AI Enables Hella to Expand Lean Results

Bgv

Tier-one automotive supplier shortens cycle time, and improves standardized work adherence on assembly line it previously considered optimized.

 

Drishti Technologies Inc., whose AI-powered production technology uses video analytics, data and insights to bring significant benefits to manufacturers and their employees recently concluded a 10-week proof of concept deployment with global automotive supplier HELLA.

Prasad Akella, Drishti founder and CEO, tells IndustryWeek, with the success of the pilot, the group is moving forward with a broader integration. “The first and most direct integration is with the MES, as it immediately opens up the ability to conduct fast root cause analyses using the serial numbers of parts in question,” Akella says. Understandably, COVID-19 has presented unexpected challenges, explains Akella. For example, with frozen travel, Drishti was unable to conduct plant visits. “Therefore, we have developed a remote deployment option for customers that allows them to have the full benefit of Drishti without requiring us to travel and instead leveraging the deep in-house skills of the HELLA plant facilities team,” he says.

“Standardized work is the foundation of our assembly operations, and finding opportunities to improve adherence has the potential to significantly boost our productivity,” said Marcos Aurelio Alves Junior, operational excellence and industrial engineering manager at HELLA Mexico in a statement.

Alves and his team used the AI-generated data points in Drishti’s Portal to pinpoint statistical outliers, cycles that took significantly more or less time than the others. Because of the sheer volume of cycle time data Drishti provides, these outliers were clear indicators that attention was required.

Down to details

HELLA deployed 12 Drishti cameras on an automotive component assembly line in Guanajuato, Mexico. Because HELLA has established a lean philosophy throughout the organization since 2007, the selected assembly line was already a high-performing line in the company. HELLA was intrigued by Drishti’s AI-powered production solution and challenged the company to find opportunities for improvement, even though the line was already considered optimized based on state-of-the-art, non-AI lean methodologies.

Using Drishti Trace, which allows manufacturers to use live and recorded video to learn from what has happened, and Drishti Flow, which adds AI to provide assembly data that lets manufacturers closely monitor and rapidly improve performance, the HELLA team and Drishti jointly identified a number of potential improvements. In some instances, HELLA engineers were able to verify adherence to standardized work and implement improvements to the standardized work to reduce process delays and microstops.

“Drishti Trace lets anyone with access to the Portal go back in time and see exactly what happened on the factory floor,” said Alves. “It solves a number of questions about what happened in the past, making the process to identify deviations shorter and us more assertive in attacking the correct outliers in our histograms. And it’s particularly useful during the coronavirus because it doesn’t require our team to travel to the site to know what’s happening.”

At the conclusion of the 10-week deployment, HELLA saw a significant improvement in productivity on the assembly line. A broader Drishti deployment is currently in the works.

“Drishti’s technology uniquely provides us with information about what’s happening on the factory floor, now and in the past, wherever we are,” said Michael Hammoud, vice president of operations, HELLA said in a statement. “It helps us support our lean practices with data, and use the information we get from the cameras and AI to train our operators, improving their productivity and job satisfaction at the same time. It’s a win-win for the company and our employees.”

Constant improvement

The HELLA team believed the line was already optimized, so the team wasn’t confident that Drishti would uncover more opportunities, says Akella. “However, it soon became clear that several process steps on the line were inconsistent with standardized work, and those deviations were going undetected,” he says. “Despite the previously held belief that the line was optimized, Drishti shed light on further opportunities. Changing behavior on the line is not always easy, but Drishti’s video-backed proof points make it easier to get line associates on board.”

According to Akella, the success of this deployment demonstrates that there is almost always room for improvement. And, the best results come when companies remain open minded and ready to scale.

Open minded. Your industrial engineers have optimized your lines as best they can with yesterday’s technology. Newer technologies like Drishti can shed light on issues that weren’t previously obvious. It’s analogous to imaging your lungs using a stethoscope, an ultrasound scannerA and an MRI machine. The increasing capabilities of the devices give greater insights that lead to better diagnostics. The more open-minded the team is, the more use cases that are constructed and the greater the value from new technologies. Mindset is critical.

Ready to scale.  When you decide to make the investment to test new technologies, assume success and be ready to get your CFO’s approval for the broader roll out. Otherwise, you’ve invested significant resources and have no path to scale the benefits across the organization.

