Category Archives: News

EQT Value-Add Infrastructure to acquire Lazer Logistics, a leading North American provider of outsourced yard management and spotting services

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  • Transaction builds on EQT’s thematic investment strategy in the Transportation and Logistics sector, which supports the safe, efficient, and low-carbon movement of goods through the supply chain
  • EQT will leverage its significant experience in fleet electrification and digitalization to support management in executing the Company’s growth initiatives while remaining focused on providing exceptional service and differentiated value to customers

 

EQT is pleased to announce that the EQT Infrastructure VI fund (“EQT Value-Add Infrastructure”) has agreed to acquire Lazer Logistics (the “Company”) from funds managed by Harvest Partners. Financial terms of the transaction were not disclosed.

Founded in 1996 and headquartered in Atlanta, GA, Lazer Logistics is North America’s largest provider of outsourced yard management and trailer spotting services. With 5,000 employees and 6,000 fleet assets – including the largest North American fleet of electric spotters – the Company runs 9 million annual service hours for a diverse set of blue-chip customers across 39 states and territories.

Outsourced yard management is a mission-critical service, which facilitates the safe, efficient, and low-carbon movement of goods through the supply chain. The sector is highly resilient and growing due to various thematic tailwinds affecting the logistics value chain. The importance of the service and the value to customers is increasing as precision logistics continues to become a source of differentiation for companies, domestic manufacturing and eCommerce penetration grow, and supply chain decarbonization proliferates.

As a leading North American provider of these services, Lazer Logistics is well-positioned to continue to support customers as they grow and evolve, while remaining focused on the Company’s core values that include a commitment to service quality, safety, and a strong entrepreneurial culture, which make Lazer Logistics the employer of choice across the industry.

EQT will work with management to future proof the company and position it for long-term success by leveraging its strong track record of investing in North American Transportation and Logistics assets and its extensive expertise in fleet electrification and digital acceleration initiatives.

Crosby Cook, Partner within EQT’s Value-Add Infrastructure Advisory Team, said, “We have followed the progress of the Company for several years and have been impressed by management’s track record of exceptional customer service, year-over-year growth, and leadership in areas like electrification and data analytics. We are excited to support management and the Company through its next phase of growth and believe EQT’s significant experience in the sector and expertise in electrification and digitalization will be highly complementary to what is already an exceptional platform.”

Adam Newsome, CEO of Lazer Logistics, said, “This represents a new and exciting phase for Lazer Logistics. We have prided ourselves on our relentless focus on our customer’s needs, commitment to safety, and treating all our employees as family. With EQT’s expertise in logistics, fleet electrification and digital acceleration, we are poised for continued growth as we further enhance our product and service offerings for our customers while maintaining focus on our core business solutions of outsourced yard management and trailer spotting services.”

The transaction is subject to customary conditions and approvals. It is expected to close in in 2Q 2023. With the acquisition of Lazer Logistics, EQT Infrastructure VI (target fund size of EUR 20.0 billion) is expected to be 10-15 percent invested based on its target fund size (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

EQT Value-Add Infrastructure was advised by Jefferies LLC and Paul, Weiss, Rifkind, Wharton & Garrison LLP. Harvest Partners and Lazer Logistics were advised by Harris Williams, William Blair, and Ropes & Gray LLP.

Contact
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com

International inquiries: EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Infrastructure VI will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About EQT
EQT is a purpose-driven global investment organization with EUR 113 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence, and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Lazer Logistics
For more information about Lazer Logistics, please visit www.lazerlogistics.com.

Categories: News

EQT Life Sciences closes Dementia Fund at the hard cap

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  • The LSP Dementia Fund has held its final close at approximately EUR 260 million, at the hard cap and above its original target fund size of EUR 100 million
  • Investors include the Alzheimer’s Association, the European Investment Fund, several global pharmaceutical companies, and insurance companies, amongst other
  • The Fund aims to bring new treatments to patients suffering from Dementia, which is one of the greatest healthcare challenges of our time
  • Led by Professor Philip Scheltens, one of the world’s leading experts on dementia, the LSP Dementia Fund further strengthens EQT’s position as one of the leading and most active private markets investors in the healthcare sector

EQT Life Sciences has held the final close of its inaugural LSP Dementia Fund (“the Fund”), raising approximately EUR 260 million in fee-generating assets under management, meeting the hard cap and surpassing the target fund size of EUR 100 million. The fund is dedicated to investing in companies that are developing breakthrough drug therapies and medical technologies across the spectrum of neurodegenerative diseases.

Dementia is the greatest health challenge of our time: there are 54 million patients with the disease worldwide, and without significant time and investment in battling the disease, this number is predicted to triple by 20501. Despite the graveness of the situation, investment in dementia research and development is substantially lower compared to other major healthcare challenges such as cancer, HIV/AIDS, and cardiovascular disease. The LSP Dementia Fund has been created to help bridge this gap by advancing breakthrough dementia innovation to bring new drugs to patients, while simultaneously seeking to generate strong financial returns for its investors.

