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Report of the Extraordinary General Shareholders’ Meeting

GIMV
Corporate

Today Gimv held an Extraordinary General Meeting (EGM). With 39.27% of the shares represented (11,236,416 shares), the required attendance quorum was not reached. A new EGM will take place on January 13, 2025.

An EGM of Gimv that was convened on November 21, 2024 was held today to deliberate on a possible capital increase to support the acceleration of Gimv’s strategic growth and further maximize value creation.

With 11,236,416 shares or 39.27% of the capital present or represented, the required attendance quorum of 50% of the capital was not reached.

A second EGM will take place on Monday, January 13, 2025 with the same agenda and will be able to validly deliberate and resolve regardless of the number of shares present or represented.

Today Gimv published the convening notice for this second EGM on its website:

https://www.gimv.com/en/investors/shareholder-meetings

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European Energy and Novo Holdings announce joint venture to triple renewable energy capacity of German onshore wind parks

Novo Holdings

A partnership between Novo Holdings and European Energy will repower 17 operational wind parks in Germany with new and more efficient wind turbines.

Photo: European Energy

The respective wind parks went operational between 2002 and 2008, and since then, significant advances have been made in wind turbine technology, resulting in more efficient, higher-capacity turbines that can generate substantially more energy from the same wind resources.

Novo Holdings and European Energy aim to replace these outdated wind turbines in the 17 German wind parks with modern turbines capable of generating significantly more renewable energy.

Currently, the wind parks have a combined capacity of 151.9 MW, which is expected to more than triple following repowering. Once operational, the updated wind parks are projected to generate over 1,100 GWh of electricity annually – equivalent to the energy consumption of around 290,000 European households.

The projects have already secured most rights and are in advanced stages of development. They are expected to achieve ready-to-build status between 2025 and 2027 and are forecast to become operational between 2027 and 2030.

Novo Holdings and European Energy have previously partnered in 2021, when they launched a collaboration with Sampension to develop solar and wind farms in Denmark and Sweden. The partnership focuses on purchasing land for renewable energy projects while exploring ways to combine energy production with biodiversity and climate benefits.

The new repowering projects in Germany mark a continuation of this collaboration, reinforcing a shared commitment to drive the energy transition and thereby contributing to a more sustainable future.

Jens Peter Zink, Deputy CEO of European Energy, said: “We are delighted to expand our excellent collaboration with Novo Holdings on so many renewable energy projects in Germany. With the increasing demand for electricity driven by the electrification of German society, it is only natural to commission more efficient wind turbines in existing wind farms. European Energy has extensive experience in repowering existing wind farms in Germany, and we intend to bring that expertise to these new projects.”

Morten Beck Jørgensen, Managing Partner, Capital Investments, Novo Holdings, said: “We are pleased to announce this investment in the onshore wind industry, further emphasising our commitment to supporting the transition towards renewable energy sources. European Energy’s expertise in repowering projects and Germany’s support for onshore wind create an attractive investment case that advances the renewable energy agenda and showcases the impact of strategic partnerships.”

About European Energy A/S
European Energy is a renewable energy developer founded in 2004. The company develops and constructs renewable energy projects around the world. Based in Copenhagen, Denmark, the company has a strong track record developing projects in 17 countries. European Energy has a development pipeline of more than 65 GW of renewable energy projects. European Energy is an international organisation with employees from 43 different national backgrounds. By 2024, the European Energy Group has expanded to 800 highly skilled professionals. www.europeanenergy.com

About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Asia, Planetary Health and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development. As of year-end 2023, Novo Holdings had total assets of EUR 149 billion. www.novoholdings.dk

About the Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.

Further information

Novo Holdings
Marie-Louise Jersin, Senior Communications Partner, maj@novo.dk

European Energy
Ming Ou Lü, PR Manager,
miol@europeanenergy.com

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Regnology receives a significant minority investment from CPP Investments to support further international growth and expansion

Nordic Capital
  • CPP Investments capital commitment will be made alongside a new investment from Nordic Capital
  • The broadened ownership will support Regnology in achieving its vision of becoming the central platform for reporting across financial institutions and regulators and fulfilling its accelerated international growth plan both organically and through strategic acquisitions 

Canada Pension Plan Investment Board (“CPP Investments”), a leading global institutional investor and Nordic Capital, a leading software private equity investor, today announced an agreed new significant minority investment by CPP Investments for Regnology (“Regnology” or “the Company”), a global software provider with a focus on regulatory reporting solutions for financial institutions.
In addition, Nordic Capital will make a new investment alongside its current ownership. Nordic Capital sees strong continued potential in the Company, and will together with CPP Investments, continue to support Regnology’s vision of creating a global platform that connects regulators and the financial industry to drive stability, transparency and a sustainable future.

