Category Archives: News

Market Pay strengthens its contactless payment expertise with the acquisition of Dejamobile

Anacap

Market Pay, the European and omni-channel payment platform, today announces the acquisition of Dejamobile, a French fintech leader in mobile and connected equipment payment solutions.

Dejamobile becomes a subsidiary of Market Pay

Dejamobile develops digital transaction software solutions targeting the payment, transport and retail industries. Its white-labelled solutions are marketed globally to merchants, banks, fintechs and merchant service providers. Certified according to market standards, Dejamobile solutions enable them to offer innovative and certified digital payment solutions based on the latest technologies (NFC, HCE, Token, QR Code).

Market Pay and Dejamobile have already successfully partnered pre acquisition by developing PayWishâ, an innovative service for mobile purchasing experiences through a contactless payment application on Android smartphones and tablets.

This investment allows Market Pay to onboard integrate a leading, mobile transaction technology offering with substantial adoption potential, to further strengthen Market Pay’s international footprint in the payments industry.

Dejamobile’s market leading expertise in both digital and contactless payments complements the full range of in-store and e-commerce payment services already offered by Market Pay. The Dejamobile team, made up of developers and engineers, will support and strengthen Market Pay’s R&D teams.

This deal is the second acquisition for Market Pay this month, following the acquisition of the Acoustic Payment platform. These developments represent part of an ambitious growth plan for Market Pay following AnaCap’s acquisition of a majority stake in April 2021.

Houssem Assadi, CEO and co-founder of Dejamobile, commented:

“Dejamobile’s founders and employees are excited to join Market Pay to build a leading fintech on an international scale. The range of innovative solutions developed by Dejamobile since 2012, as well as its ecosystem of customers and partners, provides Market Pay with new assets in its ambitious development project. The synergy created by the integration of Dejamobile within Market Pay will accelerate Market Pay’s rate of development and will benefit all our customers and partners.”

Frédéric Mazurier, CEO of Market Pay, commented:

“Dejamobile is a strategic acquisition for Market Pay. It strengthens our technological expertise as well as our strategic positioning in our various markets while also accelerating the ability to expand Market Pay’s international footprint. The Dejamobile team, which has already developed innovative solutions partnering with us, will become core to Market Pay’s R&D processes on all mobile payment related activities. Following the Acoustic Payment investment, this additional acquisition further demonstrates our desire to rapidly grow the business and internationalise.”

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Largest SAP-partner strengthens position in mid market with INSynQ

Mentha Capital

The recent merger of Xperi, Serac and Asecom is further expanded with INSynQ. Together the four companies form the largest SAP partner for the mid market in the Benelux. With the addition of INSynQ, the group has a leading position in each of the software vendor’s three pillars: SAP S/4HANA, SAP Business ByDesign and SAP Business One. Investor Mentha Capital helps the successful SAP partners realize accelerated growth in Western Europe and enter new markets.

The joining of forces of the four companies is in line with developments in the market and the SAP landscape. The digitization of SMEs requires pragmatic partners that can offer a broad range of solutions and services. The new combination responds to this like no other. In recent years all companies have been awarded multiple times by SAP for their expertise, performance and growth. The new umbrella company name will be announced later this year.

Peter Ouëndag, managing director of INSynQ: “We’re very pleased to join this strong group of companies. There are major similarities in the culture, the people-oriented nature of the company and the strategy. I’m convinced that as a joint organization we can offer a successful future to our employees and serve existing and future customers even better with a strong portfolio.”

More than 200 SAP specialists
The merger of Xperi, Serac, Asecom and INSynQ increases capabilities in the SAP ecosystem and ensures that customers can continue to be supported throughout their whole lifecycle, regardless of the company size or preference for a cloud, managed or hybrid solution. With the inclusion of INSynC the company can respond even better to the growth in the SAP S/4 HANA and SAP Business byDesign domains. The new merged company consists of more than 200 SAP specialists with expertise in various ERP solutions and related applications.

