Category Archives: News

Bettcher Industries to Acquire Automated Protein Processing Equipment Manufacturer Frontmatec from Axcel

KKR

Acquisition Represents Important Step in Building Scaled Food Processing Automation Platform

BIRMINGHAM, Ohio–(BUSINESS WIRE)– Bettcher Industries (“Bettcher”), a leading manufacturer of protein processing equipment, today announced the signing of a definitive agreement under which it will acquire Frontmatec (the “Company”) from Axcel. KKR, which acquired Bettcher in December 2021, will invest additional capital from its North American private equity strategy to support the transaction.

Headquartered in Kolding, Denmark, Frontmatec is a global manufacturer of end-to-end automated solutions for pork and beef processing, with world-class robotics and vision system capabilities. The Company serves as a full line supplier of processing equipment, parts and services, instruments, and software, which help solve key issues around food and worker safety.

The transaction represents an important step in Bettcher and KKR’s strategy to build a scaled food processing automation platform serving food processing plants globally. In addition to delivering leading automation capabilities, the purchase of Frontmatec deepens Bettcher’s footprint in Europe. Frontmatec’s executive team led by Allan Kristensen is expected to remain in place to continue to grow the business after the transaction closes.

“Frontmatec has built a leading brand and position by enabling customers to continuously improve the productivity and safety of their workforce. The Company’s capabilities in automation and its global presence make it a superb fit for the Bettcher platform, and we are excited to work with Allan and his team to extend our collective innovation leadership,” said Tim Swanson, CEO of Bettcher.

“We are excited to join forces with Bettcher and believe this strategic transaction will enable Frontmatec to continue expanding our suite of solutions which are helping to meet the accelerating global demand for improved yield in production and food quality. I would like to thank the Axcel team, who have been instrumental in developing Frontmatec into the leading provider it is today, as well as our employees for their tremendous efforts. We are proud of everything we have accomplished and are focused on the exciting opportunity to continue growing our business together with Bettcher and KKR,” said Allan Kristensen, CEO of Frontmatec.

Bettcher will continue to add other world-leading food processing capabilities, while maintaining Frontmatec’s strong culture and values. As part of the transaction, KKR will extend its employee engagement program to all employees at Frontmatec. The strategy’s cornerstone is to allow all employees to take part in the benefits of ownership by granting them the opportunity to participate in any equity return alongside KKR.

“We have great admiration for the Frontmatec team, and view the Company as a highly compelling strategic addition to Bettcher as we pursue our long-term strategy of building a scaled global platform serving customers in the food and food processing industry. We are very excited about the growth that lies ahead, and look forward to continuing to build on the platform from here,” said Dan Daniel, Chairman of Bettcher.

“We are thrilled to welcome Frontmatec and its automated food processing capabilities into the Bettcher and KKR family, and thank Axcel for creating an industry leader in automated protein processing. Importantly, we look forward to incorporating Frontmatec and making all employees owners in the combined business as the latest example of our participation in the shared ownership movement,” said Josh Weisenbeck and Brandon Brahm, Partners in KKR’s Industrials investment team.

The transaction is expected to close during the second half of 2022 subject to customary regulatory approvals. Further terms were not disclosed.

Nordea, Kirkland & Ellis and Moalem Weitemeyer served as advisors to Bettcher and KKR.

About Frontmatec

Headquartered in Kolding, Denmark, Frontmatec is a leader in end-to-end automated solutions for the red meat processing industry. Frontmatec serves more than 1,500 customers worldwide through its global manufacturing and service footprint, with key relationships with many of the largest red meat processors. Frontmatec was formed in 2016 through the consolidation of five automation platforms and employs over 1,300 people today. Visit Frontmatec at: https://www.frontmatec.com/en

About Bettcher Industries

Headquartered in Birmingham, Ohio, Bettcher is a leading developer and manufacturer of innovative equipment in the food processing and medical device industries, majority-owned by KKR. The Bettcher portfolio includes the following: Bettcher, a designer and manufacturer of handheld trimmers, tools, and cutting consumables for all protein applications; Cantrell-Gainco, a manufacturer of processing equipment and yield enhancement and yield tracking systems for various protein operations; ICB Greenline, an aftermarket replacement parts and services company focused on poultry processing; and, Exsurco Medical, a leading-edge medical device company that provides innovative products and services to transform surgical grafting, debridement, and recovery outcomes for patients with burn and trauma wounds. Visit Bettcher at: https://www.bettcher.com/en

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.

