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TEEPTRAK announces €5 million fundraising to drive global expansion and equip industrial manufacturers of all sizes and across all sectors

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Shift Invest

TEEPTRAK, European leader in industrial performance monitoring and a pioneer in connectivity and data analytics for production equipment, has announced a €5 million funding. This financing is supported by its longstanding investors, XAnge and EDF, along with a new lead investor, SHIFT Invest, an impact-driven European fund known for its strategic role in supporting innovative, sustainable projects. The round also benefits from an expertise and financial partnership with management consulting firm Sia Partners through its B2B startup investment vehicle.

TEEPTRAK announces €5 million fundraising to drive global expansion and equip industrial manufacturers of all sizes and across all sectors

 

This funding will allow TEEPTRAK to strengthen its presence in the American and Asian markets, particularly in the United States and China, responding to growing demand for its industrial performance monitoring and optimization solutions. By the end of the year, TEEPTRAK will open an office in Chicago and expand its subsidiary in Shenzhen, with the goal of hiring around 100 new employees over the next three years. The company also aims to expand its reach in Europe by opening offices in highly industrialized countries to provide local support to its clients.

 

Sustainable and High-Quality Solutions

TEEPTRAK is a trusted partner for manufacturers looking to improve their performance in a measurable way, often achieving productivity gains of 5-30%. With robust, sustainable solutions perfectly aligned with the reliability and performance demands of the manufacturing sector, TEEPTRAK provides companies with the tools to increase output, reduce costs, and maximize efficiency.

Designed and assembled in France, TEEPTRAK’s solutions feature components specifically designed to meet the requirements of industrial environments. With full control over the hardware, TEEPTRAK delivers cutting-edge technologies that enable manufacturers to monitor and optimize production in real-time, ensuring reliability and performance.

Innovative Technology Serving the Global Industry

With over 120 industrial clients in 30 countries and nearly 2,500 connected production lines or equipment, TEEPTRAK is a recognized leader in industrial performance monitoring. Its multilingual platform, available in 20 languages, gives manufacturers instant access to valuable performance data and enables continuous improvement through corrective actions.

Tangible Results at Every Step of Production

TEEPTRAK’s solutions cover four essential areas to enhance industrial performance:

  • Machine Performance: Real-time monitoring of all types of machines to maximize efficiency.
  • Operator Pace: Measurement and tracking of repetitive tasks to enhance team productivity.
  • Quality: Elimination of paper-based processes and manual entries through digital solutions for enhanced quality control.
  • Process Monitoring: Collection of physical data, such as energy consumption and vibrations, through standard sensors.

These advanced, easy-to-install solutions, thanks to rapid, non-invasive integration, allow TEEPTRAK’s solutions to adapt seamlessly to existing industrial environments, ensuring effective deployment and a quick return on investment with competitive pricing.

Additionally, TEEPTRAK offers a standalone Machine Learning platform that utilizes advanced AI algorithms to leverage data collected through its solutions, as well as customer-specific data independently. This AI platform provides manufacturers with tailored analysis and forecasting capabilities, maximizing operational efficiency and continuous process optimization. Two algorithms are available: anomaly detection and process optimization.

Growth and Innovation on a Global Scale

With this new funding, TEEPTRAK is positioned to become a global player in Industry 4.0, with rapid expansion planned in strategic regions and a continued commitment to innovation in service of industrial companies. This momentum enables TEEPTRAK to meet the growing demands for digitization, performance, and sustainability in the manufacturing sector.

“This is the first time that TEEPTRAK, now profitable and experiencing strong growth, has had such significant resources to increase awareness of its products and accelerate its development. This is a great opportunity for the company, its employees, our clients, and the environment. SHIFT Invest’s entry as a shareholder confirms the strong environmental impact of large-scale industrial performance improvement.”

François Coulloudon, CEO

“Manufactured goods are essential to our daily lives, but their production can be energy and resource-intensive, with the industry accounting for around 37% of global energy consumption. Making this sector more efficient has a major positive environmental impact. That’s why TEEPTRAK perfectly aligns with our fund’s commitment to making the industrial sector more sustainable.”

