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Conscia continues European expansion with acquisition in Belgium

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Nordic Capital

With the acquisition of Silta, Conscia makes a market entry into Belgium, continuing its pan-European expansion to support customers across the Benelux region. In addition to a wider geographical footprint, the acquisition strengthens Conscia’s customer value proposition within cybersecurity, managed services, and hybrid cloud.

“We are delighted to welcome Silta to Conscia as our gateway to the Belgian market, aligning with our strategy to position Conscia as a pan-European player. Silta shares our focus on high expertise within key technology areas. Moreover, their customer focus, business model, and values mirror ours,” says Group CEO Erik Bertman, Conscia.

Based in Antwerp, Belgium, Silta is a medium-sized technology company founded in 2018 with expertise in secure, connected, and managed hybrid cloud solutions and services. The company is renowned for its strong customer base and team of 20 skilled professionals.

“At Conscia Netherlands, we have looked for a way into Belgium for some time and are happy to have found a great match with Silta. They have built a rock-solid reputation in Belgium with customers in public, industry and service sectors. Our products and services complement each other effectively, and we see many opportunities for our value proposition in the Belgian market, which is characterized by a few very large organizations and many smaller players,” says Marcel Cappetti, General Manager at Conscia Netherlands.

All employees at Silta will collaborate closely with their Dutch colleagues, fostering knowledge exchange and providing customer support in the Benelux region.

“For many years, Silta has been a valued strategic IT partner for our customers in Flanders. We have been able to distinguish ourselves through our high level of knowledge of cybersecurity, managed services and cloud, and our strategic collaboration with leading technology partners. Together with Conscia, we are entering a new phase of growth for our organization, customers and employees,” says Gunter Van de Cauter, Sales Director, Silta.

Silta will continue as Conscia Belgium. The current directors of Silta, Gunter Van de Cauter and Ronnie Dibbaut, will continue to lead the organization and are the first point of contact for customers and partners in Belgium as part of the management team of the newly established Benelux organization.

Conscia has made 21 acquisitions in nine European geographical markets since 2013. The parties have agreed not to disclose financial details of the transaction.

For further information, please contact:
Group Chief Sales & Marketing Officer Daniel Siberg, Conscia
+46 734 082 778, dasi@conscia.com.

About Silta
Silta is an IT specialist based in the port of Antw

Categories: News

Yingling Aviation Acquires Global Engineering & Technology, Inc.

Ae Industrial Partners

cquisition further expands Yingling’s strategic footprint in Wichita, KS with additional capacity and strong expertise across the full spectrum of aircraft interior services

WICHITA, Kan.–(BUSINESS WIRE)–Yingling Aviation (“Yingling”), a leading, full-service provider of maintenance, repair, and overhaul (MRO) and fixed-base operation (FBO) services to business and general aviation aircraft, today announced that it has acquired Global Engineering & Technology, Inc. (“GETI”), an aircraft interiors service provider based in Wichita, Kansas. The financial terms of the transaction were not disclosed.

Founded in 1991, GETI specializes in aircraft interior design and restoration and has fabricated interiors for over 4,500 business aircraft to-date. With this acquisition, Yingling will gain access to GETI’s proven capabilities and track record of excellence across the full spectrum of aircraft interior repair and design services, including cabinet restoration, upholstered panel recovering, new furniture production, and seat recovering and refurbishment. Additionally, Yingling will continue to expand its Wichita footprint, with GETI’s over 60,000 square feet of facility space further strengthening capacity for growth.

“Integrating GETI into our operations will allow us to greatly increase our scope of work for interior renovations while accelerating client turnaround times,” said Bob Rasberry, CEO, Yingling Aviation. “Having collaborated closely with GETI over the years, we have firsthand knowledge of the quality of their team and its outstanding reputation across the industry.”

“Together, we have the potential to unlock real synergies by combining our knowledge and experience in interior fabrications with Yingling’s deep maintenance and repair expertise,” said Kurt Smith, President of GETI. “We look forward to working closely with the Yingling team as we integrate our organizations, diversify our customer base, and bring our comprehensive capabilities to market.”

“The acquisition of GETI marks another milestone in our strategy to build a unique independent MRO platform with deep operating experience and technical expertise to serve the business aviation market,” added Jon Nemo, Managing Partner at AE Industrial Partners. “The range of services GETI provides is a natural complement to Yingling’s MRO business and will allow us to unlock new growth opportunities together.”

About Yingling Aviation

Yingling is a full-service maintenance, repair, and overhaul (MRO) and fixed-base operations (FBO) business located at Dwight D. Eisenhower airport in Wichita, Kansas. Yingling has extensive capabilities from nose to tail, including airframe maintenance, avionics, interiors, paint, propellers, and parts sales in support of a diverse range of business and general aviation airframes. Learn more at www.yinglingaviation.com.

About Global Engineering & Technology, Inc.