For Frontmatec:
Allan Kristensen, CEO
+45.262.577.12
alk@frontmatec.com

For Bettcher Industries:
Tom Tomasula, CHRO
(440) 204-3311
TomTomasula@Bettcher.com

For KKR:
Americas
Julia Kosygina / Miles Radcliffe-Trenner
(212) 750-8300
media@kkr.com

Europe
Alastair Elwen / Sophia Johnston
Finsbury Glover Hering
+44.20.7251.3801
KKR-LON@fgh.com

Source: KKR

Categories: News

KKR Leads $200+ Million Growth Investment in Enterprise Identity Protection Leader Semperis

KKR

HOBOKEN, N.J.–(BUSINESS WIRE)–Semperis, a pioneer in identity-driven cyber resilience for enterprises, today announced it has raised over $200 million in Series C funding led by KKR, with participation from Ten Eleven Ventures, Paladin Capital Group, Atrium Health Strategic Fund, Tech Pioneers Fund, and existing investors including Insight Partners. Semperis is the fastest-growing cybersecurity company in America per the Financial Times 2022 ranking. The new funding will help enable Semperis to accelerate hiring across all functions globally to better support its expanding customer base, with an emphasis on its identity-focused incident response team.

@SemperisTech, a pioneer in identity-driven cyber resilience for enterprises, today announced it has raised over $200 million in Series C funding led by @KKR_Co

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Identity systems such as Microsoft Active Directory (AD) and Azure AD, used in over 90% of enterprises, are coming under sustained attack. With its multi-layered defense approach before, during, and after an attack, Semperis offers the industry’s most comprehensive security technology for hybrid AD and other identity systems, combined with incident response expertise.

“From day one, Semperis has been on a mission to be a force for good,” said Semperis CEO Mickey Bresman, who co-founded Semperis along with Guy Teverovsky and Matan Liberman. “With Semperis’ multi-layered identity protection, organizations can fend off cyber attacks without being forced to choose between two bad options: paying the criminals or getting shut down. With the combined experience that KKR, Ten Eleven Ventures, Insight Partners, and other esteemed investors in this round bring scaling high-growth cybersecurity companies, we have an elite group of strategic partners in our corner to help advance our mission.”

KKR is investing in Semperis through its Next Generation Technology Growth Fund II, a fund dedicated to growth equity investment opportunities in the technology space. Ben Pederson, Director on KKR’s Tech Growth team, has joined Semperis’ Board of Directors.

“A very dedicated customer base, including a growing number of the largest organizations in the world, trust Semperis to defend their critical identity systems from cyberattacks,” said Ben Pederson. “The vast majority of attacks today are identity-based, targeting credentials to infiltrate businesses. Semperis’ leading identity protection technology and incident response expertise are delivering category-defining innovation, and KKR is proud to back their mission.”

In addition to scaling its staff, Semperis is dedicating a significant portion of the funding round to research and development to drive further innovation in the identity system defense market, focusing on its Directory Services Protector platform, which Gartner categorizes as an identity threat detection and response (ITDR) solution. Gartner included ITDR in its top cybersecurity trends for 2022, noting that credential misuse is a primary method attackers use to access systems and achieve their goals.

“Semperis is driving innovation in one of the most historically overlooked but critical areas of cybersecurity: identity system defense,” said Ten Eleven Ventures Founder and General Partner, Mark Hatfield. “This new funding round, among the largest cybersecurity raises so far in 2022, will enable Semperis to continue to grow its commanding position in this increasingly important market segment.”

“We’re thrilled to participate in another funding round with Semperis and continue to offer support for our mutually successful strategic partnership,” said Insight Partners Managing Director, Teddie Wardi. “We believe in Semperis’ unique approach of securing the foundational identity infrastructure, which combines industry-leading technology and incident response support to offer customers a complete identity system defense.”

Frost & Sullivan awarded Semperis the 2022 Competitive Strategy Leadership Award based on the company’s innovation and customer impact in the global AD security and recovery market.

“Semperis has unmatched experience in breach preparedness and incident response to Active Directory and other identity-based cyberattacks,” said Frost & Sullivan Industry Principal, Sarah Pavlak. “Semperis’ solution-based approach focuses not only on their premier technology to meet customer challenges but also best practices and guidance for people and processes, setting them apart from their competitors.”

