Category Archives: News

Apax Funds acquire Bazooka Candy Brands

Apax

Funds advised by Apax Partners LLP (“Apax”) announced today that they have completed the acquisition of Bazooka Candy Brands (“Bazooka” or “the Company”), a portfolio of leading non-chocolate confectionary brands, from Michael D. Eisner’s Tornante Company and funds affiliated with Madison Dearborn Partners (“MDP”). 

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Bazooka produces, markets, and distributes a range of iconic confectionary brands, including Ring Pop®, Push Pop®, Baby Bottle Pop®, Juicy Drop®, and Bazooka Bubble Gum®. The Company’s portfolio spans lollipops, gummies, chewy candy, gum, and chocolate, packed in highly unique formats to deliver Edible Entertainment® experiences to generations of customers worldwide. Over the past several years, Bazooka’s U.S. retail sales growth has significantly outpaced the overall confectionary category, and in the year-to-date period through August 2023, retail sales have grown approximately 29% year-over-year[1]. Effective upon the transaction’s closing, Tony Jacobs, Bazooka Candy Brands’ long-time President, has been promoted to Chief Executive Officer.

The Apax team, working in partnership with Bazooka’s management team, will look to stand the Company up as an independent business and build on the success of Bazooka’s global portfolio of beloved confectionery brands. In support of its growth efforts, the team will focus on distribution growth, product innovation, geographic expansion, and the strategic acquisition of brands in complementary categories.

“We’re incredibly excited to partner with Apax in this next stage of our growth journey,” said Tony Jacobs, Chief Executive Officer, Bazooka. “Bazooka will continue to build on our history of successful brand-building and innovation to drive outsized growth in the U.S. and globally. We have an incredibly talented team, and I’m very proud of the leadership position we’ve been able to establish in the marketplace. Together with Apax, we look forward to continuing to deliver truly differentiated and exciting products that customers love. I also want to thank our former owners, Tornante and MDP, as well as CEO Michael Brandstaedter, for their support and commitment to our brands, which have enabled our strong performance and have positioned the business for our next chapter of success.”  

“It’s rare to have the opportunity to partner with a business that can boast the success and heritage that Bazooka has, and we are excited to work with the entire team on this next chapter for the business,” said Nick Hartman, Partner, Apax. “Bazooka fits squarely within our team’s focus on investments in well-positioned consumer packaged goods categories, and we see a compelling opportunity to leverage our sector knowledge to help the Company achieve its next phase of growth.”

“This transaction is the culmination of an extremely successful and gratifying tenure of ownership of Bazooka, which would not have been possible without the foresight and leadership of Tornante’s incredibly talented President, Andy Redman,” said Michael D. Eisner. “Together with MDP, an exceptional and constructive partner throughout, and our outstanding corporate management, including Mike Brandstaedter and Tony Jacobs, we have grown Bazooka into a group of the most iconic candy brands on the market. We look forward to celebrating the Company’s continued success from the sideline.”

“It has been a privilege to partner with Michael Eisner and Tornante, and to work with Bazooka’s leadership for the duration of our investment partnership,” said MDP Managing Director Scott G. Pasquini. “Tony Jacobs and his leadership team are the best in the business, and we know they will continue to guide Bazooka to new heights.”

Financial terms were not disclosed. Macquarie Capital and Simpson, Thacher & Bartlett LLP served as financial and legal advisors, respectively, to Apax. Deutsche Bank and Kirkland & Ellis LLP served as financial and legal advisors, respectively, to Bazooka Candy Brands.

-ENDS-

ABOUT BAZOOKA

Bazooka Candy Brands, until recently a division of The Bazooka Companies, Inc. features a range of iconic produces and high-quality candy products such as Ring Pop®, Push Pop®, Baby Bottle Pop®, Juicy Drop® Pop, and of course, Bazooka® bubble gum. For additional information, visit  www.bazookacandybrands.com

ABOUT APAX

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Internet/Consumer, Tech, Services, and Healthcare. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

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

ABOUT THE TORNANTE COMPANY

Founded in 2005 by Michael Eisner, The Tornante Company is a privately held company that invests in, acquires, and operates companies in media and entertainment.