Global Engineering & Technology, Inc. (GETI) is a premier provider of aircraft interior solutions based in Wichita, Kansas. Offering the industry’s most versatile and luxurious selection of custom furniture, cabinetry, and upholstery, GETI specializes in enhancing and modifying aircraft interiors. Committed to quality and innovation, the company excels in both new cabin installations and refurbishments, delivering tailored solutions that meet each client’s unique needs.

About AE Industrial Partners

AE Industrial Partners is a private investment firm with $5.6 billion of assets under management focused on highly specialized markets including national security, aerospace and industrial services. AE Industrial Partners has completed more than 130 investments in market-leading companies that benefit from its deep industry knowledge, operating experience, and network of relationships across the sectors where the firm invests. With a commitment to driving value creation in partnership with the management teams of its portfolio companies, AE Industrial Partners invests across private equity, venture capital, and aerospace leasing.

Media Contact:
Stanton Public Relations
Matthew Conroy
(646) 502-3563
aeroequity@stantonprm.com

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IK opens Munich office and promotes three to Partner

IK Partners

IK Partners (“IK” or “the Firm”), a leading European private equity firm, is pleased to announce that it has opened a new office in Munich, Germany as part of its ongoing commitment to investing in the DACH region.

The Munich office will be led by Joachim Dettmar, Partner within IK’s Operations Team and Adrian Tanski, who has been promoted to Partner and sits within the Partnership Fund team. Previously based in IK’s Hamburg office, Adrian joined the Firm as an Associate Director in the DACH Mid Cap team in 2018, where he was involved in a range of transactions, including the exit of KLINGEL Medical Metal in 2023 as well as the acquisitions of MÜPRO in 2022 and CONET in 2021.

IK’s Partnership Fund strategy was launched in 2019 and targets larger, more established businesses at the higher end of the mid-market. IK invests alongside existing owners or new partners through minority positions.

In addition, IK is delighted to announce two further promotions to Partner across the Firm’s Hamburg and London offices:

  • Ingmar Bär – Development Capital Investment Team, Hamburg
  • Alexandra Kazi – Finance and Administration Team, London

Christopher Masek, Chief Executive Officer at IK, commented: “After what has been another very successful year for IK, we are delighted to celebrate the contributions of Adrian, Ingmar and Alexandra, whose commitment and efforts have been recognised through their promotions to the Partner Group. Furthermore, we are reinforcing our well-established base in the DACH region with the opening of a new office in Munich, helping to cement our position as one of the leading partners to European small and medium-sized enterprises.”

Adrian Tanski, Partner at IK, commented: “I am thrilled to be heading up IK’s new Munich office, together with Joachim, to strengthen our presence in the dynamic and attractive DACH market. Munich’s thriving economy, strong industrial base and access to high-calibre talent make it an ideal location for expanding our reach and originating exciting investment opportunities.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

ENDS

Adrian Tanski

  • Adrian Tanski joined IK in 2018 and is the Partner responsible for the DACH Partnership Fund Investment team, based in Munich.
  • He specialises in the Industrials sector and has been involved in several Mid Cap and Partnership Fund transactions across the DACH region.
  • Prior to joining IK, Adrian worked at Emeram Capital Partners, having gained an MBA from London Business School as well as a BA in Business Administration from the University of St. Gallen.
  • In addition to his professional skills, Adrian is an accomplished concert pianist.

Ingmar Bär

  • Ingmar Bär joined IK in 2018 and is the Partner responsible for the DACH Development Capital Investment team, based in Hamburg.
  • He has been involved in several Small Cap and Development Capital transactions across the DACH region.
  • Prior to joining IK, Ingmar worked at Triton Partners, having gained an MBA from INSEAD, a MSc in Finance from Bocconi University and a MSc in Accounting from Rotterdam School of Management.

Alexandra Kazi

  • Alexandra Kazi joined IK in 2017 and is the Partner responsible for Tax, Legal and Corporate Operations at IK.
  • She has responsibility for structuring matters across IK, its funds and transactions, as well as oversight of tax reporting, governance and various operational initiatives.
  • Prior to joining IK, Alexandra was employed at PwC, having qualified as an ACA Accountant and gained a BSc in Economics and Chinese Studies from the University of Nottingham.

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €17 billion of capital and invested in more than 195 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com

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Ardian launches a Continuation Fund with Syclef to support its next phase of growth

Ardian

Ardian, a world-leading private investment house, announces the successful closing of a newly formed Continuation Fund for Syclef, a leading European firm specializing in the installation and maintenance of refrigeration and air conditioning systems.

Representing Ardian’s first Private Equity Continuation Fund, this fund will be managed by Ardian and capitalized by Eurazeo as senior lead investor and Astorg as co-lead investor, following a competitive auction process. The fund comprises commitments from existing investors of Ardian Expansion Fund V and new investors, alongside a significant equity contribution from both Syclef’s Management team, and the Expansion team. The Continuation Fund includes substantial additional capital to further support Syclef’s organic growth plan and acquisition pipeline.