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Upfront Healthcare Raises $11.5 Million in Series B Funding Round Led by Baird Capital and Co-Led by LRVHealth

Baird Capital

Investment, platform expansion and new client growth highlight the demand for a cohesive and personalized patient experience.

CHICAGO—(November 17, 2020)—Upfront Healthcare, a leading omnichannel communication and patient engagement platform, raised $11.5 million in a Series B funding round, led by new investor Baird Capital and co-led by existing investor LRVHealth, along with participation from series A investors Echo Health Ventures, Nashville Capital Network, Hyde Park Ventures and Martin Ventures. Upfront has received $21.5 million in financing to date.

Founded in 2016, Upfront has built a foundational platform designed to grow with health system clients and their ever-changing needs. Upfront provides extensible patient solutions that continuously guide and motivate all patients to complete necessary care at the most appropriate site or with the most applicable service. Upfront engages patients across multiple channels, presenting personalized, curated content and culturally relevant information. Under the hood, Upfront is powered by a library of data connectors, integrated machine learning capabilities, and an enterprise orchestration engine.

“We are extremely excited to partner with Upfront’s talented team to help drive the company’s continued growth and impact on care delivery and patient outcomes for its clients,” said Jim Pavlik, Partner with Baird Capital. “The combination of Upfront’s deep industry expertise and robust platform capabilities is critical and timely as health systems increasingly adopt digital solutions to better navigate the complex and rapidly changing care ecosystem for their patients.”

Patient confusion, frustration and distrust peaked over the last twelve months with the expansion of health system sites of care and services and the COVID-19 pandemic. As a result, the demand for Care Traffic Control solutions that can transform a fragmented collection of services into a coherent, well-designed ecosystem drove rapid growth, doubling Upfront’s revenue year over year. In addition, health systems accelerated their digital health strategies to engage patients and regain trust, increasing the adoption of Upfront at existing clients more than 10x. The additional funds will support the implementation of these evolving health system and patient needs, accelerate the product roadmap and expand sales and marketing.

Co-Founders Ben Albert and Carrie Kozlowski drew on their decades of healthcare technology experience, entrepreneurial drive and Kozlowski’s extensive clinical and care management background to start Upfront. They continue to rely on those strengths to scale the company and deliver proven strategic and operational guidance to their growing list of health system clients.

“We set out more than four years ago to help patients navigate the complexities of the healthcare system by delivering a cohesive and frictionless experience, and we have made great progress toward that goal,” said Albert, Upfront’s CEO. “We are excited to partner with leading investor Baird Capital and eager to work together to continue to invest in our platform to make a larger impact for patients and providers.”

###

About Upfront

Upfront’s Care Traffic Control platform proactively reassures and directs patients to the safest and most relevant care options within the health system. Using advanced analytics, personalized content and strategic calls-to-action, Upfront aligns patient care needs with health system resources through a 1:1 digital experience based on deep healthcare operations and patient engagement experience. With Upfront, more patients will book and complete necessary care, use the most appropriate site of care, enroll in care coordination services, successfully navigate a care journey or transition, and understand how to stay safe in unusual conditions. To learn more, visit UpfrontHealthcare.com.

About Baird Capital

Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Having invested in more than 310 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in the United States, Europe and Asia, a proactive portfolio operations team and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit www.BairdCapital.com.

 

Upfront Media Contact:
Kylie Barrie
(847) 989-8050
kbarrie@upfronthealthcare.com

Baird Capital Media Contact
Rachel Kern
(414) 298-5101
RKern@rwbaird.com

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Axon reinforces its leadership in the Life Sciences sector with 2 new investments: Forbion & Sofinnova Partners

Axon

Aurora, the VC Fund of Fund platform managed by Axon, strengthens its position in this sector in Europe with two new commitments in additional top global Life Sciences funds. 

Aurora has already committed to five Life Sciences funds, with current exposure in the portfolio over 45%. The new investments are a strong fit for the overall fund strategy as they are with top-performing GPs, with consolidated teams, and a consistent strategy.

Forbion is a leading venture capital firm, working closely with entrepreneurs to build Life Sciences companies, applying their technologies and products to transform people’s lives. The GP currently manages over €1 bn across ten closed-end funds. Forbion has a team of thirteen investment professionals across two offices in The Netherlands and Germany, with a multitude of academic accomplishments and a large array of operational experience. This fund will focus on investing in late-stage Life Sciences companies, which look to pass into the final phases of medical trials and/or to list in the U.S. (NASDAQ). It will also encompass investments in companies already listed in the European market but that are looking to relist in the U.S. through PIPEs.

Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, with offices in London and Milan, the firm brings together a team of over 40 professionals from all over Europe, the U.S., and Asia. The fund will focus on Growth (Crossover) stage investments in Life Sciences companies, through late-stage equity financing rounds and PIPEs. The fund is managed by a highly-experienced and multi-disciplined team combining years of experience in growth venture and trading/equity analysis.

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Troy Medicare announces $10M Series B led by AXA Venture Partners

AXA

Funding accelerates the growth of Troy Medicare and its unique technology-enabled Medicare
Advantage plan designed to empower independent pharmacies and providers to care for
underserved communities in the US

November 17, 2020

Charlotte, NC. Troy Medicare, the pharmacy-powered, technology-driven Medicare Advantage
company, today announced it has raised a $10 million Series B round of funding led by AXA Venture
Partners, the global technology-focused venture capital firm. Sunwater Capital also participated in
the round.

With the support of investors, Troy will continue to expand its Medicare Advantage plan that provides
high-quality care and a superior patient experience to underserved communities via partnerships
with local, independent pharmacies and significant investment in technology.
“As the only Medicare Advantage company with deep relationships with independent pharmacies
and providers, we’re excited to bring AXA Venture Partners, with its understanding of healthcare
and technology, to the table as our first institutional investor,” said Flaviu Simihaian, CEO and Co-
Founder of Troy. “With this funding, we can continue to build out our model for a personal, hyperlocal
Medicare Advantage experience. Our partner pharmacists have a meaningful relationship with
their patients, and our plan leverages those touchpoints to improve the health of our members.”
“The Troy team is transforming care for Medicare Advantage beneficiaries, starting with North
Carolina,” said Manish Agarwal, General Partner at AXA Venture Partners. “Troy’s approach brings
a personalized, technology-enabled, local feel to care management and delivery for populations that
have been underserved by existing options in Medicare Advantage. We believe this model will
improve health outcomes and lower costs for these populations, and we’re excited to be a part of
the team.”

Troy Medicare launched in October 2018 with an innovative approach to Medicare Advantage that
leverages the local, independent pharmacy and technology to improve patient experience. With
100% transparent drug pricing, $0 generics at independent pharmacies, and no hidden fees for
pharmacies or providers, Troy offers a better Medicare Advantage plan for members and providers
alike. In 2021, Troy will expand its offering to dual-eligible Medicare beneficiaries and continue to
grow its team and expand its geographic footprint.

About Troy Medicare
Troy Medicare is a Medicare Advantage company based in Charlotte, North Carolina with a mission
to improve healthcare in each local community it serves. By empowering local providers and
pharmacies with world-class technology, Troy ensures that each member receives the best, tailored,
hyper-local care.

For more information on Troy Medicare, please visit http://www.troymedicare.com.

Contacts
Joey Shandley
press@troymedicare.com
704-275-8900 Ext. 111

About AXA Venture Partners (AVP)
AXA Venture Partners (AVP) is a global venture capital firm investing in high-growth, technologyenabled
companies. AVP has built, in less than five years, a unique investment platform specialized
in tech investments with $800 million of assets under management through three pillars of
investment expertise: early stage, growth stage, and fund of funds. To date, AVP has invested in
more than 45 companies and more than 20 funds. The AVP team operates globally with offices in
San Francisco, New York, London, Paris, and Hong Kong. Beyond investments, AVP provides
unique access to business development opportunities helping portfolio companies to scale globally
and accelerate their growth. More details here: www.axavp.com

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EQT acquires majority stake in thinkproject

TA associates

THE WORLD’S LARGEST INDUSTRIAL SECTOR IS UNDERGOING DIGITAL TRANSFORMATION:

  • EQT acquires shares from the previous investor TA Associates and the founder of thinkproject, Thomas Bachmaier
  • All previous shareholders and the management team of thinkproject commit to significant reinvestment in the company
  • thinkproject will further accelerate the expansion of its market leadership in the digitalization of the AECO industry

