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Prelude raises $8M to fix SMS and mobile onboarding

Seedcamp

Secure and cost-efficient identity verification is essential for business operations across consumer apps, fintech, and other industries. SMS and onboarding play an important role, yet incumbent solutions are prone to spam or added mark-up.

We are excited to partner up with Prelude, a Paris-based startup on a mission to help companies recover control over authentication costs and conversion rates.

Founders Matias Berny and Quentin Le Bras met while working for the consumer app Zenly, where they were in charge of implementing SMS verification. During their tenures, they were deeply entrenched in understanding the issues related to identity verification.

Using a set of unified APIs, Prelude is advancing SMS verification and mobile onboarding infrastructure through better fraud detection, elegant transparency, and increased conversion–all at a better price. The company’s  SOC 2 Type II compliant solution connects with 20+ international and local providers and automatically selects the best route to offer the best conversion to price ratio.

Matias Berny, founder and CEO of Prelude highlights:

“We’re determined to tackle SMS fraud at its core and use our experience to go beyond SMS verification. Onboarding conversion is one of the toughest challenges in driving growth, and that’s the problem we aim to solve for our customers. We’re building new services to help them master user onboarding, trust, and retention.”

In addition to SMS, Prelude supports other messaging services, such as WhatsApp and Viber. Prelude’s customers include consumer apps including BeReal and Locket, and fintech and crypto companies such as Alma, Sunday, and Bitstack. The company has verified the phone numbers for 100 million different user accounts.

Arnaud Lemaire, Sunday’s CTO says:

“Operating across Europe and North America with international customers, we needed a solution that could keep up with our global reach while maintaining competitive prices—our previous provider fell short. With Prelude, we’ve completely transformed our messaging strategy. Now, we send OTPs worldwide effortlessly, with full visibility into deliverability and conversion rates. Plus, their responsive support team is always ready to help, ensuring we stay on track. Prelude has truly helped us elevate our B2C engagement.”

On why we partnered with Prelude, our Venture Partner Devin Hunt comments:

“We are thrilled to support Matias and the entire Prelude team. They are leveraging years of experience building internal solutions to deliver the best verification service across any platform. What may appear to be a simple detail on the surface is, in reality, a highly complex product, both from an operational and security perspective. This not only improves the cost efficiency of message delivery but also enhances the overall security of the applications that rely on it.”

We are excited to be part of Prelude’s journey from Day One and co-lead their $8 million Seed round alongside Singular.

For more information, visit prelude.so.

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Ardian acquires 9.500sqm value-add office building in prime location in Berlin-Mitte

Ardian

Ardian, a world-leading private investment house, today announced it has signed an agreement to acquire an office building located close to the listed Lützowplatz square between Berlin City-West and Berlin-Mitte, the two most sought-after office submarkets in Berlin. It represents one of the largest office transactions in the value-add segment Berlin in 2024.

The building was comprehensively renovated in 2001 and offers currently c. 9.500sqm of lettable space over 9 stories of which c. 80% is rented. Ardian aims to invest a double digit million Euro sum to fully modernize and carefully densify the project. In course of the refurbishment, Ardian will upgrade the asset’s ESG footprint to meet modern standards, supporting the climate goals of the Paris Climate Agreement. Furthermore, Ardian will add various amenities to the project to increase the attractiveness of the building.

“We are pleased to announce the purchase of this office project as it is testament to a starting comeback of value-add office space transactions in Berlin, a market segment that has been rather quiet in the past three years. At this prime location in Berlin-Mitte, we are planning a comprehensive repositioning with a particular focus on quality and sustainability. We are convinced that these factors – quality, location and sustainability – will remain key drivers of the rental and investment market in the future, and we therefore continue to seize opportunities in office buildings as an asset class.” Nico Rheims, Managing Director Real Estate, Ardian

Ardian was advised in the transaction by Arup, BNP Real Estate, Clifford Chance, KVL and Taxess.

