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Ardian announces its acquisition of Finaxy, a french leader in insurance brokerage, from Equistone

Ardian

Paris, July 30th, 2020 – Ardian, a world leading private investment house, today announces that it has acquired a majority stake in Finaxy, a French multi-specialist B2B and B2C insurance broker, from Equistone Partners Europe, a leading European mid-market private equity firm.

Founded in 2009 under the leadership of Erick Berville, Finaxy has become a top 10 insurance broker in France following Equistone’s acquisition of a majority stake in the Group in 2014. With a strategic positioning focused on B2C niches and specific B2B business expertise, the Group has successfully leveraged its know-how to build a third offering dedicated to insurers and bank insurers. Since its inception, the Group has delivered strong organic growth and an active buy-and-build strategy, with 27 acquisitions in France, two of which took place in 2020.

In the current challenging market environment, Ardian Expansion has remained focused on growing companies both organically and through build-ups. With the support of Ardian, Finaxy plans to accelerate its buy-and-build strategy and strengthen its leading multi-specialist positioning.

Alexis Lavaillote, Managing Director in the Ardian Expansion team, said: ”Knowing this sector quite well, we were convinced by Finaxy’s multi-specialist positioning and its potential for organic growth across its three businesses. Under the leadership of Erick Berville, Finaxy has also been a key player in the consolidation of a still fragmented market and we will continue to support and accelerate this external growth policy. We are delighted to support Erick and his teams who, beyond their performance, have demonstrated agility and a strong entrepreneurial culture.”

Erick Berville, Founder and CEO of Finaxy, added: “The Group Management and I would like to thank Equistone for the past six years. This close teamwork has enabled us to achieve common goals while respecting Finaxy’s human and entrepreneurial values, and to smartly position the group for strong and ambitious development. We have chosen to continue this journey with Ardian and we are delighted to welcome them. We share this DNA and it will enable us to pursue and accelerate our organic and external growth momentum. You can’t stop dreaming while you’re on the move.”

Guillaume Jacqueau, Managing Partner at Equistone, concluded: “We are proud to have worked with Finaxy for more than six years and to have played our role as a strategic partner. Finaxy’s teams have done a remarkable job in expanding the product offering and developing new niche markets through organic and external growth. The Group has become one of France’s leading independent brokers and we are convinced that Finaxy is well positioned to continue consolidating its leading position in the future.”

ABOUT FINAXY GROUP

Created at the beginning of 2009 by Erick Berville, FINAXY Group is today one of the French leaders in insurance brokerage. FINAXY Group is one of the leading French insurance brokers and has joined the closed club of the top 75 brokers in the world, positioning itself as a “multi-specialist” broker. Structured around three specialized divisions (Corporate, Consumer (niche markets) and Solutions (major strategic partnerships)), the Group is developing its activity in specific market sectors with high added value. FINAXY Group continues to base its development half on organic growth and half on external growth.

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ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$100bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 670 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT EQUISTONE

Equistone is an independent investment firm wholly owned and managed by its executives. The company is one of Europe’s leading investors in mid-market buyouts with a strong, consistent track record spanning over 40 years, with more than 400 transactions completed in this period. Equistone has a strong focus on change of ownership deals and aims to invest between €25m and €200m+ of equity in businesses with enterprise values of between €50m and €500m. The company has a team of over 40 investment professionals operating across France, Germany, the Netherlands, Switzerland and the UK, investing as a strategic partner alongside management teams. Equistone is currently investing its sixth buyout fund, which held a final closing at its €2.8bn hard cap in March 2018.
Equistone Partners Europe is authorised and regulated by the Financial Conduct Authority and Equistone Partners Europe SAS is duly registered with the Autorité des Marchés Financiers.

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LIST OF PARTIES INVOLVED

  • Ardian

    • Alexis Lavaillote, Arthur de Salins, Stéphan Torra, Leslie Parmast

  • Buyers Due Diligence

    • M&A: Raphaël Financial Advisory (Benoit O’Mahony, Maxime Berthoux, Tristan Cossec)
    • Strategic: BCG (Philippe Removille, Benjamin Sarfati, Benjamin Entraygues, Chloélia Auffret)
    • Digital: BCG Platinion (Nicolas Levillain)
    • Financial: KPMG (Benjamin Tarac, Sophie Bougerolle)
    • Tax, legal and social: KPMG (Xavier Houard, Florence Olivier, Albane Eglinger, Frédéric Martineau)
    • Corporate lawyer: Latham & Watkins (Olivier du Mottay, Bénédicte Bremond, Alexandre Magnier)

  • Equistone

    • Guillaume Jacqueau, Grégoire Châtillon, Julie Lorin

  • Seller Due Diligence

    • M&A: Lazard (François Guichot-Pérère, Jean-Philippe Bescond)
    • Seller lawyer: Goodwin (Thomas Maitrejean, Chloé Vu Thien)
    • Management lawyer: Jeausserand (Erwan Bordet)
    • Management Advisor: Callisto (Charles de Rozières, Tancrède Caulliez)
    • Strategic DD: Roland Berger (Christophe Angoulvant)
    • Financial DD: EY (Cyril de Beco, Damien Buot de l’Epine, Sandra Guerin)
    • Legal and social DD: EY
    • Tax DD: Arsene Taxand

PRESS CONTACTS

ARDIAN / Headland

VIKTOR TSVETANOV

VTsvetanov@headlandconsultancy.co.uk +44 207 3435 7469

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Building end-to-end eCommerce and advertising solutions

Gp Bullhound

GP Bullhound acted as the exclusive financial advisor to Orca Pacific on its intended merger with MightyHive, a fully-owned subsidiary of S4 Capital PLC.

