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ABN AMRO and Motive Partners form strategic partnership

Motive Partners

ABN AMRO Bank NV today announced its strategic partnership with Motive Partners, a leading international specialist private equity firm focusing on venture, growth equity and buyout investments in technology-enabled financial and business services.

AMSTERDAM–(BUSINESS WIRE)–The move demonstrates a joint commitment from two sizable financial technology investors to support continued innovation and growth in the evolving fintech landscape. Motive Ventures, the early-stage venture arm of Motive Partners, will manage the ABN AMRO Ventures Fund (AAV), consisting of 15 early-stage companies. In addition, ABN AMRO will become a significant investor in Motive-managed vehicles.

“Banking for better, for generations to come”

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With funding in the financial services industry declining by 70% between 2021 and 2022, and numerous venture capitalists reducing their investment programmes, Motive Partners and ABN AMRO are charting a new course. Their partnership unites two leading venture platforms, each with decades of fintech expertise and a dedication to innovation in both financial services and venture capital. Their goal is to strengthen the fintech sector and boost innovation by bringing Motive Partners’ ecosystem and experts to the AAV portfolio and ABN AMRO’s broader network. Motive Ventures’ portfolio consists of 21 investments in seed and series A stage companies, spanning the United States and Europe. The combined AAV-Motive Ventures portfolio will thus number 36 companies.

The new partnership has been formed on two pillars. First, Motive Ventures will assume the management of AAV with €150 million in assets under management, leveraging Motive Partners’ breadth and depth of expertise. To ensure seamless continuity of AAV’s operations and to strengthen the capabilities at Motive Ventures, Hugo Bongers, Managing Director and Head of ABN AMRO Ventures, and Tim Wanders, Executive Director at ABN AMRO, are joining Motive Ventures as Partner and Principal, respectively.

Second, ABN AMRO will become a significant investor in Motive-managed vehicles. This investment underscores ABN AMRO’s appetite and continued commitment to exploring new frontiers in fintech innovation in partnership with Motive Partners.

Edwin van Bommel, Chief Strategy & Innovation Officer at ABN AMRO commented: “Our collaboration with Motive Ventures is a major milestone for ABN AMRO. We believe that joining forces with a definitive leader in the rapidly evolving fintech landscape will not only drive innovation but also enhance our competitive edge. This partnership will strongly support our strategic ambition of being a personal bank in the digital age for our customers.”

Ramin Niroumand, Partner at Motive Partners and Head of Motive Ventures commented: “ABN AMRO has long been a leader among financial institutions in European fintech investing. With portfolio companies like Tink and Penta, they have already demonstrated great investments and exits, and a deep understanding of how to deliver strategic value to the global ecosystem. We have already worked together on several co-investments, which is why we are so happy that Hugo and Tim are joining the Motive Ventures team.”

The strategic partnership is expected to close in Q4 2023, with Hugo Bongers and Tim Wanders joining the Motive team before the end of the year.

About ABN AMRO

ABN AMRO is a Northwest European bank for retail, corporate and private banking clients, headquartered in Amsterdam. For our clients, we aim to be a personal bank in the digital age. A bank that shapes and enables the transition to a sustainable society, together with our clients and partners. Our efforts are based on our purpose: “Banking for better, for generations to come”. Our focus is on Northwest Europe. With more than 20,000 colleagues, of which approximately 5,000 work outside the Netherlands, we serve more than 5 million clients.

About Motive Partners

Motive Partners is a specialist private equity firm with offices in New York City, London and Berlin, focusing on venture, growth equity and buyout investments in technology-enabled financial and business services companies based in North America and Europe, and serving five primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment Management and Insurance. Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies. For more information, please visit www.motivepartners.com.

About Motive Ventures

Motive Ventures is the early-stage investment arm of Motive Partners, focused on pre-seed through to Series A financial technology investments in North America and Europe. Motive Ventures is backed by globally recognized tech entrepreneurs, industry veterans as well as leading institutions and venture investors. Today the team consists of 13 employees across Berlin, London and New York.

