Category Archives: News

AnaCap signs agreement to acquire majority stake in Yard Reaas, a leading investment services provider and property management platform

Anacap

AnaCap, a market-leading private equity investor specialised in partnering with founders and entrepreneurial management teams, across services, technology and software within the European financial ecosystem, today announces that it has signed an agreement for the acquisition of a majority stake in Yard Reaas, a leading independent platform providing investment, property management and valuation services for institutional investors and banks.

Headquartered in Milan and with offices in Rome, Paris and London, Yard Reaas has more than 30 years of experience, providing end-to-end investment services and property management solutions to a diversified customer base composed of local and international institutional investors and banks. Over the past three years it has monitored investments worth €1.5 billion, performed assets valuations in excess of €30 billion as well as managing a real estate portfolio worth over €13 billion on behalf of first-class institutions.

Yard Reaas is led by CEO Emanuele Bellani, alongside a highly entrepreneurial founding management team formed by Paolo Datti and Paolo Perrella, which will continue to drive growth for the platform under AnaCap ownership in Italy and internationally.

The company is well positioned as a leading platform for investors and financial institutions with a successful inorganic strategy track record of six acquisitions (including the recently announced Tecnit@lia acquisition in January 2024). Yard Reaas is particularly attractive to businesses looking for a prospective partner which can provide high-quality services for both prime and distressed assets across all asset classes, as well as those with an ESG focus.

This transaction will enable the Yard Reaas leadership team to significantly accelerate its international expansion strategy in Southern Europe as it seeks to execute a strong pipeline of acquisitions, in pursuit of becoming a leading consolidation platform in its sector across Italy, Spain and France respectively.

AnaCap’s extensive track record in technology investment will help accelerate Yard Reaas ambitious plan to become the leading tech-enabled service provider for its market. This will include the advanced use of technology, data, and analytics to offer a vast range of innovative solutions to clients such as Automated Valuation Models (“AVM”) and automated ESG ratings that align with the recent European ‘Green Homes’ directive, as well as optimising its internal processes.

Buyside advice was provided by Vitale & Co and Allen & Overy. Closing of the transaction is subject to customary closing conditions.

Alberto Sainaghi, Managing Director at AnaCap, commented:

“We are thrilled to partner with Emanuele and the Yard Reaas leadership team as we seek to build upon their impressive achievements in recent years and their excellent market reputation. Moving forward, AnaCap’s vision is for Yard Reaas to become the leading tech-enabled provider in Southern Europe for the sector, serving customers across multiple geographies and asset classes.”

Nassim Cherchali, Co-Managing Partner at AnaCap, added:

“AnaCap continue to find attractive opportunities in core European markets through a deep understanding of local markets, sector specialism and lower mid-market focus. AnaCap’s acquisition of Yard Reaas is another example of how we partner with founders and ambitious management teams to support and accelerate their growth ambitions. We look forward to working closely with all the team at Yard Reaas and are excited for them to join the AnaCap platform.”

Emanuele Bellani, CEO at Yard Reaas, concluded:

“It became clear to us very quickly that AnaCap would be a perfect partner as we target significant growth in scale and offering of services. Their vast experience in executing build-up strategies, their deep understanding of tech-enabled business growth and their DNA in supporting highly entrepreneurial management teams will help us immeasurably in achieving our ambitious goal: consolidating our leadership in Italy, as well as expanding our geographical presence in other countries via strategic acquisitions using technology as the key differentiating aspect in the market.”

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Boyum IT Solutions acquires NETRONIC and enriches its cloud manufacturing offering.

Volpi Capital

Aarhus, Denmark April 4th, 2024

Boyum IT Solutions (“Boyum”) is a global supply chain software vendor based in Denmark, with more than 12,000 customers in more than 100 countries. Netronic, based in Germany, is a software vendor with complementary functionality in production scheduling for SME manufacturers, globally. Similar to Boyum, Netronic offers its solutions to both Microsoft Dynamics and SAP customers, distributing their add-ons via hundreds of partners across the world.

With this acquisition, Boyum expands its cloud manufacturing offering to enable an end-to-end product value chain, creating a more holistic portfolio of ERP add-ons for its customers and partners across the SAP and Microsoft ecosystems.

The product and organizational synergies match the overall objective of helping more manufacturers produce and launch better products, with Boyum and NETRONIC both being flexible and passionate about rapidly adapting to the needs of their customers and partners.

Mikael Boyum, founder and CEO of Boyum IT, is excited about the opportunities that Netronic manufacturing will allow the company to pursue: “I’m very happy about the doors that this powerful scheduling tool opens for manufacturing SMEs in general, as well as for our current customers and partners. This will significantly enhance what our Cloud Apps and Beas currently offer and is another move in the right direction towards our goal of being the long-term product value chain partner – from the innovation stage, in which a product is idealized and designed, to its launch.”