This transaction enables Regnology’s further access to long-term capital, global networks and sector expertise to accelerate its expansion into more international markets both organically and through strategic acquisitions. In addition, the broadened ownership will support further investment in Regnology’s technology, product offering, customer success and people. The new ownership structure reflects both CPP Investments and Nordic Capital’s confidence in Regnology’s business model and future growth prospects and provides an opportunity to create additional value.

Regnology is a global provider of innovative regulatory, risk, and supervisory technology solutions. Over 35,000 financial institutions, 70 regulators, and tax authorities rely on its solutions to streamline their processes, enhance data quality and improve efficiency. Regnology supports regulatory reporting for all scales of financial institutions, including top-tier banks, brokerage firms, community banks, and corporate entities, along with major regulatory bodies and financial authorities across Europe, North America, and APAC.

Since Nordic Capital acquired Regnology in December 2020, the Company has outperformed its operational and financial targets and executed on its value creation plan earlier than expected. Regnology has made significant investments in its technology and product platform, experiencing strong organic growth as well as international expansion through strategic add-on acquisitions. The recently announced acquisition of VERMEG’s RegTech business unit (Agile) will expand Regnology’s international footprint in the strategic North American and APAC markets. This acquisition is expected to strengthen Regnology’s position as a global provider of end-to-end regulatory reporting solutions for large banks and other financial institutions seeking a comprehensive and innovative offering from a
single, trusted partner.

Fredrik Näslund, Partner and Head of Technology & Payments, Nordic Capital Advisors, commented:

“Under Nordic Capital’s ownership, Regnology has transformed from a carve-out into a sizeable software platform in the RegTech space and the management team has successfully executed the key levers of the initial value creation plan. Nordic Capital is delighted to be investing further together with CPP Investments to support this journey, allowing Regnology to scale its business model globally. We also want to thank BearingPoint Capital as a strategic partner and minority investor over the last four years.”

Sam Blaichman, Managing Director, Head of Direct Private Equity at CPP Investments, said:

“Regnology has a leading position in attractive and resilient markets, with a differentiated offering driving high customer advocacy. Under its current leadership, Regnology has demonstrated a strong track-record of entering and winning in new geographies. We look forward to supporting the management team’s global ambitions alongside Nordic Capital. We expect this investment to deliver attractive risk-adjusted returns for CPP contributors and beneficiaries.”

Rob Mackay, CEO, Regnology said:

“Nordic Capital’s support has been pivotal in our journey, and we are thrilled for CPP Investments to come on board as we enter the next phase of our global expansion. With their combined strengths, we are empowered to further invest in developing our SaaS solutions and accelerate our vision of creating a dedicated network that streamlines regulatory data flows, helping both regulators and the regulated in navigating the complexities of financial regulation.”

Nordic Capital has over 20 years of experience accelerating the growth of innovative technology companies globally. It has made 33 technology investments in companies with an aggregate enterprise value of circa EUR 26 billion, including Itiviti, Macrobond, Regnology, Trustly, Bambora, Signicat, One Inc, ActiveViam, Zafin and the recently announced acquisition of Anaqua. Its current Technology & Payments portfolio generates EUR 4.5 billion of revenues and employs over 17,400 people.

CPP Investments’ net investments through the Private Equity department totalled C$136.9 billion at September 30, 2024. CPP Investments’ Direct Private Equity strategy is focused on assets and sub-sectors where it maintains competitive advantages including a strong track record, superior insights and strategic partnerships to deliver attractive risk-adjusted returns. CPP Investments’
Direct Private Equity team has C$44bn assets under management and has significant experience investing in technology businesses, combined with strong expertise in the financial services sector.

