Brabant Groep from Oosterhout, part of the Industriefonds of Anders Invest, has acquired the shares of Euroblast N.V. from Belgium.
Brabant Groep focuses on corrosion prevention projects for various sectors such as tank construction, steel construction, petrochemicals, civil engineering, utility construction, shipbuilding and energy. Euroblast is located near the port of Antwerp and specializes in blasting and preserving steel plates for shipbuilding, tank construction, offshore applications and industry and works for Belgian, European and intercontinental customers.
With the acquisition of Euroblast, Brabant Groep obtains greater geographical coverage and can serve its customers more widely. In addition, synergies can be achieved through more efficient business operations, improved use of the various locations and the sharing of logistics, facilities and work processes. Euroblast will continue to operate under its own name.
This is the second expansion for Brabant Groep this year. In June, a merger between the Brabant Group entity Straco Heerenveen and Staal Technische Centrum Noord-Nederland (STC) was realised. Straco Heerenveen is active in the field of wet painting and powder coating. STC is active in blasting and wet coating applications. In time, the facilities will be expanded with a new aluminum coating line.
3i Group plc (“3i”) announces that the 3i European Operational Projects Fund (“3i EOPF” or “the Fund”) has agreed to invest c.€30m in NEoT Green Mobility (“NGM”) to fund its pipeline of future projects. 3i EOPF is investing alongside Mirova and will join existing shareholders EDF and Banque des Territoires. Following this transaction, the Fund is c.70% committed.
NGM offers turnkey zero-emission transportation leasing and services solutions to public authorities and transport operators. NGM owns and leases assets such as electric buses and electric coaches, batteries for use in electric vehicles, and electric vehicle charging infrastructure. Today, NGM has over €40m assets under management, under mid- to long-term contracts, mainly in France and the UK, and aims to expand across Western and Northern Europe.
Stephane Grandguillaume, Partner at 3i in charge of origination for the Fund, commented: “This is an attractive opportunity for 3i EOPF to invest in the green mobility sector in Europe. NGM’s projects play a central role in the energy transition. We believe its pipeline will grow rapidly as the roll-out of electric buses and coaches accelerates.”
3i EOPF, which is managed by 3i’s infrastructure team, is a €456m fund investing in operational projects across Europe, with a focus on France, the Benelux, Germany, Italy and Iberia. It targets a wide range of sub-sectors, primarily social infrastructure and transportation, but also telecoms and utilities. It aims to provide long-term yield to institutional investors.
3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com
About 3i’s Infrastructure business
3i is a leading infrastructure investor, with a track record of investing in infrastructure since 1987. The team of over 35 investment professionals manages or advises c.£4.9 billion of assets through a number of infrastructure investment vehicles, including 3i Infrastructure plc, 3i EOPF, 3i MIA, BIIF and 3i India Infrastructure Fund.
Austin, Texas — October 7, 2021 — Espresso Capital announced today that it has provided MAP Health Management, LLC with a $14 million credit facility. MAP will use the funds to scale its business and help fuel its M&A strategy. MAP’s integrated platform is designed to improve outcomes for patients being treated for addictions and other behavioral health illnesses, and delivers a broad range of telehealth services including virtual peer support, psychiatric care, and therapeutic care for patients and their family members. MAP has extensive partnerships with leading health plans across the country that represent over 67 million total covered lives.
“There’s an unprecedented need for substance abuse and behavioral health treatment in the United States right now,” said MAP Health Founder and Chief Executive Officer, Jacob Levenson. “We’re excited to use Espresso’s funding to execute our growth strategy so that we can further expand our offerings, provide our patients with the comprehensive services they need, and ultimately keep them engaged across the entire care continuum.”
Levenson founded MAP Health in 2011 and has more than 20 years of experience in the addiction treatment space. The Levenson family has also been active in the addiction treatment space for three decades, having helped to treat over 100,000 people through their involvement in various organizations.
“We’ve been extremely impressed with Jacob and his management team,” said Espresso Executive Director, Steven Michau. “Their deep experience and expertise are proving invaluable as they work to bring innovative care solutions to people who need them. We believe they are well positioned to become a leading provider in this very important sector of the healthcare system.”