Elmar Karlowitsch, COO, and Martin Karlowitsch, CEO of NETRONIC, are enthusiastic about the opportunities ahead: “We successfully established NETRONIC as a brand for powerful scheduling for small and mid-sized manufacturers. By joining forces with the Boyum team, we now can offer a full suite of manufacturing apps to our Dynamics 365 Business Central customers. So far in our business careers, we never saw a better fitting example of the ‘1 + 1 = 3’ formula.”

Boyum is owned by Volpi Capital – a B2B tech specialist investing across Northern Europe. Volpi Capital is experienced in international expansion and buy-and-build, driving sustainable and profitable growth.

Marc Andreoli and Fernando Piekenbrock,investors at Volpi Capital, are looking forward to continued growth for the combined group going forward: “After successfully integrating Perfion last year, we anticipate further revenue synergies from the merger between Boyum and NETRONIC. The acquisition will strengthen our positioning as a global ERP-agnostic provider of product value chain solutions and deepen our penetration of the highly growing Microsoft Dynamics market.”

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Miura Partners launches Dent&Co to support Proclinic Group in its new growth phase

Miura Capital
    • Dent&Co has raised over €200 million from international institutional investors.
    • ProClinic Group, a leading dental distributor in Europe, undertakes a new phase of growth and consolidation through acquisitions.

Miura Partners (Miura) has closed Dent&Co fund at over €200 million, to back Proclinic Group (Proclinic), a European leading dental distribution company, in its next phase of growth.

Dent&Co has commitments from institutional investors, including existing and new LPs who further support the project. The Raneda family, together with Manuel Alfonso – CEO of the group, have reinvested and will continue to lead the project.

Founded in 1983 and headquartered in Zaragoza in Spain, Proclinic is a leading pan-European integrated provider of solutions for the dental sector. The company offers a broad product portfolio of dental consumables and equipment, as well as value-added services including after-sales training and technical support, providing a one-stop solution across the value chain to its clients. The company has a strong omnichannel presence in key European markets, with more than 150,000 SKUs and over 42,000 active customers.

Since Miura’s initial investment in 2021, the company has driven important value-generating initiatives, including C-level management reinforcement; four strategic acquisitions to gain market share in key geographies and new business lines: Exotec Dentaire (France), Meditrans (Poland), Montellano (Portugal) and Secret Aligner (Spain); a clear commitment to digitalization and the reinforcement of online sales; investment in leading logistics platforms in Zaragoza (Spain), Kielce (Poland) and Dijon (France); and the implementation of sustainability initiatives such as the installation of photovoltaic panels, the reduction of plastic in packaging or the introduction of ESG clauses in its contracts with suppliers.

All in all, Proclinic reached €256 million in sales in 2023, with an annual growth of 29% since 2020.

The renewed partnership between Miura and Proclinic will further develop its growth plan based on the reinforcement of the commercial strategy, the expansion of products and services, the integration of the latest acquisitions and explore new M&A opportunities in other European countries such as Italy, Germany, Benelux and the Nordics.

Carlos Julià, Managing Partner at Miura Partners:

“We are very excited about strengthening our partnership with Proclinic and backing the Raneda family and the management team in the next phase.  The dental sector has solid market fundamentals given the raising patient demands, the ageing of the population and technological improvements. Proclinic is a well-invested and differentiated platform with a proven ability to execute growth and we will continue to consolidate the market through strategic acquisitions. We would also like to thank the trust of our investors who have committed their capital to Dent&Co.”

Manuel Alfonso, CEO at Proclinic Group:

“Since 2021 Miura has been a strategic partner and we are very pleased to maintain our partnership to continue growing. It is a true display of long-term commitment to carry out the project we started three years ago. I am grateful of the entire team and the Raneda family for their work and dedication, which has allowed us to achieve our current leading position in dental distribution.”

The transaction was advised by Moelis & Company (exclusive financial advisor), Baker & McKenzie and King & Wood Mallesons (Legal), PwC (Due Diligence) and L.E.K. Consulting (Commercial Advisor).

About Miura Partners

Miura Partners is a purpose-driven Private Equity firm. With offices in Barcelona and Madrid, the firm specializes in investing in small and medium-sized family-owned and entrepreneurial companies. Miura provides attractive growth and innovation plans with a clear focus on sustainability, under its three investment strategies: Buy-outs, Impact, and Agribusiness.

Since 2008, Miura has invested in more than 70 companies, for a total value in excess of €3.0 billion. Currently, the firm has €1.5 billion assets under management.

About Proclinic Group

Proclinic Group is the leading integrated supplier of solutions for the dental sector in Europe with nearly 150,000 product references and presence in 31 countries. With 40 years of history, the group integrates four business lines across the entire value chain. Distribution (through Proclinic, specialized in dental products and services), production (through Exotec Dentaire, manufacturer of high-quality clinic consumables), training (offered by the DEAC dental academy), and supply and technical assistance (thanks to Fadente).

Proclinic has a state-of-the-art automated logistics center of more than 12,000 square meters in Zaragoza (Spain) and has a strong international presence through strategic acquisitions such as Meditrans (Poland) and Montellano (Portugal), as well as a European e-commerce network in France, Italy, Germany and Poland.