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $169bn of assets on behalf of more than 1,680 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.

ardian.com

Media contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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ECI invests in Insurance Insider to accelerate growth

ECI

ECI are delighted to announce our investment in Insurance Insider, a leading digital platform providing insight and analysis for the world’s top insurers, distributors, service providers and investors. Their service offering helps customers to uncover new business opportunities and protect against risks through its exclusive insights, deep analysis and data solutions.

ECI is partnering with Insurance Insider’s management team to leverage its unparalleled market position and deep expertise in the Property & Casualty (P&C) insurance industry to accelerate its growth strategy.

Insurance Insider was part of Delinian, which owns a portfolio of companies that provide data, insights, accreditation and events in select global markets. Delinian is focused on value creation and realisation across its portfolio through a three-part strategy of Invest, Grow and Divest. Delinian, formerly Euromoney Institutional Investor PLC, was acquired by Epiris in 2022.

A pioneer since 1996, the business has expanded significantly across and beyond the London (re)insurance market to become the leading market intelligence provider in the P&C and specialty (re)insurance markets.

Operating across three main products, it covers the global (re)insurance market that flows through London, the US P&C market and insurance-linked securities.

Insurance Insider has been at the forefront of the insurance industry for nearly 30 years, and we are now at an inflection point. We have found an ideal partner in ECI, who can help us realise our vision and ambition to become the go-to source of intelligence, insights and data to the global P&C industry. I am immensely excited for what is ahead of us and what we can achieve alongside ECI.” 

Mariana Valle

Managing Director, Insurance Insider

We are absolutely delighted to be partnering with Insurance Insider for the next stage of their growth. We have been thoroughly impressed by Mariana and her team, who have built a category market leader that is trusted by its clients to deliver depth of expertise and quality insights in the complex non-standard insurance industry. Insurance Insider’s customer retention demonstrates the value of those insights in a fast-moving sector, and there is a fantastic opportunity for the business to serve more customers and enhance its product offering, both in the UK and the US.”

Toby Fitzherbert

Investment Director, ECI

We are delighted that ECI Partners have recognised the exceptional growth of Insurance Insider, its position at the heart of the P&C insurance industry and its longer-term expansion opportunities. We look forward to watching the business fulfil its potential under new ownership.”

Andrew Pinder

Group CEO, Delinian

The deal is expected to complete before the end of 2024.

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MB2 Dental Announces Recapitalization Event With New Investor Warburg Pincus, Solidifying Company Growth Milestone

Warburg Pincus logo

CARROLLTON, Texas–(BUSINESS WIRE)–MB2 Dental (“MB2” or the “Company”), the first and largest dental partnership organization (DPO) nationwide, today announced a strategic investment from Warburg Pincus.

Transaction Highlights

  • $525 million investment from one of the world’s leading private equity firms
  • Offers liquidity options to the Company’s doctor partners at a total enterprise value in excess of $3.5 billion
  • Marks MB2 Dental’s third recapitalization in the past seven years, each providing liquidity to all shareholders and affirming the Company’s unique doctor-led partnership model
  • Charlesbank Capital Partners will continue its longstanding partnership with the Company and is excited to support MB2’s next growth phase

Growth

This transformative transaction is a testament to MB2 Dental’s sustained growth and differentiated performance. Since Charlesbank’s initial investment in 2021, MB2 has added over 450 new partnerships, and the Company’s revenue and EBITDA have each grown by more than 30% per year.

The recapitalization reflects Warburg Pincus’ conviction in MB2 Dental’s growth opportunities. The Company continues to revolutionize the dental industry by empowering dentists to retain clinical autonomy while benefiting from a large organization’s operational and financial support. Proceeds from the transaction will directly benefit over 700 doctor partners and accelerate investments in the value-added services that MB2’s doctor partners can leverage to grow their practices and realize substantial value creation.