“The Espresso facility has given us the capital we need to maximize our strategic flexibility as we consider various growth strategies, including additional M&A opportunities,” said Levenson. “Steve and the team have been great to work with. Not only did they take the time to truly understand our business in a way that most lenders don’t, they’ve been highly responsive and have run a great process.”
About MAP Health Management, LLC
From its inception in 2011, MAP’s mission has been to improve outcomes for the millions of people annually diagnosed and treated for addiction and other behavioral health conditions. MAP delivers a proprietary long-term support model through deploying tech-enabled peer support and medical and psychiatric professional services – all designed to improve personal connection, community health, and healthcare outcomes. For more information, visit https://www.thisismap.com.
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.
The Hague, 6 October 2021 – Main Capital Partners (“Main”), a leading European software investor, is pleased to announce the successful completion of capital raises for two new funds, raising €1.21 billion in total. Following the launch of Main Capital VII and Main Foundation I, Main’s total assets under management (“AUM”) have more than doubled to approximately €2.2 billion. Main will deploy these funds to further grow and develop strong European software groups in multiple market segments, targeting local buy-and-build strategies as well as cross-border growth.
Charly Zwemstra, Chief Executive Officer of Main Capital, commented: “We aim to play a key role in the consolidation of the fragmented software market by building leading European software groups, executing strong, fit for purpose business models that drive sustainable growth.”
Source: Main Capital Partners
In terms of recent track record, Main has completed 75 software acquisitions in the Benelux and DACH regions as well as across the Nordics over the past 5 years, proving the scalability and achievability of its market leading strategic approach. Main has been the most active software specific investor for these geographies in this period, according to private equity database Preqin.
Autonomous growth combined with local and cross-border buy-and-build
Main currently manages a portfolio of 29 software groups, covering a wide range of differentiated markets. Strategically, Main combines organic growth with local and cross-border acquisitions.
German RegTech company cleversoft is a good example of the cross-border approach in Main’s portfolio. This company provides Governance, Risk and Compliance (“GRC”) software and has strengthened its leading position in the European GRC-software market with several acquisitions in the Benelux region.
Furthermore, Assessio, an HR-software and AI company, based in Sweden, has claimed a strong foothold in the Dutch market through multiple acquisitions including, HFM Talent Index. Main is also well known for its strong local buy-and-build strategies, as demonstrated by platforms such as King Software (financial software) and SDB Group (healthcare software) in the Netherlands, FOCONIS (RegTech) and MACH AG (GovTech) in Germany as well as Pointsharp (security software) in Sweden.
Significant growth for Main Capital funds Main Capital VI, the previous flagship fund, closed in 2019 at a €564 million hard-cap. Its successor announced today, Main Capital VII has closed at a hard-cap of €1 billion, while the new fund initiative Main Foundation I has closed, in tandem, at its hard-cap of €210 million. As a result of strong interest from both existing relationships as well as the new investors entering the Main structure, both funds were significantly oversubscribed with €1.21 billion at the first and final closing, after a fundraising period of less than four months. The combined target size was initially set at €1 billion.
The pre-existing investor base accounts for more than 60% of the committed capital allocated for the new funds. The other capital secured comes via new relationships with reputable institutions such as pension funds, asset managers, family offices and high-net-worth individuals. According to independent data sources, the financial growth and returns to the investors of Main’s previous funds are consistently among the best in the industry.
With Main Capital VII, Main will continue its existing strategy of building profitable and developed enterprise software groups, through both organic growth and the effective execution of buy-and-build strategies. With its new fund initiative Main Foundation I, Main will target fast-growing enterprise software companies looking for a strategic and financial partner. This new fund is meant for smaller but profitable, high-growth companies operating with strong, modern technology platforms.
About Main Capital Partners
Main Capital Partners is a strategic investor with an exclusive focus on enterprise software companies. Main has almost 20 years of experience in building strong software groups in the Benelux, the DACH-region and the Nordics. Main specialises in helping management teams within mature and growing software companies achieve sustainable growth by working closely together as a strategic partner. Main has a workforce of 45 employees working from offices in The Hague, Stockholm and Düsseldorf, offering support on a strategic and a pragmatic level. In total, Main has acquired or invested in more than 100 software companies to date and has realised 17 strategic scenarios for divestment of software groups. As of October 2021, Main Capital has approximately €2.2 billion assets under management and currently manages a portfolio of 29 platform companies, creating employment for approximately 4,000 people.
