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GBL pursues its portfolio diversification with the acquisition of 15.0% of Parques Reunidos in Spain

Groupe Bruxelles Lambert («GBL») announces that it has reached an agreement with Arle Capital Partners
(«Arle») to acquire, through a wholly-owned subsidiary, a 15.0% interest in the capital of Parques
Reunidos Servicios Centrales, S.A.
(«Parques»), representing an investment of EUR 208 million for GBL.
Parques is a leading global operator of leisure parks across Europe, North America and Asia.
Listed on the Madrid stock exchange, Parques generated EUR 584 million of revenues in 2016.
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Welcoming this investment, GBL’s co-CEOs Ian Gallienne and Gérard Lamarche stated: “We are pleased to become a significant shareholder of Parques. The company’s long-term growth potential fits well with our Incubator strategy and its geographical exposure will complement our existing portfolio as Parques is GBL’s first Incubator investment in Spain.”
The transaction isexpected to settle around April 20th and is not subject to any regulatory or other third
party approvals. The acquisition will be financed using part of GBL’s existing cash.
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GBL is a holding company which has been listed since 1956 and whose shares a
re admitted to trading on the regulated market of Euronext Brussels. GBL’s primary objective is to create value for its shareholders. GBL aims at building a portfolio of investments focusing on a small number of industrial and services companies that are leaders in their markets, in which it can play its role as a long-term professional shareholder.
The portfolio is intended to evolve over time as companies mature and market opportunities arise.
GBL invests and divests according to its objectives of value creation while maintaining a solid financial structure.

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New Access Banking Software acquires the Ambit Private Banking business

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New Access Banking Software, a global provider of critical front-office software solutions to the private banking industry, announced today the acquisition of the Ambit Private Banking business from FIS™. The Ambit Private Banking business, provides a comprehensive suite of software solutions, including Apsys and CIM, designed to help Swiss and international private banks to build a strong competitive advantage. The solution suite includes core banking, client management, analysis and control, market management, fund accounting and alternative investments solutions.

This transaction will create significant commercial synergies between New Access and Ambit Private Banking solutions. It will also allow the group to further invest in R&D to develop software solutions adapted to the private banking market shaped by disruptive technologies, and tightening regulatory requirements. “New Access’ solutions are aimed at turning these challenges into opportunities, and getting tangible benefits for their customers”, said Vitus Rotzer, General Manager of the Ambit Private Banking business, who becomes Managing Director responsible for business development of the combined group. “We are confident the addition of the Ambit Private Banking solution will benefit customers of both businesses through an enriched product and services offering, while bringing a comprehensive, integrated solution to the private banking market.”

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Exxelia refinances its debt structure

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Exxelia refinances its debt structure

Exxelia, the world leading manufacturer of high-performance complex passive components and subsystems focusing on highly demanding end-markets such as civil aeronautics, space and defence, has refinanced and simplified its debt structure.

The former structure, which comprised both senior debt as well as a mezzanine debt financing, was enforced in March 2014 before the acquisition by IK Investment Partners, has been replaced at the same leverage by the issuance of a new senior tranche of 160 million euros. The debt has been arranged by a club of European blue chip banks and financial institutions: CM-CIC, HSBC and Société Générale acted as Global Coordinators, while Bank of Ireland, BNP Paribas, Crédit du Nord, Idinvest, ING, KBC, LCL, SCOR and Siemens Bank also participated in the new financing.

Led by a new management team, Exxelia demonstrated a solid financial performance, on the back of growing underlying markets. The French group will benefit from an attractive financing structure with improved terms and a simplified documentation.

Exxelia has completed three add-on acquisitions since 2015, whereof two in the US, and its new flexible financial structure, which is compatible with its build-up strategy, will allow the group to move forward on its growth trajectory.

Exxelia was advised by Canaccord Genuity, 8Advisory, Advention and White & Case throughout the debt refinancing process.

For any questions, please contact:

Exxelia
Natacha Vidovic
Executive assistant to the CEO
Phone : +33 1 49 23 10 64

IK Investment Partners
Mikaela Hedborg
Director Communications & ESG Phone : +44 77 87 573 566

About Exxelia
For over 50 years, Exxelia has been focusing its business on the design and manufacture of innovative electronic and electromechanical solutions, with sales of 145 million euros in 2016 and production sites based in France, Morocco, USA and Vietnam. The group offers a large range of high-performance passive components (capacitors, filters, precision mechanics, and wound magnetic components), engineered to withstand the harshest environments in the space, aeronautics, defence, transportation, medical, energy, and telecommunications sectors. Exxelia also offers innovative precision subsystems such as position sensor, slip rings and precision mechanics to the same market segments. The durability and reliability of Exxelia’s products have established the company as an international leader. To learn more, visit www.exxelia.com