Dr. Chris Steven Villanueva, Founder and CEO of MB2 Dental, stated, “This is a significant achievement for MB2 Dental and our doctor partners. The ongoing support from Charlesbank, along with another top-tier investor in Warburg Pincus, reinforces our success in establishing a partnership model that meets the needs of our dentists. This new investment will enable our doctors to maintain uncompromising exceptional care and drive our continued success. While this recapitalization is a major milestone, it is just the beginning. MB2 is well-positioned to keep setting new standards for how large dental platforms should perform.”

“Warburg Pincus’ Healthcare and Capital Solutions teams are excited to partner with MB2 on its innovative approach to the dental services industry. MB2’s commitment to empowering dentists and preserving the integrity of patient care, while enabling efficient practice management, makes them an exemplary partner. We look forward to collaborating with MB2’s management and doctor partners to support their continued success,” said Adam Krainson, Managing Director, Warburg Pincus, and José Arredondo, Principal, Warburg Pincus.

The new partnership with Warburg Pincus positions MB2 Dental to continue expanding its network of doctor partners. It provides greater opportunities for dentists to join an organization that fosters independence, collaboration, and growth.

“We have been thoroughly impressed by the substantial growth MB2 has driven since we first partnered with the company in 2021, and today’s announcement underscores the success Dr. Villanueva and his exceptional team have achieved in recent years. We look forward to partnering closely with Warburg Pincus to further enable the company to reach its growth potential, and ultimately support MB2’s network of talented doctor partners providing care to patients across the country,” added Brandon White, Managing Director, Charlesbank.

The Company is excited to further its partnership with existing investors Charlesbank and KKR, as well as with new strategic investor Warburg Pincus. Moelis & Company served as financial advisor to MB2 Dental, and Houlihan Lokey served as financial advisor to Warburg Pincus. Kirkland & Ellis served as legal advisor to the Company, and Wachtell, Lipton, Rosen & Katz served as legal advisor to Warburg Pincus.

About MB2 Dental

Dallas-based MB2 Dental is a first-of-its-kind dental partnership organization (DPO) founded and led by dentist and entrepreneur Dr. Chris Steven Villanueva. The Company empowers dentists to preserve their profession by ensuring clinical autonomy and providing resources and support to its doctor owners. Since its founding in 2007, MB2 has partnered with more than 700 general and specialty dental practices across 43 states. For more information, visit mb2dental.com or connect with the Company on Facebook, LinkedIn and Instagram.

About Warburg Pincus

Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Warburg Pincus funds have invested over $18 billion in more than 180 innovative healthcare companies around the world, including, Summit Health/CityMD, Modernizing Medicine, Ensemble Healthcare Partners, and Bausch + Lomb. The firm also has a successful track record of investing in capital solutions related transactions historically. The Warburg Pincus Capital Solutions Founders Fund, backed by over $4.0 billion in commitments, consists of investments including, DriveCentric, Excelitas, Nord Security, Service Compression, and MIAX.

Warburg Pincus has more than $86 billion in assets under management, and more than 230 companies in their active portfolio, diversified across stages, sectors, and geographies. The firm has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com or follow us on LinkedIn.

About Charlesbank

Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm with more than $22 billion of total assets. Charlesbank focuses on management-led buyouts, growth capital financings, opportunistic credit, and technology investments. The firm seeks to invest in companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.

Contacts

MB2 Dental
Lindsey Calamoneri
info@mb2dental.com

Charlesbank Capital Partners
Ryan FitzGibbon / Alexa Ottenstein / Peter Gavaris
Prosek Partners
pro-charlesbank@prosek.com

Warburg Pincus
Kerrie Cohen
Kerrie.cohen@warburgpincus.com

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KKR and Dragoneer Complete Acquisition of Instructure

KKR

Investment to support newly private company’s plans for product innovation and worldwide growth

SALT LAKE CITY, Nov. 13, 2024 /PRNewswire/ — Instructure Holdings, Inc. (“Instructure”), a leading learning ecosystem, today announced the close of its acquisition by investment funds managed by KKR, a leading global investment firm, and Dragoneer, a growth-oriented investor, for $23.60 per share in an all-cash transaction valued at an enterprise value of approximately $4.8 billion. With the completion of the transaction, Instructure’s common stock has ceased trading and the company is no longer listed on the New York Stock Exchange.

