CapMan has published its Sustainable Investments Snapshot for 2021

Capman

CapMan press release
11 June 2021 at 9:30 a.m. EEST

CapMan has published its Sustainable Investments Snapshot for 2021

CapMan has published its third Sustainable Investments Snapshot, which covers CapMan’s approach to the integration of environmental, social and governance factors in our investment process and the progress in our funds.

CapMan is an active investor in growing businesses, real estate and infrastructure in the Nordic countries. As active owners, we influence through decision-making and by setting and promoting best practices, and funds managed by CapMan can drive change on a broad scale.

Investing is a direct way of influencing behaviour and promoting activities that are aligned with a framework of values. At CapMan, we are serious about investing in companies, activities and assets that contribute to the well-being of communities in which we operate, while adhering to good governance practice.

This past year, we have continued to develop our approach to sustainable investing by going over processes, gathering data, conducting materiality analysis and defining where we can make a real difference.

Select sustainability development in our operations and portfolio in 2020:

  • SDG 5 Gender equality: +3% more women on average in Buyout portfolio company management groups compared to 2019
  • SDG 8 Decent work and economic growth: +17% average jobs growth in Growth portfolio companies in 2020
  • SDG 13 Climate action: 23% reduction in CO2 emissions from 2019 levels for Norled, CapMan’s portfolio company accounting for the largest share of CO2 emissions in CapMan’s portfolio
  • SDG 13 Climate action: 65% reduction in CapMan Group CO2e footprint from 2019 levels, mostly due to reduced business travel

Please read the snapshot for more details.

www.capman.com/company/sustainability/
Sustainable Investments Snapshot 2021

For more information, please contact: 
Linda Tierala, Director, Communications & IR, CapMan Plc, +358 40 571 7895

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With close to €4 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

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Egeria invests in Elastofirm to support its next growth phase

Egeria

Amsterdam – June 9th, 2021 – The shareholders of Elastofirm have agreed to sell a majority stake to investment company Egeria. Existing shareholders and management will reinvest going forward.

Elastofirm has achieved strong growth in recent years through a successful buy-and-build strategy in the rubber market. Today, Elastofirm operates seven production sites in the Netherlands and Germany. Through its operating companies, the group provides customized compounds and tailor-made products to a broad range of loyal customers operating in various industries. In 2021, Elastofirm acquired Poppe Elastomertechnik GmbH (Germany) and a majority stake in QEW Engineered Rubber (Netherlands).

The investment by Egeria provides the company with the financial and operational support to continue its growth through international expansion and further acquisitions. Elastofirm’s inorganic growth strategy is focused around acquiring specialized companies active in the European rubber and plastics market.

Sander van Alphen, partner at Egeria: “We are impressed by the growth track record of Elastofirm and its operating companies. Through a combination of entrepreneurship, in-depth technical knowledge, customer intimacy and an efficient production setup, Elastofirm has built a strong market position in a fragmented market. We have a lot of confidence in the team and are excited to be able to support them in realizing the next growth phase of the business.”

Wim Noorlander, Elastofirm: “We are proud of Elastofirm and our employees that have contributed to the success of the group. Elastofirm has strong growth ambitions and we look forward to work together with Egeria to achieve these in the coming years.”

About Elastofirm
Elastofirm group consist of operating companies active in the compounding and processing of rubber. The group operates in total five production sites in the Netherlands (Lelystad (2x), Vaassen, Vorden and Hoogezand) and two in Germany (Giessen and Gelnhaussen). The operating companies in the group are Polycomp, Flevorubber compounding, QEW Engineered Rubber, Flevorubber Extrusie, Technische Profielen Produktie and Poppe Elastomertechnik. The Elastofirm group has been built over the last decade by the current shareholders through a successful buy-and-build strategy.

About Egeria
Established in 1997, Egeria is an independent Dutch investment company focused on medium-sized enterprises. Egeria invests in healthy businesses with an enterprise value of between EUR 50 million and EUR 350 million. Egeria believes in building businesses jointly with enterprising management teams (Boldly Building Together). Egeria Private Equity Funds has interests in 12 companies in the Netherlands and Germany, while Egeria Evergreen has investments in 6 companies. Egeria’s portfolio companies generate combined revenues of more than EUR 2 billion and employ circa 12,000 people. Other activities include Egeria Real Estate Investments, Egeria Real Estate Development and Egeria Listed Investments. In 2018 Egeria launched Egeria Do, a corporate giving programme that supports projects in the world of art, culture and society, but also within its investee companies.