Since Ardian’s investment in November 2020, Syclef has continued to demonstrate outstanding performance. The company has consolidated its market position in France while successfully pursuing its M&A strategy internationally. Today, the Group is recognized as a key player in the energy transition, supporting its customers in the installation of custom-designed natural fluid systems across the refrigeration and air conditioning markets.

Ardian will support the company’s next phase of growth, enabling Syclef to further pursue its international expansion and support the refrigeration and air conditioning industries in transitioning to more efficient natural fluids, allowing Syclef’s clients to improve their energy efficiency and reduce environmental impact.

“We are very proud to have completed the first Private Equity Continuation Vehicle of Ardian with close to 50% of new LPs. It is a great recognition of the Expansion team’s investment strategy to support visionary entrepreneurs in mission-critical companies.” François Jerphagnon, Executive President of Ardian France and Head of Expansion, Ardian

“We are delighted to extend our collaboration with Syclef and the Group’s Management team. We are confident that the extension of this strategic partnership will enable Syclef to pursue its continuing growth trajectory across Europe and further establish itself as a European leader in natural fluids refrigeration and air conditioning systems.” Marie Arnaud-Battandier, Managing Director Expansion, Ardian

“We are delighted to renew our support for Syclef in this next phase of its development. Syclef is now recognized as a key player driving the energy transition across the high-growth refrigeration and air conditioning sectors.” Arthur de Salins, Managing Director Expansion, Ardian

“The entire Management team is delighted to renew its partnership with Ardian’s Expansion team. With Ardian’s support, Syclef has become a much more diversified player geographically. The Group has broadened its offer to the market and is in a stronger position both in financial and extra-financial terms. Thanks to its local presence across Europe and strong expertise in business services, Ardian will be a valuable asset in the ambitious next phase of the Group’s development.” Hervé Lohéac, Chairman, Syclef

LIST OF PARTICIPANTS

  • Participants

    • Ardian : Marie Arnaud-Battandier, Arthur de Salins, Thomas Grétéré, Badr M’haidra
    • Eurazeo: Christophe Simon, Amine Rais, Théo Charpentier, Mahdi Benerradi
    • Astorg: Sebastiaan van den Berg, Michal Lange, Ben Deanfield, Chuck Sandilya

  • Continuation fund

    • Advisor: Lazard Private Capital Advisory (Marion Cossin, Jérôme de Vienne, Thibault Principaud)
    • Fund Lawyers: Clifford Chance (Xavier Comaills, Elodie Cinconze, Alexandre Gardini, Laura Ferrier
    • Corporate Lawyers: Latham & Watkins (Olivier du Mottay, Louise Gurly)
    • Financing Lawyers: Latham & Watkins (Xavier Farde, Carla-Sophie Imperadeiro)
    • Strategic Due Diligence: LEK (David Danon-Boileau, Charles Petracco, Pierre Demuyt)
    • Financial Due Diligence: KPMG (Olivier Boumendil, Benjamin Patte)
    • Legal, Tax and Social Due Diligence: Delaby & Dorison (Emmanuel Delaby, Romain Hantz, Romain Bellamy); GCA (Thomas Brillet)
    • Alexandre Gaudin, Guillaume Oger, Athida Nhouyvanisvong); Valoren (Virginie Lockwood)

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $176bn of assets on behalf of more than 1,720 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT SYCLEF

Founded in 2003, Syclef is a leading European player in the installation and maintenance of refrigeration systems. The Group is specialized in medium and large refrigeration installations, in industrial refrigeration (logistics platforms, storage warehouses, food processing, etc.), commercial refrigeration (supermarkets, convenience stores, etc.) and air conditioning. The Group’s customer base relies on Syclef to manage its complex and critical refrigeration systems. The Group benefits from a key player position in the energy transition, using innovative sustainable technologies such as natural refrigerant fluids.

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Nordic Capital-backed Cary Group expands into France through acquisition of 123 Pare-Brise

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Nordic Capital

Cary Group, a European market leader in vehicle glass repair and replacement (VGRR) services, has signed an agreement to acquire 51% of the French company 123 Pare-Brise, a leading independent VGRR specialist in France.

Founded in 2020 and headquartered in Marquette-lez-Lille and Bourgoin-Jallieu, 123 Pare-Brise operates a network of 129 owned workshops across France. The acquisition provides Cary Group with a strategic entry into the French VGRR market, which has significant size and growth potential. As a leading player in the French market, 123 Pare-Brise operates with a fully integrated network of workshops and a business model that is focused on direct-to-consumer sales. The company employs just under 900 employees with total sales of approximately 100 MEUR.

“The acquisition of 123 Pare-Brise is a significant milestone for Cary Group as we continue to expand our presence in Europe. The French market for repair, replacement and calibration of vehicle glass is an important part of the European market. The acquisition of 123 Pare-Brise is a natural step in our consolidation journey and strengthens Cary Group’s position in Europe. We are impressed by the strong growth of the company, the exceptional quality of their services and workshop network and we look forward to working closely with their talented team“, says Anders Jensen, CEO of Cary Group.

