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DIF invests in large scale fibre rollout in Germany | press release

DIF

DIF Capital Partners will acquire a majority stake in ruhrfibre, and fund the buildout of a large scale fibre network in Essen (Germany) targeting around 150,000 households. The project marks a shift in Germany, where the number of urban fibre connections is still low and rollout in larger cities to date has not been attracting substantial private investments. Alongside DIF, the company is formed by project developer metrofibre and the City of Essen.

With DIF, through its DIF CIF III fund, as funding partner, ruhrfibre commits to a large scale fibre rollout throughout Essen. The project is a game changer to the city in the industrial Ruhr-area in terms of its economic advancement and will accelerate Essen’s development into a smart city.

Currently, Germany ranks 34th in terms of fibre penetration with only four OECD countries having a lower rate. This is not just the situation in German rural areas, but also in urban areas like Essen, where currently only 5% of households have a fibre connection.

In Essen, ruhrfibre will develop, construct and operate an urban fibre-to-the-home network that is primarily focusing on connecting private households, as well as public and business customers to high-speed internet. Over the next few years, the company will roll out a network of more than 1,000 km of fibre in the city.

“We firmly believe in the importance of an improved digital infrastructure in the beating heart of the Ruhr-region and helping Essen to become a smart city. For us, it’s an investment that perfectly fits in our CIF fund strategy, which focuses on small to mid-market infrastructure investments, of which the digital infrastructure space is a priority sector,” says Willem Jansonius, partner and head of investments of CIF at DIF Capital Partners.

The completion of the acquisition is subject to antitrust approval.

Earlier this week, DIF announced the expansion of its digital infrastructure team in Europe.

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with more than EUR 15 billion of AUM. DIF was founded in 2005 and has built a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds invest in lower risk mid-sized infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as PPPs and concessions. The firm’s CIF funds invest in small to mid-sized companies that will thrive in the new economy. These companies are typically active in the digital, energy transition and sustainable transportation sector.

With a team of over 200 professionals in 11 offices, DIF Capital Partners offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

For more information please visit www.dif.eu.

 

Contact DIF: Diederik Heinink, d.heinink@dif.eu

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Coutts joins forces with BGF to raise over £80 million to back entrepreneurs in Britain

BGF

Coutts, the private banking arm of NatWest Group, and BGF have now raised over £80m through the UK Enterprise Fund (UKEF). This provides the Coutts’ client base with access to investment opportunities in privately-owned scaleup and early-stage businesses, as part of BGF’s nationwide platform.

The fund launched in June last year with £40m of committed capital and has now been matched by a further £40m at the close of the second fundraising round. Through BGF, UKEF capital is invested into carefully selected scaleup businesses headquartered in the UK, providing long-term funding to support growth.

The UKEF aims to provide funding to address equity gaps across the entrepreneurial ecosystem and has been a boost to female-owned businesses with 22% of the first tranche of fundraising backing women-owned businesses. This compares with the industry standard of just 1%.

UKEF investors can benefit from BGF’s investment strategy of reaching a high volume of high-quality businesses across different growth stages, multiple sectors and all regions of the UK, offsetting concentrated risk exposure.

BGF is the leading growth capital investor in the UK and exclusively takes a minority shareholding in each of the companies it backs. It focuses on supporting investee businesses through its local investment teams based in 15 regional offices in the UK, extensive people network and strategic advice in a variety of areas, such as positive environmental, governance and social changes.

To date, UKEF has exposure in 47 BGF-backed businesses including Character.com, a children’s clothing and branded products ecommerce platform, Enhanc3d Genomics, a human genome mapping business and Reactive Technologies, a provider of critical data to the energy grid and asset operators.

One in five of these businesses has a female founder, compared to only one in 100 across the industry, whilst 23 percent have appointed a female Chair from BGF’s network to their Board. 73 percent of the capital invested in this cohort of companies has been deployed into businesses headquartered outside London and the South East.