Founded in 2008 by John Ghiorso, Orca Pacific is a market leading full-service Amazon agency and boutique consultancy that helps top consumer brands optimize their customer journey and grow their Amazon business through a combination of expertise and industry-leading technology. The company employs over 40 former Amazonians and retail industry experts and partners with clients including Reebok, Uni-ball, Godiva, Del Monte and Kenroy Home.

The deal builds on S4 Capital’s existing Amazon relationship, equipping teams with an end-to-end eCommerce offering, including retail management, advertising, and content on Amazon’s platform,  which can bridge the gap between media, creative, and measurement more broadly to deliver additional expertise and services capabilities for SMB, Mid-Market and Enterprise clients.

John Ghiorso, CEO and Founder of Orca Pacific, said: “By teaming up with MightyHive, Orca Pacific’s existing bench of advanced Amazon experts is now positioned to offer global capabilities, along with expanded data, creative and media solutions to clients. GP Bullhound was invaluable in helping us navigate through this process and we couldn’t be more excited about the new partner we’ve found in MightyHive and S4 Capital.”

Alec Dafferner, Partner at GP Bullhound, said: “Integrating with Orca Pacific will allow MightyHive to offer best-in-class eCommerce and Marketplace solutions to its clients. We look forward to following their progress as they continue to expand their capabilities and offering.”

The transaction is further testament to GP Bullhound’s global expertise in advising category leaders in the Digital Services sector, with 19 transactions completed in this sector in the last 24 months including the majority investment in Jellyfish by Fimalac Group, and the sales of Oliver to You & Mr. Jones and Filter to Merkle, among many others.
Inquiries

For inquiries, please contact:

Alec Dafferner, Partner

ALEC.DAFFERNER@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 www.gpbullhound.com.

GP Bullhound Inc. advised on this transaction.

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iObeya Raises $17 Million to Revolutionize Visual Management and Expand U.S. Footprint With New Seattle Office

Fortino Capital

More than 350,000 workers around the world use iObeya as global demand for enterprise-grade visual collaboration software explodes

July 23, 2020 – MASSY, France – iObeya, a leading provider of Enterprise Visual Management software, today announced that it has raised $17 million in a second round of funding from Red River West with participation from Atlantic Bridge Capital and Fortino Capital Partners, bringing the total raised to date to $20 million. In addition to advancing the development of its platform, the new financing will accelerate the company’s expansion into the United States, including the opening of a Seattle headquarters led by Cisco veteran Tim McCracken. The company also announced that it has recruited Rick Tywoniak, an expert in the field of visual collaboration, as Vice President of Marketing.

While iObeya was widely used prior to the pandemic — hundreds of thousands of workers already use iObeya every day — the rapid and unprecedented shift to remote work has fueled skyrocketing demand for its platform, which is up by more than 400% since January. iObeya is ideal for large organizations with distributed teams; those that have complex R&D, engineering, and manufacturing processes; and those that utilize Lean and Agile methods. A growing number of forward-thinking multinational companies depend on iObeya for their Visual Management and their visual collaboration including: Airbus, Thales, Volvo, Philips, Cartier, Axa, Eli Lilly and Company, Western Digital, Kimberly-Clark,  Danaher, Sanofi, and many more.

“A decade or more ago, digital whiteboarding tools ushered in an era of visual collaboration. Today, iObeya represents a new vanguard that is poised to define the era of Visual Management,” said Luc-Emmanuel Barreau, Partner at Red River West. “iObeya’s momentum and ‘stickiness’ among leading global brands proves that there is significant — and growing — demand for enterprise-grade visual collaboration solutions that are designed on Lean and Agile principles, that fuel innovation and drive business performance. iObeya’s team has a proven track record and we’re excited to lead this investment as the company expands its global footprint, notably in the U.S.”

Enterprise Visual Management – The Next Generation of Visual Collaboration for Lean and Agile Companies

Companies around the world are increasingly deploying Lean and Agile management methodologies in order to improve overall business performance and competitiveness. Visual Management is a core component of these transformative methodologies, yet many companies find it difficult to scale enterprise-wide: valuable knowledge ends up on Post-It notes, whiteboards, or other information silos such that it cannot be securely stored or shared. Existing visual collaboration and digital whiteboarding tools are limited in enterprise functionality and are ineffective at reproducing a company’s unique Lean rituals and Agile ceremonies at scale, creating disconnectedness across teams and reducing their ability to manage projects effectively. As a result, many companies must either develop their own software in-house, which is both time-consuming and costly, or attempt to piece together multiple tools.