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Equestrian sports chain Epplejeck focuses on European growth with Mentha investment

Mentha
Expansion with new shops and online activities in multiple countries
Investor Mentha has entered into a partnership with Epplejeck, the biggest retailer in the Benelux for equestrian sports. This enables Epplejeck’s strong position to be further expanded in the Netherlands and Belgium and to other European countries by the rollout of stores and the strengthening of the company’s online activities.
Since its foundation in 2008, Epplejack has grown into the leading equestrian specialist in the Benelux with 16 superstores and a web shop with a European reach. The stores measure about 1,000 m2 and Epplejeck employs more than 300 people. The stores sell almost all supplies and accessories for both horse and rider under their own brands and external labels.
Jacqueline Freeke, founder of Epplejeck together with Adam Postema: “Things have really taken off in recent years, thanks in part to the efforts of our fantastic team. Our aim is to make all riders in Europe fans of our brands. Together with Mentha we can expand the number of stores where people are truly immersed in all things equestrian. In addition, we wish to expand our online activities to be able to offer the same experience digitally.”
Barend Rutten, partner at Mentha: “After football, equestrian sport is financially speaking the largest sport in the Netherlands, and Epplejeck plays a prominent role in this. We are impressed by what Jacqueline and Adam have achieved with their team and are excited to continue building together and provide the ultimate all-round shopping experience to ever more riders.”

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Icario expands consumer engagement and health action platform with acquisition of ChipRewards

CVC Capital Partners

Clients can manage full member lifecycle strategies while leveraging Icario Insights and Connect to execute customised engagement initiatives

Icario, the healthcare industry’s largest health action company, today announced it has acquired ChipRewards, a leading SaaS platform used by health plans and employers to configure and manage consumer engagement programs. With this acquisition, Icario adds self-service configurability and management capabilities that empower health plan teams to customise their approaches to engagement across enrollment, targeted health actions, retention, satisfaction and overall experience initiatives.

“We are thrilled to welcome the team that built the ChipRewards platform to Icario,” said Steve Wigginton, CEO of Icario. “They have worked in close collaboration with the leading health plans in the country to build a high level of configurability and a superior consumer experience for their clients, and we look forward to extending the platform with Icario’s Insight, Connect and Personalization Engines.”

“Our business has always been about helping health plans and employers grow and sustain relationships with members, and we can now do that even more effectively under the Icario umbrella,” said Trey Hamer, Co-founder and CTO of ChipRewards, who will assume the role of President, ChipRewards. “We look forward to the dual win of helping Icario customers benefit from our existing capabilities while also opening up the vast benefits of the Icario platform to our current customer base.”

ChipRewards offers a fully configurable, enterprise-wide incentive and engagement platform, including targeted rewards and incentives, that provides a flexible solution for health plans. The platform’s agility enables health plans to dynamically configure an unlimited number of health action engagement programs across highly diverse populations. The SaaS platform includes seamless integration of a variety of rewards and incentives options, portal and app integration. Designed for a simple and efficient end-user implementation experience, the HITRUST compliant technology enables non-technical launch and management by diverse end users across customer support, sales, client services, brokers, and health plan quality and growth leaders.

The acquisition comes as CVC Capital Partners (“CVC”), a leading global private equity firm, has completed its acquisition of a majority interest in Icario through its CVC Growth Partners II fund. That announcement was first revealed in May.

“When we announced our majority investment in Icario, we were excited to support its organic and inorganic growth ambitions based on its business roadmap,” said Aaron Dupuis, Partner at CVC. “This strategic acquisition is aligned with our vision of establishing Icario as the leading platform for driving health plan performance through personalisation at scale.”