Bart Budde, Investment Manager at SHIFT Invest

This fundraising round marks a turning point for TEEPTRAK, providing it with the resources to amplify its impact and continue revolutionizing the industrial sector. With this support, the company is ready to push innovation further and deliver ever more efficient and sustainable solutions to manufacturers.

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Empyrean Solutions Secures Significant Investment from Hg

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HG Capital

Woburn, MA. November 21, 2024 – Empyrean Solutions (“Empyrean”), a leading provider of risk and performance management software for financial institutions, today announced a significant strategic investment from Hg, a leading investor in European and North American software businesses. The Empyrean management team and current investors, TechVenture Investors and Spectrum Equity, will all remain shareholders. Spectrum Equity will also participate alongside Hg in the new transaction.

Empyrean’s platform solves mission critical challenges for finance teams at financial institutions, who historically have had to navigate large quantities of siloed data, antiquated software applications and slow, static modelling. With a modern, cloud-based platform where banks and credit unions of all sizes can connect and process massive data sets – spanning loans, treasury & funding positions, deposits and general ledger information all at a transaction level – Empyrean is transforming the ‘Office of the CFO’ for financial institutions.

While Empyrean started as a specialist in Asset & Liability Management (ALM), the platform today spans Budgeting and Planning, Profitability, Data & Analytics and many other key functions for the finance teams of financial institutions. With superior technology, deep domain expertise and a relentless focus on driving innovation, Empyrean is helping the CFO and their teams to navigate complex economic and regulatory environments, optimize their financial performance and make informed strategic decisions.

This transaction follows a period of sustained and rapid growth at Empyrean. During this time, the Company has achieved several financial and operational milestones:

  • Consistent Growth. Empyrean has grown revenue at 40% per year since 2017 through a combination of new customer adds and existing customers adopting additional software modules.

  • Compelling Customer Base. 270 total software customers — spanning small, mid-sized and large financial institutions — as of end of October 2024, including 70 new customers added over the last 12 months alone.

  • Multi-Module Capabilities. 110 customers have adopted Empyrean’s newly launched Budgeting and Planning module in the first year since launch.

  • Industry Recognition. ALM RiskTech Quadrant Category Leader and Category Winner for Financial Planning & Budgeting award by Chartis Research as part of its 2024 Chartis RiskTech 100 Awards

  • Large Bank Momentum. Recent addition of Ed Young, industry expert and former Fed risk specialist, who joins as Managing Director with a mandate to expand Empyrean’s growing base of banks with $100bn+ in total assets.

“Our strategy – replacing legacy software solutions and disparate datasets with a single, SaaS native and cloud-based platform – is gaining traction in the sector.” said Chris Maclin, Chief Executive Officer of Empyrean. “This new investment and our partnership with Hg will enable Empyrean to better address the needs of financial institution CFOs, and drive innovation in a space where it is desperately needed. We’re thrilled to welcome Hg as a new investor as we embark on the next phase of Empyrean’s journey.”

“Hg’s knowledge of software businesses and their proven track record partnering with companies across growth initiatives will be invaluable as we continue to innovate and expand our reach,” said Raffi Festekjian, Managing Director at TechVenture Investors. “We are also pleased that Spectrum Equity will remain actively involved as we work together to realize our shared vision of delivering to the financial services industry a comprehensive ‘Office of the CFO’ platform that is a single source of the truth, further solidifying our strong position in the industry.”

“The Empyrean success story is still in its early innings,” said Farouk Hussein, Partner at Hg. “Our knowledge of the ‘Office of CFO’, experience in banking software, and extensive work across this sector confirmed Empyrean’s unique positioning. We are impressed by Empyrean’s management team and their approach to launching new products that solve financial institution CFO customer pain points, and we look forward to backing Chris and partnering with the existing shareholders and management team.”

“This is exactly the right time for Empyrean to bring on a like-minded growth investor like Hg to help Empyrean realize the company’s full potential. The next chapter of growth at Empyrean will see the company stay true to its core mission but also pursue new growth initiatives like international expansion and penetration of the largest US and global financial institutions” added Adam Margolin, Managing Director at Spectrum Equity.

Piper Sandler is serving as exclusive financial advisor and Choate, Hall & Stewart LLP as legal advisor to Empyrean. Raymond James is serving as exclusive financial advisor and Kirkland & Ellis LLP as legal advisor to Hg.