The LSP Dementia Fund investment team is led by Philip Scheltens, MD, PhD, professor emeritus at Amsterdam University Medical Center and one of the world’s most renowned dementia researchers, having (co)authored over 1100 scientific publications. The other partners in the investment team are Felice Verduyn-van Weegen, MBA, Cillian King, PhD, and Arno de Wilde, MD, PhD, MBA. The team is supported by the expertise and network of EQT Life Sciences, which has over 30 years of investing experience and closed its flagship LSP 7 fund at over EUR 1 billion in fee-generating assets under management in 2022. It will also become an integral part of EQT’s Healthcare sector platform, further strengthening EQT’s global expertise in the sector and ability to support companies from venture-stage to mature, market leaders.

The Fund is supported by a broad range of investors including the Alzheimer’s Association, the world’s largest charity and advocacy organization in the field, insurance companies, the European Investment Fund, and several global pharmaceutical companies – including from Asia and the US – which underlines the industry’s interest in European life sciences venture opportunities. Other investors include endowments, foundations, and other private wealth investors.

The Fund intends to invest in 10 to 15 companies in total. Having made its first investment in NewAmsterdam Pharma (Nasdaq: NAMS), which focuses on cardiovascular and Alzheimer’s disease, in January 2021, the fund has since invested in four companies: Muna Therapeutics (Alzheimer’s disease and Parkinson’s disease), AviadoBio (Frontotemporal Dementia (FTD) and Amyotrophic lateral sclerosis (ALS)), Nobi (smart care solutions in nursing homes) and QurAlis (FTD and ALS).

Prof. Philip Scheltens, Partner and Head of the LSP Dementia Fund commented: “The final close marks the end of a very successful fundraising journey in which we have experienced strong interest and commitment. This gives us the confidence to invest in groundbreaking science and entrepreneurship, which this field so urgently needs. I am very proud to be leading such an experienced team of neuroscientists and investors and being part of an organization with such a high standing in the field of life sciences.”

Dr. René Kuijten MD, PhD, MBA, Partner and Head of EQT Life Sciences, said: “EQT Life Sciences aims to improve patient’s lives by supporting the development of breakthrough therapies. We strongly believe that neurodegenerative diseases are the next big challenge after oncology and cardiovascular diseases. With this fund, EQT Life Sciences is now in a strong position to support companies at the cutting-edge of battling this disease.”

Michael Bauer, Partner and Co-Head of EQT’s Global Healthcare sector team, concluded: “EQT is already one of the world’s most active and leading healthcare investors and the close of this fund further strengthens this position. From the earliest stages all the way through to global market leaders, EQT has the experience, expertise, and firepower to support companies in every phase of their development.”

Notes to Editors

The LSP Dementia Fund is a Dutch fund managed by a Dutch AIFM.

[1]Source: Prince, M. Prina, M & Guerchet, M. The Global Impact of Dementia: 2013 – 2050. Alzheimer’s disease international.

Contact
Prof Dr. Philip Scheltens, Partner and Head of the LSP Dementia Fund, philip.scheltens@eqtpartners.com

EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with EUR 113 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram 

About EQT Life Sciences
EQT Life Sciences was formed in 2022 following the integration of LSP, a leading European life sciences venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients. The team combines deep sector knowledge, analytical skills, and investment experience to provide the added value that inventors seek.

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Ratos Company HL Display to acquire Oechsle Display Systems and werba print & display

Ratos

HL Display has signed an agreement to acquire Oechsle Display Systems, a manufacturer of communication and shelf management solutions, and its sister company werba print & display, a provider of print and display solutions. The acquisitions are the sixth and seventh respectively since HL Display’s acquisition journey started in 2021, and they will create major industrial synergies.

The acquisition will expand HL Display’s footprint in Germany and further strengthen its position as the leading supplier for in-store merchandising and communication solutions to grocery retailers in Europe.

“HL Display’s growth journey is characterized by underlying good organic growth combined with a high acquisition rate of fine companies, precisely the type of deals that have great industrial synergies. Now HL Display is taking further big and important steps in Germany, and thereby strengthening its position as the leading European player. Furthermore, these ad-on acquisitions are numbers six and seven since HL’s acquisition journey started in 2021, it is impressive both in terms of quality and pace. We are very satisfied with the development so far and look forward to the next steps,” says Anders Slettengren, Chairman of the Board of HL Display and Executive Vice President, Ratos.

“I am glad to announce the acquisitions of Oechsle Display Systems and werba print & display. Both companies are a great addition to HL, given their impressive track record and strong footprint in Germany, a market where we are looking to expand our presence. As Oechsle’s product assortment is close to HL’s, the offering of both companies can be combined to provide a stronger proposition to our customers. werba on the other hand will enable us to provide printed and bespoke solutions to our customers in Central Europe, similar to our offer to customers in the UK today. I am confident this acquisition will set us up for a successful future together,” says Björn Borgman, CEO of HL Display.

Founded in 1956, Oechsle Display Systems is based in Leipheim, Germany and has 160 employees. The family-owned company has a track record of innovation, including the plastic poster frame introduced in the 1970ies. Today, Oechsle Display Systems has annual sales of €13M from a large assortment of solutions for shelf management, price labelling and sales promotion.