For more information about Semperis’ directory protection technology and expertise or to learn about open career opportunities, visit Semperis.com.

About Semperis
For security teams charged with defending hybrid and multi-cloud environments, Semperis ensures the integrity and availability of critical enterprise directory services at every step in the cyber kill chain and cuts recovery time by 90%. Purpose-built for securing hybrid Active Directory environments, Semperis’ patented technology protects over 50 million identities from cyberattacks, data breaches, and operational errors. The world’s leading organizations trust Semperis to spot directory vulnerabilities, intercept cyberattacks in progress, and quickly recover from ransomware and other data integrity emergencies. Semperis is headquartered in Hoboken, New Jersey, and operates internationally, with its research and development team distributed throughout the United States, Canada, and Israel.

Semperis hosts the award-winning Hybrid Identity Protection conference and podcast series (www.hipconf.com) and built the free Active Directory security assessment tool, Purple Knight (www.purple-knight.com). The company has received the highest level of industry accolades, recently named to Inc. Magazine’s list of best workplaces for 2022 and ranked the fastest-growing cybersecurity company in America by the Financial Times. Semperis is a Microsoft Enterprise Cloud Alliance and Co-Sell partner.

Twitter https://twitter.com/SemperisTech
LinkedIn https://www.linkedin.com/company/semperis
Facebook https://www.facebook.com/SemperisTech
YouTube https://www.youtube.com/channel/UCycrWXhxOTaUQ0sidlyN9SA

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.

About Ten Eleven Ventures
Ten Eleven Ventures is the original venture capital firm focused solely on investing in digital security. The firm invests globally and at all stages, from seed to growth (the latter via its Joint Investment Alliance with KKR). Since its founding in Silicon Valley in 2015, Ten Eleven Ventures has raised nearly $US 500 million and invested in 40 leading cybersecurity companies including Twistlock, Verodin, Cylance, KnowBe4, Darktrace, and Ping Identity. For more information, please visit www.1011vc.com or follow us on Twitter @1011vc.

Contacts

Media:
For Semperis:
Ashley Crutchfield, fama PR
617-986-5025
semperis@famapr.com

For KKR:
Julia Kosygina and Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

For Ten Eleven Ventures:
Megan Dubofsky
917-576-5590
mdubofsky@1011vc.com

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3d investors invests in Jati & Kebon, an international player in outdoor furniture

3D Investors

Together with founder Johan Verbeke and the management team of Jati & Kebon, 3d investors will help build the growth of Jati & Kebon in the coming years. Johan Verbeke remains active in the company he has built and reinvests together with the management.

Jati & Kebon, based in Nazareth, has more than 25 years of experience in the design, production and sale of outdoor furniture. Its origins lie in the Verbeke family business through which the second generation, in 1995, started selling teak furniture. In order to meet the increasing demand and to be able to guarantee an optimal quality, in-house production facilities were set up in China and Indonesia. Meanwhile, Jati & Kebon has grown into a global player and established name in the outdoor furniture segment. It is one of the jewels of the Belgian ecosystem of outdoor furniture. Its customer base extends to more than 30 countries. The company has built up a strong position in the United States and Canada, among other countries, thanks to many years of partnerships with strong online and omnichannel retailers. Jati & Kebon employs 350 people in Belgium, China and Indonesia and achieves sales of around EUR 45 million.

Johan Verbeke, founder of the company: “The entry of 3d investors in our capital is a well-considered decision, which fits in with our ambition to further expand Jati & Kebon internationally. With 3d investors, we are bringing on board complementary “business builders” who will help develop the company’s strong growth potential from within the existing corporate culture. I am excited to work with the management team and 3d investors to continue building our beautiful company over the next few years.”

Yves De Backer, associate partner 3d investors: “We are strongly impressed how Jati & Kebon has grown into an international player in outdoor furniture by focusing on quality, flexibility and customer orientation. The entrepreneurship of Johan Verbeke and his management team play a key role in this and fits perfectly with the family and entrepreneurial values of 3d investors. This partnership fits seamlessly into our passion to help strong companies grow to the “next level” internationally.”

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Gimv further invests in industrial automation and becomes majority owner of workpiece carrier specialist Variotech

Topic: Investment

Variotech is Germany’s leading manufacturer of innovative workpiece carriers, which are primarily used in fully automated manufacturing processes for transporting and handling components of various forms and sizes. The company’s customized products predominantly comprise reusable, exceptionally durable workpiece carriers that are manufactured almost exclusively from recycled materials by thermoforming.