ABOUT MADISON DEARBORN PARTNERS

Madison Dearborn Partners, LLC (“MDP”) is a leading private equity investment firm based in Chicago. Since MDP’s formation in 1992, the firm has raised aggregate capital of more than $29 billion and has completed over 160 platform investments. MDP invests across five dedicated industry verticals, including basic industries; business and government software and services; financial services; health care; and telecom, media and technology services. For more information, please visit www.mdcp.com.

[1] Information Resources, Inc. (IRI)

 

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Ratos company SSEA wins prestigious contract to build new town hall in Ängelholm, Sweden

Ratos

The winners of the construction and architecture competition “Ängelholm’s new town hall” have now been presented. The Ratos-owned construction company SSEA (a part of SSEA Group) has been selected, together with the architect firm Liljewall, to design and construct the new town hall. The town hall is expected to be a spectacular meeting place.

The project was announced as an architecture and construction competition at year-end 2022. The turnkey partnering project will commence immediately with project planning. The town hall is expected to be complete in 2026/2027

“Winning such a prestigious contract is an indication of the strength of Ratos’s infrastructure and construction operations. With its partnering model and expertise, SSEA is a leader in the industry, even in a tougher macroeconomic climate. We are delighted to have secured yet another high-profile sustainable construction project in our portfolio as sustainable buildings are profitable for everyone involved,” says Christian Johansson Gebauer, Chairman of the Board of SSEA Group and President, Business Area Construction & Services, Ratos.

The new town hall will be a spectacular meeting place. The building will act as a model for sustainable construction and architecture. Timber frames and recycled brick are important steps in achieving a low climate impact. The building will be designed in accordance with the Breeam Excellent and Well Gold sustainability certifications.

“We are very pleased to be involved in the construction of the landmark that Ängelholm’s new town hall will become, from both an architectural and a sustainability perspective. We are truly looking forward to designing and constructing Ängelholm’s new meeting point together with Ängelholm Municipality and Liljewall Architects,” says Christian Wieland, CEO of SSEA Group.

About SSEA
SSEA is part of the Ratos-owned construction group SSEA Group. SSEA has solid expertise in carrying out large and technically complex collaboration/partnering projects. SSEA carries out construction projects for customers in the private and public sectors across Sweden. The head office is located in Stockholm, with regional offices in Malmö and Luleå. The project portfolio includes Sweden’s tallest timber building, Sara Kulturhus in Skellefteå.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21
Christian Wieland, CEO, SSEA Group, +46 70 654 09 30

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 33 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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CapMan Real Estate invests in logistics development project in Greater Jönköping, Sweden

Capman

CapMan Real Estate invests in logistics development project in Greater Jönköping, Sweden

CapMan Real Estate acquires a logistics development project situated in LogPoint South, a prime logistics hub ca 20 km south of Jönköping city centre in Sweden. The investment is the first greenfield logistics development project for CapMan Real Estate. The investment is made in a joint venture together with logistics development operating partner Nordsten Development. The seller is Venturi Fastigheter, a Swedish property development company.

The property comprises of approx. 340,000 square meters of land, which can be developed into 200,000 square meters of prime logistic space. The property is located with strong visibility and access to highway E4, one of Sweden’s main highways. The transaction is conditional upon the zoning plan for the property gaining legal force.

The Jönköping area is ranked as the third best logistic hub in Sweden by the industry business paper Intelligent Logistik. Jönköping is located in the centre of the “Logistic Triangle”, which connects the capital cities of Scandinavia, providing access to 80% of the Swedish population within a radius of 400 kilometres. The area holds several modern logistic properties and is favoured by many companies due to its proximity to major highways.

”We are excited to acquire this property for development of prime logistic premises. This marks CapMan Real Estates entry into the logistic development market, and it complements our existing fund portfolio very well. We have set the bar high with our ESG targets in this project, aiming for EU Taxonomy alignment and to certify the buildings with a minimum of BREEAM-SE New Construction Excellent. We look forward to developing the property into modern logistic premises attracting a diverse range of tenants, together with our partner Nordsten Development”, says Marcus Lotzman, Investment Director, CapMan Real Estate Sweden.

