Category Archives: News

CapMan Infra invests in Napier, a leading provider of critical transportation infrastructure for the aquaculture industry

Capman

CapMan Infra invests in Napier, a leading provider of critical transportation infrastructure for the aquaculture industry

CapMan Infra has agreed to invest in Napier, the largest salmon harvest vessel operator in Norway and a leading harvest vessel specialist globally. The company has a fleet of six vessels and serves the world’s largest aquaculture companies.

Napier was established in 1995 and is the first harvest vessel specialised shipowner in the world, active in the segment since 2008. Headquartered in Bømlo, Norway, Napier employs approx. 75 people.

Harvest vessels are used for the processing and transportation of grown salmon from farms at sea to onshore facilities. The adoption of such vessels is expected to increase, as harvest vessels secure the best fish welfare, improved biosecurity and increased transport efficiency. Fish mortality during transportation can be fully eliminated using harvest vessels, while CO2 emissions per kg of transported fish can be substantially reduced. The enhanced biosecurity offered by harvest vessels also reduces the risk of spreading of disease to both farmed and wild fish.

The sector is underpinned by strong macro trends, including growing global protein consumption and demand for farmed salmon. More than 50% of the global salmon supply is farmed in Norway and the activity is closely regulated by authorities, which supports the use case for harvest vessels.

Napier is currently owned by the company’s key personnel, together with Amar Group and Kverva. Key personnel are reinvesting alongside new majority owner CapMan Infra.

“We are highly impressed with the service quality Napier can deliver to its clients, and believe the company has significant further growth potential. The business also has strong infrastructure characteristics and provides mission-critical services to ensure the safe supply of food. We look forward to supporting Napier in growing the business”, says Pekko Haaksluoto, Partner at CapMan Infra.

“We are happy to have concluded the process with CapMan Infra and to have them as our new majority owner. CapMan Infra has impressed us with their commitment to the harvest vessel concept and continued support for a high-quality service offering to our current and future customers. Having CapMan Infra as our new majority owner provides a solid foundation for further growth and development and we are very excited about the future of Napier alongside our new owner”, says Kjetil Tufteland, CEO of Napier.

The investment is CapMan Nordic Infrastructure II fund’s second investment. The investment will promote environmental and social characteristics as defined for the fund. Overall, Napier promotes improved biosecurity and fish welfare in the salmon farming industry and reduces the GHG emission footprint per kg of harvested salmon compared to available alternatives in the market, i.e. traditional wellboats.

For more information, please contact:
Pekko Haaksluoto, Partner, CapMan Infra, p. +358 40 584 6031

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services. Altogether, CapMan employs around 190 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

About Napier

Napier is the leading harvest vessel operator in Norway and the first harvest vessel specialised shipowner in the world. The company was established in 1995 and has been active in the harvest vessel market since 2008. Napier has a fleet of six vessels. The company is headquartered in Bømlo, Norway and employs approx. 75 people. Visit www.napier.no for more information.

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Ardian supports Norvestor’s acquisition of Rantalainen

Ardian
  • 06 February 2023 Private Credit Finland, Helsinki

Ardian, a world-leading private investment house, has provided financing to support Norvestor’s acquisition of Rantalainen, a leading Nordic full-service provider of outsourced accounting and payroll services.

Rantalainen is the largest financial administration services provider in Finland, serving 20,000 SMEs within a fragmented Nordic business process outsourcing market. The Company’s services comprise outsourced accounting and bookkeeping services, payroll administration and HR services, as well as expert services. Rantalainen, founded in 1972, employs circa 1,200 professionals across 60 different locations in Finland. Due to its business-critical service and close relationships with its customers, the business has close to a 100% net revenue retention, with low customer churn.

The Private Credit team at Ardian provided unitranche financing coupled with a Committed Acquisition Facility that can be drawn on to support Rantalainen’s growth ambitions. The transaction continues the long-standing relationship between Norvestor and Ardian.

