Gimv leads CHF55.5M ($61M) Series A financing in Anjarium Biosciences to develop novel non-viral gene therapies.

GIMV

16/09/2021 – 08:00 | Portfolio

Anjarium Biosciences AG (“Anjarium”), a biotech company focused on creating and delivering a new class of non-viral gene therapies today announced the closing of a CHF55.5M ($61M) Series A financing. The round was co-led by Gimv and Abingworth, with significant participation from Omega Funds, Pfizer Ventures and Surveyor (a Citadel company).

Anjarium’s innovative approach leverages breakthrough science and expertise at the interface of genetic medicine, synthetic biology and nanoparticle engineering to rationally design and produce tissue-targeted gene therapies optimized to improve patient outcomes in a range of serious genetic diseases.

The Company’s unique platform combines proprietary DNA-based gene vectors, natural and synthetic nanoparticle delivery modalities, including its novel Hybridosome™ technology and cost efficient as well as scalable manufacturing solutions.

Anjarium’s approach has the potential to deliver more predictable, lasting, and inclusionary ways to tackle genetic disease throughout a patient’s lifetime. Further, this new class of gene therapy provides the opportunity to address key shortcomings of current viral gene therapy development by creating medicines with reduced immunogenicity, increased drug payload capacity, enhanced targeted delivery, and individualized multiple dosing.

The proceeds from the Series A financing will enable Anjarium to expand its team, develop its ground-breaking platform as well as push several therapeutic pipeline programs towards clinic.

“As the limitations of conventional viral-vector based gene therapies to deliver optimal patient outcomes become increasingly evident, a fully non-viral approach represents an exciting new therapeutic opportunity,” said Joël de Beer, Founder and CSO of Anjarium Biosciences. “Backed by this syndicate of leading investors, the Anjarium team is looking forward to continue to create and deliver solutions for patients beyond what current gene therapy platforms can address, tackling more diseases, more precisely and more personalized.

Bram Vanparys, Partner at Gimv: “We are very excited to support Anjarium as its groundbreaking science, platform and manufacturing setup holds very high potential to change the way we approach gene therapy today – with the possibility to deliver products with much better outcomes and durability.”

Thomas Harth, Senior Associate at Gimv, added: “We have been on the lookout for a novel gene therapy approach that could offer individualized multiple dosing in a safe, targeted and efficient manner and believe to have found this in Anjarium’ s innovating platform approach. As part of Gimv’ s strategy to build leading life science companies, we are very thrilled to support the Anjarium team to the next stage of development.”

For further information, we refer to the companies press release in the attachment.

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DIF Capital Partners opens New York office and bolsters team with two senior hires

DIF

Continuing to build on the firm’s strong current momentum, DIF Capital Partners (“DIF”) today announces the opening of an office in New York (US) and the hiring of two senior professionals to bolster its investment and investor relations & business development teams.

The New York office will further deepen DIF’s US presence and its team will work closely with the team in the Toronto office which was established in 2012 to cover the North American market. The opening of the New York office is the 10th local office in DIF’s global platform. Over the past ca. 10 years DIF invested more than USD 1 billion in North America across 18 different investments. The New York and Toronto offices are led by Marko Kremer, partner and Head of DIF’s North American franchise.

Kanan Joshi is joining the New York office as a Senior Director and as DIF’s first US hire. She joins the firm to spearhead its investments and strategy in the US digital infrastructure sector. She brings over 15 years of experience and has a strong track record in sourcing and investing in digital infrastructure assets. Most recently Kanan was the Head of Telecom Infrastructure at Upper Bay. Before that she worked at Digital Bridge and Deutsche Bank in New York, where she was responsible for the origination, structuring and execution of telecom investments across North America, Latin America and Asia. Kanan has deep domain expertise in data centers, cell towers and telecom industries, and enjoys long-standing relationships with established management teams. She has an MBA from the University of Chicago and a Bachelor’s degree in Economics from the University of Mumbai.

In addition, DIF’s global investor relations & business development team is announcing expansion with the hire of Luuk Veenstra, who joins the team as a Senior Director to cover a part of Europe and the Middle-East. Luuk has joined the DIF Schiphol office from M&G in New York, where he established the institutional business development & distribution business for North America. He was previously based in Amsterdam, working with the leading institutional investors in the Benelux. Before M&G, Luuk worked for PGGM’s infrastructure investment team, and for RBC and NIBC in various positions and locations globally, including 10 years in London. Luuk holds an MSc in Monetary Economics from the University of Groningen.

Wim Blaasse, Managing Partner: “Establishing an office in New York is part of our global strategy to establish a strong local presence in the key countries DIF invests in. We are also more than excited to welcome Kanan and Luuk to our firm. We are delighted to have recruited two such high calibre professionals to strengthen DIF’s investment and investor relations team. DIF expects to leverage Kanan’s unique background to help us stay at the forefront of emerging trends, partner with management teams and maximize value for our investors. Luuk will play a key role in further developing DIF’s LP network to support the growth of the DIF platform leveraging on his global distribution, business development and infrastructure investment experience.”

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with more than €9.0 billion in assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas, and Australasia through two complementary strategies:

  • Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy, and transportation sectors.