Andy Gregory, CEO of BGF, said: “By its nature, UKEF is an innovative and highly differentiated offering in equity investing. Through UKEF, Coutts’ clients are able to increase their exposure in privately held UK companies, whilst benefiting from the due diligence, robust governance and skilled investment expertise that comes with the BGF platform.

“Whilst we are acutely aware of the current macro-economic environment for businesses and investors, BGF’s long-term model provides us with the economic means and mindset to view investments and exits from a longer-term horizon, which has proved highly attractive to UKEF investors and indeed to the diverse set of scaleup companies that we continue to back.”

Alison Rose, CEO of NatWest, commented: “We are highly encouraged by the continued appetite amongst UKEF investors to support high-potential businesses, and in particular those with diverse founders.

“The Rose Review showed us that £250bn of new value would be unlocked for the UK economy if women started and scaled their businesses at the same rate as men. Providing better access for funding is key to help realise this potential. That is why funding vehicles like UKEF can have a game-changing impact, especially as current economic conditions are making it harder for high-potential companies to access the resources required to scale. We are now excited to see what a new cohort of dynamic and diverse businesses receiving backing from the next round of UKEF funding can achieve.”

One business that has benefitted from BGF is Strathberry, an Edinburgh-based and internationally known brand specialising in luxury leather goods. It was founded in 2013 by husband-and-wife team Guy and Leeanne Hundleby who had returned to the UK after travelling across Spain with their children.

Leeanne Hundleby says their businesses has enjoyed a long relationship with Coutts, but the UKEF and BGF have brought them even closer, allowing Strathberry to invest more in its main markets, the UK and US. She explains: “We’ve been able to enhance our ecommerce capabilities and strengthen the senior leadership team with new hires bringing in precious expertise. Long-term, we’re looking to expand our retail footprint with more flagship stores opening globally, as well as developing new product categories.”

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AURELIUS Equity Opportunities subsidiary BMC Benelux acquires Vandevoorde Bouwmaterialen

Aurelius Capital
  • Second strategic add-on acquisition for BMC Benelux in 2022
  • Strengthening of BMC´s market coverage in Belgium

Munich, November 25, 2022 – AURELIUS Equity Opportunities announces the second strategic add-on acquisition for BMC Benelux, a leading Belgian building materials merchant operating the two brands in the B2B sector (Youbuild and Mpro). BMC Benelux acquires the family-owned builders’ merchant Vandevoorde Bouwmaterialen NV.

The acquisition will enhance BMC Benelux´s customer service and better align the company with its supplier partners. Furthermore, Vandevoorde will contribute to the development of the BMC Benelux national network and expand the company´s footprint in the Belgium region of East and West Flanders. The site will be developed to a new hub for the Youbuild network. With approximately 90 % of Vandevoorde´s customers being B2B-professionals, the firm is well-positioned to support BMC Benelux’s growth strategy.

BMC Benelux is one of the top five players in a large market that remains highly fragmented. Operating two brand names: YouBuild and Mpro, BMC Benelux primarily targets small and medium-sized professional customers in the construction industry. The retail chain has a dense branch network throughout Belgium, a wide product range and excellent services, such as delivery, cutting and rental of specialty tools. BMC Benelux has been part of AURELIUS since October 2019.

Vandevoorde Bouwmaterialen is a building materials merchant based in Wortegem—Petegem. The company offers a site with approximately 19,000 m2, a showroom and four trucks.

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Adelis exits Mobilhouse

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Adelis Equity

Adelis Equity Partners Fund II (“Adelis”) has divested its majority stake in Mobilhouse, a provider of temporary modular buildings for offices, schools, kindergartens and offices, to a consortium led by investment firm Kirk Kapital.

Following the acquisition by Adelis in 2019, Mobilhouse executed a successful roll-out of its modular space offering fuelled by, amongst other, ESG initiatives targeted towards public customers. In addition, the company has successfully shifted towards a 100% rental model.