“We are excited to join forces with Cary Group, a company that shares our commitment to quality and customer satisfaction. This partnership will enable us to leverage Cary Group’s resources and expertise to further enhance our services and expand our reach in the French market”, says Norbert Sibert, Alberic Bienvenu and Ludovic Vaesken, founders of 123 Pare-Brise.

The current management team of 123 Pare-Brise, will remain in place to ensure continuity and drive the company’s growth post-acquisition.

Cary Group’s acquisition strategy focuses on platform acquisitions to enter new geographic markets, add-on acquisitions to strengthen its presence in existing markets, and smaller acquisitions to improve its footprint and achieve additional scale. Over the past four years, Cary Group has made several key platform acquisitions, including Autoglass Clinic and Touring Glass in Belgium, Dansk Bilglas in Denmark, Autoglas in Luxemburg, Expressglass in Portugal, Auto Cristal Ralarsa in Spain, and Zentrale Autoglas in Germany. These acquisitions have not only increased revenue but also established Cary Group in new markets, contributing to the consolidation of the highly fragmented European VGRR market.

For further information, please contact:

Helene Gustafsson, Head of Corporate Communication, Cary Group
Tel: +46 70 868 40 50
Email: Helene.gustafsson@carygroup.com

 

About Cary Group
Cary Group specialises in sustainable solutions for vehicle glass repair and replacement, with a complementary offering in vehicle damage repair. With good accessibility, high-quality products and smart solutions, we help our customers make simplified and sustainable choices. We call it Smarter solutions for sustainable car care. For more information, please visit www.carygroup.com.

 

About 123 Pare-Brise

Founded in May 2020 by industry experts, 123 Pare-Brise is a French brand specializing in the repair and replacement of all types of auto glass. With fast, reliable and accessible services, it has established itself as a benchmark player in France. 123 Pare-Brise is based in the Hauts-de-France and Auvergne Rhône Alpe regions of France and relies on a branch network to guarantee consistent quality of service in all its centres. With its strong workforce, the company will have 130 centres by early 2025 and has a clear ambition: to become the leading independent integrated network in France.

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Smartfin closes third growth fund at €250 million with backing from EIF

Smartfin

investments in Europe’s leading B2B technology scale-ups

  • Smartfin closes its fifth fund (and third growth fund) at its €250m target.
  • Backers of the new fund include returning private and institutional investors as well as new ones, including for the first time the European Investment Fund through its ESCALAR program.
  • The new fund enables the firm to double down on investing in Europe’s most promising B2B technology companies, with now more than €600m in total investment commitments.
  • Two recent investments with the new fund, dubbed Smartfin Capital III, have already been announced: CrazyGames and Emma.

Brussels, Belgium – 9 January 2025: Smartfin, a leading growth equity investor in European B2B technology companies, has successfully closed its third growth fund at its €250 million target.

This fund marks a significant milestone for the firm, with an introductory participation of the European Investment Fund (EIF) through its ESCALAR program to address the financing gap experienced by European high-growth companies.

The closure of its third growth fund brings Smartfin’s total investment commitments to over €600 million, only a decade after its founding in 2014.

The successful fundraise, notably in challenging market conditions, underscores the trust and confidence of both new and returning investors in Smartfin’s investment strategy and track record.

The new fund, dubbed Smartfin Capital III, will focus on growth-stage B2B technology companies across Europe, furthering Smartfin’s commitment to supporting transformative tech scale-ups that drive innovation and deliver long-term value.

Smartfin has already made its first two investments with the new fund: CrazyGames (a global browser-based casual gaming platform) and Emma (a leading multi-cloud management platform designed to streamline and optimize cloud infrastructure).

A Proven Track Record of Success

Smartfin Capital III is the firm’s fifth fund, building on the success of its two early-stage funds (Smartfin Ventures I & II) and two prior growth funds (Smartfin Capital I & II). In the past decade, Smartfin has established itself as a key player in the European tech ecosystem, with a portfolio of innovative companies that span multiple sectors.

Notable active and past investments across its funds include Deliverect, a leading provider of food delivery integration software; Bright Analytics, a consolidated management reporting platform;  Recharge, a global one-stop-shop branded payments platform; Hex-Rays, a specialist in reverse engineering software; Zivver, a secure communications platform for email, video and file sharing; Silverfin, a cloud-based platform transforming accounting workflows acquired by Visma; Theo Technologies, a global leader in video streaming technology acquired by Dolby; Newtec, a pioneer in satellite communications acquired by ST Engineering; and UnifiedPost, a publicly listed fintech company revolutionizing invoicing and payments for SMEs.

For more information on our portfolio, please visit https://smartfinvc.com/portfolio/.

These investments demonstrate Smartfin’s ability to identify and support exceptional growth companies, helping them scale and succeed in competitive markets. Smartfin’s approach combines strategic guidance, operational expertise, a long-term view and access to an extensive network, ensuring that portfolio companies are well-positioned to achieve their growth ambitions.

