Category Archives: News

Acquisition of Polish Pet Food Manufacturer Werbliński by Partner in Pet Food

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Partner in Pet Food (‘PPF’), a leading European pet food manufacturer, announces that it has reached an agreement with Mr. Grzegorz Werbliński, the successful Polish entrepreneur, to acquire his businesses G-Mart and Zakład Przetwórstwa Rolniczego in Poland (‘Werbliński’).

The transaction is expected to be completed in the coming months, subject to customary regulatory approvals and contractual closing conditions.

The Werbliński pet food business, established in 2004, near Kalisz, Poland, has a long history of producing high quality dog and cat food for Polish and international customers, including supermarkets and specialty pet food retailers.

Werblinski is highly complementary to PPF, given its geographical presence. It has strong growth prospects, and fully reflects PPF’s strategy to further expand its business in the fast-growing Polish and CEE markets and develop product offering in all categories.

This transaction follows PPF’s recent acquisition of Mispol, another leading Polish pet food manufacturer, and the acquisition of Landini Giuntini in Italy in January 2021.

Commenting on the acquisition, Gerald Kuehr, CEO of PPF, said:

“With its strong footprint in Poland and successful growth strategy, Werbliński represents a significant opportunity for us to further expand our local presence in Poland and CEE. We look forward to welcoming the Werbliński Team and Grzegorz himself into the PPF family and to recognising this acquisition as another major step in the future growth and development plans of our business.”

Grzegorz Werbliński commented:

“I’m excited to join Partner in Pet Food together with my experienced and dedicated team and be part of the pan European PPF Group and the success of our companies together.”

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EQT becomes the first private markets firm to set science based targets

eqt

EQT accelerates its journey to address climate change by defining ambitious greenhouse gas emission (“GHG”) reduction targets, encompassing both its own and its portfolio investments’ operations

EQT becomes the first private markets firm to formalize science based targets through the Science Based Targets initiative (“SBTi”)

The science based targets (“SBTs”) will become a central part of EQT’s active ownership strategy and climate-related value creation drivers across all investments

EQT AB is proud to announce that EQT’s science based targets have recently been approved and validated by the SBTi. With this, EQT has formalized its GHG emission reduction targets in line with the 1.5° pathway described in the Paris Agreement. EQT has a unique position to take an active role in addressing climate change and is fully committed to its purpose of making a positive impact with everything it does, both on group-level and in the EQT Funds’ investments.

The journey to map and offset emissions started already in 2014, and since the commitment to set SBTs in December 2020, EQT has further refined the GHG baseline in its investments and defined holistic emission reduction targets. Looking ahead to 2030, EQT is committing to:

  • Reducing EQT AB’s direct emissions by 50 percent
  • Reducing EQT AB’s indirect emissions from business travel by 30 percent
  • Ensuring 100 percent of the EQT portfolio companies (excluding EQT Ventures*) will have their own SBTs validated by 2030, 10 years faster than required by SBTi
  • Reducing indirect emissions in the EQT Real Estate I and II funds by 55 percent per square meter floor area

EQT has set interim targets and will publicly report progress annually with 2019 as a base year. Over the coming years, portfolio investments in the most recently launched fund strategies will also be included in the targets.

Bahare Haghshenas, Global Head of Sustainable Transformation, “We have a clear ambition to combat climate change holistically across the EQT ecosystem and setting science based targets is an important milestone towards this goal. This is a testament to how we integrate purpose and positive impact into everything we do, and it will enable us to drive even better performance.”

Alberto Carrillo Pineda, Managing Director of Science Based Targets initiative at Carbon Disclosure Project, “We are delighted to see EQT paving the way for the private markets industry and defining a new bar of ambition. EQT and the broader private markets industry have a unique opportunity to drive real change and limit global warming in line with the Paris Agreement.”