Peter Geelen, managing director of Xperi: “INSynQ is a company we’ve been working with successfully for some time. The open and people-oriented culture fits very well with our working method. The specialist knowledge of the more than 50 consultants of INSynQ in the various areas of SAP S/4 and SAP ByDesign is a great addition and enables us to optimally serve our customers in the middle segment. With this we have realized three mature pillars for the three ERP lines of SAP, so we’re always able to offer our customers the best solution for the best price.”

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Bain Capital Credit invests in Alsea Europe

BainCapital

London, UK, October 1, 2021 – Bain Capital Credit is jointly investing in a 21.1% minority stake in Food Service Project, S.A. (Alsea Europe) alongside Alsea, S.A.B. de C.V.  , the leading operator of quick service restaurants, coffee shops, casual and family dining establishments in Latin America and Europe and Alia Capital Partners. The transaction underlines Alsea’s ongoing recovery and attractive growth outlook in the European market. Following the investment, Alsea will own 76.8% of Alsea Europe, (previously 66.2%), Bain Capital Credit will hold an indirect interest in 10.5%, and existing minority shareholders 12.7%.

Alsea Europe operates 10 brands with 1,388 restaurants in 6 markets: Starbucks (France, Netherlands, Belgium, Luxembourg, Spain and Portugal), Domino’s Pizza, Foster’s Hollywood, Foster’s Hollywood Street, VIPS, VIPS Smart, Fridays, Burger King, OleMole (Spain) and Ginos (Spain and Portugal).

Bain Capital Credit invests in Alsea Europe

The investment in the 21.1% minority stake amounts to 110.8 million euros, with Alsea and Bain Capital Credit paying 55.4 million euros each for their respective shares.

Alberto Torrado, Executive President commented: “We are delighted to have Bain Capital Credit as our new partner in Europe and expect to work closely with them as we execute our strategic plan going forward. We will benefit from their extensive experience investing in European restaurant service and related consumer industries. Post pandemic, we have identified many opportunities to grow our business and improve profitability and are delighted that Bain Capital Credit shares our positive vision for the sector, our management and business model.”

Sandro Patti, a Director at Bain Capital Credit stated: “Alsea Europe is ideally positioned to benefit from the expected recovery and consolidation in the European restaurant service industry. It has the clients, brands, technological and digital know-how, scale, and deep management experience with a great track record. We are excited by the opportunities ahead.”

Fernando Martinez, Alias’s Managing Partner commented: “We are delighted and honored to partner with Bain Capital Credit in their investment. We have been in the industry for a long time, and we think there will be opportunities to grow the business”.

Nomura acted as financial advisor to Alsea. Garrigues and Loyens acted as legal counsels to Alsea. Bain Capital Credit were advised by Arcano Partners as financial advisor, Latham & Watkins as lead legal counsel, together with Arendt & Medernach and Creel, García-Cuéllar, Aiza y Enríquez, S.C., and PwC as structuring advisor.

About Alsea
Alsea is the leading restaurant operator in Latin America and Europe of global brands in the quick service, coffee shop, fast casual, casual and family dining segments. It has a diversified portfolio, with brands such as Domino’s Pizza, Starbucks, Burger King, Chili’s, P.F. Chang’s, Italianni’s, The Cheesecake Factory, Vips, Vips Smart, El Portón, Archies, Foster’s Hollywood, Gino’s, TGI Fridays, Ole Mole and Corazón de Barro. The company operates more than 4,000 units in Mexico, Spain, Argentina, Chile, Colombia, France, Portugal, Netherlands, Belgium, Luxembourg and Uruguay. Alsea’s business model includes support for its brands through a Shared Services Center that provides all the Administrative and Development Processes, as well as the Supply Chain.
For more information, visit: www.alsea.com.mx