“This successful fundraise reflects the strength of our team and the confidence our investors place in us.” said Jürgen Ingels, Founding Partner of Smartfin. “The partnership with EIF, through the ESCALAR program, is an international quality stamp that reaffirms our commitment to backing exceptional entrepreneurs and fostering innovation in Europe’s B2B technology ecosystem. We are excited to continue building on our strong track record and scaling the next generation of tech leaders.”

EIF Partnership: A Stamp of Quality

The inaugural participation of the EIF in Smartfin Capital III through its ESCALAR program represents a significant endorsement of Smartfin’s investment philosophy and performance.

ESCALAR, established by EIF to provide growth financing to high-potential funds and companies, will enable Smartfin to expand its impact and support more promising ventures across Europe, while at the same time providing a stepstone in further institutionalizing its operations.

“Investing in scale-ups and technology is not just about fostering innovation; it’s about empowering the next generation of leaders who will drive Europe’s economic growth and global competitiveness. With Smartfin we want to support an innovation ecosystem where European technology companies and entrepreneurship can thrive,” commented Marjut Falkstedt, EIF Chief Executive.

About Smartfin

Smartfin is a European venture and growth capital investor, managing over €600 million in investment commitments and investing in early and growth-stage B2B technology companies. Smartfin has an open-ended investment philosophy and invests throughout Europe. Smartfin’s team combines a successful venture capital and private equity investment track record with extensive operational experience in setting up, building, and managing leading international technology companies. This differentiates Smartfin as an experienced and entrepreneurial, truly hands-on and value-added partner to its portfolio companies. For more info, please visit https://www.smartfinvc.com.

About EIF

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of sustainability, innovation, research and development, entrepreneurship, growth and employment. For more info, please visit https://www.eif.org/index.htm.

 

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Paycor to be acquired by Paychex

Apax-Global-Alpha

The Apax IX Fund (“Apax IX”), in which Apax Global Alpha Limited (“AGA”) is a limited partner, has announced that portfolio company Paycor HCM, Inc. (Nasdaq: PYCR) (“Paycor”), a leading provider of human capital management (HCM) software, has entered into a definitive agreement with Paychex, Inc. (Nasdaq: PAYX) (“Paychex”) to be acquired in an all-cash transaction for $22.50 per share.

Including prior distributions, this transaction is expected to deliver a total gross Multiple on Invested Capital (“MOIC”) of 3.3x1 and a gross Internal Rate of Return (“IRR”) of 26%1 for Apax IX. The transaction values AGA’s look-through investment in Paycor at approximately €38m. This represents an uplift of c.69% to the last Unaffected Valuation2 and an uplift of c.€16m in the Net Asset Value (“NAV”) of AGA at 30 September 2024. The transaction is expected to close in H1 2025, subject to customary closing conditions.

Note that these figures relate to AGA’s look-through position of Apax IX’s overall investment in Paycor and are stated before taking into account any closing adjustments, fees, costs, Holdco facilities, and carried interest, and are translated based on the latest exchange rates available where applicable3.

The Apax Funds acquired a majority stake in Paycor in 2018 and took the Company public in 2021. Over the past six years, Apax has partnered closely with Paycor’s leadership team in the transformation of the company – accelerating its top-line growth, expanding it into tier one cities across North America, and building a modern HCM platform for the mid-market.

AGA, whose shares are listed on the London Stock Exchange, provides investors with access to a diversified portfolio of private equity funds advised by Apax as well as a focused portfolio of mostly debt investments. In 2016, AGA made a commitment of c. $350m to Apax IX4.

For more information about the transaction, please visit:
https://www.apax.com/news/press-releases/

END

Contact details:
Investor.relations@apaxglobalalpha.com

Footnotes

  1. Gross MOIC and Gross IRR shown for Apax IX EUR Fund
  2. Unaffected Valuation is determined as the fair value as at 30 September 2024
  3. Based on Bloomberg closing EUR/USD FX rate on 6 January 2025 of 1.039
  4. AGA’s commitment in Apax IX of c.$350m represents a commitment of $175m in the USD tranche and €154.5m in the euro tranche.