“Today’s workers know that advancing a unified vision and achieving common goals through teamwork — especially when working remotely — is essential. That’s why companies are striving to provide their employees with a human-centric, virtual environment in which they can innovate, grow, and contribute to the success of the business,” said Cyril Daloz, co-founder and CEO of iObeya. “iObeya is an enterprise platform that empowers teams to create secure, configurable virtual rooms to support all their Visual Management practices. Users can share information and ideas, collaborate with colleagues in real time, and track the progress of projects according to Lean and Agile principles. Our solution is particularly well-positioned to lead in these unprecedented times. We look forward to using this new investment to deliver a more visual and collaborative management approach, centered on human values, to large organizations as we expand our business in the U.S. and around the world.”

As the leader in Visual Management for Lean and Agile companies, iObeya is at the heart of business processes and helps businesses achieve operational excellence. iObeya accelerates the deployment of Lean and Agile across large organizations by digitizing all key Visual Management practices: industrial product lifecycle management, manufacturing operational excellence, software design and development, continuous improvement of business performance, and much more.

With the iObeya platform, enterprise users can:

  • Go beyond the limitations of paper and boost innovation with real-time, collaborative, visual workspaces — Each iObeya room, designed to be a digital reproduction of a real-world “obeya” room, is a virtual workspace dedicated to visual collaboration, accommodating up to 200 users and 40 whiteboards. Users and teams enjoy an immersive, co-creation experience with a wide range of fully-configurable digital tools to replicate and enhance meetings that are traditionally conducted with paper, Post-It notes, and whiteboards.
  • Incorporate Lean and Agile principles into business processes — Seamless integrations with Atlassian Jira and Microsoft Azure DevOps help companies unlock the full potential of Application LifeCycle Management (ALM) and strengthen Scaled Agile Framework (SAFe®) ceremonies. iObeya is integrated with Microsoft Office 365, enabling users to directly access their visual workspace from Microsoft Teams. iObeya also contributes to the digital transformation and operational excellence of factories by providing performance management (SQCDP) for Industry 4.0 applications.
  • Increase participation, transparency, and accountability across working groups — With iObeya, teams have a single online location for tracking ideas, progress, and results so that projects stay on track and nothing falls through the cracks. Intuitive activity cards enable users to sort tasks in a variety of ways: by project, deadline, owner, and other configurable views.
  • Leverage cloud-based SaaS or deploy onsite for total data governance — iObeya offers companies the choice to use its secure SaaS service or easily deploy an on-premise version.
  • Ensure the security of corporate data — iObeya is the only Visual Management software to be ISO/IEC 27001:2013 certified by BSI, the leading international security standards organization. This certification confirms that iObeya meets the most stringent level of IT governance by large enterprises.

“Today, more than 10,000 daily users benefit from a single enterprise platform for their Visual Management practices. iObeya allows our teams to be perfectly aligned and to avoid waste all the while benefiting from a significant increase in efficiency for the organization on a global scale: less travel, fewer emails, and above all, more time for product development,” said Philippe Colombo, Head of Knowledge Management and Visual Management at Volvo. iObeya is a must for any global company going through a Lean transformation”.

About iObeya

Founded in 2011, iObeya is the enterprise platform dedicated to all Visual Management and collaboration practices. iObeya enables distributed teams to perform their rituals and ceremonies as though face-to-face and in a secure virtual environment, while upholding the principles of Lean and Agile methodologies. More than 350,000 workers around the world use iObeya daily to improve their company’s performance as part of their major strategic Lean, Agile, digital and cultural transformations. iObeya is backed by leading venture capital firms including Red River West, Atlantic Bridge Capital, and Fortino Capital Partners. For more information, please visit iobeya.com.

About Red River West

Red River West is a unique cross-border VC firm which promotes the international take-off of outstanding EU Tech companies by providing significant financial firepower and game changing hands-on support in EU & the US. RRW focuses on highly disruptive growth-stage companies with investment tickets of €5 million to €30 million. RRW was initiated in 2017 by Artemis – the Pinault family holding company – and Alfred Vericel – the co-founder of Purch, a digital media group leader in the U.S.

About Fortino Capital Partners

Fortino Capital Partners is a European enterprise software investor, managing a €240 million growth private equity fund and two venture capital funds for earlier stage software opportunities. The firm has offices in Antwerp and Amsterdam. Fortino Capital’s investment portfolio includes MobileXpense, Efficy CRM, Odin Groep, Tenzinger, Maxxton, LetsBuild, Teamleader, among others. For more information, please visit
www.fortinocapital.com.

About Atlantic Bridge Capital

Atlantic Bridge Capital is a Global Growth Technology Investment Firm with over €950 million of assets under management across seven Funds, investing in Deep Tech growth stage technology companies in Europe and the U.S. The firm has offices and investment teams based in Palo Alto, London, Dublin, Munich, and Paris.

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3i-backed bioprocessing consumables platform acquires Sani-Tech West, Inc., significantly expanding the combined group’s global footprint and market-leading product portfolio

3I

3i-backed bioprocessing consumables platform acquires Sani-Tech West, Inc., significantly expanding the combined group’s global footprint and market-leading product portfolio

3i Group plc (“3i Group”) announces that its single use bioprocessing platform has acquired Sani-Tech West, Inc. (Sani-Tech West and subsidiaries SaniSure® and SureTech), a leading US-based manufacturer, distributor and integrator of single-use bioprocessing systems and components. Sani-tech West’s founder-owners, including majority owner Richard Shor, will remain with and continue to serve as key leaders of the combined business.