By having SBTi approved science based targets, EQT now fulfils, earlier than anticipated, the first KPI target in its inaugural sustainability-linked bond, which was established earlier this year to underscore EQT’s approach of having sustainability as an integral part of the business model of both the EQT AB Group and the EQT Funds’, including its portfolio companies. Further, it reaffirms EQT’s ambition to lead by example in the broader private markets industry.

Facts
The Science Based Targets initiative helps the private sector drive ambitious climate action by enabling companies to set science-based emissions reduction targets in alignment with the pathways described in the Paris Agreement to limit global warming to 1.5°C vs. pre-industrial levels. The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Further details on the EQT SBTs can be found here.

Contact
Bahare Hagshenas, Global Head of Sustainable Transformation, bahare.hagshenas@eqtpartners.com, +45 313 104 31
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

*Excluded due to EQT Ventures’ investments being smaller than set thresholds as per SBTi’s latest guidelines for venture capital

About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. Uniquely, EQT is the only large private markets firm in the world with investment strategies covering all phases of a business’ development, from start-up to maturity. Including EQT Exeter, EQT today has more than EUR 71 billion in assets under management across 27 active funds within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 24 countries across Europe, Asia-Pacific and the Americas and has more than 1,000 employees.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

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Espresso portfolio company Bento Technologies acquired by U.S. Bank

San Francisco and Chicago — October 14, 2021 — Bento Technologies, a leading expense management platform designed to simplify and consolidate complex financial services for the SMB segment, and an Espresso Capital portfolio company, has been acquired by U.S. Bank. The acquisition, which closed on August 31, will help U.S. Bank — the fifth largest banking institution in the United States — bring payments and banking services together to simplify cash flow and money management for small businesses.

“We’re thrilled for the Bento team and pleased to have been able to help them achieve such a fantastic outcome,” says Espresso Capital Director, Mark Gilbert. “The capital we provided helped fuel the company’s tremendous growth. Their size, combined with the impressive fintech platform they’ve built, made them a great strategic fit for U.S. Bank. Congratulations to everyone involved in this amazing achievement.”

Earlier this year, Espresso extended a $6 million credit facility to Bento for Business. The facility allowed the company to make strategic enhancements to its platform while scaling the organization.

“Partnering with Espresso helped position us for this extraordinary exit,” says Guido Schulz, the former CEO of Bento for Business, who is now an Executive Advisor at U.S. Bank. “They structured a great deal for us that allowed us to grow our business and negotiate our way to a very successful outcome. We couldn’t be happier.”

The acquisition is set to close in September. Bento’s other existing investors include Edison Partners, Blumberg Capital, and Comcast Ventures.

About Bento for Business

Bento for Business is dedicated to modernizing the way small and mid-size businesses manage and unlock value from their working capital. Bento is the partner of choice for businesses that want a modular financial operating platform for their cash flow and spend management needs. Bento’s strategic partners also expand to the banks, payment networks and processors that want to provide digital treasury management and business banking suite options for their customers. Co-located in Chicago and San Francisco, Bento is an award-winning SMB fintech solution led by veteran financial service executives and backed by leading financial technology investors. For additional information, visit Bento for Business, Twitter and LinkedIn.

About Espresso Capital

Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 300 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at espressocapital.com.

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Leading Wellness Experience Platform Mindbody to Acquire ClassPass; Announces $500 Million Strategic Investment

Apax

Planned acquisition supports Mindbody’s commitment to driving growth for wellness businesses, while offering consumers the world’s largest fitness and wellness experience marketplace

Mindbody receives $500 million commitment from investment group led by Sixth Street to support continued growth and product innovation

Mindbody, the leading wellness experience technology platform, today announced it has entered into a definitive agreement to acquire ClassPass, a monthly subscription service providing access to the world’s most extensive network of fitness and wellness experiences. This deal will bring two of the wellness industry’s most prominent leaders together, creating a one-stop shop for both business owners and consumers.

“This acquisition comes at a pivotal time for the wellness industry as it continues to rebound from COVID-19 related closures – and local and authentic experiences are more important to people than ever,” said Josh McCarter, CEO of Mindbody. “Our companies share a singular focus on bringing wellness experiences to more people, in more places. By leveraging the best of both companies’ technology and expertise, we are more committed than ever to providing studios with best-in-class tools to help them grow and thrive, while also driving more consumers to their businesses.”