Established in 1998, Variotech (www.variotech.de), which is headquartered in Nordhorn/Lower Saxony, has developed into a successful automation technology specialist in recent years. Variotech’s products are not just critical for transportation within or between sites, but are in particular supporting automated operations during optimised production processes by using individual geometries. Sensitive workpieces such as PCBs or electrical sensors can be safely stored, transported, and precisely positioned. High packing density, stability, torsion resistance and electrostatic discharge are just some of the system’s key attributes and product benefits.

Variotech is characterised by high innovative strength, agility and manufacturing penetration. During product development, the experts ensure close collaboration  with its customers in order to find the perfect interaction between the workpiece, the carrier and robotics. Variotech supplies customers from a broad range of industries, such as the automotive industry, electronics, semiconductor technology, and medical technology but also household technology and consumer goods. In addition to the continued growth in the European home market, the company defined an ambitious expansion strategy for  North America with its recently established subsidiary in Indianapolis.

Variotech’s products are a key component in production automation and allow the increasing use of robotics, as such enabling for the re-shoring of industrial production in Europe. By primarily using recycled materials, combined with the durability of its products, the company also supports environmentally-conscious manufacturing processes – two major production development trends for which Variotech is exceptionally well positioned.

“With our offering of workpiece carriers specifically developed to ensure the highest quality standards, we believe we are perfectly positioned in a flourishing market environment with significant earnings potential”, notes Variotech’s CEO Benedikt Fleig, who  re-invests alongside Gimv as co-investor. “We have shown strong growth in the past and, with our new site in Indianapolis, have laid the foundation for a successful expansion of our business activities in North America. With Gimv, we have found a strong partner to continue our successful journey by executing on the wide range of opportunities in Germany and abroad. Gimv won the day in a multi-stage process and we have no doubt that we have made an outstanding choice for a successful future.”

“With Variotech we are delighted to have a fantastic new addition to our Smart Industries portfolio and we are proud having convinced with our partnership offering and our well-balanced, hands-on approach”, explains Ronald Bartel, Head of Gimv Germany and responsible for the Smart Industries investment platform at the company’s German office in Munich. “Together with the management and the entire team we want to implement our growth plans without delay and leverage Variotech’s top-class performance as a customer-oriented enabler for sophisticated and technically perfected automation.”

The sellers of Variotech consist of a group of investors. The parties agreed not to disclose the remaining details of the transaction.

 

Read the full document

English – French – Dutch
 

Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

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Håndverkskompaniet and Adelis partner to create a leading rehabilitation services group in Norway

Adelis Equity

Tue, May 24, 2022 08:00 CET Report this content

Adelis and Håndverkskompaniet partner to create a leading building rehabilitation group in Norway. The group will focus on the growing segments for rehabilitation and renovation, and aims to consolidate the market and double revenue by 2025, through acquisitions and organic growth.

The Norwegian market for building rehabilitation, renovation and related services amounts to some NOK 200 billion per year and has seen stable historical growth. The market is expected to continue to grow, due to significant rehabilitation needs in both the public and commercial sector. At the same time, the industry is adapting to more ambitious sustainability targets, which include a shift from new build to rehabilitation, but also more innovative production processes, energy-efficient solutions, and circular models for re-usage of material and products.

“Adelis has followed the rehabilitation services market over many years and consolidated this industry in other Nordic markets. We see continuously increasing requirements in terms of quality and sustainability. Environmental emissions for the transformation of existing buildings and the reuse of materials are far more sustainable than replacing existing buildings with new ones. There is room for a larger professional group in this market, and we see Håndverkskompaniet as a strong platform to create such a group in Norway,” says Lene Stern from Adelis.

“We believe in a decentralized model where entrepreneurs can continue to operate under their own brand and nurture their own culture, while taking part in a larger group and collaborate and realize synergies. Our ambition is to strengthen the Norwegian group with another two to four companies during the first year”, says Jørgen Møinichen from Adelis.

Håndverkskompaniet is a Norwegian company specialized on building renovation and rehabilitation services in the Oslo area. The company was first established in 1994 and is a specialist on complex renovation projects related to offices, commercial buildings, sports facilities and other public specialist buildings.