The terms of the transaction have not been disclosed and is subject to closing.

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Septeo Group welcomes new investors Téthys Invest and GIC

HG Capital

Montpellier, France, November 22, 2024. Septeo Group (“Septeo”), a leading provider of mission-critical software for regulated verticals, today announces that it will welcome two new minority investors to the business: Téthys Invest, the investment holding company of the Bettencourt-Meyers Family, and GIC, a leading global investor.

These investors will join Hugues Galambrun, the founding CEO of Septeo, as well as the management team. Hg, a leading investor in European and transatlantic software and services companies, will also remain as Septeo’s majority investor, recognising the company’s long-term growth potential.

“To stay ahead in our sector and emerge as one of the largest European software companies, significant investment in research and development is necessary. We are therefore pleased to welcome two new, long-term investors to the group. Furthermore, the management team and I are proud to show that French businesses, when they continue to innovate and serve their customers well, can grow and remain attractive to the investor community,” Hugues Galambrun, CEO of the Septeo Group, commented on the transaction, which values the group at over €3 billion.

The arrival of these two new shareholders (Téthys Invest & GIC) establishes Septeo as a long-term player in software. It also strengthens the company’s anchoring in the French and European sector. This new funding round celebrates the success of the group to date, created 11 years ago, originally providing software solutions for Notaries and Lawyers. In just a few years, Septeo has become a major French player in the tech industry, in the rapidly evolving fields “essential to each and every one of us” such as Legaltech, Real Estate, Human Resources, PropTech and Hospitality Tech.

With a turnover of €420m in 2024 and over 3,100 employees, Septeo invests €50m per year in R&D, a significant part of which is in its “Brain” AI program.

Through this process, supported by financial advisor Arma Partners, Septeo aligns itself with long-term shareholder partners, allowing it to meet investment and innovation needs to fulfil the expectations of its clients in a context of globalized technological competition.

The transaction is expected to close following customary regulatory approvals.

For further information, please contact:

Septeo
Chloé Bondroit
Chloe.bondroit@septeo.com

Hg
Tom Eckersley
tom.eckersley@hgcapital.com

About Septeo

Septeo, a French group founded in the Montpellier region, is the leading player in LegalTech and PropTech in France and Europe. Our software solutions enable more than 200,000 legal and real estate professionals to develop and secure their activities every day. Our mission: freeing businesses from their constraints, thanks to technological solutions and innovative services. Our solutions are at the heart of the essential moments of life of more than 20 million of our fellow citizens. https://en.septeo.fr/

About Hg

Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers. This industry is characterized by digitization trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well. With a vast European network and strong presence across North America, Hg’s 400 employees and $75 billion in funds under management support a portfolio of more than 50 businesses, worth over $160 billion aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20%.

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Cinven agrees to make a significant strategic investment in Grant Thornton UK alongside its Partners

Cinven

International private equity firm, Cinven, today announces that it has reached an agreement to make a majority investment in Grant Thornton UK (‘Grant Thornton’ or ‘the Company’), one of the leading diversified professional services firms offering audit, tax and advisory services in the UK. Grant Thornton’s UK Partner base will remain invested in the business as a significant shareholder alongside the Cinven funds.

Grant Thornton is one of the oldest professional services firms in the UK, dating back to 1904, and today is one of the UK’s largest accounting and advisory services firms. Led by over 240 partners and with more than 5,500 employees across over 20 offices in the UK, the firm serves a wide and diverse client base focused on medium and large corporates, government organisations and individuals.

The investment by the Cinven funds draws on the firm’s deep expertise in Financial and Business Services and reflects its strong conviction about Grant Thornton’s leading platform and prospects for sustained growth. The professional services and advisory market is an attractive and resilient sector, supported by increasing client demand. Grant Thornton has delivered consistent, through-cycle performance and has a significant opportunity to drive further growth in response to evolving client needs.

