Category Archives: News

Novature opens a new Microsoft Dynamics platform for ambitious partners

NPM Capital

Novature is a new international platform of Microsoft Dynamics Partners that launched in July 2022. With 350 employees, Novature has an expected turnover of more than 150 million euros. Novature has been initiated by two established Microsoft Dynamics parties; Companial with offices across Europe and DycoTrade in Aalsmeer. Novature was established thanks to an investment of the investment company Quadrum Capital. As part of the transaction, NPM Capital has divested its shareholding in Companial to the new group.

Novature concentrates on Microsoft Dynamics Business Applications and Power Platform. Novature is ambitious in its growth plans and wants to join forces internationally with other Dynamics Independent Software Vendors (ISVs) to support partners and customers in their digital transformation. “Digital transformation is the core of the growth for companies all over the world,” says Novature’s Louis Rustenhoven, CEO. “Our vision is that we will only be able to manage this when we act as a collective platform together with specialised Dynamics partners. The focus is on IP, but the platform also supports resourcing, technical and business services as well as training. It is the perfect starting point for partners and their customers to benefit from the advantages of a modern, scalable and specialised Microsoft-based business application platform.”

Novature offers Dynamics ISVs access to a pool of knowledge and resources, which is difficult for individual companies to gain access to. “Novature will attract innovative business leaders who are happy to share their knowledge and experience with other businesses,” says Arie Willem van de Plas, CEO of Dycotrade. “Novature offers literally hundreds of years of Microsoft Dynamics experience. Our partners and their customers benefit from expertise in the area of Business Applications which is second to none. In this way you stay relevant as a partner and customer in this rapidly changing world.”

Pioneers
Companial is one of the companies which partnered with Novature at the launch. Companial is a leading Microsoft distributor of Cloud platforms for more than 1,000 Dynamics implementation partners worldwide. In the past few years Companial has expanded its services in areas such as training, outsourced development, migration and upgrade services and more recently to provide an ISV Marketplace. Within Novature, Companial is able to take its partners services to the next level by opening up horizontal and vertical IP on the Dynamics platform for these partners.

Novature’s goal is to add Dynamics ISVs with (horizontal) IP to its platform by means of a buy-and-build strategy in the coming years. DycoTrade is the first ISV on the platform. DycoTrade has been providing Dynamics software solutions since 2001 with applications in commodity trading for the worldwide operating supply chains of food, feed and metal sectors. In addition, DycoTrade also supplies horizontal applications such as currency exchange and tax calculation. All DycoTrade solutions are based on Dynamics 365, making DycoTrade one of the leading Microsoft ISVs in the Microsoft Dynamics ecosystem.

Both Companial and DycoTrade remain independent companies within the platform, operating under their own brand. Novature was established thanks to an investment of the investment company Quadrum Capital. As part of the transaction, NPM Capital has divested its shareholding in Companial to the new group.

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Novature launches a new worldwide Microsoft Dynamics partner platform

Leusden, The Netherlands, 21 July 2022 – Novature is a new international platform of Microsoft Dynamics Partners that launched in July 2022. With 350 employees, Novature has an expected turnover of more than 150 million euros. Novature is an initiative of two established Microsoft Dynamics parties: Companial with offices across Europe and DycoTrade in Aalsmeer.

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Novature

Novature concentrates on Microsoft Dynamics Business Applications and Power Platform. Novature is ambitious in its growth plans and wants to join forces internationally with other Dynamics Independent Software Vendors (ISVs) to support partners and customers in their digital transformation. “Digital transformation is the core of the growth for companies all over the world,” says Novature’s Louis Rustenhoven, CEO. “Our vision is that we will only be able to manage this when we act as a collective platform together with specialized Dynamics partners. The focus is on IP, but the platform also supports resourcing, technical and business services as well as training. It is the perfect starting point for partners and their customers to benefit from the advantages of a modern, scalable and specialized Microsoft-based business application platform.”

Novature offers Dynamics ISVs access to a pool of knowledge and resources, which is difficult for individual companies to gain access to. “Novature will attract innovative business leaders who are happy to share their knowledge and experience with other businesses,” says Arie Willem van de Plas, CEO of DycoTrade. “Novature offers literally hundreds of years of Microsoft Dynamics experience. Our partners and their customers benefit from expertise in the area of Business Applications which is second to none. This is how to stay relevant as a partner and customer in this rapidly changing world.”

Pioneers

Companial is one of the companies which partnered with Novature at the launch. Companial is a leading Microsoft distributor of Cloud platforms for more than 1,000 Dynamics implementation partners worldwide. In the past few years Companial has expanded its services in areas such as training, outsourced development, migration and upgrade services and more recently to provide an ISV Marketplace. Within Novature, Companial is able to take its partners’ services to the next level by opening up horizontal and vertical IP on the Dynamics platform for these partners.

Novature’s goal is to add Dynamics ISVs with (horizontal) IP to its platform by means of a buy-and-build strategy in the coming years. DycoTrade is the first ISV on the platform. DycoTrade has been providing Dynamics software solutions since 2001 with applications in commodity trading for the worldwide supply chains of the food, feed and metal sectors. In addition, DycoTrade also supplies horizontal applications such as currency exchange and tax calculation. All DycoTrade solutions are based on Dynamics 365, making DycoTrade one of the leading Microsoft ISVs in the Microsoft Dynamics ecosystem.