This is the 14th investment of the CapMan Nordic Real Estate Fund III.

CapMan Real Estate manages approximately €4.2 billion in real estate assets and the Real Estate Team comprises over 70 real estate professionals located in Helsinki, Stockholm, Copenhagen, Oslo and London.

For more information, please contact:

Magnus Berglund, Partner, Head of CapMan Real Estate Norway and Sweden, +46 (0) 707 86 68 08

Marcus Lotzman, Investment Director, CapMan Real Estate Sweden, +46 (0) 706 80 60 81

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With €5.1 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have set greenhouse gas reduction targets under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business consists of procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.

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SUPERP has brought investor Egeria on board

Egeria

SUPERP has brought investor Egeria on board to collaborate with the existing management and current shareholders in advancing the company’s further development.

SUPERP has been operating as a high-quality SAP consultancy service provider in the Dutch market since 1999. The company has experienced significant growth in recent years and offers a wide range of SAP-related services. It has also established leading market positions in knowledge domains such as security, testing, and development. Additionally, the service offering for SAP-using organizations has expanded further through subsidiaries MxBlue (Mendix) and SxBlue (SalesForce). As of 2023, over 300 consultants work under the SUPERP banner to assist leading companies in achieving their digital and SAP-related challenges.

EGERIA provides SUPERP with the necessary additional financial resources, operational capabilities and knowhow to further realize its growth ambitions. In the coming years, SUPERP will place extra focus on expanding its service offerings to continue meeting the growing needs of its clients. Sander van Alphen, partner at Egeria, stated: “We are impressed by the growth that the SUPERP team has achieved in recent years. Through a combination of entrepreneurship, deep technical knowledge, long-term client relationships, and an appealing company culture, SUPERP has secured a strong position in the market for SAP (related) services. We look forward to supporting the SUPERP team in realizing their ambition to grow further and become even more relevant to their esteemed clients.”

Ruud Hoogendorp, Managing Director at SUPERP, expressed, “We are extremely proud of our company and what we have accomplished with our people over the past 24 years. We have created an environment where both our consultants and our clients feel at home and valued. To continue fulfilling the ambitions of our clients and our organization, we are very pleased with the additional capabilities we gain through our collaboration with Egeria.”

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KKR expands operations in India with new Gurugram Office

KKR

Gurugram-based team to support KKR’s growth and business operations
Appoints Nisha Awasthi as Head of Office
New office bolsters Firm’s presence in India and Asia Pacific

GURUGRAM, India–(BUSINESS WIRE)– Leading global investment firm KKR today announced it is expanding its operations in India with the opening of a new office in Gurugram.

Ryan Stork, Chief Operating Officer of KKR, said, “Having a team in Gurugram will strengthen our operating model across the globe by expanding our reach and enabling us to tap into a fantastic talent pool. Today’s milestone marks the beginning of a sizable investment in talent in India, as the new location is an important part of how we scale our global operations and service our clients. We are delighted to be part of the Gurugram business community.”

KKR expects to welcome approximately 150 new employees in Gurugram by early 2024, initially including finance, operations, human capital and technology talent by the end of the year. The Gurugram-based team will support KKR’s growth and enhance the Firm’s business operations, as well as allow for a global operating model that aims to deliver consistent service and coverage to internal and external clients across the world.

KKR’s current office is located in Gurugram’s newly developed DLF Downtown neighborhood, which is recognized for being a new prime location in the city spanning both commercial offices and retail due to its convenience and accessibility. Furthermore, Gurugram has established itself as a hub for international corporations because of its proximity to New Delhi, India’s capital, as well as a major business and economic center, in addition to Gurugram’s modernized infrastructure, and the number of nearby universities and institutions which provide Gurugram with access to a large, talented workforce.

As part of the expansion, the Firm also announced the appointment of Nisha Awasthi who joined KKR as a Managing Director to manage the new office. Ms. Awasthi joins KKR after spending nearly two decades at BlackRock, where she was most recently Head of Financial Markets Advisory at BlackRock India, also based in Gurugram.