Cinven’s Financial Services and Business Services Sector teams have collaborated closely on the investment in Grant Thornton, identifying it as a compelling primary opportunity underpinned by a number of attractive characteristics, including:

  • Leading provider of professional services to the mid-market and beyond: Grant Thornton is a key player among the UK “Big 6”, boasting a high-quality platform serving a diverse blue-chip client base and a significant public sector practice. With an impressive product mix spanning audit, tax, and a broad array of advisory services, the Company is well positioned to deliver robust growth and capture further market share.
  • Highly diversified offering with significant opportunities to drive sustained growth: Grant Thornton benefits from strong competitive differentiation, with a strong brand and diverse business lines. The Company is well positioned for sustained future growth as its clients require more advice on the ever-evolving regulatory, tax and policy landscape, and corporate focus on areas including risk management, cyber and ESG continue to grow, where Grant Thornton can provide valuable support and advice to its clients.
  • Leading ability to attract, develop and retain talent:  Grant Thornton is led by more than 240 partners and over 5,500 talented professionals and is recognised as one of the UK’s leading employers with a strong commitment to talent development.
  • Strong commitment to high-quality client service and audit standards: Grant Thornton offers a differentiated client proposition, built around quality of service, strength of relationships and focus on maintaining the highest industry standards.
  • Leading role in the global Grant Thornton International Network: Through its commitment to the Grant Thornton International Network,Grant Thornton combines global scale with local insight and an understanding of 150 markets.

Maxim Crewe, Partner and Head of Cinven’s Financial Services Sector team, and Rory Neeson, Partner and Head of Cinven’s Business Services Sector team commented:

“Cinven is delighted to be making this investment in Grant Thornton, one of the UK’s leading accounting and advisory services firms. Through this process we have been hugely impressed by the strength of the business, calibre of its Partner group and its unwavering commitment to delivering client excellence with high audit standards. Cinven has extensive experience of successfully investing in people-based professional service providers such as Alter Domus, Miller and CPA Global, and we see significant opportunity to support the business in meeting the growing needs of clients, including through investing in technology-enablement, attracting and developing top industry talent and supporting the development of the Grant Thornton International Network. We’re excited to be working with Grant Thornton’s industry-leading CEO, Malcolm, and the Partnership as we support Grant Thornton through its next phase of growth.”

Samy Jazaerli, Principal in Cinven’s Financial Services Sector team added:

“Accounting Services has been a priority sector for Cinven’s Financial Services team, and Grant Thornton’s strong brand, broad product offering, blue-chip customer base, and successful track record set it apart in the UK market. Drawing on our significant experience of partnering with management teams to accelerate the growth of high-quality companies and our strong presence in the UK and internationally, Cinven is well placed to support the acceleration of the Company’s strategy and maintain its growth momentum.”

Malcolm Gomersall, CEO of Grant Thornton UK said:

“This investment in our business is a testament to the hard work of everyone at Grant Thornton UK and the exciting opportunity that lies ahead. Cinven’s proactive and thoughtful approach to partnering with management teams, the value they place on culture and their articulation of how they could reinforce and enhance our commitment to audit quality was a key differentiator in our decision to partner with them. I look forward to working with the Cinven team to continue the firm’s strong growth trajectory.”

The transaction is subject to Partner ratification, regulatory approvals and customary closing conditions.

Grant Thornton was advised by Rothschild (M&A), DLA Piper (Legal), LEK (Commercial) and EY (Financial & Tax).

Cinven was advised by Goldman Sachs International (M&A), Freshfields (Legal), Oliver Wyman (Commercial), EY (Financial & Operations) and Deloitte (Tax).

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Stonepeak Acquires Fleet Companies

Stonepeak

NEW YORK – November 18, 2024 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has acquired Fleet Companies (“Fleet”), a leading regional trailer dealership and leasing company.

Fleet Companies serves a variety of both blue chip customers and other transportation companies with an integrated offering across trailer dealership, leasing, drop yard, and maintenance operations. Headquartered in Memphis, Tennessee with additional operations in Nashville, Tennessee and Dallas, Texas, the company sits at the nexus of several of the fastest growing transportation hubs in the country. Fleet will serve as the seed asset for a multi-faceted national trailer platform that Stonepeak plans to build out through additional acquisitions and greenfield operations across the U.S.