In conjunction with the acquisition, Mindbody has secured a strategic investment of $500 million from a group led by Sixth Street, a leading global investment firm. Prior Sixth Street investments include Airbnb, Datavant, Legends, MDLive, the San Antonio Spurs, Spotify and Sprinklr. This investment, together with the continued support of Mindbody’s majority investor and partner, Vista Equity Partners, will help further accelerate the company’s growth and build upon the product innovations and investments that have been made over the course of the pandemic. Major milestones have included the creation of a fully integrated virtual platform that set business owners up for success in a hybrid world, enhancements to Mindbody’s marketing automation tools to improve client acquisition and retention, and the introduction of Mindbody Capital, a product that will give small business owners access to financing to help them invest in and grow their business.

Mindbody’s intent to acquire ClassPass comes on the heels of recent research and data from both companies that proves consumers are getting back to in-person wellness experiences as studios reopen. Nearly eighty percent of consumers feel wellness is more important than ever. Additionally, several markets that have fully reopened are seeing bookings on the Mindbody platform rebounding to pre-COVID levels and ClassPass consumer usage is at one-hundred-and-ten percent of pre-COVID usage for subscribers who have gone back to class.

For business owners, ClassPass offers data-driven, machine learning-based SmartTools that help studios to manage excess inventory and market unsold spots at a revenue-maximizing price. Studios on ClassPass typically experience a thirty percent increase in reservation volume and a fifteen to twenty percent increase in revenue when they utilize SmartTools. Additionally, fifty percent of ClassPass members are new to boutique fitness upon joining, and eighty percent visit a new studio for the first time using the platform.

“The ClassPass network includes many businesses already working with Mindbody. By combining our respective operations, we will create more seamless integrations and unlock new revenue opportunities for business owners using both services, while continuing to support all fitness, salon and spa businesses who choose to work with Mindbody or ClassPass,” said Fritz Lanman, ClassPass CEO. “For consumers using our marketplace and professionals enrolled in the ClassPass Corporate Program, our goal is to create greater choice and flexibility in the experiences they can book.”

Best known for its SaaS platform that powers tens of thousands of wellness businesses around the globe, Mindbody has remained focused on its mission to help people lead happier, healthier lives by connecting the world to wellness. That leading B2B technology, combined with Mindbody’s existing consumer marketplace and the reach of ClassPass’s network will create the most extensive and integrated platform in the industry.

“As a customer and user of both Mindbody and ClassPass for several years, I know how impactful the combination of these two powerhouses will be on the industry as it regains momentum,” said Bryan Myers, President and CEO of [solidcore] boutique fitness.

The acquisition will be an all-stock deal at a non-disclosed price and will integrate both teams—with ClassPass continuing to operate its app and website. Upon closing of the deal, Lanman will serve as President of ClassPass and Mindbody Marketplace, working alongside McCarter and Mindbody’s executive team.

“Since the founding of ClassPass, our north star has always been how we can help people discover and seamlessly book soul-nurturing experiences,” said ClassPass founder Payal Kadakia. “This acquisition will be a massive milestone for a female-founded company, and I am confident in the leadership of Josh McCarter and my long-time business partner Fritz Lanman to propel the business forward and continue to deliver a best-in-class experience for consumers and business owners alike.”

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Leading Wellness Experience Platform Mindbody to Acquire ClassPass; Announces $500 Million Strategic Investment

Planned acquisition supports Mindbody’s commitment to driving growth for wellness businesses, while offering consumers the world’s largest fitness and wellness experience marketplace

Mindbody receives $500 million commitment from investment group led by Sixth Street to support continued growth and product innovation

Mindbody, the leading wellness experience technology platform, today announced it has entered into a definitive agreement to acquire ClassPass, a monthly subscription service providing access to the world’s most extensive network of fitness and wellness experiences. This deal will bring two of the wellness industry’s most prominent leaders together, creating a one-stop shop for both business owners and consumers.