In connection with the transaction, Steffen Thomsen, Senior Adviser at Adelis, will become the Chairman of the Board at Mobilhouse.

“Thanks to the strategic shift during recent years, Mobilhouse now has a solid and scalable business, with a strong management team. On behalf of Adelis, I would like to thank management and employees for their strong efforts these past years. At the same time, I am looking forward to continuing my involvement with management and the company, with a focus on further accelerating the growth of the business in the coming years” says Steffen Thomsen.

Benny Møller, CEO of Mobilhouse says: “The activity level at Mobilhouse has never been higher and I am grateful for the support we have received from Adelis and the board of directors over these past years. I am looking forward to working with the new ownership group to continue the development of our business”.

The parties have agreed not to disclose the purchase price.

Adelis was advised by Carnegie and Kromann Reumert on the transaction.

For further information:

Steffen Thomsen, Adelis Equity Partners, steffen.thomsen@adelisequity.com

Caroline Lundgaard, Adelis Equity Partners, caroline.lundgaard@adelisequity.com

About Mobilhouse

Mobilhouse is a leading Danish provider of temporary modular buildings for offices, schools, kindergartens, offices and building sites to private and public customers across Denmark. The business was founded in 1961 and has a build strong ESG focus and offering during recent years – Mobilhouse was for example one of the first provider of Swan ecolabelled buildings in the Nordics.  Mobilhouse is headquartered in Fredericia. For more information, please visitwww.mobilhouse.dk.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 36 platform investments and more than 160 add-on acquisitions. Adelis today manages approximately €2.5 billion in capital. For more information, please visit www.adelisequity.com.

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Openbravo joins DL Software

Adara

We are delighted to share that Adara portfolio company, Openbravo, is joining DL Software, a leading France-based group of vertical software providers, as part of its ambitious path to internationalize its business footprint.

Founded in 2001 in Pamplona, Spain, Openbravo helps brands and retailers looking to accelerate their unified commerce strategy and increase the agility of their operations. The fully-modular platform integrates online and offline channels, provides intelligent order management, real-time views of customers and inventory, and a complete store solution to deliver more personalized experiences.

Openbravo’s all-in-one cloud-based solution is used by international companies such as Decathlon, Flunch, Norauto, Sharaf DG, BUT, Toys ‘R’ Us Iberia, and Zôdio – reaching over 50 countries and more than 10,000 back office users and 40,000 customer touchpoints, such as point of sale and self-service terminals, kiosks, and others.

The acquisition is part of DL Software’s pan-European growth strategy to position itself as an international specialist in multi-sector vertical software.

“We are extremely excited to become part of a larger company ready to help us accelerate on our growth strategy. DL Software has an excellent reputation, and this acquisition represents an important recognition of our solutions, the team, and our achievements to date,” said Marco de Vries, CEO of Openbravo.

“This will help us take our business to the next level and that will benefit our existing and future employees, customers, and partners. I would also like to thank, in the name of all our employees, our previous shareholders Amadeus Capital, Adara Ventures and SODENA, for their fantastic support and guidance over the past years.”

We wish the entire Openbravo team the best as they start this new chapter!

Learn more here: https://www.prnewswire.com/in/news-releases/openbravo-announces-its-acquisition-by-leading-french-group-dl-software-822078251.html 

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Occto raises €4.6 million to fast forward the way companies create relevant customer experiences

Industriefonden

Industrifonden invested in Occto already in January 2021 and today we are happy to announce our continued support and investment in the company. This €4.6 million round was led by Amsterdam based Newion, with continued participation from Munich based 42CAP and Industrifonden.

Occto is an Experience Data Platform built to fast forward the way companies create relevant customer experiences, everywhere. With Occtoo the user can easily unify all experience data such as customer, product, transactional, behavioral and content – and make it accessible in real time in any frontend of choice. Occto was founded in 2019 and their solution has become especially popular among upper mid-market and enterprise sized retailers with a need to support their omnichannel sales strategy such as Cartier, Intersport and Nordic Nest. The new funding will be used to accelerate expansion, grow the partner network and product development.