CPP Investments has committed approximately €460 million / C$ 690 million for a significant minority stake in Regnology alongside a new investment made from Nordic Capital XI. Nordic Capital entities will hold a majority stake via Nordic Capital X and Nordic Capital XI. Nordic Capital X, which initially invested in Regnology in 2020, will sell a portion of its holding as part of the transaction. Current minority investor BearingPoint Capital will sell its full holding in connection to the transaction.

Terms of the transaction were not disclosed. The transaction is subject to customary regulatory approvals and expected to be completed in Q1 2025.

Contact Details

CPP Investments
Steve McCool
Public Affairs & Communications, CPP Investments
Tel: +44 7780 224 245
email: smccool@cppib.com

Nordic Capital
Katarina Janerud
Communications Manager, Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

About CPP Investments

Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 22 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At September 30, 2024, the Fund totalled C$675.1 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Instagram or on X @CPPInvestments.

About Nordic Capital

Nordic Capital is a leading sector-specialist private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and Service & Industrial Tech. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested EUR 26 billion in close to 150 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution II with EUR 2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. www.nordiccapital.com.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

About Regnology

Regnology is a leading technology firm on a mission to bring safety and stability to the financial markets. With an exclusive focus on regulatory reporting and more than 35,000 financial institutions, 70 regulators, international organizations, and tax authorities relying on our solutions to process their regulatory reporting data, we’re uniquely positioned to bring greater data quality, efficiency, and cost savings to all market participants. With over 900 employees in 16 countries and a unified data ingestion model powering our work, our clients can quickly implement and derive value from our solutions and easily keep pace with ongoing regulatory changes. Regnology was formed in 2021 when BearingPoint RegTech, a former business unit of BearingPoint Group, joined forces with Vizor Software, a global leader in regulatory and supervisory technology. The Company is on a continued organic and external growth path, building up as one of the world’s most recognized global regulatory reporting powerhouses. For more information about Regnology, connect with us on LinkedIn and X. Visit our website: www.regnology.net

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Nordic Capital’s second mid-market fund, Evolution II, closes at EUR 2 billion hard cap after rapid fundraise

Nordic Capital
  • Strong demand from a globally diversified investor base, with high re-up rate and new LP commitments, making Evolution II 65% larger than its predecessor
  • Investors attracted to Nordic Capital’s subsector-specialism and mid-market investment strategy in Northern Europe
  • Continued focus on successful partnerships with growth companies, to accelerate long-term growth and expansion

Nordic Capital today announced the successful First and Final close of Nordic Capital Evolution II (“Evolution II” or “the Fund”) at the hard cap of EUR 2 billion. Raised within four months from launch with excess demand, the Fund closed at its hard cap and significantly exceeded its target of EUR 1.4 billion. Evolution II attracted excess demand from its launch and benefited from strong support from its current investor base, with a high re-up rate of over 100% by capital, and significant LP commitments from new investors and geographies, including a significant increase from the Americas. Evolution II is 65% bigger than its predecessor fund, Evolution I, which raised EUR 1.2 billion in three months in 2021. Evolution II is the fourth Nordic Capital fund since 2020 to have benefited
from a rapid fundraise. The demand for the Fund and the pace of its fundraise underline investors’ confidence in Nordic Capital’s long-standing investment model and portfolio performance.

Nordic Capital’s Evolution strategy expands the firm’s winning subsector model and powerful platform to a broader spectrum of mid-market companies. Evolution II will target investments predominantly in Northern European companies with an EV of EUR 100 million to EUR 400-500 million. Similar to its predecessor, the Fund will focus on control buyouts and non-cyclical growth opportunities in Nordic Capital’s focus sectors, Healthcare, Technology & Payments, Financial Services and Services & Industrial Tech. While it will target lower mid-market opportunities, Nordic Capital’s flagship funds will continue their focus on upper mid-market companies.

As a long-established subsector specialist, Nordic Capital is committed to finding and developing non- cyclical companies in fast-growing segments within its well-recognised subsectors. It works in close partnership with founders and management teams to develop companies with the potential to lead their markets and shape industries. As an Article 8 fund, Evolution II will continue to drive sustainability agendas and seek to promote long-term, environmental, social and good corporate governance practices within the companies it backs.