“This acquisition comes at a pivotal time for the wellness industry as it continues to rebound from COVID-19 related closures – and local and authentic experiences are more important to people than ever,” said Josh McCarter, CEO of Mindbody. “Our companies share a singular focus on bringing wellness experiences to more people, in more places. By leveraging the best of both companies’ technology and expertise, we are more committed than ever to providing studios with best-in-class tools to help them grow and thrive, while also driving more consumers to their businesses.”

In conjunction with the acquisition, Mindbody has secured a strategic investment of $500 million from a group led by Sixth Street, a leading global investment firm. Prior Sixth Street investments include Airbnb, Datavant, Legends, MDLive, the San Antonio Spurs, Spotify and Sprinklr. This investment, together with the continued support of Mindbody’s majority investor and partner, Vista Equity Partners, will help further accelerate the company’s growth and build upon the product innovations and investments that have been made over the course of the pandemic. Major milestones have included the creation of a fully integrated virtual platform that set business owners up for success in a hybrid world, enhancements to Mindbody’s marketing automation tools to improve client acquisition and retention, and the introduction of Mindbody Capital, a product that will give small business owners access to financing to help them invest in and grow their business.

Mindbody’s intent to acquire ClassPass comes on the heels of recent research and data from both companies that proves consumers are getting back to in-person wellness experiences as studios reopen. Nearly eighty percent of consumers feel wellness is more important than ever. Additionally, several markets that have fully reopened are seeing bookings on the Mindbody platform rebounding to pre-COVID levels and ClassPass consumer usage is at one-hundred-and-ten percent of pre-COVID usage for subscribers who have gone back to class.

For business owners, ClassPass offers data-driven, machine learning-based SmartTools that help studios to manage excess inventory and market unsold spots at a revenue-maximizing price. Studios on ClassPass typically experience a thirty percent increase in reservation volume and a fifteen to twenty percent increase in revenue when they utilize SmartTools. Additionally, fifty percent of ClassPass members are new to boutique fitness upon joining, and eighty percent visit a new studio for the first time using the platform.

“The ClassPass network includes many businesses already working with Mindbody. By combining our respective operations, we will create more seamless integrations and unlock new revenue opportunities for business owners using both services, while continuing to support all fitness, salon and spa businesses who choose to work with Mindbody or ClassPass,” said Fritz Lanman, ClassPass CEO. “For consumers using our marketplace and professionals enrolled in the ClassPass Corporate Program, our goal is to create greater choice and flexibility in the experiences they can book.”

Best known for its SaaS platform that powers tens of thousands of wellness businesses around the globe, Mindbody has remained focused on its mission to help people lead happier, healthier lives by connecting the world to wellness. That leading B2B technology, combined with Mindbody’s existing consumer marketplace and the reach of ClassPass’s network will create the most extensive and integrated platform in the industry.

“As a customer and user of both Mindbody and ClassPass for several years, I know how impactful the combination of these two powerhouses will be on the industry as it regains momentum,” said Bryan Myers, President and CEO of [solidcore] boutique fitness.

The acquisition will be an all-stock deal at a non-disclosed price and will integrate both teams—with ClassPass continuing to operate its app and website. Upon closing of the deal, Lanman will serve as President of ClassPass and Mindbody Marketplace, working alongside McCarter and Mindbody’s executive team.

“Since the founding of ClassPass, our north star has always been how we can help people discover and seamlessly book soul-nurturing experiences,” said ClassPass founder Payal Kadakia. “This acquisition will be a massive milestone for a female-founded company, and I am confident in the leadership of Josh McCarter and my long-time business partner Fritz Lanman to propel the business forward and continue to deliver a best-in-class experience for consumers and business owners alike.”