Both Companial and DycoTrade remain independent companies within the platform, operating under their own brand. Novature was established thanks to an investment of the investment company Quadrum Capital.

About Novature

Novature is the new holding company of Dynamics businesses that share a similar ambition: to digitally transform business of all sizes through business applications based on Microsoft Dynamics and Power Platform. Novature is founded in July of 2022 with the merger of Companial and Dycotrade. www.novature.com

About Companial

Companial is a service provider and Microsoft distributor for all Cloud platforms and solutions for more than 1,000 Dynamics partners worldwide. Companial has 8 offices in 7 European countries. The company arose from intensive cooperation between 1ClickFactory, an experienced provider of automated technical services to Microsoft partners, and QBS Group, a SMB Value Added Distributor for the international network of Microsoft Partners. Companial’s mission is to enable every Dynamics partner to exceed the expectations of its customers in relation to the four C’s: Community, Competency, Capacity and Capability. www.companial.com

About DycoTrade

DycoTrade has been providing software solutions and services since 2001. It wants to become the industry standard solution for commodity trading companies in the worldwide supply chains of food, feed, and metals, with the goal of increasing revenue, reducing costs, improving business processes and reducing risks. With various developed applications, based on Dynamics 365, DycoTrade is a Microsoft ISV partner with many Microsoft Gold (6) and Silver (2) certificates. DycoTrade is based in the Netherlands and has (large) international customers and partners worldwide in more than 40 countries. www.dycotrade.com

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Tokyu Corporation, L Catterton Real Estate, and Tokyu Department Store Unveil Plans for Landmark Real Estate Project “Shibuya Upper West Project” in the Heart of Tokyo

LCatterton

Renowned Norwegian architecture and design company Snøhetta appointed to design project Swire Hotels’ “The House Collective”, a leading contemporary luxury hotel brand, makes Japan debut

Tokyu Corporation, a conglomerate that is the main part of Tokyu Group, L Catterton Real Estate (“LCRE”), the real estate investment and development arm of L Catterton, the largest global consumer-focused private equity firm, and Tokyu Department Store, Tokyu Group’s retail company, today unveiled plans for the Shibuya Upper West Project, a landmark, high quality, mixed-use project in Tokyo’s vibrant Shibuya district.

Located at the intersection of the affluent residential areas of Shoto and Yoyogi, the cultural neighborhoods of Kamiyamacho and Tomigaya, and the lively Shibuya district, Shibuya Upper West Project (currently Tokyu Department Store’s flagship store) will feature high quality retail, a small luxury hotel, and rental residences. The concept of the project is “Tokyo’s Urban Retreat”, an enclave of relaxation combined with art and culture through a collaboration with the cultural powerhouse Bunkamura. Targeting completion in fiscal year 2027, the Shibuya Upper West Project will become the ‘super-connector’ of these communities, with prime access to large parks and public transportation.

The ground-breaking project leverages Tokyu Group’s deep roots in Shibuya and expertise in mixed-use developments, retail, hospitality, and culture, and LCRE’s extensive experience designing prominent destinations and curating world-class brands. To lead architectural design, the partnership has retained internationally acclaimed Snøhetta, which specializes in designing sustainable spaces fusing conceptual form with landscape and nature. The House Collective, a contemporary luxury brand by Swire Hotels, a subsidiary of Swire Properties, brings a unique, art-conscious offering to a wide fan base across Asia and beyond, marking the first true luxury hotel in Shibuya. Environmental and sustainability objectives are central to the project with the goal of securing international certifications.

Tokyu Corporation President and Representative Director Kazuo Takahashi commented:
“In the year of Tokyu’s Group’s 100th anniversary, we are honored to announce our partnership with luxury real estate investor L Catterton Real Estate, a strong partner with deep experience in creating iconic mixed-use projects who brings a strategic relationship with LVMH and Agache, global design firm Snøhetta and leading contemporary luxury hotel brand Swire Hotels. Snøhetta’s heritage rooted in Norway, one of the most sustainable countries in the world, places social and environmental sustainability at the heart of every project. The House Collective creates elevated luxury experiences with distinctive character and a sense of style. Located at the site of Tokyu Department Store’s flagship store, the new development expects to welcome diverse audiences. With its synergy with the adjacent cultural facility Bunkamura, we believe that the project will play a key part in our vision for “Entertainment City Shibuya” and pave the way for Tokyu Group’s continued growth over the next 100 years.”

L Catterton Real Estate Managing Partner, Mathieu Le Bozec commented:
“We are excited to work with world renowned and likeminded partners, Snøhetta and Swire. This project solidifies our commitment to creating value by developing next-generation, sustainable, world class destinations in key neighborhoods of global cities. In Snøhetta, we partner with a design architect that creates striking architecture and are thrilled to see their building debut in Japan become an important flagship to Shibuya. In Swire and The House Collective, we work with one of Asia’s most sophisticated and luxurious hoteliers and are delighted to introduce a new standard of contemporary hospitality to Tokyo. Together with our partner Tokyu Group, we look forward to seeing this project take shape and cement its position as the intersection of history, tradition, and urban lifestyle in one of the world’s most vibrant cities.”