DIF Capital Partners has a team of over 160 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For further information please visit www.dif.eu

Contact:

Allard Ruijs, Partner

Email: a.ruijs@dif.eu

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Nordic Capital and Avista Capital Partners to sell Acino, a leader in advanced drug delivery technologies, to ADQ

  • Ownership period defined by Acino’s transformation and growth to become leading provider of trusted and innovative pharmaceuticals in emerging markets.

Leading healthcare investors Nordic Capital (through Nordic Capital CV1) and Avista Capital Partners (“Avista Capital”) today announced that they have entered into a definitive agreement to sell Acino (“Acino” or “the Company”), a Swiss pharmaceutical company headquartered in Zurich with a global platform that promotes affordable healthcare in key emerging markets through contract manufacturing and out-licensing.  The acquirer, ADQ is one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy.

Nordic Capital and Avista Capital Partners to sell Acino, a leader in advanced drug delivery technologies, to ADQ Image

In partnership, Avista Capital and Nordic Capital acquired Acino in 2013 via a take-private transaction from the Swiss stock exchange (SIX: ACIN).  Since that time, both investors supported Acino’s long-term growth strategy and transformed the business to become a high-growth emerging markets- focused pharmaceuticals platform with significant market presence in the Middle East, Ukraine, Russia, and South Africa. Since the 2013 investment, Acino has executed a number of strategically-important acquisitions, including PharmaStart (Ukraine), Litha Healthcare (South Africa), and the acquisition of a portfolio of select over-the-counter (OTC) and prescription pharmaceutical assets from Takeda Pharmaceuticals, which expanded Acino’s global footprint and addressable therapeutic areas.

Thomas Vetander, Partner, Nordic Capital Advisors, said, “During the ownership period, Acino executed on key growth initiatives and made significant investments to drive both organic and acquisitive growth.  This includes the acquisition of Takeda’s primary care portfolio in key emerging markets, which has positioned Acino for the next phase of its development. We thank the Acino team for their dedication during these years. It’s now time for the Company to take the next step forward together with ADQ to aim for even further growth and expansion”.

Thompson Dean, co-CEO and Managing Partner of Avista Capital, said, “We are incredibly proud that our partnership with Acino strengthened its business and expanded its client base, capabilities, and geographic footprint. During the period of our investment, Acino brought to market many innovative products that are making a real difference in the lives of patients in emerging markets around the world. We know Steffen Saltofte and his team are well-positioned to capture the significant opportunities in front of them, and we wish Acino the best as they embark on this next chapter with ADQ.”

Steffen Saltofte, CEO of Acino, concluded, “On behalf of the entire Acino team, I would like to thank Avista Capital and Nordic Capital for their partnership and invaluable contributions to our company. As owners, they have been instrumental in supporting us and fully focused on seizing the opportunities available to Acino. We look forward to building on our momentum and continuing our strong growth with our new partners at ADQ.

Fahad Al Qassim, Executive Director, Healthcare & Pharma at ADQ, commented: “We are creating a strong platform to fortify the UAE’s position as a regional hub for pharmaceutical manufacturing, commercialisation and distribution in select growth-leading markets. Our aim for ADQ’s healthcare and pharma cluster is to ensure access to affordable, essential medicines and advance new, innovative treatments that help improve people’s lives. We thank Nordic Capital and Avista Capital for their collaboration and contributions to Acino’s success. We look forward to working with Acino’s leadership team to deliver an even greater level of growth, innovation and ambition across ADQ’s pharma value chain.”

The financial terms of the transaction were not disclosed. It is subject to customary closing conditions, including regulatory approvals.

 

Media contacts:

Nordic Capital

Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

 

Avista Capital Parters

Daniel Yunger or Jon Morgan
Kekst CNC
e-mail: daniel.yunger@kekstcnc.com / jonathan.morgan@kekstcnc.com

ADQ

media@adq.ae

 

About Acino

Acino is a Swiss pharmaceutical company headquartered in Zurich, Switzerland with a clear focus on selected markets in the Middle East, Africa, Russia, the CIS Region, and Latin America. The company is backed by Nordic Capital and Avista Capital Partners. Acino delivers quality pharmaceuticals to promote affordable healthcare in these emerging markets and leverage its high-quality pharmaceutical manufacturing capabilities and network to supply leading companies through contract manufacturing and out-licensing. For more information, please visit www.acino.swiss.

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 19 billion in over 120 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland and Norway. For further information about Nordic Capital, please visit www.nordiccapital.com.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

About Avista

Founded in 2005, Avista Capital is a leading New York-based private equity firm with nearly $8 billion invested in 40 growth-oriented healthcare businesses globally. Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects – investing in the medical devices and technologies, pharmaceuticals, outsourced pharmaceutical services, healthcare technology, healthcare distribution, and consumer-driven healthcare sectors. Avista’s Operating Executives and Advisors are an integral part of the team, providing strategic insight, operational oversight and senior counsel, which helps drive growth and performance, while fostering sustainable businesses and creating long-term value for all stakeholders. For more information, visit www.avistacap.com.

About ADQ

Established in Abu Dhabi in 2018, ADQ is one of the region’s largest holding companies with direct and indirect investments in more than 90 companies locally and internationally. Both an asset owner and investor, ADQ’s broad portfolio of major enterprises span key sectors of a diversified economy, including energy and utilities, food and agriculture, healthcare and pharma, and mobility and logistics, amongst others. As a strategic partner of Abu Dhabi’s government, ADQ is committed to accelerating the transformation of the emirate into a globally competitive and knowledge-based economy.