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Global Processing Services raises over US$300 million to accelerate technology development and global growth

Advent International
  • Global API-first payment technology platform powers the world’s leading fintechs, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy
  • Investment from Advent International and Viking Global Investors provides deep payments and fintech experience and capital; follows strategic investment by Visa in 2020
  • Company intends to use investment to accelerate technology investments in product innovation and to continue the expansion of its customer base in 48 countries today across Europe, Asia-Pacific, and the Middle East

LONDON, October 13, 2021 – Global Processing Services (“GPS”), the leading global payment technology platform, today announced it has raised over US$300 million from Advent International (“Advent”) and Viking Global Investors (“Viking”), who will co-control the company. The investment by Advent will be funded through Advent Tech and Sunley House Capital, an affiliate of Advent.

GPS’ API-first payment technology platform enables innovative card programmes for the world’s leading fintechs, digital challenger banks and embedded finance providers. Its platform has helped scale multiple unicorns and powers a vast array of prominent fintechs across Europe, Asia-Pacific, and the Middle East, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy. Through a single unified code base, GPS enables its customers and partners to launch and scale card programmes across 48 countries, supported by integrations with over 95 issuers. To date, it has issued over 190 million physical and virtual cards, and last year processed more than 1.3 billion transactions on its cloud-based platform.

“GPS provides key payments technology infrastructure, enabling the global fintech revolution. Their agile, resilient and modern cloud platform drives some of the most innovative use cases and allows fintechs to globalise through a single API,” commented Peter James, Director at Advent International.

“Through their customer-centric innovation, GPS has quietly established a leading position in key markets around the world with an attractive, diversified and global customer base. Together with Viking, we look forward to supporting GPS’ leadership team to expand the business’s product offering and accelerate its international reach.”

“We are delighted to partner with Advent and Viking, with their deep experience and track record in payments and fintech, and, who share our bold vision for the next generation of global payments,” said Joanne Dewar, Chief Executive Officer at GPS.

“GPS has been at the heart of the global fintech explosion, simplifying access to the global rails of the new digital payments era. This investment will allow us to turbo charge our geographic footprint and product expansion plans as we drive the payments ecosystem in the key verticals of today and tomorrow, including digital banking, Buy Now Pay Later, B2B virtual cards, financial empowerment, and much more.”

Advent has a strong track record in the growth of businesses across the payment and software industries, including a recent investment in Planet, the global integrated payments leader, and Dock, the Latin American financial technology infrastructure provider where Advent’s affiliate, Sunley House Capital, co-invested alongside Viking. Worldwide since 2008, Advent has invested ~US$5 billion across 12 payments platform companies.

Viking has a long history investing in payments and software, across both the private and public markets. Viking is investing in GPS out of its private equity vehicles, which currently manage over $17 billion. Recent payments investments include Dock, the Latin American financial technology infrastructure provider where it co-invested alongside Advent, and Clip, the Mexican digital payments and commerce platform.

The transaction will be subject to customary closing conditions.

About Global Processing Services

Global Processing Services (GPS) is the trusted and proven go-to payments processing partner for today’s leading fintechs, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy. GPS has to-date issued over 190 million physical and virtual cards, enabled in over 48 countries, and last year processed over 1.3 billion transactions on its API-first cloud-based platform.

GPS’ highly flexible and configurable platform places the control firmly in the hands of global fintechs, digital banks, and embedded finance providers, enabling them to deliver rich functionality to the cardholder. It is a multi-award-winning issuer processor powering next generation payment segments, including expense management, B2B payments, crypto, lending and credit (including Buy Now Pay Later propositions), digital banking, FX, remittance, open banking and more.

GPS is certified by Visa and Mastercard to process and manage any credit, debit or prepaid card transaction globally, with offices in London, Newcastle, Singapore, Sydney and Dubai. Its platform is equipped to meet the stringent standards required by Tier 1 banks, integrating with 95 issuer partners and operates programmes for a client base across the globe.