Robert Greenwood, Partner and Managing Director of Asia at Snøhetta commented:
“We have imagined a new 24-hour vision for Shibuya with this hybrid urban development that combines Landmark and Landform – a bridge between the city and the streets that extends itself into the skyline – connecting Shibuya to Shoto. The design is formed as a single gesture, moving from the horizontal ground plane to the vertical skyline, symbolizing the energy of the area in a single stroke. It is an homage to the duality of Tokyo – a modern city that is steeped in tradition.”

Toby Smith, Deputy Chairman of Swire Hotels commented:
“Witnessing the growth of The House Collective is an extremely proud moment as we venture into new cities to bring our distinctive design and people-first approach to Tokyo. Our partners Tokyu Group and LCRE share our vision of creating a new and vibrant guest experience which, with the opening of our new House, will offer world-class hospitality for both locals and visitors to the city.”

About Tokyu Corporation

Tokyu Corporation is a conglomerate that is the main part of Tokyu Group, which as of March 2022 consists of 224 companies and five other institutions and foundations. With the slogan “Toward a Beautiful Age,” Tokyu has been promoting business in areas closely related to the daily lives of customers mainly along the Tokyu Railway lines, while leveraging “town planning” centered around the railway business as the foundation of the business. In Shibuya, with the aim of realizing “Japan’s most visited city” and “Entertainment City Shibuya,” Tokyu is developing and operating a large number of complex facilities and working to improve the attractiveness of the Greater Shibuya Area. For more information about Tokyu Corporation, please visit tokyu.co.jp/global/

About Tokyu Department Store (TDS)

As Tokyu Group’s retail company, TDS operates department stores, shopping centers, and specialty stores mainly in Shibuya and other areas along the Tokyu Railway lines. In Shibuya, TDS operates the “Shibuya Hikarie ShinQs” store in the landmark “Shibuya Hikarie” project, the prominent and well-visited “Shibuya Tokyu Food Show” and several other key projects in the area. By employing a multi-commercialization strategy that TDS calls “Integrating Retailer” and leveraging their expertise and curation know-how developed through their department store business, TDS aims to continually push the boundaries of enriching the customer experience. For more information about TDS, please visit https://www.tokyu-dept.co.jp/translation/eng.html

About L Catterton Real Estate

With more than $33 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. Leveraging deep category insight, operational excellence, and a broad strategic network of relationships, L Catterton’s team of nearly 200 investment and operating professionals support management teams around the world in building strong, category-leading brands. Since 1989, the firm has made approximately 250 investments in consumer businesses. L Catterton Real Estate seeks to generate attractive risk-adjusted returns by developing high-quality, luxury retail-driven, mixed-use real estate in premium locations globally, building close and long-term partnerships with premier local developers. LCRE provides differentiated operating and strategic support to its partners, all focused on enhancing value and investment returns to the benefit of all stakeholders. Some notable projects include Ginza SIX in Ginza Tokyo, the Miami Design District in Miami, and the Amazing Brentwood in Burnaby, British Colombia. For more information about L Catterton, please visit lcatterton.com.

About Snøhetta

For more than 30 years, Snøhetta has designed some of the world’s most notable public and cultural projects, including the new library in Alexandria, Egypt, the Norwegian National Opera and Ballet in Oslo and the National September 11 Memorial Museum Pavilion at the World Trade Center in New York City, among many others.

Since its inception, Snøhetta has maintained an original transdisciplinary approach, and integrates architecture, landscape, interior, art, product, graphic and digital design across their projects. The practice has a global presence, with offices spanning from Oslo, Paris, and Innsbruck, to New York, Hong Kong, Adelaide and San Francisco representing a multitude of different cultural and national origins with over 350 employees. While having an international approach, Snøhetta still has a strong and unified culture that is well-rooted within the Nordic model, where equality, openness, generosity and sustainability are translated into their projects.

About Swire Group and Swire Properties

The Swire Group is a highly diversified global corporation, with businesses encompassing property, beverages and food, aviation, marine, as well as trading and industrial activities. Its core businesses are mainly focused in Asia, with its key operations in Hong Kong and the Chinese Mainland. Within Asia, Swire’s activities primarily come under the Group’s publicly quoted arm, Swire Pacific Limited (HKSE: 00019/00087), which is the largest shareholder in two Hong Kong listed companies: Swire Properties and Cathay Pacific Airways. Swire Properties develops and manages commercial, retail, hotel and residential properties, with a particular focus on mixed-use developments in prime locations at major mass transportation intersections.

About The House Collective

The House Collective by Swire Hotels is a group of refined, highly individual properties that defy comparison. Each uniquely imagined, The Opposite House in Beijing, The Upper House in Hong Kong, The Temple House in Chengdu and The Middle House in Shanghai were designed for seasoned travellers who seek a different, intimate and personalised experience in luxury travel. Each House is a sophisticated, singular piece of design, created by talented architects and designers, that reflect the unique qualities of their surroundings.

Visit The House Collective’s website at www.thehousecollective.com.