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Alro Group is taking an important step in its rapid growth as an e-mobility surface treatment specialist

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GIMV
Gimv makes an additional investment in Alro Group following an important step in the company’s evolution: Alro Group has concluded a strategic partnership with IPC, the German specialist in fire-resistant coatings. In collaboration with IPC, Alro Group will apply fire-resistant coatings in electric vehicles (‘EVs’). With this, Alro Group is responding to the new e-models that many car brands are launching and to the challenges that the fire safety of batteries entails.

The electrification of the vehicles on our roads is gathering pace. With a concern for greater sustainability and driven by climate standards and emerging legislation, many car brands are rolling out their e-models more quickly. An increasing pain point for electric cars is the fire safety of batteries. Lithium-ion battery cells can overheat, which in a chain reaction (‘thermal runaway’) can lead to a rapid and life-threatening fire.

It is precisely this risk to which IPC’s innovative technology provides an answer. Responding to the rapid arrival of electric cars and stricter fire safety regulations, IPC has developed a new solution for coating EV battery housings. IPC’s unique fireproof coating outperforms competing technologies and has generated interest among electric vehicle manufacturers worldwide. Where IPC has in-house expertise in fire-resistant coatings, Alro Group specialises in the professional application of coatings on a large industrial scale, including for demanding automotive industry customers. The cooperation and complementarity of Alro Group and IPC create a promising future.

Christophe Van Quickenborne, Partner at Gimv, explains: “In the past year, Alro Group has taken some very attractive steps in the functional coating of EV parts. In addition to the Audi e-Tron, Alro now also provides the functional surface treatment of critical parts of Volvo and Porsche electric powertrains. IPC’s innovative fire protection coating is a particularly attractive additional product that will enable Alro Group to accelerate its strong growth in the EV segment. We are of course also very pleased to be able to contribute in this way to the further and safer greening of the world’s vehicle fleet.”

For more information, we refer to the attached press release of Alro and IPC.

Read the full press release:

EnglishFrenchDutchGerman

Gimv
Karel Oomsstraat 37, 2018 Antwerpen, Belgium
www.gimv.com

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EQT introduces longer-hold investment strategy – announces first investment in Anticimex

eqt
  • Leading global pest control specialist Anticimex becomes the first investment by EQT’s longer-hold strategy with impact at the core
  • The investment in Anticimex is made alongside long-term investors such as Melker Schörling AB (who will be the second largest shareholder), GIC, AMF, Interogo Holding Long-Term Equity and Alecta
  • Natural next step on EQT’s overall strategic development – EQT’s Private Capital business segment adds longer-hold impact at scale strategy to its palette of investment strategies

Building on three decades of future-proofing businesses, EQT is today proud to announce the acquisition of leading global pest control specialist Anticimex which becomes the first investment of EQT’s new purpose-driven strategy with longer-term investments and impact at its core. The transaction, where the selling party is the EQT VI fund, has an enterprise value of SEK 60 billion and the investment is made together with several long-term investors, such as Melker Schörling AB (MSAB), who will be the second largest shareholder, GIC, AMF, Interogo Holding Long-Term Equity and Alecta.

Per Franzén, Partner and Head of Private Capital’s Advisory Teams, said, “EQT has always been a thematic-driven investor. In order to best catch the opportunities that today’s global challenges bring, we are introducing a new longer-hold strategy. Having a positive impact on societal and environmental problems takes huge investments, real commitment, and time. To meet these challenges, we are introducing a longer-hold strategy to capture the largest business opportunity of our time, spotting investment opportunities that will reshape the future. This is also a natural development of EQT’s Private Capital platform – our digital focus, with EQT Ventures, Motherbrain and EQT Growth, is now complemented by a longer-hold strategy with impact at the core which is the next step on our sustainability journey.”

Andreas Aschenbrenner, Partner within EQT Private Equity’s Advisory Team, said, “Pest control is vital for both industries and society by reducing pest-borne diseases and food waste. Anticimex is a digital leader in the pest control industry with its SMART technology, driving change towards pesticide-free solutions and increasing efficiency in preventing infestations – together with Jarl and his team, the plan is to further accelerate the roll-out of the SMART solution, over time contributing to a cleaner and healthier world. As such, we believe Anticimex is a perfect example of a company that long-term can reshape an industry and have a substantial positive impact.”

