With this acquisition, EQT X (target fund size of EUR 20.0 billion and hard cap of EUR 21.5 billion) is expected to be 20-25 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on its target fund size, subject to customary regulatory approvals.
The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT X will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.
Activant is excited to announce that we have led Vartana’s $20M Series B, with participation from existing investors Mayfield Fund and Audacious Ventures. We’re proud to partner with co-founders Kush & Ahmed and the entire Vartana team on their mission to streamline the sales closing process.
This partnership has been three years in the making. We began researching B2B commerce and checkout years ago, publishing our perspectives in TechCrunch in 2021 and three research reports on the topic last year. We were subsequently introduced to Kush and Ahmed through those reports, and when we saw what they were building at Vartana, we realized it was special.
The Delicate Dance of Sales
Pretend for a moment you’re an enterprise sales rep. It’s the last week of the quarter, and you’re just $50k away from meeting your quota. Your last prospect is nearing the dotted line, but before you know it, the close date gets pushed out by two weeks. Why? Your potential customer needs to finance their purchase (it’s a $200K ACV, 3-year deal), but they’re stuck in a back-and-forth PDF battle between your financing team, a lender, and the sales deal desk – there’s barely an end in sight.
But wait. In a world where software is eating the world – where you can sign up and buy anything with just a few clicks – why are sales teams still so critical? If product is good enough, why doesn’t it just sell itself?
Take a look at Slack – one the darlings of the B2B “bottoms-up SaaS” movement of the 2010’s. The experience was consumer-grade, the signup was easy and self-serve, and the product spread virally through organizations. In 2015, Co-founder & CEO Stuart Butterfield said, “I believe we can have no commissions forever…we can have no outbound sales forever.”
Today, sales makes up nearly a quarter of Slack’s team – 900 people. Why? Because as technology companies move upmarket, their customers need to work with sales teams to build alignment across the organization, no matter how great the product is. Separate studies by Salesforce and Gartner found that approximately 75% of B2B buyers expect to interact with a salesperson during their buying journey.
Larger customers are more complex – with existing tech stacks, multiple geographies and languages, and complicated org structures. This, coupled with the woes associated with financing large purchases (think $100K+/year, 3-5 year deals) so that vendors receive payment up front and buyers can pay over time, makes a long list before the customer can sign on the dotted line. In the end, the best enterprise sales reps are skillful guides to their customers through the dreaded gauntlet of “stakeholder alignment.”
No More PDF Battles
The current climate is all about being resourceful and efficient, and sales teams are no exception. While we’ve seen some strides in sales automation, one of the biggest friction points for buyers and sellers remains the financing process.
Remember the PDF battle? This incumbent process of offering flexible payments is full of paperwork and intentionally opaque, making it slow and difficult to scale. It bogs down sales teams when speed and customer service matter most – during the deal-closing process. B2B sales teams need to build alignment within their own organization (namely finance and sales orgs), and within their customer’s (namely procurement and legal).
Vartana is an end-to-end sales closing platform that embeds financing and payment options at the point of purchase for enterprise technology. It enables:
Sales teams to increase efficiency and velocity. Vartana lives in the CRM, the home for sales teams. It underwrites every potential deal, and provides a closing, payments, and financing toolkit that helps qualify, win, and execute more deals. The result is more sales closed, faster, and more commissions.
Finance teams to drive higher revenue and cash today. Vartana eliminates manual workflows, allowing finance teams to support sales while also ensuring high-quality customers. It even fits into existing captive financing processes and can free up liquidity for many vendors who today, reluctantly offer financing off their balance sheets to win and retain important customers.
End customers to purchase business critical technology like cybersecurity, cloud, and IoT solutions today without massive cash outlays upfront, all while streamlining the entire sales process.
Vartana’s Approach
Vartana’s go-to-market targets adoption at the sales level – those who are actually selling in the trenches. When we talked to reps who had closed deals using Vartana, they said that the thought of having it removed from their toolbox would put them at a severe disadvantage.
And Vartana is already live with blue-chip enterprise vendors including Samsara, Verkada, and Domo, which provides exposure to high-quality, lower-risk end-customers who are purchasing mission-critical software.