Contacts

ABN Amro Press Office
pressrelations@nl.abnamro.com

Motive Partners
Sam Tidswell-Norrish, Managing Director
sam@motivepartners.com

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Levine Leichtman Capital Partners Portfolio Company Technical Safety Services Acquires Controlled Evironment Management

Levine Leichtman

Technical Safety Services (“TSS” or the “Company”), a portfolio company of Levine Leichtman Capital Partners (“LLCP”), announced that it has acquired Controlled Environment Management, LLC (“CEM”). Based in Gilbert, Arizona, CEM is a provider of controlled environment testing, validation, certification, and calibration services required in high-performance, regulated pharmaceutical, biotechnology, and healthcare settings.

TSS is a leading provider of testing, inspection, certification, and calibration (“TICC”) services to customers in the pharmaceutical, biotechnology, healthcare, and other life sciences end markets. TSS provides on-site technical services mandated to occur at regular intervals to ensure all clients remain in compliance with regulatory standards. The Company’s services are performed across the lifecycle of a customer facility and ensure the compliant operation of controlled environments such as clean rooms, bio-safety cabinets, medical gas systems, high-purity water systems, laboratory equipment, and more. TSS was founded in 1970 and is headquartered in La Jolla, California.

Marc Boreham, President and CEO of TSS, commented, “We are delighted to welcome CEM to the TSS platform. The CEM team brings significant expertise and dedication to high-quality service, which will further enhance TSS’s support for our valued clients across key strategic capabilities and geographies.”

Matthew Rich, Partner at LLCP, stated, “We are pleased to demonstrate our continued support for the TSS team in this acquisition, which further expands the Company’s geographic presence within the Southwest. We look forward to the continued execution of TSS’s growth and value creation plan through additional strategic M&A and associated growth initiatives.”

The acquisition of CEM is TSS’s seventh since being acquired by LLCP in 2022.

TSS is a portfolio company of Levine Leichtman Capital Partners VI, L.P.

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£8.3mn series B investment round for TravelLocal

Gresham House

Gresham House Ventures participates in £8.3mn series B fundraising round for existing portfolio business TravelLocal, a global tailor-made holidays platform, alongside Puma Private Equity and Active Partners, helping to accelerate the company’s international growth. 

TravelLocal is a global brand and receives bookings from clients worldwide, as a managed marketplace. It is growing rapidly, as travellers demand genuinely authentic, more sustainable holidays and prioritise spending on experiences, annual bookings are over USD 50mn and are growing over 100% year on year. The new additional funding will support the company’s international growth, including investment in its managed marketplace platform and further brand marketing (including broadcasting its latest TV advert “Global Travel, Local Experts”).

TravelLocal’s innovative model is revolutionising tailor-made holidays, by connecting its customers directly with handpicked, trusted local travel experts based in their destination – who know their country better than anyone. This combines the benefits of human advice from vetted local experts, the convenience of being able to book online and full consumer financial protection (through ABTA and ATOL in the UK). Since the business was founded in 2016, TravelLocal has helped more than 70,000 customers create the perfect trip.

The TravelLocal platform enables bookings with over 500 individual local travel experts around the world, who create truly personalised itineraries directly with and for the client. They work in 271 curated partner companies and are the ‘hidden stars’ of the legacy travel industry, to whom clients now have direct access by booking with TravelLocal. They have extensive experience of advising international clients. Many travellers care deeply about making their holidays more responsible and sustainable, and TravelLocal’s approach helps to fulfil this, by enabling direct access. By dealing directly with experts in locally incorporated companies, who know and care passionately about their communities and ecosystems, more client spend remains in the local economy of the destination.

This Series B funding round follows the highly successful merger in July 2021 of TravelLocal (UK) and Trip.me (Germany), both now fully integrated under the TravelLocal brand. TravelLocal has offices in Bristol and Berlin with colleagues also working remotely across the world. This follow-on is Gresham House Venture’s third investment in the company, with Active Partners, following the Series A and the merger in 2021.

Tom Makey, Investment Director at Gresham House Ventures said:

“This marks another important milestone for the talented TravelLocal team. The business performed strongly through the pandemic thanks to its innovative, agile approach, and it has continued this success ever since, adapting to the evolving dynamics of the travel sector and the demand from customers for a more authentic and responsible experience. We look forward to supporting the business in its next phase of growth.”