Instructure is a leading global provider of learning management, education-tech effectiveness and credentialing solutions. The Instructure ecosystem of products enhances the lives and outcomes of students, professional learners and educators. The company has impacted approximately 200 million learners across more than 100 countries and boasts a thriving community of over 1,000 partners. Together with its expansive network of educators, learners and partners, the company is committed to broadening its platform and delivering $1B in revenue by 2028.

“We could not be more excited to begin the next phase of our journey as the mission-critical educational operating system that schools, institutions and companies rely on to improve outcomes for lifelong learners,” said Steve Daly, CEO of Instructure. “Having KKR’s support will help us double down on core markets, scale our global reach at a faster pace and unlock new opportunities as we continue to innovate and enhance Canvas and the Instructure Learning Ecosystem. Together, we expect to build on our position as the education ecosystem that powers learning for a lifetime and turns education into opportunities for all learners globally.”

“Instructure has built a strong reputation as a true leader and partner in the learning community,” said Webster Chua, partner at KKR. “We look forward to working closely with Steve and the team to leverage KKR’s global platform to continue growing and scaling the Instructure ecosystem.”

“Instructure reminds us of those generational vertical software companies with all the key ingredients: strong customer love, mission criticality, and a commitment to product superiority,” said Christian Jensen, Partner at Dragoneer Investment Group. “Together with KKR, we are fully supportive of Instructure’s commitment to having a profound and transformative impact on the global education market.”

ADVISORS

J.P. Morgan Securities LLC acted as the lead financial advisor, Macquarie Capital also acted as a financial advisor to Instructure and Kirkland & Ellis LLP is serving as the legal advisor to Instructure.  Morgan Stanley & Co. LLC, Moelis & Company LLC and UBS Investment Bank acted as financial advisors and Simpson Thacher & Bartlett LLP acted as legal advisor to KKR.

ABOUT INSTRUCTURE

Instructure powers the delivery of education globally and provides learners with the rich credentials they need to create opportunities across their lifetimes. Today, the Instructure ecosystem of products enables educators and institutions to elevate student success, amplify the power of teaching, and inspire everyone to learn together. With our global network of learners, educators, partners and customers, we continue to deliver on our vision to be the platform that powers learning for a lifetime and turns that learning into opportunities. We encourage you to discover more at www.instructure.com.

ABOUT KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com.

ABOUT DRAGONEER

Dragoneer Investment Group is a growth-oriented investment firm with over $23 billion under management and a flexible mandate to invest in high-quality businesses in both the public and private markets. For over a decade, Dragoneer has partnered with management teams to grow exceptional companies, characterized by sustainable differentiation and superior economic models. Dragoneer looks to partner with the best businesses globally and has been an investor in companies such as Airbnb, AmWINS, Atlassian, Datadog, Dayforce, Doordash, Duck Creek, Livongo, Nubank, PointClickCare, Procore, ServiceTitan, Slack, Snowflake, Spotify, Square, Tekion, Uber, and others.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. All statements other than statements of historical fact, including statements about the potential benefits of the completed acquisition of Instructure Holdings, Inc. (the “Company”), are forward-looking statements. Forward-looking statements give the Company’s current expectations, estimates and projections about the potential benefits of the transaction, its business and industry, management’s beliefs and certain assumptions made by the Company regarding its financial condition, results of operations, plans, objectives, future performance and business, all of which are subject to change. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely” and other words and terms of similar meaning. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to the Company.

Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected and are subject to a number of known and unknown risks and uncertainties, including: (i) the Company’s ability to implement its business strategy following completion of the acquisition; (ii) ongoing litigation and potential further litigation relating to the acquisition, including the effects of any outcomes related thereto; (iii) risks that disruptions from the acquisition will harm the Company’s business, including current plans and operations; (iv) the effect of the announcement of the completion of the acquisition on the Company’s business relationships, operating results and business generally; (v) the Company’s ability to retain, hire and integrate skilled personnel including the Company’s senior management team and maintain relationships with key business partners and customers, and others with whom it does business, in light of the acquisition; (vi) risks related to diverting management’s attention from the Company’s ongoing business operations; (vii) unexpected costs, charges or expenses resulting from the acquisition; (viii) the impact of adverse general and industry-specific economic and market conditions; (ix) the impact of inflation, rising interest rates, and global conflicts; and (x) risks that the benefits of the acquisition are not realized when and as expected. The Company cautions you that the important factors referenced above may not contain all of the factors that are important to you. In addition, the Company cannot assure you that the Company will realize the results or developments expected or anticipated or, even if substantially realized, that they will result in the consequences or affect the Company or the Company’s operations in the way the Company expects. The forward-looking statements included in this press release are made only as of the date hereof. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

CONTACT:

Instructure:
JP Schuerman
Corporate Communications
(801) 658-7525
jp.schuerman@instructure.com

KKR:
Julia Kosygina or Lauren McCranie
(212) 750-8300

SOURCE Instructure Holdings, Inc.

 

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Analysys Mason to acquire Germany-based PE consulting firm Telescope Advisory Partners

Bridgepoint

The transaction enhances Analysys Mason’s global market reach, commercial due diligence competencies and AI capabilities

Telescope Advisory Partners, a Munich and Frankfurt-based transaction support, value creation and innovation strategy consulting boutique specialising in commercial due diligence and strategy support, will join forces with Analysys Mason, the global technology, media and telecoms consultancy.

The transaction is supported by Analysys Mason’s existing investment partner Bridgepoint, which partnered with the company in 2022 via Bridgepoint Development Capital, a lower middle-market fund focused on supporting fast-growing businesses across Europe.

Telescope and Analysys Mason are recognised leaders in the transaction support sector, helping clients to make the best investment decisions at every stage of the deal lifecycle and accelerating value creation across the investment journey. Telescope’s sector experience and focus is on software, IT services and sustainable cities, while Analysys Mason has unparalleled expertise in digital infrastructure such as communication towers and data centres, ICT (information and communication technology) and IoT (Internet of Things).

This combination leverages the strengths of both companies, creating a comprehensive service offering for small, medium and large-cap private equity buy-out and infrastructure investors. The combined entity is set for growth and innovation, particularly in the field of artificial intelligence (AI), where both firms already support clients in navigating AI opportunities, enhancing business valuation and margins, and integrating AI into the investment cycle.

“We are thrilled to join forces with Telescope,” said Bram Moerman, CEO of Analysys Mason. “This acquisition represents a significant step forward in our mission to deliver unparalleled value to our clients and enhances our transaction support delivery capabilities in the DACH region. Our combined expertise in AI and the private equity markets will enable us to offer even more innovative solutions.”

Simon Fischer, co-Managing Partner at Telescope added, “We are looking forward to forming a global transaction and value creation advisory team unique to the private equity and technology sector. The combined resources and skills as well as a common set of values and ways of working will enable us to continue a strong growth trajectory whilst keeping our entrepreneurial spirit.”

Ludwig Preller, co-Managing Partner at Telescope commented, “This deal positions us perfectly to seize new growth opportunities especially in the field of technology advisory. After a decade of successful expansion in Germany and Europe, we are excited to extend our expertise to new markets globally, providing a ‘global local’ precision service focused on global Tech- and IT-Services transactions and to approach new segments of clients together.”