Niclas Mollin, CEO & Co-founder, Occtoo, said: “The relevance of our product is even stronger in this unstable market, companies need to focus on creating a relevant customer experience using the resources they already have and with less risk. We help them do that.”

Tomas Bie, Investment Director, Industrifonden, said: ”We are especially impressed by the fact that Occtoo can implement a new digital experience for a digital marketing department in days, whereas it today can take months to get hold of the data needed. We’ve been following Occto for a couple of years now and can see that the customers are adapting their platform beyond expectation. We are happy to continue supporting the team on their mission to create relevant customer experiences.”

Read more in Breakit (Swedish) and EU-Startups.

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CVC Credit provides debt facilities supporting TPG partnership with DOC Generici

CVC Capital Partners

CVC Credit is pleased to announce that it has provided the debt facilities to support TPG’s acquisition of DOC Generici, one of the leading suppliers of generic pharmaceuticals in Italy.

Founded in 1996, DOC Generici is a leading generic pharmaceutical company based in Milan, Italy. The company combines experience with specialisation to market a broad and expanding product portfolio with a strong presence in cardiovascular, GI, and neurological treatments. DOC Generici targets both doctors and pharmacies as routes to market, as well as end-users and wholesalers with a sales and marketing force consisting of more than 200 people.

Quotes

Our aim is always to partner with top-quality sponsors and successful businesses, with stable revenue streams and strong cashflow generation, and DOC Generici is an excellent example of such a company

Andrew Davies Partner and Co-Head of Private Credit at CVC Credit

Simone Zacchi, Managing Director at CVC Credit, commented: “DOC Generici is well-positioned with a strong brand operating strategy and a broad and diverse product portfolio, and we are excited to support TPG’s ambitions to enhance their leadership position further in the growing Italian generic pharmaceuticals market.”

Andrew Davies, Partner and Co-Head of Private Credit at CVC Credit added: “We are delighted that, thanks to our relationship with the sponsor, we were approached by TPG to participate in this transaction. Our aim is always to partner with top-quality sponsors and successful businesses, with stable revenue streams and strong cashflow generation, and DOC Generici is an excellent example of such a company.”

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Eurazeo announces the first close of its Transition Infrastructure fund to support the transition to a low carbon economy with a commitment from the european investment fund backed by Investeu.

Eurazeo
  • Eurazeo is delighted to announce that the Eurazeo Transition Infrastructure Fund (ETIF or the Fund) has reached first close with €210million commitments from EIF and a range of institutional investors.
  • The European Investment Fund has made a cornerstone investment of €75 million. The agreement is supported by the InvestEU program.
  • As of today, the fund has a portfolio of 3 investments in 3 sectors across 3 European countries.

With the first close of the Fund, Eurazeo strengthens its commitment to climate change mitigation and decarbonization across the transition infrastructure asset class.

As the world transitions towards a more sustainable and resilient low carbon future, the objective of the Fund is to invest in transition infrastructure, including the energy transition, the digital transition, clean transport, and circular economy. The fund is classified as an Article 9 fund under the European Sustainable Finance Disclosure Regulation (SFDR).

The European Investment Fund has made a cornerstone investment of €75 million, using resources from the European Investment Bank and InvestEU, which helps generate additional funding in key European priorities such as the green transition. In addition to Eurazeo’s commitment of €100m, several institutional investors have made commitments to the Fund.

ETIF has already allocated substantial capital to a portfolio of three sustainable infrastructure companies.

The Fund has been seeded with 3 investments. These 3 portfolio companies, headquartered in 3 different European countries, operate in 3 different sub-sectors: Ikaros Solar (Belgian rooftop solar developer), Resource (joint venture to develop a plastic waste sorting plant in Denmark) and Electra (French headquartered electric vehicle charging point operator).