The Sister company werba print & display develops, designs and produces customised POS display solutions out of various materials but also offers high quality print products for grocery trade as well as non-food retailers such as drug stores and brand suppliers. Founded in 1975, the company has been owned by the Oechsle family since 2004 and generates an annual turnover of €13M. Its 140 employees are based in Buhl, Germany.

The acquisition is expected to be finalized by 3 April 2023.

About HL
HL is a global leader in in-store merchandising and communication solutions, helping customers to create a better shopping experience around the world. Founded in 1954, HL today is present in more than 70 countries and solutions can be found in 330,000 stores, supporting customers to grow sales, inspire shoppers, drive automation, and reduce waste. The three customer segments are retail food, branded good suppliers and non-food retail.

The HL Display Group has its headquarters in Stockholm, Sweden and sales offices in 23 countries covering 39 markets as well as distribution partners covering the remaining markets globally. The five production facilities are located in Sweden, Poland, the UK and China and handle a variety of industrial processes, including plastics and metal fabrication, printing and assembly.

The company has 1,100 employees and net sales of 1,900 MSEK.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21
Björn Borgman, CEO HL Display, +46 72 264 17 90

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 32 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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EQT Growth to acquire GotPhoto, a leading vertical software platform helping photographers spend less time behind their desk and more time behind the lens

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  • GotPhoto is dedicated to making photographers’ lives easier and more efficient. The Company provides an end-to-end workflow and e-commerce solution enabling its customers to digitalize key parts of their workflow, from photo management to payment and marketing automation, to order fulfilment, combining high functionality with a user-friendly platform
  • With over 4,000 customers in the US, UK and DACH, GotPhoto is already one of the largest players in the workflow and e-commerce solution market for volume photography, which is expected to grow 24% year-on-year through 2027
  • EQT Growth, in partnership with GotPhoto’s founders and management team, will support the Company’s continued organic and inorganic growth plans in its core markets and expansion into additional verticals and geographies, while further investing in the Company’s platform, product and commercial excellence

The EQT Growth fund (“EQT” or “EQT Growth”) has entered into an agreement to acquire a majority stake of GotPhoto Company (“GotPhoto” or “the Company”) from its founders, existing angel investors, and management team, who will remain minority owners. GotPhoto’s management team, including its CEO, Benedikt Greifenhofer, will continue to lead the Company, building on its strong track record of growth. As part of the transaction, EQT Growth will also invest additional primary capital into the business to further accelerate the company’s organic growth, including product & tech investments, as well as capitalize on attractive inorganic opportunities in the market.

Founded in 2012 and headquartered in Berlin, Germany, GotPhoto (and its German brand, fotograf.de) are dedicated to making the lives of photographers easier and more efficient, helping them spend less time behind their desk and more time behind the lens. By enabling photographers to digitalize key parts of their workflow, including photo management, photo editing, marketing automation, payment, and order fulfillment, GotPhoto effectively powers the daily operations of photographers, allowing them to save significant time and effort across photo shoots. The Company – which has over 4,000 customers, primarily SMBs and “solopreneur” photographers, across the US, UK and DACH – has managed to build a strong reputation as a leading vertical software solution within the people photography segment across its core markets, while being bootstrapped.

GotPhoto operates in a large but highly fragmented and antiquated market, in which digital services and products are not commonly used. As customers increasingly recognize the benefits of digital-native workflow management solutions like GotPhoto’s, it is expected that the underlying core market will grow 24% year-on-year through to 2027. Added to that, historically the volume photography market has proven to be more resilient than other parts of the wider photography market given people’s continued desire to purchase high quality photos as a way to “capture a moment” in time, like the first day of nursery or graduation day. GotPhoto is already well positioned in this market thanks to its seamless end-to-end functionality and user-friendly platform, which has allowed the Company to continue winning market share from legacy solutions, seeing consistent 50% year-over-year growth over the last five years.

EQT Growth will partner with GotPhoto’s founders and management team to further invest in the Company’s proprietary tech platform while it adds new product features. At the same time, as GotPhoto continues to build its commercial expertise it will benefit from access to EQT’s in-house digital team, EQT’s network of over 600 expert industrial advisors, and shared learnings across EQT’s global business, which is active in the Company’s core markets across in Europe and North America. With this support, GotPhoto plans to further expand its presence in areas such as sports and portrait photography as well as new attractive geographies, as it aims to strengthen its position as a leading global player in people photography. In addition to that, both EQT and GotPhoto believe there are a number of interesting M&A opportunities in the market, which should help complement the company’s organic strategy and accelerate the team’s ambitious growth plans.

Benedikt Greifenhofer, CEO of GotPhoto, remarked: “I’m very proud of everything that our team here at GotPhoto has achieved so far but, in many ways, this is just the beginning. Partnering with EQT Growth marks the beginning of an exciting new chapter for GotPhoto. It will enable us to accelerate our mission of driving the digitization of the people photography market and allowing photographers to do what they do best: taking photos. We look forward to leveraging EQT’s digital expertise and sector experience, combined with their local presence across Europe, the US, and Asia and their broad network of industrial advisors, to successfully take this next step on our journey.”