Business Overview and Location (scheduled, may be subject to change)

Developer Tokyu Corporation, L Catterton Real Estate, Tokyu Department Store
Address 2-24-1 Dogenzaka, Shibuya-ku, Tokyo
Use Retail, hotel, residential, etc.
Site Area 13,675m2 (includes Bunkamura)
GFA 117,000m2 (includes Bunkamura)
Floors New development: B4F / 36F
Bunkamura: B2F/ 8F
Height 164.8m
Design Architect Snøhetta
Executive Architect Design JV between Nikken Sekkei Ltd. and Tokyu Architects & Engineers Inc.
Completion FY 2027 (scheduled)

The two key features designed into the project are:
The Hive: a vibrant and lively atrium anchoring the heart of the project
The Sanctuary: a healing cultural space for visitors to engage in activities

Media Contact:
Tokyu Corporation, Corporate Affairs Headquarters, Public Relations Group
Press Contact: prd-t@tkk.tokyu.co.jp

L Catterton Real Estate
Press Contact: Julie Hamilton / +1-203-742-5185 / julie.hamilton@lcatterton.com

Tokyu Department Store, Public Relations Department
Press contact: kouho@tokyu-dept.co.jp

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IK Partners enters exclusive negotiations to sell LINXIS Group to Hillenbrand

IK Partners

IK Partners (“IK”) is pleased to announce that an affiliate of the IK VIII Fund (“IK VIII”) has entered into a put option agreement to sell its stake in LINXIS Group (“LINXIS” or “the Group”) to Hillenbrand, Inc. (NYSE:HI) (“Hillenbrand”).

Founded in 1988 and headquartered in Nantes, France, LINXIS is a leading global supplier of industrial processing equipment and automation solutions for the food, pharma and cosmetic industries.

The Group consists of six market-leading brands – VMI, Diosna, Shaffer, Shick Esteve, Unifiller and Bakon – with more than 1,100 employees collectively. Cutting edge in-house engineering and R&D capabilities are both key drivers of outperformance versus peers.

Operating various design and assembly facilities in Europe and North America, it serves thousands of customers across 100 countries, specialising in the design, installation and maintenance of mission-critical equipment. LINXIS is organised around three complementary business units: Mixing Technology, Ingredient Automation and Portion Process. Over the years, the Group has cemented its market-leading positions in both Europe and North America, across all three of these units.

IK acquired LINXIS from Equistone in October 2017 and has transformed the Group substantially through add-on acquisitions; Unifiller in 2018 and Laramore, Bakon and Shaffer in 2021. This, coupled with strategically developing the product offering and its cross-selling capabilities and the introduction of an operational excellence programme, has allowed for significant growth and global expansion.

Tim Cook, CEO of LINXIS Group, commented: “We are delighted to have enjoyed a successful partnership with IK, which has seen LINXIS grow significantly since 2017. The additional financial firepower and market expertise brought by the IK team has allowed us to pursue a number of inorganic growth opportunities and expand the business on a global scale. We look forward to continuing our growth trajectory in partnership with Hillenbrand.”

Rémi Buttiaux, Managing Partner at IK and Advisor to the IK VIII Fund, added: “It has been a pleasure working with the team at LINXIS for the past five years. Through a selective acquisition strategy and the development of several purchasing and aftersales initiatives, we were able to support the excellent management team led by Tim Cook (CEO) and Didier Soumet (Chairman) and drive significant growth for the business. We wish them well for the future.”

Kim Ryan, President and CEO of Hillenbrand, said: “LINXIS will continue to build upon our profitable growth strategy by further strengthening and accelerating our position in the attractive food end market and enhancing the technical capabilities of our products and service offerings. By leveraging the combined capabilities of our Coperion brand and the LINXIS brands, we will be able to offer more comprehensive processing solutions, creating significant value for our customers.”

For further questions, please contact:

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

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in 170 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

About LINXIS Group

LINXIS Group gathers leaders in specialized equipment for the food and health industries – Bakon, Diosna, Shick Esteve, Unifiller and VMI are experts in ingredient automation, pre-dough systems, mixing and depositing technologies. Their common mission is to grow their position as global leaders in process equipment design and supply, for the customers they serve all around the world.
www.linxisgroup.com

About Hillenbrand

Hillenbrand (NYSE: HI) is a global industrial company operating in over 40 countries with over 10,000 associates serving a wide variety of industries around the world. Guided by our Purpose — Shape What Matters For Tomorrow™ — we pursue excellence, collaboration, and innovation to consistently shape solutions that best serve our associates, customers, communities, and other stakeholders. Hillenbrand’s portfolio includes brands such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to Batesville. To learn more, visit: www.Hillenbrand.com

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AbbVie and iSTAR Medical Announce Strategic Alliance for the Treatment of Glaucoma

GIMV
  • Alliance will provide opportunity for AbbVie to further expand its diverse eye care portfolio and provide additional treatment options for glaucoma patients
  • Collaboration further supports the role of MINIject® in the treatment of glaucoma and accelerates goal to bring MINIject to more patients globally
  • Deal terms include a $60M upfront payment to iSTAR Medical
  • iSTAR Medical to continue development and commercialization of the MINIject device up to completion of the U.S. PMA study

NORTH CHICAGO, Ill. and WAVRE, BELGIUM, July 20, 2022 – AbbVie (NYSE: ABBV) and iSTAR Medical SA, today announced a strategic transaction to further develop and commercialize iSTAR Medical’s MINIject® device, a next-generation minimally invasive glaucoma surgical (MIGS) device for patients with glaucoma. This complementary alliance will support iSTAR Medical’s development and commercial efforts for MINIject®, as well as provide an opportunity to expand AbbVie’s eye care business, building on its glaucoma portfolio which includes drops, sustained release implants, and stent offerings.