Nordic Capital has a strong 35-year history of investing in and successfully growing and developing mid-market companies. This, combined with its repeat sub-sectors strategy, supports a strong investment pipeline and dealmaking for the Evolution Funds. Evolution I, which was raised in 2021, has completed ten investments to date, of which 70% have been made in collaboration with the companies’ founders and 80% completed outside broad auction, demonstrating the Evolution strategy’s strong focus on partnership.

Joakim Lundvall, Partner and Co-Head of the Evolution advisory team said:

“We are delighted to witness such strong demand for Evolution II from both existing and new investors. Their unwavering support is a testament to their confidence in Nordic Capital’s mid-market strategy. Our strong Evolution team, with its clear focus on business growth driven by local market expertise and deep sector knowledge, has cultivated a robust pipeline and secured partnership investments with growth companies within attractive niches. Over the last three years, a number of founders of companies have formed partnerships with Nordic Capital because they have experienced first-hand how we can help make great companies even better and support their expansion into new markets.”

Jonas Agnblad, Partner and Co-Head of the Evolution advisory team said:

“With the Evolution funds, Nordic Capital’s long-standing sector strategy is now applied to a wider range of mid-sized companies, offering a partnership model that can help scale and professionalise companies. The partnership model includes both our own expertise, our broad network of experts and a platform that can support growth and international expansion. By contributing experience in product innovation, international expansion and long-term sustainable value creation, Nordic Capital looks forward to helping more mid-market companies develop and reach their full potential.”

Pär Norberg, Partner and Head of Investor Relations, Nordic Capital Advisors, commented:

“We are very pleased with the outcome of Evolution II. This is a great achievement for the team, and we would like to express our sincere gratitude to Nordic Capital’s global investor base. This type of result is only possible with the backing of long-standing existing investors as evidenced by the strong reup rate, combined with the confidence gained in Nordic Capital by new investors. We are humbled that investors have prioritised and partnered with Nordic Capital, and we are enthusiastic about working together during Evolution II and beyond.”

The Evolution Funds are advised by a dedicated team of 20+ professionals, with a range of tenure and industry experience. The team also draws on Nordic Capital Advisor’s wider organisational capabilities, including its operational and sector focused expertise and well-established regional network.

Evolution II attracted investors from across the globe, including 41% from Europe, 35% from the Americas, 21% from Asia and 3% from the Middle East. The investor base comprises a well-diversified mix of institutional investors: public and private pension funds (c.41%); asset managers and advisers (c.26%); sovereign wealth funds (c.14%); family offices and foundations (c.13%); and financial institutions (c. 6%).

Evolution II will continue Nordic Capital’s strong sustainability commitment. This year Nordic Capital received a top ESG rating from the UNPRI for the second consecutive year, and further advanced its climate agenda with the announcement that its greenhouse gas emissions reduction targets have been approved by the Science Based Target initiative. Nordic Capital has a clear commitment to making a positive contribution to society by backing businesses that are solving some of the world’s global challenges or supporting the development of companies with strong sustainable foundations.

The fundraising was led by Nordic Capital, supported by Rede Partners who acted as placement agent, with Kirkland & Ellis as lead legal counsel.

Press contact

Katarina Janerud
Communications Manager Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

About Nordic Capital

Nordic Capital is a leading sector-specialist private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and Service & Industrial Tech. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested c. EUR 26 billion in close to 150 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution II with EUR 2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. www.nordiccapital.com.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

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Altor divests Nordic Tyre Group to Axcel

Altor Fund IV(“Altor”) have signed an agreement to divest Nordic Tyre Group (“NTG”), the leading independent tyre wholesaler across the Nordics and Baltics, to Axcel Fund VII (“Axcel”).

In 2019, Altor entered a partnership with the founders of Gummigrossen and Rengasduo with the joint ambition to build a Nordic leader within the tyre wholesaler industry. Today, Nordic Tyre Group is the largest independent tyre wholesaler across the Nordics and Baltics with a diversified group of more than 10 000 customers and long-standing relations with 200 suppliers. The company is built on a proprietary technology platform providing a unique competitive advantage.