For more information, visit adq.ae or write to media@adq.ae. You can also follow ADQ on Twitter, Instagram and LinkedIn.

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NPM Capital acquires stake in high-tech greenhouse constructor KUBO

NPM Capital

Investment company NPM Capital has acquired a minority share in KUBO, a leading developer of high-tech greenhouses for horticulture. With NPM’s support, the Dutch family owned company aims to further develop its global leadership in state-of-the-art greenhouse concepts.

KUBO has been active in the greenhouse industry for over 75 years. The company serves growers of fruits, vegetables, plants and flowers with high-tech greenhouses, including software support and services including training, data analysis, management and operational support. The company, with approximately 150 employees, has branches in Monster (the Netherlands), Montreal (Canada) and Shanghai (China). With a turnover of roughly €200 million and projects realised in 45 countries, including Canada, United States, Russia, China, Japan, South Korea, Australia and Oman, KUBO is a pioneer in its industry. The family owned company, founded in 1945, was awarded the number one position in the Hillenraad100: an annual ranking of the hundred most prominent businesses in the knowledge- and capital-intensive Dutch (greenhouse) horticultural industry cluster.

According to Wouter Kuiper, KUBO’s CEO and the third generation in the family business, further international expansion of his greenhouse company offers an enormous opportunity. “We can see that the scale at which our clients operate is getting larger and larger, and the greenhouses are not only getting bigger, but also increasingly technologically complex. In addition, a growing number of investors that are entering the market lack horticultural expertise themselves and look for turn-key solutions. With NPM Capital, we’ll have an investor on board with a long-term investment horizon, a very clear vision on our sector, and with the means and know-how to help shape our international expansion. Together, we can further professionalise our organisation, open new branches and attract the best talent. NPM can also provide support for future acquisitions. We are ready to take this leap together. In the end, it is our ambition to strengthen our leading position in the global market,” Kuiper said.

Rapidly growing demand

The decision to join forces with a long-term investor also makes sense, given that the international market for greenhouse cultivation will continue to grow rapidly the coming decades. Kuiper: “That growth will likely be around 10% per year. On every global continent, there is a rapidly growing demand for high-quality and locally produced products that are grown safely and efficiently under ideal climatological conditions, using limited energy, water and pesticides. We can do all those things at once in our high-tech greenhouses.”

Rutger Ruigrok, Managing Director of NPM Capital, is very excited about NPM’s opportunity to invest in KUBO. “We are already deeply involved in the food and agricultural supply chain, and as part of our investment focus ‘Feeding the World’, we have also been following developments in the greenhouse industry for years. KUBO is without a doubt one of the leading players in terms of technology and innovation. Given the company’s strong position as a value chain  orchestrator and its deep ties with the Dutch horticulture ecosystem, KUBO is the ideal platform for further development of high-tech greenhouses. We are also impressed by the entrepreneurial spirit and qualities of Wouter and his team. By now, we have also learned that there is a good cultural fit between KUBO and NPM. For that reason, we are looking forward to a long-term collaboration to support the jewel of the Dutch knowledge-intensive manufacturing industry in realising their ambitions.”

Advisors
NPM was advised by PWC (M&A, financial, tax), Nauta Dutilh (legal), Strategy& (commercial), MJ Hudson (ESG) and Hillenraad Partners (industry advisor). KUBO was advised by Yeald (M&A and strategic advisor) and JB Law (legal).

Both parties agreed not to disclose the financial terms of the transaction that still is subject to customary regulatory approvals.

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Healthcare innovator SDB Group unveils three new software acquisitions

Main Capital Partners

The Hague, 16 September 2021 – Healthcare innovator SDB Group acquires three Dutch software companies with the support of software investor Main Capital Partners. With the acquisitions of CPM4Care and Infent, which were signed in July and September, SDB Group takes a leading position as a provider of Business Intelligence (BI) solutions for the healthcare industry. In addition, with the acquisition of KindPlanner, SDB Group positions itself strategically in the childcare market. The expansion of SDB Group is in line with its ambition to become the market leader in software solutions for the Dutch healthcare and welfare sector. COO Vincent van Staalduinen: ‘We want to unburden the healthcare professional with innovative software, which is best-of-breed and best-of-suite.’ 

SDB Group offers a total package of cloud-based solutions for the healthcare sector, including software for HR, planning, payroll, electronic client records (ECD), e-learning and business intelligence (BI). SDB Group, which is 45 years old, strongly believes in the importance of data science to improve the healthcare sector. To this end, Reports, a provider of data analytics software, was acquired in 2019. Woerden-based CPM4Care strengthens SDB Group’s BI arsenal with various tools to improve the business performance of healthcare institutions, such as a healthcare dashboard and a budget planning tool. The Nieuwegein-based company Infent is specialised in BI-solutions for disabled care, elderly care and revalidation care, and is strong in forecasting, KPI tooling and master-data management.