About Bain Capital Credit 
Bain Capital Credit is a leading global credit specialist with approximately $48 billion in assets under management. Bain Capital Credit invests across the full spectrum of strategies, including leveraged loans, high-yield bonds, distressed debt and special situations, private lending, structured products, non-performing loans, and majority and minority equity stakes. Founded in 1998 as a private, employee-owned firm, Bain Capital Credit’s experienced team of over 150 investment professionals seeks to identify attractive equity and credit investment opportunities across North America, Europe, and Asia–Pacific. In addition to credit, Bain Capital invests across asset classes including private equity, public equity, real estate and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus. To learn more, visit www.baincapital.com.

About Alia Capital 
Alia Capital Partners is a private equity firm, active also in structured finance and financial advisory of low-mid market firms. It was founded in 2007 and has a multi-industry focus. It is based in Madrid, Spain, with offices in Mexico and San Diego. It seeks to invest in firms operating in the health, education, consumer and industrial services sectors. It has been in the restaurant business since 2001.

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Simpli.fi, a Leading Programmatic Advertising Platform, Announces Completion of Significant Investment from Blackstone at $1.5 Billion Valuation

Blackstone

Fort Worth, TX, New York, NY, and Chicago, IL, October 1, 2021 – Simpli.fi, a leader in programmatic advertising and agency management software, announced today that private equity funds managed by Blackstone (NYSE:BX) (“Blackstone”) have completed the previously announced significant equity investment in the company. Blackstone joins existing investor GTCR, a leading private equity firm, as majority shareholders in the company. The investment, made through Blackstone’s flagship private equity vehicle, values the company at approximately $1.5 billion.

Simpli.fi’s full suite of mission critical workflow and ad buying software enables agencies and media groups to manage their core operations more efficiently, and to execute high ROI omni-channel ad campaigns. Each month, the company’s innovative programmatic advertising platform powers over 120,000 CTV, mobile, and other digital campaigns for 30,000 active advertisers.

“We are thrilled to embark upon this next chapter for Simpli.fi as we welcome Blackstone as a new partner,” said Frost Prioleau, Co-Founder and CEO of Simpli.fi. “Working alongside Blackstone and GTCR, we look forward to driving further product innovation and expansion of our platform, both organically and through our targeted acquisition strategy, in order to better serve the needs of advertising agencies and media buying organizations.”

“As local media spend increasingly moves from linear to digital channels, we are excited to partner with management and GTCR to build upon Simpli.fi’s market leadership in this space,” said Sachin Bavishi, a Managing Director at Blackstone.  “We look forward to investing behind Simpli.fi’s rapid growth trajectory as it continues to innovate and serve customers through superior technology and customer service.”

Craig Bondy, a Managing Director at GTCR, and Stephen Master, a Principal at GTCR, added: “Blackstone shares our vision and strong belief in Simpli.fi’s growth potential and, importantly, brings complementary expertise and valuable resources to bear. We look forward to working together to support the company’s continued expansion.”

Evercore, LUMA Partners, and Canaccord Genuity served as financial advisors, and Kirkland & Ellis LLP served as legal advisor to Simpli.fi and GTCR. Simpson Thacher & Bartlett LLP served as legal advisor to Blackstone.

About Simpli.fi
Simpli.fi is a leading provider of workflow software and programmatic advertising solutions, serving over 1,400 agencies, advertisers, and media buying organizations. Our solutions enable our customers to perform more effectively and efficiently, and to maximize ROI on their advertising spend across CTV, mobile, display, and other media types. Our platform delivers performance on budgets of all sizes, executing over 120,000 campaigns for 30,000 advertisers in a typical month. For more information please visit our website at www.simpli.fi

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $684 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Growth Business Services, Technology, Media & Telecommunications, Healthcare and Financial Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $20 billion in over 250 companies. For more information, please visit www.gtcr.com.