“Rantalainen provides business critical services to a highly granular and diverse client base, positioning it as the market leader in Finland and a highly attractive investment. The financing structure is an example of our ability to deliver a flexible and tailored solution, which will support the company’s ambitious acquisition plans in the Nordic region. We look forward to supporting the company’s growth and we are pleased to be backing Norvestor again, continuing to build our close sponsor relationships within a region of growing importance”. Stuart Hawkins, Head of Private Credit UK, Ardian

“Rantalainen has built a solid foundation in recent years, strengthening both the platform and the market position of the Company. Rantalainen is now ready for its next phase, and Ardian is the right financing partner for us as we embark on that journey. With Ardian’s backing, we look forward to establishing a Nordic leader within financial administration services”. Marika Af Enehjelm, Pertner, Norvestor Advisory

The transaction is expected to close during Q1 2023, subject to customary closing conditions.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $140bn of assets on behalf of more than 1,400 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 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 is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1000+ employees, spread across 16 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

Press contact

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Sycamore Partners Completes Acquisition of Lowe’s Canadian Retail Business

Sycamore

NEW YORK – Feb. 3, 2023 – Sycamore Partners, a private equity firm specializing in retail, consumer, and distribution-related investments, today announced that it has completed its acquisition of Lowe’s Canadian retail business, which will now operate under the name RONA inc. With headquarters in Boucherville, Québec, RONA operates or services approximately 450 corporate and independent affiliate dealer stores under several banners, including RONA, Lowe’s, Réno-Dépôt and Dick’s Lumber.

“We are excited to announce that RONA is once again an independent company headquartered in Boucherville, Quebec,” said Stefan Kaluzny, Managing Director of Sycamore Partners. “We are honored that Lowe’s has entrusted Sycamore Partners to lead RONA into its next chapter and build upon RONA’s 84-year history serving communities across Canada. We look forward to working with RONA’s 26,000 associates and over 200 dealer partners to meet the home improvement needs of Canadian families, builders, and contractors.”

“Today’s announcement represents the beginning of a new chapter in RONA’s long and rich history,” said Tony Cioffi, President of RONA inc. “With Sycamore’s support and expertise, we will continue to provide outstanding service and products for our customers’ home improvement and construction projects.”

About RONA inc.

RONA inc. is one of Canada’s leading home improvement retailers and is headquartered in Boucherville, Québec. The RONA inc. network operates or services some 450 corporate and affiliated dealer stores under the RONA, Lowe’s, Réno-Dépôt, and Dick’s Lumber banners. With a long and rich history, RONA inc. has supported Canadians in their home improvement and construction projects since 1939. To achieve this, the company relies on a team of 26,000 employees, to whom it strives to provide an inclusive workplace where everyone is invited to contribute. RONA inc. is one of the Montréal region’s Top Employers since 2021. As a result of its ongoing efforts in sustainable development, the company was awarded the Stratégie de développement durable Mercure in 2022 and is recognized as one of Canada’s Greenest Employers. To learn more about the company, visit the website www.ronainc.ca.

About Sycamore Partners

 Sycamore Partners is a private equity firm based in New York. The firm specializes in retail, consumer, and distribution-related investments and partners with management teams to improve the operating profitability and strategic value of their business. With approximately $10 billion in aggregate committed capital raised since its inception in 2011, Sycamore Partners’ investors include leading endowments, financial institutions, family offices, pension plans and sovereign wealth funds. For more information on Sycamore Partners, visit www.sycamorepartners.com.

Contacts

Sycamore Partners

Michael Freitag or Arielle Rothstein

Joele Frank, Wilkinson Brimmer Katcher

212-355-4449

 

media@sycamorepartners.com

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Carlyle and Stellex Reach Definitive Agreement to Sell Titan to an Affiliate of Lone Star Funds

Carlyle

Dallas, Texas, New York, NY, Portland, OR, – Funds managed by global investment firm Carlyle (NASDAQ: CG) and private equity firm Stellex Capital Management today announced a definitive agreement to sell Titan Acquisition Holdings, a bi-coastal leader in ship repair services and marine and heavy complex fabrication, to an affiliate of Lone Star Funds.

The transaction is expected to close in 2023 upon satisfaction of customary closing conditions, including certain governmental approvals. Financial terms were not disclosed.

