Category Archives: News

3i invests in Danish lifestyle brand Konges Sløjd to support its global expansion

3I

3i Group plc (“3i”) today announces that it has agreed to invest in Konges Sløjd, a premium international lifestyle brand offering apparel for babies and children.

Headquartered in Copenhagen, Denmark, Konges Sløjd designs, sources and markets high-quality, children’s clothing, accessories, home products and toys through a curated network of (online-) retailers and direct-to-consumer e-commerce in more than 50 countries.

Konges Sløjd has been a forerunner in the premium baby/child segment through its stylish, functional, safe, durable, sustainable and affordable products across all children categories, and is well positioned to accelerate its growth across Europe, Asia and North America.

The company’s footprint is already international with rapid global expansion resulting from a proven and replicable online and offline market-entry strategy. Konges Sløjd also enjoys a highly-engaged global virtual community, with more than 345,000 followers on Instagram (www.instagram.com/kongessloejd).

The global baby/child product market benefits from strong sociographic tailwinds such as premiumization, rising middle classes and older parents having higher disposable incomes when they have children. The market is highly fragmented among mass, premium, affordable luxury and aspirational luxury players, with Konges Sløjd well placed at the convergence of the fast-growing premium and affordable luxury segments.

Boris Kawohl, Partner, 3i, said: “It is unique to see a young consumer brand with such a strong product offering and so much traction across so many countries as Konges Sløjd. The brand has an exceptionally high customer engagement as well as an efficient and scalable social media-based go-to-consumer approach. We are looking forward to work with Emilie and her team in the next phases of the company’s international growth across Europe, Asia and the US”.

Emilie Konge Breindal, Founder and CEO, Konges Sløjd, said: “I’m very excited about partnering with 3i as I believe they recognise and value the true spirit of Konges Sløjd and have the right values, team, toolbox and commitment to support us on our global journey. We will be able to maintain our unique values, brand and design approach whilst reaching even more families around the world”.

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Eudonet announces the acquisition of Netanswer

Montagu

Eudonet is a leading European provider of vertical CRM software for Associations, Government & Local authorities, Higher Education, and Real Estate. The company is present in France, Switzerland, Belgium, Canada, the Netherlands and the UK. Today, Eudonet is pleased to announce the acquisition of Netanswer.

Netanswer is a leading community management solutions provider in France. Over the past 19 years, it has built up more than 3 million members across 180 networks. Entirely scalable and developed as a SaaS offering, Netanswer allows associations (such as alumni, professional associations, and foundations) to build a solid, dynamic, and committed community of members.

The acquisition will allow Eudonet to strengthen its investment in the Netanswer solution while offering existing customers community management and animation solutions.

Antoine Henry, CEO of Eudonet, says: “We are very pleased to welcome the Netanswer team, their products and their customers to the Eudonet group. This acquisition strengthens our offering in online community engagement, a strategic area for our clients. It demonstrates our commitment to investing in associations and in the higher education market to better serve our customers.”

We are very pleased to welcome the Netanswer team, their products and their customers to the Eudonet group.

Antoine Henry, CEO, Eudonet

Fabrice Wilthien, CEO of Netanswer, says: “After 19 years of independence, the time had come to join a group in order to develop the Netanswer solution with new resources and to have the opportunity to distribute it even more widely, and abroad. Eudonet is a leader in European CRM solutions, which was a must-have for us.”

After 19 years of independence, the time had come to join a group in order to develop the Netanswer solution with new resources and to have the opportunity to distribute it even more widely, and abroad. Eudonet is a leader in European CRM solutions, which was a must-have for us.

Fabrice Wilthien, CEO, Netanswer

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Clearlake Capital-backed Wheel Pros agrees to acquire Transamerican auto parts from Polaris

Clearlake

Strategic Acquisition Creates a Vertically Integrated Omnichannel Platform for Aftermarket Automotive Parts and Accessories

 

GREENWOOD VILLAGE, CO and COMPTON, CA – June 16, 2022 – Wheel Pros, a designer, manufacturer and distributor of proprietary branded aftermarket vehicle enhancements for light trucks, SUVs, passenger cars and ATVs/UTVs backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and in partnership with management, today announced it has entered into a definitive agreement to acquire Transamerican Auto Parts (“TAP” or “the Company”) from Polaris  Inc. (NYSE: PII), the global leader in powersports. TAP is a vertically integrated manufacturer, distributor, retailer and installer of off-road Jeep and light truck parts and accessories. In 2021, TAP generated nearly $760 million in revenue.