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Triton to acquire Visser & Smit Hanab, VW Telecom and Homij

Triton

Frankfurt (Germany), Rijssen (the Netherlands), 5 April 2024 – Funds advised by Triton (“Triton”) have signed an agreement to acquire 100% of VolkerWessels Verbindingen en Netwerken B.V. (“V&N Group”), a company indirectly fully owned by Koninklijke VolkerWessels B.V. (“VolkerWessels”) and controlling the entities Visser & Smit Hanab B.V., VW Telecom B.V. and Homij Technische Installaties B.V. (the VolkerWessels Energy, Telecom and Technical Installation companies cluster). The transaction is still subject to the advice of the central works council of VolkerWessels and customary regulatory approvals. Other terms and conditions of the transaction are not disclosed. Completion of the transaction is expected to take place in Q3 of 2024.

V&N Group is a leading multi-utility service provider with dedicated focus on sustainable and digital solutions in the fields of energy & utility, connectivity and building installation services. The company is present throughout the Netherlands and each of its entities are partners of choice for the main public and private clients in their respective business areas. The Group’s 3,100 employees offer integrated solutions including feasibility studies, advice, design, installation, realization, and maintenance throughout the Netherlands and in Germany.

VolkerWessels took the decision to pursue a sale of its Energy, Telecom and Technical Installation companies cluster following a strategic review which resulted in the decision to focus on its activities in construction & real estate development in the Netherlands and Germany and its infrastructure activities in the Netherlands, the UK and North America. 

Triton has a 25-year track record of successfully building and growing its investments businesses in V&N Group‘s sector across Europe with investments in OCU Group and EQOS among others. The firm is also an experienced investor in the Netherlands, having invested in and significantly supported the growth of companies such as technical services provider Unica. Triton is acquiring V&N Group with a strong belief in the growth potential of the company and its long-established customer relationships, which Triton plans to further invest in. The acquisition builds on Triton’s established reputation as a reliable new home and a good cultural fit for corporate carve-outs as well as family-owned businesses.


Koos van de Linde, Investment Advisory Professional at Triton said: “We have been really impressed with the track record of V&N Group and its management team under the stewardship of VolkerWessels, which has been instrumental in helping accelerate the energy transition, digitalization, and housing needs of the Netherlands. We look forward to working with the management and employees of V&N Group in their next phase of growth and to continue building on the strong relationship between V&N Group and VolkerWessels.”

Stanley Maas, CEO of V&N Group said: “I am looking forward to accelerate the growth necessary to address the opportunities arising from the energy and digitization transition with Triton and I am convinced that the transaction will be beneficial to our employees, clients and other stakeholders.” 

VolkerWessels has been advised by ABN AMRO Corporate Finance, ING Corporate Finance and De Brauw. Triton has been advised by Emendo Capital and Clifford Chance.

About VolkerWessels

VolkerWessels is a leading, international company with a focus on construction and infrastructure. The company operates in the Netherlands, the United Kingdom, North America, and Germany and has a total of more than 130 different operating companies.

For further information: www.volkerwessels.com

About Triton

Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.

Triton has over 200 investment professionals across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.

For further information: www.triton-partners.com

Press Contacts

Triton

Anja Schlenstedt

Email: media@triton-partners.com

VolkerWessels

Peter Zeylmaker

Phone: +31 653 911 572

Email: pzeylmaker@volkerwessels.com

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FinFit & Salary Finance U.S. Announce Merger, Creating America’s Leading Workplace Financial Wellness

Senahill

VIRGINIA BEACH, VA, April 5, 2023 / PRNewswire / — With nearly 50 percent of U.S. workers reporting financial stress, FinFit and Salary Finance U.S. today announce their merger, to better support the financial needs of working Americans. Both companies have been part of the rapidly growing market of financial wellness employee benefits offered through the workplace, as demand has skyrocketed post-pandemic and due to inflation-driven cost of living challenges.The merged organization will service over 500,000 U.S. employers and over 10 million U.S. employees, in employers ranging in size from 4 employees to 400,000 employees, including household name brand employers like Tesla, Allied Universal, and United Way, and through an exclusive partnership with the payroll provider, Paychex.

The combined organization will operate under the FinFit brand, with the updated platform including Salary Finance U.S.’s financial wellness products. With these additions, FinFit’s SaaS-based platform will be the most comprehensive workplace financial wellness platform in the U.S., including a personalized financial assessment, coaching and dashboard, budgeting, spending and savings accounts, and payroll-deducted earned wage access, advances, and loans.

FinFit CEO and Founder David Kilby will continue to lead the combined organization, and Salary Finance’s Co-Founder Asesh Sarkar will serve as President.

David Kilby, CEO of FinFit commented, “The post-pandemic world has been tumultuous for the American worker – from inflation to rediscovering a new work-life blend. Financial instability, today more than ever, compounds stress that leads to negative productivity and health outcomes. We are energized to be merging with Salary Finance to take FinFit to the next level, as America’s preeminent financial wellness platform supporting employees through their journey to financial health. Our organizations share this vision, and our combined capabilities and scale will ensure we will deliver on our core values to build financial wellness opportunities for all.”