Market leader in Business Intelligence for healthcare

‘By combining the strengths of these companies, we not only take a leading position in BI, but we also build on our big data and data science strategy’, explains Vincent van Staalduinen, COO of SDB Group. Jeroen van Ree, co-founder of Infent, shares this vision. ‘Together with SDB Group and CPM4Care we can develop more innovative BI-solutions for healthcare. With this, we are taking a meaningful step towards data-driven healthcare delivery.’ Marcel Brockhoff, Director of CPM4Care, emphasizes the added value for healthcare institutions. ‘The combination of CPM4Care, SDB Group and Infent allows us to help healthcare institutions even better in fulfilling the requirements in terms of reporting and make valuable healthcare data accessible.’

SDB Group positions itself in the childcare market

With the acquisition of KindPlanner, SDB Group strengthens its position within the welfare market. With the arrival of KindPlanner, SDB Group is the only player in the market that can offer a complete, integrated and user-friendly software solution to childcare companies. KindPlanner CEO Vincent van Nimwegen: ‘SDB Group had everything KindPlanner didn’t, and vice versa: they have software for payroll and business intelligence, we offer child planning and invoicing software and a portal to communicate with parents, which over 100 childcare companies are already using.’

Unburdening care professionals

SDB Group has set itself the goal of innovating the conservative healthcare sector and making it more efficient. ‘This requires deep knowledge about healthcare, which we have. With the support of Main Capital we also have the capital to grow’, says COO Vincent van Staalduinen. SDB Group aspires a best-of-breed and best-of-suite approach: the best specialized software solutions, which are seamlessly integrated. No fragmentation of services or switching between separate programs, but a time-saving total solution. The ultimate goal? ‘Care professionals are relieved of their administrative burden with innovative software, and the time saved is spent where it is needed most: on the client’, says Van Staalduinen.  

About SDB Group

SDB Group develops and supplies specialist ICT solutions for the healthcare sector. In 2018, software investor Main Capital acquired a majority stake in the company, which was then known as SDB Ayton. Since then, SDB Group has made four acquisitions, aimed at obtaining the widest possible range of software services. The first acquisition was Cormel (ECD software), followed by Reports (data analytics for the healthcare sector), The Competence Group and CSS Breda (e-learning for the healthcare sector). In 2021, KindPlanner, CPM4Care and Infent were added. Turnover tripled as a result of this buy-and-build strategy. The number of employees grew from 70 in 2018 to 220 after the latest acquisition.

About Main Capital Partners

Main Capital Partners is a leading software investor in the Benelux, Dach and the Nordics. Main has almost 20 years of experience in strengthening software companies and works closely together with management teams of its portfolio companies as a strategic partner, in order to realize sustainable growth and build excellent software groups. Main counts over 40 employees and has offices in The Hague, Stockholm and Düsseldorf. In September 2021 Main has over 1 billion euros under management and invested in more than 120 software companies. These companies create jobs for approximately 5,000 employees.

________________________________________

For more information, please contact:  

Sonja Hartgring (Manager Marketing & Communications)
+31 (0) 6 24 22 71 06
sonja@main.nl

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Trackunit and ZTR come together to connect construction

HG Capital

LONDON, ON, MINNEAPOLIS, MN and AALBORG, DK – September 15, 2021 – Trackunit and the Industrial IoT division of ZTR are uniting to better serve the growing demands of the construction industry. Putting customer needs first, the two telematics leaders are combining their considerable resources to accelerate innovation and drive digital transformation — with collaboration and service at the centre of their strategy.

“We see the industry at a pivotal tipping point when it comes to digitalization of their business and equipment – and customers are looking for a trusted partner.”

Soeren Brogaard, CEO of Trackunit

“By combining ZTR IIoT and Trackunit resources and offerings, we’re better equipped to serve the needs of the customers now and in the future.”

Sam Hassan, President & CEO of ZTR

Strengthening our core focus
As a combined entity, Trackunit and the ZTR IIoT division will extend their core focus to accelerate the digital journey in construction, Hassan continues.

“By coming together with Trackunit, we will be able to operate on a global scale to provide an expanded offering to our customers with greater efficiency and depth,” he says.

“Together, we are strengthening our core focus on enabling the ecosystem of construction. By combining our businesses, we’re elevating our technology and increasing the value customers will be able to extract from their data”, adds Soeren Brogaard.

Over the past few years, the realm of IoT and telematics possibilities has evolved from simple track and trace technology into highly actionable insights that create massive value for the stakeholders of the construction industry.

After the transaction closes the combined entity of Trackunit and ZTR will specialize in creating offerings that enhance utilization, increase fleet availability, improve safety and reduce equipment loss as major value drivers. In addition, both companies will help customers in collecting data and translating it into actionable insights – enabling customers to build smarter and more resilient machines. Furthermore, the combined entity is dedicated to helping improve daily operations for customers with increased operator safety, machine health and business optimizations.

“Our promise to the industry is based on collaboration. With a purpose as determined and noble as eliminating downtime, we know that working with our customers to apply new digital tools, is absolutely necessary. We make ourselves useful and strive to solve real problems, building everything for scale, while showing compassion for our customers, partners, competitors, and the industry at large”, says Soeren Brogaard.

