Archives

EQT acquires Saxo Payments Banking Circle

eqt

  • EQT VIII and EQT Ventures, in partnership with Saxo Payments Banking Circle’s founders and other co-investors, to acquire Saxo Payments Banking Circle
  • Saxo Payments Banking Circle’s unique banking platform enables cross-border payments with reduced complexity, time and cost
  • EQT to support Saxo Payments Banking Circle’s continued growth by leveraging the entire EQT platform, including around 25 years of experience in future-proofing companies as well as accelerating hyper-growth businesses, deep TMT expertise, and a global industrial network

The EQT VIII fund (“EQT VIII”) and EQT Ventures fund (“EQT Ventures”) (jointly “EQT”) have together with company founders and other co-investors entered into an agreement to acquire Saxo Payments Banking Circle (“Banking Circle” or “the company”) from Saxo Bank A/S and other minority owners. EQT VIII will have the majority ownership.

Founded in 2013, Banking Circle is a next-generation provider of mission-critical infrastructure for online cross-border payments. Today, Banking Circle is processing around EUR 60 billion run-rate annual payment volumes for several high-profile customers using direct clearing access through partnerships with blue-chip partner banks. The global cross-border payments market is driven by an increasing need for faster and less costly payments, compliance, and transparency, resulting in one of the fastest growing segments within the payments ecosystem.

EQT will support the continued acceleration of Banking Circle’s growth strategy, in current and new geographies, as well as the expansion of the product portfolio. Through EQT, Banking Circle will get access to both operational and financial resources to drive innovation and investments in technology development and talent acquisition. The company will also be able to leverage the entire EQT platform, including deep TMT sector expertise, local presence and EQT’s global network of Industrial Advisors. Banking Circle’s current management team, including founders and co-CEOs Anders la Cour and Laust Bertelsen, will continue to lead the organization, building on a strong track record of growth.

“We are proud of Saxo Payments Banking Circle’s development and growth. As investor and incubator, we have supported the company with our core competencies in foreign exchange as well as developing and managing global fintech solutions. It is not an easy task to build fintech solutions that create value and are long-term sustainable, but the company has done what few succeed in. We see EQT as the ideal partner for the next part of the journey and we are confident that Saxo Payments Banking Circle will thrive and continue its impressive growth trajectory. We look forward to continuing a close collaboration with the company and EQT, leveraging our technology and market access”, says Kim Fournais, founder and CEO of Saxo Bank.

Anders la Cour and Laust Bertelsen, co-CEOs at Banking Circle comment: “We would like to thank Saxo Bank for a great partnership and look forward to a close collaboration in the years to come. We are excited to partner with EQT. With their support, we will be ideally positioned to continue innovating to serve our customers even better and continue our rapid growth.”

“We have followed Banking Circle for several years and are impressed by the company’s management team and unique innovation capabilities. Saxo Bank and Banking Circle’s management team have built an innovative, secure, and highly automated platform to make competitive, faster, and more transparent payments across borders. EQT is looking forward to supporting Banking Circle and the management team on their continued growth journey and in building a leading global payments infrastructure player. The cooperation between EQT VIII and EQT Ventures enables Banking Circle to benefit from the full EQT platform”, says Mads Ditlevsen, Responsible Deal Partner and Partner at EQT Partners, Investment Advisor to the majority owner EQT VIII.

“We’re excited to partner with the entrepreneurs behind Banking Circle and support them in building the next generation infrastructure for cross-border payments,” says Hjalmar Winbladh, Partner at EQT Partners and Investment Advisor to EQT Ventures. “Cross-border payments is a large and rapidly growing market dominated by traditional players. Banking Circle has built a disruptive solution with a strong value proposition. The customer feedback is excellent and the company’s traction is evident looking at the triple digit growth of the business.”

The transaction is expected to close in Q4 2018, subject to approval from financial regulators.

Contacts
Mads Ditlevsen, Partner at EQT Partners, Investment Advisor to EQT VIII +45 2325 0158
Hjalmar Winbladh, Partner at EQT Partners, Investment Advisor to EQT Ventures +46 708 323286
EQT Press office +46 8 506 55 334
Banking Circle Press office (Harrison Sadler) +44 208 977 9132 bankingcircle@harrisonsadler.com

About Banking Circle
Banking Circle is a rapidly growing payments infrastructure platform that enables faster, competitive and more transparent payments clearing, reducing complexity relative to the traditional correspondent banking network. Today, Banking Circle has around 85 employees and is headquartered in Denmark, with offices in Denmark, Luxembourg and the UK. The company is processing around EUR 60 billion run-rate annual payment volumes for several high-profile customers using direct clearing access and partnerships with blue-chip partner banks.