“We are thrilled to deepen our presence in and commitment to India and build a team of collaborative professionals who will be committed to KKR’s culture of excellence,” added Gaurav Trehan, KKR’s Head of Asia Pacific Private Equity and Head of India. “We are also pleased to welcome Nisha to the team. She brings to KKR her extensive experience building and managing teams in Gurugram, and her perspectives and leadership will be invaluable as we look to deliver on our strategic priorities and develop talent through our new office.”

The new location, the Firm’s second in India, is a testament to the important role that Asia Pacific plays in KKR’s global strategy. KKR has long had a presence in India, having opened its first location in Mumbai in 2009. KKR is today one of the largest and most active investors in the market.

With the new addition, KKR has offices in 24 cities across four continents, including nine in Asia Pacific: Beijing, Gurugram, Hong Kong, Mumbai, Seoul, Shanghai, Singapore, Sydney, and Tokyo.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Media

KKR Americas:
Miles Radcliffe-Trenner or Julia Kosygina
+1 212 750 8300
media@kkr.com

KKR Asia Pacific:
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com
Or
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

AdFactors (for KKR India):
Jinal Parekh
jinal.parekh@adfactorspr.com
+91 9869657529

Source: KKR

Categories: News

Partners Group to invest in Exus, an international renewables asset management and development firm

Partners Group

Baar-Zug, Switzerland; 4 October 2023

  • Exus manages over 11 GW of renewable energy assets across Europe and North America
  • Partners Group plans to transform Exus into a next-generation platform that builds, owns, and operates renewables assets, whilst still providing asset management services
  • Exus is set to benefit from thematic trends including rising demand for decarbonization from corporates and strong regulatory support for renewables

Partners Group, a leading global private markets firm, acting on behalf of its clients, has agreed to invest in Exus (“the Company”), an international infrastructure asset management and development firm focused on the renewable energy sector, alongside the Company’s founders and management. Partners Group plans to commit up to EUR 1 billion in growth capital.

Exus is a provider of third-party asset management and project development services for owners of utility-scale solar, wind, and battery storage projects in Europe and North America. The Company currently manages over 11 GW of renewable energy assets and has developed 2.4 GW of assets in both geographies to-date. Exus helps investors source acquisition opportunities, manage construction of new projects, optimize technical performance, and reduce risks across renewable energy portfolios.

Following the investment, Partners Group will focus on transforming Exus into a next-generation platform that builds, owns, and operates renewable energy assets across both Europe and North America, while continuing to provide world-class asset management services to third parties. Partners Group will work with management on a value creation plan that will include executing on seed portfolio investment opportunities, growing the Company’s expertise through targeted hires, and expanding its project pipeline through accretive acquisitions and partnerships.

To execute on this vision, Exus will leverage both its proven track record of constructing and commercializing renewable energy assets and existing network to acquire and build utility-scale renewables projects and guide them through to full operational status. Exus is set to benefit from multiple thematic trends including growing regulatory support for renewables, geopolitical uncertainty driving wind and solar deployment, and rising demand from corporates to offset carbon footprints as part of decarbonization goals.

Diogo Reis, Partner, Chief Executive Officer Europe, Exus, comments: “We manage an international renewables portfolio that spans multiple technologies. Our team has the deep commercial and technical capabilities needed to scale a high-quality asset development business, and Partners Group can provide the long-term capital to realize this vision.”

Jim Spencer, Partner, Chief Executive Officer North America, Exus, adds: “With decarbonization a top priority for governments and businesses, we see an opportunity to expand as a builder, owner, and operator of renewables assets. As a global investor with extensive experience in the sector, we believe Partners Group is the right growth partner for us.”

Todd Bright, Partner, Co-Head Private Infrastructure Americas, Partners Group, says: “Exus fits with our next-generation thematic approach to investing in the clean power sector. Through its third-party asset management business, Exus has a strong platform from which to expand. Exus is also uniquely positioned to pursue a capital-efficient model for building assets using its existing business and network. We aim to scale the Company’s origination capacity for new projects to over 1 GW per annum and look forward to working with the management team.”

Partners Group’s Private Infrastructure business has USD 22 billion in assets under management.