Munich, 16 November 2020 – thinkproject, Europe’s leading SaaS provider for construction and engineering projects, today announced a new stakeholder, global investor EQT. EQT will acquire a majority stake from the previous investor TA Associates as well as from Thomas Bachmaier, founder of thinkproject. All previous shareholders and the management team of thinkproject will make a significant reinvestment in thinkproject to further accelerate the growth of the European market leader in construction intelligence solutions. thinkproject has more than 450 employees in 18 offices across 11 countries. thinkproject supports around 2,750 private and public asset owners, project developers and general contractors with users in more than 60 countries to digitally map the entire life cycle of construction projects. Reference projects that were or are being realized with the help of thinkproject’s Construction Intelligence Platform include BMW World in Munich, the Fehmarn Belt Tunnel between Germany and Denmark, Elbe Philharmonic Hall in Hamburg, Hong Kong International Airport, and more. The transaction is expected to be closing by the end of the year, subject to regulatory approvals.

World’s largest industry far behind in digitization
With 13 percent of global GDP, the construction industry is the largest industrial sector in the world. In terms of the degree of digitalization and an annual productivity growth rate of only 1 percent, the industry is lagging. Global initiatives to completely digitize the entire life cycle of construction projects, from designing and building to operating, will lead to fundamental disruption in the construction industry. thinkproject already offers the AECO (Architecture, Engineering, Construction and Owner-operated) industry SaaS (Software as a Service) solutions to avoid time and cost overruns, thus minimizing these considerable risks in the industry.

Florian Funk, Partner at EQT Partners and Investment Advisor for EQT, said: “thinkproject has delivered an impressive growth story through organic growth and strategic acquisitions in a highly fragmented market. The digitalization of the construction industry offers enormous growth opportunities, we are only at the beginning of a disruptive change. EQT will use its entire platform, including its digital and sustainability expertise, its local presence, its domain expertise and its network to further accelerate thinkproject’s expansion. We look forward to working with TA Associates and thinkproject’s management team to create a global champion who will lead the way and pioneer the digitization of the world’s largest industry.”

Morgan Seigler, Managing Director at TA Associates, said: “Since our investment four years ago, the thinkproject management team has demonstrated an exceptional commitment to the company’s strategic growth initiatives and customers. We believe that these efforts have helped thinkproject transform into Europe’s leading SaaS provider of construction intelligence solutions for the AECO industry. We are thrilled to welcome EQT as our new partner, and we look forward to working with them alongside thinkproject’s management team during the company’s next phase of growth.”

Gareth Burton, CEO of thinkproject, added: “We are excited to continue the next phase of our journey with our new majority shareholder EQT and with the continued support and commitment from TA Associates. Both have deep enterprise software experience, which make them ideal partners to further accelerate our growth. The digitalization of the construction industry is one of the most exciting projects in the global economy. thinkproject is a leader in AECO software, a fast-growing market where we continue to win market share. This is where we believe that we can help our customers create the most value, by enabling them to capitalise on the promise of digital transformation in our industry, gaining insights and knowledge from their data across the entire design, build and operate lifecycle. thinkproject’s proposition in the market is compelling and differentiated, which, when combined with the market opportunity, provides all the right ingredients for continued growth”.

Arma Partners acted as exclusive financial advisor to thinkproject.

_____________________________________________________________________________________________________

About thinkproject

Based in Munich, Germany, thinkproject is a global leader in construction intelligence, unlocking the potential of people and information through digital technologies to enable better industry results. It is the leading Europe-based construction and engineering SaaS provider with 2,750 customers, more than 250,000 users in over 60 countries, and over 450 employees.

More info: www.thinkproject.com

About EQT
EQT is a purpose-driven global investment organization with more than EUR 75 billion in raised capital and over EUR 46 billion in assets under management across 16 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong.

Press contact: Fabian Pecht / Samet Simsek, Havana Orange GmbH, thinkproject@havanaorange.de, +49 (89) 92 131 51 – 78/70

Segulah partners with Multisoft

Segula

16 November, 2020

Segulah Fund V has entered into an agreement to partner with Multisoft AB’s founders Emil Gyllenring and Ivar Algvere to develop and support the company in its next growth phase. Segulah will acquire a majority shareholding while the founders will retain a significant shareholding and remain in their respective operational roles. Senior employees will also be invited to the partnership as shareholders.

Multisoft, based in Stockholm with c. 80 employees, is a provider of business process systems for its clients, leveraging its proprietary low code platform Softadmin®. The company develops bespoke and standalone solutions, which can be seamlessly integrated with other systems as needed. Since its inception, Multisoft has delivered more than 400 projects to a broad range of customers, including Volvo, Länsförsäkringar and Vattenfall. The company has grown revenues by 15% CAGR in the last four years on the back of strong demand for its services.