In addition to building out more products to simplify the life of sales teams, Vartana will be able to extend their reach into other digital form factors like B2B marketplace checkout.
Co-founders Kush and Ahmed embarked on their journey in 2020. Prior, they worked at Motive (formerly KeepTrucking), a fleet management platform, where they encountered inefficient contract management and inflexible payment systems. Their years of hands-on experience gave them an understanding of how deals could be prolonged due to inadequate payment flexibility. This eventually led them to leave Motive with a vision to build Vartana.
When we met Kush and Ahmed, we were deeply impressed with the clarity of their vision. They see Vartana as business that can streamline sales closing today while building over time into a full-fledged platform, and back it up with a relentless focus on execution.
CHICAGO/LONDON (1 June 2023) – Today, JMAN Group (“JMAN”), an international commercially focused data consultancy, announced a minority investment from Baird Capital’s Global Private Equity Fund. The investment supports the continued expansion of JMAN’s range of data-led solutions for clients, as well as international growth, with a specific focus on North America. Financial details of the transaction were not disclosed.Founded in 2013, JMAN delivers a range of solutions combining consulting, data science and data engineering capabilities that address the growing need for investment and value creation initiatives to be driven by data, at pace. JMAN combines the commercial mindset of a management consultancy with the agility and skillset of a technology company to value creation solutions across sectors and geographies, with a primary focus on the Private Equity industry. JMAN currently has two operational footprints, one in London, United Kingdom and the other in Chennai, India, serving clients in UK, mainland Europe and North America.“Given Baird Capital’s experience in supporting their portfolio companies with expansion into new markets, we believe this is a natural partnership given our intention to grow further internationally,” said Anush Newman, Co-Founder & CEO at JMAN Group. “We’ve experienced phenomenal growth since 2019 and proved ourselves as a leader in the provision of data-driven services and solutions that deliver value, in a fast, flexible and commercially focused manner. We can’t wait to work with Baird to push our boundaries and continue to build a globally recognised world-class team.”
“JMAN’s culture, global footprint and US expansion plans are a great complement to Baird Capital,” said Michael Holgate, Partner with Baird Capital’s Global Private Equity team. “Anush and Michael [LeoValan] have built a fantastic business and we are delighted to be partnering with them. Long-term demand drivers for Data Strategy, Analytics and Engineering are strong and we are excited to support JMAN’s ambition to become a leading global player in this market.”
Baird Capital was advised by Eversheds Sutherland (Legal), Canaccord Genuity (Corporate Finance), Armstrong (Commercial Diligence), Ernst & Young LLP (Financial & Tax), Seedcloud (Technical), BDO (Tax), New Street Consulting (Management), WTW (Insurance) and Humatica (Organisation); JMAN was advised by Alantra (Corporate Advisory), Grant Thornton (Tax) and Gowlings (Legal).
About JMAN Group
Founded in 2013, JMAN Group (“JMAN”) is an international commercially focused data consultancy. JMAN delivers a range of solutions-with a primary focus on the Private Equity industry- combining consulting, data science and data engineering capabilities that address the growing need for investment and value creation initiatives to be driven by data, at pace. JMAN currently has two operational footprints, one in London, United Kingdom and the other in Chennai, India, serving clients in UK, mainland Europe and North America. Learn more at https://jmangroup.com/.
About Baird Capital
Baird Capital manages two investment platforms: Global Private Equity and U.S. Venture Capital and makes investments in B2B technology & services-focused companies around the world. Having invested in 339 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 BairdCapital.com.
Baird Capital Partners Europe Limited is authorised and regulated by the Financial Conduct Authority.
ERS electronic GmbH, one of the world’s leading providers of thermal management solutions for semiconductor manufacturing and European listed private equity investor Gimv join forces to realise ERS’ further growth ambitions. Klemens Reitinger and Laurent Giai-Miniet, managing directors of ERS, retain a stake in the company and continue in their current positions. Financial details are not disclosed.