About IK Investment Partners
IK Investment Partner is a pan-European private equity firm investing across Northern Europe, the DACH region (Germany, Austria, and Switzerland), France and Benelux. Since 1989, IK has raised over 9 billion euros in capital and invested in over 100 companies in Europe. IK invests alongside management teams in mid-size companies benefitting from strong growth potential and operating in four core sectors: services, care, industrial goods and consumer goods. To learn more, visit www.ikinvest.com

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Broodstock Capital becomes majority owner in Billund Aquaculture A/S

Seafood investor Broodstock Capital invests in international recirculation system player Billund
Aquakulturservice A/S (“Billund Aquaculture”) to become majority shareholder with 51 percent
ownership share. Billund Aquaculture Chile S.A (“Billund Chile”) will be part of the new group.
The purchase price is undisclosed. Billund Aquaculture has 30 years’ experience in design, installations,
operations and service of intensive land based “Recirculation Aquaculture Systems” , also known as “RAS”. The company has so far delivered more than 120 recirculated systems in 26 countries worldwide, providing
intensive production facilities for more than 25 different cold and warm ,
fresh and saltwater fish species.
“Billund Aquaculture has built up an impressive position in the growing RAS market. The company has
a highly diversified order backlog and client list for its recirculation systems. We want to build on
the company’s impressive heritage through a partnership approach with the current owners, as we believe
this will be most beneficial for the company’s clients,” says Simen Bjørnstad, partner in Broodstock
Capital, which is a pure play seafood investor focusing on small and medium sized companies.
The current majority shareholder of Billund Aquaculture, Stensgaard Holding A/S, will retain a 49
percent ownership share in the company.
Christian Sørensen will continue in his current role as executive chairman.
Managing director Bjarne Hald Olsen will also remain in his role in Billund Aquaculture as well as Managing director Marcelo Varela will remain in his role in Billund Chile.
Members from Broodstock Capital will strengthen the company’s board of directors.
“Our investment in the company is in line with our strategy to grow businesses by co-operating with current owners and management teams in the ongoing industrialization of the sector. We have a clear objective of growing the business, which in turn will create more jobs,” says Kjetil Haga, partner in Broodstock Capital.
Billund Aquaculture is headquartered in Billund in Denmark.
Billund Chile is located in Puerto Montt, Chile. The group currently employs approximately120 people and has combined revenues of more than DKK 180 million.Executive chairman Christian Sørensen says that Broodstock Capital’s approach feels like an ideal match for him and his colleagues.
Our clients request larger and more sophisticated RAS systems which requires increased financial solidity and flexibility. Broodstock will provide us with capital required to give our clients exactly what they need.
They are financial investors with a long term industrial perspective and sector specific expertise which will be of huge benefit to our business. I look forward to the next chapter in our company’s history,” says Christian Sørensen, executive chairman of Billund Aquaculture.

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3i invests €200m in Hans Anders to support further growth

3I

3i Group plc (“3i”) today announces that it has agreed to invest €200m in Hans Anders, a leading optical retailer in the Benelux. The business is being purchased from Alpha Private Equity and Alpinvest.

Founded in 1982 and headquartered in Gorinchem, the Netherlands, Hans Anders is a market leading, value-for-money optical retailer in the Benelux with a presence in Sweden and France. The company offers a range of private label and branded spectacles, as well as hearing aids, contact lenses and sunglasses, at average price points significantly below its major competitors. The company is the most well-known optical retailer in its core markets with a high level of brand awareness and customer loyalty.

Hans Anders represents an attractive opportunity in the sweet spot of 3i’s consumer strategy and will benefit from long-term, macro growth dynamics including an aging population and an increasing focus by consumers on the value-for-money segment. 3i has extensive experience of investing in the value-for-money segment through its existing investments in Action, the leading international non-food discount retailer, and Basic-Fit, the largest value-for-money fitness club operator in Europe.

Hans Anders operates 253 stores in the Netherlands, 105 in Belgium, 62 in France and 36 in Sweden and achieved sales of €192m in the last fiscal year ending January 2017. It has achieved average annual revenue growth of 10% since 2013.

Robert Van Goethem, Partner & Head of Consumer at 3i, commented:
“Hans Anders is a successful company, led by a first class management team, with exciting growth potential. The European optical retail market remains heavily fragmented and we believe there are significant opportunities for Hans Anders as a leading player in the value-for-money segment. We look forward to supporting the management team to drive further growth and expand the company’s footprint.”