The investment follows Stonepeak’s long-held thesis around and extensive experience in transportation-focused asset leasing businesses, including TRAC Intermodal (marine chassis leasing) and Textainer (container leasing), along with Air Transport Services Group (aircraft leasing), which Stonepeak entered definitive documentation to acquire earlier this month. “We view trailer leasing as an attractive sector and a strong fit for our investment strategy, given its essentiality to the transport supply chain, durable industry growth, and history of delivering solid returns on assets throughout economic cycles,” said James Wyper, Senior Managing Director and Head of Transportation & Logistics at Stonepeak.

“Fleet is a high-quality operator with strong customer relationships,” added Graham Brown, Managing Director at Stonepeak. “We have full confidence in John Wilbur and Erek Starnes, two industry veterans with whom we are partnering to grow this platform, and are optimistic about Fleet’s ability to continue to grow and deliver for its customers.”

John Wilbur, Chief Executive Officer, and Erek Starnes, President and Chief Operating Officer of Fleet, added, “We are excited to partner with Stonepeak and tap into their deep industry expertise, operational support, and broad capital base. We look forward to prioritizing our customers’ experience by expanding our fleet, upgrading our systems and leveraging our highly experienced team. This transaction positions us well to become an industry leader with a hyper focus on customer satisfaction. We look forward to working with the Stonepeak team to take Fleet into a new chapter of growth.”

Terms of the transaction were not disclosed, and the transaction has already closed. Sidley Austin LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Stonepeak. Jefferies served as financial advisor to Stonepeak. Evans Petree served as legal counsel to Fleet.

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.

About Fleet Companies

Fleet Companies is a leading regional trailer dealership and leasing company headquartered in Memphis, Tennessee with additional operations in Nashville, Tennessee and Dallas, Texas. For more information, please visit www.fleetequip.com.

Contacts
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (646) 540-5225

 

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Gimv sells to Fremman Capital a majority stake in outpatient rehabilitation specialist rehaneo

GIMV

rehaneo, a leading provider of outpatient rehabilitation, aftercare, prevention, and occupational health management founded in 2020, welcomes Fremman Capital to its shareholder base. Fremman takes over the majority shareholding previously held by the European investment company Gimv. Founder and CEO Bruno Crone and co-founder and COO Christoph Dühr remain significantly invested in the company and continue their management roles.

Since its founding four years ago, during the peak of the COVID-19 pandemic, Gimv and the managing rehaneo shareholders Bruno Crone and Christoph Dühr have successfully built the company into one of the top three providers in the field of outpatient rehabilitation through a successful buy-and-build strategy. Since 2023, Dr. Alain Robbe-Grillet completes the management team as CFO.

To date, rehaneo has integrated 13 companies at 23 locations nationwide into the group, including some of the leading facilities in Germany. Recently, rehaneo also opened a completely new center in Göttingen.

The rehaneo group now employs over 1,000 staff who are dedicated to the care of more than 80,000 patients and customers annually. The range of services offered by the centers varies by location, from outpatient rehabilitation and rehab aftercare to physiotherapy and occupational therapy, as well as prevention and fitness. In addition to developing locations and the continuous growth of the group, the focus is primarily on the quality of services. This is ensured, among other things, by a medical board with renowned experts, including Prof. Dr. med. Thomas Wessinghage. rehaneo aims to further densify the care network and offer more people professional rehabilitation close to their homes.

Outpatient rehabilitation costs are significantly lower than inpatient stays, benefiting the healthcare system. Additionally, there is increasing demand from patients who want to stay in their familiar environment during rehabilitation. Together with Fremman, the management team intends to continue the successful growth strategy, accelerating M&A and consolidating further a very fragmented sector, to create a European leader.

Bruno Crone, Founder and CEO of the rehaneo group, declares: “We thank Gimv for their active support and the trustful cooperation from the beginning, which made it possible to become one of the leading quality providers in outpatient rehabilitation in such a short time. We are excited to start a new chapter of our success story with Fremman. Our focus will be on acquiring new outpatient rehab centers and the strategic development of existing facilities and the entire group.”

Mirko Meyer-Schönherr and Max Schürenkrämer, Founding Partner and Managing Director at Fremman, add: “We are very impressed by the development of the rehaneo group so far and see great potential in the outpatient rehabilitation sector. We look forward to supporting the experienced and ambitious rehaneo management team in further developing the strategy of the group.”