Toronto — October 6, 2021 — Espresso Capital announced today that it has provided Thentia, a global leader in government technology software as a service (SaaS), with a $15 million follow-on credit facility to support key investments and acquisitions as the company accelerates its rapid expansion into new markets.
Thentia and Espresso Capital first partnered in September 2018 on an initial venture debt round that helped the company expand its suite of enterprise technology solutions.
“In selecting Espresso as our lending partner back in 2018, I was convinced that their unique capabilities provided the best growth platform for Thentia,” said Julian Cardarelli, Thentia’s Chief Executive Officer. “This latest investment shows the confidence that Espresso has in Thentia to become the dominant player in the occupational licensing and government technology industries. We’re looking forward to continuing our work with Espresso and other key players in the investment ecosystem as we accelerate our growth in the Canadian, U.S., and EMEA markets.”
Partnering with Espresso on this $15 million financing will allow Thentia to continue to fuel its rapid ascent to the top of the GovTech ecosystem by enabling the company to execute on its key strategies while making important investments and acquisitions to enhance its core offerings, provide exceptional customer service to new and existing clients, ramp up its sales and marketing efforts to reach new audiences, and to introduce new products and services that deliver incremental revenue opportunities.
“We’re excited to expand our partnership with Thentia and to support the company on this next step in their growth journey as they continue to expand into new markets, further enhance their product, and accelerate their go-to-market strategy,” says Will Hutchins, Managing Director, Espresso Capital. “This upsized facility gives them the additional capital to expand their business while pursuing a number of important opportunities across North America and the EMEA region.”
Thentia raised its $10 million Series B round in May 2021 with Spring Mountain Capital and BDC Capital.
About Thentia
Founded in Canada, with operations in the U.S. and trusted by agencies in North America and worldwide, Thentia was developed by subject matter experts with a mission to transform GovTech through best-in-class technological capabilities. Its secure, modern and elegant solution, Thentia Cloud, is revolutionizing the way agencies manage data and licensing by bringing the entire process into the 21st century with speed, automation, ease of use, and best-in-class support. For more information, visit thentia.com.
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.
BOSTON and DENVER, October 5, 2021 — Bain Capital Real Estate, the real estate investing business of Bain Capital, and Evergreen Medical Properties, a company that invests in, leases and manages healthcare facilities, today announced the acquisition of two properties in suburban St. Louis, Missouri and in Providence, Rhode Island with a combined total of over 72,000 square feet. Financial terms of the private purchases were not disclosed.
Bain Capital Real Estate and Evergreen Medical Properties formed a joint venture to acquire, renovate and operate institutional quality healthcare real estate in select markets throughout the U.S. The joint venture focuses on mission critical outpatient medical office buildings.
The St. Louis area property is located at 1815 Clarkson Road. The state-of-the-art medical office building is anchored by the Pepose Vision Institute, a leading eye care practice, and Mid America Surgery Center, a premier ambulatory surgery center. The facility was built in 2007 as a comprehensive ophthalmic care and surgery center location, and is 100 percent leased.
The Providence, RI property is Oak Hill Place, well-located just off Route 1, within minutes of downtown Providence and less than an hour from Boston via Interstate 95. The anchor tenant is Lifespan Physician’s Group, the largest multispecialty practice in Rhode Island, and part of the Lifespan Health System, Rhode Island’s largest health system and private employer. Oak Hill Medical Building is located less than two miles from Lifespan’s Miriam Hospital, the teaching affiliate for Brown University, and just five miles from Rhode Island Hospital, Lifespan’s flagship teaching facility. The property was fully renovated in 1998 and is currently 96% occupied.
“With the continued shift in healthcare delivery to outpatient settings for better outcomes and lower cost, we believe these high-quality properties represent a compelling opportunity to execute on our thematic and customer-focused investment strategy,” said Elizabeth Carrillo Thomas, a Managing Director at Bain Capital Real Estate. “We look forward to a lasting partnership with Evergreen Medical Properties in which we will continue to leverage our combined healthcare expertise to drive significant value creation through strategic capital, operational improvements and a partnership approach with healthcare providers.”