Jarl Dahlfors, CEO at Anticimex, said, “After nine intense years of transformation, with expansion across Europe, North- & South America and APAC, we are thrilled to embark on the next phase of Anticimex’ journey. Together with EQT and the significant investment step-up from MSAB as well as the support from other strong partners like GIC, AMF, Interogo Holding Long-Term Equity, and Alecta, we will be in a strong position to capitalize on the great opportunities ahead.”

Gun Nilsson, CEO at MSAB, said, “MSAB is an active owner, like EQT, with a strong track record in supporting businesses on growth journeys. We share a Nordic heritage and a global mindset and have well-grounded values and a deeply rooted culture. Together, we are natural partners to support Anticimex on this journey. Long-term, we have a firm ambition to remain a major shareholder in Anticimex in line with our established model for industrial holdings.”

Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC, said, “We are pleased to partner with EQT, our longstanding partner, on this investment in Anticimex. The company has been generating strong revenue growth with its local branch-level leadership in every market they operate in, coupled with achieving global scale through acquisitions. In addition, Anticimex utilizes its digital SMART solution of accurate and fast monitoring sensors as well as environmentally-friendly, non-toxic products to be a leading sustainable pest prevention operator. As a long-term investor, we believe Anticimex will bring about positive impact such as keeping societies healthy, reducing societal costs such as food wastage and preventing hazardous events.”

Anders Oscarsson, Head of Equity at AMF, said, “This form of long-term investments, with clear impact objectives, is central to how AMF as an investor aims to create returns to our clients. We look forward to continuing to be part of the Anticimex digital and sustainability story, it is an amazing company with a great potential to further disrupt the entire pest-control industry but now on a truly global scale.”

The transaction is expected to close in Q4 2021.

Contact
EQT Press Office, press@eqtpartners.com

About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. Uniquely, EQT is the only large private markets firm in the world with investment strategies covering all phases of a business’ development, from start-up to maturity. Including Exeter, EQT today has more than EUR 67 billion in assets under management across 26 active funds within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 24 countries across Europe, Asia-Pacific and the Americas and has more than 975 employees.

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

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Market Wagon Announces Series A

New Stack Ventures

We are proud to announce that Market Wagon has secured a $5M investment led by our venture partner, Hyde Park Venture Partners.

This investment will help Market Wagon expand to more than 50 markets by the end of the year.

“Market Wagon’s business bringing regionally farmed foods and goods to meet consumers growing appetite for local fare fits right into our logistics investing experience and our love for food tech,” said Guy Turner, managing partner at Hyde Park Venture Partners. “We are excited to partner with the Market Wagon team and support their vision, and we love being customers too.”

Congratulations Market Wagon!

Quotes taken from Inside Indiana Business – see full article here.

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Mentha invests in Dutch specialist in sustainable packaging Multitubes Group

Mentha

Mentha has entered into a partnership with Multitubes Group to enable further growth. Multitubes was founded in 1999 by the Rensen family and has since grown into a specialist in sustainable packaging with customers throughout Europe. The company was the first in the world to launch a negative CO2 emission tube onto the market made from sugar cane. In addition, all tubes produced by the Multitubes Group are fully recyclable. The investment supports organic growth and paves the way for strategic acquisitions.

Multitubes offers a full range of packaging for cosmetics, food, pharmaceuticals and industrial products with its two factories and various sales offices. Flexibility, innovation, sustainability, and quality form the basis for the company which currently employs about 135 people. Multitubes focuses on custom tubes, in addition to standard sizes, and therefore has the capacity to make and deliver almost every conceivable tube packaging including a range of prints and labels.

Rob Rensen, Managing Director of Multitubes: “Our company has grown rapidly in recent years, which is down to the teamwork, dedication and motivation of everyone who works here. With Mentha as a financial partner, this growth can be sustained, and we have more clout to make a sustainable difference in packaging internationally.”

Mentha chose to take a stake in Multitubes because of the company’s innovation efforts, the importance placed on sustainability, as well as the entrepreneurial character of the founders. The focus in the coming period will be on growth, including growth through acquisitions, and the joint development of the most innovative and qualitative packaging for the various sectors served by Multitubes.