Notes

  1. Note that references in this announcement to Apax Global Alpha Limited have been abbreviated to “AGA” or “the Company”. References to Apax Partners LLP have been abbreviated to “Apax”, or “the Investment Adviser”.
  2. Please be advised that this announcement may contain inside information as stipulated under the Market Abuse Regulations (EU) NO. 596/2014 (“MAR”).
  3. his announcement is not for release, publication or distribution, directly or indirectly, in whole or in part, into or within the United States or to “US persons” (as defined in Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”)) or into or within Australia, Canada, South Africa or Japan. Recipients of this announcement in jurisdictions outside the UK should inform themselves about and observe any applicable legal requirements in their jurisdictions. In particular, the distribution of the announcement may be restricted by law in certain jurisdictions.
  4. The information presented herein is not an offer for sale within the United States of any equity shares or other securities of Apax Global Alpha Limited (“AGA”). AGA has not been and will not be registered under the US Investment Company Act of 1940, as amended (the “Investment Company Act”). In addition, AGA’s shares (the “Shares”) have not been and will not be registered under the Securities Act or any other applicable law of the United States. Consequently, the Shares may not be offered or sold or otherwise transferred within the United States, or to, or for the account or benefit of, US Persons, except pursuant to an exemption from the registration requirements of the Securities Act and under circumstances which will not require AGA to register under the Investment Company Act. No public offering of the Shares is being made in the United States.
  5. This announcement may include forward-looking statements. The words “expect”, “anticipate”, “intends”, “plan”, “estimate”, “aim”, “forecast”, “project” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding AGA’s intentions, beliefs or current expectations concerning, among other things, AGA’s results of operations, financial condition, liquidity, prospects, growth and strategies. The forward-looking statements in this presentation are based on numerous assumptions regarding AGA’s present and future business strategies and the environment in which AGA will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of AGA to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond AGA’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of regulators and other factors such as AGA’s ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which AGA operates or in economic or technological trends or conditions. Past performance should not be taken as an indication or guarantee of future results, and no representation or warranty, express or implied, is made regarding future performance. AGA expressly disclaims any obligation or undertaking to release any updates or revisions to these forward-looking statements to reflect any change in AGA’s expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based after the date of this announcement, or to update or to keep current any other information contained in this announcement. Accordingly, undue reliance should not be placed on the forward-looking statements, which speak only as of the date of this announcement.

About Apax Global Alpha Limited

AGA is a Guernsey registered closed-ended investment Company listed on the London Stock Exchange. It is regulated by the Guernsey Financial Services Commission.

AGA’s objective is to provide shareholders with capital appreciation from its investment portfolio and regular dividends. The Company is targeting an annualised Total Return, across economic cycles, of 12-15% (net of fees and expenses).

The Company makes Private Equity investments in Apax Funds, and has a portfolio of primarily Debt Investments, derived from the insights gained via Apax’s Private Equity activities.

Further information regarding the Company and its publications are available on the Company’s website at www.apaxglobalalpha.com.

About Apax

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For over 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of nearly $80 billion. The Apax Funds invest in companies across three global sectors of Tech, Services, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.

Apax is authorised and regulated by the Financial Conduct Authority in the UK.

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FTV Capital Completes Record $4.05 Billion Growth Equity Fundraise

FTV Capital

FTV VIII-Ascend_hero

Oversubscribed eighth flagship fund at $3.4 billion and inaugural Ascend fund at $651 million bring FTV’s total capital raised to over $10.2 billion. Alongside fundraise, FTV elevates and expands leadership team with new promotions.

NEW YORK & SAN FRANCISCO – FTV Capital, a prominent sector-focused growth equity investment firm, today announced the successful completion of its latest growth equity fundraise with $4.05 billion in capital commitments. Spanning two complementary funds – its eighth flagship fund, FTV VIII, and a new vehicle dedicated to smaller investments, FTV Ascend I (“Ascend I”) – the new capital allows FTV to deepen and expand its approach to supporting innovative, high-growth companies with equity checks ranging from $20 million to $300 million while maintaining a concentrated portfolio of investments in its funds. With this fundraise, FTV has raised over $10.2 billion, invested over $6.7 billion in 149 portfolio companies and realized over $7.4 billion since the firm was founded in 1998.

FTV VIII closed oversubscribed at $3.4 billion, surpassing its target and closing well-above FTV VII, its predecessor fund, which closed at $2.35 billion in March 2022. Ascend I closed oversubscribed at $651 million, also surpassing its target. Both funds will make control and minority equity investments in companies across the enterprise and financial technology landscape – areas where the firm has deep experience and expertise built over multiple decades. FTV VIII will target investments ranging from $60 million to $300 million, partnering with management teams to accelerate growth and expansion, and Ascend I will take the same approach with check sizes ranging from $20 million to $60 million.

“On behalf of the FTV partnership, I want to thank our colleagues, limited partners, portfolio companies, Global Partner Network® executives and countless collaborators in our extended network for their continued support as we carry forward the mission we’ve advanced for over 26 years – partner with the most visionary entrepreneurs who are shaping global industries and help them achieve their ambitious growth objectives,” said Brad Bernstein, managing partner at FTV Capital. “Since our founding, we’ve developed a distinctive model to support management teams – combining our flexible capital, deep domain expertise, expansive Global Partner Network® and value creation resources – rooted in the promise to build collaborative, long-term partnerships. Our strong results are a testament to our focus and the talented team members at FTV who relentlessly strive to be the very best champions for entrepreneurs. As growth equity plays an increasingly vital role in the innovation ecosystem, we’re thrilled to launch Ascend I alongside our flagship fund so that we can support more entrepreneurs across a broader equity check spectrum while ensuring that every FTV portfolio company benefits from the breadth and depth of our platform.”