GotPhoto Co-Founder and former CEO Markus Posselt, who will transition to GotPhoto’s Advisory Board, commented: “I’m very happy that with EQT Growth we have found an ideal partner for GotPhoto’s next stage of growth. Not only was EQT our preferred partner of choice given their global scale, strong value-add capabilities, and sub-sector expertise across software and prosumer technology investments, but also given the great cultural fit with the EQT team and their alignment of vision and values with ours.”

Dominik Stein, Partner in the EQT Growth Investment Advisory Team who will also join GotPhoto’s Advisory Board, concluded: “GotPhoto is a prime example of a technology company supported by long-term macro trends and led by an excellent management team that is ready to embark on the next phase of its growth journey. Benedikt and the entire GotPhoto team have accomplished so much, having to-date been entirely bootstrapped, and we are delighted to partner with them as we continue to build on GotPhoto’s market-leading position in the US, UK, and DACH.”

The transaction is subject to customary conditions and approvals. It is expected to close in April 2023.

BCG, PwC, Willkie, Awelin, Netlight, and Aon served as advisors to EQT Growth.
Stout, KPMG, and Springer Kuss served as advisors to GotPhoto.

Contacts

Finn McLaughlan, +44 77 1534 1608, finn.mclaughlan@eqtpartners.com
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT Growth
EQT Growth supports leading growth-stage technology companies as they take the next step to scale. The strategy seeks to invest around EUR 50 million to EUR 200 million, backing strong management teams of companies supported by secular macro trends primarily within four tech sub-sectors: enterprise, con/prosumer, health, and climate. Based in five countries across Europe, the EQT Growth team has extensive investing and operating experience that allows it to support its portfolio companies however called upon.

EQT is a purpose-driven global investment organization with EUR 113 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com

Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About GotPhoto
For the past decade, GotPhoto has been the leader in supporting high-volume photographers with its easy-to-use, comprehensive workflow and sales software. With a mission to make school, sports, and dance photographers more successful, whether you photograph 100 students or 100,000, GotPhoto can help you save time and increase your sales.

More info: https://www.gotphoto.com

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EQT Growth invests EUR 100 million in IntegrityNext, a sustainability software platform dedicated to making supply chains more transparent and compliant

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  • Munich-based IntegrityNext empowers businesses to meet regulatory ESG requirements, manage ESG risks and improve supply chain sustainability.
  • The Company operates in a rapidly growing market that will likely benefit from the introduction of several major regulatory frameworks around climate protection and human rights, as ESG compliance and risk assessment becomes a “license to operate” issue
  • Its cloud-based software platform is used by more than 200 customers, including Siemens Gamesa, Infineon, SwissRe, Kion and Hilti. To date, the company monitors almost 1 million suppliers in more than 190 countries
  • EQT Growth will support the Company as its first institutional investor, leveraging its experience of investing throughout the tech value-chain, global network of sustainability and technology advisors, and in-house teams of digitization and sustainability experts

The EQT Growth fund (“EQT Growth”) has today announced a EUR 100 million investment in IntegrityNext (“the Company”), a sustainability software platform dedicated to enabling supply chain transparency and regulatory compliance. Co-founders Martin Berr-Sorokin (CEO), Simon Jaehnig (CRO) and Nick Heine (COO), who have grown the business whilst bootstrapped to date, will continue to lead the Company.

Founded in 2016 and headquartered in Munich, Germany, IntegrityNext has grown to serve more than 200 customers and monitoring almost one million suppliers, making it one of the leading environmental, social and governance (“ESG”) Certification software solutions in Europe. Its cloud-based platform enables enterprises – such as Siemens Gamesa, Infineon, SwissRe, Kion and Hilti – to assess risk and monitor a large portion of their supply chain for ESG metrics and compliance, allowing them to meet stakeholder demands and regulatory requirements. IntegrityNext has also partnered and integrated with leading enterprise software tools, including Celonis, Coupa and SAP, allowing it to offer supply chain assessments across numerous major industries.

The penetrated market in Europe for sustainability supply chain software solutions is expected to see strong growth over the next years. According to market estimates, the penetrated market is growing by more than 50 percent annually1 with an expected market volume of around EUR two billion in the medium term1,2. This development is driven by the introduction of several major regulatory frameworks across Europe. Most notably, these include the German Supply Chain Due Diligence Act (“LkSG”), the EU’s Green Deal and Corporate Sustainability Reporting Directive (“CSRD”). At the same, increasing stakeholder pressure is also expected to drive market expansion, as ESG compliance and risk assessment becomes a “license to operate” issue for companies worldwide.

EQT Growth will partner with IntegrityNext on the next phase of its growth journey as it looks to further cement its leading position within Germany, while expanding its core product to serve upcoming European regulations. EQT Growth will bring its experience of investing throughout the tech value-chain, supported by EQT’s dedicated in-house teams of digital and sustainability experts and network of 600 advisors. Together, EQT Growth and IntegrityNext will further invest in the tech platform to support the acceleration of the product offering, and position it for long-term success.

Martin Berr-Sorokin, CEO and co-founder of IntegrityNext, said: “The critical importance of ESG is not a new concept to modern businesses. However, as a raft of regulatory frameworks – like Germany’s LkSG or the EU’s CSRD – begin to take effect, supply chain transparency and sustainability is evolving from a nice-to-have to a must-have. As more clients entrust us and we embark on our next stage of growth, we’re excited to be partnering with an experienced and hands-on investor with European roots and global scale like EQT Growth.”