Philipp von Hammerstein and Lars Timmer, Partner and Principal at Gimv Healthcare, comment: “We are proud that together with rehaneo, we have built a leading company and competent partner in outpatient care in just four years, distinguished by high customer and patient satisfaction as well as high-quality standards.”

The transaction is subject to approval by the German antitrust authorities and is expected to close in Q1 2025. This transaction will have a positive impact on our NAV at 30 September 2024, as will be published on 21 November next, of around EUR 1 per share. The realized return on this transaction substantially exceeds our long-term portfolio return target.

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Dame Sharon White to join CDPQ as Managing Director and Head of Europe

Cdpq

CDPQ, a leading global investor and one of Canada’s largest pension funds, announced today that Dame Sharon White is joining the group as Managing Director and Head of Europe. Her start date will be January 27, 2025.

As part of CDPQ Global, Sharon will work closely with asset class leaders based in the UK, Europe and Montréal to contribute towards the vision and strategy of CDPQ. With her strong leadership skills and significant experience, Sharon will support initiatives that drive value creation in our portfolio companies. She will also promote strong relationships with stakeholders in the UK and Europe and in the local business communities where CDPQ operates – while engaging with partners, government, regulators and industry trade bodies.

“Dame Sharon White is a remarkable business leader across both the private and public sector. Her expertise and collaborative approach will help play an important role in developing CDPQ’s global capabilities and contribute to our growth ambitions both in the UK – our largest investment destination outside of North America – and across Europe.” said Marc-André Blanchard, Executive Vice-President and Head of CDPQ Global and Global Head of Sustainability.

“As one of Canada’s largest pension funds and a global leader in sustainable investing, CDPQ is delivering on its dual mandate of securing returns over the long term to ensure the financial future of over 6 million depositors while also contributing to the economic development of Québec. The opportunity to contribute to this important mission – and continued growth of the group in the UK and globally – is one that I’m really looking forward to.” said Dame Sharon White.

ABOUT DAME SHARON WHITE

Until September 2024, Sharon was Chairman of the John Lewis Partnership – the largest employee- owned business in the UK – for a five-year term. From 2015-2019, she served as Chief Executive of Ofcom, the UK’s media, telecoms and postal regulator. Sharon started her career in the civil service where she initially worked for the Foreign Office – and then in Washington DC as a senior economist at the World Bank – before joining the Treasury and ultimately assuming the role of Second Permanent Secretary helping oversee the UK’s public finances between 2013 and 2015. She is also an experienced Board member in both for-profit (Barratt Developments) and not-for-profit (Sadlers Wells) sectors and from January 2025 will take on the role of Chair at Frontier Economics.

Sharon was awarded a Damehood in the Queen’s New Year’s Honours 2020 for her work at Ofcom and was named as the UK’s most influential black person in the 2023 Powerlist, which aims to provide professional role models for young people of African and African Caribbean heritage. She is actively involved in a range of initiatives, including Britain’s growth potential, climate for business, integrity in business, Girls’ education, Technology and AI and the creative industries.

Sharon holds a Master`s from University College London and BA in Economics from Cambridge University.

ABOUT CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2024, CDPQ’s net assets totalled CAD 452 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.

CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.

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For more information

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From Product to Platform: Our Continued Investment in Cyera -Acccel

Accel

Today, Accel is thrilled to announce that we have led Cyera’s Series D financing round. We’re honored to continue building on our partnership with Yotam and Tamar as they help customers modernize their approaches to data security.

Accel has had the privilege of being Cyera’s partner since its Series A round in 2022. Back then, Yotam and Tamar identified a critical threat facing enterprises: securing vital business and customer data in a world of increasing complexity. Yotam and Tamar saw how cloud migration, data proliferation, and emerging technologies like Generative AI could create data-related security headaches for customers, a problem space with limited innovation and no true platform for managing vulnerabilities. Data-driven cyber attacks are growing in frequency and sophistication, and enterprises across industries are increasingly concerned with protecting against breaches of their own and their customers’ sensitive data.