 

“We are thrilled to combine with TAP and build a vertically integrated omnichannel platform for aftermarket automotive enhancements across a wide range of vehicles,” said Randy White, Co-Founder and CEO, and Brian Henderson, Chief Strategy Officer, at Wheel Pros. “TAP’s extensive product portfolio, proprietary brands, manufacturing capabilities, and omnichannel platform have resulted in an automotive and off-roading enthusiast following that we have long admired. We look forward to working with the TAP team as we undertake new initiatives to accelerate the growth of the combined business and continue to drive value for our customers, suppliers, and partners.”

 

Headquartered in Compton, California, TAP sells and installs an extensive line of parts and accessories for Jeep and truck enthusiasts, including products manufactured under its six proprietary aftermarket brands: SMITTYBILT®, PRO COMP®, RUBICON EXPRESS, POISON SPYDER™, G2™, and 4WP FACTORY. TAP’s omnichannel platform operates under the 4 WHEEL PARTS brand, and serves automotive and off-roading enthusiasts through retail, eCommerce, and wholesale. The Company has a growing online presence via  4WheelParts.com and 4WD.com, and TAP’s integrated platform enables buy online, pick-up, and install in store.

 

“TAP is a scaled player in the aftermarket automotive industry, and the combination with Wheel Pros creates a vertically integrated omnichannel platform that better serves automotive and off-roading enthusiasts,” said José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, Partner, at Clearlake. “We look forward to continuing to leverage our O.P.S.® framework in partnership with the Wheel Pros team to drive both organic and inorganic growth as the company builds upon its position as a premier automotive aftermarket enthusiast platform.”

 

“With this combination, we have brought together two well-known businesses in the automotive aftermarket industry,” said Dilshat Erkin, Senior Vice President at Clearlake. “We are excited to welcome the TAP team to the Wheel Pros organization and continue to support the combined business as they embark on new innovative projects to accelerate growth.”

 

The transaction is expected to close early in the third quarter, subject to customary closing conditions. Baird acted as financial advisor to Polaris in connection with the transaction. Kirkland & Ellis LLP served as legal counsel to Wheel Pros and Clearlake.

 

ABOUT WHEEL PROS

 

Founded in 1995, Wheel Pros serves the automotive enthusiast industry with a wide selection of vehicle enhancements from its portfolio of lifestyle brands, including Fuel-Off-Road, American Racing, KMC, Rotiform and Black Rhino. Utilizing its expanding global network of distribution centers spanning North America, Australia and Europe, Wheel Pros serves over 13,500 retailers and has a growing ecommerce presence to provide enthusiast consumers with access to the products they desire. More information is available at www.wheelpros.com.

 

ABOUT TAP

 

TAP sells and installs an extensive line of parts and accessories for Jeep and truck enthusiasts, including products manufactured under its six proprietary aftermarket brands: SMITTYBILT®, PRO COMP®, RUBICON EXPRESS, POISON SPYDER™, G2™, and 4WP FACTORY. TAP’s omnichannel platform operates under the 4 WHEEL PARTS brand, and serves automotive and off-roading enthusiasts through retail, eCommerce, and wholesale. More information is available at www.transamericanautoparts.com.

 

ABOUT CLEARLAKE

 

Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland. More information is available at www.clearlake.com and on Twitter @Clearlake.

 

Contact

 

For Wheel Pros:

Max Krapff

Backbone Media

970.658.5252 ext. 1174

max.krapff@backbone.media

 

For Clearlake:

Jennifer Hurson

Lambert & Co.

+1 845-507-0571

jhurson@lambert.com

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Ratos carries out major investment in new platform – acquires majority stake in Knightec

Ratos

Ratos has signed an agreement to acquire 70% of the consulting company Knightec, thereby entering into a partnership with co-founder and CEO Dimitris Gioulekas. Over the past 12 months, Knightec had sales of SEK 941m, with adjusted EBITA of SEK 140m. The cash-free, debt-free purchase price for 100% of the company (enterprise value) amounts to SEK 1,625m, corresponding to a multiple of 11.6 (EV/EBITA).