Contact

Katie McGovern
SHIFT Communications
simpli.fi@shiftcomm.com
609.206.1082

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Latour acquires DEPAC Anstalt

Latour logo
2021-10-01 12:00

Investment AB Latour has, through its wholly-owned subsidiary DENSIQ AB, part of Latour Industries AB, acquired DEPAC Anstalt (DEPAC) based in Lichtenstein.

DEPAC is a leading designer and manufacturer of mechanical seals used in industrial applications. The company, founded in 1983, is headquartered in Lichtenstein with a subsidiary in Austria. Net sales 2020 amounted to EUR 8 m with strong operating margin and growth.

“The acquisition of DEPAC further strengthens our offering within advanced sealing technology. Inhouse manufacturing in combination with added geographies opens new and exciting possibilities to solve more of our customers complex and critical problems. We are very happy to welcome DEPAC into the DENSIQ family”, says Krister Seleskog, CEO of DENSIQ AB.

“We welcome the acquisition and the opportunity of accelerated growth made possible by becoming part of DENSIQ”, says Peter Scrivener, CEO and owner of DEPAC.

As an effect of the acquisition the net debt (excl. IFRS 16) of the Latour Group is expected to increase compared to the net debt level at the end of June 2021, to around SEK 6.8 billion, all else equal.

Göteborg, October 1, 2021

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Krister Seleskog, CEO DENSIQ AB, +46 720 10 21 40
Gustav Samuelsson, Investment Director Investment AB Latour, +46 735 52 55 59

Latour Industries consists of a number of operating areas, each with its own business concept and business model. The ambition is to develop independent entities within the business area which can eventually become new business areas within the Latour Group. Latour Industries has an annual turnover of SEK 3 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 82 billion. The wholly-owned industrial operations has an annual turnover of SEK 16 billion.

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Mable secures $100 million General Atlantic partnership to elevate platform offering

 

September 12, 2021

Profit-for-purpose health technology company, Mable, has secured a $100 million equity investment from global growth investor, General Atlantic to accelerate the growth of Mable’s safeguarded online platform and drive a highly tailored customer experience underpinned by consumer choice and control.

Mr. Peter Scutt, Co-founder and CEO of Mable, commented “Aged care at home and disability support services are fundamentally about human relationships. No one individual has the same needs or preferences. Our strong growth since inception demonstrates we are responding to people’s desire for choice and control over their care and support.”

Mr. Scutt said Mable operates in sectors facing significant challenges including workforce shortages, increasing demand for services and funding, and higher expectations regarding quality and safeguards as well as increasingly diverse needs from clients.

“The answer to these challenges is not the cookie-cutter approach often taken by large traditional providers. A rotating roster of support workers disrupts the continuity of care and reduces the chance of genuine connections forming between the support provider and the client,” Mr. Scutt continued.

“New thinking is needed to solve the challenges facing the aged care and disability support sectors. Our platform enables enhanced safeguards which support choice and control, while opening up the sector for small business providers who are thriving.

“Facilitating the entry of small business providers, including sole traders, is a win-win for people seeking flexible, high quality and affordable support – as well as an opportunity for small businesses to engage in one of the fastest growing sectors of the Australian economy.”

Mr. Sandeep Naik, Managing Director and Head of India and Southeast Asia, General Atlantic, commented, “We believe Mable is transforming aged care and disability support and will make a difference to communities across Australia. Mable sits at a critical intersection of a number of exciting digital trends across healthcare and technology, which are empowering consumers to take more control over their care.”

“Mable’s model is powerful, creating an ecosystem with strong safeguards that can enhance the quality of care, while also leveraging technology to bring down the overall costs of care in the system, allowing Mable consumers to better pursue their goal of independent living. Mable’s growth over the past few years is testament to its value proposition and seasoned management team.”

“General Atlantic brings deep strategic and operational value to Mable due to their understanding of our business, philanthropic roots and a shared vision of building a more inclusive society through leveraging technology,” Mr. Scutt said.