Founded in 1991 and headquartered in California, SaniSure® designs, develops, and manufactures single-use solutions for the bioprocessing industry including customized bottle assemblies, aseptic transfer systems, caps, flasks, tubes and clamps. The business has c. 170 employees and operates two facilities in Southern California. Its bottle assemblies provide a means of transfer, storage and sampling for vaccines and biological drugs. The company has longstanding customer relationships including with leading pharma and biotech customers. In addition to its own manufactured products, and unique IP, Sani-Tech West also distributes a variety of other related single-use products to its customers.

SaniSure® has experienced strong growth over the last several years, supporting key customers in the fast-growing biologics market, and in particular customers working on the development and commercialisation of monoclonal antibody, vaccine, and cell and gene therapy modalities with single-use technologies.

With this transaction, the combined platform will have robust manufacturing and cleanroom assembly operations in both North America and Europe, and will offer enhanced supply chain assurance to its customers as a result of its increasingly vertically integrated product portfolio, including PharmaTainerTM bottles and carboys, Cap2v8® solutions, aSURE® fittings, Bio-EaseTM clamps and a wide range of silicone and thermoplastic tubing solutions including Cellgyn® TPE tubing.  These products are offered independently and integrated into custom tube, bottle and bag assemblies that are used by customers in a variety of upstream and downstream applications.  The company will also have unique portfolio of products designed to serve cell & gene therapy applications, such as Mixed4Sure™ stirring solutions, cell perfusion products and other innovative products in development.

Richard Relyea, Partner, 3i commented: “We are excited to partner with Richard and his team, who have built a US market leader in single-use solutions for the biopharma industry.  This represents a transformational combination for both companies, delivering immediate scale and global reach and enhancing our combined product offerings, capabilities and ability to serve our customers.”

Richard Shor, Founder and CEO, Sani-Tech West added: “The combination of Sani-Tech West and the Cellon, Silicone Altimex and TBL segments that make up 3i’s bioprocessing platform has been a goal of mine for years. The companies’ product offerings are highly complementary and together we will continue to bring more novel, innovative solutions to our customers, as well as offering greater supply chain assurance and faster lead times. I look forward to continuing this journey of expanding our combined international footprint and executing our global growth strategy.”

Importantly, the combination of the two businesses will enhance the ability to serve COVID-19 related vaccine and therapeutics production, for both new and existing customers, with global assembly production capabilities and a robust suite of leading products and components. With three key technology platforms – PharmaTainer bottles and caps, elastomeric and silicone tubing, and novel fittings products – the business offers customers end-to-end customised fluid management solutions, from planning and design through scaled production. The business looks forward to continuing to serve its customers in high criticality bioprocessing applications.

-Ends-

 

Download the press release  

 

For further information, contact: 

3i Group plc

Silvia Santoro

Investor enquiries

 Tel: +44 20 7975 3258

Email: silvia.santoro@3i.com
Kathryn van der Kroft

Media enquiries

 Tel: +44 7721 886 304

Email: kathryn.vanderkroft@3i.com

 

About 3i Group

3i is an investment company with two complementary businesses, Private Equity and Infrastructure, specialising in core investment markets in Northern Europe and North America.

3i’s Private Equity team provides investment solutions for growing companies, backing entrepreneurs and management teams of mid-market companies with an EV typically between €100m – €500m. We back international growth plans, providing access to our network and expertise to accelerate the growth of companies across the consumer, industrial, healthcare and business and technology services industries.

For further information, please visit: www.3i.com

 

About Sani-Tech West

Founded in 1991, Sani-Tech West, through its business units SaniSure® and SureTech, is a leading manufacturer, marketer and distributor of products and components used in the manufacture of pharmaceutical and biotech drugs. Based in Camarillo, CA, the Company operates out of two facilities: a 28,000 sq. foot manufacturing plant with 2,200 sq. foot ISO Class 7 validated clean room, which also houses the Company’s offices, and a 43,000 sq. foot facility with a 5,500 sq. foot ISO Class 7 validated clean room and 2,500 sq. foot controlled environment for fabrication.

 

Regulatory information

This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group.

Bottle Assembly 2.png

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IK Investments Partners has reached an agreement to sell Aposan to Santé Cie group

Ardian

Lyon / Cologne / Hamburg / Paris / Frankfurt, 27nd July 2020 – Santé Cie Group, a leading company in the French home medical assistance (HMA) market – offering medico-technical equipment, consumables and services to patients at home – announces the acquisition of a majority stake in APOSAN, a leading German pharmaceutical homecare provider and ophthalmic compounder. The stake will be acquired from the IK Small Cap I Fund, which is advised by IK Investment Partners. The acquisition is welcomed by Ardian, Group HLD, UI Gestion and Santé Cie’s management team who welcome APOSAN’s management team as a future minority shareholder in the Group. Santé Cie is majority-owned by Ardian.

Founded in 1991, APOSAN is a leading specialised homecare provider in the field of outpatient parenteral antibiotic therapy, one of the fastest growing segments in the German home care market, as well as parenteral & enteral nutrition and ophthalmic injectables, covering the full homecare value chain from pharmaceutical compounding to care delivery. APOSAN is headquartered in Cologne, Germany, and serves over 15,000 patients per year.