Low code platforms employ module-based logic and drag-and-drop components to allow faster development of process solutions compared to traditional coding. The low code niche is outgrowing the broader market as increasing business complexity drives demand for bespoke systems that can be further developed over time as companies evolve.

“We look forward to partnering with Segulah and to leverage their extensive experience to reach our vision of becoming a leading provider of bespoke and pre-configured process automation solutions for complex business problems, with the market’s most satisfied customers and employees” says Emil Gyllenring, CEO and co-founder of Multisoft.

“Multisoft has taken a strong position within an attractive market with structural underlying growth driven by digitalisation and automation. The investment fits well into Segulah’s strategy and we look forward to working together with the founders to realise Multisoft’s full potential” say Percy Calissendorff and Johan Möllerström, Partner and Director, respectively, at Segulah Advisor AB.

 The transaction is expected to close in January 2021 contingent on terms outlined in the purchase agreement. The acquisition will be the eleventh investment for Segulah Fund V.

For further information, please visit www.multisoft.se, www.segulah.com or contact:

Emil Gyllenring, CEO, Multisoft AB, +46 70 775 08 14, emil.gyllenring@multisoft.se

Percy Calissendorff, Partner, Segulah Advisor AB, +46 73 347 62 81, calissendorff@segulah.se

Johan Möllerström, Director, Segulah Advisor AB, +46 72 543 79 11, mollerstrom@segulah.se

 

Note: Emil Gyllenring and Ivar Algvere will own their shares through their respective wholly owned companies.

Categories: News

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EQT acquires majority stake in thinkproject

TA associates

THE WORLD’S LARGEST INDUSTRIAL SECTOR IS UNDERGOING DIGITAL TRANSFORMATION:

  • EQT acquires shares from the previous investor TA Associates and the founder of thinkproject, Thomas Bachmaier
  • All previous shareholders and the management team of thinkproject commit to significant reinvestment in the company
  • thinkproject will further accelerate the expansion of its market leadership in the digitalization of the AECO industry

Munich, 16 November 2020 – thinkproject, Europe’s leading SaaS provider for construction and engineering projects, today announced a new stakeholder, global investor EQT. EQT will acquire a majority stake from the previous investor TA Associates as well as from Thomas Bachmaier, founder of thinkproject. All previous shareholders and the management team of thinkproject will make a significant reinvestment in thinkproject to further accelerate the growth of the European market leader in construction intelligence solutions. thinkproject has more than 450 employees in 18 offices across 11 countries. thinkproject supports around 2,750 private and public asset owners, project developers and general contractors with users in more than 60 countries to digitally map the entire life cycle of construction projects. Reference projects that were or are being realized with the help of thinkproject’s Construction Intelligence Platform include BMW World in Munich, the Fehmarn Belt Tunnel between Germany and Denmark, Elbe Philharmonic Hall in Hamburg, Hong Kong International Airport, and more. The transaction is expected to be closing by the end of the year, subject to regulatory approvals.

World’s largest industry far behind in digitization
With 13 percent of global GDP, the construction industry is the largest industrial sector in the world. In terms of the degree of digitalization and an annual productivity growth rate of only 1 percent, the industry is lagging. Global initiatives to completely digitize the entire life cycle of construction projects, from designing and building to operating, will lead to fundamental disruption in the construction industry. thinkproject already offers the AECO (Architecture, Engineering, Construction and Owner-operated) industry SaaS (Software as a Service) solutions to avoid time and cost overruns, thus minimizing these considerable risks in the industry.

Florian Funk, Partner at EQT Partners and Investment Advisor for EQT, said: “thinkproject has delivered an impressive growth story through organic growth and strategic acquisitions in a highly fragmented market. The digitalization of the construction industry offers enormous growth opportunities, we are only at the beginning of a disruptive change. EQT will use its entire platform, including its digital and sustainability expertise, its local presence, its domain expertise and its network to further accelerate thinkproject’s expansion. We look forward to working with TA Associates and thinkproject’s management team to create a global champion who will lead the way and pioneer the digitization of the world’s largest industry.”