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Daash Intelligence Secures $2.75M Seed Funding To Build The Next Generation Of Commerce Intelligence

New Stack Ventures

Daash Intelligence™, the predictive intelligence platform for retail markets, has closed its $2.75M seed investment round. Silicon Road Ventures led the round with New Stack Ventures, with participation from Red Bike Capital, Willow Growth Partners and OpenSky Ventures. First developed within technology and brand incubator 100.co, Daash notches a significant milestone with this funding as it aims to transform the commerce intelligence industry through targeting eCommerce, brick & mortar, and direct-to-consumer (DTC) channels.

Daash addresses the fundamental challenge of transparency across the retail landscape. Brands often struggle to obtain actionable insights into competitive products, sales performance, and market share information. This lack of visibility is a critical issue that affects brands across the board.

To tackle this problem, Daash Intelligence has developed proprietary technology that empowers brands with insights around their market dynamics. Brands using Daash can now identify which competitors are gaining or losing market share and understand the underlying factors driving these trends. Brands are using Daash to inform their new product development, fine-tune marketing strategies, and optimize their channel sales efforts.

 

What differentiates Daash is its proprietary technology, which combines multiple data sources to produce insights in real time. “Harnessing this technology was a game changer for our brands like Cay Skin and Juni Sparkling Tea,” said Kim Perell, CEO of 100.co. “Daash can predict historical sales across competitors and spot emerging market trends with precision.”

 

With this funding, the company will continue to improve the accuracy of its predictive intelligence platform and scale their go-to-market efforts across multiple CPG categories.

Daash firmly believes that commerce intelligence is no longer a luxury, but a mission-critical asset for consumer brand operators. The largest brand conglomerates already rely on commerce insights to guide their product positioning, pricing strategies, market sizing, and inventory management. Daash enables the harnessing of new data sources to make real-time insights possible for every CPG brand.

 

“The response has been amazing with over 20 leading brands already licensing the platform, including Sacheu and Summer Fridays.” said Philip Smolin, CEO and co-founder of Daash. “By identifying emerging market trends and product performance earlier than other brands, they are creating a clear competitive advantage.”

Ross Kimbel, Managing Director & Partner at Silicon Road Ventures (SRV) added, “At SRV we invest in commerce-enabling technologies which are transforming and accelerating the commerce landscape. Daash is revolutionizing the intelligence which powers this industry, and we’re thrilled to be a partner with them on the journey.”

 

For more information about Daash, please visit www.daash.co.

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ABN AMRO and Motive Partners form strategic partnership

Motive Partners

ABN AMRO Bank NV today announced its strategic partnership with Motive Partners, a leading international specialist private equity firm focusing on venture, growth equity and buyout investments in technology-enabled financial and business services.

AMSTERDAM–(BUSINESS WIRE)–The move demonstrates a joint commitment from two sizable financial technology investors to support continued innovation and growth in the evolving fintech landscape. Motive Ventures, the early-stage venture arm of Motive Partners, will manage the ABN AMRO Ventures Fund (AAV), consisting of 15 early-stage companies. In addition, ABN AMRO will become a significant investor in Motive-managed vehicles.

“Banking for better, for generations to come”

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With funding in the financial services industry declining by 70% between 2021 and 2022, and numerous venture capitalists reducing their investment programmes, Motive Partners and ABN AMRO are charting a new course. Their partnership unites two leading venture platforms, each with decades of fintech expertise and a dedication to innovation in both financial services and venture capital. Their goal is to strengthen the fintech sector and boost innovation by bringing Motive Partners’ ecosystem and experts to the AAV portfolio and ABN AMRO’s broader network. Motive Ventures’ portfolio consists of 21 investments in seed and series A stage companies, spanning the United States and Europe. The combined AAV-Motive Ventures portfolio will thus number 36 companies.

The new partnership has been formed on two pillars. First, Motive Ventures will assume the management of AAV with €150 million in assets under management, leveraging Motive Partners’ breadth and depth of expertise. To ensure seamless continuity of AAV’s operations and to strengthen the capabilities at Motive Ventures, Hugo Bongers, Managing Director and Head of ABN AMRO Ventures, and Tim Wanders, Executive Director at ABN AMRO, are joining Motive Ventures as Partner and Principal, respectively.