Jeannele M’bembath, Director at Bridgepoint added, “We are very excited to support Analysys Mason’s continued growth as they welcome Telescope into the fold. This partnership represents a powerful blend of expertise – particularly with respect to AI, due diligence and value creation solutions – that will bring even greater value to current and future clients in Europe and beyond.”

The acquisition is expected to be completed by the end of November, subject to customary closing conditions.

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Erik Sterck eyes further growth with FIELDS partnership

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Fields Group

FIELDS Group is pleased to announce the acquisition of a majority interest in Erik Sterck GmbH (“Erik Sterck”). Erik Sterck is a leading expert in data center environments, cloud-native services and cybersecurity. The aim of the partnership is to build on the successful heritage of Erik Sterck and to expand the business operations in the DACH area. At the same time FIELDS Group will facilitate a strategic alliance with its existing portfolio company TTNL (a specialist in data management in hybrid multi-cloud environments and mission-critical IT Infrastructures), allowing Erik Sterck to resell TTNLs proprietary Hyperplatform and complementary Managed Services in the German-speaking market. For TTNL this marks a further step in its European expansion.

“After a decade of consistent growth, this next step represents an exciting new chap-ter for us. For us, there is no question that together with FIELDS Group and their network we can further expand our business, both geographically but also with regard to our service offering”, says Erik Sterck, Co-Founder & CEO of Erik Sterck.

Oliver Batz, Co-Founder and Managing Director of Erik Sterck, adds: “We are looking forward to this next step. We are convinced that we have found the right partner for the next phase of growth. Especially the alliance with TTNL will allow us to deliver comprehensive cloud solutions, that drive innovation and business transformations across industries.”

André Reitz, Investment Director at FIELDS Group, adds: “We are excited to announce our partnership with Erik Sterck. We are particularly looking forward to support Erik, Oliver and the rest of the Erik Sterck-Team on their journey of expanding the Cloud and Managed Services capabilities, aiming to further manifesting Erik Stercks positioning as trusted advisor for its clients. Also, we are looking forward to bringing the successful Erik Sterck model into new markets within German-speaking Europe.”

 

About Erik Sterck

The owner-managed Erik Sterck GmbH, headquartered in Leonberg, Baden-Württemberg, advises companies in the entire data center environment as well as on cloud-native services and cybersecurity. Another focus is on the automation of operations services. From consulting workshops to implementation, Erik Sterck GmbH is available as a contact partner and implements projects in both virtual server environments and container-virtualized environments.

In total, the company supports almost 200 customers from all sectors, primarily in the German SME sector. Erik Sterck GmbH has received numerous awards for its work, most recently Nutanix “Best Technical Partner” (2020), Rubrik Global Award “Cyber Recovery Partner of the Year” (2023) and Arctic Wolf Networks “DACH Partner of the Year” (2024). In addition to its headquarters in Leonberg, the system house is represented throughout Germany with branches in Cologne, Munich and Hamburg.

www.eriksterck.de

 

About FIELDS Group

FIELDS Group is an entrepreneurial hands-on investor focused on developing companies with potential. FIELDS Group invests in companies with headquarters in Benelux and the DACH region and realizes true transformations with its team.

www.fields.nl

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Ardian partners with Vecos to further support international growth strategy

Ardian

Ardian, a world-leading private investment house, today announced it has signed an agreement to acquire a majority stake in Vecos, a leading global provider of tech-enabled smart locker solutions with a focus on corporate offices, Education and Healthcare facilities. Ardian has acquired the stake from Bencis, which supported the Company’s growth since its investment in 2019. The management team around CEO Bram Kuipers will continue to lead the company and will invest alongside Ardian as part of the transaction.