Morgan Seigler, Managing Director at TA Associates, said: “Since our investment four years ago, the thinkproject management team has demonstrated an exceptional commitment to the company’s strategic growth initiatives and customers. We believe that these efforts have helped thinkproject transform into Europe’s leading SaaS provider of construction intelligence solutions for the AECO industry. We are thrilled to welcome EQT as our new partner, and we look forward to working with them alongside thinkproject’s management team during the company’s next phase of growth.”

Gareth Burton, CEO of thinkproject, added: “We are excited to continue the next phase of our journey with our new majority shareholder EQT and with the continued support and commitment from TA Associates. Both have deep enterprise software experience, which make them ideal partners to further accelerate our growth. The digitalization of the construction industry is one of the most exciting projects in the global economy. thinkproject is a leader in AECO software, a fast-growing market where we continue to win market share. This is where we believe that we can help our customers create the most value, by enabling them to capitalise on the promise of digital transformation in our industry, gaining insights and knowledge from their data across the entire design, build and operate lifecycle. thinkproject’s proposition in the market is compelling and differentiated, which, when combined with the market opportunity, provides all the right ingredients for continued growth”.

Arma Partners acted as exclusive financial advisor to thinkproject.

_____________________________________________________________________________________________________

About thinkproject

Based in Munich, Germany, thinkproject is a global leader in construction intelligence, unlocking the potential of people and information through digital technologies to enable better industry results. It is the leading Europe-based construction and engineering SaaS provider with 2,750 customers, more than 250,000 users in over 60 countries, and over 450 employees.

More info: www.thinkproject.com

About EQT
EQT is a purpose-driven global investment organization with more than EUR 75 billion in raised capital and over EUR 46 billion in assets under management across 16 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong.

Press contact: Fabian Pecht / Samet Simsek, Havana Orange GmbH, thinkproject@havanaorange.de, +49 (89) 92 131 51 – 78/70

Categories: News

Tags:

EQT acquires majority stake in thinkproject

TA associates

THE WORLD’S LARGEST INDUSTRIAL SECTOR IS UNDERGOING DIGITAL TRANSFORMATION:

  • EQT acquires shares from the previous investor TA Associates and the founder of thinkproject, Thomas Bachmaier
  • All previous shareholders and the management team of thinkproject commit to significant reinvestment in the company
  • thinkproject will further accelerate the expansion of its market leadership in the digitalization of the AECO industry

Munich, 16 November 2020 – thinkproject, Europe’s leading SaaS provider for construction and engineering projects, today announced a new stakeholder, global investor EQT. EQT will acquire a majority stake from the previous investor TA Associates as well as from Thomas Bachmaier, founder of thinkproject. All previous shareholders and the management team of thinkproject will make a significant reinvestment in thinkproject to further accelerate the growth of the European market leader in construction intelligence solutions. thinkproject has more than 450 employees in 18 offices across 11 countries. thinkproject supports around 2,750 private and public asset owners, project developers and general contractors with users in more than 60 countries to digitally map the entire life cycle of construction projects. Reference projects that were or are being realized with the help of thinkproject’s Construction Intelligence Platform include BMW World in Munich, the Fehmarn Belt Tunnel between Germany and Denmark, Elbe Philharmonic Hall in Hamburg, Hong Kong International Airport, and more. The transaction is expected to be closing by the end of the year, subject to regulatory approvals.

World’s largest industry far behind in digitization
With 13 percent of global GDP, the construction industry is the largest industrial sector in the world. In terms of the degree of digitalization and an annual productivity growth rate of only 1 percent, the industry is lagging. Global initiatives to completely digitize the entire life cycle of construction projects, from designing and building to operating, will lead to fundamental disruption in the construction industry. thinkproject already offers the AECO (Architecture, Engineering, Construction and Owner-operated) industry SaaS (Software as a Service) solutions to avoid time and cost overruns, thus minimizing these considerable risks in the industry.

Florian Funk, Partner at EQT Partners and Investment Advisor for EQT, said: “thinkproject has delivered an impressive growth story through organic growth and strategic acquisitions in a highly fragmented market. The digitalization of the construction industry offers enormous growth opportunities, we are only at the beginning of a disruptive change. EQT will use its entire platform, including its digital and sustainability expertise, its local presence, its domain expertise and its network to further accelerate thinkproject’s expansion. We look forward to working with TA Associates and thinkproject’s management team to create a global champion who will lead the way and pioneer the digitization of the world’s largest industry.”