Knightec was founded in 2003 and has experienced strong growth ever since, mainly generated organically but also through strategic acquisitions. The company stands out thanks to its rapid rate of change and industry-leading profitability. Through its unique customer offerings and strong community involvement, Knightec has established a strong market position in technology, design and digitalisation of products and services.

“I am impressed by Knightec’s development in recent years, and Ratos is proud to have been entrusted to enter into a partnership with CEO and co-founder Dimitris Gioulekas and thereby contribute to the company’s continued growth. Knightec currently holds a strong position in the market and is an excellent start to our focus on this sector, which will be an important area for Ratos going forward. Through this acquisition, we will gain exposure to the growing consultancy industry, where we already have solid experience,” says Jonas Wiström, President and CEO, Ratos.

“Knightec will remain a driving force in the digital transformation towards sustainable products and services. Our ability to establish partnerships with key customers and partners has been crucial to our success. This partnership with Ratos will create excellent opportunities to continue investing in new areas in order to strengthen our market position and continue to deliver industry-leading growth and profitability,” says Dimitris Gioulekas, co-founder and CEO, Knightec.

With over 800 employees across Sweden, Knightec specialises in advanced projects that straddle technology, design and digitalisation. Its customers include large corporations with a leading position in various sectors, such as automotive, pharmaceutical, medical technology, finance, telecom, media and security.

Financing and impact on Ratos
The acquisition was financed with Ratos’s own funds and bank financing. For the Ratos Group, the acquisition corresponds to a pro forma increase in sales of just over 4% and an increase of 7% in adjusted EBITA for LTM May 2022. The Ratos Group’s leverage in April 2022 amounted to 0.8x EBITDA and will increase pro forma to 1.4x EBITDA. The CEO and other key employees of Knightec will make a reinvestment in conjunction with the transaction, with their holding amounting to approximately 30% of the shares in the company. After a certain period of time and at the earliest in full after five years, both these key employees and Ratos have a customary right to demand that Ratos acquire the shares at market value.

The acquisition of Knightec is conditional on customary competition clearance.

Press briefing
Representatives of the media are welcome to a press briefing at 09.45 a.m. CEST at Ratos’s office, Sturegatan 10 in Stockholm. Participants will be Jonas Wiström, President and CEO at Ratos and Dimitris Gioulekas, CEO at Knightec. It is also possible to participate digitally via Teams. Mandatory registration, contact VP communication Josefine Uppling, +46 76 114 54 21 or e-mail josefine.uppling@ratos.com.

For further information and media contact:
Jonas Wiström, President and CEO, Ratos, +46 76 114 54 21
Dimitris Gioulekas, CEO, Knightec, +46 70 569 96 88
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

This is information that Ratos AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 07:00 a.m. CEST on 16 June 2022.

About Ratos
Ratos is a business group consisting of 14 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2021, the companies have approximately SEK 25 billion in net sales. Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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CapMan Growth exits semiconductor equipment company Picosun

Capman

CapMan Growth press release

16 June 2022 at 2:45 p.m. EEST

CapMan Growth exits semiconductor equipment company Picosun  

Picosun Oy has been acquired by Applied Materials, Inc., a US-based leading semiconductor equipment company. This is the largest exit in CapMan’s operating history, measured by the portfolio company’s exit value. The investment has been very successful, taking the Growth 2017 fund into carry upon exit.

CapMan invested in Picosun in 2019, and since then Picosun has grown as a company, building new facilities, opening new markets, and developing ALD technology primarily for specialty semiconductors. Based in Espoo, Finland, the company has operations in Europe, the United States and Asia. The company serves hundreds of customers, including Nasdaq top-10 companies, and has over 200 employees worldwide.

ALD, or Atomic Layer Deposition, a technology originally developed in Finland, enables the fabrication of ultrathin precise films, which is a prerequisite for the functionality of modern electronics. ALD is used in, among others, silicon wafers, electronic sensors, optoelectronics, and medical devices with new applications being established constantly.