In recent years, APOSAN has continued its successful growth strategy by rolling out its offering and new treatment areas to a growing patient base whilst investing significantly into its production capacity expansion, sales force and homecare specialists and increasing awareness of the advantages for patients, medical employees and healthcare systems of outpatient care in its core market segments.

Santé Cie’s internationalisation strategy is founded on a very attractive, well-managed and highly recognised platform in Germany. Santé Cie and APOSAN will build on their existing expertise and complementary offers to expand outpatient therapy indications and services. The Group will continue to innovate to improve the efficiency of care pathways in the face of new challenges posed by connected healthcare and telehealth.

Larbi Hamidi, Chairman of Santé Cie, said: “APOSAN boasts an entrepreneurial management team, highly-skilled employees and it represents a perfect addition to Santé Cie’s business. Its prime focus on perfusion and nutrition segments pairs exceptionally well with ours and we are impressed with the way APOSAN’s management has been able to build such a strong platform through autonomous growth. We at Santé Cie are very much delighted at the prospect of working together with APOSAN’s management and its employees, and supporting them in the next stage of their development through accelerating the company’s growth strategy.”

Rainer Schmitz, CEO of APOSAN, commented: “APOSAN has achieved strong growth over the past years and has made substantial investments in the Company. We would like to take this opportunity to thank IK Investment Partners for all their support, which enabled APOSAN to grow and expand its market position and offering. We now look forward to working with Santé Cie to further build on this success.”

Anders Petersson, Managing Partner at IK Investment Partners, said: “APOSAN has truly become the undisputed leader in the German pharmaceutical homecare market since we first partnered with the

Company in 2016. It has been a pleasure working with APOSAN and its dedicated management team and we wish them all the best on their continued journey.”

Nicolas Darnaud, Managing Director within the Ardian Buyout team in Paris, said: “We are extremely proud to support Santé Cie in its first acquisition, which marks the beginning of the company’s international growth journey. APOSAN has an excellent track record and its performance stood out during the Covid-19 pandemic. We believe that the complementary nature of Santé Cie’s and APOSAN’s offers will enable the development of new and efficient solutions in the European homecare market.”

Alexander Friedrich, Managing Director within the Ardian Buyout team in Frankfurt, added: “This acquisition in one of our core sectors highlights Ardian’s multi-local approach and our strategy to support the development of companies into undisputed leaders in their respective markets, widening their offering and geographic reach with transformational add-on acquisitions.”

The joint company will serve more than 180,000 patients annually, with revenues of €300m+ and 1,850+ employees throughout France and Germany.

The transaction remains subject to antitrust approval.

ABOUT APOSAN

Founded 1991 in Cologne/Germany, APOSAN is a leading niche pharmaceutical homecare provider. It covers the homecare value chain from individualised pharmaceuticals production through its own cleanroom facilities, enabling the provision of custom infusions and nutrition bags, to educating patients via its German wide network of nurses who train and support patients at home. Moreover, APOSAN produces patient-individual ready-to-use AMD (age-related macular degeneration) injectables used in ophthalmic surgeries.

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ABOUT SANTÉ CIE GROUP

Created in 2016, Santé Cie is the third largest home healthcare provider in France, through its two operating networks Elivie and Asdia. With the trust of healthcare professionals, the company supports over 160,000 home care patients, both children and adults, across France every day. It covers a wide range of therapeutic segments including perfusion, nutrition, insulin therapy, the treatment of Parkinson’s disease, respiratory assistance and wound treatment and healing. By means of a medical prescription, the Elivie and Asdia teams set up all equipment required at home for the care of patients with chronic or acute illnesses. By ensuring the home care pathway, training and patient support and monitoring, the teams provide solutions to simplify and secure patient care at home, in constant contact with prescribers and in coordination with their entourage and all participants in the care chain (pharmacists, nurses, physiotherapists, etc.). Santé Cie has over 1,700 employees across 80 agencies throughout France, through its Elivie and Asdia networks.

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ABOUT IK INVESTMENT PARTNERS

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, Benelux, and the UK. Since 1989, IK has raised nearly €13 billion of capital and invested in over 130 European companies.
Across its strategies, IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects.

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ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$100bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps

entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 670 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1.000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

LIST OF PARTIES INVOLVED

  • Sellside

    • IK Investment Partners: Anders Petersson, Ingmar Bär
    • M&A advisor: Alantra (Wolfram Schmerl, Christopher Jobst)
    • Legal and tax advisor: Renzenbrink & Partner (Ulf Renzenbrink, Marc Kotyrba)
    • Commercial advisor: Alvarez & Marsal (Georg Hochleitner)
    • Financial advisor: Ebner Stolz (Claus Bähre)

  • Buyside

    • Ardian: Yann Bak, Nicolas Darnaud, Alexander Friedrich, Nicolas Kassab, Matthias Straessle, Maxime Debost
    • Santé Cie: Larbi Hamidi, Alexandre Binetruy, Rémi Masson Regnault
    • Legal advisor: Weil, Gotshal & Manges (Barbara Jagersberger, Benjamin Rapp)
    • Commercial advisor: LEK (Stefan Schrettle)
    • Financial, tax and IT advisor: Eight Advisory (Murat Deniz, Jan Ole Burchert, Marc Bernstein)
    • Regulatory advisor: Clifford Chance (Peter Dieners)
    • Insurance advisor: Euro Transaction Solutions (Jürgen Reinschmidt)