Tom Stapleton, CEO at TravelLocal said:

“TravelLocal has performed very strongly again coming out of the pandemic as people travel extensively – and increasingly with a strong desire to do so in a more sustainable, meaningful way, that supports local people and economies. Our unique business model enables everyone to do just that. This funding round reflects the excellent growth opportunity we now have, and the first class team we have built to tackle it.”

 

Media enquiries

KL Communications

gh@kl-communications.com

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Azurity Pharmaceuticals acquires KKR-backed Slayback Pharma

KKR

WOBURN, MA – Azurity Pharmaceuticals, Inc. (“Azurity”) is pleased to announce the closing of its acquisition of Slayback Pharma LLC (“Slayback”) today from existing investors including KKR, a leading global investment firm, and Everstone Capital. Slayback is now a wholly-owned subsidiary of Azurity.

The acquisition brings together companies with complementary strengths, enhancing Azurity’s ability to realize its purpose of Serving Overlooked Patients. The combined development portfolios are expected to yield a significant number of new medicine launches over the coming years.

Azurity leverages its integrated capabilities and vast partner network to continually expand its broad commercial product portfolio and robust pipeline. The company’s patient-centric approach is evident in its diverse array of products catering to various medical needs, including cardiovascular, central nervous system, endocrinological, gastrointestinal, anti-infectives and oncology. Many of Azurity’s medicines are dose-form innovations for patients with needs that are not met by other commercially available therapies.

“I am delighted to announce this combination and the increased potential it brings to do more for overlooked patients,” said Richard Blackburn, CEO of Azurity. “The complementary expertise of the two companies in developing innovative dose forms will result in a strong pipeline of new medicines to meet the needs of patients. We will bring the commercial expertise of Azurity to Slayback’s pipeline and look forward to introducing an even wider range of dose-forms and formulations to meet a broader set of patient needs.”

“The combination of Slayback and Azurity is a union of highly complementary capabilities: Azurity’s innovative commercial acumen and Slayback’s exceptional R&D platform. I am proud of Slayback’s team, our track record of developing complex products with unmatched speed at scale, and the rich history we have built together. I am delighted to join forces with Azurity to help forge a combined entity that is truly one of a kind” added Ajay Singh, Founder and CEO of Slayback.

“We are pleased to add Slayback’s complementary product pipeline and robust R&D capabilities to Azurity. The acquisition of Slayback accelerates Azurity’s strategic growth plan and enhances our ability to launch multiple innovative new drug products into the market every year to serve overlooked patients,” said Jeff Edwards, Partner at QHP Capital, the majority owner of Azurity.

“We have enjoyed working closely with Ajay and Slayback’s impressive management team to scale and support the platform as a leading provider of complex pharmaceuticals,” said Ali Satvat, Partner and Global Head of Health Care Strategic Growth at KKR. “Together we have established an extensive pipeline that Azurity will further build upon, helping to increase accessibility to health care for patients.”

Greenhill & Co. served as financial advisor and White & Case served as legal advisor to Azurity.  Leerink Partners served as lead financial advisor and Raymond James as co-advisor to Slayback while Kirkland & Ellis served as legal advisor to Slayback.

About Azurity Pharmaceuticals:

Azurity is a privately-held pharmaceutical company specializing in providing innovative, high-quality medicines that serve overlooked patients. Azurity supplies a large number of products to treat a wide range of medical conditions. These include cardiovascular, central nervous system, endocrine, gastro-intestinal, anti-infective and oncology medicines. Many of Azurity’s medicines are dose-form innovations for patients with needs that are not met by other available products. Azurity’s medicines have benefited millions of people. For more information, please visit www.azurity.com.

About QHP Capital:

QHP Capital is an investor in technology and services companies in the life sciences and healthcare sectors. QHP traces its heritage back to Quintiles (now IQVIA) and NovaQuest Capital Management. QHP has built an investment platform to provide strategic capital and industry expertise in partnership with strong management teams. The investment team consists of seasoned investment and operational professionals with significant investment experience and deep life science and healthcare expertise. QHP benefits from an extensive network of industry experts and relationships that assist in identifying, analyzing, and growing QHP’s portfolio companies. QHP also manages the NovaQuest Private Equity funds. For more information, please visit www.qhpcapital.com.