Mark van Ingen, partner at Mentha: “Multitubes originated from the drive and pioneering mentality of the Rensen family. In the past 21 years they have managed to turn it into a very mature company. The culture of Multitubes and the DNA of the founders is very much in line with that of Mentha; we speak the same language and are clearly complementary to each other. The initiatives taken on the sustainability of plastics also appeal to us, and together we will work hard to remain at the forefront of the packaging industry.”

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Blackstone, Carlyle and Hellman & Friedman to Invest in Medline

Carlyle

Partnership to Accelerate Medline’s Growth and International Expansion

Northfield, Illinois – June 5, 2021 – Medline Industries, Inc., the nation’s largest privately held manufacturer and distributor of healthcare supplies with 2020 revenue of $17.5 billion, today announced that it has entered into a definitive agreement through which it will receive a majority investment from a partnership comprised of funds managed by Blackstone, Carlyle and Hellman & Friedman. Following the close of the transaction, Medline will remain a privately held, family-led company.

Medline will continue to be led by the Mills family, who will remain the largest single shareholder. The entire senior management team will stay in place. The company plans to use the new resources from the partnership to expand its product offerings, accelerate international expansion and continue to make new infrastructure investments to strengthen its global supply chain.

“Making healthcare run better has been our focus for decades. This investment from some of the world’s most experienced and successful private investment firms will enable us to accelerate that strategy while preserving the family-led culture that is core to our success,” said Charlie Mills, Chief Executive Officer of Medline.

Medline partners with healthcare providers around the world, delivering products and solutions that reduce costs, increase supply chain efficiency, and improve the quality of care. The breadth of the company’s product portfolio and its dedication to customer service, responsiveness, and partnership provide significant value for its customers.

Joe Baratta, Global Head of Private Equity at Blackstone, said: “The Mills family has built an exceptional business, and we are proud to partner with them and Medline’s management to support the company’s continued strong growth. Large corporate partnerships with family-led companies are an area where we have deep experience and we look forward to investing in Medline’s further expansion.”

Steve Wise, Carlyle’s Global Head of Healthcare, said: “We are excited to partner with Medline’s impressive management team to accelerate growth through continued execution, innovation, and investment. With a deep commitment to sustainable value creation, we look forward to leveraging our combined operational capabilities, expansive healthcare network and capital to support organic and inorganic growth initiatives for the Company.”

Allen Thorpe, Partner at Hellman & Friedman said: “Medline is known for its unwavering commitment to its customers, providing high-quality medical products that are used to treat patients every day. We are excited to support that commitment and partner with Medline to continue bringing the broadest and deepest capabilities to the healthcare industry.”

GIC, Singapore’s sovereign wealth fund, is also investing as part of the partnership.

Transaction Details

The investment is expected to be completed in late 2021 and is subject to regulatory approvals and customary closing conditions.

Goldman Sachs & Co. LLC acted as lead financial advisor, BDT & Company, LLC acted as financial advisor and Wachtell, Lipton, Rosen & Katz acted as legal advisor to Medline. BoA Securities, Inc., J.P. Morgan, Barclays, Morgan Stanley, and Centerview Partners are acting as financial advisors to Blackstone, Carlyle, and Hellman & Friedman. Simpson Thacher & Bartlett LLP acted as legal advisor to Blackstone, Carlyle, and Hellman & Friedman.

About Medline Industries

Medline is a healthcare company: a manufacturer, distributor and solutions provider focused on improving the overall operating performance of healthcare. Medline works with both the country’s largest healthcare systems and independent facilities across the continuum of care to provide the clinical and supply chain resources required for long-term financial viability in delivering high quality care. With the size of one of the country’s largest companies and the agility of a family-owned business, Medline is able to invest in its customers for the long-term and rapidly respond with customized solutions. Headquartered in Northfield, Ill. Medline has 28,000+ employees worldwide and does business in more than 110+ countries. Learn more about Medline at www.medline.com.