Best of both worlds
At their cores, both Trackunit and ZTR are in business to build solutions that propel the construction industry forward. Trackunit recently attracted a strategic investment from Hg, a leading global software and services investor, to accelerate the company expansion, while ZTR has been transforming its business, and predicts growth through rising demand. Both Trackunit and ZTR have recently taken their first steps into, and secured traction in, the APAC region. Both businesses are ready to start the next chapter – one company focused on uniting the industry and shape it to become the most useful industry for the world. In essence, the timing couldn’t be better.

“We’re focused on delivering our existing customer commitments and creating a smooth integration. This is all about bringing people, competence, and great technology together to create a bigger impact”, says Soeren Brogaard.

A shift in the market
The construction industry is growing rapidly. It is experiencing accelerated investment in IoT capabilities with construction now one of the top five industries for investment growth. As a result, data proliferation is expected to grow exponentially as penetration of connected equipment continues beyond 2025 and machine-level data grows. Given these developments, Trackunit and ZTR IIoT are teaming up to better help their customers meet the changes that come with increasing digitalization of the construction industry.

“ZTR and Trackunit together represent an incredible next step that will enable us to become a truly global player to better serve our customers. I’m excited to roll up my sleeves and take an active part in the executive team. I look forward to venturing out on this shared mission – one in which I have no doubt Soeren Brogaard will capably lead”, says Sam Hassan.

About Trackunit ApS
Trackunit is the leading SaaS-based IoT solution and machine insights provider to the global construction equipment industry. Trackunit collects and analyzes machine data in real-time to deliver actionable, proactive and predictive information, empowering customers with data-driven foresight.

Trackunit promises to lead the technology engagement to help eliminate downtime. The ambition of this mission is not only to recover from budget and schedule overruns, but also to re-establish the reputation of the industry for innovation and leadership.

From operator safety and machine health to business optimization, Trackunit’s industry-leading telematics software, hardware and fleet management services benefit the everyday operations of the customers worldwide. Trackunit services its customers directly from its headquarters in Denmark, Chicago, IL and Singapore, as well as through subsidiaries in Sweden, Norway, France, Holland, Germany, UK, Australia and Japan. Visit trackunit.com to learn more

About ZTR
ZTR is a global technology company that develops solutions for the compact construction industry. Known as a pioneer in the development industrial Internet of Things (IoT) technology, the telematics provider delivers products and services that allow companies to remotely monitor and manage mobile as well as fixed assets.

Leading the industry in response to the need for richer machine data, greater uptime, and better insights, ZTR has designed new solutions that help Rental Companies, OEMs and end-users work together to operate smarter and easier. By listening and collaborating with its customers, ZTR takes on big industry challenges and opens pathways toward the continued digitalization of the construction sector.

ZTR Telematics Solutions easily integrate with industrial machinery and the business systems customers use every day so they can use the data to make decisions and react in real-time. With more than 450,000 telematics-enabled assets under contract, ZTR integrates with 150+ industrial Original Equipment Manufacturers, and many top rental houses worldwide.

The Rail division of ZTR will continue to operate independently. There will be no impact to its organization structure, customers or business operations as a result of this announcement. For more information visit www.ztr.com

Media contacts

Trackunit Aps
Laerke Ullerup
Chief Marketing Officer

Gasværksvej 24, 4.sal,
DK-9000 Aalborg

Tel: +45 53703033
LUL@trackunit.com

ZTR
Colleen Burghardt
Marketing Communications Manager

Industrial IoT Division
955 Green Valley Road
London, Ontario Canada
N6N 1E4

Tel: 1-519-452-1233 Ext.337
cburghardt@ztr.com

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HHAeXchange and healthcare investor Cressey & Company welcome strategic investment from software investor, Hg, to accelerate continued growth as the leading homecare management solution provider

HG Capital

Partnership builds on HHAeXchange’s exponential growth and enhances its ability to scale its best-in-class enterprise management and homecare workflow solutions.

New York, New York, USA & London, United Kingdom. 14 September 2021: HHAeXchange (“HHAX” or the “Company”), the leading provider of homecare management solutions for payers, providers, and state Medicaid agencies, announced today that it has secured a new investment from Hg, a leading global investor in software and services.

Cressey & Company LP (“Cressey”), a leading healthcare-focused private investment firm which first partnered with HHAX in 2018, will continue to be a significant investor in HHAX. Both investors will share joint governance of the business.

“We are proud to welcome Hg to the team for this next chapter of HHAeXchange’s continued success. With Hg’s track record of growing technology businesses and Cressey’s specialist background in the healthcare space, HHAeXchange is incredibly well-positioned to enhance our solution suite and expand our reach to meet the growing demand for home and community-based services.”

Greg Strobel, CEO of HHAeXchange

Founded in 2008, HHAX offers a comprehensive software as a service (SaaS) platform to its customers that improves patient outcomes, drives operational efficiency and increases compliance across the homecare ecosystem. Its solutions are delivered through subscription-based enterprise and mobile tools and facilitate over 125 million annual visits for 650,000 caregivers across more than 44 states. Today, HHAX has global offices across North America, Europe, and Asia.

“HHAX provides a best-in-class SaaS platform to the homecare industry, with a vital mission to enable high-quality care in home and community-based settings. We’re excited to partner with a stellar team at both HHAX and Cressey to advance the Company’s mission and support its continued growth.”