More info: www.bankingcircle.com

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Saxo Bank
Saxo Bank Group (Saxo) is a leading Fintech specialist focused on multi-asset trading and investment and delivering ‘Banking-as-a-Service’ to wholesale clients. For 25 years, Saxo’s mission has been to democratize investment and trading, enabling clients by facilitating their seamless access to global capital markets through technology and expertise.

As a fully licensed and regulated bank, Saxo enables its direct clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides wholesale institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology, supporting the full value chain delivering Banking-as-a-Service (BaaS).

Saxo’s award winning trading platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide. Founded in 1992 and launching its first online trading platform in 1998, Saxo Bank was a Fintech even before the term was created. Headquartered in Copenhagen Saxo Bank today employs more than 1500 people in financial centers around the world including London, Paris, Zurich, Dubai, Singapore, Shanghai, Hong Kong and Tokyo.

More info: www.home.saxo

Categories: News

Tags:

Ardian partners with Wise to accelerate the development of Corob, a global leader in automation solutions for dosing and dispensing

Ardian

Paris, July 9th 2018. Ardian, a world-leading private investment house, today announces the signing of an agreement with Wise SGR to acquire a majority stake in Corob SpA, a global leader in the supply of automation solutions for dosing and dispensing in the chemical, paint, coatings and ink industries. Ardian will invest alongside Wise SGR and Corob’s senior management team to consolidate the repositioning of the company globally, maintain its technology leadership and accelerate Corob’s growth, both organically and through acquisitions.

Headquartered in San Felice sul Panaro (Modena, Italy), Corob supplies a wide range of high tech automation solutions used in the production and distribution of paints and coatings, inks and chemical substances worldwide, in addition to the related after-sales services. The current senior management team at Corob, led by President and CEO Fernando Bertoni, brings a wealth of strong global experience, and will continue to lead the company.

Corob was founded in 1984, introducing to the market the first automatic color dispensing system. In 2016 Wise SGR acquired 100% of the capital, and two acquisitions, in Canada and Southern Europe, have expanded the business by strengthening its industrial plants and after-sales service segments.

With more than 700 employees, 10% of which are employed in R&D, and a turnover of over €100 million, in addition to four  production and engineering centers in Italy, India, Canada and Finland and 14 commercial and services centers, Corob is the only player in the market able to combine a wide range of automation solutions with an excellent and widespread after-market service organization worldwide. 6% of the turnover is generated in Italy, 37% in the rest of Europe, Middle East and Africa, and the remaining 57% in America and Asia.

Ardian will work together with the management team in the growth strategy, both organic and through acquisitions, leveraging its international network. Well known for its strong presence in the point of sale market segment, the Company, supported by Ardian and Wise SGR, will accelerate its growth by investing in a further expansion of the industrial plants and the after-market services segments.

Fernando Bertoni, President and CEO of Corob, commented: “We are privileged at Corob to have the support and guidance of two of the best global investors in the world. The arrival of Ardian will allow us to accelerate the implementation of our international strategic business plan through additional investments in technology, people and execution capabilities. The partnership of Ardian and Wise and the involvement of the senior management in Corob’s capital is very important for our customers, employees and other key stakeholders, and materially strengthens the present and future of our superb franchise.”
Paolo Bergonzini, Managing Director and Head of Ardian Expansion in Italy, added: ”Corob is an excellent Italian company that already benefits from a strong worldwide appreciation for its highly specialized products. We will provide Corob with our experience and expertise and, together with the company and Wise, we will be able to bring out the full potential of this important Italian industrial company.”

Valentina Franceschini, Partner at Wise SGR, concluded: “We are very proud of how the company has grown in the last two years, both organically and through two acquisitions in 2017, and how we have contributed to the evolution of the group’s growth strategy through a new corporate leadership and, more generally, the strengthening of the management team. We have also laid a solid basis on which Corob can continue to rapidly grow, to serve customers with distinctive and individual solutions. Ardian’s entry is a great opportunity for Corob to further invest in its growth.”

ABOUT COROB

Headquartered in San Felice sul Panaro (Modena, Italy), Corob S.p.A. has been a world leader in the supply of high technology automation solutions for dosing and dispensing for 35 years. The Group supplies applications in the paint and coatings, inks and chemical industries, as well as providing the related after-sales services on a global scale, thanks to a capillary organization dedicated to management and maintenance.
Founded in 1984, Corob now has around 700 employees, 4 production and engineering centers, 14 commercial and after-sales service centers around the world. In 2017 turnover exceeded 100 million euro, of which only 6% was generated in Italy.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$71bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 500 employees working from fourteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of around 700 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian
www.ardian.com