About Blackstone

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $649 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

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 Investment Solutions. With $260 billion of assets under management as of March 31, 2021, 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 1,800 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

About Hellman & Friedman

Hellman & Friedman is a preeminent global private equity firm with a distinctive investment approach focused on large-scale equity investments in high quality, growth businesses. H&F seeks to partner with world-class management teams where its deep sector expertise, long-term orientation and collaborative partnership approach enable companies to flourish. H&F targets outstanding businesses in select sectors including healthcare, software & technology, financial services, consumer & retail, and other business services.  The firm is currently investing its tenth fund, with over $23 billion of committed capital, and has over $70 billion in assets under management as of March 31, 2021. Learn more about H&F’s defining investment philosophy and approach to sustainable outcomes at www.hf.com.

Media Contacts

For Medline Industries, Inc.:
Blair Klein
+1-847-643-3308
BKlein@medline.com

For Blackstone:
Matt Anderson
+1-518-248-7310
Matthew.Anderson@blackstone.com    

For Carlyle:
Brittany Berliner
+1-212-813-4839
Brittany.Berliner@carlyle.com

For Hellman & Friedman:
Dan Abernethy
+1-646-238-3902
Dan.Abernethy@fgh.com

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Element Logic announces partnership with Castik Capital

Castik Capital

Funds managed by Castik Capital S.à r.l. (“Castik”) have entered into an agreement to acquire a majority stake in Element Logic, in partnership with its co-founder and CEO Dag-Adler Blakseth, co-founder Kjell Blakseth and the broader management team. Castik will jointly own the company alongside Element Logic’s founders, management team and employees.

Element Logic, headquartered in Kløfta, Norway, is a specialized integrator for automated warehouse solutions centred around the AutoStore® system. Founded in 1985, the company now employs 170 specialists across Europe who design, implement, deliver and service a wide range of automated and static warehouse automation solutions for customers in a range of industries across Europe, complemented by proprietary software and technology. Not only did Element Logic deliver the world’s first ten AutoStore® installations, but they have also implemented more AutoStore® solutions in 2020 than any other competitor worldwide. After delivering organic revenue growth at a c. 50% CAGR since 2014, Element Logic today has a leading market position in the Nordics and across Europe.

Element Logic’s focus on being a pure-play AutoStore® system provider has made it a trusted one-stop shop for warehouse automation solutions in Europe, underpinned by expertise and technology. Castik aims to further support Element Logic with its rapid organic expansion across Europe and to explore further avenues to expand its service and software capabilities, partly through selective M&A.

“We are thrilled to have Castik on board as our partner of choice with a great fit to Element Logic. Together we plan to continue our growth journey, while we retain the Element Way and the company’s unique culture, as Element Logic truly is a people business. There are an incredible number of exciting opportunities ahead of us that open up further when we add Castik’s support together with our competence, experience and ambitions”, says Dag-Adler Blakseth, co-founder and CEO of Element Logic.

“We are very excited to have the opportunity to partner with Dag-Adler Blakseth and the entire Element Logic team, and to support the company in its continued growth story. The company has grown tremendously over the last years in a market for warehouse automation that is still in its infancy,” Michael Phillips, Partner at Castik Capital, says.

Element Logic and the sellers were advised by Carnegie, CLP, Bain and PwC. Castik was advised by Skadden, Arntzen de Besche, Kearney, PwC and GCA Altium. Ares provided financing for Castik.

About Element Logic

For over 30 years Element Logic has been optimizing warehouse performance. In 2020, we installed more AutoStore® solutions than any other company in the world and we continue to create smart solutions to help warehouses deal with their customer’s increasing demand for fast deliveries. Our robotic solutions, software and consulting help businesses improve their value chains and to be more profitable. We optimize warehouses of all sizes in a wide range of industries including electronic components, parts distribution, consumer electronics, 3PL, pharmaceuticals, apparel, sports equipment, and more.

As the original AutoStore® partner, we have a wealth of experience designing, delivering, and installing tailormade solutions that improve customers workflow.

Element Logic has more than 170 employees in Europe and had a turnover of €100 million in 2020. Our headquarter is in Norway, with subsidiaries all over Europe.

For more information visit www.elementlogic.net.

About Castik Capital

Castik Capital S.à r.l (“Castik”) manages investments in private equity. Castik is a European multi-strategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with founders and management teams. Founded in 2014, Castik is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik is Castik Capital Partners GmbH, based in Munich. Investments are made by the Luxembourg-based EPIC II Fund.

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