Category Archives: News

Carlyle Makes Strategic Growth Investment in TriNetX; Acquires Majority Stake in Leading Global Health Research Network

Carlyle

Investment will Accelerate Development of New Clinical Research Capabilities for Healthcare Organizations and Life Sciences Customers, With the Aim of Capitalizing on Both Organic and Inorganic Growth Opportunities

NEW YORK and Cambridge, MA, September 21, 2020 — TriNetX (www.trinetx.com), the leading global health research network optimizing clinical research to bring new therapies to market faster, today announced global investment firm The Carlyle Group (NASDAQ: CG) has made a strategic growth investment and will acquire a majority stake in the Company. Terms of the transaction were not disclosed.

Since its founding in 2013, TriNetX has built the largest global network of research hospitals and academic institutions, top biotech and pharmaceutical companies, contract research organizations (CROs) and other specialty data partners. TriNetX is powered by an impressive network of 170 healthcare organizations in 30 countries and used by more than 40 life sciences organizations including 15 of the world’s top 20 pharmaceutical companies.

“Our goal is to be on the desktop of every healthcare researcher in the world,” said Gadi Lachman, CEO of TriNetX. “To accomplish this we need to continue to develop solutions to support clinical research at our healthcare organizations and bring more global data and technologies such as AI, machine learning and analytics to researchers so that they can ask more questions and generate more real-world evidence. Carlyle’s investment accelerates our growth plans and will shorten the time it takes to turn our vision into reality.”

TriNetX enables researchers to apply a data-driven approach to health research by providing web-based, on-demand access to harmonized global electronic health record (EHR) and claims data with a suite of highly intuitive analytics. TriNetX is utilized in all parts of the drug development cycle, including protocol design and feasibility, site selection and patient identification for clinical trials, as well as serving clinical research for drugs already in the market to help researchers understand efficacy, risks and other market dynamics and to generate real-world evidence (RWE) to support hypothesis and decision making, in real-time.

The longitudinal clinical and claims data representing over 400 million patients available through TriNetX is mapped to controlled terminology and consists of clinical facts from hundreds of healthcare organizations around the world, deep specialty data for all therapeutic areas, including COVID-19, cardiovascular, oncology, and rare disease, and linked medical claims, pharmacy claims and EHR data.

“With a deep clinical focus and a highly scalable data strategy, we believe TriNetX is well positioned for continued organic and inorganic growth opportunities,” said Joe Bress, a Principal specializing in healthcare at The Carlyle Group. “We’re excited to partner with Gadi and the TriNetX management team to help expand their global footprint and continue investing in the company’s mission to advance the collective understanding of human health.”

The investment in TriNetX is a continuation of Carlyle’s long-term global commitment to healthcare, in which it has invested more than $15 billion of equity since inception. Equity capital for the investment came from Carlyle Partners VII, an $18.5 billion fund that makes majority and strategic minority investments primarily in the U.S. in targeted industries, including healthcare.

SVB Leerink served as exclusive financial advisor to TriNetX.

####

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $221 billion of assets under management as of June 30, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,800 people in 31 offices across six continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.

About TriNetX 

TriNetX is the global health research network that connects the world of drug discovery and development from pharmaceutical company to study site, and investigator to patient by sharing real-world data to make clinical and observational research easier and more efficient. TriNetX combines real time access to longitudinal clinical data with state-of-the-art analytics to optimize protocol design and feasibility, site selection, patient recruitment, and enable discoveries through the generation of real-world evidence. The TriNetX platform is HIPAA and GDPR compliant. For more information, visit TriNetX at http://www.trinetx.com or follow @TriNetX on Twitter.