Company highlights from the last two years include:

  • Expansion into Asia-Pacific through establishing a new regional centre of excellence in Singapore alongside a hub in Sydney, with a fast-growing customer base including WeLab Bank, the first homegrown virtual bank in Hong Kong, and Paidy, the largest Buy Now Pay Later player in Japan.
  • Secured strategic investment from Visa, a long-term partner of GPS, and established a new regional centre of excellence in United Arab Emirates (UAE) having been selected as one of its preferred issuer processors in Asia-Pacific and the MENA region.

Website: www.globalprocessing.com
LinkedIn: https://www.linkedin.com/company/global-processing-services/

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 380 private equity investments across 42 countries, and as of June 30, 2021, had €68 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 245 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit:

Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

About Viking Global Investors LP

Founded in 1999, Viking is a global investment management firm that manages approximately $48 billion of capital for its investors. It has offices in Greenwich, New York, Hong Kong, London, and San Francisco and is registered as an investment adviser with the U.S. Securities and Exchange Commission.

For more information, please visit: www.vikingglobal.com

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Bolster acquires a majority stake in Public Search

Bolster

Bolster Investment Partners acquires a majority stake in Public Search. For over 13 years, Public Search has been the leading intermediary between finance professionals and organizations in the public domain. By obtaining a majority stake, Bolster will support Public Search in realizing its strong growth ambitions. The acquisition marks the first investment from the recently launched Bolster Investments II fund.

“A small organization but large within its niche.” When it comes to the mediation of highly sought-after finance professionals, Public Search is the market leader in the healthcare and education segment. Additionally, with the support of Bolster Investment Partners, Public Search will further expand its position in the local government segment. The company does this by offering interim services for freelancers, secondment services for their project consultants and recruitment services. Its mission is to be the standard of financial experts in the public sector. Public Search serves approximately 250 unique clients, including leading clients as the Municipality of Utrecht, Erasmus University Rotterdam and Amsterdam UMC.

Public Search was founded in 2008 by Wilco Kosters and Cengiz Çetintas. The company has been growing by approximately 20% per year and expects over €23 million revenue in 2021. The organization currently consists of 80 project consultants and 130 freelancers. Additionally, the organization has a carefully selected network of more than 1,000 freelancers, with whom they work on a regular base. To stimulate and boost the development of their employees, Public Search offers tailored (inhouse) training and development programs via the Public Search Academy, including the opportunity to participate in certain postgraduate programs as Register Controller or Certified Public Controller.

With Bolster as a partner, the successful strategy of Public Search will be continued and complemented with various growth and professionalization initiatives. Over the past few years Wilco and Cengiz have been transferring their responsibilities to the wider organization, making the sale to Bolster a logical next step. Alongside Bolster, a significant part of the employees invest in the company, highlighting the dedication and commitment of the team.

Mark van Rijn, partner Bolster Investment Partners: “We are very happy that Public Search has chosen Bolster as its long-term partner. Public Search is a real peoples business that highly values its employees. By focusing on quality and specific profiles, a dominant market position has been built in the limited-cyclical market segments that the company has selected. We look forward to further developing and growing the organization together.”

Wilco Kosters, DGA Public Search: “We are proud of what we have built together over all those years and where Public Search currently stands. The transfer of our knowledge and responsibilities has been conducted with the greatest care. In addition to the personal connection, we have a lot of confidence in the team of Bolster and their long-term investment focus. We leave a healthy and talented organization behind us and are confident that, together with all the employees, the success story will be continued.”

For more information, please contact:
Bolster Investment Partners
Mark van Rijn: +31 6 2060 1305


About Public Search
Public Search, located in Hilversum, is the leading intermediary between finance professionals and organizations within the healthcare, education and local government sector since 2008. Public Search offers interim, secondment and recruitment services. Its mission is to become the standard of business controllers in the public sector.

About Bolster investment Partners
Bolster Investment Partners is a long-term investor specialized in minority interests. Bolster invests in exceptional Dutch companies with a keen focus and a proven business model. Bolster helps entrepreneurs realize their company’s full potential. By acting as equal partners to make the difference.