“Its investment is a significant vote of confidence in our transformative model, the improved outcomes we are enabling and the team we have assembled at Mable.”

General Atlantic will acquire a minority stake in Mable. The deal has Foreign Investment Review Board approval and follows a $15 million round led by Ellerston JAADE Fund in 2019.

About Mable

Mable offers an alternative to the traditional aged care and disability services model, giving older Australians and people with disabilities more choice, control and flexibility to shape the care and support they receive in their own home and community. It’s also facilitating small businesses, including sole traders, entering the care and support sector, areas where there is significant growth in demand from an ageing population and existing workforce shortages. The model has facilitated more than seven million hours of support to date and has around 11,000 approved and active small businesses offering services. For more information or to sign-up to the platform, visit: www.mable.com.au.

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 400 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $65 billion in assets under management as of March 31, 2021 and more than 175 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlantic media@generalatlantic.com

Lachlan McKenzie
Mable 0419 255 761 media@mable.com.au

 

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KKR to Acquire Probe CX

KKR
September 30, 2021

MELBOURNE, Australia–(BUSINESS WIRE)– Quadrant Private Equity, Five V Capital, Rodney Kagan and other shareholders of Probe CX (“Probe” or the “Company”) today announced they have entered into an agreement under which KKR will acquire a majority stake in Probe alongside existing management. The investment will be used to further fuel Probe’s robust growth and strengthen its digital capabilities to enhance its service offering to customers.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210930006031/en/

Probe is a leading provider of customer experience (“CX”) and business process outsourcing (“BPO”) solutions based in Australia. Probe was founded by Co-chairman Rodney Kagan in 1979 and is now the largest provider of outsourced CX and BPO services in Australia and New Zealand, with more than 600 clients and over 15,000 staff located in its 33 offices across the globe.

Andrew Hume, CEO of Probe, said: “Customer experience is truly at the heart of our business. Through our intelligent, tailored solutions, Probe enables companies to consistently deliver positive and enriching experiences to their customers. With this mission in mind, we are really excited to welcome KKR as a shareholder and value-added strategic partner, as their experience in transforming CX and BPO companies globally will be invaluable in our next phase of growth.”

Gareth Woodbridge, Managing Director at KKR, said: “We are excited to work closely with Andrew and his team to expand Probe CX’s leading market position. We look forward to leveraging KKR’s industry and operational expertise to help accelerate Probe CX’s growth plans and to scale its digital services capabilities and footprint for the benefit of its customers.”

Rodney Kagan, Founder of Probe, said: “It is with much pride and joy that after 43 years I can see Probe continue as the leader in the customer experience and outsourcing industry. Probe’s success has always been to surround itself with the most brilliant, committed, and professional team. I am so passionate for Probe’s future and feel very excited to see KKR help take the Company to the next level on its global journey.”

Jonathon Pearce, Managing Partner of Quadrant Private Equity, said: “Probe is a fantastic business led by an exceptional team which has been at the forefront of digital innovation. Over the past 18 months Probe has continued to ensure customers and consumers received the highest quality support despite the external challenges. Now, with KKR’s global reach and capabilities, we believe the business will continue to grow and enhance its service offerings for customers in the years ahead.”

KKR is making this investment from its Asian Fund IV. The firm’s investment in Probe CX builds on its long history of investing in Australia. KKR also has experience in successfully growing businesses in the CX industry globally, including its prior investment in Webhelp – a leading provider of CX and BPO solutions throughout Europe.

The transaction is expected to be completed by the end of calendar year 2021, subject to regulatory approvals and other customary closing conditions. Additional details of the transaction were not disclosed.

Probe CX was advised by Morgan Stanley Australia Limited, PwC, and Gilbert + Tobin. KKR was advised by Credit Suisse, King & Wood Mallesons, and EY.