MINIject® received Conformité Européenne (CE) marking approval to commercialize in European countries in the last quarter of 2021 and launched commercially in select European countries in early 2022. iSTAR Medical is currently enrolling a U.S. Pre-Market Approval study (STAR-V) to enable commercialization in the U.S.

“As a leading company in eye care with a commitment to a broad and diverse portfolio from the front to the back of the eye, along with our global footprint and infrastructure in glaucoma, we are well-positioned to support bringing this MIGS offering to patients and glaucoma specialists through this strategic alliance,” said Michael Robinson, M.D, Vice President, Global Therapeutic Area Head of Eye Care, AbbVie. “This alliance with iSTAR Medical is an important step as we continue to be an innovator in glaucoma by maximizing the value of interventional approaches throughout the treatment paradigm.”

“Today’s announcement is validation of the transformational role of MINIject in the treatment of glaucoma,” said Michel Vanbrabant, Chief Executive Officer, iSTAR Medical. “Our commitment has always been to enable more glaucoma patients globally to be treated effectively in a minimally-invasive manner with our MINIject® MIGS device, and this alliance accelerates that goal, especially in the United States. We will benefit from AbbVie’s strong global experience and knowledge base already established in glaucoma, and we are excited to be working with such a world class team.”

You can download the full press release in pdf.

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I Squared Capital to Acquire VLS Environmental Solutions, a Leading Sustainability Solutions and ESG-Friendly Waste Services Company in North America, From Aurora Capital Partners

Aurora Capital

MIAMI–(BUSINESS WIRE)–I Squared Capital, a leading global infrastructure investment manager, announced today that it has signed a definitive agreement, through its ISQ Global Infrastructure Fund III, to acquire VLS Environmental Solutions (“VLS”) from Aurora Capital Partners, a leading middle-market private equity firm. VLS provides mission-critical, customized waste and specialty cleaning and repair services to a variety of highly regulated industries in North America. Financial terms of the transaction were not disclosed.

VLS operates two principal segments: non-hazardous industrial waste handling, treatment, and sustainable disposal, as well as rail and marine specialty cleaning and repair. As one of the only nationwide providers of ESG-friendly industrial waste solutions, the company’s sustainable disposal solutions are especially attractive for customers with zero-waste-to-landfill initiatives. The company offers a comprehensive set of waste management solutions that process industrial non-hazardous waste to create alternative engineered fuels for industrial processes, fuel for waste-to-energy generation, treated wastewater, and landfill solidification.

The transaction is expected to close in the third quarter of 2022, subject to customary regulatory approvals.

Houlihan Lokey served as lead financial advisor, Robert W. Baird served as co-financial advisor, and Gibson, Dunn & Crutcher LLP served as legal advisor to Aurora Capital Partners. Jefferies LLC served as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to I Squared Capital.

About I Squared Capital

I Squared Capital is an independent global infrastructure investment manager with over $36 billion in assets under management focusing on energy, environmental infrastructure, utilities, digital infrastructure, transport and social infrastructure in North America, Europe, Latin America and Asia. Headquartered in Miami, the firm has offices in Hong Kong, London, New Delhi, Singapore and Taipei.

About Aurora Capital Partners

Aurora Capital Partners is a leading Los Angeles-based private equity firm with over $4.5 billion in assets under management. Founded in 1991, the firm focuses principally on control investments in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. Aurora provides unique resources to its portfolio companies through its Strategy & Operations Program and its team of experienced operating advisors. Aurora’s investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. For more information about Aurora Capital Partners, visit: www.auroracap.com.

About VLS Environmental Solutions

VLS’ Waste division provides customized waste processing solutions for non-hazardous industrial and commercial waste, including landfill diversion and sustainability programs, solidification of liquid waste, recycling, and wastewater treatment. The company’s Railcar Cleaning division provides specialty cleaning services for difficult-to-clean products including chemicals, hardened materials and pressurized gases using the most environmentally friendly and safe processes in the industry. Also, the company’s Marine division has state-of-the-art barge cleaning and repair facilities for a wide variety of petroleum and chemical solvents. Today, VLS has over 800 employees in 28 locations across the country. For more information about VLS, visit: www.vlses.com.

Contacts
I Squared Capital

Investors
Andreas Moon, Partner and Head of Investor Relations
+1 (786) 693-5739 | andreas.moon@isquaredcapital.com

Media
Brunswick Group
Clare Pickett
+1 (347) 477-7475
ISQUARED@brunswickgroup.com

Aurora Capital Partners
ASC Advisors
Steve Bruce / Taylor Ingraham
+1 (203) 992-1230
sbruce@ascadvisors.com / tingraham@ascadvisors.com

I SQUARED CAPITAL
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Contacts
I Squared Capital

Investors
Andreas Moon, Partner and Head of Investor Relations
+1 (786) 693-5739 | andreas.moon@isquaredcapital.com

Media
Brunswick Group
Clare Pickett
+1 (347) 477-7475
ISQUARED@brunswickgroup.com

Aurora Capital Partners
ASC Advisors
Steve Bruce / Taylor Ingraham
+1 (203) 992-1230
sbruce@ascadvisors.com / tingraham@ascadvisors.com

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Ardian arranges a unitranche financing to support RESONANCE IMAGERIE’s growth

Ardian

20 July 2022 Private Debt France, Paris

RESONANCE IMAGERIE secures a major financing with Andera MidCap, Ardian and Five Arrows Debt Partners.