Media Contacts:

Brittany Berliner
Brittany.Berliner@carlyle.com
+1 (212) 813 4839

Jennifer Haas
Jennifer.haas@trinetx.com
+ 1 (978) 697 3921

Categories: News

Tags:

AURELIUS subsidiary Scholl Footwear sells its Australian distribution business to Global Footcare Group

Aurelius Capital

Munich / Melbourne / Milan, September 21, 2020 – Scholl Footwear, a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8), is selling its Australian distribution business to the Global Footcare Group based in Coomera, Queensland, Australia. Global Footcare is a strategic buyer and specializes in the distribution and marketing of comfort footwear. The company will drive sales of Scholl shoes in Australia and New Zealand, via wholesale and specialist channels like pharmacy, health professionals, as well as sports and shoe retail outlets.

The sales transaction is part of Scholl Footwear’s global strategy of leveraging strong regional partners and industry specialists to generate additional growth and further improve earnings through licensing and distribution partnerships.

In Europe, Scholl Footwear operates from its headquarters in Milan, Italy, from which design and collection development, marketing, distribution and licensing activities are managed. Its Asian business is driven via the APAC hub, with the expansion of licensing partnerships playing the leading role.

“Global Footcare is the most capable partner for marketing our products in Australia and New Zealand, especially in view of its already long established partnership as a Scholl Footwear distributor across the medical channel in Australia and New Zealand as well as its local presence and proximity to customers. We’re looking forward to working jointly on future growth,” said Tobias Klaiber, the responsible executive for Scholl Footwear. “We’re considering similar concepts for other markets in the APAC region as well.”

Categories: News

Tags:

Balderton Portfolio company THG goes public on the London Stock Exchange

Balderton

There are few pieces of news so exciting in the technology industry as a new IPO, so we are delighted to congratulate THG on its IPO on the London Stock Exchange.

Matt Moulding first came in to meet our partnership in March of 2010, and we had made our initial Series A investment in THG by April of that year as the company’s first venture capital investor.

We made four further investments in the two year period after April 2010, with the final round in August of 2012, investing £24.3M in total to make Balderton the largest institutional shareholder in THG when it went public.

The London Stock Exchange

THG was an early pioneer in direct to consumer. Since its founding in 2004, THG has grown into a vertically integrated, global e-commerce technology group, and beauty and nutrition brand owner.

The company has enjoyed strong growth over the past decade, today employing more than 7,000 people and posting revenues of £1.14 billion in 2019. The company’s operations now span the entire product and customer journey from product development and manufacturing, to content creation, hosting and digital commerce.

THG’s IPO is the largest tech IPO in the UK in the last 5 years and one of the top 5 UK tech IPOs of the decade. It’s also among the top 15 largest tech IPOs from Europe in the last 10 years.*

We believe this is an incredibly important moment for London and for European tech more broadly.

In the past, many successful European tech companies chose to move their HQs to the US, raise future rounds from US growth investors and then list on Nasdaq or NYSE.

However, the notion that tech companies need to move their headquarters and list outside of Europe to be successful now no longer holds true. THG is a great example of this new trend – the team was born and bred in Manchester, raised initial capital from European sources and then, as the company scaled, directly tapped into a global investor base through a London listing.

Balderton has been represented on THG’s board since 2010, with Managing Partner Bernard Liautaud joining the board in 2017.

Read his perspective on THG, and on the company’s remarkable CEO and Co-Founder Matt Moulding here.

Read the case study from the London Stock Exchange here.

Matt Moulding founded THG in 2004.

*Source: Pitchbook

Categories: News

Tags:

Euronext and CDP Equity Confirm Exclusive Talks with LSEG to Acquire Borsa Italiana

Cdp Equity

Amsterdam, Brussels, Dublin, Lisbon, Oslo, Paris and Rome – 18 September 2020 –

Euronext and CDP Equity (“CDPE”, 100% owned by Cassa Depositi e Prestiti), confirm they have entered into exclusive talks with London Stock Exchange Group plc (“LSEG”) to acquire Borsa Italiana group, together with Intesa Sanpaolo. There can be no certainty that this will lead to a transaction.