ABOUT WISE SGR

Wise SGR specializes in the management of Private Equity closed-end funds, investing in small and medium-sized companies, with a special focus on Italy. The funds managed by Wise are typically involved in Leverage Buy-Out and capital increase transactions, dedicated to companies that are leaders in their niche markets. The two major objectives are to lead “build-up” transactions, in order to enhance competitiveness and profitability, and to push the international development.
Wise, controlled by the management team, has currently two funds under management: Wisequity III, with commitment exceeding 180 M€, has three remaining companies in the portfolio: Colcom Group, NTC Controls, having already realized the investments held in Edos Media, Kijan, Primat, Biolchim and Alpitour. Wisequity IV closed the fund raising in March 2016 reaching its hard cap at 215 M€ and already invested the 50% of its own capital in five companies: Corob, Imprima, Tapì, Tatuus Racing and Aleph.
www.wisesgr.it

INVOLVED PARTIES

ARDIAN
Advisor to the Fund: Ardian Italy S.r.l. (Paolo Bergonzini, Marco Molteni, Michela Peigottu, Luca Sigismondi, Elisabetta Bozzoni)
M&A buyside advisors: Vitale&co (Riccardo Martinelli, Mariacristina Moro, Azzurra Bisogno)
Accounting: KPMG (Matteo Contini, Lorenzo Brusa, Riccardo Lettieri)
Business: Goetzpartners (Giovanni Calia, Filippo Cerrone)
Legal / Corporate: Gattai, Minoli, Agostinelli, Partners Studio Legale (Stefano Catenacci, Lorenzo Fabbrini)
Legal / Finance: Gattai, Minoli, Agostinelli, Partners Studio Legale (Gaetano Carrello)
Tax: Gitti and Partners (Diego De Francesco, Alberto Pallicelli), KPMG (Stefano Cervo)
Environment: Tauw (Milena Brambilla)
Banks: Unicredit (Giovanni Vasini, Lorenzo Longo)Wise SGR
Advisor to the Fund: Wise SGR S.p.A. (Valentina Franceschini, Davide Arrigoni)
Accounting: EY (Marco Ginnasi, Andrea Di Bella)
Business: Long Term Partners (Marco Occhetta, Simona Dossena, Lorenzo Colombo)
Legal: BonelliErede (Eliana Catalano, Augusto Praloran, Giorgia Ferretti)
Tax: Studio Spada (Guido Sazbon, Bernando Porcellini)

PRESS CONTACTS

ARDIAN
Headland
Harriet Smith
Tel: +44 20 3435 7466
hsmith@headlandconsultancy.com
WISE SGR
Close to Media – società fondata da Elisabetta Neuhoff
Luca Manzato – luca.manzato@closetomedia.it – 02 70006237 – 335 8484706
Adriana Liguori – adriana.liguori@closetomedia.it – 02 70006237 – 345 1778974
Lucrezia Martinoli – lucrezia.martinoli@closetomedia.it – 02 70006237

Categories: News

Tags:

HQ Equita acquires r2p and Open Access to build a leading player in the fast-growing market for intelligent digital public transport solutions

HQ Capital

Bad Homburg, 9 July 2018. HQ Equita Beteiligungen V GmbH & Co. KG, advised by HQ Equita GmbH (“HQ Equita”), has signed an agreement with the Swedish investor Alder Fund I AB (“Alder”) to acquire a majority stake in r2p GmbH (“r2p”), based in Flensburg. Simultaneously, HQ Equita will acquire Open Access Pty Ltd (“Open Access”) based in Sydney, to become a subsidiary of r2p, thereby extending the group’s global reach to Australia, Southeast Asia, and North America.

Founded in 2009 with headquarters in Flensburg, r2p is a rapidly growing technology group in the intelligent transport market, which develops both proprietary hard- and software, offering products and components for use in moving vehicles, stations and control centres. Alder, a Sweden-based growth investor, which focuses on majority investments in the sustainable technology sector, acquired r2p in 2012. Since then, r2p has made several add-on acquisitions in Denmark and the UK and has founded subsidiaries in Brazil and Switzerland, resulting in a competitive international presence. The current setup is enhanced by a close co-operation with Open Access, an Australian provider of technology and solutions for integrated passenger information and audio communication systems, active throughout Australia, Southeast Asia and through partners in North America. Upon closing of the transaction, HQ Equita will combine and integrate r2p and Open Access into one group to realise the untapped cross-selling potential arising from the two companies’ complementary product portfolios, applications and geographies. The combined group also seeks to become an active industry consolidator – aiming to acquire complementary technology and product solutions and to further increase its global delivery and service capabilities.

The management teams of both r2p and Open Access remain significant shareholders and are committed to growing the company further through active management and development of the group.

Henrik Flygar, Partner at Alder, says: “We have worked closely with r2p to build a strong international platform. With HQ Equita we have found a new owner for r2p, who has the necessary financial resources and network to continue to drive the group’s organic and inorganic growth. r2p will certainly benefit from HQ Equita’s sector expertise.”