RESONANCE IMAGERIE is a medical imaging group comprised of 40 doctors. It manages 23 units of advanced imaging equipment (MRIs and scanners) at 15 sites in Paris, the Ile-de-France region (Val d’Oise, Yvelines, Seine et Marne) and in Centre-Val-de-Loire (Chartres, Orléans). The group has experienced strong growth since 2011, notably through acquisitions.

The purpose of this new financing is to complete three new acquisitions, which will bring in 17 new MRIs and scanners. It will also help accelerate the external growth strategy carried out by RESONANCE IMAGERIE in a quickly consolidating market.

RESONANCE IMAGERIE differentiates itself thanks to an emphasis on the medical strategy, with a consolidation approach based on a “by doctors, for doctors” philosophy. With this new financing, mainly structured around a unitranche debt arranged by the Private Debt team at Ardian, the structure remains almost exclusively owned by the doctors. This unique approach of an integrated group with a medical shareholding and solid financial resources should allow RESONANCE IMAGERIE to accelerate its buy and build strategy.

”We are delighted to have top-tier partners such as Andera MidCap, Ardian and Five Arrows Debt Partners on board to help us finance the acquisition of medical imaging centers. We offer an innovative alternative that many radiologists are interested in, with a focused approach on the medical project, management by young, highly committed doctors (which gives the team long-term visibility) and financial resources adapted to the consolidation of the sector.” Radiology Doctors, Imaging Resonance Directors

”We are thrilled to support the ambitious development project of RESONANCE IMAGERIE, led by its managing radiologists. Their strong commitment immediately convinced us. We are certain that the tailor-made and flexible financing we are providing, which includes a significant confirmed acquisition line, will enable them to actively pursue the ongoing consolidation of the sector.” Gregory Pernot, Managing Director in the Ardian Private Debt team

PARTIES TO THE TRANSACTION

  • RESONANCE IMAGERIE Group

    • M&A / financial advisor: Capstone Finance (Thaddée Willart, Louis Meurillon)
    • Legal advisor (financial): Gibson Dunn (Amanda Bevan-de Bernede, Arnaud Moulin)
    • Legal advisor (M&A): Gibson Dunn (Bertrand Delauney, Clémence Martinez)
    • Legal advisor (tax): Gibson Dunn (Jérôme Delaurière)
    • Legal advisor (regulatory): A2D Avocats (Alix Domas-Descos, Paul Henry Derreumaux)
    • Financial, Tax and social audit: PwC

  • Ardian

    • Grégory Pernot, Melchior Huet, Hadrien Barnier
    • Legal advisor (financial): Willkie Farr & Gallagher (Paul Lombard, Ghita Lorabi, Martin Jouvenot)

 

ABOUT ARDIAN

Ardian is a world leading private investment house, managing or advising $130bn of assets on behalf of more than 1,300 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. We also provide a specialist service for private clients through Ardian Private Wealth Solutions. 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 900+ employees, spread across 15 offices in Europe, the Americas and Asia, 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.

www.ardian.com

Media Contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Sole Source Capital Portfolio Company Peak Technologies Acquires VisionID & Dalosy

Sole source captial

Sole Source Capital Portfolio Company Peak Technologies Acquires Siena Analytics

Peak Technologies to Benefit from Siena Analytics’ Powerful Supply Chain & Logistics Software and Artificial Intelligence Solution

DALLAS–Sole Source Capital LLC, an industrial-focused private equity firm, today announced that its portfolio company, Peak Technologies, a leading system integrator in the Automatic Identification and Data Capture (“AIDC”) market, has acquired Siena Analytics. The acquisition marks Sole Source Capital’s 16th investment in the AIDC industry, and the eighth add-on acquisition for Peak Technologies since Sole Source acquired the company in 2021. The eight prior add-on acquisitions for Peak Technologies include Optical Phusion, Inovity, Bar Code Direct, DBK Concepts, Avalon Integration, Graphic Label, VisionID and Dalosy. The acquisition of Siena Analytics adds a critical proprietary logistics software solution to the Peak Technologies portfolio that will help customers address visibility and automation issues affecting all supply chain businesses. Terms of the transaction were not disclosed.

Headquartered in Franklin, MA and founded in 2013, Siena Analytics is a provider of supply chain and logistics analytics software and artificial intelligence solutions. Siena Analytics offers solutions that make logistics teams more efficient, by using A.I. and machine vision to instantly scale manual processes and leverage data that would otherwise be left on the distribution center floor. Siena’s analytics tools were developed specifically for logistics by its founders who have significant supply chain and logistics industry experience. Siena integrates seamlessly into existing hardware, enterprise software, and I.T. infrastructure. The Siena analytics team can implement the solution without significant investment, on any sensor system. Founder and CEO John Dwinell will remain in his current role.