Contacts:

For Azurity Pharmaceuticals
Ronald L. Scarboro
rscarboro@azurity.com


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EQT Private Equity to sell LimaCorporate, one of the global leaders in joint replacement solutions

eqt

EQT Private Equity, together with its co-shareholders, to sell LimaCorporate to NYSE-listed Enovis Corporation

Under EQT Private Equity’s ownership, LimaCorporate has grown to be one of the leading European orthopaedic companies. EQT and LimaCorporate worked together to further empower surgeons with innovative orthopaedic implants that improve patient outcomes

Today, LimaCorporate’s products are sold in 49 countries across the globe with more than 130,000 implants delivered every year, with a strong focus on product innovation helping surgeons restore the “eMotion of Motion” in patients

EQT is pleased to announce that the EQT VII fund (“EQT Private Equity” or “EQT”), together with its co-shareholders, have agreed to sell LimaCorporate (the “Company”) to Enovis Corporation. With this transaction, LimaCorporate becomes part of the NYSE-listed Enovis Corporation in a strategic combination that creates a global leader in the orthopaedic industry.

Founded in 1945 by the Lualdi family and headquartered in San Daniele del Friuli, Italy, LimaCorporate is a global orthopaedic implant manufacturer with a heritage of innovation, reflected in its industry leading know-how in additive manufacturing, such as its proprietary Trabecular Titanium (“TT”) technology. The Company focuses on shoulder, knee and hip prostheses with a portfolio that includes one of the first modular shoulder systems in the world, the SMR, the Delta hip cup family, and the Physica system knee.

EQT has supported LimaCorporate in the expansion of its product portfolio primarily through in-house innovation and the advancement of its 3D printing capabilities. It has invested to solidify its core offering and increase manufacturing capacity in the face of rapidly growing demand, while further developing talent to execute on the Company’s market expansion, with accelerated global growth. In 2022, the Company reached revenues of EUR 249 million and it will continue to bring critical innovation to surgeons and patients as part of Enovis Corporation.

Matteo Thun, Partner within EQT Private Equity’s Advisory Team, said, “LimaCorporate is a true example of sophisticated engineering and technology designed to empower surgeons and to improve patients’ life. EQT is proud to have been part of the Company’s journey and I want to thank the management team and all the employees of LimaCorporate, who work enthusiastically every day to bring life-changing products to patients around the world. It is exciting to see a global player like Enovis Corporation joining forces with LimaCorporate in such a strategic combination”.

Massimo Calafiore, CEO of LimaCorporate, said, “I am really proud of what the people of LimaCorporate have achieved over the years and I thank EQT for their partnership. The combination with Enovis Corporation is a key milestone in our journey and I am looking forward to seeing the combined Group continue to develop innovative products for surgeons and patients globally”.

The transaction is subject to customary conditions and approvals and is expected to close in early 2024.

EQT has been advised by Goldman Sachs as lead financial advisor, Morgan Stanley, Mediobanca, Latham & Watkins and PwC.

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

About EQT
EQT is a purpose-driven global investment organization with EUR 224 billion in total assets under management (EUR 126 billion in fee-paying 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 LimaCorporate
LimaCorporate is a global orthopedic company, focused on digital innovation and patient-tailored hardware, which advances patient-centred care.  Its pioneering technological solutions are developed to empower surgeons, and to improve patient outcomes from joint replacement surgery.  Its primary focus is on providing reconstructive and custom-made orthopedic solutions to surgeons, enabling them to improve the quality of life of patients by restoring the joy of movement.

Headquartered in Italy, the company operates directly in over 20 countries around the world. LimaCorporate offers products ranging from large joint revision and primary implants, to complete extremities solutions, including fixation.

For additional information on the Company, please visit www.limacorporate.com

About Enovis Corporation
Enovis Corporation (NYSE: ENOV) is an innovation-driven medical technology growth company dedicated to developing clinically differentiated solutions that generate measurably better patient outcomes and transform workflows. Powered by a culture of continuous improvement, global talent and innovation, the Company’s extensive range of products, services and integrated technologies fuels active lifestyles in orthopedics and beyond. The Company’s shares of common stock are listed in the United States on the New York Stock Exchange under the symbol ENOV.