The proposed combination of Borsa Italiana and Euronext would create a leading player in continental European capital markets. This transformational project would position the newly formed group to deliver the ambition of further building the backbone of the Capital Markets Union in Europe, while at the same time supporting local economies.
Italy, through Borsa Italiana, would become the largest revenue contributor to the enlarged Euronext group. As a new major country in the Euronext federal model, Italy would be represented at group level of Euronext governance by Italian representatives, in the Reference Shareholders, the Supervisory Board, the Managing Board and the College of Regulators supervising Euronext group’s activities.
If the discussions lead to the successful completion of the transaction, and as part of the partnership entered on 11 September 2020 (1), CDP Equity and Intesa Sanpaolo would join the existing group of Euronext long-term Reference Shareholders (2) through the subscription of a reserved capital increase, with CDPE acquiring a stake in line with those held by the largest reference shareholders of Euronext, and having a representative at the Supervisory Board of Euronext. A second Italian candidate would be proposed as an independent member of the Supervisory Board and would become the Chairman of the combined group. Consob would be invited to join Euronext’s College of Regulators, becoming part of the supervision of Euronext at group level pari passu with other European regulators with a rotating chair every semester. Direct regulatory oversight of Borsa Italiana would remain unchanged allowing Consob and Banca d’Italia to continue directly supervising Borsa Italiana’s activities.

Borsa Italiana would maintain its current functions, structure and relationships within the Italian ecosystem and preserve its Italian identity and strengths. The Italian CEO of Borsa Italiana would join the Managing Board of Euronext. The CEO of MTS would join the extended Managing Board, alongside the other key leaders of large business units and key central functions of Euronext, with group-wide responsibilities for fixed income trading. Borsa Italiana’s knowledge, expertise and understanding of the specific features of the Italian market would be a fundamental element of enrichment for Euronext, and would be valued and preserved. The combined group would strengthen Borsa Italiana as the go-to venue for listing and trading in Italy and continue to develop their programmes to facilitate the access to equity financing for companies, with a specific focus on SMEs.
Key businesses and central functions of the new group would be based in Milan and Rome. In particular, MTS, which operates interdealer, Dealer-to-Client and Repo markets, primarily for European Government Bonds, with a focus on Italian markets, would become the group’s European Center of Excellence for fixed income trading. Cassa di Compensazione e Garanzia S.p.A. (“CC&G”) would be the clearing house within the combined entity and would become a key pillar of the enlarged Euronext’s post-trade strategy. In addition, Monte Titoli S.p.A., the Italian Central Securities Depository (“CSD”), offering issuance, settlement and custody services would become the largest CSD within the Euronext group, becoming a key contributor to Euronext’s CSDs ambition. The leadership of group finance function would be located in Milan.
Euronext is committed to maintaining an investment grade credit rating and its robust financial structure. The potential transaction would be financed through a mix of (i) existing available cash, (ii) new debt and (iii) new equity in the form of a reserved capital increase to CDPE and Intesa Sanpaolo and a rights issue to Euronext’s shareholders.

The terms of any transaction remain subject to the three partners’ Managing Board and Supervisory Board approvals and there can be no certainty that a transaction will take place. Should the parties enter into binding agreements, any potential transaction will be dependent upon the outcome of the European Commission’s review of the Refinitiv transaction and that transaction closing in accordance with its terms, and will be subject the approval of Euronext’s shareholders, regulatory approvals, and other customary conditions.
A further announcement will be made as and when appropriate.

(1) Please refer to the press release published on 11 September 2020, available at: https://www.euronext.com/fr/node/1667751
(2) For more details about Euronext’s reference shareholders, please refer the 2019 Universal Registration Document available at https://www.euronext.com/en/investor-relations/financial-information/financial-reports

 

Categories: News

Tags:

TowerBrook announces sale of ICS to Onex Corporation

TowerBrook Capital Partners today announces that it has closed the sale of Independent Clinical Services (“ICS”) to Onex Corporation (“Onex”).

ICS provides specialised staffing, workforce management solutions and managed services to the healthcare, social-care and life sciences sectors internationally. Active across four continents, the company plays a vital role in private and public healthcare systems, providing solutions to address the structural imbalances between workforce supply and demand, and delivering preventative care and community services that support hospitals and other healthcare providers, as well as the clinical activities of life sciences companies.