Remco Boerefijn, who will become CEO of Hans Anders following the transaction, said:
“We are delighted to be partnering with 3i. As well as its deep experience and strong track record of supporting retailers in the Benelux and Europe at large, it has an exceptional international network which will greatly benefit Hans Anders. 3i also has experience in the optical market which will be very valuable to our partnership.”

The transaction is subject to customary regulatory approvals.

-Ends-

For further information, contact:

3i Group plc
Silvia Santoro
Investor enquiries
Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

Kathryn van der Kroft
Media enquiries
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Notes to editors:

About 3i Group
3i is a leading international investment manager focused on mid-market private equity and infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com.

About Hans Anders
Founded in 1982, Hans Anders is an international retailer of spectacles, hearing and contact lenses. Hans Anders, the core brand in the group, is the market leader in the Netherlands and has over 400 stores in the Netherlands, Belgium and France.  In Sweden the group operates under the Direkt Optik brand. Hans Anders employs over 1,500 people. For further information, please visit: https://www.hansanders.com.

Regulatory information
This transaction involved a recommendation of 3i Investments plc, advised by 3i Benelux.

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Meniga raises €7.5M round led by Industrifonden

We are excited to announce that we are leading a €7.5 million equity round in Meniga, a pioneer in digital banking technology globally, reaching more than 40 million users across close to 20 countries. The round enables further expansion into data-driven personal finance, transaction data analytics and card-linked offers for leading banks, in the trillion-dollar financial service sector. 

 The €7.5M equity round is led by Industrifonden with participation from current investors including Velocity Capital and Frumtak Ventures. The investment enables continued development of Meniga’s cutting-edge digital banking platform and strengthens the sales team.

– Meniga has a proven track-record and is in a unique position for further growth as an innovative digital partner to banks and advertisers, transforming the way they use transaction data. We are particularly excited about the opportunities in data-driven digital banking and proud to support the exceptional Meniga team, says Sofia Ericsson Holm, investor at Industrifonden, responsible for the Meniga investment.

Meniga’s digital banking platform helps banks use personal finance data to enrich their online and mobile customer experiences. Founded in 2009, Meniga has pioneered the market for white-label digital banking solutions to become the preferred digital partner to world-leading banks, including Santander, Commerzbank and ING Direct. Meniga’s team is headquartered in London, with offices in Reykjavik as well as Stockholm, where its development team is located.

– We have never seen higher demand for our solutions and innovation capabilities. The funding allows us to accelerate growth and partner with more banks to help them transform the way customers engage with them via digital channels. Industrifonden is a great fit for Meniga and their team brings decades of experience to help us on our journey, says Georg Ludviksson, CEO Meniga.

– Meniga is already working with many of the world’s leading banks and has built a strong reputation as an innovation leader in digital banking at a time when banks are forced to re-think their customer strategy and business models, continues Sofia, who will join Meniga’s board of directors effective immediately.

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Ferd takes stake in online grocery retailer MatHem

Ferd has taken its first ever step in the grocery industry, with Ferd Capital having recently invested SEK 100 million in the Swedish online grocery retailer MatHem.

MatHem is the largest online grocery retailer in Sweden, and reported revenue of nearly SEK 1 billion in 2016.

“We expect to grow by between 30% and 40% this year. The plan is for us to be profitable by the end of the year”, commented Tomas Kull, CEO of MatHem, in an article published in Finansavisen earlier this year. Tomas Kull started the company with his wife.

Scandinavian owners
Ferd invested in MatHem in close collaboration with its largest shareholder, the private equity company Verdane Capital, which owns 36% of the company.

Ferd Capital has invested around SEK 100 million in MatHem, giving it a 6% stake. Denmark’s Anders Holch Povlsen, who owns the international fashion company Bestseller, and Karl-Johan Persson, the majority shareholder in H&M, also invested in MatHem at the same time. The former now owns 21% of the company and the latter 10%, with the company’s founders keeping around 12%.

Founder Tomas Kull is very pleased that Ferd has come on board, particularly because Ferd is a capital-rich owner with a long-term investment horizon that also cares about social responsibility.

“Ferd’s funds will enable us to continue to grow while maintaining quality and launching new projects”, commented Tomas Kull to ICA Nyheter, a specialist Swedish grocery publication.

Big potential
From Ferd Capital’s perspective, MatHem represents an exciting investment in a new industry.