Vecos started as an electrical engineering development company and has transformed into an end-to-end smart locker solution provider, which was initiated and led by current CEO Bram Kuipers. Vecos’ proprietary self-service, smart locker system is purposefully designed to support people to work more flexibly, in dynamic and hybrid working environments. The solution combines locker hardware (physical locks and terminals) with a proprietary SaaS platform and is accessible through multiple access methods, including access badges and a cloud-based App for employees. Facility managers benefit from remote, automated locker management and are provided with real-time data on locker usage via the online portal, which drive cost efficiencies versus more traditional locker solutions such as mechanical or electronical locks. Vecos’ solution can be seamlessly integrated into its customers’ IT workplace ecosystem allowing a harmonized setup across locations. The company has developed strong blue-chip customer relationships globally with a strong presence in Europe as well as APAC and the US.

The ongoing shift towards hybrid work models across organizations is driving the demand for flexible office solutions with Vecos ideally positioned to capitalize on this trend. The acquisition by Ardian is substantiated by several underlying market dynamics. First, the growing emphasis on flexibility and adaptability in the workplace has made Vecos’ offerings more relevant than ever. Companies are seeking solutions that allow them to adjust their office spaces to meet the evolving needs of their employees. Additionally, Vecos addresses the focus and commitment of organizations towards sustainability in order to meet their environmental goals (e.g. in term of carbon footprint reduction), which perfectly aligns with Ardian’s investment philosophy. Ardian is looking forward to support Vecos’ management team on its envisaged growth trajectory in the coming years.

“This acquisition represents a significant opportunity for both Ardian and Vecos. Our partnership with the management team of Vecos will focus on accelerating international growth within Europe, particularly in France and Germany, as well as in the US. Besides, we see a lot of potential by leveraging AI and digital capabilities to further enhance operational efficiencies.” Florian Haas, Director Expansion, Ardian

“The partnership with Vecos marks the second investment of Ardian Expansion in the Netherlands demonstrating our high commitment to the region. We are delighted having the opportunity to support Vecos’ management team in their next phase of growth.” Dirk Wittneben, Managing Director Expansion, Ardian

“Choosing Ardian as our partner was a strategic decision rooted in shared values and vision. Their expertise in scaling businesses and commitment to sustainable growth will enable us to enhance our offerings and expand our reach in key markets. We are excited about the opportunities that lie ahead as we work together to redefine the future of workspaces.” Bram Kuipers, CEO, Vecos

“We have enjoyed working alongside Bram and his team to make Vecos a global player in smart locker solutions. We are convinced that the management team together with their new partner Ardian will continue on this growth path and will track their journey with continued interest.” Katrien Bosquet, Managing Director, Bencis

List of participants

  • Participants

    • Ardian: Dirk Wittneben, Florian Haas, Max Dolata, Steffen Prochazka, Janine Paustian, Mathieu Lebrun
    • Bencis: Katrien Bosquet, Bo Kroezen
    • M&A: Jefferies (Serge Fielmich, Lars van Leeuwenstijn, Ritika Langer)
    • Legal: Clifford Chance (Jeroen Thijssen, Simon Reitz)
    • Commercial: EY Parthenon (Georg Hochleitner, Dr. Burak Yahsi)
    • Financial: Deloitte (Egon Sachsalber, Nils Nobereit)
    • Tax / Structuring: EY (Anne Mieke Holland)
    • Tech: Artefact (Arnold Struik, Jur Gaarlandt)

 

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $169bn of assets on behalf of more than 1,680 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.

ardian.com

 

ABOUT VECOS

Vecos’ roots trace back to 1996 while the introduction of the first smart locker solution was initiated by the current CEO Bram Kuipers in 2010. The Company is headquartered in Eindhoven, the Netherlands. Vecos’ proprietary self-service, smart locker system is purposefully designed to support people to work more flexibly, in dynamic and hybrid working environments. Vecos offers an end-to-end smart locker solution that includes locker hardware (physical locks and terminals) and proprietary software. The SaaS-based Vecos Smart Locker system is fully customizable to tailor to each client’s needs and provides powerful management insight, enabling cost efficiencies versus more traditional locker solutions such as mechanical or electronical locks. Due to its strong market reputation, clear customer value proposition and a structured go-to-market focused on the office vertical, Vecos has developed strong blue-chip customer relationships over the past years. Today, the Company operates in over 45 countries and is seen as the leading provider in this space.

vecos.com

Media contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

 

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Apiary portfolio company MediaSense expands global footprint with acquisition of R3

Apiary Capital

Independent global media advisor MediaSense, has acquired R3, the creative and media advisory specialist, significantly expanding its global footprint.