Nick Crowne, Principal at Hg

“Hg has a strong focus on healthcare technology, with HHAX being our sixth current healthcare technology business across Europe and North America and our second investment in the sector in just the last few weeks, meaning Hg will have invested well over $1.5bn in the sector globally. We look forward to bringing this experience to the table and are delighted to partner with Greg, as well as the entire HHAX and Cressey teams.”

David Issott, Partner at Hg

“We are thrilled to welcome Hg as our and HHAX’s new partner, as the Company continues executing on its strategic plan and strengthening its leadership position in the homecare sector,”

Dave Rogero, Partner at Cressey

The terms of the transaction have not been disclosed. William Blair & Company advised HHAX and Cressey on the transaction. Lincoln International LLC were advisers to Hg.

 

Media Contacts:

HHAeXchange

Kaitlin Olcott

(631)-938-1479 x 5542

kolcott@hhaexchange.com

 

Cressey & Company

Chuck Dohrenwend / Will Braun

Abernathy MacGregor

212-371-5999

cod@abmac.com / whb@abmac.com

 

Hg

Tom Eckersley

Tom.Eckersley@hgcapital.com

+44 208 148 5401

Alex Yankus and Harry Mayfield (Brunswick, USA)

+1 917 818 5204

 

About HHAeXchange

Founded in 2008, HHAeXchange is the leading technology platform for homecare and self-direction program management. Developed specifically for Medicaid home and community-based services, the HHAeXchange platform connects state agencies, managed care payers, providers, and caregivers through its intuitive web-based platform, enabling unparalleled communication, transparency, efficiency, and compliance. For more information, visit hhaexchange.com.

 

About Cressey & Company LP

Based in Chicago, IL and Nashville, TN, Cressey & Company LP is a private investment firm focused on building leading healthcare services and information technology businesses. With a history spanning nearly 40 years, the Cressey & Company team is one of the most experienced and successful in the healthcare private equity field. For more information, visit cresseyco.com.

About Hg

Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialization and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $37 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 35 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $70 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year. Visit www.hgcapital.com for more information.

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MERIT Completes $20 Million Series A Funding Round Led By L Catterton’s Growth Fund

LCatterton

LOS ANGELES, Sept. 14, 2021 /PRNewswire/ — MERIT, the minimalist beauty brand led by CEO Katherine Power, is announcing a $20 million Series A funding round led by the Growth Fund of L Catterton, the largest global consumer-focused private equity firm. Marcy Venture Partners and Sonoma Brands also participated in the round. The transaction underscores strong investor confidence in MERIT’s success and consumer interest in the simplification of beauty routines, and the investment will accelerate MERIT’s rapid expansion into an omni-channel, cross-category beauty brand.

MERIT launched as a minimalist beauty line in January 2021 with a “five-minute morning” color cosmetics assortment. Since then, the brand has experienced exponential growth, driving an innovative direct-to-consumer strategy alongside aggressive retail expansion, including into Sephora U.S., Sephora Canada, and Sephora at Kohl’s.

The brand has challenged conventional beauty marketing and product formulation since its inception, pioneering a curated routine focused on ease of use and a holistic approach to clean and responsible luxury at an accessible price point that encourages brand loyalty through repeat purchase. With this funding round, MERIT will continue to grow its color cosmetics collection and expand into new categories. Additionally, L Catterton Vice President Courtney Nelson is joining MERIT’s Board of Directors.

“Our customer is a discerning individual who is selective about the brands and products they welcome into their life. At MERIT, we aim to serve our consumer in many aspects of their beauty and self-care routines,” says MERIT founder and CEO Katherine Power. “Our team is looking forward to collaborating with L Catterton and our other partners as we leverage their collective expertise scaling consumer brands to support the development of new products within and beyond clean color.”

This is Power’s fourth digitally native and data-informed brand serving millennial consumers. She previously founded media property Who What Wear, skincare brand Versed, and co-founded the natural wine label Avaline alongside Cameron Diaz.

MERIT has demonstrated an impressive track record in the beauty industry since its launch, and L Catterton looks forward to supporting the Company as it capitalizes on the growing color cosmetics category, expands into additional key growth categories, and becomes a defining example of a true modern lifestyle brand.

L Catterton has significant experience investing globally in the beauty and personal care category. Current and past investments include TULA, IL MAKIAGE, Function of Beauty, The Honest Company, Intercos, Marubi, Elemis, and many others.

About MERIT

MERIT is the antidote to the oversaturated world of beauty — well-edited essentials that have earned a place on your vanity. By taking a holistic approach to responsible luxury, MERIT creates products that are safe for the body, skin and planet. We simplify what it means to get ready.

For more information visit meritbeauty.com and @MERIT on social media.

About L Catterton

With approximately $30 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. L Catterton’s team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 1989, the firm has made over 250 investments in leading consumer brands. For more information about L Catterton, please visit lcatterton.com.

Contacts:

MERIT
Allison Dent
Sunshine Sachs
merit@sunshinesachs.com

L Catterton
Andi Rose / Haley Salas
Joele Frank, Wilkinson Brimmer Katcher
+1 212-355-4449

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KLAR Partners funds invest in Oleter Group to build the leading Northern European provider of Property Damage Restoration (“PDR”) services

Klar Partners

KLAR Partners funds invest in Oleter Group to build the leading Northern European provider of Property Damage Restoration (“PDR”) services

Funds advised by KLAR Partners Limited (“KLAR Partners” or “KLAR”), have invested in Oleter Group, one of the Nordic region’s leading PDR providers. KLAR has invested as a growth partner alongside the existing owners and management with the objective of developing the company into the leading provider of PDR services in Northern Europe.