Alain Godard, managing director, European Investment Fund:

“Contributing to the EU’s green transition is a priority for the EIF. We are therefore very glad to be doing our part and investing in a fund that will make real, tangible and meaningful steps in the direction of meeting the EU’s climate targets. Investing in climate funds is a key priority for EIF, and with the support of the new InvestEU programme, we are further strengthening our contribution to the EIB Group climate action agenda.”

Paolo Gentiloni, European Commissioner for Economy:

“Developing the transition infrastructure needed to decarbonise our economies will require significant and sustained investment. InvestEU is an innovative and powerful tool that is helping to harness this investment. I am delighted that, with this agreement, InvestEU is channelling the finance needed to accelerate the deployment of a new green economy.”

Laurent Chatelin, Partner and Elise Dupuy Vaudour, Chief Operating Officer – Eurazeo – Infrastructure:

“Climate change is pushing global warming to an unprecedented high; primarily because of carbon emissions from human activity. By taking a holistic approach across the transition infrastructure space, the Eurazeo Transition Infrastructure Fund will accelerate the deployment of capital to support the continued decarbonization of our societies, helping Europe achieve energy sovereignty and a sustainable future. We would like to thank the EIF for their trust and renewed confidence in Eurazeo’s teams, as well as our other investors who have committed to invest sustainably through ETIF. With them, we believe we are well positioned to deliver on ETIF’s ambition.”

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Wireless Logic acquires IOThink Solutions

Montagu

IoThink’s innovative IoT platform will create new opportunities for Wireless Logic customers to control connected devices, monitor fleets and analyse data

Wireless Logic, the leading global IoT connectivity platform provider has acquired IoThink Solutions for an undisclosed sum. IoThink is an international software as service vendor, which provides tools for customers to quickly and easily build their own bespoke IoT solution. This agreement marks the latest step in Wireless Logic’s business expansion following the acquisitions of Mobius Networks and Jola in July.

Formed in 2016 and headquartered in France, IoThink is on a mission to simplify IoT. Its core offering is the Kheiron IoT Suite, which provides users with the required tools to quickly and easily build their own IoT platform. The fully customisable solution offers low-code development, over 750 pre-integrated devices, digital twin capabilities and templates for multiple use cases. In addition, Kheiron facilitates the management of information flows from different sources and allows integrators to interconnect with their own internal solutions under a single data format. Kheiron can adapt to different use cases to meet demand across different vertical sectors – from smart cities, buildings and industry, to retail and utilities.

Julien Dalmasso, Co-founder and CEO at IoThink Solutions commented: “Joining one of the world’s largest IoT Connectivity providers is a natural fit and a logical next step for us. Wireless Logic is a heavyweight in the IoT industry, as evidenced by its recent global momentum, partnerships and overall market success. Introducing our IoT enablement solution to Wireless Logic’s extensive customer base presents a huge opportunity. This milestone is testament to the hard work and dedication of the amazing team at IoThink. We are all very excited at the prospect of what we can achieve as part of the group.”

Joining one of the world’s largest IoT Connectivity providers is a natural fit and a logical next step for us. Wireless Logic is a heavyweight in the IoT industry, as evidenced by its recent global momentum, partnerships and overall market success.

Julien Dalmasso, Co-founder & CEO, IoThink Solutions

Jeremy Mirouf, Co-founder and CTO at IoThink Solutions commented: “We are delighted to be joining the Wireless Logic Group. This will enable us to accelerate the development of our IoT enablement capabilities for our 1,000+ customers across the globe, as well as introducing our own capabilities to Wireless Logic customers. Innovation is at our core, and we are passionate about delivering scalable, cost effective and user-friendly software solutions to simplify IoT. I am thrilled that Wireless Logic’s reliable and secure connectivity solutions will now be available to IoThink customers. This will provide our joint customer base with a horizontal ‘one-stop-shop’ to help speed up and simplify global IoT deployments.”

We are delighted to be joining the Wireless Logic Group. This will enable us to accelerate the development of our IoT enablement capabilities for our 1,000+ customers across the globe, as well as introducing our own capabilities to Wireless Logic customers.