“Picosun is a highly successful growth story and has achieved global recognition and a loyal customer base. The strengthened management team and expanded production capacity have built a strong foundation for further growth with the new owner. This journey has been a great success thanks to the extraordinary Picosun team lead by CEO Jussi Rautee. It has also been an honour to work in close co-operation with a truly committed main owner Stephen Industries (family office of Kustaa Poutiainen) and other active investors,” says Juha Mikkola, Senior Partner at CapMan Growth.

CapMan Growth Equity 2017 Fund Ky starts generating carried interest following the completion of the exit and the fund has eight companies remaining. Picosun is the largest exit in CapMan’s operating history, measured by the portfolio company’s exit value.

For more information, please contact:

Juha Mikkola, Senior Partner, CapMan Growth, +358 50 590 0522

About CapMan Growth

CapMan Growth is a leading Nordic growth investor making significant minority investments in companies targeting strong growth and internationalisation. CapMan Growth is part of CapMan, a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With over to €4.7 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. For more information, visit growth.capman.com and www.capman.com. 

About Picosun

Picosun provides the most advanced ALD (Atomic Layer Deposition) thin film coating solutions for global industries. Picosun’s ALD solutions enable technological leap into the future, with turn-key production processes and unmatched, pioneering expertise in the field – dating back to the invention of the technology itself. Today, PICOSUN® ALD equipment are in daily manufacturing use in numerous leading industries around the world. Picosun is based in Finland, with subsidiaries in Germany, USA, Singapore, Japan, South Korea, China mainland and Taiwan, offices in India and France, and a world-wide sales and support network. Visit www.picosun.com.

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Visma divests its digital transformation consulting business to CVC Fund VIII

CVC Capital Partners

Visma’s IT consulting business, focusing on digital transformation, has been a part of the Visma Custom Solutions division and is a leading provider of mission-critical IT solutions and data-driven technologies, powered by 2,000 highly skilled professionals across the Nordic region and in Lithuania, and serving 8,000 customers in the private and public sector.

With its focus on customised software development, the bespoke nature of the new company’s business model differs from the rest of the Visma Group, which is centred around SaaS (Software as a Service) and standardised products.

After receiving strong interest in the business from potential buyers in recent months, this led to a closed auction process with a selected group of interested parties. A key rationale for the transaction is that both Visma and the new company can achieve even stronger growth as two separate businesses.

The transaction further streamlines Visma as Europe’s leading provider of mission-critical cloud software.

“We believe this is a great outcome for all parties, enabling the IT consulting business to develop even faster and better as an independent entity. For Visma this means even sharper focus on our core business going forward, and additional funds to pursue our ambitious growth strategy”, says Merete Hverven, CEO of Visma.

CVC is a leading global alternative investment manager with a global network of 25 local offices. CVC has been active in the Nordic markets for more than 20 years, successfully partnering with numerous companies in the region.

“We are excited about this opportunity to invest and accelerate the growth of the new company, which has an impressive track record under Visma’s ownership. The business is well positioned to continue its growth journey in delivering large digital acceleration projects across all Nordic countries, and we look forward to working with its talented team to accelerate this development”, say Christoffer Sjøqvist, Senior Managing Director and Head of CVC Denmark and Leif Lindbäck, Partner and Head of CVC TMT EMEA.

A leading player in the Nordics

Visma Custom Solutions has a best-in-class track record of profitable growth, growing 22 percent annually on average over the last five years, to 280 million Euros in revenues in 2021, making it one of largest Digital IT Services companies in the Nordics.

The new company’s projects span the entire software and app development lifecycle, leveraging capabilities in GovTech, analytics, cybersecurity and cloud. It will have 30 offices across the Nordic region and in Lithuania, with the headquarters to be located in Copenhagen.

CVC will support the new company’s existing management team and employees to grow and develop its leading market position through both organic growth and future acquisitions, under a new brand.

Current Division Director of Custom Solutions, Carsten Boje Møller, will assume the role of CEO in the new company.

“This is a great opportunity for us to create a leading Nordic IT consulting business, focused on digital transformation. I am very excited to get CVC on board, as they have a clear ambition to support our strategy and growth ambitions. This has been the most important criteria when choosing the right owner for our new company, and we look forward to working with them to accelerate our growth as an independent company”, says Møller.