“We are impressed with what MatHem has achieved. The company is growing very strongly while delivering a high-quality service to consumers. Investing in MatHem also represents an opportunity to gain exposure to the grocery market, and specifically to a distribution channel that is growing strongly”, comments Håkon Glimstad Kristiansen, Senior Investment Manager at Ferd Capital.

Håkon Glimstad Kristiansen and his colleague Kristian Eikre, Head of Special Investments at Ferd, worked on the investment case for MatHem together. Kristian Eikre is in no doubt that online grocery retailing represents a big and growing market.

“We don’t think physical shops will disappear, but this is without doubt an enormous market”, comments Kristian.

In connection with the investment, Ferd analysed the online grocery retailing markets in Scandinavia. The conclusion was that Sweden has made much more progress than Norway.

The entire article is available (in Norwegian) here.

Tomas Kull started MatHem together with his wife, Karolin. Photo: MatHem

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HgCapital announces an investment in Mitratech

HGCapital

HgCapital has announced today an investment in Mitratech, a leading global provider of legal, risk and compliance software serving multinationals and SMEs across Europe and the US. HgCapital will be the lead investor in the new transaction structure, alongside TA Associates and the management team at Mitratech. The terms of this transaction were not disclosed.

Founded in 1987, Mitratech offers mission critical enterprise legal management (“ELM”) and enterprise risk management (“ERM”) software; its flagship product offering is a sector leading and award-winning legal matter management and spend management platform for large corporate legal departments, enabling customers to manage their internal workflows, documents (“system of record”), deadlines and communications, as well as providing an e-billing solution to collaborate with external legal advisors on budgeting and invoicing. Today the company provides legal, compliance, and operational risk solutions to 1,200 corporations across the globe with more than 500,000 users in over 160 countries. Its operations are supported by offices in the US, UK, and Australia.

This investment by the HgCapital TMT team follows many years of experience in the regulatory-driven business software space. Mitratech demonstrates many of the business model characteristics that HgCapital looks for, including: a business-critical product; a high proportion of repeatable revenues; strong customer loyalty; an opportunity for M&A; and a strong management team with a proven track record in both organic and M&A-led growth.

“We are delighted to be working with Jason Parkman and his talented management team, alongside TA Associates,” said Jean-Baptiste Brian, a Director in the HgCapital TMT team. “HgCapital has a strong track record of successful investments in regulatory compliance-driven software companies. We are impressed with the excellent progress Mitratech has made in establishing itself as a global player in this sector, and we look forward to supporting their continued growth going forward.”

“TA Associates has been a strong partner for us over the past 18 months, and an important part of our unprecedented recent growth. We look forward to continuing this relationship for years to come,” said Jason Parkman, Mitratech CEO. “Our new partnership with HgCapital brings us additional strength to fuel our growth in legal and risk management generally, as well as the focus to accelerate our current momentum of international expansion. The combination of these two strategic investors provides more access to global resources and enables us to invest even more to deliver innovation and value for our clients.”

“Since forming our strategic partnership with Mitratech in September 2015, it has been a pleasure to partner with Jason Parkman and his team,” said Hythem El-Nazer, a Managing Director at TA Associates. “The business has more than doubled during our partnership and, more importantly, Mitratech has solidified itself as a leader in the Enterprise Legal and Risk Management software market. We look forward to continuing to support Mitratech and partnering with HgCapital as the business continues to expand globally.”

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Cerelia acquires English Bay Batter

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Cerelia acquires English Bay Batter

French food company Cerelia, leading producer of ready-to-bake dough and ready-to- heat pancakes in Europe, supported by the IK VII Fund since 2015, is accelerating its development through the acquisition of English Bay Batter, the North American cookie specialist.

The merger will create an international group able to meet the needs of its historical clients by offering an enlarged range of products through three different distribution channels: Retail, In-store Bakery and Food-service.

Founded in 1983 by Jack Seguin in Vancouver, English Bay Batter (EBB) has developed a unique know-how producing cookies, muffins, brownies and other pastries. The company’s products are widely distributed in the US and Canada through Retail and Food-service channels. Building on its raw and cooked frozen products expertise, EBB recently and successfully launched a range of refrigerated dough products.

The acquisition is consistent with Cerelia’s growth strategy, based on the pooling of skills and market expertise. As part of the Cerelia group, EBB will further its development in the US and Canada thanks to substantial investment plans aimed at supporting innovation and industrial transformation. Conversely, EBB’s expertise in its market will enable Cerelia to broaden its product offering in Europe and Asia.

Cerelia’s CEO Guillaume Réveilhac is enthusiastic about this acquisition: “English Bay Batter is a leading player in North America, which is a strategic market for Cerelia. Our two companies’ DNAs are comparable in all respects. We are happy to welcome the EBB team, knowing that our group is initiating a new phase of development.”