Based in Germering near Munich, ERS electronic GmbH has over 50 years of experience in providing innovative thermal management solutions allowing the semiconductor industry to undertake reliable thermal tests during microchip production. The company has built up a particularly strong reputation with rapid and precise chuck systems that allow air-cooling-based analytical, parameter-related and manufacturing probing for test temperatures ranging from -65°C to +550°C. Since 2008, ERS electronic is also active in the field of advanced packaging with fully automatic and manual debonding and warpage adjust systems, used today by most semiconductor manufacturers and OSATs (Outsourced Semiconductor Assembly and Test Companies) around the world. The company has received broad recognition in the industry for its ability to tackle complex warpage issues that arise in the fan-out wafer-level packaging manufacturing process.
Gimv has extensive experience in accompanying European companies in realizing ambitious growth plans with the aim of creating sustainable value for the economy and society. Gimv Smart Industries is fully focused on leading growth companies that are at the intersection between digital and industrial and bring both areas of expertise together to offer total solutions. ERS electronic is a great example thereof. Gimv and ERS now join forces to further strengthen ERS’ outstanding market position and capture the sustained increased demand.
Laurent Giai-Miniet, CEO of ERS electronic, states: “The importance of thermal management in the semiconductor manufacturing process continues to grow, leaving us uniquely positioned to capitalize on the rapidly evolving industry to continue to deliver value to our customers. Our choice to partner with Gimv was based on our mutual commitment to excellence and passion for innovation and technology. We are excited to embark with them on a new chapter in ERS’s story to realize our shared vision.”
Klemens Reitinger, CTO of ERS electronic, adds: “We are certain that Gimv will help take ERS to the next level with their proven capabilities in supporting companies like ours in scaling operations and accelerating innovation. This partnership provides us with the resources and flexibility to continue pushing the boundaries in product research and development, ensuring that we remain at the forefront of our industry.”
Ronald Bartel, Partner Gimv Smart Industries & Head of Gimv Germany notes: “ERS’s innovation capabilities and customer-first principles make it an excellent addition to our Smart Industries platform, reflecting our commitment to supporting and developing ambitious companies that drive innovation in their niche. Our investment in ERS is a testament to the company’s potential, and we are excited to work together with the team to execute its growth strategy.”
Today, Truesec announces the acquisition of the Danish company Venzo Cyber Security A/S. The purpose of the acquisition is to further strengthen Truesec´s position as preferred cyber partner in Northern Europe, preventing cyberattacks and minimizing impact.
Truesec´s acquisition of Venzo Cyber Security A/S, a former Venzo Group company, marks an important step for Truesec on its mission to create a safe digital future, as well as to further strengthen its cybersecurity capabilities.
“The acquisition of Venzo Cyber Security A/S significantly enhances our cyber defense capabilities, enabling us to better protect society from cyberattacks. We are excited to welcome the team to Truesec, as their expertise combined with our cyberspecialists in Denmark will make a significant difference in creating a safer society for all organizations in Denmark and Northern Europe”, says Anna Averud – CEO of Truesec Group.
“We are pleased to have found a new owner for our group company, Venzo Cyber Security A/S, and we are very happy on the team’s behalf. In Truesec, they will become part of a dedicated security firm with a global reach, while VENZO continue to pursue our strategy of delivering large multi-disciplinary digital transformation programs in Denmark and the Nordics” says Søren Luplau-Pagh, CEO of VENZO Group.
“This is a significant step forward and will further strengthen Truesec’s offering in Denmark and the Nordics. At Truesec our ambition is to secure Europe´s society against cyberattacks. With our strong team, we’re better equipped to proactively prevent cyberattacks and minimize their impact” says Morten von Seelen, CEO Truesec Denmark.
The acquisition is expected to be completed 1st of June 2023.
Contact us for further information or any inquiries you may have.
Truesec is a global cybersecurity company with a clear purpose: Creating a safer society by preventing cyber attacks. Since its founding in 2005, Truesec has gained a strong reputation and earned the trust of organizations worldwide. Today, Truesec consists of over 300 dedicated cyber specialists in Sweden, US, Denmark, Finland and Germany – covering the full spectrum of cybersecurity. www.truesec.com
Venzo Cyber security A/S was founded 2020 as part of Venzo Group, a leader in digital change. Venzo Cyber Security A/S is focused on protecting enterprise and public clients against cyber threats. Today, Venzo Cyber Security A/S has obtained a strong position in the Danish market delivering high quality security advisory, solutions, and managed services.