TowerBrook will re-invest a portion of its proceeds from the sale of ICS back into the company and looks forward to partnering with Onex and the ICS management team to support the company in its future growth and development.

Categories: News

Tags:

Stirling Square Capital Partners’ Fourth Fund Invests in DOCU Nordic in Partnership with TA Associates

TA associates

London – Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announced an additional investment in portfolio company DOCU Nordic Group Holdings AB (“DOCU Nordic” or the “Company”) in partnership with TA Associates, a leading global growth private equity firm.

TA Associates will acquire a significant minority stake in the Company from Stirling Square’s Third Fund alongside Stirling Square’s Fourth Fund, which becomes the majority shareholder in DOCU Nordic.

Headquartered in Ljusdal, Sweden, DOCU Nordic is the leading provider of business intelligence and data analytics services within the construction, real estate and healthcare markets in Scandinavia, Central Europe and Iberia.

During Stirling Square’s Third Fund’s ownership, DOCU Nordic substantially developed its product offerings and capabilities while expanding its geographic reach. The Company recently announced the acquisition of Vortal in Portugal, which will add strategic e-tendering capabilities and a presence in Iberia. The new investment is the latest step in DOCU Nordic’s aim to create the leading construction technology and construction management eco-system in Europe, with significant opportunity for future buy-and-build activity.

Henrik Lif, Partner of Stirling Square, commented, “We believe that DOCU Nordic is an outstanding business that provides business critical and high-value services to a broad customer base. We are delighted to continue our investment journey with the Company in partnership with TA Associates. DOCU Nordic has demonstrated industry leading innovation in the construction, real estate and healthcare sectors. With the recent acquisition of Vortal in Portugal, the Company takes a further step geographically with the leading public e-tendering platform in Southern Europe. We look forward to continuing our work with senior management on organic growth and buy-and-build opportunities across Europe.”

Naveen Wadhera, Managing Director of TA Associates, said, “Given our focus on partnering with market leading, profitable and growing businesses, DOCU Nordic offers a compelling investment opportunity for TA. We see particular opportunity to help accelerate the Company’s growth and to expand both product offerings and geographic reach through accretive acquisitions. We are excited to partner with Stirling Square and DOCU Nordic’s management team to help build additional value for the Company.”

Stefan Lindqvist, CEO of DOCU Nordic, added, “We are delighted to have the opportunity to further build on the past three years of partnership with Stirling Square, and we welcome TA Associates, an experienced global investor in the technology sector, as a new partner. We look forward to working closely with both owners as we open a new chapter in DOCU Nordic’s success story.”

Mr. Henrik Lif, Mr. Ben Hopper and Mr Raphael Mukomilow of Stirling Square and Mr. Naveen Wadhera and Mr. Max Cancre of TA Associates will serve on the DOCU Nordic Board of Directors.

About Stirling Square Capital Partners
Stirling Square Capital Partners was established in 2002 as a pan-European private equity firm to pursue transformational change investments in mid-market companies with enterprise values of between €50 million and €500 million. The firm manages €2.5 billion across three active funds on behalf of a global and diverse investor base.

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 $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

About DOCU Nordic
DOCU Nordic is the leading provider of business intelligence and data analytics services within the construction, real estate and healthcare markets in Scandinavia, Central Europe and Iberia.

 

Categories: News

Tags:

SHIFT Invest raises EUR 70 Million for the largest Dutch impact venture capital fund

Shift Invest

SHIFT Invest raises EUR 70 Million for the largest Dutch impact venture capital fund

 

Today, SHIFT Invest announced that it has attracted an additional EUR 23 Million in the second close of its new VC fund SHIFT III. SHIFT Invest’s 3rd impact fund has been oversubscribed and is more than double the size of its predecessor fund.