Over the last year, Cyera has proven itself to be the most innovative player in data security, earning the trust of many Fortune 500 organizations. Yotam and Tamar are building a platform to support customers in securing data assets across multiple vectors – Posture Management, Identity, Data Loss Prevention, to name a few – and are leveraging the latest technologies, like AI and large language models, to do so. The team has innovated rapidly from when we first met Yotam and Tamar through our deep connectivity in the thriving Israeli start-up ecosystem. We continue to be impressed by their passion and by how their forward-thinking perspectives on the market have become reality.

At Accel, we look to back great entrepreneurs and businesses throughout their journeys. We are proud to be the largest institutional investor in Cyera, having previously led the Series A and Series B rounds. We’re excited to invest further in our partnership with the company, and we can’t wait to see what Yotam, Tamar, and the rest of the team accomplish.

The Accel Team

‍

Philippe Botteri

Based In

London

Focus

AI

Cloud/SaaS

Security

Specialty

Early Stage

Late Stage

Team

Philippe Botteri

Philippe Botteri

Humza Tariq

Based In

Bay Area

Focus

Enterprise

Consumer

Fintech

Specialty

Late Stage

Team

Humza Tariq

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Ontario Teachers’ and Nordic Capital jointly acquire Max Matthiessen, a leading Nordic financial advisor, to drive further growth and expansion

Nordic Capital
  • New joint ownership will support Max Matthiessen in fulfilling its accelerated international growth plan both organically and through acquisitions
  • With its CAD 13 billion financial services private equity portfolio, Ontario Teachers’ will bring additional value creation capabilities and experience in building international insurance distribution and wealth management companies
  • The transaction will allow Nordic Capital to further fuel Max Matthiessen’s development, based on the strong platform created over the last four year

Ontario Teachers’ Pension Plan (“Ontario Teachers’”), a major global institutional investor, and Nordic Capital, an experienced Financial Services private equity investor in Northern Europe, today announced an agreed new co-control ownership for Max Matthiessen (“Max Matthiessen” or “the Company”), a leading financial advisor for pensions, insurance and investments in the Nordics.

The new ownership will support the Company’s continued growth and international development. Both investors have a shared vision for Max Matthiessen’s next phase and can draw upon a strong track record of building successful international insurance distribution and wealth management companies.

Max Matthiessen provides pension, insurance and wealth management solutions for employers, entrepreneurs and individuals. It offers advice, analysis, administration and procurement of pension and insurance products as well as investment and asset management solutions. Founded in 1889, Max Matthiessen is headquartered in Stockholm, Sweden and has more than 800 employees at 45 locations across the Nordic region, serving over 18,000 corporate clients. The Company is also committed to sustainable investments, providing its clients access to high-quality ESG-focused products.

With its strong management team and established position as a leading, integrated employee benefits and risk platform, Max Matthiessen is well-placed to build on its growth momentum. This acquisition enables the Company’s further access to long-term capital and sector expertise to accelerate its expansion into international markets both organically and through acquisitions.

Iñaki Echave, Senior Managing Director and Head of EMEA Private Capital at Ontario Teachers’, said: “We are excited to back Max Matthiessen’s management team. Our joint ambition is to consolidate Max Matthiessen as the leading insurance and financial services company in the Nordics, accelerating its growth both in its current markets and verticals, and through synergistic acquisitions. We will leverage our deep expertise in wealth management and insurance services to help the company expand into new markets and adjacent segments, invest in technology and product development, and further enhance its ambitious sustainability programme. We look forward to partnering with Team Max Matthiessen, who share Ontario Teachers’ passion for helping people achieve financial security over the long term.”

Emil Anderson, Partner and Co-Head Financial Services, Nordic Capital Advisors, said: “Nordic Capital is enthusiastic to invest further in Max Matthiessen together with Ontario Teachers’ to allow the company to continue to scale its business model and build on market dynamics in its segment. In 2020, Nordic Capital invested in Max Matthiessen to realise its potential by scaling the Company’s platform, driving growth through investing in the team, modernising the product offering to benefit the individual customer, and exploring selective international acquisition opportunities. Today, Max Matthiessen has strong consistent growth, a platform providing a comprehensive end-to-end solution and a sustainable product offering that attracts a much broader audience. Max Matthiessen is now poised for its next phase of continued international growth, delivering outstanding services to its customers.”