Dominik Stein, Partner in the EQT Growth Investment advisory team who will join IntegrityNext’s Advisory Board, said: “IntegrityNext’s technology provides a streamlined and automated way for customers to easily monitor and certify their supply chain for ESG risks. Their cutting-edge product and large footprint in their home market of Germany positions them well to expand across Europe, as they have already built a significant proprietary supplier database. We look forward to working with Martin and the entire IntegrityNext team as they accelerate on their journey to making supply chains more transparent.”

 

Notes to Editors
1Source: EQT Growth, Internal Market Sizing
2Source: PWC Market-Report

Contact
Finn McLaughlan, +44 77 1534 1608, finn.mclaughlan@eqtpartners.com
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
About EQT Growth

EQT Growth supports leading growth-stage technology companies as they take the next step to scale. The strategy seeks to invest around EUR 50 million to EUR 200 million, backing strong management teams of companies supported by secular macro trends primarily within four tech sub-sectors: enterprise, con/prosumer, health, and climate. Based in five countries across Europe, the EQT Growth team has extensive investing and operating experience that allows it to support its portfolio companies however called upon.

EQT Growth is an investment strategy of EQT, a purpose-driven global investment organization with EUR 113 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

 

About IntegrityNext – Boost Supply Chain Sustainability

IntegrityNext is a leading solution for supply chain sustainability management that empowers companies to improve supply chain sustainability and meet regulatory ESG requirements. The cloud-based platform enables companies to quickly and cost-effectively check their supplier base against sustainability-related regulations (e.g. the German Supply Chain Act), standards (e.g. international human and labour rights), and voluntary commitments (e.g. supply chain decarbonization/Net Zero). IntegrityNext helps its clients identify and manage ESG risks along the value chain, reducing reputational and financial risks and improving sustainability performance.

More info: www.integritynext.com

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Gimv participates in $105 million financing of Mediar Therapeutics alongside fellow leading global life sciences investors to develop first-in-class fibrosis therapies

GIMV

Topic: Investment

Mediar Therapeutics (Cambridge, MA, USA), a company developing a portfolio of first-in-class therapies to treat fibrosis, announces a 105mio USD financing including a 85mio USD Series A co-led by Novartis Venture Fund and Sofinnova Partners. The round is further joined by Gimv together with Pfizer Ventures, Mission BioCapital, Pureos, Bristol-Myers Squibb, Eli Lilly, Ono Venture Investment and Mass General Brigham Ventures.

Fibrosis, triggered by inflammation or injury, results in an abnormal production of scar tissue that can lead to organ failure. Luckily not all fibrosis leads to organ failure. Today, no cure for fibrosis exists and current therapies are suboptimal. Mediar Therapeutics was founded on pioneering fibrosis research from Harvard Medical School and Mass General Brigham & Women’s Hospitals. Mediar works on a pipeline of unique factors influencing myofibroblasts, the key cell type driving fibrosis progression.

This Series A financing will allow Mediar Therapeutics to accelerate with the development of a portfolio of first-in-class antibody treatments with a unique potential to treat fibrosis at different stages of the disease. Two of the programs will advance into human studies by 2024.

Andreas Jurgeit Ph.D, Partner Life Sciences at Gimv who has also joined the board of directors of Mediar Therapeutics comments: “Mediar is a unique combination of science, talent and the opportunity to serve a significant unmet medical need. Fibrosis contributes to a significant percentage of deaths in the industrialized world and today no cures or appropriate treatments exist. We are very pleased with Gimv joining a strong syndicate of leading global life sciences investors to back Mediar Therapeutics. We are looking forward to work closely together with the management, our industry partners and co-investors to realize Mediar Therapeutics’ mission.”

Christoph Kocher, Associate at Gimv, added: “Mediar’s vision of leveraging myofibroblast biology to address major unmet needs in patients suffering from fibrotic pathologies fully embodies the mission of Gimv´s Life Sciences platform: Building leading companies that have a sustained impact on patients and society.

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Bridgepoint announces strategic investment in Monica Vinader as Piper and Winona Capital exit

Bridgepoint
  • The renowned affordable luxury jewellery brand will leverage Bridgepoint’s global network, sector expertise and capital to further accelerate its international expansion
  • Sales for Monica Vinader have quadrupled to c. £100m since 2016, driven by a market-leading omni-channel platform and growing presence in the US and China
  • Bridgepoint estimates that the jewellery market is valued at £5bn in the UK, £52bn in the US and is growing at 2.3% per year, globally

Bridgepoint has today announced that Bridgepoint Development Capital IV (BDC IV), a fund focused on investing in mid-market growth businesses, has agreed to make a strategic investment in the renowned affordable luxury brand Monica Vinader.

As part of the transaction, Piper, one of the UK’s leading specialist investors in consumer brands, and Winona Capital, the US consumer specialist, will sell their stakes in Monica Vinader to Bridgepoint. Financial terms of the transaction were not disclosed. Monica (CEO) and Gabriela Vinader (MD), who hold a minority stake in the business, will continue to lead the business supported by their strong functional team.