About Probe CX

Probe CX is a globally recognised and award-winning customer experience organisation that designs and deploys solutions to bolster and optimise our client operations. Founded more than 40 years ago and with 15,000-plus staff across five countries, the company delivers exceptional customer experiences through its deep knowledge and capabilities in Contact Centre and Customer Management, Digital Consulting, Intelligent Automation and Analytics. Probe CX also provides Shared Services such as Finance and Accounting services and Help Desk/Support Desks and specialist Knowledge Services such as SEO/SEM marketing, software and web development, health care and loan processing.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Quadrant Private Equity

Quadrant Private Equity was first established in 1996 (firstly as Quadrant Capital) and is a leading Sydney-based mid-market private equity firm investing in companies in Australia and New Zealand. Quadrant Private Equity has raised $7 billion and 12 funds since inception. Its latest funds, QPE No. 7 and Quadrant Growth Fund 2, have $1,240 million and $530 million in equity commitments respectively for private equity investment Quadrant has extensive investment experience, having led 83 investments in the past 11 funds (with 60 exits) across a range of sectors including retail, healthcare, media, consumer foods, financial services, eCommerce and other sectors.

About Five V Capital

Five V Capital, a certified B Corporation, is a private equity fund manager based in Sydney with over $900 million of funds under management. Five V’s unique investment approach is underpinned by a philosophy of alignment and is reflected in the Five V Capital team being the largest investors across its funds. This alignment between team, investors, partners and management teams is a key component of Five V’s success. Five V Capital’s current portfolio contains several leading businesses including Penten, APP Corporation, Zenith Investment Partners, Totara Learning, Monson Agencies, Probe CX, Education Perfect and Plenti. For more information about Five V Capital, please visit Five V’s website at https://www.fivevcapital.com and on LinkedIn at https://www.linkedin.com/company/fivevcapital.

Media for Probe CX:
Citadel-MAGNUS
Jack Gordon
+61 478 060 362
jgordon@citadelmagnus.com

Media for KKR:
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

Citadel-MAGNUS (For KKR Australia)
James Strong
+61 448 881 174
JStrong@citadelmagnus.com

Source: KKR

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Active Capital Company invests in cleaning agents manufacturer VDMI, aiming for sustainable growth

Activecapital

Active Capital Company (ACC) acquires, together with management, the shares of VDM Industries (VDMI). VDMI is a specialist in developing, manufacturing and filling of cleaning agents and is market leader in the mid-market of private label and contract manufacturing. Annually, VDMI delivers tens of millions cleaning products to leading players in both the professional and the household segment. VDMI is able to serve the diverging demand of its customers through its two entities, Van Dam Bodegraven and Multifill.

Investing and developing in sustainable segments

Mels Huige, partner at ACC: “We believe that VDMI has a very attractive position in the market. The combination of the different manufacturing locations enables VDMI to produce both large batches as well as more specialised runs.” Additionally, ACC sees opportunities in research and development: “VDMI has an impressive R&D department and cooperates closely with its customers. Therefore, we think that VDMI is very well positioned to anticipate trends, such as further development of sustainable alternatives based on environmentally friendly raw materials.”

Growth

Marc Bakker Schut, CEO of the company since 2007: “We are glad that, with ACC as investor, we have been able to bring in a strong partner that will help us to realise our international growth ambitions.” Bakker Schut aims at growth in this dynamic market: “We see solid growth in various segments, and expect that we can grow with our customers. By further investing in our manufacturing locations we will be able to serve our customers with our ca. 200 employees even better and more efficient.” Mels Huige adds: “During the acquisition process, we were very impressed by the good relationship between VDMI and its customers. We therefore believe that customers will look for solutions together with VDMI. We also see ample opportunities for a buy-and-build strategy, which will allow us to further strengthen the position and knowledge of VDMI. We have already started discussions with parties that should accelerate our ambitions related to sustainable packaging.”