Second, ABN AMRO will become a significant investor in Motive-managed vehicles. This investment underscores ABN AMRO’s appetite and continued commitment to exploring new frontiers in fintech innovation in partnership with Motive Partners.

Edwin van Bommel, Chief Strategy & Innovation Officer at ABN AMRO commented: “Our collaboration with Motive Ventures is a major milestone for ABN AMRO. We believe that joining forces with a definitive leader in the rapidly evolving fintech landscape will not only drive innovation but also enhance our competitive edge. This partnership will strongly support our strategic ambition of being a personal bank in the digital age for our customers.”

Ramin Niroumand, Partner at Motive Partners and Head of Motive Ventures commented: “ABN AMRO has long been a leader among financial institutions in European fintech investing. With portfolio companies like Tink and Penta, they have already demonstrated great investments and exits, and a deep understanding of how to deliver strategic value to the global ecosystem. We have already worked together on several co-investments, which is why we are so happy that Hugo and Tim are joining the Motive Ventures team.”

The strategic partnership is expected to close in Q4 2023, with Hugo Bongers and Tim Wanders joining the Motive team before the end of the year.

About ABN AMRO

ABN AMRO is a Northwest European bank for retail, corporate and private banking clients, headquartered in Amsterdam. For our clients, we aim to be a personal bank in the digital age. A bank that shapes and enables the transition to a sustainable society, together with our clients and partners. Our efforts are based on our purpose: “Banking for better, for generations to come”. Our focus is on Northwest Europe. With more than 20,000 colleagues, of which approximately 5,000 work outside the Netherlands, we serve more than 5 million clients.

About Motive Partners

Motive Partners is a specialist private equity firm with offices in New York City, London and Berlin, focusing on venture, growth equity and buyout investments in technology-enabled financial and business services companies based in North America and Europe, and serving five primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment Management and Insurance. Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies. For more information, please visit www.motivepartners.com.

About Motive Ventures

Motive Ventures is the early-stage investment arm of Motive Partners, focused on pre-seed through to Series A financial technology investments in North America and Europe. Motive Ventures is backed by globally recognized tech entrepreneurs, industry veterans as well as leading institutions and venture investors. Today the team consists of 13 employees across Berlin, London and New York.

Contacts

ABN Amro Press Office
pressrelations@nl.abnamro.com

Motive Partners
Sam Tidswell-Norrish, Managing Director
sam@motivepartners.com

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Nord Security surpasses $3bn valuation with new $100M funding round

Burdaprincipal

 

Burda Principal Investments proudly continues to back Lithuanian unicorn Nord Security on its exceptional growth path

Burda Principal Investments (BPI) continues to support Nord Security: Just over a year after the first financing round, which made Nord Security the second tech unicorn in Lithuania, the provider of internet privacy and security solutions raises another $100M in new funding. Next to BPI, the existing investor Novator also participates in the round led by Warburg Pincus valuing the company at $3bn.

Changes in the cybersecurity landscape drive the need for online security and privacy

Over the past few years, the cybersecurity landscape has changed dramatically due to the emergence of new technologies. These trends have sparked increased awareness of online security and privacy issues across a wider audience of internet users. In this constantly changing digital environment, VPN service providers NordVPN and Surfshark have become mainstream and remain the flagship products of Nord Security. With the new funding, the company plans to continue to drive organic business growth, expand Nord Security’s product offering, and further accelerate growth through acquisitions.

“The outstanding growth of Nord Security’s business within the last years confirms their market-leading position in the consumer cybersecurity space. We are excited to continue to back the exceptional management team on their growth journey.”

Christian Teichmann, CEO of Burda Principal Investments

“Not a day goes by without news about the next cyber attack succeeding. That is not only because cyber threats are becoming much more frequent, but also due to them consistenlty increasing in sophistication. Nord Security has managed to create a suite of products that fits the ever evolving needs of customers.”
Luisa Frank, Investment Manager at Burda Principal Investments

Cybersecurity tools to create a radically better internet

Nord Security was founded in Vinius, Lithuania in 2012 by co-CEOs Tom Okman and Eimantas Sabaliauskas. Their goal is to develop tools that are easily accessible to everyone and create a radically better internet. In addition to the NordVPN service, the product suite includes password manager NordPass, network access security software NordLayer and encrypted cloud storage NordLocker. In 2022, Nord Security merged with Surfshark, one of the most popular consumer cybersecurity companies globally, adding a series of additional consumer cybersecurity products to  Nord Security’s portfolio. Today, Nord Security’s suite of products is trusted by millions of users worldwide – both businesses and individuals.