Ulrik Rasmussen, CEO of r2p, adds: “With HQ Equita as our new owner, we will be able to consolidate the existing group, and build the required structures to accommodate further growth. The entire r2p management team is highly committed to further developing the group into a leading provider of intelligent transport solutions.”

Brendan Dooley, CEO of Open Access explains: “Open Access and r2p align well with respect to geographical coverage, technology and management experience. The merged group is well positioned to deliver compelling integrated solutions to the market. We look forward to working closely with HQ Equita.”

Hans J. Moock, Managing Director of HQ Equita, emphasizes: “The underlying intelligent transport market is expected to continue to grow at attractive double-digit rates in the next years. With the acquisition of r2p and Open Access, we seize the opportunity to participate in this promising growth case close to and overlapping with a product market we know well from our previous investment in MEN Mikro Elektronik. r2p’s integrated solutions portfolio and its cutting-edge technology combined with an extraordinary management team makes this acquisition an ideal platform for future inorganic growth.”

The parties have agreed not to disclose the purchase price and other details of the contractual agreement. The closing of the transaction is expected for mid-July.

HQ Equita was supported in the transaction by the following advisors: DC Advisory (M&A, Debt Advisory), Gleiss Lutz (Law, Sales Contract, Taxes), civity Management Consultants (CDD), Rödl & Partner (FDD), Aon (Insurance, W&I), ERM (Environment, ESG).

Alder was supported in the transaction by the following advisors: Lincoln International (M&A), Deloitte (Finance, Taxes), White & Case (Law, Purchase Agreement).

About r2p

Headquartered in Flensburg, Germany, r2p is a globally active provider of IP-based system solutions for public transport covering communication, security and monitoring applications. The fully integrated portfolio of hard- and software products for passenger and fleet flow management r2p offers include CCTV, Passenger Information Systems (PIS), Passenger Announcement (PA), passenger counting, infotainment and fleet management with real-time data transfer and analysis for rail and road vehicles. The group has a network of subsidiaries in Denmark, the UK, Switzerland and Brazil. r2p currently employs around 117 people.  For further information, please refer to www.r2p.com

About Open Access

Headquartered in Sydney, Australia, Open Access primarily provides solutions for integrated passenger information and audio communication systems in the public transportation space. The group has a subsidiary in Kuala Lumpur, Malaysia, and employs c. 53 people. It is primarily active in Australia, Southeast Asia and through partners in North America. For further information, please refer to www.oa.com.au

About Alder

Alder is a Swedish growth investor within the sustainable industry sectors focused on investments in proven and established companies with strong growth potential. Alder currently manages investment funds with committed capital of approximately EUR 200 million. For further information, please refer to www.alder.se

Categories: News

Tags:

Horizon invests in DMC Canotec

Horizon Capital

Horizon, the leading investor in UK business services and technology companies, is pleased to announce its investment in DMC Canotec, one of Britain’s biggest providers of managed print and document management services. The transaction marks Horizon’s first new platform of the year and has been funded by a number of Horizon’s existing limited partners, as well as new institutional investors.

”From the first meeting, we felt Horizon would be a natural fit and it was clear they understood our values and ambitions for the business.

DMC Canotec was established in 1991 by CEO Jon Hill and his business partner Justin Nicholson. They have overseen the growth of the group to establish it as one of the largest and most advanced independent suppliers of print, archive and document management systems in Europe. DMC, based in Croydon, Surrey, employs over 170 people and serves clients across the SME market, with high-levels of recurring revenues.

Having recruited Simon Davey as Managing Director in 2016, DMC Canotec has grown revenues by more than 24% since his appointment. Horizon is investing alongside Jon and his management team to support the continued growth and development of the business and enable the company to make further acquisitions to broaden its portfolio of managed services. Horizon sees an exciting opportunity to accelerate DMC Canotec’s consolidation of what remains a highly fragmented market, with over 300 companies in the UK.

Horizon has a strong track record of investing in tech-enabled business services and specialises in supporting companies with their acquisition strategies. The deal was led by Horizon partner Luke Kingston and the team included Tom Maizels, Matt Morris and Simon Hitchcock. Luke and Tom will join the DMC board.

The DMC transaction follows a busy period for Horizon, which most recently backed Sabio Group in its £10m acquisition of Bright UK, a customer and employee satisfaction survey software provider. This was the fifth add-on made by Horizon portfolio companies this year.

Luke Kingston, Partner at Horizon Capital, said:
“Having closely followed the managed services market for several years, we identified DMC Canotec as an outstanding business with huge potential for growth in a highly fragmented space. We look forward to working with Jon, Simon and the team to help the company realise its ambitions and lead consolidation of the sector.”