For more information about Enovis, please visit www.enovis.com

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Fibbl raises €4 million to scale XR technologies in e-commerce, bridging the gap between physical and online stores

Industriefonden

Fibbl raises €4 million to scale XR technologies in e-commerce, bridging the gap between physical and online stores 

Swedish company Fibbl, a pioneer in 3D model production and XR (extended reality) technology for e-commerce, successfully closed a €4 million investment round. The round was led by Industrifonden, with support from business angels Pontus Lindwall, Göran and Henrik Garvner and John Wattin. The new funds will be utilized to boost go-to-market efforts, further cementing Fibbl’s position as a key player in the rapidly growing market.

E-commerce enterprises face significant challenges when implementing XR experiences at scale, with complex processes that require substantial time and up-front costs. Fibbl’s technology simplifies this journey by providing brands and retailers with on-demand access to consistent and unparalleled quality of 3D models, optimized for omnipresence in XR across platforms.

“We firmly believe in a future where the online product experience exceeds that of traditional brick-and-mortar stores and are thrilled to get the support from strong investors in bringing our vision to life,” said Henrik Arlestig, co-founder and CEO of Fibbl. “With our advanced XR technology and a scalable software-as-a-service business model, we are at the forefront of transforming the e-commerce landscape.”

Through seamless plug-and-play integration and easy onboarding, brands and retailers gain immediate access to 3D content and XR technologies, facilitating rapid adoption and improved shopping experiences for their end-customers. Fibbl’s agnostic and scalable technology can adapt to emerging technologies and extend beyond their current focus on sport and fashion products to various product verticals.

Caroline Wachtmeister, at Industrifonden, commented:  “As customers increasingly demand a comprehensive understanding of the products they purchase, Fibbl’s innovative solutions are poised to play a crucial role in shaping the future of online retail for the better. We are thrilled to support Fibbl in their mission to revolutionize e-commerce through the integration of 3D and XR technologies. With an exceptional team, Fibbl is well-positioned to capitalize on the immense potential of the market.”

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GBA Group expands range of toxicology services

Fields Group

Hamburg/Roßdorf, 20. September 2023. GBA Group is expanding its range of toxicology services for customers in the chemical, medical device and pharmaceutical industries with the acquisition of ICCR-Roßdorf GmbH (ICCR-Roßdorf) from investor FIELDS Group. This acquisition underlines GBA Group’s ambition to position itself broadly as an international life science service provider through targeted portfolio expansions and investment in leading CROs.

Today’s ICCR-Roßdorf GmbH (Institute for Competence Contract Research – Roßdorf) was founded in 1986 and has its headquarters with almost 100 employees in Roßdorf near Darmstadt. The focus of ICCR-Rossdorf is the investigation of the genotoxic potential of pharmaceuticals, agrochemicals, cosmetics and chemicals. For customers in the field of medical devices, the service portfolio is supplemented with modified protocols for the investigation of the effects of extracts.

Dr. Sabine Gorynia, Executive Vice President Pharma & Medical Devices, GBA Group, underlines the synergies resulting from the merger: “With more than 30 years of experience, one of the world’s leading Gentox providers enriches the portfolio and business network of GBA Group. We are pleased to further strengthen our growth in the preclinical area together with our colleagues from ICCR-Roßdorf and to be able to offer our national and international customers another important component in an even broader service portfolio.”

Dr. Markus Schulz, Managing Director of ICCR: “The constructive and open discussion in the run-up to the transaction showed that the closer cooperation between GBA Group and ICCR-Roßdorf offers great opportunities. This applies both to the broad use of the solutions and expertise we have developed in the toxicology field within the GBA Group and to joint projects in the development of innovative assays in new areas of application.”

 

About GBA Group

GBA Group is an international life science service company with more than 2,000 employees in 8 countries and a broad range of analytical, logistical and specialist services in the fields of pharmaceuticals, medical products, cosmetics, chemicals, food, drinking water and the environmental sustainability. The range of services offered by the GBA Group includes laboratory analytics, data management, special logistical services for clinical trials, as well as consulting services for private companies and public institutions in connection with their activities in the fields of research, product development, market development, and consumer protection. Through its work, the GBA Group makes a sustainable contribution to public health, the environment and society as a whole.

About FIELDS Group

FIELDS Group is an entrepreneurial, hands-on investor focused on developing businesses with potential. FIELDS invests in companies headquartered in the Benelux and DACH regions and achieves fundamental transformations with its team.