About VDM Industries

VDMI consists of two companies, Van Dam Bodegraven and Multifill, located in Bodegraven and Mijdrecht. Both companies are specialised in developing, manufacturing, filling and packaging of cleaning products. Quality, flexibility and a focus on service are core values of VDMI. VDMI has two manufacturing locations and has an extensive automated production process. VDMI focuses on various segments such as household, disinfection, skin care, and professional cleaning products. More information can be found on the website.

About Active Capital Company

Active Capital Company (“ACC”) is an independent hands-on private equity fund focused on small- and medium sized enterprises in the Netherlands and Germany. ACC invests in companies active in the sectors Industry, Technical Wholesale and Business Services with revenues between € 10m and € 100m. Through a highly entrepreneurial and active approach, ACC maximizes the long-term value of its investments by supporting management in the execution of value enhancing projects and providing access to its extensive partner network. ACC currently invest from its fourth fund that has € 85m in committed capital, principally raised from institutional investors and entrepreneurs.

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UPshow closes $10 million credit facility led by Espresso Capital

espresso capital

Chicago — September 30, 2021 — Espresso Capital has provided UPshow, the leading in-venue entertainment and marketing platform that develops interactive digital TV networks with a $10 million venture debt facility. The company will use the funds to make strategic investments in its product development and go-to-market engine.

“There’s never been a better time to help brick and mortar businesses embrace on-premise digital transformation,” says UPshow CEO Adam Hirsen. “We’re seeing increasing demand for our solutions and this capital will help us further accelerate our growth into new markets as we build our brand.”

UPshow is the first and only marketing and engagement platform for out of home venues that delivers hyper-targeted marketing and interactive entertainment alongside a robust suite of analytics tools. The company has created a revolutionary in-venue network that drives customer and employee behaviors and engagement directly from their mobile devices using hyper-relevant and immersive content.

“Adam and his team have developed the leading technology in this space and are changing the way that restaurant, fitness, and health and wellness venues can engage with customers, patients, and employees,” said Espresso Capital Director Mark Gilbert. “UPshow is disrupting a very large market and we believe it is on course to enjoy very strong growth as it expands into new markets and replaces traditional systems.”

Prior to the pandemic, the Chicago-based business began creating private digital TV networks to engage employees. In the wake of the pandemic, retail businesses have seen unprecedented workforce challenges, high turnover, and difficulties with training and engagement. As a result, UPshow’s Back-of-House Employee Engagement product has seen growing interest from big QSR hospitality brands that employ large, distributed, and deskless workforces. UPshow is currently progressing pilot programs in this area with Burger King, Buffalo Wild Wings, and Dunkin Donuts.

“We’re delighted to see the progress that UPshow is making as it expands its service offerings to include employee engagement,” said Dan Malven, Managing Director at 4490 Ventures, who led UPShow’s Series A round. “Partnering with an innovative and trusted capital provider like Espresso to help accelerate that progress made total sense.”

“It’s been great working with Espresso,” said Hirsen. “We’ve had a close relationship with them for years and appreciate that they’re strategic partners who truly understand our business and the market opportunity we’re going after. Not only that, the non-dilutive venture debt facility from Espresso will improve our strategic flexibility and help us maximize enterprise value.

About UPshow

UPshow is the leading in-venue entertainment and marketing platform for retail and hospitality businesses that develops interactive digital TV networks. As the first and only provider of interactive digital signage networks, UPshow creates a revolutionary in-venue network that drives customer and employee behaviors directly from their mobile devices. Enterprise businesses in the hospitality, entertainment, fitness and healthcare industries rely on UPshow’s plug-and-play technology to create deeper brand engagement and maximize profitability and efficiency. Founded in 2015, UPshow now reaches audiences through more than 25,000 screens in businesses around the world. Learn more at upshow.tv.