“Altor established Nordic Tyre Group with the ambition to build the leading tyre wholesaler across the Nordics and Baltics and they have worked with an entrepreneurial mindset to support the management team to realize that mission. It has been an incredible journey and our achievements have been a result of teamwork and a shared vision. Now, our sights are set on European roads together with Axcel” said Patrick Bergander, CEO of Nordic Tyre Group.

“Nordic Tyre Group has grown from a tech-enabled challenger in Sweden to become the leading independent tyre wholesaler across the Nordics and Baltics. We are truly impressed by the achievements of the management team and employees and we are proud to have been part of this journey. We look forward to seeing the company continue its growth journey together with Axcel” said Stian Tuv, Principal at Altor.

About Altor

Since inception, the family of Altor funds has raised more than EUR 11 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Wrist Ship Supply, Trioworld, Eleda, OX2 and Nordic Climate Group.

About Nordic Tyre Group

Nordic Tyre Group is the leading independent tyre distributor across the Nordic and Baltic markets. The company was founded in 2019 through the merger of two leading tyre wholesalers, Gummigrossen in Sweden and RengasDuo in Finland. Since then, the Group has expanded to Norway and the Baltics through acquisitions of Starco, Gummi-Centralen, Dekkteam, Dekk1 and Latakko, and is today present across six markets.

About Axcel

Founded in the Nordics in 1994, Axcel is a leading private equity group investing across Northern Europe, with a focus on four sectors: Technology, Business services & Industrials, Healthcare and Consumer.  Our team across Copenhagen, Stockholm and Frankfurt draws on 30 years of experience in building market leaders through a collaborative mindset and a structured approach to value creation. Axcel has raised seven funds with committed capital of more than EUR 4.1 billion from Nordic and international investors. We currently own 19 companies and have made a total of 72 platform investments, over 375 add-on acquisitions and 53 exits.

For more information, visit www.axcel.com.

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Ratos adopts new sustainability targets and joins Science Based Targets initiative

Ratos

Sustainability has been integrated into Ratos’s business strategy for many years. Ratos is now strengthening its ambitions by introducing new sustainability targets and joining the Science Based Targets initiative (SBTi).

The new sustainability targets stipulate Ratos’s contribution to two of the 17 UN Sustainable Development Goals (SDGs) of the 2030 Agenda – Goal 13: Climate Action and Goal 5: Gender Equality.

For its climate targets, Ratos has set both short-term (by 2030) and long-term (by 2050) targets for reducing carbon dioxide emissions. These Group-wide targets encompass 15 of 16 subsidiaries*. Ratos will communicate more details about its emission reduction targets once they have been submitted to and validated by the SBTi. The targets will be submitted during Q1 2025.

For its gender equality target, Ratos aims to have a 40/60 distribution of women and men in senior positions by 2030. Senior positions refer to the Board members of Ratos AB and 15 of its 16 subsidiaries* and well as the management groups of Ratos AB and the same 15 of 16 subsidiaries.

“We are now setting ambitious, science-based targets to reduce our carbon footprint, while also promoting gender equality throughout our organisation by establishing a target for the share of women and men in senior positions. We need to work more strategically to reach the entire talent pool when we recruit new employees and ensure that our sustainability targets are in line with the Paris Agreement. Sustainability isn’t just a responsibility, it’s an important driver of long-term profitability, ensuring that our operations continue to generate returns,” says Josefine Uppling, Vice President Communication & Sustainability, Ratos.

For more information, please contact:
Josefine Uppling, Vice President Communication & Sustainability, Ratos, +46 76 114 54 21

*Aibel is excluded since it is considered an associate of the Ratos Group.

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 16 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 32 billion in net sales (September LTM). We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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IK Partners to sell Mecenat to Inflexion

IK Partners

IK Partners (“IK”) is pleased to announce that the IK Small Cap II (“IK SC II”) Fund has signed an agreement to sell its stake in Mecenat Group AB (“Mecenat” or “the Group”), a leading marketing and brand awareness platform, to Inflexion. Financial terms of the transaction are not disclosed.