Morgan Seigler, Managing Director at TA Associates, said: “Since our investment four years ago, the thinkproject management team has demonstrated an exceptional commitment to the company’s strategic growth initiatives and customers. We believe that these efforts have helped thinkproject transform into Europe’s leading SaaS provider of construction intelligence solutions for the AECO industry. We are thrilled to welcome EQT as our new partner, and we look forward to working with them alongside thinkproject’s management team during the company’s next phase of growth.”

Gareth Burton, CEO of thinkproject, added: “We are excited to continue the next phase of our journey with our new majority shareholder EQT and with the continued support and commitment from TA Associates. Both have deep enterprise software experience, which make them ideal partners to further accelerate our growth. The digitalization of the construction industry is one of the most exciting projects in the global economy. thinkproject is a leader in AECO software, a fast-growing market where we continue to win market share. This is where we believe that we can help our customers create the most value, by enabling them to capitalise on the promise of digital transformation in our industry, gaining insights and knowledge from their data across the entire design, build and operate lifecycle. thinkproject’s proposition in the market is compelling and differentiated, which, when combined with the market opportunity, provides all the right ingredients for continued growth”.

Arma Partners acted as exclusive financial advisor to thinkproject.

_____________________________________________________________________________________________________

About thinkproject

Based in Munich, Germany, thinkproject is a global leader in construction intelligence, unlocking the potential of people and information through digital technologies to enable better industry results. It is the leading Europe-based construction and engineering SaaS provider with 2,750 customers, more than 250,000 users in over 60 countries, and over 450 employees.

More info: www.thinkproject.com

About EQT
EQT is a purpose-driven global investment organization with more than EUR 75 billion in raised capital and over EUR 46 billion in assets under management across 16 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong.

Press contact: Fabian Pecht / Samet Simsek, Havana Orange GmbH, thinkproject@havanaorange.de, +49 (89) 92 131 51 – 78/70

AE Industrial Partners Completes Sale-Leaseback Transaction with Allegiant Air

Ae Industrial Partners

AE Industrial Partners Completes Sale-Leaseback Transaction with Allegiant Air

Boca Raton, FL – November 16, 2020 – AE Industrial Partners, LP (“AEI”), a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets, announced today the completion of a sale and leaseback transaction with Allegiant Air (“Allegiant”) involving four Airbus A319 aircraft. The transaction is the firm’s first aircraft leasing transaction made from its AE Industrial Partners Aerospace Opportunities Fund, an aircraft and engine leasing investment platform launched early this year. Terms of the transaction were not disclosed.

“We are excited to embark on this partnership with Allegiant and to complete the first aircraft leasing transaction for our AE Industrial Partners Aerospace Opportunities Fund,” said Mark Satran, Senior Managing Director at AEI. “We believe that Allegiant, with its low-cost, domestic leisure business model, is well-positioned for a strong return in 2021, as travelers look to reunite with family and friends. The workhorse nature of the A320 family aircraft is a great fit for our investors, and we’re impressed by what Allegiant’s management has rapidly accomplished during these turbulent times for the aviation industry.”

“The investment from AEI will provide Allegiant with greater flexibility as we address an unprecedented time in the industry. We were happy with the results of this transaction and look forward to an ongoing collaboration,” said Robert Neal, Treasurer and Vice President of Fleet & Corporate Finance at Allegiant.

About Allegiant Travel Company
Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with premier leisure experiences – from vacations to hometown family entertainment. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant’s all-Airbus fleet serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at gofly.us/iiFa303wrtF.

About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from our deep industry knowledge, operating experience, and relationships throughout our target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment. Learn more at www.aeroequity.com.

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CONTACT:
Lambert & Co.
Jennifer Hurson
(845) 507-0571
jhurson@lambert.com

or

Caroline Luz
(203) 656-2829
cluz@lambert.com

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3D NV (“3d investors”) announces today that it considers launching a voluntary and conditional public takeover bid for all shares in Zenitel NV

3D Investors

3D NV (“3d investors”) announces today that it considers launching a voluntary and conditional public takeover bid for all shares in Zenitel NV (“Zenitel”) that are not currently held by it, through a subsidiary House of Thor BV. The bid would be made at a price of EUR 22.75 per share and would be paid in cash.

3d investors currently holds 1,584,776 shares in Zenitel, or 47.87% of the total number of shares issued. Therefore, the bid would relate to the remaining 1,726,108 shares or 52.13% of the total number of shares issued.