Simon Hitchcock, Managing Partner at Horizon Capital, added:
“Following Horizon’s restructuring in January, we are delighted to have concluded the DMC investment. The transaction demonstrates the strong support of both key existing and new investors for the Horizon platform. Our pipeline of new platform and add-on investments remains very strong and we look forward to concluding further deals later in the year.”

Jon Hill, CEO and Co-founder of DMC Canotec said:
“Since founding DMC, we have built a strong and scalable business and we are excited to partner with Horizon. From the first meeting, we felt they would be a natural fit and it was clear they understood our values and ambitions for the business. The team and I look forward to drawing upon the skills and experience of Horizon as we seek to grow our business even further.”

Simon Davey, Managing Director of DMC Canotec said:
“When partnering with a private equity firm to help grow our business, Horizon was the ideal choice given their expertise and track record of backing acquisitive companies in fragmented markets. We look forward to working with them and growing the business over the coming years.”

Horizon were advised by Deloitte, CIL, Harrison Clark Rickerbys, Rothschild, Spectrum Corporate Finance and Forward Corporate Finance.

Categories: News

Tags:

Adelis acquires Didriksons

Adelis Equity

Didriksons has grown significantly in recent years and strengthened its position as one of the leading brands for rain- and functional wear in Scandinavia. To support the continued growth journey of the company, Adelis Equity Partners is acquiring a majority stake in Didriksons from a fund managed by Herkules Capital. Management will continue in their present roles and as significant owners in the company.

Didriksons was founded in 1913 as a manufacturer of workwear for fishermen. Today, the company is a leader in Scandinavia within rain- and functional wear, and produces functional, durable and well-designed garments for women, children and men. The growth in recent years has been driven by expansion in new geographic markets and e-commerce. Didriksons is currently sold in more than 19 countries with a third of sales coming from online channels, and has a turnover of around SEK 500 million.

”Didriksons has gone through an expansive period, where we have successfully grown in the Nordics and internationally, through considerable investments in product development and a strengthened customer offering. We are pleased to have Adelis as a new majority owner to support us in the next step of our exciting growth journey. Adelis has a strong network and extensive experience of developing Nordic brands and consumer goods companies. This makes them a strong partner for us, which will be valuable when we continue to implement our growth strategy,” says Johan Ekeroth, CEO of Didriksons.

”With its strong brand offering based on functionality and timeless design, and its niche position within rain- and functional wear, we see strong potential for continued growth for Didriksons. We are impressed by the company’s management and the strong development in the Nordics and in other European countries. We are looking forward to supporting Didriksons’ growth and developing the company together with management,” says Lene Sandvoll Stern at Adelis.

In connection with the transaction Mats Hedblom, former CEO of Haglöfs, will join the new board of directors.

The parties have agreed not to disclose the terms of the transaction. The transaction is subject to customary regulatory approvals.

For further information:

Didriksons: Johan Ekeroth, johan.ekeroth@didriksons.com, +46 706 54 32 48

Adelis Equity Partners: Lene Sandvoll Stern, lene.stern@adelisequity.com, +46 702 81 34 24

About Didriksons

Didriksons was founded in 1913 as a manufacturer of workwear for fishermen. Today, the company is one of the leading brands in Scandinavia within rain- and functional wear for the entire family. Didriksons’ turnover is around SEK 500 million, and its products are sold in more than 19 countries with one third of sales coming from online channels. For more information please visit www.didriksons.com.

About Adelis Equity Partners

Adelis is an active partner in creating value at medium sized Nordic companies. Adelis was founded with the goal of building the leading middle market private equity firm in the Nordics. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, acquiring 16 platform investments and making more than 40 add-on acquisitions. Adelis now manages approximately €1 billion in capital. For more information please visit www.adelisequity.com.

Subscribe

Documents & Links

 

Categories: News

Tags:

Latour acquires Hellberg Safety AB

Latour logo

Investment AB Latour has, through its subsidiary Hultafors Group AB, signed an agreement to acquire Hellberg Safety AB (“Hellberg”) based in Stenkullen, Sweden. Closing will take place with immediate effect.

Hellberg is a specialized supplier of hearing protection, face protection and communication solutions for personal protection purposes. Founded in Sweden in 1962 the company has grown to now have presence in 50 markets with its own R&D, production, assembly and warehouse operations at the headquarters in Stenkullen. Net sales amounted to SEK 66 m in 2017 with a profitability well in line with Latour’s financial targets. The company has around 20 employees.

The acquisition is part of Hultafors Group’s strategy to broaden its portfolio within the PPE area. Through the acquisition Hultafors Group will gain access to a complete portfolio of highly advanced hearing protection products as well direct customer relationships with some well recognized blue-chip companies.