Financial terms are not disclosed.

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Adelis successfully exits Knightec

Adelis Equity

Adelis Equity Partners Fund I (“Adelis”) has divested its majority stake in Knightec, a leading technology and digitalisation consultant, to investment company Ratos. The transaction values Knightec at an EV of SEK 1,625 million.

Adelis invested in Knightec in 2017 in partnership with Dimitris Gioulekas, founder and CEO, along with a large number of key employees. During Adelis’ ownership, Knightec doubled its revenue to SEK 941 million whilst tripling EBITA to 140m and reaching an industry-leading margin of 15%. This has been achieved thanks to a focused growth strategy within areas such as cloud connectivity and cyber security, as well as a successful project-based business model. In addition, Knightec has made several strategic acquisitions, including Dewire and Daresay.

”Dimitris and the management team have done an outstanding job transforming Knightec into a leading digitalisation and R&D consultant for blue-chip customers. We are honoured to have been a growth partner to this great company, and look forward to following Knightec in its continued journey”, says Erik Hallert at Adelis.

”I am very thankful for the partnership with Adelis and their contribution over the past years. This has been a true joint effort, resulting in impressive organic growth and a more assertive company. We welcome our new growth partner, Ratos, and look forward to exploring exciting opportunities ahead”, says Dimitris Gioulekas, CEO of Knightec.

The transaction is subject to anti-trust approval.

For further information:

Dimitris Gioulekas, CEO Knightec, +46 70 569 96 88

Erik Hallert, Adelis, +46 70 936 80 41

About Knightec

Founded in 2003, Knightec is a leading and fast-growing consultant in the intersection of digitalisation, technology and design services. Knightec serves high-profile clients across various industries including automotive, life science, finance, telecom and defense. The company has more than 800 employees across 12 offices in Sweden. Knightec’s vision is to move forward together with clients towards a more intelligent and sustainable world. For more information, please visit www.knightec.se.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 32 platform investments and more than 150 add-on acquisitions. Adelis today manages approximately €2 billion in capital. For more information, please visit www.adelisequity.com.

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Tesi exits semiconductor equipment company Picosun

Tesi

Picosun Oy has been acquired by Applied Materials, Inc., the leader in materials engineering solutions for semiconductors and advanced displays.

Based in Espoo and Masala, Kirkkonummi in Finland, Picosun is an innovator in atomic layer deposition (ALD) technology, primarily for specialty semiconductors. Picosun’s operations will continue in Finland as part of Applied Materials’ ICAPS (IoT, Communications, Automotive, Power and Sensors) group.

Prior to the acquisition, Picosun’s principal owner was Stephen Industries, Kustaa Poutiainen’s family office. Picosun’s other previous owners included R.Ruth Oy and Hannu Turunen, and more. Additionally, CapMan Growth Fund, First Fellow Partners and Tesi (Finnish Industry Investment Ltd) joined during the previous financing round in 2019. Dr. Tuomo Suntola, the recipient of the 2018 Millennium Technology Prize for his invention of ALD technology, was also an owner.

”It is truly wonderful to witness how Picosun, and with it a significant Finnish invention, will henceforth be part of a global leader in the semiconductor industry. The transaction also demonstrates the strength of Finnish tech know-how as well as the country’s attractiveness for investment. Although Tesi exists the investment, we are excited to see Picosun’s journey enter a new growth phase,” comments Miikka Salminen, Investment Manager at Tesi.

Read more:

 

Additional information:
Miikka Salminen, Investment Manager, Growth and Industrial Investments
miikka.salminen@tesi.fi
+358 40 535 4758

 

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, together with co-investors, to create the world’s new success stories. Our investments under management total 2.4 billion euros. www.tesi.fi | @TesiFII

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Nordic Capital sells its majority holding of industry service provider Quant

Nordic Capital

Nordic Capital has sold its majority shareholding of the multinational maintenance service provider Quant AB (publ) (“Quant”) after supporting the company through an extensive transformation as an active and responsible owner for a period of six years. Permira Credit is now Quant’s majority shareholder as the company enters the next phase of its journey.