“Siena’s suite of products yield intelligence for improved supply chain and distribution visibility by leveraging A.I. and machine vision to power digital transformation from the heart of the enterprise. With Peak’s current supply chain and logistics solutions, the Siena analytics suite will support emerging opportunities in micro-fulfillment and provide mobile and retail visibility in the omni-channel supply chain,” said Tony Rivers, CEO of Peak Technologies.

“We are excited to join the team at Peak Technologies. The combination of Peak’s experience in the AIDC industry, together with the team and technology at Siena, will help us deliver more value and be the trusted digital transformation partner for our customers,” said John Dwinell, CEO of Siena Analytics.

About Sole Source Capital

Founded in 2016 by David Fredston, Sole Source Capital is a private equity firm that thematically invests in fragmented, high-growth industrial subsectors. Sole Source seeks founder-owned businesses or corporate carve-outs that will benefit from the team’s operating and M&A capabilities. The Firm has a strong operating heritage that enables it to execute a buy-and-build strategy with significant downside protection. The Firm is headquartered in Dallas, Texas with offices in Santa Monica, California. For more information, please visit www.solesourcecapital.com or contact investor.relations@solesourcecapital.com.

About Peak Technologies

Headquartered in Columbia, Maryland, Peak Technologies is a leading system integrator of digital supply chain, retail and mobile workforce solutions. With over 35 years of supply chain, field mobility and retail services expertise, Peak Technologies has an insider’s perspective of the market; its origins, participants, and dynamic forces of change. With extensive application experience across industry segments, Peak Technologies is able to provide objective consultancy on business processes, software, hardware, as well as turn-key solutions for equipment repair, life cycle support, technology, vertical/application and business services. For more information, please visit www.peaktech.com.

About Siena Analytics

Siena Analytics helps companies quickly identify, diagnose, and resolve issues with their high-volume logistics operations whether sorting, scanning, or dimensioning equipment. Our Siena Insights software suite meets the demanding security standards of Fortune 500 companies and processes millions of packages per day. By incorporating Deep Learning, we automate manual workflows to increase efficiency and accuracy. For more information, please visit https://sienaanalytics.com/.

Contacts

Media:
Bill Mendel
Mendel Communications LLC
(212) 397-1030
bill@mendelcommunications.com

Sole Source Capital:
Sumil Menon
Head of Investor Relations
investor.relations@solesourcecapital.com

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RedBird Capital Partners to Acquire Talent Systems, The Industry’s Premier Tech-Driven Global Casting Marketplace

Redbird capital

LOS ANGELES & NEW YORK–(BUSINESS WIRE)–RedBird Capital Partners (“RedBird”), along with private markets investment firm StepStone Group (Nasdaq: STEP), today announced a definitive agreement to acquire a majority stake in Talent Systems, the preeminent casting software and talent marketplace for the entertainment industry. Talent Systems was formed by Co-CEOs Rafi Gordon and Alex Amin and in 2021 managed over 50,000 projects and more than 2 million auditions, facilitating the effective discovery, auditioning and hiring of talent across film, television, commercials, theater and digital productions. Financial terms were not disclosed.

With the deepest pool of professional talent and project roles, Talent Systems delivers valuable solutions to all constituents across the casting process, including performers, studios, networks, casting directors, and talent and creative agencies. Its platform is supported by its interconnected brands that include Casting Networks, Spotlight, Cast It Systems, Casting Frontier and the recently acquired eTribez Casting Platform and Staff Me Up.

Andy Gordon, Partner at RedBird, said, “With Talent Systems, Rafi and Alex have created a platform that offers efficiencies to a media and entertainment ecosystem managing a massive increase in supply and demand of content creation. Drawing on RedBird’s investment experience and relationships in the industry, together we have an opportunity to continue to scale their business when it is needed most. We are also pleased that Rafi and Alex, along with their leadership team and existing financial partner Caltius, will continue to have a significant equity stake going forward.”

Talent Systems Co-CEOs Rafi Gordon and Alex Amin added, “RedBird’s extensive track record of building long-term, successful businesses coupled with its deep expertise in the entertainment industry makes them the ideal partner to scale Talent Systems. We’re confident that the partnership and resources that RedBird brings will add to the company’s trajectory and our primary goal of delivering best-in-class technology capabilities to our customers across the talent, casting director, studio, and agency segments.”

“Talent Systems is committed to delivering value to its members across the entertainment ecosystem,” said Garrick Ahn, Managing Director at Caltius Equity Partners. “We are excited to have RedBird as the lead partner for Talent Systems’ next phase of growth and are pleased to continue as a minority investor going forward.”

Fried, Frank, Harris, Shriver & Jacobson LLP served as legal advisor to RedBird. William Blair served as financial advisor to Talent Systems, and Morgan Lewis & Bockius LLP served as legal advisor to the company.

About Talent Systems

Talent Systems, LLC is the leading technology solution provider for casting and auditioning to the entertainment industry. Casting directors and agents worldwide use Talent Systems’ portfolio of products to source and manage talent across film, television, commercials, theater and digital projects, powering an unparalleled, global casting software ecosystem. Talent Systems is headquartered in Los Angeles and operates in the US, Canada, Mexico, UK, Australia and India.