The merger comes at a time when there has never been more emphasis from businesses to create wellness programs for employees and, in particular, wellness programs that focus on the financial stress and pressure today’s worker feels. According to the most recent research data from FinFit and Salary Finance U.S., which will be released later this spring, 49 percent of U.S. workers are feeling financial stress. A majority, 70 percent, are worried about a recession impacting them, and 61 percent say they have less cash on hand now than they did a year ago. Financial stress in the workforce leads to ineffectiveness at work, troubled relationships, and a drop in productivity, creating a compelling financial and moral case for employers to act.


Asesh Sarkar, Salary Finance Co-Founder and President of FinFit, commented, “Our mission at Salary Finance has been consistent from day one: to help millions of employees around the world become financially healthier and happier. This merger accelerates our path forward and allows us to serve clients and their employees with a more holistic set of benefits. I am excited to be working with David and the combined team as we move to the next stage of our journey.”

Clients of Salary Finance U.S. and FinFit will continue to be served as they are today, with details of the option to upgrade to the new FinFit platform to be shared soon.

About FinFit: FinFit was established in 2008 and currently services over 500,000 organizations across the United States. The company’s SaaS-based model provides holistic financial wellness services that include a personalized financial assessment, premier educational resources, online money management tools, financial coaching, financial solutions, early wage access, spending and savings accounts, student loan services, and a member rewards program. Focus on creating positive, healthy financial behaviors and products to support behavioral change has proven to reduce financial stress and increase employee retention by more than 25%.

View source version on prnewswire.com: prnewswire.com/news-releases/finfit-and-salary-finance-us-announce-merger-creating-americas-leading-workplace-financial-wellness-platform-301790725.html

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Ardian signs an agreement with a view to sell Staci to bpostgroup

Ardian

Ardian supported the Group’s international expansion and diversification through an ambitious transformation and development plan.
• Staci is now active in 10 countries, with over 80 logistics hubs in Europe, the United States and Asia.

Ardian, a world-leading private investment house, announced today that it has entered into exclusive discussions with bpostgroup with a view to sell its majority stake in Staci, the European leader in innovative B2B and B2B2C logistics solutions, to bpostgroup. As part of this transaction, Staci’s management would reinvest alongside bpostgroup.

Since its acquisition in 2019, Ardian, alongside Société Générale Capital Partenaires, has supported the Group’s diversification and growth outside of its historical marketing products segment, expanding into B2B logistics and eCommerce to become a multi-channel logistics specialist. The company now benefits from a wide range of expertise, and a high-quality portfolio of national and international customers, across a range of diverse industries including healthcare, cosmetics, energy, in both private and public services.

Founded in 1989, Staci is an independent company that has grown to become one of the European leaders in innovative B2B and B2B2C logistics solutions for companies wishing to outsource all or part of their customer procurement operations. The company has a unique expertise in managing complex and scalable logistics flows, such as dealing with a multitude of suppliers and delivery points, low unit volumes, non-standard formats, and barcoded and non-barcoded products.

With Ardian’s support, and despite the impact of Covid-19, Staci has successfully completed its development plan. The Group’s first transformational acquisition, in the Netherlands in 2021, was an important driver of its sectoral and geographic diversification. In early 2023, another acquisition in the United States enabled Staci to pursue its international expansion, making this region a central part of the Group’s activity. Staci is now operating in 10 countries with over 80 logistics hubs in Europe, the United States and Asia.
Over the past 5 years, Staci has benefited from increased international sales. Its broader sector exposure and market position have increased the company’s resilience and will continue to provide opportunities for the future.

The transaction remains subject to the consultation of the relevant works’ council of Staci group, and to the clearances of the relevant regulatory authorities.

“We would like to thank Thomas Mortier, and all the Staci teams for their commitment throughout our collaboration. It was a real pleasure to work with them on the implementation of an ambitious transformation and development plan. Staci is now a diversified and innovative international player with unique know-how, and we are convinced that the group will continue to grow even more in the coming years.” Lise Fauconnier, Managing Director Buyout, Ardian

“All Staci managers and staff join me in thanking Lise Fauconnier and her team for their unfailing support and trust over the past five years. Together, we have successfully accelerated Staci’s international development and diversification, despite the Covid period. I would also like to extend my warmest thanks to our customers for their loyalty, and to our employees who work hard every day to meet our clients’ needs. The transaction would allow Staci to continue its growth within a solid group that has acknowledged our expertise and the quality of our services, and whose development synergies are highly motivating. It would enable Staci and bpostgroup to combine their strengths and complementarities to offer the best and most innovative multi-channel logistics service.” Thomas Mortier, CEO, Staci

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $164bn of assets on behalf of more than 1,600 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 STACI