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LMtec Digital Solutions Joins Forces with Emixa

Holland Capital

Amsterdam, 18 September 203 –Emixa, the leading SAP/Siemens/Mendix technology partner, is investing in LMtec Digital Solutions, with support from its majority shareholder Holland Capital. With this partnership, Emixa expands its presence into the DACH region and further enhances its product and service offerings, accelerating the digital transformation of its international Industry 4.0 clients.

LMtec Digital Solutions is a leading partner of Siemens Digital Industries Software with offices in Germany and Switzerland, specialized in providing PLM (Product Lifecycle Management) solutions, including maintenance, technical support, and consultancy. This partnership contributes to their vision of playing a significant role in the digital transformation of the manufacturing industry, also known as ‘Industry 4.0’, through technologies such as Siemens, SAP, and Mendix. Furthermore, this collaboration offers its employees opportunities for international development within the wide range of services, technologies, and countries where the group operates.

Growth through buy-and-build

The acquisition of LMtec Digital Solutions is the next step in the buy-and-build strategy, executed with the support of Holland Capital. Including LMtec, Emixa now employs over 520 professionals, focusing on product lifecycle and asset management, IT architecture, low-code applications, system integrations, and process optimization, primarily targeting the manufacturing industry. The group aspires to become the leading player in Western Europe and has now expanded its operations to the DACH region, in addition to the Benelux and the United Kingdom.

Peter-Jan Simons, CEO of Emixa, commented, “LMtec is a strategic addition to our group, bringing high-level expertise in digital transformation to the modern industry. I am very excited about this addition, as together with LMtec, we can now better serve our customers in the DACH, UK, and Benelux regions within the technology triangle of SAP-Siemens-Mendix. Additionally, our consultants will have more international career opportunities. LMtec’s Siemens PLM expertise will boost our Siemens activities in Europe and elevate our partnership with Siemens to a higher level.”

Peter Wassmer, Managing Partner of LMtec Digital Solutions, stated, “Siemens recognizes Emixa as a leading specialist capable of delivering solutions based on SAP/Siemens/Mendix technology. Joining forces with Emixa is the perfect combination to realize our existing vision: to act as a trusted digital coach for our clients in addressing their digital thread for product and production.”

Ewout Prins, Managing Partner of Holland Capital, added, “The acquisition of LMtec is the next significant step in Emixa’s buy-and-build strategy. In addition to the Benelux and the UK, the group is now strongly represented in the DACH region. We are proud that our teams in Düsseldorf and Amsterdam have contributed to this acquisition.”

About LMtec Digital Solutions

LMtec, founded in 2014, provides digital transformation consultancy, architecture, and implementation of PLM solutions, licenses, and IT services across all industrial sectors. With a team of more than 70 experts in Central Europe, its mission is to enable valued customers to innovate and bring better products and services to the market more quickly. They achieve leading innovation through in-depth industry knowledge, PLM best practices, unique processes, and technological skills. LMtec is a Smart Expert Partner of Siemens Digital Industries Software, SAP and Mendix in the DACH region.

About Emixa

Emixa offers its clients innovative, high-quality, full-service solutions in the field of digital transformation, with a special emphasis on the manufacturing industry, also known as ‘Industry 4.0,’ using Siemens (PLM), SAP (ERP), Mendix (Low Code Applications), and other leading technologies. The group operates in the Benelux, the United Kingdom, Ireland, Germany, and Switzerland. The foundation for Emixa was established in 2022 when the companies Appronto, cards PLM Solutions, Dimensys, Magnus, and OnePLM joined forces with the support of Holland Capital.

About Holland Capital

For the past 40 years, Holland Capital has responsibly and successfully invested in more than 180 Dutch SMEs. With a clear investment strategy, they are active in the attractive growth markets of Healthcare, Technology, and Food & Agri. Their experienced and committed investment team understands entrepreneurship. They aim for an open, sustainable, and professional relationship with the management teams of the companies they invest in, with the common goal of achieving growth. Holland Capital is supported by a broad network of successful entrepreneurs in Healthcare, Technology and Food & Agri. Holland Capital has offices in Amsterdam and Düsseldorf. The acquisition of LMtec represents Holland Capital’s first acquisition in Germany.