Titan is comprised of Vigor Industrial LLC, an infrastructure, defense, and maritime services company based in Portland, Oregon; MHI Holdings LLC, a ship repair, maintenance, and other ship husbandry services company based in Norfolk, Virginia; and Continental Maritime of San Diego (CMSD).  Key Titan customers include the U.S. Navy, U.S. Coast Guard, Military Sealift Command, Boeing, cruise lines, fishing fleets, barges, ferry services for local and state governments, and other key commercial U.S. Government customers.

Derek Whang, Managing Director at Carlyle, said: “We are proud of the many accomplishments of the Titan team over the course of our partnership. Throughout a particularly unprecedented time, with the pandemic and supply chain constraints, the Titan team has continually executed on its strategy to successfully grow the business, refine its market segments, and expand into new geographic territories. Titan is well-positioned to maintain its positive trajectory, and we wish the team continued success in its next phase of growth.”

David Waxman, Managing Director, Stellex, said: “From the moment Stellex acquired MHI in 2015, we have partnered with management to capitalize on changing market dynamics to build a stronger company to further serve customers with quality and reliability. The result of our investment focus was the combination of MHI with Vigor and the formation in 2019 of Titan, now a bi-coastal leader in critical ship repair services, and commercial and defense-related fabrication services. It was an incredible experience working closely with the talented Titan team, and we look forward to seeing the company continue to prosper.”

Jim Marcotuli, Titan Chief Executive Officer, said: “We are grateful to Carlyle and Stellex for enabling the strategic investments made over the past several years, which include the acquisition of CMSD, the repurchase of critical assets, and investments in technologies and equipment aimed at improving our service offerings.”

Marcotuli continued: “Titan and its operating companies will remain rooted in existing values and focused on priorities of Safety, Compliance, Quality, Customer and Competitive.  Under new ownership, we will focus on sustaining improvements made, identifying additional areas of improvement, and opportunities for future growth.  Valued customers will continue to see Titan operating companies deliver high quality service in everything we do.

“We see this transaction with Lone Star, when completed, as the next step in our evolution, representing a belief on their part that Titan entities are on a steady and positive path to sustainable growth.”

Jim Marcotuli will continue in his current role as Titan CEO, and other company leadership is expected to remain intact.
Kirkland & Ellis LLP is serving as legal counsel and Lazard served as financial advisor to Lone Star.  Latham & Watkins, LLP is serving as legal counsel to Titan, Carlyle, and Stellex, and BofA Securities and Evercore served as financial advisors.

About Lone Star
Lone Star, founded by John Grayken, is a leading private equity firm advising funds that invest globally in real estate, equity, credit, and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized 22 private equity funds with aggregate capital commitments totaling approximately $86 billion. The firm organizes its funds in three series: the Commercial Real Estate Fund series; the Opportunity Fund series; and the U.S. Residential Mortgage Fund series. Lone Star invests on behalf of its limited partners, which include institutional investors such as pension funds and sovereign wealth funds, as well as foundations and endowments that support medical research, higher education, and other philanthropic causes. For more information regarding Lone Star Funds, go to www.lonestarfunds.com.

About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $369 billion of assets under management as of September 30, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,100 people in 29 offices across five continents.

Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

About Stellex Capital Management
With offices in New York, Detroit, Pittsburgh, and London, Stellex is a private equity firm with over $2.6 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that have the potential to provide stability, improvement, and growth. Portfolio companies benefit from Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insight, and access to capital. Sectors of particular focus include specialty manufacturing, industrial and business services, aerospace & defense, automotive, government services, transportation, logistics and food. Additional information may be found at www.stellexcapital.com.

About Titan Acquisition Holdings
A family of bicoastal leaders in ship repair, ship modernization, marine and complex fabrication services, Titan Acquisition Holdings was formed by global investment firm The Carlyle Group and private equity firm Stellex Capital Management following their 2019 acquisition of MHI Holdings and Vigor. Titan is the parent company of Vigor, operating in the Pacific Northwest, Hawaii and Alaska; MHI, based in Norfolk, Virginia; and Continental Maritime of San Diego (CMSD) in California. Notable Titan family customers include Boeing, Lockheed Martin, Northrop Grumman, U.S. Navy, Military Sealift Command, Maritime Administration, U.S. Army, local and state ferry systems, and commercial ship owners.