“We will continue to address the needs of our users by bringing market-leading innovative features, informative marketing, and a holistic approach towards consumer and businesses cybersecurity needs. The new financing round, together with our investors’ experience and know-how, allow us to be in an even stronger position to make the Nord name synonymous with online privacy and security.”
Tom Okman, co-CEO and co-founder at Nord Security
“Modern cybersecurity requires cutting-edge innovations, and that’s where our talented professionals make Nord Security stand out. Over the years we focused on fostering a community where driven experts are welcomed and enabled to make radically better internet. The Nord community, made up of individuals from all corners of the globe, work together to make sure that our users can be safer online, every day. And we believe there are many who share our cause and our mission.”
Eimantas Sabaliauskas, co-CEO and co-founder at Nord Security

 

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Qred, backed by Nordic Capital, becomes Europe’s newest bank and welcomes Mattias Carlsson as Chair of the Board

Nordic Capital
  • Qred, Sweden’s fastest growing fintech company, activates its banking license and becomes Europe’s newest bank for small businesses
  • In addition, Qred re-appoints Mattias Carlsson as the Chair of the Board

Qred, Sweden’s fastest growing fintech company according to the Financial Times, is thrilled to announce that the banking license the company acquired in May is now activated and the company is officially a bank. In addition to this, Qred is re-appointing Mattias Carlsson, former long-standing CEO of TF Bank, as Chair of the Board.

Qred is now able to offer savings accounts to private consumers with competitive rates, which will allow the company to offer even more competitive terms to its customers. The company will also be able to expand its range of services, offering even more comprehensive financial solutions to its customers. This license acknowledges the company’s dedication to providing accessible and tailored financial products to small businesses.

“Becoming Europe’s newest bank for small businesses is a significant achievement for Qred. It demonstrates our commitment to powering our customer segment with the financial tools they need to succeed. This milestone allows us to enhance our product offerings and provide our customers with an even greater level of financial support. I’m looking forward to showing the small businesses of Europe what a bank should be like,” said Emil Sunvisson, CEO of Qred.

In addition to becoming a bank, Qred is proud to announce that Mattias Carlsson has once again been elected as Chair of the Board. Carlsson was the Chair at Qred between 2018 and 2021, and has over fifteen years of experience in the fintech and banking sectors, having been the CEO of TF Bank as well as the Chair at both Hoist Finance and BB Bank ASA.

Sunvisson added: “We’re thrilled to see Mattias Carlsson back on our board. His extensive experience and deep industry knowledge is invaluable in guiding our strategic direction and ensuring we remain at the forefront of innovation in the financial sector. I also want to thank Per Widerström for his hard work and dedication during his time on the board.”

“I am honoured by the trust placed in me through this re-election to Qred’s Board. I’m excited to continue contributing to Qred’s mission of powering businesses with innovative financial solutions. Together, we’ll navigate the path ahead, driving growth and ultimately becoming the leading small business bank in Europe,” said Mattias Carlsson.

Mattias Carlsson’s appointment is effective as of October 2nd, 2023 and he assumes the role after Per Widerström, who resigned due to a new CEO role.

For more information, please contact:
Andrea Romander
Head of Brand & Communications, Qred
andrea.romander@qred.com

About Qred
Founded in 2015 by entrepreneurs for entrepreneurs, Qred is Sweden’s fastest growing fintech company according to the Financial Times. Qred is the market leader in the Nordic region and has Sweden’s most satisfied customers according to Trustpilot. With operations in Sweden, Finland, Denmark, the Netherlands, Brazil, Belgium and Norway, Qred has helped more than 25,000 companies. Qred’s fully automated, proprietary credit scoring system allows it to quickly and competitively provide business owners with the power they need to grow.

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