MediaSense acquires R3

This is MediaSense’s second growth deal in six months, following its acquisition of PwC’s Marketing & Media advisory team, announced in May 2024, and expands its service to clients into marketing operations, including content and creative.
The deal further delivers on MediaSense’s growth strategy, developed and implemented since Apiary Capital acquired a sizable stake in MediaSense in 2021.

MediaSense will now advise clients across an expanded suite of marketing operations-related services, supporting them to improve performance in an increasingly connected ecosystem where optimal marketing effectiveness necessitates more integrated management and governance of creative, content, media, data and technology.

While the PwC acquisition added scale and financial compliance services to MediaSense, the R3 acquisition adds marketing operations advisory capabilities and expansion into North America and Asia. MediaSense’s employee numbers will increase by 30% to over 230, with R3’s co-founders, Greg Paull and Shufen Goh joining the executive leadership team.

Graham Brown, CEO at MediaSense, stated: “Our growth ambitions are informed by listening to our clients’ current and future needs, and increasingly they require joined-up advice across disciplines and territories. With the acquisition of R3, we are expanding beyond media operations into marketing operations, adding content and creative capabilities and significantly growing our presence in North America and Asia.”

“This acquisition represents an exciting milestone for the MediaSense team”, said Dan Adler, Partner at Apiary Capital. “By acquiring R3, MediaSense is not just creating a larger media advisory business, but one which is positioned to provide invaluable insights across media, creative and tech domains, based on a foundation of cross-discipline intelligence.”

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Our Investment in CHAOS Industries: Bringing Groundbreaking New Technologies to National Defense

Accel

Our Investment in CHAOS Industries: Bringing Groundbreaking New Technologies to National Defense

We’re thrilled to announce Accel’s $145 million investment in CHAOS Industries, a company developing next-generation defense technologies that will shape national security and critical industries in the 21st century.

Over the past two decades, the same technological advancements reshaping our economy have begun to fundamentally change the nature of geopolitical conflict. Today’s battlefield is increasingly augmented, and tech is powering even more sophisticated threats for the U.S. and its allies.

This means that our future success in security, defense, and military operations will be more closely linked to technological sophistication than ever before—and it’s imperative that our capabilities rise to meet the moment. The traditional defense industry urgently needs to adapt to this new paradigm, but it has been slow to adopt truly transformative innovation. It will take a new generation of defense technology companies to help the industry get to where it needs to be.

Enter CHAOS Industries, founded in 2022 by John Tenet, Dr. Bo Marr, Gavin Hood, and Brett Cummings. The company builds groundbreaking new technologies that solve real-world problems by combining an engineering-led approach to product development with deep partnerships with the defense industry.

We’ve been impressed by the first product category CHAOS Industries brought to market, Coherent Distributed Networks, a paradigm-shifting technology category that enables unprecedented performance for sensors and effectors. Success in this wave of defense tech will come from teams like CHAOS Industries that pair expertise in artificial intelligence, and quantum computing with a deep understanding of defense programs and the unique go-to-market needs of this category.

The defense industry is still in the early stages of digitization, which makes it an exciting time to work with CHAOS Industries, which is developing innovations with real potential for scale. We’re delighted to partner with John, Bo, Gavin, Brett, and the entire CHAOS Industries team to bring those new AI, robotics, and machine learning technologies to the defense industry.

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