The objectives are to accelerate growth in France and international expansion both organically and through build-ups, to increase digitalization, develop activities on selected markets bringing more value to customers and better address high potential trends as the Power over Ethernet (PoE).
Argos Wityu has provided its commitment to TKH Group, a technology company listed on Euronext Amsterdam, to become majority shareholder of TKH France and its two subsidiaries, CAE Data SAS and ID Cables SAS. TKH Group will become a 40% shareholder in the newly formed entity. This acquisition marks Argos Wityu’s seventh investment by its Mid-Market fund VIII.
The transaction is expected to close in Q3 2023, subject to the customary employee information and consultation procedures in France as well as necessary regulatory antitrust filings.
TKH France designs and distributes cabling and connectivity solutions addressing notably the smart building (tertiary & residential), industrial, marine & offshore, nuclear & infrastructure, healthcare and entertainment markets. With a turnover of €129.3 million in 2022 and 186 FTE, TKH France is the leading provider of cabling and connectivity solutions in France. The group’s value-added lies notably in its flexibility to design customized solutions with a short go-to-market. Moreover, TKH France enjoys a high product quality, excellence of service, a strong customer experience and best-in-class operations. In particular, the one-stop-shop characteristic relies on more than 12 000 references with strong technical and quality standards.
Thomas Ribéreau, Partner at Argos Wityu said “Argos Wityu is proud to have been chosen by TKH Group to further develop this very successful French connectivity solutions company. We are pleased that TKH Group will remain invested in the operations. We will strive to preserve the group’s DNA, developing its market-leader identity and the added value brought to its clients through its strong offer of products and services, and to structure its growth.”
Alexander van der Lof, CEO of TKH Group added: “With the announcement of this intended substantial divestment a next milestone in the roll out of our Accelerate 2025 strategy is reached. The value creation potential with a buy and build strategy for this activity can best be realized outside the TKH Group and we firmly believe that private equity firm Argos Wityu will bring the right experience and necessary focus to grow these activities into the next stage. For TKH, this divestment allows us to put further strategic focus on our differentiating and innovative power in smart technologies to drive added value at higher levels. By reinvesting part of the proceeds for a 40% share, TKH has the opportunity to further benefit from the value creation potential in the near future. TKH will continue to be active in France within Smart Connectivity systems with fibre optic network solutions under the brand TKF Telecom.”
Argos Wityu team: Thomas Ribéreau, Vincent Yacoub, Pierre Cassignol and Stanislas Guichot-Pérère
Buyer’s legal advisers: August Debouzy (Julien Aucomte, Laure Bonin, Maxime Legourd, Sophie Faulcon)
Buyer’s financial due diligence: EY (Emmanuel Picard, Fany Krieger, Maxime Reygrobellet)
Buyer’s strategic due diligence: Strategia (Jean Berg, Manon Clément)
Buyer’s tax advisers: Arsene Taxand (Franck Chaminade, Valentine Roulin)
Buyer’s ESG advisers: Axa Climate (Julien Famy, Théophile Bellouard)
Argos Wityu
Coralie Cornet
Director of Communications
ccc@argos.fund
+33 6 14 38 33 37
About Argos Wityu / argos.wityu.fund
One firm, two strategies. Argos Wityu is an independent European private-equity group that supports the growth of mid-sized business and back their management teams.
With more than €1.4bn assets under management, over 30 years of experience and more than 90 businesses assisted, Argos Wityu operates from offices in Brussels, Frankfurt, Geneva, Luxembourg, Milan, and Paris. The group seeks to acquire majority stakes and invests between €10m and €100m in each investment of its two strategies:
The Mid-Market fund helps companies implement ownership transitions to accelerate growth
The Climate Action fund aims at shaping European sustainable leaders by making their ‘grey-to-green’ transition.