Media Inquiries:
Lone Star – Christina Pretto | 212.849.9662 | mediarelations@lonestarfunds.com
Carlyle – Brittany Berliner | 212.813.4839 | brittany.berliner@carlyle.com
Stellex – Rosalia Scampoli |212.537.5177 x7 | rscampoli@marketcompr.com
Titan – Jill Mackie | 206.498.5298 | jill.mackie@vigor.net

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Stahl to acquire ICP Industrial Solutions Group, significantly growing and diversifying its specialty coatings activity

Wendel

Wendel (Euronext: MF.FP) announces today that Stahl has signed an agreement to acquire ICP Industrial Solutions Group (ISG), a leader in high-performance packaging coatings, which will reinforce Stahl’s position as the global leader in the field of specialty coatings for flexible materials. ISG, a division of the ICP (Innovative Chemical Products) Group, offers a comprehensive portfolio of high-performance coatings used primarily in packaging and labeling applications, notably in the resilient food and pharmaceutical sectors.

It is mostly present in North America (close to 70% of sales), where it is a recognized technical leader. ISG coating technologies (water-based and energy cured1) help its customers transition to more sustainable packaging. ISG is expected to report 2022 sales of c. $140 million. Following this acquisition, Stahl sales will cross the €1 billion mark with an EBITDA margin above 20%. The transaction will be carried out at an enterprise value of c. $205 million.

Concurrently, Stahl has secured a new financing of $580 million with a group of relationship banks, extending maturities until 2028. It will be available to finance this acquisition, refinance its existing credit facilities and fund future external growth, with a focus on specialty coatings opportunities. The ISG transaction is expected to close before the end of Q1 2023, subject to customary conditions.

Maarten Heijbroek, CEO of Stahl, said: “ISG is a strong strategic fit for Stahl, given the complementary nature of our business models, technologies, and footprints. The acquisition will enhance Stahl’s growth profile, diversify our target markets, and broaden our technology base. Going forward, specialty coatings will represent approximately 75% of group sales2. ISG will be able to take advantage of Stahl’s know-how and ESG leadership position to support the transition towards more sustainable value chains. We are excited about this opportunity and look forward to welcoming the excellent ISG team into the Stahl family.”

Laurent Mignon, CEO of Wendel, said: “Wendel is pleased to have another opportunity to support Stahl in its successful growth trajectory. As a long-term investor, Wendel always encourages its portfolio companies to grow both organically and inorganically. After the successful acquisitions and integrations of Clariant LS in 2014 and BASF LC in 2017, and following the acquisition of ISG, Stahl
1 Energy-cured coatings are recognized to provide significant advantages in terms of faster cure times, often improved coating properties, reduced Volatile Organic Compounds, waste, and energy consumption, and smaller manufacturing footprints
2 Based on pro forma sales including ISG. Specialty coatings include existing performance coatings and leather finish activities plus ISG.
2/3
sales will exceed the €1 billion mark. The company is making another major step in its strategy to become the global leader in the field of specialty coatings for flexible materials.”

About ICP Industrial Solutions Group
For more information: https://www.icpindustrial.com/about/
Find here the key milestones of Wendel investment in Stahl since 2006: https://www.wendelgroup.com/en/companies/stahl/

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AE Industrial Partners to Sell ENERCON to Oaktree

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Ae Industrial Partners

Boca Raton, FL – February 8, 2023 – AE Industrial Partners, LP (“AEI”), a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets, announced today that it has entered into a definitive agreement to sell Enercon Services, Inc. (“ENERCON” or the “Company”), a multi-disciplinary engineering and environmental services firm, to funds managed by Oaktree Capital Management, L.P. (“Oaktree”). AEI will retain a minority interest in ENERCON. Terms of the transaction were not disclosed.