PRESS CONTACTS

IK Investment Partners

Charles Barker Corporate Communications GmbH TOBIAS EBERLE

Tobias.Eberle@charlesbarker.de +49 69 79 40 90 24

ARDIAN / Headland

VIKTOR TSVETANOV

VTsvetanov@headlandconsultancy.co.uk +44 207 3435 7469

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CVC Credit Partners closes Apidos XXXIII CLO Fund

CVC Credit Partners has closed CLOs in both the U.S. and Europe in the last month

CVC Credit Partners (“CVC Credit”) is pleased to announce that it has closed Apidos XXXIII, a Collateralized Loan Obligation (“CLO”) fund totalling $400 million. This is the second CLO fund CVC Credit has closed in the last month, following the closing of Cordatus XVII in June. Together these funds total $720 million (€630 million) of new issuance and increase CVC Credit Partners global CLO asset under management to approximately $15.8 billion.

Adipos XXXIII, was arranged by Goldman Sachs and is CVC Credit’s second new-issue to close in the U.S. in 2020. As with previous Apidos CLOs, the fund is primarily comprised of broadly syndicated First Lien Senior Secured Loans.

Cordatus XVII is a €290 million European focused CLO arranged by Natixis. This was CVC Credit’s first European CLO closed in 2020, having completed three in 2019. European CLO assets under management now stand at c.$6.3 billion.

Gretchen Bergstresser, Global Head of Performing Credit at CVC Credit Partners, said: “Pricing and closing two CLOs in such quick succession is a great result, and all the more impressive in the context of the challenging economic conditions of the past few months. Both U.S. and European raisings have been a real team effort with our New York and London based teams working simultaneously across both CLOs.

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Ardian portfolio company Dedalus acquires DXC Technology’s healthcare software solutions division

Ardian

Dedalus strengthens its leading position in the healthcare IT sector at European and global level by operating in 40 countries worldwide

  • The deal is based on a strong complementarity in the sharing of the same methodologies and technologies for products development
  • The acquisition will enable Dedalus to accelerate the digital transformation of the healthcare ecosystem through its scaled R&D capabilities
  • Dedalus will employ over 5,500 people, with circa 2,000 solely in R&D, generating over 700 million euros in turnover
  • More than 3 billion clinical documents are produced globally each year by professionals using Dedalus solutions
  • Florence, 21 July 2020 – Dedalus Group, a leading international healthcare software provider, announces that it has reached a binding agreement for the acquisition of the Healthcare Software Solutions division of US-based DXC Technology Company (NYSE: DXC). DXC Technology is one of the world’s largest IT services companies. Dedalus Group is 75% owned by Ardian.

The acquisition firmly establishes Dedalus as a leading global player in the hospital and diagnostic software solutions sector. It now has a presence in over 40 countries, holding leading positions in major European countries, including Germany, Italy, the UK, France and Spain.

With this acquisition, the business will generate future total turnover of around 700 million euros, creating the world’s largest R&D platform for this sector.

DXC Technology’s healthcare software division provides clinical healthcare software solutions for national and regional authorities, hospitals, diagnostic laboratories, general practitioners and outpatients. The business already holds a leading position across the UK/Ireland, Australia, New Zealand and Spain, and also a significant position across Northern Europe, Latin America, Asia, the Middle East and North America. It covers all aspects of clinical decision-making processes, improving the ability for collaboration of all healthcare stakeholders in the care of patients.

The deal capitalises on significant synergies between the two companies that will allow Dedalus to expand its existing business in major European markets, expand into new markets, and establish a long time skilled management team led by Dedalus CEO Andrea Fiumicelli and Giorgio Moretti, Chairman of the Company.

Andrea Fiumicelli, CEO of Dedalus Group, commented: ”This acquisition allows us to make significant strides in becoming a true global player.  I am pleased to see the two companies sharing a common goal of catalysing the digital transformation of the global healthcare ecosystem. The healthcare industry is currently evolving significantly, and we look to tap into these changes and support the sector with our expertise and systems.”

Giorgio Moretti, Chairman of Dedalus Group, added: “The integration of DXC’s healthcare software solutions activities into Dedalus Group will accelerate our support and impact on more than 3 million healthcare professionals who operate thanks to our technologies”.

Yann Chareton, Managing Director Ardian Buyout, added: “Since our investment in 2016, we have supported Dedalus’ growth and development and are pleased to see the heights it has reached. Following the prior acquisition of the healthcare IT business of Agfa Group, this deal further enables Dedalus to make a decisive step in its consolidation strategy. We are extremely pleased to see such a significant goal achieved”.

Dedalus was assisted by UBS as financial advisor, CC as legal advisor, BCG for Strategic Due Diligence, KPMG for Accounting and fiscal Due Diligence and Techeconomy for Technical Due Diligence.