Founded in 1998 and headquartered in Gothenburg, Sweden, Mecenat is a digital marketing platform which connects students, young professionals/alumni and seniors with well-known brands by providing access to exclusive offerings, career services and relevant events. Operating across five main business areas in Sweden and Finland, the Group takes pride in connecting almost three million members with more than 700 local and global brands, creating synergetic exchanges in the areas of brand building, unique discount offerings and marketing. Mecenat’s platform spans diverse industries, including Technology, Fashion, Travel and Entertainment and includes key partners such as Apple, Zalando, Hotels.com and Viaplay.

Mecenat’s services are primarily digital, allowing for a two-way exchange between brands and members through its app and website. In recent years, the Group has expanded through the acquisitions of Seniordays in 2021, Frank Students in 2022, and Traineeguiden in 2023. The development of the platform in this way has enabled Mecenat to leverage a unique member acquisition approach which sees students entering organically before automatically progressing to alumni, while retaining members throughout their life by leveraging the top-of-mind habit developed when they were students.

Since IK first invested in the business in September 2021, Mecenat has more than doubled its revenue, proving its resilience in the face of challenging global economic conditions. The Group has also: expanded its product offering to attract a more diverse range of members, including alumni and seniors; achieved meaningful geographic expansion beyond the Swedish market; delivered significant technological developments; and executed strategic acquisitions to support the expansion of the product range.

Jonas Odéhn, CEO of Mecenat Group, said: “We would like to thank IK for their support during the past three years. This period has seen Mecenat develop into an even stronger business thanks to the hard work and dedication of our employees. The Group has experienced tremendous growth and transformed into a leading marketing technology and brand awareness platform with a unique business model and digital-first approach to fostering brand loyalty. With this solid foundation in place, we look forward to the next chapter which will see us partner with the team at Inflexion.”

Carl Jakobsson, Partner at IK Partners and Advisor to the IK SC II Fund, added: “Since investing in Mecenat in 2021, we have been extremely impressed with the professionalism and expertise displayed by Jonas and his team. During our partnership with them, the Group has gone from strength-to-strength, nearly doubling its member base and pursuing geographic expansion through a range of value creation initiatives. We wish Jonas, his team and Inflexion the very best of luck for the next stage in Mecenat’s growth journey.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0)7787 558 193
vidya.verlkumar@ikpartners.com

 

About Mecenat Group

Mecenat Group is a marketing and brand awareness platform that connects students, young professionals/alumni and seniors in Sweden and Finland with well-known brands. Mecenat offers unique discounts to its members through its platform, and partners with brands such as Apple, Microsoft, HP, Adidas, H&M, and Hotels.com. For more information, visit mecenat.com

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €17 billion of capital and invested in over 195 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com

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Truesec Acquires Foresights, a Specialist in Cyber Security Advisory and Intelligence

IK Partners

Stockholm, December 20, 2024

Picture from left to right: Rolf Rosenvinge, CEO Foresights; Anna Averud, CEO Truesec Group; Marcus Murray, Founder Truesec.

Truesec announces the acquisition of Foresights, a company specializing in cyber advisory and intelligence.

The combination of Truesec and Foresights will provide decision-makers and organizations with unique insights and tools to manage business risks.

35% of European enterprises will have dedicated budgets for cyber risk mitigation for the first time this year. This trend is driven by increased cyber threats and the need to protect against revenue loss, operational disruption, and reputational damage caused by these threats

Organizations are facing rapidly increased risks due to the current geopolitical landscape, digitization, and maturing cyber threats.

Decision makers are in urgent need of efficient solutions to navigate and mitigate cyber risks. The acquisition of Foresights is a key component in Truesec’s strategy to provide sustainability and resilience to organizations.

Foresights has an impressive track record and unique expertise in the industry. Together, Truesec and Foresights will provide unparalleled insights, advisory, and intelligence to the market.

“The market is seeking executive advisory and intelligence solutions within cyber. Everyone deserves maximum value for their cyber investments. We are very pleased to welcome Foresights to Truesec,” says Anna Averud, CEO Truesec Group.

Foresights’ founder and CEO, Rolf Rosenvinge, adds, “By becoming part of Truesec, we can combine our strategic insights and understanding of business risk with Truesec’s deep technical expertise and extensive knowledge of the cyber threat landscape. This mix will give our customers a true advantage against adversaries”.

The acquisition means that Foresights employees will be integrated into Truesec’s organization, and collaboration between the two companies will begin immediately.