Acquired by AEI in February 2021 and founded in 1983, ENERCON provides engineering and environmental services to customers in the power generation, power delivery, and related markets, including nuclear, renewable and conventional power generation, transmission and distribution, distributed generation, battery storage, and EV infrastructure. With over 1,500 employees, ENERCON offers a broad range of professional services to private and public sector clients throughout the United States and internationally, including engineering design, regulatory, environmental protection, compliance, and inspection services.

“Over the course of our ownership, we worked closely with the ENERCON team to build upon its strong foundation and expand its service offerings and geographic reach,” said Michael Greene, Managing Partner at AEI. “ENERCON has solidified its position as a leader in specialized engineering services, and we believe that the Company is well positioned to benefit from the attractive tailwinds in its energy and environmental end markets.”

“Our partnership with AEI enabled us to deliver on our growth strategy,” said Robert Bryan, President of ENERCON. “We are optimistic that the continued criticality of power generation, ongoing investment in the power grid, and increased adoption of distributed and renewable power generation will allow us to achieve next level growth.”

“We are proud of what ENERCON has accomplished over the last two years and have enjoyed our partnership with this great team,” said Bryan McElwee, Principal at AEI. “We look forward to the Company’s continued success as a trusted partner to a large and growing group of blue-chip customers across their energy production and delivery infrastructure needs.”

Harris Williams served as financial advisor and Kirkland & Ellis LLP served as legal advisor to AEI on the transaction.

About ENERCON

ENERCON is a multi-discipline engineering and environmental services firm focused on delivering safe and efficient solutions for the power and industrial sectors. With 20 offices across the United States, ENERCON’s engineering capabilities cover a wide range of disciplines and expertise including Electrical, I&C, Mechanical, Civil Structural, Chemical, Environmental and Special Licensing. Together with its clients, ENERCON is dedicated to bringing solutions for America’s energy infrastructure. For additional information, please visit ENERCON’s website at www.enercon.com.

About AE Industrial Partners

AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from our deep industry knowledge, operating experience, and relationships throughout our target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative. Learn more at www.aeroequity.com.

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CONTACT:

Lambert
Jennifer Hurson
845-507-0571
jhurson@lambert.com

or

Beth Wiegard
616-258-5777
bwiegard@lambert.com

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FMTC safety welcomes Smile Invest as partner for next growth phase

Fields Group

On 31st of January Benelux investor Smile Invest has acquired a majority stake in FMTC safety. FMTC safety is a market leading player in the field of certified safety training for professionals in the (off-/onshore) wind, oil & gas and maritime sectors. Smile Invest, together with management, acquires the shares from investor FIELDS Group and founder Rob Bruinsma.

FMTC safety, founded in 2014, provides certified safety training for professionals in the (off-/onshore) wind, oil & gas and maritime markets. FMTC safety has obtained a market leading position in the Netherlands and has – since opening its first location abroad in 2019 – obtained an ever more important role in the worldwide market. FMTC safety has, next to its 6 locations where training is provided, a strong digital platform and e-learning environment. FMTC safety is situated on a unique location next to Schiphol Amsterdam, with locations in the Netherlands, France, Saudi-Arabia and the United States. Together with management, Smile Invest acquires the shares from founder Rob Bruinsma and FIELDS Group, who have supported the business since 2017 in further expanding the business. The current management will stay in place and also Rob Bruinsma will remain involved with FMTC Safety.

Michel Hogervorst (CEO), who is leading the business since 2020 and has played an important role in the internationalisation and professionalisation of the business, will remain active in his current role and will co-invest alongside Smile Invest: “Smile Invest joining FMTC safety marks the start of the next growth phase of the business. Smile Invest brings an abundance of experience in the field of international expansion. Together with the management team, Rob Bruinsma and FIELDS Group we have expanded the business from a local player into a worldwide renowned player in the field of safety training. In this next phase, where quality will remain paramount while we will further expand the business, we believe that Smile Invest with its broad international network and entrepreneurial approach will be of great value for FMTC safety.”