The close of this fundraise follows a year of record momentum and results for FTV. In 2024, the firm deployed a record $1.6 billion and generated over $1.0 billion in realizations. New investments include Arden, BillingPlatform, Kore.ai, Orbus Software, ParkHub, VALD and Zema Global. Significant realizations include Agiloft, Docupace, Egress and Tango Card. FTV VIII and Ascend I are also off to a strong start with two announced investments in FTV VIII, including Orbus Software and Windward, and several soon-to-be-announced investments in both funds.

“In what’s been a challenging fundraising environment for many GPs, we are grateful for the overwhelming support from existing and new limited partners for both the next vintage of our flagship fund and the debut of Ascend I,” said Karen Derr Gilbert, partner and chief operating officer at FTV Capital. “Our limited partners share our conviction in FTV’s disciplined investing approach and our strong track record across market cycles. We look forward to putting this capital to work to generate exceptional outcomes for our investors and portfolio companies alike.”

With this fundraise, FTV announced the expansion of its leadership team with several promotions, including: 

  • Karen Derr Gilbert, who joined FTV in 1999 and became partner in 2013, will assume an expanded leadership role as partner and chief operating officer, in which she will lead strategic initiatives to help effectively drive the firm’s growth. Gilbert has been instrumental in leading FTV’s successful fundraising efforts and the institutionalization of its Global Partner Network. 
  • Mike Cichowski, who joined the firm in 2023 as a partner, was named co-head of FTV Ascend. Cichowski leads investments in financial technology and services. 
  • Alex Malvone was promoted to partner and co-head of FTV Ascend, alongside Cichowski. Malvone has been with FTV since 2013 and leads investments in enterprise technology and services with involvement in notable investments including EBANX, LogicSource, Paddle and RapidRatings. 
  • Brent Fierro was promoted to partner. Fierro has been with FTV since 2013 and leads investments in financial technology and services with involvement in notable investments including Enfusion, Lean Solutions Group, Masttro and Zema Global. 
  • Paul Cabral, chief financial officer, was promoted to partner. Since joining FTV in 2023, Cabral has had a significant impact on the firm’s financial operations and investor reporting. 

Kirkland & Ellis LLP served as fund counsel. 

About FTV Capital
FTV Capital is a sector-focused growth equity investment firm that has raised more than $10.2 billion to invest in innovative, high-growth companies across two sectors: enterprise technology and services and financial technology and services. Founded in 1998, FTV has developed a highly differentiated and disciplined growth equity model, which leverages the firm’s deep domain expertise and thematic investing approach to help portfolio companies accelerate growth. FTV also provides companies with access to its Global Partner Network®, a strategic group of more than 600 executives from many of the world’s leading financial services firms and FTV Propel®, an in-house team of seasoned operational leaders who deliver counsel and resources across a range of critical business functions. For more information, please visit www.ftvcapital.com and follow the firm on LinkedIn.

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Ardian Semiconductor Completes Acquisition of Synergie Cad Group, a Leading Semiconductor Test Interface Company

Ardian

Ardian, a world-leading private investment house, announces that it has completed the acquisition of Synergie Cad Group, a leading player in the design and manufacture of semiconductor test interface solutions. This acquisition follows the acquisition of IBS in October 2024 and represents the second investment of Ardian Semiconductor, the pioneering private equity investment platform dedicated to the semiconductor industry, formed through an exclusive strategic partnership with Silian Partners.

Founded in 1986 and based in Carros, France, Synergie Cad specializes in the development of advanced test interface solutions enabling leading semiconductor companies to optimize the testing and validation of their complex chip designs. With a strong reputation for quality, reliability, and customization, across a wide range of semiconductor applications, Synergie Cad has established itself as a trusted partner to a diverse range of customers globally.

Through this acquisition, Ardian Semiconductor aims to accelerate Synergie Cad’s growth by leveraging its extensive industry expertise and global network, enabling the company to expand its product offering and enhance its market position. The partnership will focus on innovation, operational efficiency, and augmented customer intimacy, providing the company with the resources it needs to scale and meet growing demand for increasingly sophisticated test interface solutions.

Prior to the acquisition, Synergie Cad was owned by Alain Librati, the management team, Prudentia Capital, and BNP Paribas Développement. Ardian Semiconductor acquired a controlling stake in the company, whilst Alain Librati, the management team and BNP Paribas Développement have reinvested as minority shareholders.

“We are thrilled to partner with Ardian and Silian Partners, who bring a unique set of financial, strategic and operational capabilities, which will be invaluable to help us accomplish our ambition to accelerate our growth and continue to enhance the value we deliver to our customers. We are thankful to Prudentia Capital and BNP Paribas Développement who have supported us since 2020 to invest in a state-of-the-art manufacturing facility in Vietnam, which will be a strategic asset underpinning our future growth strategy.” Alain Librati, CEO and Co-founder, Synergie Cad

“We are honored to join forces with Synergie Cad, which strongly aligns with our mission to transform proven European technology companies into global leaders in their market segment. We are committed to bringing the required resources and support to Alain Librati and his team to help them fulfill the potential of the company.” Lise Fauconnier, Senior Managing Director, Ardian

“We have been impressed by Synergie Cad’s technical achievements, know-how and excellent reputation with customers globally. This represents an ideal foundation for us to build upon and create value by bringing our experience and expertise in strategically pivoting and scaling companies.” Christophe Duverne, Partner, Silian Partners

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $176bn of assets on behalf of more than 1,720 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.