Paris, 31 May 2023 – Linxea Finance Group (“the Group”), Linxea.com (“Linxea”) and Irbis solutions —supported by NextStage AM and M3I (“Matignon Investissement”) since 2015, are welcoming new investment from IK Partners (“IK”) to launch a new phase of accelerated development. The transaction is subject to the approval of the AMF, the French financial markets regulator.
Over the past 20 years, Linxea has established itself as the leading independent online platform for the distribution of savings products in France. Since 2015, under the leadership of Antoine Delon and Yves Conan, Linxea has seen very strong growth with the support of NextStage AM and MI3. During this time, the platform has seen its client base grow from 20,000 to 90,000 as well as an increase in its assets under management from €800 million to €2.8 billion. Against the backdrop of a challenging macro-economic environment, the results for 2022, which included a record inflow of €600 million and over 20,000 new customers, are evidence of the solidity and relevance of the platform developed by the Linxea teams.
Irbis has also established itself as a French leader in the design of structured products distributed through a network of financial advisors, private banks and institutions. Since it deals with a growing asset class, 2022 was a busy year for the Irbis team. Generating over €1 billion in revenue, the team used its extensive digital skills to strengthen the range of services offered and develop new features for the Irbis Map tool.
The addition of IK to the shareholder base marks a new phase in the Group’s journey. Since 2015, the Group has digitalised all its processes under the leadership of Tiphaine de Labarre, Chief Product Officer and going forward, it aims to continuously improve the platform and offer new services, while also strengthening its teams. To support these efforts, the Group hired three new recruits at the beginning of the year: Vincent Riffier, Michaël Turjeman and Sébastien Raphanaud who hold the roles of Chief Technology Officer, Director of Operations and Director of the Asset Management Division respectively.
This added investment is also an opportunity for Antoine and Yves to reinforce the Group’s Management Committee which has recently seen the addition of three General Managers: Stanislas de Vasselot as Chief Financial Officer, Clément Lemaire as Deputy Chief Executive Officer of Irbis and Diane Larramendy as Chief Operations Officer who will be overseeing the Group’s digital development.
“We are proud to have succeeded in our ambition of becoming a leader in the distribution of online savings products since our acquisition in 2015. Our well-established track record in financial products has enabled us to consolidate the platform’s historical value proposition — the most diverse offering at the lowest price — and focus on providing the best digital customer experience for our users, thanks to a team of excellent managers. None of this would have been possible without the support of our financial shareholders, NextStage AM and M3I, who showed confidence in us during this initial development phase. The arrival of IK at the table signifies the beginning of a new stage in the history of the Group and we are excited to see what the next few years will bring”, said Antoine Delon, Co-Chair of the Linxea-Irbis Group along with Yves Conan.
“This strategic move provides an opportunity for us to recognise the progress made by the teams across the Group, particularly Antoine and Yves since 2015. Today, Linxea is in the best position to transform the savings market. The potential for innovation and a successful outcome is what convinced us to invest in the company in the first place and make it a key part of our platform. The success of Irbis’s offering is also proof of the fundamental transformation the Group has undergone in terms of its the savings product range and we are delighted to welcome IK to help us accelerate the Group’s development in a market that has, so far, only experienced the start of what will be a profound and lasting disruption,” added Jean-David Haas, Co-Founder of NextStage AM.
“We have been thoroughly impressed with the Group’s journey to date, especially in the way in which it has led the market in terms of offering innovative solutions which capitalise on market disruption. We are delighted at the level of confidence bestowed upon us by the Group’s management team as well as shareholders and we look forward to working with them to actively contribute to its continued development,”concluded Pierre Gallix, Managing Partner at IK and Advisor to the IK Small Cap III Fund.