Contacts

Anna Averud
CEO, Truesec Group
Email: anna.averud@truesec.com
Phone: +46-70 918 30 48

Jennie Mattar
CMO, Truesec Group
Email: jennie.mattar@truesec.com
Phone: +46-72 858 88 78

About Truesec

Truesec is an international cybersecurity company that offers market-leading managed services, incident management, and expert consulting services. Truesec operates the largest Security Operations Center (SOC) in the Nordics and has conducted over 35,000 hours of incident management in the past year. The company’s goal is to Prevent Breach and minimize impact. Since 2005, Truesec has delivered advanced security solutions to clients in both the private and public sectors worldwide. Today, the company comprises over 330 cyber specialists with deep expertise and a leading role in cybersecurity in the Nordics. For more information, visit Truesec.com.

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Stonepeak Acquires 2.3 Million Square Foot Logistics Portfolio in Houston, Texas

Stonepeak

NEW YORK, NY – December 19, 2024 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the acquisition of six logistics assets totaling 2.3 million square feet in Houston, Texas.

The assets are strategically located less than 8 miles from Port Houston, which lifts 3.8 million TEUs annually and is the fifth-largest container port in the United States. Port Houston is investing $1.7 billion over the next five years to modernize and expand its existing facilities. Houston’s transport infrastructure is further supported by an extensive rail network anchored by Union Pacific, BNSF, and CPKC. Houston has seen positive demographic trends, with a population of 7.5 million that has grown three times the national average since 2014 and trailing 12-month job growth of 2.3% compared to the national average of 1.6%.

“We are thrilled to add these high-quality assets to our port logistics platform, which has grown rapidly over the past year,” said Phill Solomond, Senior Managing Director and Head of Real Estate at Stonepeak. “We continue to believe in the power of supply chain real estate anchored by essential port infrastructure, given its mission-critical role in local and national supply chains, and we are excited to continue investing behind this theme.”

To date in 2024, Stonepeak has acquired 20 logistics assets totaling 7 million square feet. Most recently, Stonepeak acquired a 1.8 million square foot logistics portfolio located near the Port of Jacksonville, Florida. Earlier this year, Stonepeak acquired a 1.1 million square foot logistics portfolio located in the Alliance submarket of Dallas-Fort Worth, Texas and a 1.7 million square foot logistics portfolio located adjacent to the BNSF and Union Pacific intermodal terminals in Chicago, Illinois.

Stonepeak’s real estate team invests thematically in real estate assets that demonstrate infrastructure characteristics. The team invests in high conviction sectors including supply chain, residential, healthcare, and technology real estate. With the benefit of the strength and insights of the broader Stonepeak platform, the team targets opportunities supported by strong macro tailwinds that have durable cash flow profiles, embedded demand drivers, high barriers to entry, inflation protection, and are mission critical to the businesses and communities they serve.

Simpson Thacher & Bartlett LLP served as legal counsel and Jones Lang LaSalle served as financial advisor to Stonepeak.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $70 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi. For more information, please visit www.stonepeak.com.

Contacts
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (212) 907-5100

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Remodel Health Raises More Than $100 Million to Continue Expansion in ICHRA Market

Oak HC FT

Remodel Health, the #1 Individual Coverage Health Reimbursement Arrangement (ICHRA) provider for brokers, today announced it has raised more than $100 million from Oak HC/FT and Hercules Capital, Inc. (NYSE: HTGC) in growth funding.

Remodel offers an end-to-end, white-labeled tech platform that supports employers and employees with everything they need tolaunch and access their ICHRA plans, including plan creation andadministration, call center support, automated quoting, employee onboarding, HRIS integrations and payments with carriers and access to ancillary products. Starting with the group to individual health insurance shift in 2015, Remodel has become a dominant player in the ICHRA space, bolstered by the acquisition of PeopleKeep in early 2024. Together, the two companies are uniquely positioned to serve small, medium and large employers, with a suite of products across ICHRA and QSEHRA. With this investment from Oak HC/FT and Hercules Capital, Remodel will look to continue its national expansion.