Oleter Group consists of Ocab and Frøiland Bygg Skade (FBS), market-leading providers of property damage restoration services. The service offering includes damage inspection, pest control and restoration of fire and water damage. The group has a strong geographical presence in Sweden and Norway with close to 1,700 employees in 90 locations. In 2020, Oleter Group had sales of approximately SEK 2 billion.

The investment in Oleter Group is in line with KLAR’s strategy to invest in companies providing mission-critical services in resilient and growing markets.

“Our investment in the Oleter Group is at the very core of KLAR’s expertise. The group is active in a highly attractive market and has a clear sustainability profile which forms a solid foundation on which we can build the next growth chapter of the business. We look forward to partnering with management and the team to build a leading northern European PDR platform,” said Petter Darin, KLAR Team Leader.

“We are excited to welcome KLAR as a new partner to accelerate the growth of Oleter Group, both organically and through acquisitions, into a market leader of PDR services. We share a strong focus on people and culture and in addition KLAR will contribute industry-specific experience and geographical reach to the team,” said Bo Ingemarson, Chairman of the Board, Oleter Group.

For more information:
Carl Johan Falkenberg
cj@klarpartners.com
+44 7918 941 391

Petter Darin
pd@klarpartners.com
+46 70 240 5015

About Oleter Group
Oleter Group is a leader in PDR in the Nordic region and consists of Ocab (dehumidification and decontamination services in Sweden), Frøiland Bygg Skade (PDR services in Norway), NHS (underground infrastructure services), MCM Relining and S-Pipe (relining), and Planea (property development consulting services). The business has a strong geographical presence with approximately 1,700 employees established in close to 90 locations in Norway and Sweden. The company benefits from close and stable customer relationships in stable markets with underlying secular growth trends. In 2020, the Group delivered SEK 2 billion of sales.

About KLAR Partners
KLAR Partners is a European private equity firm focused on investments in companies operating in business services and light industrials. The companies in which KLAR invests each have an annual turnover of approximately EUR 50-500m and are headquartered in the Nordics, Benelux or DACH regions. With investment professionals located in London, Stockholm, Frankfurt and Brussels, together with a broad international network in the industry, KLAR has a proven business model to support, develop and grow companies. KLAR’s senior professionals have worked together for many years and have more than 50 years of combined investment experience in KLAR’s industry-specific and geographical focus area. KLAR Partners is a signatory of United Nations Principles for Responsible Investment. More information about KLAR can be found on the company’s website at www.klarpartners.com.

Published September 13, 2021

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Apax Partners to sell a majority shareholding in Marlink to Providence Equity Partners

Ardian

13 September 2021 Co-Investment United-KIngdom, London

London and Paris, September 13, 2021 –  Apax Partners SAS (“Apax”), the leading European private equity firm based in Paris, announces that it has sold a majority stake in Marlink (the “Company”) to Providence Equity Partners (“Providence”), a leading private equity firm specializing in media, communications, education, software and services. The transaction values the Marlink Group at $1.4 billion. No further information on the terms of the transaction is disclosed.

  • The transaction values Marlink at $1.4 billion.
  • Marlink’s management team is significantly reinvesting in the transaction.
  • Ardian is also taking an equity stake.
  • The objective: to accelerate Marlink’s growth in the face of increasing broadband demand and the accelerating digitalization of its customers.

Convinced of the group’s growth prospects, Apax retains a significant minority stake in Marlink. Ardian and Marlink’s management team are also investing alongside Apax and Providence.

Based in Paris and Oslo, Marlink is the leading independent provider of communications services and solutions in the most remote areas of the world. The group serves the largest companies in the maritime and land-based sectors.

“Marlink offers a comprehensive set of smart grid solutions, combining terrestrial and satellite connectivity, computing, cloud, cybersecurity and IoT managed services,” said Karim Tabet, President and CEO of Providence. “We are thrilled to partner with such an outstanding company as Marlink. Along with Apax and Ardian, we look forward to supporting Erik Ceuppens and his team. As a leader in its market, Marlink wants to capitalize on the growing demand for digital solutions and broadband connectivity.”

Michael Vervisch, Managing Director of Providence, added: “We have been impressed with Marlink’s transformation into a leading broadband provider, able to operate its own network and generate economies of scale to become a leader within its industry. By offering digital solutions with real added value, among other things, we will be able to create real growth opportunities in the future.”

Bertrand Pivin, Partner at Apax, said: “Apax first invested in Marlink 15 years ago. Under the leadership of Erik Ceuppens, the company has completely transformed its value proposition, tripling its revenues and increasing its EBITDA by a factor of 10. It has become the world’s leading operator of satellite services, first in the maritime sector and more recently in the enterprise sector with the acquisition of ITC Global. The 10,000 broadband terminals installed around the world are a true lever for the design and delivery of critical digital services sought by Marlink’s direct customers in their strategic operations. We are convinced that Providence is a partner of choice to lead the next steps in the group’s development and are happy to continue the adventure with them.”