“We are excited to build upon our partnership with the Bain Capital Real Estate team and grow our platform with these best-in-class medical office buildings,” said Josh Richmond, President of Evergreen Medical Properties. “As a long-term real estate investor focused exclusively on the healthcare industry, we emphasize lasting relationships with our health system and physician group partners and seek to be a true value-add and solutions oriented resource.”
Bain Capital Real Estate’s total healthcare investment activities have encompassed approximately 8 million square feet in medical office, life science and space, and senior living communities.
About Bain Capital Real Estate
Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested over $5.2 billion of equity as of March 31, 2021 in over 475 assets across multiple sectors. Bain Capital Real Estate focuses on small to mid-sized assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate’s strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm’s global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities. For more information, visit https://www.baincapital.com/businesses/real-estate.
About Evergreen Medical Properties
Evergreen Medical Properties, with offices in both Denver and Atlanta, is a full-service real estate operating company that invests, leases and manages healthcare facilities across the United States. Evergreen uses a collaborative approach to invest in strategic healthcare real estate in order to align interests and build genuine relationships with health systems and providers. Evergreen seeks to unlock capital, enhance the operating flexibility of its partners and create durable, long-term value in each of its healthcare real estate investments.
Media Contacts
For Bain Capital Real Estate
Charlyn Lusk / Scott Lessne
(646) 502-3549 / (646) 502-3569
Funds advised by Apax (the “Apax Funds”) and CCMP Capital today announced that they have entered into a definitive agreement under which the Apax Funds will acquire Eating Recovery Center (“ERC Pathlight”), a leading provider of eating disorder and mood and anxiety treatment in the U.S., in partnership with Oak HC/FT and management (collectively the “Investors”).
ERC Pathlight is a national leader in eating disorder treatment. The company’s differentiated clinical model meets patients where they are in their treatment journey by offering the full continuum of higher levels of care. Through the recent expansion of its Pathlight division, ERC Pathlight addresses a more comprehensive set of behavioural health conditions including primary mood and anxiety disorder treatment. ERC Pathlight lowers financial barriers to accessing behavioural care by partnering with most major commercial insurers in the U.S., so patients can focus their energy on pursuing recovery.
Behavioural health providers are experiencing unprecedented growth as they deal with rising incidence of mental health conditions. Public awareness of the importance of treating these conditions has increased, creating an opportunity to expand ERC Pathlight’s reach. The Investors will uphold ERC Pathlight’s focus on clinical excellence while expanding access to care physically and digitally.
Rebecca Steinfort, CEO of ERC Pathlight said: “We are thrilled to partner with Apax and Oak HC/FT on the next phase of our journey to expand access to mental health treatment in the U.S. In addition to growth capital, we believe our new partners bring the right digital DNA to accelerate the growth of our virtual care offering. CCMP has been instrumental in furthering our mission and fuelling our expansion through new facility development, capacity, and service line growth, and establishing our virtual care platform to support our patients and their families. We thank them for their partnership.””
Dr. Ken Weiner, Founder and current Executive Chairman of ERC, said: “Our new partners have the right culture, experience, and expertise to fuel our growth while allowing us to remain focused on providing the very best care to patients and their families. With the support of Apax and Oak HC/FT, we will look to expand our services across the country. We are thankful to our partners at CCMP for their support and the many investments made since 2017 to allow the Company to continue expanding access to the high-quality care that ERC Pathlight has been dedicated to since our inception in 2008.”
Andrew Cavanna, Partner at Apax, commented: “Apax is proud to be partnering with a pioneer and market leader in the behavioural care industry. ERC Pathlight has provided life altering care to children, adolescents, and adults. We’re pleased to back Rebecca Steinfort, Dr. Weiner, and the entire ERC Pathlight team to advance the reach and positive impact of ERC Pathlight in the years ahead.”
Pavithra Mahesh, Principal at Apax, added: “ERC Pathlight has a sterling clinical reputation coupled with a focus on putting patients first. We believe all patients and families deserve access to the high-quality care ERC Pathlight provides. We are proud to partner with the management team and the front-line staff to expand access to care by growing both the company’s physical footprint as well as investing in dedicated virtual care capabilities.”