 

ABOUT DEDALUS

Founded in Florence in 1982 by the current Chairman Giorgio Moretti, Dedalus Group is the leading healthcare and diagnostic software provider in Europe and one of the largest in the world. The shareholding structure ensures stability and great financial capacity through the presence of Ardian, the largest private investment company in Europe and 4th in the world.
Starting in 2016, Dedalus has decided to accelerate its expansion strategy by targeting a growing demand for innovative and comprehensive ICT and Clinical transformation solutions. With the acquisition of Agfa Healthcare IT, Dedalus consolidates its leadership as pan-European player in healthcare software industry, with a leading position in Hospital IT (HCIS) and Diagnostic (DIS) in Germany, Italy and France, with a strong footprint in Austria, Switzerland, Spain, Belgium, China, Brazil and several locations in the Latin America, Middle East and Africa, reaching over 30 different countries. Today Dedalus employs over 3,500 highly skilled resources; it has the largest R&D software team in the sector in Europe with more than 1,100 people. Thanks to its undisputed cutting-edge portfolio of leading the new generation solutions, Dedalus covers the whole spectrum of needs for healthcare operators, supporting over 5000 hospitals and 5000 laboratories around the world.

Visit the website

ABOUT DXC TECHNOLOGY

DXC Technology Company (NYSE: DXC) helps global companies run their mission critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. With decades of driving innovation, the world’s largest companies trust DXC to deploy our enterprise technology stack to deliver new levels of performance, competitiveness and customer experiences. Learn more about the DXC story and our focus on people, customers and operational execution by visiting their website.

visit the website

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$100bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 670 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1.000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Press contacts

DEDALUS / Image Building

CRISTINA FOSSATI, LUISELLA MURTAS, ANNA PIRTALI

ardian@imagebuilding.it +39 02 8901 1300

ARDIAN / Headland

GREGOR RIEMANN

griemann@headlandconsultancy.com +44 (0)20 3435 7483

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DIF Capital Partners acquires a stake in French digital infrastructure company IELO

DIF

DIF Capital Partners (“DIF”), through its DIF Core Infrastructure Fund II (“DIF CIF II”), is pleased to announce that it will invest in the French independent fiber optic operator IELO with the aim of contributing to its network roll-out in the coming years. DIF will enable IELO to build a nationwide footprint and become a leading fiber optic infrastructure operator in France, while remaining fully independent and a pure infrastructure player.

Resulting from the merger between IELO and LIAZO in 2016, the IELO group is positioned as a key player in the telecommunications sector in France. IELO’s fiber network is the highest quality urban optical network equipped with the latest technologies. It currently represents nearly 2,000 km of fiber, covering 30 metropolitan areas and connects more than 1,000 companies. Due to the significantly growing digitalisation requirements of companies the market is rapidly expanding. DIF’s capital injections will further accelerate the strong development of the fiber network of IELO in France.

As a long-term shareholder, DIF and IELO founders plan to invest together €90 million over the next few years to triple the size of IELO’s network by deploying more than 4,500 km of fiber (increasing it to 6,500 km total) in 95 French cities and economic zones. This acquisition perfectly fits CIF II’s strategy to invest in high-quality telecom infrastructure businesses.

Arthur Fernandez IELO co-founder and CEO said: “IELO is now at a turning point in its development and the long-term support provided by DIF represents a tremendous accelerator to achieve our ambitions of scaling up the strategy we have been successfully implementing in recent years. We intend to consolidate our position as a key independent wholesale operator in the fiber optics business with the aim of expanding our French client base to further gain market share.”

Thomas Vieillescazes, partner and head of DIF France added: “DIF has been investing heavily in the telecommunications sector in Europe and North America for several years, particularly in projects related to data centers and fiber optics. This investment is therefore in line with our strategy of investing in the high-potential digital infrastructure market, especially in the growing B2B business. We believe IELO, being a dedicated wholesale infrastructure provider, and the only one with a nationwide development strategy, is a perfect fit for DIF CIF II: it’s a pure infrastructure play with a greenfield component, for which DIF will bring to bear its longstanding experience in the French market. We have particular trust in IELO’s managers and their teams and are delighted to support the group in its development to become a key player in a growing market.”

About IELO

The IELO group markets enterprise access products through offers exclusively for telecom operators (the so-called “wholesale only” market). Operating its own optical cable network, IELO has an extensive coverage area covering some thirty of France’s largest conurbations, i.e. 161 municipalities in 23 departments. Since 2014, IELO has been implementing a strong strategy of rolling out its own network through an investment plan and a sustained pace of deployment, in order to extend its position in France. To find out more: www.ielo.com

About DIF Capital Partners

DIF Capital Partners is a leading global independent infrastructure fund manager, with €7.5 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the telecom, energy and transportation sectors.
  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.

DIF has a team of over 140 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Thomas Vieillescazes, Partner; t.vieillescazes@dif.eu and Thijs Verburg, IR & BD; t.verburg@dif.eu.

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Universal-Investment acquires B2B online investment platform CAPinside

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Montagu

  • CAPinside offers a digital, artificial intelligence-based B2B portfolio for networking intermediaries such as IFAs with asset managers and fund initiators
  • The takeover is an important building block for Universal-Investment for offering fund initiators a wider range of distribution options for all customer groups and asset classes

Montagu portfolio company The Universal-Investment Group (“Universal-Investment”) has acquired CAPinside GmbH. CAPinside was formed in October 2018 and employs around 40 staff at its head office in Hamburg.

CAPinside is key to the success of Universal-Investment’s digitalisation and innovation plans and we are delighted to be jointly setting new standards for our customers.