“We believe Håndverkskompaniet has significant growth potential and know that Adelis has extensive experience in developing business services companies. The owners and the management team are excited to partner with Adelis to create the leading building rehabilitation services group in Norway,” says Håndverkskompaniet’s CEO Sivert Varvin.

Petter Eiken will be the new Chairman of Håndverkskompaniet and the future renovation services group, “Building restoration and renovation services will only be more important going forward and is a key enabler to a more sustainable society. I look forward to working together with Håndverkskompaniet and Adelis to develop a leading rehabilitation group in Norway”.

The transaction is subject to customary regulatory approvals. The parties have chosen not to disclose the purchase price.
For further information:

Future chairman of the group: Petter Eiken, petter.eiken@pelican.as, +47 982 10 000

Adelis Equity Partners: Lene Stern, lene.stern@adelisequity.com, +46 70 281 34 24
About Håndverkskompaniet

Håndverkskompaniet is a Norwegian construction company focused on building renovation and restoration services in the Oslo area. The company was established in 1994 by two founders that are still active in the company. Headquartered in Oslo, Norway. For further information, please visit www.handverkskompaniet.no.
About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 32 platform investments and more than 150 add-on acquisitions. Adelis today manages approximately €2 billion in capital. For more information, please visit www.adelisequity.com.

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IK Partners to acquire MÜPRO from Perusa

IK Partners

IK Partners (“IK”) is pleased to announce that the IK IX Fund has signed an agreement to acquire MÜPRO Group GmbH (“MÜPRO” or “the Company”), a leading solutions provider and supplier for applications in pipe fixing technology. IK is acquiring a majority stake from Perusa Partners Fund II L.P. (“Perusa”), advised by Perusa GmbH, alongside management who will be reinvesting. Financial terms of the transaction are not disclosed.

Founded in 1964, MÜPRO is a German-based speciality manufacturer and distributor of pipe fixing technology for technical building equipment, sanitary, heating, ventilation and air conditioning applications (“SHVAC”). MÜPRO has a comprehensive and modular product portfolio complying with requirements including, noise reduction, fire protection and corrosion resistance. MÜPRO is active in a growing market driven by the need for investment and the upgrading of SHVAC installations to increase energy efficiency and improve building-related decarbonisation.

The Company is headquartered in Wiesbaden, Germany, with over 460 employees serving over 12,000 customers ranging from small local installers to large installers who manage complex construction projects. MÜPRO has a strong presence in its key markets, namely Germany, Benelux and France while also growing its presence in other European markets as well as India and the Middle East. With the support of Perusa since 2018, MÜPRO has enjoyed stable long-term growth, strengthened its position and gained market share.

Through the partnership with IK, MÜPRO aims to grow its footprint in existing markets, continue its journey of digitisation, expand into adjacent geographies and drive market consolidation. The Company will continue to be led by the CEO, Dr Wolfgang Gödel and his team.

Dr Wolfgang Gödel, CEO at MÜPRO, said: “We strongly believe that partnering with IK will provide us with the resources and tools needed to continue our growth trajectory. We look forward to expanding our international reach and continuing our digitisation journey. Since inception, the Company has gone from strength to strength and we thank the team at Perusa for all their support.”

Anders Petersson, Managing Partner at IK and Advisor to the IK IX Fund, said: “We have been impressed with MÜPRO’s development and ability to adapt to customer needs and grow to establish a leading position in its core markets. This has been based on its strong product and service offering and innovation capabilities. Building on this solid foundation and success across its entire portfolio, we are looking forward to working together with Wolfgang and his team to continue the journey and extending their success by expanding into new territories.”

Dr Christian Hollenberg, Managing Director at Perusa’s Advisor in Germany, said: “We’re delighted with the progress MÜPRO has made during Perusa’s ownership. Since 2018, we have seen the company flourish in existing markets and expand into adjacent territories. We wish the team, along with IK, all the very best for the future.”

Completion of the transaction is subject to legal and regulatory approvals.

For further questions, please contact:
IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

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Ahlström Capital acquires majority of Ahlstrom-Munksjö’s Decor business

Ahlström

Ahlström Capital’s wholly owned investment company Ahlstrom Capital B.V. has today signed an agreement to acquire 60% of Ahlstrom-Munksjö’s Decor business. The Decor business is transferred to a newly formed company that is to be named Munksjö. The acquisition is a perfect fit in Ahlström Capital’s Forest & Fiber focus area and offers good value creation opportunities.