The Bolster Investment Partners team spun off in 2017 from Van Lanschot Kempen NV, where it was running Van Lanschot Participaties since 1982. Bolster’s three partners have been working together for more than ten years. The Bolster team has further developed into a committed and attuned team of twelve professionals. Bolster has a proven track record; since 1982, we have successfully collaborated with more than 100 companies.

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CapMan Buyout exits Bright Group to global event technology provider NEP Group

Capman

CapMan Buyout press release
12 October 2021 3:30 p.m. EEST

CapMan Buyout exits Bright Group to global event technology provider NEP Group

Funds managed by CapMan Buyout have entered into a definitive agreement to sell the subsidiaries of Bright Group Oy, a 360 supplier of live events services in Northern Europe including audio, video and lighting solutions, trucking, stages, infrastructure/installations and camera production to global event technology provider NEP Group and its Live Events company in Northern Europe, Creative Technology Northern Europe AB.

Bright Group was established in 2011 when CapMan acquired Finnish Eastway and Norwegian AVAB-CAC to form a leading player for the event and entertainment services business in the Nordics. Since then, more than 20 live event companies in Northern Europe have joined Bright Group – many of which have over 30 years of experience in the industry. Today, Bright Group employs teams across its locations in Finland, Norway and Sweden.

“What started as a small local entrepreneur-driven specialist, has grown into a pan-Nordic organisation both organically and through acquisitions. Bright Group is a preferred event partner for many companies, industries and venues that choose to outsource the technical competence to a market leader. I would like to extend my warmest gratitude to Bright Group’s management and professional staff for excellent co-operation over these years. We are pleased with a new home for the company as the story continues on a larger and more international scale – the future looks very bright indeed,” says Anders Björkell, Partner at CapMan Buyout.

“This acquisition will be great for our clients in Northern Europe and globally,” said Graham Andrews, Global President, NEP Live Events. “Adding Bright Group’s resources to NEP’s and our Creative Technology division gives us the ability to offer the ‘best of the best’ in innovative solutions, talent and resources. It’s also a great cultural fit. We have a great deal of respect for Bright Group’s work and their people.”

“As the Nordic forerunner, Bright Group has plenty to offer on an international scale. Our skilled professionals have decades worth of experience, and we are passionate in what we do. In the future, we can create unique events for even wider audiences”, said Jarno Uusitalo, CEO of Bright Finland.

The transaction is conditional upon the approval of the Norwegian Competition Authority and is expected to close during October–November 2021. Prior to closing, Creative Technology Northern Europe and Bright Group will continue to operate as separate and independent companies. Terms of the deal were not disclosed.

For more information, please contact:

Anders Björkell, Partner, CapMan Buyout, tel. +358 40 5377 566

Jarno Uusitalo, CEO Bright Finland, tel. +358 50 305 8569

To learn more about NEP’s full range of broadcast, live event and media solutions, visit www.nepgroup.com and www.ct-group.com. To learn more about Bright Group, visist www.brightgroup.com/.

About CapMan

CapMan Buyout is part of CapMan Group, a leading Nordic private asset expert with an active approach to value-creation in its portfolio companies and assets, with assets under management of over €4 billion. CapMan has a broad presence in the unlisted market through our local and specialised teams. The investment strategies cover Private Equity, Real Estate and Infra. CapMan also has a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

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Ardian acquires Adamo, representing its first investment in the telecommunications sector in Spain

Ardian

11 OCTOBER 2021 INFRASTRUCTURE SPAIN, MADRID

Ardian Infrastructure reaches an agreement with EQT to buy 100% of the fibre optic operator Adamo, with more than 1.8 million homes covered by its network.
Ardian reinforces its interest in Spain as a strategic market and will support Adamo’s management team to boost the growth of its project, focused on rural areas with low internet penetration.