The bid would be made subject to a number of conditions, including an acceptance threshold of 95% and a material adverse change clause. If successful, the bid would be followed by a simplified squeeze-out bid under the same conditions.

The price of EUR 22.75 per share would hold a premium of 37.9% to the closing stock price as at 13 November 2020, or a premium of 47.8% to the closing stock price as at 13 November 2020 if the premium is calculated on the implied enterprise value, excluding the net cash position as at 30 June 2020. The price would imply a premium of 39.7%, 38.1%, 41.3% and 47.8% on the volume weighted average share stock prices over the past 1, 3, 6 and 12 months, respectively.

Through the bid, 3d investors would offer shareholders the opportunity to immediately sell their shares on terms that 3d investors considers very attractive. Such conditions would be difficult to obtain under other circumstances, given the limited liquidity of the Zenitel share.

3d investors has informed the board of directors of Zenitel about its intentions. Subject to the review by the board of directors of the prospectus, the directors of Zenitel who are not affiliated with 3d investors have unanimously decided to support and recommend the bid. The board of directors have thereafter adopted the same decision with unanimity. A detailed opinion of the board of directors will be set forth in the memory in reply, which will also be attached as an annex to the prospectus.

The bid is supported by reference shareholder De Wilg CommV (12.08%), which has irrevocably committed to tender its shares to the bid.

This notice is merely an expression of an intention and does not constitute formal notification of a voluntary public takeover bid within the meaning of the Royal Decree of 27 April 2007 and the Law of 1 April 2007 on Public Takeover Bids. Whether, when and under which conditions the bid would be made depends on a number of factors, including general market conditions and the further evolution of the financial markets and the assessment of the bid price by an independent expert appointed by the independent directors who will issue a valuation report within the meaning of Article 23 of the Royal Decree of April 27 2007 on Public Takeover Bids.

If 3d investors decides to formally launch the voluntary and conditional public takeover bid, it will submit a file for this purpose with the FSMA (including a draft prospectus). The board of directors of Zenitel will then review that draft prospectus and further explain its position in a memorandum of reply. If 3d investors decides not to proceed with the bid, it will promptly report about this in accordance with the applicable rules.

About 3d investors

3d investors is a family investment company that chooses to support the growth of solid companies, in partnership with entrepreneurs and management. They always start from the core values: entrepreneurship, empathy, integrity, passion and agility.

3d investors is a long-term shareholder in a number of listed groups (KBC, Ackermans & van Haaren, Atenor, Barco and Zenitel), non-listed companies (including Care Cosmetics, Pauwels Consulting, Plastiflex, Studio 100 and 3P) and 3d Real Estate.

More information can be found at www.3d-investors.be

Contact: Frank Donck +32 9 329 72 01

About Zenitel

Zenitel is a global player in the development and commercialisation of intelligent communication solutions where security, guaranteed availability and sound quality are essential. With nearly 120 years of experience, Zenitel has proven to be a reliable and quality provider of broadcast systems, intercom solutions and two-way radio. These systems interface with other security devices, enabling end users and integrators to build a comprehensive and integrated security solution that combines access control, video surveillance, digital messaging and other solutions. Today, Zenitel’s customers include security service providers, companies and organisations active in the transportation and shipping sectors, healthcare institutions and industrial companies.

Zenitel employs approximately 300 people worldwide, is headquartered in Norway and sells its solutions under the Vingtor-Stentofon and Phontech brands.

More information can be found at www.zenitel.com

Disclaimer

This notice is also published in Dutch. If this should create uncertainty, the Dutch version will prevail.

This notice does not constitute a bid to purchase securities of Zenitel nor a solicitation by anyone in any jurisdiction in respect thereof. If a bid to purchase securities of Zenitel through a public takeover bid is proceeded with, such bid will and can only be made on the basis of a prospectus approved by the FSMA. No action has been taken to enable a public takeover bid in any jurisdiction and no such actions will be taken before 3d investors resolves to pursue a public takeover bid. Neither this notice nor any other information in respect of the matters contained herein may be supplied in any jurisdiction where a registration, qualification or any other obligation is in force or would be with regard to the content hereof or thereof. Any failure to comply with these restrictions may constitute a violation of the financial laws and regulations in such jurisdictions. 3d investors and its affiliates explicitly decline any liability for breach of these restrictions by any person.

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