Andrew Adams, Co-Founder and Managing Partner of Oak HC/FT said: “Oak HC/FT has backed a number of market leading providers and has supported their transition to hybrid and digital means of care delivery. Oak HC/FT believes that ERC, with its prestigious position in eating disorder treatment, is ideally positioned to expand its virtual presence. We are thrilled to be supporting Rebecca and her team on ERC’s journey to reach patients nationally.”
Greg Brenneman, Executive Chairman of CCMP Capital, added: “CCMP has been privileged to partner with Dr. Ken Weiner and Rebecca Steinfort in expanding ERC Pathlight’s best-in-class clinical care and preparing the Company for its next phase of growth. We wish continued success to ERC Pathlight, Apax, and Oak HC/FT as they build on the Company’s strong foundation.”
The transaction is subject to applicable regulatory approvals and is expected to close in late 2021. Financial terms were not disclosed.
Apax was advised by Simpson Thacher (legal advisers) and PWC (financial and tax advisers). Oak HC/FT was advised by Finn Dixon & Herling LLP (legal advisers). ERC was advised by Moelis & Company (lead financial adviser) and Jefferies (co-adviser), Ropes & Gray (legal advisers), and Alvarez & Marsal (accounting and tax transaction advisers).
New partnership with Montagu to expand Intech services, improve operational efficiency, and accelerate time-to-market.
Intech, the market leader in contract manufacturing of orthopedic medical devices, today announces the closing with Montagu, a private equity firm specializing in partnering with businesses that make the world work. This new partnership will further enhance the momentum that Intech has generated in the past decade, to reinforce their position as a world leader in orthopedics.
Orthopedic contract manufacturing organizations across the globe are currently facing supply chain challenges, capacity constraints, and operational efficiency. The combination of Montagu’s extensive experience in the healthcare and technology space, with Intech’s unmatched expertise at manufacturing medical devices aims to alleviate these challenges by expanding capacity, optimizing workflows, and pursuing strategic growth opportunities.
The new partnership was finalized after negotiations between Eurazeo PME and Montagu management. The Montagu team is excited to partner with Intech to achieve its mission of solving the most complex engineering challenges in the orthopedics industry, while positively impacting lives.
For more than 20 years Intech has been leading the way in the manufacturing of orthopedic instruments and implants, cases and trays, and silicone handles. With unique manufacturing capabilities and a strong international presence, Intech is determined to reach new heights in the industry, offering customers increased agility and responsiveness, all whilst maintaining its best-in-class customer experience. As such, with Montagu’s support, Intech is poised to push the boundaries of orthopedics and elevate the quality of medical devices and services offered to its clients.
For more information on our new partnership and plans for growth, call us or visit https://intech-medical.com/
Chicago — October 5, 2021 — Hologram, a global cellular platform for IoT connectivity and an Espresso Capital portfolio company, has raised a $65 million Series B funding round. The round was led by Tiger Global, with participation from Bullpen Capital, NextView Ventures, and Mucker Capital.
“Congratulations to the entire Hologram team,” said Espresso Capital Director Mark Gilbert. “This is an incredible milestone for the company and will help fuel Hologram in becoming a category- defining company in the IoT connectivity space.”
In 2020, Espresso extended a credit facility to Hologram to support the company’s continued growth and fund strategic investments to maximize that growth.
“Espresso Capital was able to offer us financing solutions to help us ambitiously pursue our growth and new equity funding at the same time,” said Ben Forgan, CEO and co-founder of Hologram. “Following our Series B raise, we’re planning to triple our team and we’ll continue our remote-first culture.”
Existing investors include Drive Capital, Capital Midwest Fund, Mucker Capital, and Bullpen Capital.
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 www.espressocapital.com.
4 October 2021 – Projective Group, the international consulting firm, has today announced its acquisition of the Dutch management consultancy Mastermind. With this acquisition, Projective Group increases its annual revenue to approximately € 60 Million and has over 450 experts across 6 European countries.
The partnership, which sees the Dutch firm become a full subsidiary of the larger group, is the latest in a series of acquisitions by Projective Group as part of its plans for expansion across Europe. Prior to Mastermind, Projective Group acquired DTSQUARED, a London-based data consultancy, in early August of 2021.
Mastermind’s team of 30 consultants will help position Projective Group in the specialised Dutch pensions market. They bring complimentary experience and an excellent track record in organisational acceleration, strategy, advice, and digital transformation in pensions, insurance and banking in The Netherlands.