Launched in 2008, Monica Vinader is an award-winning British demi-fine luxury jewellery brand, with sustainability and social responsibility at the forefront of its decision making. Its popular and affordable products are sold in over 70 countries and the company employs more than 350 people worldwide. The customer-centric brand is digitally led with a strong online presence, complemented by 19 international stores, concessions and partner network.

Monica Vinader has achieved strong growth in recent years, driven by a loyal following including celebrities and social media influencers. Overall sales have quadrupled to c. £100m since 2016 and the purpose-led brand has established positions in further global markets including China and the US.

The latest strategic investment builds on Bridgepoint’s growing track record and expertise in supporting entrepreneurs and founders of premium consumer and digitally led businesses, including Vitamin Well, the Nordic functional drinks business; Seraphine, the maternity wear brand; Groupe Thom, the leading French jewellery retailer and Molton Brown, the British fragrance brand.

In 2016, Piper invested £14m as part of a £20m investment into the business, alongside Winona Capital, to help the brand accelerate direct to consumer sales and grow its US operations.

Monica Vinader, CEO and founder, said:

“We look forward to the next chapter of our journey and working with the team at Bridgepoint to continue to grow and develop the brand. We would like to thank the excellent team at Piper and Winona Capital for all their support and expertise, especially during this extended period of unprecedented global challenges. We are grateful for all their hard work and guidance in helping us develop into a truly global brand legend.”

Troy Harris-Speid, Director at Bridgepoint Development Capital, said:

“Over the past 15 years, Monica Vinader has built a hugely impressive international and purpose-led brand with a loyal customer base at its heart. We share the leadership’s team ambition to grow their global community through a digital-first approach, complemented by an own-store and partner network to reach customers however they shop. We look forward to partnering with the Monica Vinader team during its next stage of growth.”

Chris Curry, Chairman and Manger Partner at Piper, said:

“It’s been a pleasure to work with Monica, Gabriela and their team and see the brand expand into new territories, while always retaining its focus on the high quality and sustainability of its products. Even in difficult times, the brand has continued to reach and delight new customers – testimony to the strength of its offering. We wish the team every success for the future.”

The transaction is expected to close on 31 March 2023. It marks the ninth platform investment by BDC IV, and its fourth in the UK.

The shareholders of Monica Vinader were advised by Houlihan Lokey (Financial Advisor), Pinsent Masons (Legal Advisor) and PWC (Vendor Due Diligence).

The shareholders of Bridgepoint were advised by Highstead (Financial Adviser), Ropes & Gray (Legal Advisor), OC&C (Commercial Due Diligence), 8Advisory (Financial, Tax and Operations).

ENDS

For more information

Bridgepoint: Nicole Gregory, Nicole.Gregory@Bridgepoint.eu, +44 (0) 7867 069 198

Piper: George Thwaites at Clearwood Media, george@clearwoodmedia.com +44 (0)7784 117534

About Monica Vinader

Monica Vinader launched her eponymous business in 2008 to provide customers with affordable luxury pieces that bridge the gap between costume and fine jewellery. The brand quickly became renowned for its highly desirable jewellery, including iconic bespoke chain links and pave diamond rings, and popular among a dazzling array of celebrities.

Backed by award-winning sustainability practices, Monica Vinader jewellery is handcrafted in 100% recycled gold and sterling silver with conflict-free diamonds and natural gemstones.

Monica Vinader is proud to be leading its category in sustainability and social responsibility – a focus which has resulted in it receiving the Butterfly Mark Award from Positive Luxury and being named 2021 Ethical Jewellery Business of the Year from Retail Jeweller.

About Bridgepoint Development Capital

Bridgepoint Development Capital (BDC) is a dedicated team and fund focusing on buyouts and growth capital investments in businesses in the lower middle-market. These are typically growth companies operating in sectors experiencing structural growth and with the potential to grow revenues and profits.

BDC invests across six sectors: Business Services, Consumer, Financial Services, Healthcare, Manufacturing & Industrials and Technology & Media with companies across Europe.

BDC has a strong track record of adding significant value to its portfolio companies, with more than 30 investments made over the last decade.

About Piper

Piper is a leading UK private equity firm specialising in investing in fast-growing consumer brands. Established by entrepreneurs in 1985, it has an enviable record of building iconic brands. Its investments have included Bloom & Wild, Mindful Chef, Orlebar Brown, Forthglade, PROPER, The Thinking Traveller, Loungers, Turtle Bay, Flat Iron, Bottlegreen, Boden, and Neom Organics. For more information, please go to www.piper.co.uk

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Adelis to become controlling shareholder in Hedvig – SEB and Nicklas Storåkers to co-invest

Adelis Equity

The fast-growing insurance company Hedvig raises SEK 333 million in an investment round led by Adelis Equity Partners as new controlling shareholder, with Swedish bank SEB and Nicklas Storåkers as co-investors. In conjunction with the transaction, SEB initiates a strategic distribution partnership with Hedvig. The new board of directors will be led by Nicklas Storåkers as chairman and include Michael Wolf as board member.