Staci is a leading fulfilment and logistics services specialist that offers multichannel logistics and distribution solutions including B2B, D2C and e-commerce to a wide range of industries including beauty & healthcare, telecom, retail, food & beverage, and the public sector. With a unique expertise in multi-client shared warehouses, Staci is capable of implementing custom-made and cost-effective logistic solutions. Thanks to the know-how, the processes, and the experience that the company has developed around fulfilment, pick & pack, shared resources, transport optimization, IT systems and stock financing, Staci is able to offer unique and fully integrated supply chain management solutions.
Staci operates over 80 warehouses spread across Asia, Benelux, France, Germany, Italy, Spain, the Netherlands, the UK, and the USA with 3,500 employees and has recorded €770m sales in 2023.

staci.com

ABOUT SOCIÉTÉ GÉNÉRALE CAPITAL PARTENAIRES

Société Générale Capital Partenaires (SGCP) supports the shareholder-managers of SMEs and ETIs in their development and proximity approach. SGCP takes minority stakes in companies, for amounts ranging from €1 to €35 million, in a variety of contexts: development through external or organic growth, transfer of capital, reorganization of shareholder base, optimization of financial structure. Every year, SGCP’s teams in Paris, Lille, Strasbourg, Lyon, Marseille, Bordeaux and Rennes invest between €150 and €200 million in some twenty transactions, confirming their long-term commitment to financing companies and the economy.

https://capitalpartenaires.societegenerale.com

PRESS CONTACT

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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EQT enters exclusive talks with ICG Infra to acquire Ocea Group, a leading French water and heat submetering infrastructure provider

eqt
  • Ocea is a provider of smart water and heat metering infrastructure in France, operating under long-term inflation-linked contracts in an industry benefiting from long term visibility and regulation-driven growth
  • Ocea helps the energy transition through measurement of individual consumption, which significantly incentivizes customers to make more environmentally conscious decisions. Submeter installation is shown to reduce energy consumption and water usage by 15%1
  • EQT plans to further accelerate the Company’s growth, applying its track record in the energy and environmental sectors. ICG Infra strongly supported Ocea on significant initiatives to contribute to its growth in the energy transition

EQT is pleased to announce that EQT Active Core Infrastructure fund (“EQT”), has entered exclusive negotiations to acquire Ocea Group (“Ocea”, or the “Company”) from ICG Infrastructure Equity I (“ICG Infra”).

Ocea aims to play a key role in the rollout of smart water and heat submetering devices leading to tangible savings for customers and positive impact for the environment. It operates more than four million heat and water submeters. Through long-term, 10+ year inflation-linked contracts, the company provides a comprehensive range of submetering services to over 7,000 public and private customers, including installation and rental, reading and data collection, and maintenance and replacement.

The Company is expected to benefit from favorable growth trends in the French submetering market owing to regulation and strong consumer demand to allocate and reduce consumption. Penetration rates are expected to improve both across the water and heat segment, while creating significant adjacent business opportunities.

Since acquiring a majority stake in Ocea in 2019, ICG Infra undertook a series of initiatives to support its growth in the energy transition, driven by a management team of seasoned executives led by CEO Emmanuel Croc.

EQT plans to support Ocea’s growth in its core submetering business and across other adjacent solutions in the environmental, data management and smart housing segments. EQT would help Ocea to continue the expansion of its asset and client base, drive growth through capex-enabled sustainable energy solutions and make significant investments in digital customer services.

Fabian Gröne, Partner in the EQT Active Core Infrastructure Advisory Team, said: “This potential investment aligns with EQT’s approach of investing in essential services that have a positive impact on society, and builds on our track record in the circularity and resource efficiency themes. Ocea would mark EQT Active Core Infrastructure’s third investment, which is focused on acquiring core businesses with strong downside protection and inflation-linked contracts backed by thematic market growth – while still providing significant value creation opportunities from EQT’s active ownership approach.”

 

Thomas Rajzbaum, Partner and Head of EQT’s French Infrastructure Advisory Team, added: “We have followed Ocea for a long time and have been deeply impressed by its growth track record. We are thrilled by the prospect of partnering with the management team to further strengthen the Company’s positioning in France and abroad through continued growth in its asset base and investments in digitalisation and sustainable customer solutions.”

Emmanuel Croc, Chief Executive Officer of Ocea, said: “I would like to thank ICG for their strong contribution and expertise over the last four years, and we would be delighted to welcome EQT as a new long-term partner. We see the demand for submetering solutions steadily increasing amidst continued volatility in energy costs, increased customer awareness and desire to save coupled with a favorable regulatory landscape. By combining Ocea’s footprint and customer relationships with EQT’s experience in the energy sector, we plan to scale the platform further and grow in attractive adjacencies such as geothermal.”

Guillaume d’Engremont, Head of Infrastructure at ICG, commented: “Since we first invested in Ocea, our support has allowed the Company to continuously strengthen its position as a leading energy efficiency player by growing its installed base of sub-meters whilst also expanding into additional business lines synergetic with its core business. We are proud to have accelerated this critical mission over the past four years. It has been a pleasure to partner with Emmanuel Croc and the management team, who are doing a fantastic job further growing Ocea in the French market with an industry-leading efficiency and sustainability focus.”