Ahlström Capital has been a long-term owner of Munksjö since 2013 as the combination of Munksjö AB and Ahlstrom’s Label and Processing business was completed. Since 2017, Ahlstrom-Munksjö has developed the Decor business from an established European business to a leading international player, well positioned to serve its customers globally. A growth platform in South America was established through the acquisition of Caieiras’s specialty paper mill in Brazil and the fastest growing decor paper market, China, was entered through the acquisition of decor paper manufacturer Minglian New Materials Technology in Xingtai.
“Ahlstrom-Munksjö’s Decor business is a leading global business with a broad product portfolio and a market-leading brand, Munksjö. This business is already the leader in higher value market segments and has strengthened the competitiveness in standard decor papers with a footprint in China following the acquisition of Minglian New Materials Technology. For Ahlström Capital the Decor business is a key investment in our Forest & Fiber focus area”, comments Lasse Heinonen, President and CEO of Ahlström Capital.

The Decor business has operated under the Munksjö brand for more than 25 years and the brand is recognized for outstanding quality and service across the decor industry. Ahlstrom Capital B.V. will be the majority owner in the new Munksjö company with a 60% ownership, Ahlstrom-Munksjö is remaining as a minority owner together with Nidoco AB. As a standalone company the Decor business will accelerate its growth, strengthen its competitiveness and global leadership in innovation.
The closing of the transaction is subject to the approval of the competition authorities.

For further information, please contact:
Lasse Heinonen, President and CEO Ahlström Capital, tel. +358 10 888 4113
Camilla Sågbom, Director, Corporate Communications and Responsibility, +358 10 888 4182

About Decor business area
Products: Decor papers are primarily used in laminated wood-panel based furniture, flooring and other interior and exterior building material applications.
Key markets: Europe, North and South America, China and selected export markets
Production: Germany (Unterkochen and Dettingen), Spain (Tolosa), France (Arches), Brazil (Caieiras) and China (Xingtai)
Net sales: Approx. EUR 500 million
Employees: 1,200 people

About minority owners
Ahlstrom-Munksjö is a global leader in fiber-based materials, supplying innovative and sustainable solutions to its customers. Ahlstrom-Munksjö’s mission is to expand the role of fiber-based solutions for sustainable everyday life. Annual net sales of the company is about EUR 3.1 billion and it employs some 8,000 people.
Nidoco AB is a Swedish investment company whose strategy is to create long-term value through active ownership of public and private companies. Nidoco is currently a leading shareholder of three listed companies with head offices in the Nordic region, and has direct and indirect investments in more than 300 unlisted companies globally. Nidoco is an independent part of the Virala Group.

Ahlström Capital is one of Finland’s largest investment companies with a long history of 170 years. We are a family-owned investment company that creates value for our owners by investing in industrial companies, real estate and forest. In 2021, the annual net sales of our portfolio companies was approximately EUR 4.4 billion and they employed almost 13,500 people in 33 countries. Our current portfolio includes significant holdings in the listed companies Detection Technology Plc, Glaston Corporation, and Suominen Corporation. In addition, the portfolio includes Ahlström Invest B.V. (including a significant ownership in Ahlstrom-Munksjö), Enics AG, M&J Recycling A/S as well as an investment in the AC Cleantech Fund. Our portfolio also includes major real estate and forest holdings.

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European Imaging Group closed acquisition of majority stake in CYFROWE.PL

Aurelius Capital

Munich, May 10, 2022 – The European Imaging Group (“EIG”), a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8), closed the acquisition of a majority stake in Cyfrowe.pl (“Cyfrowe”). The company is the leading Polish omni-channel speciality retail operator of high-end photo and video equipment for professionals and enthusiasts. This transaction reinforces EIG’s position as the leading pan-European photo and video specialist multi-channel retailer and offers a base for further expansion into Central and Eastern European markets.

Cyfrowe is headquartered in Gdansk and maintains close partnerships with the major blue-chip brands in the industry. It runs five successful retail destination stores across Poland and a renowned e-commerce platform. The offering is based on both new as well as used equipment and is complemented by a comprehensive range of services, such as customer training and workshops. Cyfrowe has built high levels of brand awareness and is managed by a strong team led by founder and CEO Jaroslaw Banacki, who will remain a significant minority shareholder. Banacki will continue to run the company and will be responsible for Cyfrowe’s future development.