Those involved in the operation:
Irbis Finance: Antoine Delon, Yves Conan, Stanislas de Vasselot, Clément Lemaire, Diane Larramendy NextStage AM: Jean-David Haas, Arthur Vignéras, Marie-Pauline Noël MI3: Christian Haas, Jérôme Dhamelincourt IK Partners: Pierre Galix, Thibaut Richard, Florent Labiale, Paola Ismail Cambon Partners (M&A Company): David Salabi, Nicolas Pirot, Victor Simal Aldéa, Alexandre Cuignet Joffe et Associés (consulting firm): Thomas Saltiel, Camille Malbezin, Clémence Bressolin, Virginie Davion, Ayméric Dégremont 8 Advisory (VDD Finance): Emmanuel Riou, Alexandre Bengougam Jeausserand-Audouard (management consultants): Ronan Lajoux, Patrick Loiseau FIG Partners (M&A buy-side): Christophe Muyard Winston & Strawn LLP (Buy-side legal advisors): Grine Lahreche, Audrey Szultz, Vincent Bourelly Exelmans (Financial DD): Stéphane Dahan, Eric Chan, Océane Lambert Ares&Co (Commercial DD) : Giovanni di Francesco, Thomas André Singulier (Product & Tech DD): Claire-Marie Faucheux KPMG: Florence Olivier et David Guiet (Legal DD), Albane Eglinger (Social DD), Vincent Maurel (Regulatory DD), Cédric Philibert (Tax DD)
The Linxea-Irbis Group benefits from the expertise of an experienced and established team that has been working in the market for over 15 years. Its mission is to provide a wide range of savings and structured products to as many people as possible.
Linxea – 58 avenue Hoche, 75008 Paris, France, Trade and Companies Register of Paris no. 478 958 762 Registered with ORIAS, the French Register of Insurance, Banking and Finance Intermediaries, under no. 07031073 as a COA (Insurance or Reinsurance Broker) and CIF (Financial Investment Advisor). Irbis Solutions – 58 avenue Hoche, 75008 Paris, France, Trade and Companies Register of Paris no. 891 835 126. Registered with ORIAS, the French Register of Insurance, Banking and Finance Intermediaries, under no. 21003488 as an Insurance Broker and Financial Investment Advisor, and member of the CNCGP, the National Chamber of Asset Management Consultancy. https://www.linxea.com/
An independent management company based in Paris approved by the AMF (French financial markets regulator), NextStage AM, which has cultivated an “entrepreneur/investor” philosophy since its inception in 2002, is one of the pioneers and leaders in innovative and patient development capital in France. NextStage AM has developed, step by step, a multi-strategy private equity platform that directly and indirectly represents, as of the end of December 2022, €7.5 billion assets under management. NextStage AM invests in a limited number of French and European innovative and growing SMEs and mid-sized companies (89 companies in its portfolio as of 31 December 2022), to which it provides entrepreneurial investor expertise and strong operational support (integration of environmental innovation, talent, international, external growth). NextStage AM provides long-term support to SMEs and mid-sized companies involved in digital health, environmental innovation and digital technology. It gives them the means to accelerate their development and capacity for innovation in order to become “champions” in their markets, both in France and internationally, through organic and/or external growth. https://www.nextstage-am.com
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 over 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
IMV Technologies is delighted to announce the acquisition of Veterinary Solutions, a leading developer of veterinary digital radiography X-Ray (DR X-Ray) systems and veterinary patient archiving and communication system (PACS) software, based in Belgium.
Veterinary Solutions will join the companion animal business of the IMV Technologies Group. Veterinary Solutions has a reach throughout Europe and under the leadership of Lode Leen, CEO Veterinary Solutions, has developed into one of Europe’s leading providers of veterinary imaging solutions.
Leen comments, “We are delighted to be joining the IMV Technologies Group. This will provide us with the resources and market knowledge to take our business to the next level; IMV Technologies is a natural partnership for us in this exciting and growing market.”
We are delighted to be joining the IMV Technologies Group.
Lode Leen, CEO, Veterinary Solutions
Alain de Lambilly, CEO of IMV Technologies, adds, “Veterinary Solutions is a great business and we are pleased to welcome Lode and his team into the IMV Technologies family. We have been impressed by Veterinary Solutions’ dedication to providing the best products and services to their clients across Europe.
Veterinary Solutions is a great business and we are pleased to welcome Lode and his team into the IMV Technologies family.