 

 

The need for disruptive technologies is ever growing

The unprecedented pressure we humans are putting on biodiversity and the way we are changing the Earth’s climate, needs to be drastically limited. We need many forms of solutions, coming from academia, governments, international institutions and from businesses. New ways of thinking and disruptive technologies are key and part of the required actions. However, to bring technology solutions to the market and scale them to create significant impact, capital is required. SHIFT III, together with all Dutch technical Universities and the Dutch research institute TNO, selects the most promising technologies led by ambitious and high performing teams. SHIFT is an early stage investor and typically invests in concept stage, Seed and Series A rounds. SHIFT III also backs its portfolio companies in larger follow-on funding rounds (Series B and C) until exit.

Accelerating ‘tough technologies’ together with a broad range of investors

SHIFT III was created to accelerate companies disrupting the agro-food, biobased or environmentally high burden value chains. A successful first close last February included commitments from cornerstone investor Rabo Corporate Investments, family offices, Dutch regional development funds, Wageningen U&R and other universities as well as successful startup entrepreneurs who were backed by our previous funds. Half a year down the road, SHIFT welcomes new investors such as EIF and Corbion in order to back more ambitious entrepreneurs and create more impact. The European Investment Fund encourages investments in SHIFT’s focus areas and has put a clear commitment to the fund for the coming years. With its contribution, SHIFT III has become the biggest impact investor of its kind in the Netherlands.

Alain Godard, Chief Executive of the EIF, stated: “Climate change is on top of the agenda also for the financing world. The European Investment Fund fully supports the development of a European environmentally-conscious VC ecosystem, which can stimulate the emergence and market introduction of groundbreaking innovation with a positive and fundamental impact on climate and the environment. Such an ecosystem could significantly contribute to societal and economic change.”

Industry and family offices turning more and more towards meaningful investments

“We are seeing an increasing amount of family offices and corporates realizing that their contribution is needed for the urgent shift to a different and circular economy”, says Florentine Fockema Andreae, partner at SHIFT Invest. Partnering with Corbion, a new investor in the fund, provides synergies within the framework of industry knowledge and supporting early stage innovation. “At Corbion, addressing climate change is a business opportunity. We are very excited to join this impact focused innovation platform as this fits seamlessly with our Advance 2025 strategy that is focused around preserving what matters. Open innovation is essential in the transition toward a world in which our planet’s natural boundaries are respected”, says Marcel Wubbolts, Chief Science & Sustainability Officer at Corbion.

Largest seed & early stage impact investor in the Netherlands

SHIFT Invest has been an impact investor long before ’impact investing’ emerged as an industry itself.  In 2009, SHIFT started its first impact fund and invested in, among others, Protix, ChainCraft and Vandebron. SHIFT’s professional fund management can build on long lasting relationships, years of experience in venture capital, a strong reputation and many good and a handful of bad practices. This is why so many investors have committed to the fund: to make a difference and contribute to our shared impact goal of ‘Turning investments into impact’.

Categories: News

Tags:

Sandbäckens acquires Johanssons VVS i Ängelholm

Segula

18 September, 2020

Sandbäckens strengthens its position in the Northwestern Skåne region through the acquisition of Johanssons VVS i Ängelholm AB. Sandbäckens is already established in the local market through the subsidiary Sandbäckens Rör i Björe i Halmstad AB.

Johanssons VVS was founded by Stefan Johansson in 1998 and is a full-service provider within HVAC, specializing in district heating, heat pump installations as well as heating & sanitation contracts for new builds, rebuilds and extensions.

Sandbäckens Rör i Bjäre Halmstad AB, established in 2015, has had a successful growth journey since its inception. The company has a turnover of SEK 40 million and 20-25 employees in its two offices in Grevie and Halmstad. The acquisition of Johanssons VVS i Ängelholm is an important next step to continue the successful growth journey.

“We are very pleased with the acquisition of Johanssons VVS. The company is well managed and has a well-established reputation in the region. The acquisition strengthens Sandbäcken’s presence in southwestern Sweden and is a solid platform for continued profitable growth in the region” says Marcus Planting-Bergloo, Managing Partner, Segulah.