About RedBird Capital Partners

RedBird Capital Partners is a private investment firm focused on building high-growth companies alongside entrepreneurs in its four areas of domain expertise: sports, media, consumer and financial services. Founded by former Goldman Sachs Partner Gerry Cardinale in 2014, RedBird today manages over $6 billion of capital on behalf of a highly curated group of blue-chip global institutional and family office investors. RedBird’s network of entrepreneurs is central to its investment sourcing and company-building strategy that helps founders achieve their business objectives and long-term vision. Since inception, RedBird has invested in over 30 platform companies and 80 add on acquisitions with total enterprise value exceeding $30 billion. For more information, please go to www.redbirdcap.com.

Contacts

Media

Melissa Zukerman/Paul Pflug
Principal Communications Group
melissa@pcommgroup.com
paul@pcommgroup.com
323-658-1555

Dan Gagnier
Gagnier Communications
dg@gagnierfc.com
646-569-5897

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United Talent Agency and EQT Private Equity announce strategic partnership

eqt

BEVERLY HILLS, CA and NEW YORK, NY (July 18, 2022) – Leading global talent, entertainment and sports company, United Talent Agency (UTA or the company), and global investment organization, EQT, today announced that the EQT X fund (EQT Private Equity) has agreed to become a strategic investor in UTA. The move recognizes UTA’s artist-first approach and recent growth trajectory and will help fuel the next phase of investments in talent, innovation and international expansion.

Under the transaction, the UTA partnership and leadership continue to hold the controlling interest in the company, with EQT becoming the largest outside shareholder. As part of the transaction, Investcorp, a global alternative investment firm, which invested in UTA in 2018, will sell its full minority stake to EQT, and EQT will also purchase a portion of existing stakes from continuing shareholders including PSP Investments.

Co-founded in 1991 by CEO Jeremy Zimmer, UTA represents iconic talent across a broad range of categories including TV, film, music, sports, digital media, publishing, podcasts, and more. It also provides advisory and marketing services to leading global brands. UTA has undergone a dramatic strategic expansion over the past few years, including the acquisition of top European publishing and talent agency, The Curtis Brown Group, in June of this year, and the purchase of MediaLink, the leading strategic advisory firm for entertainment and media companies, in December 2021. The company also vaulted into the upper echelon of sports representation through its 2019 strategic investment in KLUTCH Sports Group. Over four years, the number of employees at the company has almost doubled to nearly 1,900 employees.

Media and entertainment continue to benefit from long-term tailwinds such as increased content distribution platforms, including streaming and the globalization of content and fandom. UTA sits at the nexus, uniting ideas, opportunities, and talent across its growing platform of capabilities. With this new partnership, EQT’s financial resources, expertise in capital markets, in-house digital team and global footprint will support UTA’s continued growth plans, further accelerating growth through investments in its core businesses as well as expansion into adjacent opportunities.

Jeremy Zimmer, CEO of UTA, said, “EQT is the perfect partner for UTA’s next phase of growth. They have deep international capabilities, a strong balance sheet, and most importantly they truly appreciate and respect the culture that we have built at UTA. David Kramer and I led this process, and we made sure to listen to our instincts about who we felt would really help us drive growth while protecting our culture. We believe that we found the right partner to maintain that balance.”

Kasper Knokgaard, EQT Partner and Global Head of the Services Sector Team, said, “EQT invests in industry leading platforms that are well situated for strong and sustained growth across economic cycles, are aligned with our values, and where we know we can create significant value – UTA checks all the boxes. We are excited to partner with Jeremy Zimmer and the entire team to accelerate UTA’s growth trajectory and enable more opportunities across entertainment and media.”

Dave Tayeh, Head of Private Equity – North America at Investcorp, said, “Our investment in UTA was highly successful and we are proud to have partnered with the UTA team as they achieved exceptional growth over the past four years. The company has strengthened its position as a market leader and we wish the team and EQT continued success.”

Martin Longchamps, Managing Director, Head of Origination and Execution at PSP Investments, said, “Since our original investment in 2018, PSP Investments and Investcorp have been working closely with Jeremy Zimmer and his management team to continue to strengthen UTA’s exceptional market position. During this time, UTA has proven its abilities to perform, innovate and diversify as a leading entertainment company. We are excited to continue this journey with UTA and to welcome EQT. Together, we will be a driving force in supporting UTA’s long-term growth.”

The transaction is expected to close later this month.

UTA was advised by Moelis & Company (exclusive financial advisor) and Skadden Arps, Slate, Meagher & Flom LLP (legal). EQT Private Equity was advised by Weil, Gotshal & Manges (legal) and Bain & Company (commercial).

With the investment in UTA, EQT X (target fund size of EUR 20.0 billion and hard cap of EUR 21.5 billion) will be 5-10 percent invested based on its target fund size. EQT X will be activated and start charging management fees upon the closing of its first transaction, currently expected to be the closing of the investment in UTA. EQT IX is currently 85-90 percent invested and continues to be in its commitment period but management fees will, following activation of EQT X, be based on net invested capital.

Contacts

UTA

Richard Siklos, Richard.Siklos@unitedtalent.com, 310-385-2800

EQT

Stephanie Greengarten, press@eqtpartners.com, +46 8 506 55 334

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