Richard Glatzel, Group CEO of the European Imaging Group, states: “We are ambitious to strengthen our position as the pan-European market leader in our field. Adding Cyfrowe represents our step into the Eastern European Market, further increasing EIG´s reach throughout the continent and leveraging synergies.”

Jaroslaw Banacki, Founder and CEO of Cyfrowe, comments: “Today, Cyfrowe is the leading omni-channel photo and video retailer in Poland. With the completion of our partnership with EIG, we are excited to see the opportunities this will bring and to continue on our successful growth path.” With the founder staying on bord, EIG will have access to the longstanding Cyfrowe industry know-how and expertise, that can be combined with EIG’s wealth of knowledge to capture future growth opportunities.

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Altor enters an equal partnership with the founders of Audiowell

Altor

Altor Fund V (“Altor”) has signed an agreement to enter a partnership with the founders of Audiowell, the Swedish founded international music group. The founders will remain owners and continue in their operational roles.

Andreas Romdhane and Josef Svedlund, launched the Audiowell Group with a mission to increase the quality of lifestyle music by dedicating time, resources and partnering up with talented creators. They have the ambition to enable musicians, songwriters, and creators to live off their music in today’s music industry.

Both founders have worked for more than 20 years as music producers and songwriters, scoring several UK #1 singles, and working with diverse artists such as Westlife, Kelly Clarkson, Diana Ross and Il Divo to name a few. In 2013, they decided to work more closely with artists and creators, identifying talent on YouTube and supporting them by increasing production quality and broadening their reach, publishing music across multiple platforms. Their first signing to the label was Sofia Karlberg. Her rendition of Crazy in Love became viral on YouTube. Today she has over 2 million followers and over 600 million streams across multiple platforms.

Audiowell is located in a music studio complex in the heart of Stockholm, from where it supports over 100 music creators spanning from the US to Hong Kong and South America and focusing on a broad range of genres such as Jazz, Relaxation, Acoustic, Dance, Rock, Classical. In 2021, the company generated in excess of 150M SEK in revenues and have generated billions of streams across 50+ streaming platforms.

Audiowell and Altor have partnered up together with leading producer and co-investor Martin Sandberg (a.k.a. Max Martin), who will provide strategic advice to the company and founders.

”There is so much creativity that needs an outlet. To come to the studio every day and work with our fantastic team of creators is pure joy.” says Andreas Romdhane. “Now we want to step up the pace, and that is where Altor and Max Martin come in. They can help support us in scaling our team so that we can focus on supporting our creators and releasing quality music.” continues Josef Svedlund.

“Audiowell has a tremendous track record, and we were immediately struck by the sheer talent of Josef and Andreas and their creator network. We are very proud to have partnered up together with them and producer Max Martin and look forward to being a strategic partner in their future growth ambitions.” says Andreas Källström Säfweräng, Partner at Altor.

For more information, please contact:
Tor Krusell, Head of Communications at Altor, tor.krusell@altor.com, +46 705 43 87 47

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 5 billion in more than 85 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Iyuno-SDI, Meltwater, RevolutionRace, Raw Fury and Totême. For more information visit www.altor.com.

 

 

Author: Katarina Karlsson
Date: 2022.05.25
Categories: News

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Nooteboom Textiles partners with Bencis to accelerate its international growth

Bencis

Amsterdam, 20 May 2022

Bencis acquired a majority interest in Nooteboom Textiles from prior owner Egeria. Nooteboom, founded in 1852, is the leading European textile wholesaler specialised in women and children’s fabrics for home sewing and small tailors as well as home-decoration. Headquartered in Tilburg, the Netherlands, Nooteboom operates with approximately 100 employees and reaches more than 5,000 B2B customers in over 50 countries.

Under Egeria ownership, Nooteboom transitioned from a historically family-led company to a company with an independent management team. Through its recently enhanced e-commerce platform and increased operational efficiencies Nooteboom is ideally positioned to become the European wide go-to supplier for finished textile fabrics. Bencis will support the company in further building this leading position by focussing on international expansion through Nooteboom’s tailored commercial approach and by establishing strategic partnerships across the European fabrics market.

Michiel Dreesmann and Joost Tabbers, CEO and CFO of Nooteboom are excited about the new partnership with Bencis and are looking forward to further build on the company’s growth story together. Michiel Dreesmann: “With Bencis, we found the ideal partner for our next phase of growth. Their experience with international expansion, B2B e-commerce platforms and their people-centred approach are a perfect fit for Nooteboom.”

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