Jeremy Mirouf, Co-founder and CTO, IoThink Solutions

Marc Niccolini, Managing Director, Group Revenue (CRO) at Wireless Logic commented: “This acquisition will expand Wireless Logic’s position into an adjacent part of the value chain. With the talented IoThink team onboard, our customers will be able to take charge and accelerate their IoT deployments through the low-code development, templates, and large device library available on the Kheiron IoT Suite. Similarly, our connectivity solutions will be a valuable addition to Kheiron, helping customers to decrease complexity and time to market. We look forward to working closely with the talented and innovative IoThink team.”

This acquisition will expand Wireless Logic’s position into an adjacent part of the value chain. With the talented IoThink team onboard, our customers will be able to take charge and accelerate their IoT deployments through the low-code development, templates, and large device library available on the Kheiron IoT Suite.

Marc Niccolini, Managing Director, Group Revenue (CRO), Wireless Logic

Oliver Tucker, CEO of Wireless Logic commented: “There are great synergies between Wireless Logic and IoThink Solutions, and this is an exciting acquisition for us, as it extends our reach to an adjacent part of the value chain. As IoT scales, the tools and solutions that IoThink offers are increasingly important to optimise any IoT project for maximum efficiency, and we are excited to bring these capabilities to our customers as they accelerate their own deployments. Similarly, our connectivity solutions will be a valuable addition to the Kheiron IoT Suite, helping customers decrease complexity and time to market. We look forward to working closely with the talented and innovative IoThink team.”

There are great synergies between Wireless Logic and IoThink Solutions, and this an exciting acquisition for us, as it extends our reach to an adjacent part of the value chain.

Oliver Tucker, CEO, Wireless Logic

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Ratos company SSEA signs contract with the Swedish Police Authority and Hemsö to build a new police building in Borlänge

Ratos

2022-11-23

The construction company SSEA, which is part of SSEA Group, has signed an agreement to build a new police building in Borlänge. The agreement is a collaboration contract and includes project development and production.

The police building will be built at the Gymnasium 2 property in Borlänge. The finished premises will comprise 20,000 square metres, and the building will be customised according to the Swedish Police Authority’s need and requirements. The project is divided into two phases and is being carried out in a partnership between SSEA, Hemsö and the Swedish Police Authority. Project development and preparations for production will be completed in Phase 1, while Phase 2 will focus on contract completion.

“The construction companies in the Ratos family are building a sustainable society. This includes being a world leader when it comes to building in wood – and being trusted to build society’s most important properties. As the owner, we’re pleased with this development and would like to congratulate SSEA on an impressive collaboration contract with the Swedish Police Authority and Hemsö,” says Christian Johansson Gebauer, Chairman of the Board of SSEA Group and President Business Area Construction & Services, Ratos.

“We’re proud of the trust placed in us to work with organisations like the Swedish Police Authority and Hemsö. Our partnering model is attractive when procuring this kind of project. Building Borlänge’s new police building is an important step for SSEA’s development in the region,” says Christian Wieland, CEO of SSEA and SSEA Group.

About SSEA
SSEA is part of the Ratos-owned construction group SSEA Group. SSEA has solid expertise in carrying out large and technically complex collaboration/partnering projects. The company is also a world-leading general contractor within wood buildings. SSEA carries out construction projects for customers in the private and public sectors across Sweden. The head office is in Stockholm, with regional offices in Malmö and Luleå.

About SSEA Group
SSEA Group is a Swedish construction group, with operations throughout the country. The Group’s operations focus on collaboration/partnering projects in which the customer’s most important priorities are high on the agenda. The Group has two subsidiaries: Vestia and SSEA. SSEA Group has approximately 200 employees, 60 projects in ten cities and a Satisfied Customer Index (SCI) of 96%.

For more information and media, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2021, the companies have approximately SEK 28 billion in net sales. Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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