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Gimv has entered into exclusive negotiations with Crédit Mutuel Equity to sell its majority stake in Groupe Claire, a specialist in water network equipment and performance solutions.

GIMV

Topic: Divestment

After guiding the company for more than four years, marked by dynamic organic and external growth, Gimv will sell its majority stake in Groupe Claire to Crédit Mutuel Equity, alongside the management team, in order to further support the development strategy led by its Chairman Damien Verhée.

Groupe Claire is a historical leader in solutions for equipping and improving the performance of water networks, with a presence in France and Germany. Created in 2011 around the Sainte-Lizaigne brand, the group has developed and acquired complementary expertise and today brings together six recognized brands, meeting all the critical needs of water market players. By 2023, it is expected to achieve sales in excess of €80 million, and employs nearly 250 people at 6 sites, including 5 in France and one in Germany.

Since its investment at the end of 2018 as a majority shareholder, Gimv has supported Damien Verhée in further structuring the group, through key recruitments or internal reorganizations, enabling the development of synergies between the group’s entities and accelerating organic growth. The company has also invested significantly in improving and automating its industrial tools and operations, in parallel with an ambitious R&D policy. Two strategic acquisitions were made to round out the group’s offering and skills, and to structure a Smart Products division reaching critical mass. Another acquisition is currently being finalized and should be integrated into the group shortly.

With a presence in 40 countries and 9 areas of expertise, the group aims to be the benchmark partner for private and public water network operators (public utilities and water companies), offering a wide range of products (connections, metering environments) for their network construction and renovation projects, and connected solutions to improve network management and leak detection. In a context of water scarcity linked to climate change, and characterized by peaks of drought, the company activates the synergies necessary to the success of its mission, in the service of the common good and future generations: to promote access to water for all, today and tomorrow.

Under the leadership of Damien Verhée, Groupe Claire aims to pursue its growth in high-performance equipment and network performance improvement solutions, and continue its international expansion.

“I’m proud of the progress made by Groupe Claire with Gimv’s active and virtuous support. This fruitful collaboration has enabled the group to change dimensions, both in terms of organization and pace of development. Together, we were able to accelerate growth in traditional products and reinforce our strategic shift into connected products, even exceeding the objectives we had initially set ourselves with the Gimv team. With the support of a new reference shareholder, Crédit Mutuel Equity, we have acquired additional financial resources to continue supporting our customers and partners in preserving water resources“, explains Damien Verhée, Chairman of Groupe Claire.

“We are delighted to have supported Damien Verhée and his team with an ambitious strategy that has enabled Groupe Claire to further structure itself and almost double in size in just over 4 years. From the outset, we focused together with Damien on strengthening the management teams and changing the organization to develop synergies. With two strategic acquisitions, and a third in the process of being finalized, as well as major investments in R&D, Groupe Claire has been able to develop its range of innovative solutions and structure a connected products division, thus becoming a major player in water network optimization, and one of the few groups capable of offering complete solutions to its customers. These transformations defined at the time of our entry are perfectly in line with the growth projects we wish to develop within our Sustainable Cities investment platform“, concludes Nicolas de Saint Laon, Head of Gimv France.

Completion of the transaction remains subject to the recommendation of Groupe Claire’s employee representative bodies, as well as the authorization of the French Competition Authority (Autorité de la concurrence).

The financial impact of this transaction was already included in the Trading Update of September 5th. Over the entire investment period of this transaction, Gimv realizes a return in excess of the long-term portfolio return target. No further financial details will be disclosed.

 

Read the full document

Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

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Ontario Teachers’ acquires KKR’S stake in Environmental Platform Greencollar

KKR

SYDNEY & TORONTO–(BUSINESS WIRE)– Ontario Teachers’ Pension Plan (Ontario Teachers’) and KKR, a leading global investment firm today announced the signing of a definitive agreement under which Ontario Teachers’ will acquire KKR and other shareholders’ stakes in GreenCollar, a leading Australian environmental markets platform. Financial terms of the transaction were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230917665584/en/

Ontario Teachers’ first became an investor in GreenCollar in March 2022. With this latest investment, Ontario Teachers’ deepens its relationship with GreenCollar, taking on a significant majority stake in the Company, with GreenCollar CEO and Co-founder James Schultz continuing to lead the business and remaining a significant shareholder.