About 4490 Ventures

4490 Ventures invests in Connected Software companies. We are a team of investors, founders and operators with more than 100 years of combined experience who bring capital and a network of resources to help entrepreneurs build the next generation of tech companies. We are high conviction, high concentration early-stage investors focused on companies outside of Silicon Valley. For more information, visit 4490Ventures.com, or follow us on 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 www.espressocapital.com.

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bp leads $25m Series A round in EV ride-hailing and charging start-up BluSmart

BP Ventures
  • BluSmart is India’s first and largest integrated EV ride-hailing and charging business
  • It is bp venture’s first direct investment in India and tenth in the mobility space
  • The investment will help BluSmart bring its electric vehicles and charging stations to five major cities

bp ventures has made its first direct investment in India, investing $13 million in integrated EV ride-hailing and charging company BluSmart. It led a $25 million Series A round that also saw support from Mayfield India Fund, 9Unicorns and Survam Partners, alongside other existing investors.

 

BluSmart will use the capital to expand its fleet of electric vehicles and charging stations from its home city of Delhi to five additional Indian cities in the next two years. The investment will help bp move towards becoming a leader in India’s mobility market, and to provide integrated energy and mobility solutions to help customers reduce their emissions across the world.

 

BluSmart is India’s first and largest integrated EV ride-hailing and charging company, and aims to deliver safer, cleaner and more sustainable mobility. It is the first service of its kind with no surge pricing or rides rejected by drivers. Safety and cleanliness are paramount in the Indian market, and customers can view the last time each car was sanitised and driver vaccination status via the BluSmart app. The company also removes the financial burden of vehicle ownership by leasing vehicles to drivers and oversees all vehicle maintenance, to help reduce driver stress.

 

“Our partnership is underpinned by shared values; caring for customers, colleagues and the environment, and with safety at the core of everything we do.”

Richard Bartlett, SVP future mobility & solutions

 

India is now the third-largest startup market globally and its GDP is projected to be the world’s third largest by 2030. Yet with 35 of the top 50 most polluted cities globally, there’s a huge need for low carbon technologies to help make that growth compatible with its climate ambitions.

 

Urbanization is also increasing rapidly, with the UN projecting that India’s urban population size will nearly double from 2018 to 2050, potentially creating further congestion and environmental challenges that electric ride-hailing can help play a part in improving.

 

The industry is forecast to grow significantly, with mobility as a service projected to make up 15% of the 1.1 trillion kilometres to be travelled by passenger vehicles in India by 2030, compared to 5% of the 477 billion kilometres travelled today.

 

With the largest EV charging infrastructure in India and a growing fleet of electric vehicles, BluSmart aims to transform ride hailing in the country. The business is growing quickly in Delhi NCR, which represents 20% of India’s mobility market, which BluSmart estimate has already saved over approximately 1,500 tonnes of CO2, with more than 650,000 passenger trips completed to date.

 

Richard Bartlett, SVP future mobility & solutions, said: “The electric mobility revolution will have a huge impact in reducing vehicle emissions in cities, which in India are growing quickly. BluSmart’s business model solves a number of key barriers to urban EV ride-hailing take-up, from the cost for drivers to the quality of customer experience. Our partnership is underpinned by shared values; caring for customers, colleagues and the environment, and with safety at the core of everything we do. We are excited to have made our first direct investment in India, to grow alongside the BluSmart business.”

 

Anmol Singh Jaggi, co-founder of BluSmart, added: “We believe that electric mobility has huge growth potential, driven in part by the increasingly favourable economics behind electric vehicles. With that in mind we want to redefine ride-hailing with electric vehicles, and our consumer focus has helped us to already establish a strong brand presence in our core market; to date our vehicles have travelled over 21 million kilometres. This latest funding infusion will help us grow as we work with bp to help transform India’s high-polluting cities and redefine ride-hailing with electric vehicles.”

 

Sophia Nadur, managing partner at bp ventures, will join BluSmart’s board. To date, bp ventures has invested almost $800m in more than 60 companies across seven geographies.

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