Alain de Lambilly, CEO, IMV Technologies
“At IMV, one of our core values is innovation and we recognise that Veterinary Solutions is committed to transforming the lives of veterinarians with their technologies and solutions. Veterinary Solutions will join our growing Companion Animal business, bringing additional experience, products, and software solutions to our comprehensive product range, further expanding our veterinary imaging offering across Europe.”
NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the acquisition of an industrial park in Phoenix, Arizona and an industrial warehouse in Atlanta, Georgia. The properties are both newly constructed Class A assets and were acquired in two separate transactions from two different sellers for an aggregate purchase price of approximately $250 million.
The Arizona property is strategically located in Phoenix’s Southwest Valley industrial submarket in close proximity to major transportation nodes including Interstate Highway 10 and Arizona State Route 101. The newly-delivered property consists of three high-quality Class A buildings totaling approximately 1.3 million square feet (“SF”).
The Georgia property is located in Palmetto, in close proximity to the CSX Fairburn Intermodal Terminal and the Atlanta airport. The property is a newly constructed Class A warehouse totaling approximately 700,000 SF.
“We are pleased to further expand our industrial footprint in these markets, which continue to benefit from attractive growth fundamentals including positive demographic trends and on-shoring manufacturing trends,” said Ben Brudney, a Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “We are seeing resilient demand for high quality, well located industrial product and we believe despite near-term supply headwinds, industrial supply-demand fundamentals will remain attractive in the medium to long term.”
The purchases were made through KKR Real Estate Partners Americas III, KKR’s Americas opportunistic equity real estate fund. Across its funds in the U.S., KKR has committed or acquired approximately $7.5 billion of logistics assets in the industrial sector since 2018 and currently owns over 48 million SF of industrial real estate in major U.S. metropolitan areas.
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 and on Twitter @KKR_Co.
30 May, 2023 – Egeria Capital Management (“Egeria”) today announced that it has reached a conditional agreement to sell GoodLife Foods (the “Company”) to IK Partners (“IK”).
Headquartered in Breda, the Netherlands, GoodLife Foods is a leading European manufacturer of frozen snacks and meal components such as spring rolls, appetisers, burgers as well as cheese and vegetable bites. The Company offers a broad portfolio of branded and private label products which it sells to Retail, Foodservice and Industrial customers across Europe. GoodLife has over 700 employees with six manufacturing plants located across the Netherlands, Belgium and Denmark.
Formed by the carve-out of Izico from Wessanen in 2014, GoodLife has grown to become a fully integrated leading European frozen appetiser platform. Under Egeria, the Company acquired six companies in three different countries which was followed by years of strong organic growth.
Under the existing management team, GoodLife has gone from strength-to-strength and through its partnership with IK, it expects to further expand its product portfolio with on-trend frozen bites. It also plans to achieve further growth acceleration in- and outside of its core geographies through organic initiatives and buy-and-build.
Dirk Van de Walle, CEO at GoodLife Foods, stated: “We look forward to the next chapter which will see us working with the team at IK who have vast experience in the Food sector and can support us with our ambitious plans to internationalise through organic initiatives and M&A. I would also like to use the opportunity to thank Egeria. We are grateful for the support and opportunities that Egeria has provided GoodLife with over the past years.”
Remko Hilhorst, Managing Partner at IK and Advisor to the IK IX Fund, stated: “We have been impressed with GoodLife’s track record to date and its ability to continuously evolve its product portfolio to meet the needs of its customers. It has a diversified offering with further growth potential which can be unlocked in the years to come. With its solid foundation in place, we look forward to collaborating with Dirk and the team to develop the Company further.”
Sander van Keken, Partner at Egeria, stated: “It has been a true pleasure working with Dirk, Kamiel, Willem and the complete GoodLife organisation. We are proud that under our ownership Goodlife has transformed from a carved-out company primarily focused on the Benelux to a European company with a much broader product range of frozen snacks. I am confident that together with IK GoodLife will continue to expand across Europe whilst maintaining its unique and pleasant GoodLife culture.”
Completion of the transaction is subject to legal and regulatory approvals.