Ontario Teachers’ Natural Resources group, which is part of the Infrastructure and Natural Resources department, has significant experience investing in agriculture, aquaculture, timberland, and natural climate solutions, including in Australia where it has a large agriculture portfolio.

Christopher Metrakos, Senior Managing Director, Natural Resources at Ontario Teachers’, said: “We are pleased to increase our investment in GreenCollar and to continue supporting James and his team in their mission to restore and enhance natural capital in areas like biodiversity and water quality. GreenCollar is a proven leader in delivering positive environmental outcomes with market-based solutions and we are excited to continue supporting the company in its next chapter of growth in Australia and beyond. We’d like to thank the team at KKR for their support and partnership on this investment.”

James Schultz, CEO and Co-Founder of GreenCollar, added, “We look forward to our deepening relationship and collaboration with Ontario Teachers’ and tapping into their knowledge and expertise in the natural resources sector. We also want to extend our sincere gratitude to KKR for their support and commitment over past few years.”

KKR first invested in GreenCollar in 2020 as part of its Global Impact strategy, which focuses on companies that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals (SDGs). As a certified B corporation and provider of environmental initiatives that reduce the impact of climate change, GreenCollar’s core business directly contributes toward SDG 13 (Climate Action) and supports other sustainable goals, including SDG 15 (Life on Land) and SDG 14 (Life Below Water).

GreenCollar is the first Global Impact Fund investment to implement a broad-scale employee ownership plan. Once the transaction has completed, all employees at GreenCollar will share in the proceeds from the sale under a program that aims to build stronger companies and drive greater financial inclusion through employee ownership and engagement.

George Aitken, Managing Director and Head of KKR Global Impact, Asia Pacific, said, “GreenCollar is a great example of a solutions-oriented business that KKR looks to support through our Global Impact strategy, addressing some of the world’s biggest challenges such as climate change. Together with James, Ontario Teachers’ and the whole team at GreenCollar, we have made great strides in advancing GreenCollar’s important mission. It’s been a fantastic journey. We strongly believe that an ownership mentality among employees can build a stronger culture, create a more engaging experience, and ultimately drive stronger business performance – and the results speak for themselves here. Going forward, we are confident that Ontario Teachers’ and the team will continue building on that success.”

GreenCollar is the latest example of KKR’s focus on employee ownership and engagement as a key driver in building stronger companies and driving greater financial inclusion. Since 2011, KKR-backed companies have awarded billions of total value through broad-based equity programs to over 60,000 non-senior employees across more than 35 companies. In all cases, the employee ownership programs are an incremental benefit and not in exchange for benefits, wages or wage increases.

The transaction is expected to close in the fourth quarter of 2023, subject to customary regulatory approvals.

KKR was advised by Gilbert & Tobin and UBS. Ontario Teachers’ was advised by Baker & Mackenzie and EY.

About GreenCollar

GreenCollar is a profit-for-purpose organisation, and the leading environmental markets project developer and investor across the climate, water quality, biodiversity and plastics markets in Australia. Founded in 2011, GreenCollar works with landowners and managers throughout Australia to develop projects that create commercial opportunities by generating environmental credits, while caring for the environment. GreenCollar’s management team are widely recognised as thought leaders in the environmental markets industry.

About Ontario Teachers’ Pension Plan

Ontario Teachers’ is a global investor with net assets of C$249.8 billion as at June 30, 2023. We invest in more than 50 countries in a broad array of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth to deliver retirement income for 336,000 working members and pensioners.

With offices in Hong Kong, London, Mumbai, San Francisco, Singapore and Toronto, our more than 400 investment professionals bring deep expertise in industries ranging from agriculture to artificial intelligence. We are a fully funded defined benefit pension plan and have earned an annual total-fund net return of 9.4% since the plan’s founding in 1990. At Ontario Teachers’, we don’t just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we back, and the world we live in. For more information, visit otpp.com and follow us on LinkedIn.

About KKR

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

Media:

GreenCollar
Nerida Bradley
+61 414 966 129
nerida.bradley@greencollar.com.au

Ontario Teachers’
Dan Madge
+1 416 419-1437
media@otpp.com

KKR
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

Citadel-MAGNUS (for KKR Australia)
James Strong
+61 (0)448 881 174
jstrong@citadelmagnus.com

Source: KKR

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