The transaction is subject to customary regulatory conditions and approvals including information and consultation of the works council of Ocea. It is expected to close in Q2-Q3 2024.

EQT was advised by Rothschild & Co (financial), Linklaters LLP (legal), BCG (commercial and ESG) and KPMG (finance and tax).

ICG was advised by Ayache (legal), Bird&Bird (legal) and Eight Advisory (finance).

1Source: ADEME, L’individualisation des frais de chauffage, February 2023

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Active Core Infrastructure will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

Contact
EQT Press Office, press@eqtpartners.com
ICG Press Office, Catherine.Armstrong@icgam.com

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 130 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram   

About Ocea Group
Groupe OCEA employs around 550 people throughout France (28 agencies) to accelerate the energy transition of collective housing and tertiary buildings through its 3 subsidiaries:

  • Ocea Smart Building: sub-metering of water and heating, water and energy costs allocation and digital solutions for energy management. Our client promess is to reduce their consumption (up to 15% on average across the portfolio).
  • Isiom Conseil: assisting public and private clients for audits and actions plans in order to optimize their property assets, specially on energy efficiency.
  • Qowisio: the specialist in IoT solutions (like temperature sensors, Air Quality,… ) and connectivity

More info: https://www.groupe-ocea.fr/

About ICG
ICG provides flexible capital solutions to help companies develop and grow. We are a leading global alternative asset manager with over 35 years’ history, managing $86.3bn of assets1 and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.

ICG develops long-term relationships with its business partners to deliver value for shareholders, clients and employees, and uses its position of influence to benefit the environment and society. ICG is committed to being a net zero asset manager across our operations and relevant investments by 2040.

ICG is a member of the FTSE 100 and listed on the London Stock Exchange (ticker symbol: ICP). Further details are available at www.icgam.com. You can follow ICG on LinkedIn, X (Twitter) and Instagram

ICG Infra Team manages more than €2.5bn in Europe and seeks to partner with successful management teams and founders, providing growth capital to mid-market businesses across the energy transition, digital and mobility sectors.

ICG Infra Team leverages ICG’s DNA of bespoke capital solutions, investing across capital structures in equity and structured equity instruments creating a defensive risk-return profile for its portfolio whilst seeking to deliver consistent returns for its investors.

1 As at 31 December 2023

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SheerID Launches Income Verification Solution Enabling Telcos to Serve Families No Longer Covered by Affordable Connectivity Program

Brighton Park Capital

Solution makes it easy for Telcos to digitally verify over 42 million individuals who qualify for government assistance programs for reduced price plans and promotions

PORTLAND, Ore.–(BUSINESS WIRE)–SheerID, the global leader in identity verification for commerce, today announced the availability of its instant verification solution for low-income households for telecom carriers. Already in use by brands such as Walmart – in support of the company’s Walmart+ Assist program – SheerID’s verification solution provides an easy way for companies to verify households who qualify for government assistance programs. With the federal government ending funding of the Affordable Connectivity Program (ACP) this month, SheerID’s verification solution provides a means for carriers to continue reduced rate pricing and promotions to families who need extra financial support. In addition, it allows Telcos to pursue continued federal funding through programs such as the broadband equity and deployment (BEAD) program.

“We are honored to help telcos that need new alternatives to the ACP to continue to provide their much needed products and services to families in need throughout the United States.”

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Since the creation of ACP, carriers could count on the government to verify which of their customers are on government assistance and thus eligible for special discounts on their products and services. Now that ACP is being discontinued, telcos can no longer seamlessly verify and serve millions of customers who qualify for reduced rate programs. The end of ACP also represents the loss of government subsidies for rural broadband deployment. Providing low-cost plans to verified low-income customers is an efficient and effective way to ensure digital equity.

How SheerID verifies customers who qualify for government assistance

SheerID uses authoritative data sources to verify if someone meets the income eligibility guidelines for SNAP. In addition, SheerID can verify if someone is enrolled in a government assistance program like WIC, Medicaid, SSI, TANF, TTANF, NSLP and LIHEAP through document review. Once SheerID verifies the individual through its seamless white-label verification experience on the Telco’s website, the carrier can offer needed reduced-rate plans and other promotions such as discounts on refurbished phones to customers.

Supporting additional communities with exclusive promotions

Given the vital importance of Internet-access in today’s world, providing an exclusive offer to households that qualify for government assistance helps generate goodwill and supports the mission of a company’s brand. This phenomenon is also true when a brand provides personalized discounts to other communities, such as teachers, students, and healthcare workers. From surveys conducted by SheerID, more than 60% of all consumer communities said a personalized offer would make them promote that brand to friends and family. T-Mobile has generated goodwill by offering special promotions to military and first responders, while AT&T offers promotions to a number of communities including military, first responders, teachers, and healthcare workers. SheerID’s verification solution protects all of these offers by verifying that consumers who try to redeem these offers are indeed part of the community.