Jacob Schlawitz, CEO, Max Matthiessen said: “We are excited to have Ontario Teachers’ backing the next phase of our development alongside Nordic Capital. This partnership underscores our commitment to putting clients at the heart of everything we do. We are grateful for Nordic Capital’s support, together we have reached significant milestones — expanding our client offerings, driving sustainability, entering new markets, all while staying focused on delivering value to our customers. At the same time, we have been strategically investing in our future by enhancing client value and developing talent, ensuring the company is well-positioned for sustained growth and success. With Ontario Teachers’ joining this partnership, we are excited to leverage their expertise to expand our reach and thereby serve even more clients across both the Nordics and internationally.”

Ontario Teachers’ will acquire a co-control stake in Max Matthiessen through its Private Capital division. Nordic Capital initially invested in Max Matthiessen in 2020 and will now invest via Nordic Capital XI, following the exit of its initial investment through Nordic Capital IX.

Insurance and financial services are a core sector of focus for Ontario Teachers’, which has direct investments in the sector worth more than CAD 13 billion. The Private Capital team at Ontario Teachers’ has made 14 investments in financial services companies globally, 12 of which it has led or co-led. Recent transactions in the sector include Ontario Teachers’ acquisitions of 7iM, a leading UK wealth and investment manager; European trading and savings platform TradeRepublic; Diot-Siaci, a leading independent European insurance broker operating worldwide; and Westland Insurance Group, one of the largest independent insurance brokers in Canada, through portfolio company, BroadStreet Partners.

With a dedicated sector-focused team, Nordic Capital is an experienced private equity investor in Financial Services in Northern Europe. It focuses on fast growing segments with strong underlying fundamentals such as Savings and Wealth Management, Banking & Lending and P&C Insurance. Over the last six years, Nordic Capital has completed 18 transactions within financial services and financial technology and has deployed EUR 3.3 billion of equity capital in the sector to date. Its current Financial Services portfolio generates EUR 1.3 billion of revenues and employs over 3,200 people. Nordic Capital has achieved success in this sector to date, having developed thriving companies including Max Matthiessen, Nordnet, NOBA, RiskPoint and Qred.

Terms of the transaction were not disclosed. The investment is subject to customary regulatory approvals and expected to be completed in H1 2025.Houlihan Lokey acted as leading financial sell side advisor.

Contact Details

Ontario Teachers’
Henrietta Dehn / Alisha Prakash
Email: media@otpp.com

Kekst CNC
Email: OTPP@kekstcnc.com

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

About Ontario Teachers’ Pension Plan
Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is a global investor with net assets of CAD 255.8 billion as at June 30, 2024. We invest in more than 50 countries in a broad array of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth to deliver retirement income for 340,000 working members and pensioners.

Our more than 450 investment professionals operate in key financial centres around the world and bring deep expertise in a broad range of sectors and industries. We are a fully funded defined benefit pension plan and have earned an annual total-fund net return of 9.3% since the plan’s founding in 1990. At Ontario Teachers’, we don’t just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we back, and the world we live in. For more information, visit otpp.com and follow us on LinkedIn.

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 with EUR 1.2 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 Max Matthiessen

Max Matthiessen, founded in 1889, is one of the leading financial advisors within pensions, insurance and investment in the Nordic region. They offer expert advice and guidance on savings, benefits, and insurance to companies and their employees, as well as to private individuals. Their team of advisors, brokers, administrators, and specialists supports businesses and individuals with procurement, analysis, packaging, advisory services, and the administration of top-tier savings and insurance solutions available in the market. Today, the company employs approximately 800 people across Sweden, Denmark and Norway.

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Portobello Capital raises follow-on vehicle for BlueSea

Portobello

We are pleased to share that Portobello Capital has successfully completed the closing of a continuation vehicle for BLUESEA Hotels, our portfolio company specialized in delivering value-for-money experiences in the Spanish hospitality sector. This achievement was made possible thanks to the leadership of Partners Group on behalf of its clients, along with the valuable contributions of Neuberger Berman, Mercer, and Florestan.

“At Portobello, we want to reaffirm our support for BLUESEA Hotels and its management team through this important transaction, which will provide the company with additional resources for strategic investments and position it strongly to seize future growth opportunities.”

Carlos Dolz de Espejo Cardenal, Partner at Portobello

Another step forward in our commitment to growth!

Press Release

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