At Ardian we invest all of ourselves in building companies that last.

Ardian Semiconductor, a pioneering private equity investment platform dedicated to the semiconductor industry, was formed by Ardian through an exclusive strategic partnership with Silian Partners, a team of highly successful senior executives from the semiconductor industry totaling more than 140 years of experience, contributing unique industry relationships, strategic vision, and operational focus. Ardian and Silian Partners work as One Team to bring innovative and flexible capital solutions, as well as strategic and operational capabilities, to transform strong technology companies into global leaders in their market segments. Ardian Semiconductor is uniquely positioned to seize opportunities in the semiconductor industry, a critical enabler of the digital transformation, AI revolution and green transition of the global economy. The industry is forecasted to double in size over this decade to reach $1 trillion by 2030 driven by powerful and predictable technology megatrends.

ardian.com

ABOUT SYNERGIE CAD

Founded in 1986 and headquartered in Carros, France, Synergie Cad has been designing and manufacturing semiconductor test interfaces alongside complementary services for the world’s most complex test applications for over 35 years. With design and manufacturing operations strategically located throughout Europe, Asia and North America, Synergie Cad is well positioned to seamlessly provide test interface solutions to our Global customer base.

synergie-cad.com

ABOUT BNP PARIBAS DEVELOPPEMENT

BNP Paribas Développement is an independent subsidiary of BNP Paribas which has for more than 35 years taken minority stakes in successful SMEs to support their growth and secure their long-term development by facilitating their transmission. In addition to providing the financial resources that permit stability, BNP Paribas Développement’s mission is to assist management teams in carrying out strategic medium-term projects. As a minority shareholder we provide our partners with appropriate governance without interference in day-to-day management. They also benefit from the strength of a leading banking group and the experience of a partner with more than 500 diversified investments, including 80 startups.

bnpparibasdeveloppement.com

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Main Capital Partners announces investment in Dutch automotive software player UnameIT

Main Capital Partners

This investment marks Main’s entry into the automotive software market, a large segment with significant untapped potential.

Founded in 1996 and headquartered in Woerden (NL), UnameIT is a leading provider of automotive software solutions across the Benelux region. The company’s integrated suite of solutions helps customers manage their total commercial sales and aftersales processes, including lead management, targeted sales management, marketing campaigns and retargeting. Additionally, UnameIT offers a range of other complementary products that together provide end-to-end coverage of the commercial processes of automotive dealerships and OEM’s (Original Equipment Manufacturer).

The automotive market is vast and evolving, and still ranks relatively low in terms of its level of digitization, offering an abundance of opportunities for software providers with innovative offerings. Thanks to strong leadership and a differentiating suite of solutions, UnameIT represents an attractive platform for Main with a market leading position. UnameIT’s client base mostly consists of large dealers, including single-brand dealers, multi-brand dealers and independent automotive companies. Furthermore, UnameIT’s customer base also includes OEM’s, leasing companies and importers, a.o. serving brands such as Renault, Ford, Van Mossel, Stellantis and Bosch.

Collaboration between UnameIT and Main
The management team of UnameIT will retain a significant minority stake and will stay closely involved post-closing. Main will leverage its experience in B2B software markets to support the management in further internationalization of the company (i.e. into the DACH-region, where the business is already taking its first steps). UnameIT’s growth strategy will aim to grow the company internationally, both organically, as well as through a selective buy-&-build strategy.

Robert van Adelerhof, CEO of UnameIT, said, “We are very happy to announce our partnership with Main, as this is the right time for us to extend our reach. Over the years, we’ve built UnameIT to what it is today: a software supplier for automotive dealerships in the Benelux-region, among which the majority of the largest dealer holdings. Our tools are focused on helping dealerships navigate their core processes in a more efficient way, helping them to gain more control over their processes, and improve their commercial performance and bottom-line results. The partnership with Main will try to help us reach our goal to become a leading European automotive software player, as their proven track record in B2B SaaS will be invaluable in guiding us through the next phase of growth of our company.”

Jeffrey Sanya, Investment Director at Main, concluded, “We are excited to announce that Main is partnering with UnameIT, a prominent player in the Dutch automotive software market. UnameIT plays a crucial role in supporting the largest dealerships in the Netherlands, within an industry that presents significant growth potential. We see numerous opportunities to assist the team in advancing digital transformation in the sector and expanding UnameIT’s suite into neighboring markets, such as Germany. We look forward to embarking on this new partnership and, alongside the management team, we are committed to guiding UnameIT to become a leading European automotive software provider.”

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