“This is an important initiative to help people around the country – regardless of their economic situation, gain access to the Internet and achieve digital equity,” stated Jake Weatherly, CEO of SheerID. “We are honored to help telcos that need new alternatives to the ACP to continue to provide their much needed products and services to families in need throughout the United States.”

More information about SheerID’s Telco solutions can be found here.

About SheerID

SheerID is the global leader in identity verification for commerce. With SheerID, brands identify and acquire customers from highly valued consumer communities — such as the military, students, teachers, and first responders — with personalized offers through loyalty programs, digital wallets, and more, that are gated by instant verification from the largest set of authoritative data worldwide. SheerID verifies more than 2.5 billion people via 200,000 authoritative data sources to increase sales while mitigating fraud, provides global insights from hundreds of the world’s leading brands, and never shares or sells customer data. As a result, the world’s biggest brands — including Amazon, Home Depot, Spotify, and T-Mobile — rely on SheerID as their identity verification partner. Founded in 2011, SheerID is backed by Fortson VC, Brighton Park Capital, Centana Growth Partners, Voyager Capital, and CVC Growth Partners.

SheerID is ISO Certified and is a member of the MACH Alliance, the group of independent technology companies dedicated to advocating for open, best-of-breed technology ecosystems. In 2023, SheerID ranked among the highest-scoring businesses on Inc. Magazine’s Annual List of Best Workplaces. For more information, please visit SheerID or follow us on Twitter, LinkedIn, Facebook, and TikTok.

Contacts

Michael Lindenberger
LindyPR
michael@lindypr.net
+1.415.531.1449

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REDUCED secures EUR 6 million financing led by Novo Holdings to scale its natural food ingredients business

Novo Holdings

REDUCED, a Copenhagen-based company that uses fermentation technology to transform food and agriculture industry side streams into natural food ingredients, today announced it has secured EUR 6 million in new financing. The funds were raised from a range of investors, including new investment from Novo Holdings and the Nordic flavour house Einar Willumsen, as well as existing investors EIFO and Rockstart Agrifood.

 

Proceeds from the round will be used to further develop its technology platform, broaden its portfolio of savoury ingredients, secure production capacity, implement certifications, and increase sales and marketing efforts.

 

Since REDUCED was founded in 2020 by William Anton Lauf Olsen & Emil Munck de Voss, the Company has developed proprietary processes that use novel fermentation technology to derive unique umami flavours from food industry side streams at a lower cost, due to shortened process time scales, and with a significantly lower CO2 impact.

 

Rooted in gastronomy, REDUCED’s Head of Research & Development, Lorenzo Tirelli, and Head of Product, Bram Kerkhof, both previously worked in the fermentation lab of the internationally acclaimed Danish restaurant Noma, which was frequently rated as one of the World’s 50 Best Restaurants1.

 

REDUCED’s technology enables the extraction of the savoury umami flavours from both vegetable and animal side streams and convert them using fermentation into clean label ingredients. The global market for savoury food ingredients is estimated to be worth more than EUR 31.5 billion, and EUR 8.8 billion for global clean label savoury flavourings2.

 

REDUCED’s wide range of products include organic chicken stock concentrates made from retired laying hens, and a stock concentrate made from vegetables that don’t meet the strict appearance or size criteria of supermarkets, along with fermented umami sauces which add complexity and a lingering aftertaste to food.

 

REDUCED currently supplies more than 100 food service businesses and delivers ingredients to food manufacturers in collaboration with leading food ingredient suppliers.

 

Emil Munck de Voss, Co-Founder & CEO of REDUCED, said:
“This investment will be transformative for the Company as we expand and extend the range of products we can offer, drawing on our gastronomic heritage to create unique flavours. Not only will this bring great new products to the market, but it will also help to reduce CO2 emissions and make the most of the side streams available in the food production chain. We are ready to continue the work we have started and accelerate the impact we can make on the food industry.”

 

Thomas Grotkjær, Partner, Bioindustrial Investments, Novo Holdings commented:
“REDUCED brings an exciting combination of strong Nordic cuisine and fermentation technology to the growing trend of sustainability in food production. With delicious natural products, that are already in demand from over 100 customers, we are pleased to support the REDUCED team in their journey from innovative start-up to industrial scale.”

 

Jan Grøndal, Chief Executive Officer, Einar Willumsen said:
“REDUCED has the potential to make a significant impact in the food ingredients industry and we want to be a part of that. We are impressed by the Company’s ability to convert technology to commercial products and their approach to flavour creation. In Denmark, we have a tradition for creating high-value food ingredients companies, and we strongly believe REDUCED could be the next one.”

 

About REDUCED
Founded in 2020, REDUCED is challenging the flavour industry, by creating intense natural flavour solutions from side streams and surplus produce from the food and agricultural industry.

The Copenhagen-based company has developed unique fermentation processes, allowing the utilisation of various side streams to create umami-rich flavour solutions. REDUCED’s mission is to deliver flavour solutions with low carbon impact by repurposing side streams and provide cost-effective, natural, and flavour-rich food ingredients.

 

About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective.