Remodel stands apart from the competitive set with its meaningful scale and a go-to-market motion defined by its white-glove service, deep broker relationships and easy-to-understand approach to marketing and sales. Importantly, as employer health insurance premiums continue to increase, ICHRA provides Remodel’s customers with predictable annual benefits costs, driving stability and an average of 30% savings for the office of the CFO. Over the past 12 months, Remodel has focused more on partnering with insurance brokers and agencies tosupport its ICHRA expansion across the U.S. As a result, the Remodel business grew 11x YoY in broker-led ICHRA bookings and this will be a key area of growthand expansion for the business moving forward.

“We are on a mission to resource organizations with missions that matter, partnering with employers and their brokers to do so. Remodel Co-Founders Justin Clements and Scott Lingle and I started trailblazingin 2015, and PeopleKeep founder Paul Zane Pilzer identified this shift likepension to 401(k) in the early 2000’s,” said Austin Lehman, CEO of Remodel Health. “We are now seeing it begin to come to fruition. The Oak team have been great dreamers with us and have great connections in the insurance payer space to accelerate growth and help increase access to medical care and resource organizations with missions that matter.”

ICHRA was created in 2020 as a flexible alternative to traditional group health insurance, offering choices around contribution levels to employers and more personalized options around benefits for employees. Similar to a 401K, employers of any size can provide an allowance of pre-taxdollars to their employees. This is used by employees for the purchase of someor all of their healthcare premiums for insurance bought on the ACA exchanges. It offers an exciting cost-savings proposition for employers, particularly small and mid-size ones, who want to offer health insurance to their teams, by allowing them to move their employees to state risk pools to help offset costs, instead of trying to level-fund or self-insure.

“We have been looking at the ICHRA space for a few years now, waiting for a stand out company with the combination of hyper-scaling potential, an ambitious go-to-market strategy and focused dedication from the leadership team,” said Andrew Adams, Co-Founder and Managing Partner, Oak HC/FT. “We are honored that the Remodel team chose to partner with us and cannot wait to support them in their efforts to build out the ICHRA market for employers and brokers across the U.S.”

Since its launch, the ICHRA market has been steadily increasing and is projected to 10X by 2032.According to the HRA Council, ICHRAadoption increased 29% from 2023 to 2024, with Applicable Large Employersgrowing at the highest rate – of 84%. Remodel’s approach to distribution and plan partnership best positions them to take advantage of this growth, now and in the future.

About Remodel Health

Remodel Health isthe expert guide for employers and brokers navigating the complexities oftransitioning to ICHRA. With nearly a decade of experience in the individualhealth benefits space, our proprietary software and licensed health benefits experts deliver tailored solutions for businesses with 100 to 10,000 employees. Committed to best-in-class customer service, we provide hands-on support throughout the process, ensuring successful implementation and long-term success. Learn more about how we transform health benefits at remodelhealth.com.

About PeopleKeep

PeopleKeep specializes in helping small and midsize businesses offer affordable, flexible health benefits through the ICHRA and qualified small employer HRA (QSEHRA). By focusing on expanding access to coverage for employees often overlooked by traditional employer-sponsored plans due to cost and complexity, PeopleKeep empowers small employers to thrive. With easy-to-use software, automated compliance, and a seamless employee experience, PeopleKeep is committed tosimplifying benefits administration and making health coverage more accessible.

About Oak HC/FT

Oak HC/FT is a venture and growth equity firmspecializing in investments in fintech and healthcare. Using partnership as afoundation, Oak HC/FT guides companies and founders at every stage, from seedto growth, to create businesses that make a measurable and lasting impact.Founded in 2014, Oak HC/FT has invested in over 85 portfolio companies and hasover $5.3 billion in assets under management. Oak HC/FT is headquartered inStamford, CT, with an office in San Francisco, CA. Follow Oak HC/FT on LinkedIn and X and learn more at https://www.oakhcft.com/.

About Hercules Capital, Inc.

Hercules Capital, Inc. (NYSE: HTGC) is the leading and largest specialty finance company focused on providing senior secured venturegrowth loans to high-growth, innovative venture capital-backed companies in abroad variety of technology and life sciences industries. Since inception (December 2003), Hercules has committed more than $21 billion to over 660companies and is the lender of choice for entrepreneurs and venture capitalfirms seeking growth capital financing. Companies interested in learning moreabout financing opportunities should contact info@htgc.com.

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