Michael Reinhard, CEO, Universal-Investment

CAPinside is a B2B online investment platform for the investment market, focussing on fund marketing and sales initiation. It brings together intermediaries, in particular IFAs, with asset managers and fund initiators through algorithms generated using artificial intelligence, via high quality content and investment analyses as well as data-driven bespoke matching.

With around 90,000 users per month and almost 20,000 members, CAPinside is the fastest growing professional online investment platform in the German-speaking region and market leader in Germany. CAPinside is further diversifying its spectrum with future-orientated investment managers offering Blockchain-based investments.

Fund initiators benefit from the advancement to a comprehensive sales platform

“With CAPinside, Universal-Investment is further diversifying its distribution portfolio for fund initiators and managers. Over the coming months, we will also be investing heavily to offer our fund initiators distribution and cooperation possibilities; in this way, promising fund concepts will be able reach a wide range of investor groups,” says Katja Müller, Chief Customer Officer at Universal-Investment.

The acquisition is a key digital building block in creating a comprehensive, analogue and technological “single stop distribution platform” across all channels for every target group. It follows Universal-Investment’s takeover of labs, the IT data specialist and vendor of front office solutions for asset managers, in early 2019, which continues the company’s goal of becoming the leading European fund service platform and management company for all asset classes by 2023.

Michael Reinhard, CEO of Universal-Investment, explains: “Being able to reach investors online with digital formats and offerings, and with pinpoint accuracy, is becoming increasingly important in the fund industry. Asset managers and fund initiators are shifting unambiguously to distribution channels based on online platform offerings – with irrefutable benefits: precise segmentation of target groups and needs, measurability, 24/7 accessibility and lower costs. CAPinside is key to the success of our digitalisation and innovation plans and we are delighted to be jointly setting new standards for our customers.“

Philipp Schröder, founder and CEO of CAPinside says: “CAPinside is an example of how, even during the COVID-19 pandemic, intelligent, digital business models can grow significantly in less than two years, thereby generating added value for clients, users and fintech investors. Universal-Investment’s takeover allows us to make further investments to drive our expansive growth and benefit from the international fund service platform’s experience. CAPinside will continue to be an open platform for all asset managers.“

Besides the founders Philipp Schröder and Achim Denkel, a third managing director, Micha Grüber, will also remain at the helm and CAPinside will continue to operate as an independent brand. Dr. Jürgen Sehnert, Head of Strategy and Product Governance at Universal-Investment, will be appointed as an additional managing director to support the joint growth plans.

Montagu invested in Universal-Investment in 2017 and continues to support the company’s ambitious growth plans. In the past year, Universal-Investment has increased its assets under administration by €90bn to over €500bn.

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CVC’s Strategic Opportunities platform acquires majority stake in Genetic

CVC’s Strategic Opportunities platform acquires majority stake in Genetic

17 Jul 2020

CVC funds will be investing in partnership with the family of the founder

CVC Strategic Opportunities II today signed an agreement to acquire a majority stake in the Genetic Group (“Genetic”), a leading pharma CDMO business which focuses on the development and supply of products into the respiratory, ophthalmic and oncology therapeutic areas. CVC funds will be investing in partnership with the family of the founder of Genetic, Rocco Pavese, who will remain as CEO of the business and will lead the R&D initiatives.

Headquartered in Fisciano, Italy, Genetic is an integrated pharmaceutical company focused on the research, development, manufacturing, licensing and promotion of pharmaceutical specialties and medical devices. Its primarily expertise is in the development of respiratory and ophthalmology products which are delivered via unit-dose Blow-Fill-Seal technology, pressurised Metered Dose Inhalers, nasal sprays, and eye drop/collyrium technologies. Genetic’s products are commercialised by a network of blue chip pharma partners internationally as well as by its own distribution arm (Max Farma) in Italy, often under well-recognised local brand names. The company has sales in Italy and more than 20 countries globally, with over 50 marketed products.

Rocco Pavese, CEO and Founder of Genetic, and Francesca Pavese, Head of Business Development, said: “We are excited and proud to be partnering with CVC and look forward to working with them on a new chapter of organic and inorganic growth for our business, which will project the Genetic group into a new international dimension of technological innovation and value creation for the benefit of patients around the globe, safeguarding and developing, at the same time, employment in our country. We believe that CVC’s international network, experience and track record in Italy and in Healthcare, as well as the alignment of the Strategic Opportunities fund as a partner to families like ours, will help us deliver on these growth aspirations.”

Michael Lavrysen, Senior Managing Director of CVC Strategic Opportunities added: “The Strategic Opportunities platform invests in high-quality businesses with longer growth horizons, and the investment in Genetic fits perfectly within this strategy, especially with the partnership with the Pavese family. We look forward to supporting collaboration between Genetic and our existing portfolio company DFE Pharma, and leveraging CVC’s broader global network.”

Giorgio De Palma, Senior Managing Director of CVC Italy said: “We believe that Genetic has an excellent position in the respiratory and ophthalmology pharmaceutical markets and has strong growth opportunities in Italy and abroad. We look forward to working with the Pavese family to achieve our common vision of the future.”

The transaction is subject to customary regulatory approvals.

Genetic was advised by UBS, EY, LED Taxand and NCTM whilst CVC Strategic Opportunities was advised by Rothschild & Co, EY Parthenon, EY, BCG, Gattai Minoli Agostinelli & Partners and Facchini Rossi Michelutti.

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