 

In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, Asia, Bioindustrial and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development. As of year-end 2023, Novo Holdings had total assets of EUR 149 billion. www.novoholdings.dk

 

About Einar Willumsen A/S
Einar Willumsen is a Nordic flavour house with more than 123 years of experience. Ever since its establishment in 1901, EW has been practicing its slogan: “When taste and speed matter”. The company uses nature’s recipes to create unique and authentic taste experiences for beverages, dairy, confectionery, and bakery industries, based on a strong skillset within e.g. Flavour creation, application technology, distillation, bio solutions, and extraction technology. On top of creating the perfect taste solutions and final applications, the company assists with e.g. regulatory and compliance assistance and is therefore a full solutions provider.

Further information

Marie-Louise Jersin, Senior Communications Partner,
+45 3049 4957
maj@novo.dk

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BC Partners Credit and Riddell Team-up on Strategic Investment to Fuel Future Growth

BC Partners Logo

NEW YORK and DES PLAINES, Ill., April 3, 2024 /PRNewswire/ — BC Partners Credit, the credit arm of BC Partners, a leading alternative asset management firm, and Riddell, Inc., the industry leader in football helmet technology and sports protection innovation, today announced a strategic partnership that will further advance Riddell’s central role in the game of football into the future.

Founded in 1929 and based in Des Plaines, Ill., Riddell is an iconic brand serving the football equipment market and sports community for nearly a century. Riddell is the premier designer and manufacturer of football helmets, protective sports equipment, head impact sensing and reporting technologies, and related apparel and accessories. The Company also serves as the exclusive licensee of the NFL for collectible helmets and maintains promotional rights with the League as an authorized supplier of helmets worn by more than 77% of NFL players. Riddell is deeply involved in football with key touchpoints at the grassroots level as representatives are strategically based in local communities to address customer needs and provide support.

Riddell’s historically strong growth and financial performance have only improved in recent years, driven by the Company’s robust head protection and technologies roadmap, increased market share, and positive football participation trends. BC Partners’ $400mm investment in Riddell, which includes convertible preferred equity and debt, will empower Riddell to accelerate innovation and make compelling investments in the business for the benefit of all stakeholders. BC Partners will join Riddell’s Board, working closely with Riddell’s management team and committed investors, including majority investor Fenway Partners, who have been pivotal to Riddell’s longstanding success. Riddell will refinance certain existing debt and provide a dividend to current investors as part of the transaction.

“From its market leadership, attractive financial profile, and differentiated portfolio, Riddell has demonstrated it is built for sustained success,” said Ted Goldthorpe, Head of BC Partners Credit. Mr. Goldthorpe continued, “We are pleased to have structured an investment that is customized for Riddell, as the Company embarks on an exciting growth trajectory, with increased investments in research and product development, strategic partnerships, and a best-in-class distribution platform. Dan and the entire Riddell team are exceptional, and we are excited to partner with them.”

Dan Arment, President, and Chief Executive Officer of Riddell, said, “Riddell proudly welcomes BC Partners as advisors and investors in our business. We clearly maintain a shared vision for maximizing Riddell’s role in the rapidly evolving products and services landscape within football and sports. This alignment will ultimately strengthen Riddell’s service to our customers, drive increased financial performance, and deliver value for our investors, including BC Partners and Fenway Partners.”

Said Fenway Partners Co-Founder and Managing Partner, Peter Lamm, “We welcome BC Partners to the Riddell team and look forward to working with them to drive continued innovation and growth. With the best management team in the industry, Riddell is well positioned to deliver outstanding performance for athletes and value for all of its investors.”

Three Ocean Partners served as the sole financial advisor to BC Partners Credit on both the preferred and debt financing, and King & Spalding LLP acted as legal advisor.

UBS Investment Bank and Baird served as financial advisors to Riddell, and Lowenstein Sandler LLP acted as the legal advisor to the Company in connection with the transaction.

About Riddell

Riddell was founded with a goal of giving back to the football community while advancing and improving athlete protection. As the long-standing leader in football head protection and protective athletic equipment for 95 years, Riddell is leading the game to a strong future by creating a path to next generation protection. Riddell also offers best-in-class reconditioning services to help ensure athletes have access to clean, sanitized, and recertified equipment. Off the field, Riddell’s licensed collectibles business is regarded as the cornerstone of football collectibles for fans and collectors of college and the NFL. For more information, visit www.Riddell.com or follow @RiddellSports on Instagram, Twitter, Facebook, and YouTube.

About BC Partners & BC Partners Credit

BC Partners is a leading investment firm with over €40 billion in assets under management across private equity, private debt, and real estate strategies. BC Partners Credit was launched in February 2017, with a focus on identifying attractive credit opportunities in any market environment, often in complex market segments. The platform leverages the broader firm’s deep industry and operating resources to provide flexible financing solutions to middle-market companies across Business Services, Industrials, Healthcare and other select sectors. To date, BC Partners Credit has completed more than 400 transactions. For further information, visit www.bcpartners.com/credit-strategy.

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