 

For further information: please visit www.sandbackens.se or contact:

Marcus Planting-Bergloo, Managing Partner, Segulah Advisor AB,  +46 70 229 11 85, Planting@Segulah.se

Tobias Ålund, VD, Sandbäckens Rör i Bjäre Halmstad AB +46 70 785 23 80, tobias.alund@sandbackens.se

Categories: News

Tags:

Folmer Equity Fund II invests in Donier Gastronomie Oy

Folmer

Donier Gastronomie Oy strengthens its business by becoming a portfolio company of Folmer Equity Fund II Ky, a fund managed by Folmer Management Oy. The founderof the company, Alexandre Donier, will continue as the Managing Director and shareholder of the company with the aim of building, together with the staff, the country’s leading food wholesaler with a comprehensive offering.

Since 2003, Donier Gastronomie has supplied high-quality ingredientsfrom their European producers to quality-conscious restaurant and retail clients.The company is specialized in the import and wholesale of dairy and poultry products.In addition, it provides a wide range of dry goods, meats and processed meat products. Donier Gastronomie offersits customers a transparent and traceableproduct chain as well as aresponsible service concept that meets the customer’s needs.The company has premises in Helsinki, Tampere andTurku.In the future, Donier Gastronomie, already known as high-qualityand innovative wholesaler,will strive for an even more significant position in the market.The company reported revenue of ca. 8 MEUR for the fiscal year that ended in 2020, and it currently employs 16 people.The owners of Donier Gastronomie Oy will staywiththe company as minority shareholders.

For more information:

Managing Director, entrepreneur AlexandreDonier, Donier Gastronomie Oy, tel.+358 44033 0028, alexandre.donier@doniergastronomie.fi(in English)

Managing Director, Partner Sami Tuominen, Folmer Management Oy, tel.+358 40 708 4905, sami.tuominen@folmer.fi

Donier Gastronomie Oy is a Finnish wholesaler of high-quality food products specializing in the import and wholesale of dairy, meat, seafood and poultryproducts.

www.doniergastronomie.com

Folmer Management Oy is a Finnish private equity company investing in Finnish SMEs. Folmer creates value through active development work.

Folmer provides companies with support and professional experience –a requirement for success.www.folmer.fiFolmer Equity Fund II Ky benefits from the support of the European Union under the Equity Facility for Growth established under Regulation (EU) No 1287/2013 of the European Parliament and the Council establishing a Programme for the Competitiveness of Enterprises and small and medium enterprises (COSME) (2014-2020).Businesses can contact selected financial institutions in their country to access EU financing: www.access2finance.eu.

Categories: News

Tags:

Unity “upping its game” with NYSE IPO

Gp Bullhound

Unity was listed on the NYSE today under the symbol “U”. GP Bullhound, investor through Fund IV, congratulates the management and founding team for this remarkable achievement.

Credits TimWijers

Based in San Francisco, Unity is the world’s leading gaming and real time 3D development platform. Its engine powers more than 50% of all games across mobile, console and PC, with approximately three billion Unity developed apps downloaded each month.

GP Bullhound Fund IV invested in Unity in 2018 and has been an active shareholder ever since, leveraging the global network, advisory services and sector expertise of the wider organization. The firm has helped Unity identify bolt-on M&A opportunities and raise its profile through a number of research reports and events.

The relationship with the founders and management team was built over many years. As part of a thematic-driven thesis, the fund identified Unity as a category winner in the $100 billion+ gaming market. With millions of developers using Unity’s engine daily, the company’s positioning is unique and of high strategic value.

Per Roman, Co-Founder and Managing Partner at GP Bullhound, commented: “Unity is one of those extremely rare assets, powering mobile game development and beyond for decades to come. I would like to congratulate John Riccitiello, David Helgason and the rest of the team for this successful milestone. We are proud to be shareholders in this exceptional business.”

Enquiries

For enquiries, please contact:

Per Roman, Managing Partner

per@gpbullhound.com Alec Dafferner, Partner

alec.dafferner@gpbullhound.com Alon Kuperman, Executive Director

alon.kuperman@gpbullhound.com

About GP Bullhound

GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit

Categories: News