“We are thrilled about this acquisition as we think Hellberg will be a perfect match for Hultafors Group in fulfilling our ambitions within the PPE-area and we see a lot of opportunities going forward when combining the Hellberg portfolio with the Hultafors Group sales network” says Ole Kristian Jødahl, CEO at Hultafors Group AB.

“Hultafors Group is a company which we have known for quite some time and we believe that Hultafors Group’s existing customer relations and network in many countries will serve as an excellent foundation in taking the current business of Hellberg to the next level”, say Joakim Ohlander and Colin MacKenzie, previous owners of Hellberg.

As an effect of the acquisition the net debt of Investment AB Latour is expected to increase to around SEK 4.5 billion compared to the net debt level at the end of March 2018 as communicated in the Interim report January – March 2018.

Göteborg, July 6, 2018

INVESTMENT AB LATOUR (PUBL)
Jan Svensson
President and CEO

For further information, please contact:
Ole Kristian Jødahl, CEO Hultafors Group AB, +47 900 88 305
Jens Eriksson, Director, M&A and Strategy Hultafors Group AB, +46 702 114 601

Hultafors Group offers a dynamic range of premium brands to rely on – for distributors and craftsmen alike. Through its various brands Hultafors Group is represented in 40 countries and has over 11,000 point of sales. Hultafors Group has 700 employees and an annual turnover of about SEK 1.9 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 50 billion. The wholly-owned industrial operations has an annual turnover of about SEK 10 billion. 

Categories: News

Tags:

Oakley agrees sale of Damovo

oakleycapital

Oakley Capital Private Equity II (“Fund II”) is pleased to announce that it has reached an agreement to sell its stake in Damovo Group (“Damovo”), a leading independent European unified communications and collaboration (“UC&C”) company, to UK Atlanta Holdings LLC. The transaction, which is subject to regulatory approval,  values Damovo at up to €140 million, comprising an upfront consideration of €115 million and further consideration of up to €25 million, dependent on Damovo’s financial performance in the year to 31 January 2019.

Oakley invested in Damovo in 2015, in a proprietary deal that was sourced via Oakley’s network of business founders and management teams, as is typical for Oakley investments. Matthew Riley, the successful UK entrepreneur and founder of Daisy, another Oakley portfolio company, identified the opportunity to acquire Damovo in a complex carve out. The underlying business units which were in need of new investment, were consolidated into one combined and cohesive company.

Under Oakley’s ownership, Damovo has been transformed into a recognised European specialist in delivering and managing critical UC&C solutions for enterprise and public-sector organisations. The business has returned to organic growth by winning and delivering large, multi-year managed services contracts, and this has been supported by the integration of three strategic acquisitions. This growth, as well as a more efficient group structure put in place by the experienced management team, has lead to the business more than doubling EBITDA since Oakley’s initial investment.

David Till, Senior Partner at Oakley Capital Private Equity, commented:

“We would like to thank Matthew Riley, Glen Williams, Stuart Hall and the team for their tireless work in transforming the business over the past three years. Damovo is now a very well-respected and competitive player in the growing European market. It has the highest levels of vendor accreditation and has won a number of awards for its excellent customer service.  We are proud of the part we have played in its evolution, with the business ideally positioned for its next phase.”

A team from EY led by Richard Harding and Olivier Wolf carried out vendor due diligence services for Damovo.

 

Categories: News

Tags:

CapMan Buyout to sell InfoCare Group to Katalysator

Funds managed by CapMan Buyout have agreed to sell their holdings in InfoCare Group to the Norwegian private equity investment company Katalysator.

CapMan Buyout funds’ exit from portfolio company InfoCare Group (“InfoCare”) is already the sixth transaction within the last eight months.

InfoCare is one of the leading IT services companies in the Nordic countries. InfoCare’s services comprise field service, staffing services and spare parts logistics within the IT sector. In 2017 the net sales of InfoCare was approximately MEUR 90 and it employed a total of 870 persons.

“InfoCare is an undisputed market leader for more than 30 years in the Nordics and over the last years, the company has undergone a significant reorganization in terms of divestment of non-core business, new management, initiating cost efficiency programs and a new strategy for growth. InfoCare has a lot of potential to create stronger growth in existing and new business areas with the help of highly professional employees and satisfied top tier customers,” says Hanna Ideström, Investment Director at CapMan Buyout and responsible for the investment in InfoCare.

“We are very satisfied to have Katalysator as the new majority owner of InfoCare. Katalysator’s active and long-term investment perspective is important for us to realize our new strategy Skylift. With main focus on Customer Orientation, Operational Excellence and Growth we are going to lift InfoCare to new heights. Together with Katalysator and our fantastic employees, that is our most important asset, will we make this happen. I would like to thank CapMan for the continuous support during CapMan’s ownership,” says Kjell Magne Leirgulen, CEO of InfoCare.