“After two build-up acquisitions in Europe completed by Cerelia in the past 18 months – Bioderij in the Netherlands in 2015 and BakeAway in the UK n 2016, the acquisition of EBB is a key milestone in its plan for growth to accelerate its development in North America, adding local manufacturing capabilities, existing customer relationships and a deep market understanding to Cerelia’s innovation capabilities. Combined sales of the group to reach over 400 million euros” said Rémi Buttiaux, Partner at IK Investment Partners.

This acquisition is fully funded through a senior debt issuance as part of a full refinancing of its current debt package. Due to the solid track record of Cerelia and a favourable debt market, the company significantly improves its financing terms and documentation.

Cerelia was advised by Lincoln International, Stikeman Elliott / Willkie Farr & Gallagher and Bain Consulting throughout the acquisition process. Lazard and Willkie Farr & Gallagher advised Cerelia throughout the debt refinancing process. Bank of Ireland, BNP Paribas, Crédit Mutuel CIC, Crédit Agricole CIB, ING, Natixis and Société Générale arrange the new senior debt financing.

The financial terms of the transaction are not disclosed.

For any questions, please contact:

Cerelia
Marianne Szychowski
Executive assistant to the CEO
Phone: +33 (0)3 21 72 75 75

IK Investment Partners
Mikaela Hedborg
Director Communications & ESG
Phone: +44 77 87 573 566

About Cerelia
Cerelia is the European leader in the production of ready-made doughs and pancakes, with sales of over 300 million euros in 2017. Cerelia offers a large range of products: rolled dough, pizza dough, pastries, crepes and pancakes. Cerelia has launched an organic line, and also offers gluten-free and lactose-free products. Cerelia’s products are commercialized under its clients’ brands, both retailers and industrial companies, as well as under its own brands: Croustipate, Jan, Pop Bakery and Creapan in particular. To learn more, visit www.cerelia.com and www.bioderij.nl

About English Bay Batter
Founded in 1983, English Bay Batter is a producer of ready to bake dough and other cooked products in the US and Canada. Product offering mainly consists in cookies, croissants, muffins, brownies, biscuits and pie crusts. Like Cerelia’s, EBB’s products find their origin in traditional as well as in specific production (gluten-free, GMO-free etc.). Based in Vancouver (British Columbia), the company employs 430 people across four industrial sites in Vancouver, Toronto and Columbus (Ohio/USA). EBB has developed long-term commercial relationships with clients across four main distribution channels: Retail (through private label), In-store bakeries, QSRs and Food-service. To learn more, visit www.englishbaycookies.com

About IK Investment Partners
IK Investment Partner is a pan-European private equity firm investing across Northern Europe, the DACH region (Germany, Austria, and Switzerland), France and Benelux. Since 1989, IK has raised over 9 billion euros in capital and invested in over 100 companies in Europe. IK invests alongside management teams in mid-size companies benefitting from strong growth potential and operating in four core sectors: services, care, industrial goods and consumer goods. To learn more, visit www.ikinvest.com

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Plantasjen is acquiring SABA Blommor AB

Ratos

Ratos’s subsidiary Plantasjen is acquiring SABA Blommor AB, one of the leading service providers of in-store solutions for flowers in Sweden. With over 700 points of sales across the country, mostly in the grocery segment, the acquisition propels Plantasjen’s journey from garden center into a leading brand for plants.

Plantasjen is strengthening its position through the acquisition of SABA Blommor AB from SABA Logistics, a Dole Food Company. The company has approximately 160 employees, and an annual turnover of approximately SEK 330m. With the acquisition Plantasjen’s offer leaps from 40 garden centers to over 700 points of sales.

“Through combining SABA’s more than 700 points of sales and competence as a leading supplier of flowers to the grocery segment, with Plantasjen’s industry leading supply-chain and know-how of plants, we will increase the availability for our customers. The acquisition is an important part of our strategy to create a unique offering with an outstanding supply-chain and increased market presence for more people to enjoy life with plants,” says Plantasjen’s CEO Jon Abrahamsson Ring.

In addition, SABA is not present in Norway and Finland where grocery sales of plants are less developed but fast growing which provides additional opportunities for Plantasjen’s growth going forward.

The acquisition is subject to approval by the relevant authorities and is expected to be completed in the second quarter of 2017

– See more at: http://ratos.se/en/Press/Press-releases/2017/Ratos-AB-Plantasjen-is-acquiring-SABA-Blommor-AB/#sthash.OGSlbFhd.dpuf

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