Ivo Vincente and Ad Notenboom, (Managing) Partners at Smile Invest, add: “We are impressed with the professionalism and quality of the organisation in combination with the international position that FMTC safety has obtained in this relatively short period of time. We strongly believe in the further international growth ambitions through which FMTC safety can further expand its market share through organic and inorganic growth. The entrepreneurial character, combined with its strong growth ambitions, exposure to the durable wind sector and the ever increasing focus of the business on the digital environment fit perfectly within our investment focus. We look forward to support FMTC safety in this next phase of growth.

Joris van Gils, Partner at FIELDS Group: “With great pleasure we have teamed up with FMTC safety, Rob Bruinsma, Michel Hogervorst and the entire team to further professionalize the business and internationalize FMTC safety. Together we managed to triple the business in size and develop the company from one training location to a worldwide provider of safety training with 6 locations without loosing its DNA based on entrepreneurship, flexibility and quality. We wish FMTC safety, the entire team and Smile Invest the best in the further development of the business.”

About Smile Invest:

Smile Invest (Smart Money for Innovation Leaders) is a European evergreen investor with €350 million capital under management, backed by 40 entrepreneurial families with a long term focus on innovative and growing companies. Smile Invest focuses on companies around three investment themes: digitalisation, healthcare & well-being and sustainability and currently has a portfolio of 15 companies. From its offices in The Hague and Leuven the team supports ambitious entrepreneurs and managers in realising their growth plans.

Contact Smile Invest:
Ivo Vincente, Managing Partner • ivo.vincente@smile-invest.com ) +31 622 91 92 32

Ad Notenboom, Partner • ad.notenboom@smile-invest.com ) +31 6 54 28 60 98

About FIELDS Group:

FIELDS Group is an entrepreneurial hands-on investor focused on developing companies with potential. FIELDS Group invests in companies with headquarters in Benelux and the DACH region and realizes true transformations with its team.  www.fields.nl

Contact FIELDS Group:
Joris van Gils, Partner • j.vangils@fields.nl ) +31 641 31 33 39

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Arcus IT Group and Infradax join forces

Egeria

ZWOLLE, 1 February 2023 – IT service provider Arcus IT Group, which runs eight sites up and down the Netherlands, is adding Infradax to the group. “The takeover of Infradax sees Arcus IT double in size and acts to create a company that ranks among the top ICT service providers in the Netherlands. Infradax is bringing a number of interesting activities, services and market segments to the table and increasing our nationwide coverage with new locations. Infradax’ seasoned and spirited management team is also investing in the group in its own name. We consider them to be a major asset which, along with our investor Egeria, will help us to deliver on our growth ambitions in going forward”, comments Arcus IT Group CEO Rob Verbeek.

Solid market position 
Like Arcus IT, Infradax is a nationwide IT service provider that assists organisations with continuity, productivity and innovation through IT resources. Alongside Datacenter & Cloud, Modern Workstations and IT Security, Infradax specialises in circular IT services. Infradax mainly operates in the (health) care and business markets. In addition, Infradax Overheid focuses on municipalities and local authorities with specialist service delivery in the areas of application management and data management. As a result of a series of takeovers, in recent years Infradax has grown to become an organisation that is home to around 175 staff and five sites. In joining forces, we are moving to the next level with 425 enthusiastic staff members and 13 sites across the Netherlands.

The parties have submitted the proposed transaction to the Netherlands Authority for Consumers and Markets (ACM) and both works councils.

Nationwide IT service provider with regional presence
Infradax CEO Tjeerd van ‘t Veld: “We have grown quite a bit in recent years, not just in size but also in terms of our know-how and portfolio, in part courtesy of a number of takeovers. This next step will enable us to jointly work towards accomplishing our ambition to become the best nationwide IT service provider with a regional presence. In this sense, our visions are highly complementary. There is a degree of overlap in terms of services and client segments, but there is also a strong element of broadening our scope of operations, which will allow us to serve our clients even better than before. We are looking forward to implementing the next forward steps in developing our organisation in tandem with Arcus IT.”

The current year will be used to jointly lend concrete shape to our plans and to launch our working relationship in every respect. “Needless to say we are keen to give our clients the full benefit of our combined portfolio. However, in light of our size and the importance of continuity of service delivery to our clients, we do not want to act with undue haste”, explains Rob Verbeek.