Only five years from inception, Swedish insurance company Hedvig has set a new standard in terms of customer service and availability, which has led to 10% of the Swedes choosing Hedvig when signing up for a new home insurance. As a result, Hedvig today has 130,000 members and a total GWP volume of SEK 200 million. To further accelerate the journey, Hedvig now raises SEK 333 million in a round led by new controlling shareholder Adelis, with SEB and Nicklas Storåkers as co-investors.

“Following this transaction, Hedvig will leave the startup phase, and with a fully capitalized business plan we will execute on a more focused growth strategy whilst reaching profitability. As part of the strategy, I am very happy to welcome Adelis as a strong and experienced growth partner”, says Lucas Carlsén, CEO and co-founder at Hedvig.

“Hedvig has built a unique position as challenger in the Swedish insurance market, with its market share growing fast and consistently every month. Over the past months, Hedvig has also proven its ability to grow in a cost-efficient manner, thanks to its successful partnership model as main growth driver. With a stronger capital base and an experienced board, we look forward to supporting Hedvig to become a leading insurance company in Sweden”, says Erik Hallert, partner at Adelis.

In conjunction with Adelis becoming the new controlling shareholder, SEB will co-invest and simultaneously initiate a strategic distribution partnership with Hedvig. Nicklas Storåkers, ex CEO of Avanza and Hedvig’s first investor in 2017, will also invest and become chairman of the board.

“I have followed Hedvig for six years, they offer an outstanding customer experience and are growing rapidly, not the least through partnerships. SEB is an example of a partner that will be able to distribute Hedvig’s products along with its core offering. Going forward, I am convinced that future partners to Hedvig will encompass everything from banks to car dealers, who will strengthen their offering with Hedvig insurances as an add-on”, says Nicklas Storåkers, incoming chairman at Hedvig.

The new board of directors will represent significant industry experience and include Michael Wolf (ex CEO of Swedbank), Henrik Rättzén (ex CFO of Trygg-Hansa) and Torgny Johansson (CEO of Futur Pension).

The transaction is subject to customary regulatory approval from the Swedish Financial Supervisory Authority and expected to close in the coming months.

For further information:

Lucas Carlsén, CEO and Co-founder at Hedvig AB

Phone: 072-529 88 65

E-mail: lucas@hedvig.com

Erik Hallert, Adelis Equity Partners

Phone: 070-936 80 41

E-mail: erik.hallert@adelisequity.com

About Hedvig

Hedvig is a Swedish insurance company on a mission to make it effortless to bounce back from loss. Launched in Sweden in 2018, Hedvig now insures 130,000+ people through home, accident, travel, and car insurance. Through stellar service and fast in-app claims handling, Hedvig defines a new type of insurance experience. For more information, please visit www.hedvig.com

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 38 platform investments and more than 180 add-on acquisitions. Adelis today manages approximately €2.5 billion in capital. For more information, please visit www.adelisequity.com

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Wireless Logic continues global expansion with acquisition of Blue Wireless

Montagu

Wireless Logic strengthens geographical reach across Asia Pacific and the United States, and bolsters global service offering through a managed service provider for wireless network solutions.

Wireless Logic, the leading global IoT connectivity platform provider has acquired Singapore-headquartered Blue Wireless, a global service provider for managed wireless solutions. This agreement follows the company’s 2022 acquisitions of IoThink Solutions, Mobius Networks and Jola, continuing Wireless Logic’s strategy of strengthening its global footprint, service offering and routes to market.

Blue Wireless was founded in late 2015 in Singapore with the single focus of delivering Wireless WAN Solutions to the enterprise. Since then, it has rapidly expanded in coverage and capabilities, becoming the first provider of Fixed Wireless Access services on a global scale. Its team of 70 professionals operates across six offices in Asia Pacific, Europe and the United States, offering 24/7 managed network connectivity for businesses across all industries – including energy, retail, logistics and the maritime sector.

With the acquisition, Wireless Logic not only strengthens its presence in Asia Pacific and the United States, but also enhances its product and service offering around fixed wireless access. Blue Wireless offers fixed-price LTE/5G connectivity in over 80 countries, underpinned by speed guarantees and service SLAs, making it an ideal underlay alternative for global SD-WAN deployments.

Ivan Landen, CEO of Blue Wireless, said: “This is a major milestone, and we are truly excited for the journey ahead. With the support of Wireless Logic, we will be able to accelerate our innovation and connectivity roadmap to benefit our customers and teams around the world, supporting new use cases while maintaining our hands-on service culture.”

With the support of Wireless Logic, we will be able to accelerate our innovation and connectivity roadmap to benefit our customers and teams around the world, supporting new use cases while maintaining our hands-on service culture.

Ivan Landen, CEO, Blue Wireless

Joop Gerlach, COO of Blue Wireless, said: “We will continue to deliver wireless network solutions to our global enterprise customers, only now it will be backed by Wireless Logic’s strong position in core Mobile IoT networking.”

We will continue to deliver wireless network solutions to our global enterprise customers, only now it will be backed by Wireless Logic’s strong position in core Mobile IoT networking.