Nordic Capital Fund VIII acquired Quant, formerly known as ABB Full Service, as a carve-out from the ABB Group in 2014. This marked the start of an extensive transformation process and creation of a strong independent company within industrial maintenance under the name Quant. During Nordic Capital’s six years of ownership, Quant has sharpened its geographical focus, streamlined its organisation, and developed a multinational contract portfolio that is growing. Today, Quant is a leading service provider in industrial maintenance, maintaining and improving of safety, production and equipment performance around the world.

Quant is now ready to enter the next phase of its development and to continue to deliver on its strategy. Following today’s completion of the sale, Permira Credit is Quant’s new majority shareholder, and Nordic Capital will remain as a minority shareholder.

The terms of the transaction are not being disclosed.

 

Press contact:

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: 08-440 50 50
e-mail: katarina.janerud@nordiccapital.com

 

About Quant

Quant is a leading multinational maintenance service provider, maintaining and improving the safety, production and equipment performance for over 400 facilities around the world. The company offers maintenance services within a wide range of industries, including pulp and paper, mining and minerals, chemicals, food and beverages. The core of Quant’s value proposition consists of improving safety, creating organizational equity, driving plant performance, and cost alignment. The approach is to view the maintenance function as a profit contributor, and not as a cost center, with Quant as the partner driving this transformation. Quant has more than three decades of experience, 2 400 employees and is headquartered in Stockholm, Sweden.

About Nordic Capital
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 20 billion in over 125 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com

About Permira
Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds with total assets under management of €60bn+ and makes long-term majority and minority investments across two core asset classes, private equity and credit.
Permira Credit is one of Europe’s leading specialist credit investors, supporting businesses with flexible financing solutions across Direct Lending, CLO Management and Structured Credit. Established in 2007, the firm advises investment funds and products which have provided more than €14bn of debt capital to over 300 European businesses.
Permira employs over 450 people in 16 offices across Europe, the United States and Asia. For more information, visit www.permira.com.

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AnaCap signs agreement with Nets, part of Nexi Group, for the acquisition of its digital invoice distribution and bill payment solutions business EDIGard

Anacap
  • EDIGard is a leading pan-Nordic end-to-end SaaS platform covering the full bill payments ecosystem for enterprises and SMEs
  • AnaCap to back ambitious entrepreneurial management team to drive further growth in additional European jurisdictions

AnaCap Financial Partners (“AnaCap”), a leading specialist mid-market private equity investor in technology enabled companies across financial and related business services, today announces that it has signed an agreement with Nets, part of Nexi Group, for the acquisition of its pan-Nordic digital invoice distribution platform and bill payment solutions business EDIGard AS (“EDIGard”).

EDIGard is headquartered in Norway and operates across Sweden, Denmark, Finland, UK and Germany. It comprises the EdiEX branded platform and is part of Nets Issuer & eSecurity Services umbrella. The decision to sell EDIGard resulted from a strategic review of the Nexi Group’s perimeter following the completion of the mergers with Nets and SIA.

EDIGard’s software platform ediEX, is an end-to-end invoicing platform that is strongly integrated with clients’ enterprise resource planning (“ERPs”) and accounting software. It enables customers to optimise the invoicing process as a whole whilst also providing wider services such as payment service provider (“PSP”) integration, payment reminders and invoice reconciliation.

EDIGard strategically focuses on addressing the invoicing requirements of large enterprises such as banks, utilities, debt collection (low-ticket, high volume, recurring invoices) whilst also serving local SMEs via its partner network.

Tassilo Arnhold, Partner & Alberto Sainaghi, Investment Director at AnaCap, commented: 

“We are delighted to sign an agreement for EDIGard and partner with this already strong management team that in recent years has achieved impressive growth across the Nordics. We strongly believe that the business aligns with a number of AnaCap’s core strengths including the continuous demand for the adoption of tech-enabled and digitalisation processes, new payment integration methods and a general focus on the broader invoicing ecosystem.”

Rune Løbersli, Chief Executive Officer at EDIGard, concluded:

“EDIGard has great scope to continue its recent successes and evolution across the Nordics and further internationalise its offering into additional European jurisdictions. We have found in AnaCap the right partner to continue this expansion given their impressive track record in building businesses with high growth potential in tech-enabled financial services and its activity in the payments sector across Europe more broadly.”

Jun 16 2022

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