“InfoCare has established a unique position in the Nordic market within IT services and we are very impressed by the management team. Katalysator will through active ownership support the management team and the development of the business, with strong customer focus, best practice operations and new growth initiatives. We see a significant potential for continued growth in the Nordics and look forward to work together with InfoCare’s employees in the coming years,” says Jon Håkon Pran, CEO of Katalysator.

Katalysator is a family owned investment company focusing on investments in medium-sized companies in Scandinavia. Katalysator currently has a portfolio of 6 companies and the team comprises 5 investment professionals.

The completion of the transaction is pending certain conditions including approval from competition authorities. Bridgehead acted as an advisor for CapMan Buyout in the transaction.

The CapMan Buyout team comprises 12 investment professionals working in Helsinki and Stockholm. The funds managed by CapMan Buyout invest in medium-sized, unlisted companies in the Nordic countries.

For more information, please contact:
Hanna Ideström, Investment Director, CapMan Buyout, tel. +46 705 861 348
Kjell Magne Leirgulen, CEO, InfoCare Group, tel. +47 97 72 31 21
Jon Håkon Pran, CEO, Katalysator, tel. +47 91 33 93 42


CapMan
www.capman.com
@CapManPE

CapMan is a leading Nordic private asset expert with an active approach to value-creation in its target companies and assets. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers we have developed hundreds of companies and real estate and created substantial value in these businesses and assets over the last 28 years. CapMan has today approximately 120 private equity professionals and manages approximately €2.8 billion in assets under management. We mainly manage the assets of our customers, the investors, but also make investments from our own balance sheet. Our objective is to provide attractive returns and innovative solutions to investors. Our current investment strategies cover Real Estate, Buyout, Russia, Credit, Growth Equity and Infrastructure. We also have a growing service business that currently includes procurement services (CaPS), fundraising advisory (Scala Fund Advisory), and fund management services.

 

Categories: News

Tags:

Oura Health strengthens its position in the US market

Tesi

Oura Health, the Finnish health technology company behind the Oura ring, has moved its total private funding to 12.5M€ after the closure of a round led by US-based Bold Capital Partners and Finland’s Tesi. The company also appoints new board members with US industry expertise for latest growth phase.

The Oura ring and app guides wearers towards better sleep, recovery and readiness to perform by analyzing the body’s sleep, activity levels, daily rhythms and physiological responses. The funding will be used to scale US market operations and push the Oura platform forward.

Former Oura Health CEO Petteri Lahtela will focus on developing new products and services in his new roles as Oura Health President and Chief Innovation Officer while continuing his position on the Oura Health board. Former Ouraring Inc. President Harpreet Rai has been appointed as the new Oura Health CEO, with US industry specialists Stephen Friend and Kevin Lin also joining the Oura Health board.

“The successful launch of the new Oura ring shows the level of innovation and craftsmanship that Oura Health is capable of. Moving forward, our main goal is to drive awareness and sales in our largest market, while doubling down on the very innovation that brought us here in the first place,” says Harpreet Rai, CEO of Oura Heath.

“I have great respect for Harpreet. He knows the US market and can lead us towards growth and greater market penetration. I’m excited for this next phase for Oura, and am looking forward to focusing on new innovative products and services which I am most passionate about,” says Oura Health CIO Petteri Lahtela.

Oura Health CEO Harpreet Rai previously led investments in technology, media and telecom at New York-based Hedge Fund Eminence Capital. He is joined on Oura’s board by Twitch Co-founder and former COO Kevin Lin, and M.D., Ph.D. Stephen H. Friend, Chairman of the Board and Past-President of Sage Bionetworks, a non-profit organization that provides the tools and environment to conduct dynamic, large-scale collaborative biomedical research. Approximately 60% of active Oura users and pre-orders for the new Oura ring originate from the US.

“Oura has built an extremely capable team that combines and harnesses technological, commercial and design expertise. There has been strong demand for the new ring. Meanwhile, both operative and governance changes within the company will boost Oura’s growth and development. Finland is home to a number of international brands famous for products and services based on biometric measuring. Oura has all the resources needed to join this elite band,” says Jussi Sainiemi, Investment Director at Tesi.

“We have succeeded in creating a new category within wearables. We combined science, technology and design with ultimate wearing comfort. Bringing sleep and recovery from daily mental and physical strain into the core of the user experience with the first generation Oura ring was the right choice. Our users are very committed and our retention rates are much higher compared to wearables in general. We need to continue innovating in all areas to maintain our pioneering position,” concludes Lahtela.