Madrid, 11 October 2021- Ardian, a world leading private investment house, has agreed to acquire its first investment in the telecommunications sector in Spain. Ardian will acquire from EQT 100% of Adamo, one of the fastest growing fibre optic operators and platforms in this market, focused on rural areas and supported by an open access wholesale business model.
Ardian will work alongside Adamo’s management team, who will reinvest in Adamo, to continue to drive its ambitious growth plan.
Adamo has an existing footprint of c.1.8m homes covered, serving c.250k subscribers over 27 provinces across Spain. Together with Ardian’s support, Adamo will continue to drive the development of its project with the organic expansion of its network and analyzing opportunities for the acquisition of new networks. Adamo aims to reach 3.2m homes and expands its backbone network to more than 11,000 kms in the coming years. Its strategy is to deploy its network in rural areas where there is virtually no high-speed internet access, contributing with its services to bridge the digital gap.
Adamo has its own coverage in more than fourteen autonomous communities in Spain and also provides connectivity services through its FTTH network to four of the main operators in the country and to more than 160 local operators.
Juan Angoitia, co-head of Ardian Infrastructure in Europe, said: “We are very pleased to be able to announce our first investment in the telecommunications sector in Spain. The Spanish market remains very attractive for us. Our focus will now be on working together with the Adamo team to create value for the company and all its stakeholders, while at the same time helping to address the serious problems that rural areas in Spain face and boosting their economic and social development.”
Martin Czermin, CEO of Adamo, has highlighted the fit that Ardian has with the company’s project: “We are proud to incorporate a partner like Ardian that brings a great experience in the sector, a deep knowledge of the market and a great sensitivity towards our contribution to society. Their support comes at a key moment to be able to continue driving Adamo’s growth both organically and inorganically.”
Ardian Infrastructure strategy with this operation will be to provide the most efficient telecommunications service throughout the national territory, and in particular in rural areas that currently do not have high-speed Internet, thus providing these areas with an element for their development.
The telecommunications sector is a priority in the strategy of Ardian Infrastructure which, through the funds it manages, has a 30.2% controlling stake in INWIT, Italy’s leading tower operator, and a 26% stake in EWE, one of Germany’s largest utilities and a leading provider of telecommunications services.
The closing of the transaction is subject to the satisfaction of customary regulatory and other approvals.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$114bn 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 800 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 more than 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

ABOUT ADAMO

Adamo is the fastest growing and #1 open access rural FTTH platform in Spain with a unique nationwide footprint covering 1.8 million homes and providing fixed broadband and mobile services to approximately 250,000 retail and wholesale subscribers. Adamo has a highly dedicated customer focus and provides high-quality and high-capacity services at competitive prices. The Company currently employs over 300 people and is headquartered in Barcelona, Spain.

www.adamo.es

PRESS CONTACTS

ARDIAN

HEADLAND VIKTOR TSVETANOV

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

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Acquisition Lieverdink

Anders Invest

Anders Invest Groeiplatform, part of the industry fund, realized a 100% participation in Lieverdink from Doetinchem on 7 October 2021.

The company manufactures parquet floors and is the market leader in the Netherlands in the field of tapestry floors. Lieverdink employs approximately 25 permanent employees. It is Anders Invest’s 24th participation in its industry fund.

Lieverdink, a family business founded in 1986 in the Achterhoek, produces high-quality traditional parquet floors. Strips, herringbone motifs and patterned floors are produced from more than 30 types of wood.

In addition to traditional parquet, Lieverdink has developed its own line of two-layer parquet (Q2) specifically for use in combination with floor heating. In Doetinchem, the company has several production lines where the parquet is machined from raw planks.

The company is a benchmark in the parquet industry and counts more than 800 parquet fitters among its clientele. This ensures that Lieverdink is able to realize a stable turnover with good results.

The shares in Lieverdink have been taken over from the current owners, Gerben and Eric Lieverdink. The parquet factory was founded by their parents and they have been involved in the company from an early age.

Gerben and Eric will remain associated with the Parketfabriek as directors for the foreseeable future. With them continuity is guaranteed and Anders Invest sees an attractive growth perspective due to the strong developments in the housing sector and opportunities in the field of internationalization.

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