Erik Ceuppens, CEO of Marlink, said: “This major transaction demonstrates the confidence of our investors in the strength of our company and its development potential. Through significant organic growth and several targeted strategic acquisitions, Marlink has established itself as a leader in B2B satellite communication solutions. In line with its Smart Network strategy, Marlink is working hard to rapidly digitize its customers’ remote operations and support their sustainability. We are delighted to partner with leading private equity investors Providence and Ardian as our new majority shareholders, and to have the full support of our first ever investor Apax. With their support, our management team and our employees, we have all the keys in hand to take Marlink to the next level.”

Alexandre Motte, Head of Ardian Co-Investment, said: “Whether it is the company’s unique positioning in the B2B satellite communications industry or the various achievements of Erik and his team, we have been particularly impressed with Marlink. With new opportunities for growth – including significant acquisitions – and the increasing need for services and connectivity, we are excited to be a part of writing this new chapter in Marlink’s development. Many thanks to Marlink, Providence and Apax for their confidence. We look forward to contributing to this collaboration!”

Subject to customary and regulatory approvals, the transaction is expected to close in the first half of 2022.

Parties to the transaction

  • Providence

    • Providence : Karim Tabet, Michael Vervisch, Stefano Bosio, Tarik Ben Brahim
    • Conseils M&A : UBS (Christian Lesueur, Abhishek Dhacholia)
    • Conseils Capital Markets : DC Advisory (Ciara O’Neill)
    • Due Diligence commerciale : Arthur D. Little (Guillaume Picq, Matteo Ainardi)
    • Due Diligence financière : FTI Consulting (Aneesh Maloo, Thomas Rawlinson)
    • Juridique : Paul Hastings (Arthur de Baudry d’Asson), Allen & Overy (Vanessa Xu)
    • Fiscal : KPMG (Saul Russo)
  • Apax Partners

    • Apax : Bertrand Pivin, Vincent Colomb, Arnaud Vigier
    • Conseils M&A : Goldman Sachs (Céline Méchain, Thomas Gagnez), BNP Paribas (Sylvina Mayer, Marc Walbaum, Claire Ramaharobandro)
    • Due Diligence commerciale : BCG (Franck Luisada, Benjamin Sarfati)
    • Due Diligence financière : Deloitte (Leonardo Clavijo, Lisa Lauv, Christele Fraisse)
    • Corporate : Weil, Gotshal & Manges (Alexandre Duguay, Guillaume Bonnard)
    • Juridique / social : Mazars (Jérôme Gertler)
    • Fiscal : Taj (Olivier Venzal)

 

ABOUT PROVIDENCE EQUITY PARTNERS

Providence Equity Partners is a leading global private equity firm with nearly $45 billion in committed capital. Providence is a pioneer in the industry approach to private equity, cultivating the idea that a dedicated team of industry experts can build exceptional companies with enduring value. Since its founding in 1989, Providence has invested in more than 170 companies. It is a leading private equity firm focused on the media, telecommunications, education, software solutions and services sectors. Providence has a strong track record of investing in a variety of European TMT companies, including (between 2001 and 2021) Node4, MasMovil, Mach, MobilServ, M7 Group, Ono, Comhem, TDC, Eircom, Bite, Kabel Deutschland and Casema. Providence is headquartered in its namesake metropolis (in the U.S. state of Rhodes Island) and has a branch office in New York and another in London.

 

ABOUT D’APAX PARTNERS

Apax Partners is one of the leading private equity firms in Europe. With over 45 years of experience, Apax Partners supports companies over the long term to make them leaders in their sector. The funds managed and advised by Apax Partners amount to over €4.5 billion. These funds invest in high-growth SMEs and SMIs in four sectors of specialization: Tech & Telecom, Services, Healthcare and Consumer Goods.

 

ABOUT MARLINK

Marlink Group, the leading independent provider of transmission services and solutions and a pioneer in its field, has been serving the world’s largest maritime and land-based businesses for 75 years. With expertise in the design, installation and operation of intelligent network solutions that combine hybrid connectivity with satellite and terrestrial links, Marlink enables businesses to stay connected at all times, while optimizing the performance of their operations wherever they are, in an increasingly intelligent, efficient and secure manner.

In addition to a range of unparalleled satellite and terrestrial connection services, Marlink offers a range of digital solutions such as network management, cloud access and cybersecurity. Marlink brings unique tailor-made fixed and mobile solutions to each project thanks to its expert teams, its powerful network, and its technology partners. More than 1,000 Marlink employees serve major global customers worldwide, with over 1,500 land-based VSAT installations and over 6,000 maritime VSATs.

More than 200,000 end-users rely on Marlink’s services, including the shipping, transportation, oil and mining industries, media, NGOs, and government institutions.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$114bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 780 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Press contact

PROVIDENCE EQUITY PARTNERS

Sard Verbinnen & Co CHARLIE CHICHESTER / RORY KING

Prov-SVC@sardverb.com

APAX PARTNERS

LAUREN BARDET Head of communication

Lauren.bardet@apax.com

MARLINK

JESSIKA DAMMERT Head of marketing and communication

Jessica.dammert@marlink.com +49 (0)175 581 541 3

ARDIAN – Image 7

FLORE LARGER/ ANNE-CHARLOTTE CREACH

ardian@image7.fr

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