Joop Gerlach, COO, Blue Wireless

Oliver Tucker, CEO of Wireless Logic commented: “We are hugely excited to announce our ninth acquisition in two years, as we continue to strengthen our global footprint and routes to market through the global service provider channel. We welcome the talented Blue Wireless team and look forward to setting new standards in the connectivity marketplace.”

We welcome the talented Blue Wireless team and look forward to setting new standards in the connectivity marketplace.

Oliver Tucker, CEO, Wireless Logic

 

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Carlyle Agrees to Sell PrimeFlight Aviation Services to The Sterling Group and Capitol Meridian Partners

Carlyle

Large and growing market, breadth of service offerings and customers served, and strong operating performance all position PrimeFlight to drive continued growth

Washington, DC and Houston, TX – Funds managed by global investment firm Carlyle (NASDAQ: CG) today announced a definitive agreement to sell PrimeFlight Aviation Services (“PrimeFlight” or the “Company”) to Capitol Meridian Partners and The Sterling Group. PrimeFlight is a global provider of essential aircraft, passenger, and security-related services to commercial airline, airport, cargo, and general aviation customers.

The transaction will close upon satisfaction of customary closing conditions. Financial terms were not disclosed. The acquisition of PrimeFlight will represent a 50/50 partnership between The Sterling Group and Capitol Meridian Partners.

Headquartered in Sugar Land, TX, PrimeFlight has operations across approximately 235 stations globally. It provides a full suite of services through its network of subsidiaries, including PrimeFlight Cargo, PrimeFlight GSE Maintenance, Prime Appearance, ProFlo Industries, Skytanking, and Aviation Cleaning Supply. PrimeFlight has more than 20 years of service excellence in the aviation industry, offering customers broad and reliable support, including mission-critical fueling, deicing, and ground handling services. The Company has approximately 12,000 employees across its global footprint, with primary operations in North America and Europe.

Doug Brandely, Managing Director at Carlyle, said: “We are grateful to have had the opportunity to partner with the management team to lead the transformation of PrimeFlight. The PrimeFlight team expertly navigated an unprecedented time in the commercial aerospace industry to deliver substantial growth. Over the course of our partnership, we completed 20 acquisitions to build a global aviation services platform. PrimeFlight has an impressive runway for future growth, and we look forward to seeing the Company’s continued success.”

“We’re thankful to Carlyle for the tremendous support over the years,” said Dan Bucaro, PrimeFlight Chief Executive Officer. “This is an exciting time for PrimeFlight as we have significantly expanded our operations outside of North America, continue to execute on new business wins, and we have a strong pipeline of continued growth through our global footprint. We look forward to partnering with Capitol Meridian Partners and The Sterling Group in this evolution.”

Adam Palmer, Partner and Co-Founder of Capitol Meridian Partners, said: “We are thrilled to once again partner with the PrimeFlight management team in support of the Company’s next phase of growth. PrimeFlight represents a unique opportunity to partner with a management team for a second time on the same platform. We are excited to invest behind the Company in support of their organic and inorganic growth strategy, during a time in which the aviation industry is continuing its strong recovery from the pandemic.”

Greg Elliott, Partner of The Sterling Group, added: “We have partnered with Dan Bucaro as either CEO or Chairman on nine companies over the past twenty years. Dan and his team of industry veterans have built a tremendous platform for growth in PrimeFlight. We look forward to our continued partnership.”

Latham & Watkins, LLP is serving as legal counsel to PrimeFlight and Carlyle, and Morgan Stanley & Co LLC and Jefferies, LLC served as financial advisors to PrimeFlight. McDermott Will & Emery is serving as legal counsel to Capitol Meridian Partners and The Sterling Group.

About The Sterling Group
Founded in 1982, The Sterling Group is a private equity and private credit investment firm that targets investments in basic manufacturing, distribution, and industrial services companies. Typical enterprise values of these companies at initial formation range from $100 million to $750 million. Sterling has sponsored the buyout of 64 platform companies and numerous add-on acquisitions for a total transaction value of over $14.0 billion. Sterling currently has over $5.1 billion of assets under management. For further information, please visit www.sterling-group.com.

About Capitol Meridian Partners
Capitol Meridian Partners is a Washington, DC-based private investment firm formed in 2021 to invest in businesses operating at the nexus of government and commercial markets. The firm targets businesses where it can drive growth and value creation through active engagement and strategic transformation. The firm draws upon deep sector expertise and 70+ years of its principals’ investing experience. For further information, please visit www.capitolmeridian.com.

About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $373 billion of assets under management as of December 31, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,100 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

About PrimeFlight Aviation Services
Headquartered in Sugar Land, Texas, PrimeFlight Aviation Services provides major airlines, airports, cargo and general aviation customers with GSE maintenance, ground handling services, aircraft services, into-plane fueling, deicing, aviation cleaning supplies, and terminal services, across a global footprint.
For more information, visit www.primeflight.com.

Media Inquiries:
The Sterling Group – Franny Jones fjones@sterling-group.com
Capitol Meridian Partners – Chris Ullman | 202.641.2234 | chris@chrisullman.com
Carlyle – Brittany Berliner | 212.813.4839 | brittany.berliner@carlyle.com
PrimeFlight – Amanda Hoffman Byers | abyers@primeflight.com

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