Arcus IT Group
Arcus IT is a leading player on the Dutch market with well over three thousand clients in several focus sectors, including accountancy, healthcare, culture and SMEs. Arcus IT delivers a wide portfolio of products and services, including online work stations, Microsoft 365, IT security, AFAS implementation partner, VoIP phone services, Dynamics 365 and online back-up solutions. In order to efficiently serve its clients, Arcus IT Group has a proprietary Cloud platform and uses public Cloud services such as Microsoft Azure.

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FSN Capital VI acquires a majority stake in ilionx

Egeria

AMSTERDAM, 1 February 2023 – Egeria and FSN Capital VI (“FSN”) have completed the sale of ilionx, a leading IT-Services provider of business critical services to healthcare institutions, (semi) governmental organizations and commercial companies with over 500 employees.

Egeria’s investment in ilionx underscores Egeria’s focus on entrepreneurial team-ups with strong founders and ability to simultaneously execute on a high growth business case (i.e. buy and build) while transforming the organization and eliminating founder dependency.

Together with the founders and management, Egeria invested in ilionx in June 2017 to create a national IT services player with a broad service portfolio through an active buy-and-build strategy. In April 2018, ilionx doubled in size and created national coverage with the acquisition of IT service provider QNH. In 2019, ilionx strengthened its vertical focus with the acquisition of ICTZ, a healthcare specialist. In 2021-2022, ilionx announced five more acquisitions aimed at specific competences, incl. Rubix (integration), Le Blanc (architecture), Redbook (Salesforce), You-Get (hyperautomation) and Trivento (Java). During our investment period, revenue grew from €55 million to more than €200 million, a new management team took over the leadership role from the founders and the acquisitions were integrated into a strengthened, scalable organization.

About ilionx
ilionx is a B2B IT service provider that offers digital strategy, cloud-oriented application development, data & AI solutions, hyperautomation services and managed services. Headquartered in Utrecht, ilionx has national coverage with over 1,200 employees across thirteen locations in the Netherlands. ilionx was founded in 2002 and has over time demonstrated a strong ability to grow with its customers and become a trusted, long-term technology-independent IT-services provider.

About Egeria
Established in 1997, Egeria is an independent Dutch investment company focused on mid-sized companies in the Netherlands and DACH region. Egeria invests in healthy businesses with an enterprise value of between EUR 50 million and EUR 350 million, and believes in building businesses jointly with entrepreneurial management teams (Boldly Building Together). Egeria Private Equity Funds has interests in 14 companies in the Netherlands and Germany, while Egeria Evergreen has investments in 7 companies. Egeria’s portfolio companies generate combined revenues of more than EUR 2 billion and employ more than 12,000 people.

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AURELIUS portfolio company VAG acquires FKB Válvulas

Aurelius Capital
  • Second Brazil Add-on following the acquisition of RTS Válvulas in 2022
  • Increases local manufacturing capacity and expanding its global customer base
  • Further strengthens VAG’s pole position as the world’s leading supplier of water and wastewater valves

Munich/Mannheim/São Paulo, February 1, 2023 – VAG, a portfolio company of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8), announces the Add-on acquisition of FKB Válvulas, a specialist Brazil-based valve manufacturer.

VAG’s acquisition of FKB aims to strengthen the company’s product offering across penstocks and knife gate valves, as well as increasing its footprint in Brazil and expanding its customer base globally. This adds to VAG’s acquisition of RTS Válvulas in 2022, another supplier of valves headquartered in São Paulo, Brazil.

Founded in 2000, FKB specialises in the bespoke design and manufacturing of penstock and knife gate valves for customers operating in water, wastewater, dam & hydro, and other industries. The company’s foundations are built on serving its customers right across the value chain from the modelling and consultation phase right to the manufacturing and implementation of its valves.

About VAG Group

VAG is one of the leading manufacturers of valves for water treatment and distribution, wastewater systems, dams and hydropower. The company has been under AURELIUS Group ownership since November 2018. VAG is known throughout the world for its market-leading water valves since 150 years.

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