—–

Mr. Kevin Lin, the co-founder and former COO of Twitch, has been appointed chairman of the board. He brings along his vast experience in scaling teams, building communities, growing sales and developing monetization strategies based on his experience at Twitch. He also notably raised multiple rounds of funding and delivered significant shareholder value with Twitch’s exit to Amazon.

M.D., Ph.D. Stephen H. Friend is the Chairman of the Board and Past-President of Sage Bionetworks, a non-profit organization that provides the tools and environment to conduct dynamic, large-scale collaborative biomedical research. Dr. Friend was most recently at Apple Inc. where he worked on ways to impact people’s lives in health and disease. Currently he’s designing a virtual institute to explore fundamental issues around how to make individual symptom predictions and how to return agency to individuals so they might navigate their own paths between health and disease.

Harpreet Rai is based in San Francisco and has a long background in finance. He was previously at Eminence Capital for 9 years, a multi-billion dollar hedge fund in New York City, where he led investments in technology, media and telecom. Prior to Eminence, Harpreet was at Morgan Stanley in their M&A group. Harpreet Rai joined Ouraring Inc., Oura Health’s US subsidiary, as President in 2017 and succeeds Petteri Lahtela as the new CEO, effective June 1st, 2018.

For additional information

Media kit with pictures

John Cozzi
press@ouraring.com

Jussi Sainiemi, Investment Director, Tesi
+358 40 564 4660
jussi.sainiemi@tesi.fi

About Oura Health Ltd.
Oura Health Ltd. is a Finnish health technology company founded in 2013. Oura is the world’s first wellness ring and app that shows how your body responds to your lifestyle by analyzing your sleep, activity levels, daily rhythms and the physiological responses in your body. Personalized for you, Oura guides you towards better sleep, recovery and readiness to perform. Oura has users in over 60 countries, and several top universities, research organizations, sleep clinics, and companies are utilizing the data and insights Oura provides.

In addition to the CES 2016 Best of Innovation Award, Oura Health has received among others the Fitness Award of the American Women’s Health Magazine in May 2016. In 2017, Oura Health was selected as the Best Health/Lifestyle Startup in Finland at the Nordic Startup Awards. Oura Health Ltd.’s HQ and major manufacturing facilities are located in Oulu, Finland. Other locations include Helsinki and San Francisco. For more information, visit www.ouraring.com.

About BOLD Capital Partners
BOLD Capital Partners (“BOLD”), is a venture capital firm targeting investments in early stage and growth technology companies. BOLD is particularly interested in entrepreneurial leaders that leverage exponential technologies to transform the world and create innovative solutions to humanities’ grand challenges. The investment platform leverages the resources of Singularity University and the Peter Diamandis ecosystem to actively seek and support world-class entrepreneurs. BOLD has offices in Santa Monica and Palo Alto, California.

About Tesi
Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal-flow in Finland. Our investments under management total €1.2 billion and we have altogether 700 companies in portfolio. www.tesi.fi and @TesiFII

 

Categories: News

Tags:

EQT Real Estate sign lease agreements of 25,000 sqm in Cologne TechnologiePark

eqt

The EQT Real Estate I fund sign lease agreements with two existing tenants in Cologne. The lease represents around 25,000 sqm across three buildings. In the context of this lease, the concerned buildings are to undergo substantial modernization to bring them to a standard in line with today’s and future demands of occupiers.

Both tenants currently occupy space in the TechnologiePark of which they will re-lease 100% and expand into additional vacant space across the park. The EQT Real Estate team continue to work on improving the overall park to create a desirable and sought after office location within western Cologne.

Frank Forster, Director at EQT Partners and advisor to the fund, said: We’re thrilled that we could reach an agreement with one of our key tenants, whose name is closely connected with the city of Cologne to not only extend its presence in the park for the long term, but also to meaningfully enlarge it.

EQT Real Estate I have engaged Rhein Real Immobilien GmbH as their landlord representative and CTP Asset Management Services GmbH for the property management to help manage the office park.

Contacts
Frank Forster, Director at EQT Partners, Investment Advisor to EQT Real Estate I, +44 20 8432 5404

Robert Rackind, Partner and Head of EQT Real Estate at EQT Partners and Investment Advisor to EQT Real Estate I, +44 207 430 5555
EQT Press Office, +46 8 506 553 34

About EQT
EQT is a leading alternative investments firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtpartners.com

About EQT Real Estate I
EQT Real Estate I will seek to make direct and indirect controlling investments in real estate assets, portfolios and operating companies that offer significant potential for value creation through repositioning, redevelopment, refurbishment and active management. The investments will typically range between EUR 50 million and EUR 200 million. The fund is advised by an experienced team from EQT Partners, with extensive knowledge of property investment, development and intensive “hands-on” asset management, and with access to the full EQT network, including 10 European offices and more than 250 industrial advisors.

Categories: News

Tags: