Category Archives: News

Eclecticiq raises €20 million in series C funding

Arches Capital

Investment led by Ace Management.
Total investment in the organization over four-year period tops €47 million.

Amsterdam – 1 December 2020 – EclecticIQ, a global threat intelligence, hunting and response technology provider, has raised €20 million ($24 million) in Series C financing, led by Ace Management, Europe’s leading cyber growth investor.

Other contributors to the funding round include Capricorn Digital Growth Fund and Quest for Growth, Invest-NL, Arches Capital and existing investors INKEF Capital, KEEN Venture Partners and KPN ventures. This brings the company’s total funding raised to €47 million over a four-year period, making it among the best funded global cybersecurity scale-ups based in Europe.

Funding will go towards deepening the company’s commitment to government, large enterprises and service providers, expanding its portfolio and increasing the company’s global footprint. With this investment EclecticIQ will accelerate its strategy to transform from a leading threat intelligence platform vendor into an innovative cybersecurity leader across the globe.

As cyber threats continue to evolve rapidly, intelligence-led cybersecurity has become the norm. EclecticIQ’s growing customer base relies on its threat intelligence platform as the single source of truth for cyber threats and incidents. The financing will drive further innovation of the platform with new use cases, enabling governments, large enterprises and service providers to effectively manage threat intelligence, create situational awareness and adopt an intelligence-led cybersecurity approach.

Having mastered threat intelligence technology, the company sees adjacent opportunities in operationalizing threat intelligence, as this is a problem that has not been solved in the market yet. With the recent acquisition of PolyLogyx’s end-point technology, the company is well positioned to develop new solutions that re-imagine how organizations detect, hunt and respond to sophisticated threats.

To accelerate growth, EclecticIQ will use the funding to expand its commercial teams in Europe and the United States, and establish a presence in the Middle East, Africa and Asia Pacific. Leveraging its experience with governments, and some of the most targeted

enterprises globally, the company will expand its focus to new segments and strengthen its global partner ecosystem.

We are convinced that Ace Management’s new investment will help the company to improve and accelerate its solutions that enable the world’s biggest governments and commercial enterprises to identify and protect against the most intense cyber threats.

François Lavaste, Partner at Ace Management

François Lavaste, Partner at Ace Management who will join EclecticIQ’s board of directors.

It is exciting to bring in a high-caliber cyber investor like Ace Management, which shares our vision of threat intelligence at the core of cybersecurity, and sees the opportunity to transform the industry by solving massive challenges faced in threat detection, hunting and response. This financial investment will enable EclecticIQ to drive the industry forward and support our clients more effectively facing an ever-evolving threat landscape.

Joep Gommers, EclecticIQ’s co-founder and chief executive officer

EclecticIQ has seen impressive growth over the years:

  • Growth: In 2019, the company grew its revenue by 84 percent by successfully expanding the company’s market segments from government to larger financial organizations, telecoms and big tech companies.
  • Product: EclecticIQ is continuing to push the envelope, with a new intelligence ingestion engine introduced to the EclecticIQ Platform, improving robustness and scalability of the company’s core threat intelligence technology.
  • Industry alliances: The company is a sponsor member of OASIS, EclecticIQ joined the Open Cybersecurity Alliance (OCA), along with some of the biggest names in cybersecurity.
  • Leadership: The company further strengthened its leadership team, adding Wytse Bouma (ex Rockstart) as CFO, and Ciaran Bradley (ex Adaptive Mobile, Kemp) as CTO.
  • Board: Three new members have been appointed to its board: Ben Verwaayen (KEEN Venture Partners, previously CEO of BT Group PLC Alcatel-Lucent, President of KPN Telecom and Vice-Chairman of Lucent Technologies), François Lavaste (Partner, Ace Management) and Katrin Geyskens (Partner, Capricorn Partners). The Board is chaired by Sam van der Feltz (ex Unilever, TNS & EMI).

Bryan, Garnier & Co acted as sole financial advisor and sole placement agent for EclecticIQ.

About EclecticIQ
EclecticIQ is a global threat intelligence, hunting and response technology provider. Its clients are some of the most targeted organizations, globally. To build tomorrow’s defenses today, these organizations have to understand the threats against them – and align their efforts and investments to mitigate their risks. EclecticIQ helps governments, large enterprises and service providers effectively manage threat intelligence, create situational awareness and adopt an intelligence-led cybersecurity approach. The company extended its focus towards hunting and response with the acquisition of Polylogyx’s end-point technology in 2020. Founded in 2014, EclecticIQ operates globally with offices across Europe, North America, and via certified value-add partners.

For more information, visit www.eclecticiq.com.

About Ace Management
Ace Management, a subsidiary of Tikehau Capital, is a private equity firm specialised in strategic industries and technologies, with over €1Bn in assets under management.

Founded in 2000, Ace invests through sector-focused approaches (midmarket private equity in Aerospace & Defence and venture and growth capital investments in Cybersecurity / Digital Trust). Ace has built its model on strategic partnerships with large corporates (including Airbus, Safran, Dassault Aviation, Thales, EDF, Naval Group, Sopra Steria), which invest in its funds and maintain an ongoing dialogue with the firm, enabling Ace to take a differentiated approach to investing. Ace operates offices in Paris (HQ), Toulouse, Bordeaux and Montréal, and benefits from the worldwide presence of Tikehau Capital.

For more information, visit www.acemanagement.fr.

About Capricorn Partners
Capricorn Partners is an independent European manager of venture capital and equity funds, investing in innovative European companies with technology as competitive advantage. The investment team of Capricorn is composed of experienced investment managers with deep technology expertise and a broad industrial experience. Capricorn Partners is managing the venture capital funds Capricorn Digital Growth Fund, Capricorn Sustainable Chemistry Fund, Capricorn ICT Arkiv, Capricorn Health-tech Fund, Capricorn Cleantech Fund and Capricorn Fusion China Fund. In addition, it is the management company of Quest for Growth, quoted on NYSE Euronext Brussels, and the investment manager of Quest Cleantech Fund and Quest+, sub-funds of Quest Management SICAV, registered in Luxembourg.

For more information, visit https://capricorn.be.

About Invest-NL
Invest-NL is an impact investor committed to businesses and projects that will make the Netherlands more sustainable and innovative. Its focus lies on the energy transition and on innovative, fast-growing companies, or scale-ups. Invest-NL supports innovative entrepreneurs through financing and advice according to one simple principle: impact is our goal, return is our means. As the Dutch partner for European investment institutions, Invest- NL is dedicated to cooperation and always works together with other investors. Invest-NL is headquartered in Amsterdam and employs a staff of 50 people.

For more information, visit http://www.invest-nl.nl

About Arches Capital
Arches Capital is a fast-growing group of business angels that invests in startup and scale-up companies with a large growth potential. Through its investments Arches Capital bridges the gap between formal investors (VCs) and informal investors (business angels), by joining the best of both worlds:

“ We source, select and invest like a VC;
We engage, care and inspire as the angel we are. ”

Arches Capital differentiates itself by bringing superior deal flow, professional knowledge and a lower risk profile to the participating angel investors, while supporting its successful portfolio companies from start to exit through follow-on investments. For this Arches Capital is building the leading platform of actively engaged business angels that know how to operate and manage their investments in a professional and standardized manner.

For more information, visit www.arches.capital.

Categories: News

Tags:

Onex Partners Announces Secondary Sale of SIG Combibloc

Onex

Toronto,December 1, 2020–

Onex Corporation (“Onex”) (TSX: ONEX)and its affiliated funds(the “Onex Group”)today announced they sold their remaining approximately 32.3million shares of SIG Combibloc Group (“SIG”) (SIX: SIGN), a leading systems and solutions provider for aseptic carton packaging. After this sale,the Onex Group will cease to hold any shares of SIG.

Nigel Wright, Senior Managing Director of OnexPartners, commented, “With this sale we have exited our investment in SIG Combibloc. We are honoured to have been part of SIG’s journey over thelastnearly six years, as it has grown around the world, expanded its product portfolio,and continued to offer first-rate solutions to its customers. We wish everyone at SIG the best of success in the years to come.”
At the transaction price of CHF 20.35 per share, gross proceeds to the Onex Group will be approximately $725 million, of which Onex’ share will be approximately $225 million as a Limited Partner in Onex Partners IV and as a co-investor.
The transaction, which was made through an accelerated bookbuilding process to institutional investors, is expected to close on December 3, 2020, subject to customary closing conditions.

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any of these securities in the United States, Australia, Canada or Japan or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification or the publication of a prospectus under the securities laws of any such jurisdiction. The securities may not be offered or sold in the United States absent registration or an applicable exemption from United States registration requirements. No public offer of securities is to be made in the United States, Australia, Canada or Japan. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law.
This announcement is not an offer of securities for sale in or into the United States. The shares of SIG have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or under the laws of any State of the United States and may not be offered or sold in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. No public offering of securities will be made in the United States.

This announcement and any offer of securities to which it relates are only addressed to and directed at persons who are (1) qualified investors as defined under Regulation (EU) 2017/1129 (the “Prospectus Regulation”) and (2) who have professional experience in matters relating to investments who fall within article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or are persons falling within article 49(2)(A) to (D) (“High net worth companies, unincorporated associations, etc.”) of the Order or are persons to whom an offer of the placement shares may otherwise lawfully be made.

With respect to each member state of the European Economic Area and the United Kingdom (each a “Relevant State”), no offer of the shares has been made and will not be made to the public in that Relevant State in accordance with the Prospectus Regulation, no action has been undertaken or will be undertaken to make an offer to the public of the shares sold by the investors requiring a publication of a prospectus in any Relevant State. As a consequence, the shares may only be offered or sold in any Relevant State pursuant to an exemption under the Prospectus Regulation.

No action has been taken by Onex or any of its affiliates that would permit an offering of such shares or possession or distribution of this announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by Onex to inform themselves about, and to observe, any such restrictions. Persons (including, without limitation, nominees and trustees) who have a contractual or other legal obligation to forward a copy of this announcement should seek appropriate advice before taking any action.

About Onex
Founded in 1984, Onex invests and manages capital on behalf of its shareholders, institutional investors and high net worth clients from around the world. Onex’ platforms include: Onex Partners, private equity funds focused on larger opportunities in North America and Europe; ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through collateralized loan obligations, senior loan strategies and other private credit strategies; and Gluskin Sheff’s wealth management services including its actively managed public equity and public credit funds. In total, Onex has approximately $36.6 billion of assets under management, of which approximately $6.7 billion is its own shareholder capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.
The Onex Partners and ONCAP businesses have assets of $36 billion, generate annual revenues of $22 billion and employ approximately 149,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

Forward-Looking Statements
This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as “believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release.

For Further Information
Jill Homenuk
Managing Director, Shareholder Relations and Communications
Tel: 416.362.7711

Categories: News

Tags:

Nordic Capital adds additional firepower to Siteimprove with Morten Hübbe as new Chairman and new partnership with Chr. Augustinus Fabrikker

Nordic Capital

November 30 2020
Nordic Capital adds additional firepower to Siteimprove with Morten Hübbe as new Chairman and new partnership with Chr. Augustinus Fabrikker Image

 

Nordic Capital-backed Siteimprove, a leader in website experience and digital marketing optimisation, has appointed Morten Hübbe as its new Chairman to accelerate growth. Morten Hübbe brings significant experience within financial services, software and technology as the Group CEO of Tryg and Deputy Chairman of SimCorp. In addition, Danish-based Chr. Augustinus Fabrikker, with a focus on long-term ownership of Danish businesses, will become a strategic minority partner in Siteimprove to further support international expansion.  

“Siteimprove is one of the leading SaaS companies globally with great potential for further growth. It has a world class product offering which reduces inequality in society by helping people with disabilities gain access to a digitalised world and it also drives growth across essential digital disciplines. Nordic Capital is enthusiastic about bringing further expertise to expand Siteimprove’s offering and international footprint. Morten Hübbe is a very experienced leader in the software and tech space and brings a unique set of skills and experience that will help Siteimprove scale and grow”, says Fredrik Näslund, Partner and Head of Technology and Payments, Nordic Capital Advisors.

Morten Hübbe is Group CEO of Tryg, one of the largest non-life insurance companies in the Nordic region and Deputy Chairman of SimCorp, one of the world’s leading provider of integrated investment management solutions. He has a proven track record of building strong fintech businesses. Morten holds 25+ years of insurance experience, of which nearly 20 years have been at the top executive level. In addition, he has Supervisory Board experience in Banking, Software and IT development. He has also recently been appointed the new Chairman of Conscia, another Nordic Capital portfolio company.

“Siteimprove is one of the fastest growing software companies in Denmark and it is truly exciting to be appointed Chairman of Siteimprove. The task is to continue growing on the back of Siteimprove’s strong people and product offering, its exciting customer portfolio and solid business plan. I’m looking forward to supporting the company with my experience on this journey,” says Morten Hübbe.

Siteimprove was founded in 2003 by its CEO Morten Ebbesen, and is headquartered in Copenhagen, Denmark. Since inception, the company has grown steadily, and today has offices across Europe, North America and Asia. Siteimprove has 550 employees in 15 countries and over 7,200 customers globally. The Company’s customer base derives mainly from financial services, healthcare, and the public sector, and includes some of the most well-respected organisations in the world.

In October 2020, Nordic Capital became the majority owner in close partnership with the CEO and founder Morten Ebbesen. In addition, Chr. Augustinus Fabrikker, a well-established and dedicated long-term owner of Danish-based businesses, will now become a strategic minority owner to support sustainable value creation.

“Firstly, we are truly impressed with the competences and innovation power that we discovered in Siteimprove, and secondly, for Chr. Augustinus Fabrikker, this is a chance to actively invest in a company that wants to grow internationally from their Danish base. That is the kind of situation that we exist to support,” says Claus Gregersen, CEO, Chr. Augustinus Fabrikker.

Technology & Payments is one of Nordic Capital’s focus sectors where it has extensive experience, a strong and active sector network, and a dedicated team with local presence across Northern Europe. Since 2018, Nordic Capital has made 18 platform investments in this sector including former and current investments such as Bambora, Trustly, Conscia, BOARD International and Signicat.

Footnote: “Nordic Capital” refers to any, or all, Nordic Capital branded or associated investment vehicles and their associated management entities. Nordic Capital is advised by several non-discretionary sub-advisory entities, any or all of which is referred to as “Nordic Capital Advisors”.

Press contacts

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

Siteimprove
Jesper Termansen, Chief Marketing Officer
Tel: +45 2479 8646
e-mail: jte@siteimprove.com

Chr. Augustinus Fabrikker
Tel: +45 3314 7222
e-mail: info@augustinusfabrikker.dk

About Siteimprove

Siteimprove is a SaaS solution that helps organisations achieve their digital potential by empowering teams with actionable insights to deliver a superior website experience and drive growth. Siteimprove has 550+ employees across 13 offices, helping over 7,200 customers globally. The company has 17+ years of digital expertise and partners with leading organizations such as the W3C, the UN, and Adobe. They also offer best-in-class technical support, academy courses, services, and technology integrations. www.siteimprove.com

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. Core sectors are Healthcare, Technology & Payments, Financial Services and Industrials & Business Services. Key regions are Northern Europe and globally for Healthcare. Since inception in 1989, Nordic Capital has invested more than EUR 15 billion in over 110 investments. The Nordic Capital vehicles are based in Jersey. They are advised by several non-discretionary sub-advisory entities based in Sweden, Denmark, Finland, Norway, Germany, the UK and the US, any or all of which are referred to as Nordic Capital Advisors. For further information about Nordic Capital, please visit www.nordiccapital.com

About Chr. Augustinus Fabrikker

Chr. Augustinus Fabrikker is a subsidiary of the Augustinus Foundation, which is among the largest cultural foundations in Denmark. The industrial heritage stems from 1750 and the focus on value creation is based on this long-term tradition. As part of a strategy to be a long-term, committed and value-adding owner, the portfolio comprises considerable ownership in successful and iconic Danish businesses such as Tivoli, Jeudan, Royal Unibrew, STG, the furniture companies Fritz Hansen and GUBI as well as Gyldendal. Through ownerships the aim is to create value for the benefit of both Danish businesses and society. With a balance of more than DKK 30 billion, it is Chr. Augustinus Fabrikker’s investment return which facilitates the significant non-profit cultural, social and research-related pursuits of the Foundation. For further information about Chr. Augustinus Fabrikker, please visit www.augustinusfabrikker.dk/en

Categories: News People

Tags:

EQT AB’s Nomination Committee for the Annual Shareholders’ Meeting 2021

eqt

EQT AB’s Nomination Committee for the Annual Shareholders’ Meeting 2021 has been appointed based on the ownership structure as of 31 August 2020.

The Nomination Committee consists of
Jacob Wallenberg (Chairperson), appointed by Investor AB
Harry Klagsbrun, appointed by Bark Partners AB
Magnus Billing, appointed by Alecta
Kine Burøy-Olsen, appointed by Lennart Blecher
Conni Jonsson, Chairperson of the Board of EQT AB

As of 31 August 2020, shareholders having appointed members to the Nomination Committee represented approximately 38 percent of the voting rights for all shares of EQT AB.

The Annual Shareholders’ Meeting of EQT AB will be held on Wednesday, 2 June 2021.

Shareholders who would like to submit proposals to the Nomination Committee can do so by e-mail to nomination.committee@eqtgroup.com, or by ordinary mail under the address: EQT AB, Attn: Nomination committee, Box 164 09, 103 27 Stockholm, Sweden, by 7 April 2021, at the latest.

Contact
Lena Almefelt, General Counsel, +46 70 87 75 352
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
Nina Nornholm, Head of Communications, +46 70 855 03 56
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with a 25-year track-record of consistent investment performance across multiple geographies, sectors, and strategies. EQT has raised more than EUR 75 billion since inception and currently has more than EUR 46 billion in assets under management across 16 active funds within two business segments – Private Capital and Real Assets.

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

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 16 countries across Europe, Asia Pacific and North America with more than 700 employees.

More info: www.eqtgroup.com

Follow EQT on LinkedIn, Twitter, YouTube and InstagramT

Categories: News

Blackstone Announces Agreement to Acquire DCI, a Pioneer in Technology-driven, Quantitative Credit Investing

Blackstone

NEW YORK, November 30, 2020 – Blackstone (NYSE:BX) today announced that it has agreed to acquire DCI, a pioneer in quantitative credit investing with approximately $7.5 billion in AUM across the global investment grade, high yield and emerging corporate credit markets. The firm, based in San Francisco, applies a proprietary, fundamental-based, technology-driven model to deliver differentiated returns to clients. DCI is led by a team of seasoned professionals who are recognized experts in quantitative and systematic fixed income research.

DCI will become part of Blackstone Credit, a global leader in private lending, syndicated leveraged loans and collateralized loan obligations. The transaction will broaden Blackstone Credit’s capabilities in high yield and investment grade, enable the integration of DCI’s models and technology across the combined Blackstone Credit and DCI platforms and increase access to investors via a UCITs platform. DCI’s investment process will benefit from Blackstone’s resources, scale and deep relationships across global financial markets.

Dwight Scott, Global Head of Blackstone Credit, said: “DCI has a more than 15-year track record of developing and applying technology-driven strategies and is at the forefront of the evolution towards quantitative investing in the corporate bond market. DCI will strengthen and differentiate the solutions we provide to our retail, institutional and insurance clients.”

Tim Kasta, CEO of DCI, said: “Joining Blackstone Credit will provide DCI’s team and investors with access to unparalleled institutional resources and asset management expertise and accelerate the development of innovative solutions in corporate credit.”

Blackstone Credit is one of the world’s largest credit-focused asset managers, with $135 billion in AUM and a team of over 350 professionals (as of September 30, 2020). Its strategies cover the corporate credit market, with leading positions in both liquid and private markets.

About DCI
DCI is an independent asset management firm specializing in investment grade, high yield, and emerging market corporate credit strategies. The firm manages long-only and long/short strategies for some of the world’s largest institutional and private wealth investors. DCI deploys a fundamental based, systematic approach seeking to exploit potential inefficiencies in the corporate credit markets. DCI was awarded the Hedge Fund Journal’s “Corporate Credit – Market Neutral, Best Performing Fund in 2019 and over 2, 3, 4, 5, and 7 Year Periods” for the DCI Market Neutral Credit Fund (UCITS). This is the 4th consecutive year DCI has been presented with this award. DCI was co-founded in 2004 by Stephen Kealhofer, Mac McQuown and David Solo.

About Blackstone
Blackstone is one of the world’s leading investment firms. 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 $584 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.

Contact
Kate Holderness
Kate.holderness@blackstone.com
917-318-6818

Categories: News

Tags:

CBPE to realise its investment in Compre Group

CBPE

CBPE Capital LLP (“CBPE”) is pleased to announce that it has exchanged contracts on the sale of Compre Group (“Compre”) to Cinven and British Columbia Investment Management Corporation (“BCI”).  The sale is expected to complete in 2021, following the receipt of regulatory approvals.

Terms of the transaction have not been disclosed.

Compre is a leading insurance specialist with over 30 years of experience in the acquisition and management of discontinued and legacy non-life insurance and reinsurance portfolios. The business manages a wide range of insurance classes, from marine through to motor, with operations in Finland, Germany, Malta, Switzerland, Bermuda and the UK.

CBPE invested in Compre in 2015 at a time when the introduction of Solvency II regulations was fuelling an associated increase in the demand for legacy services.  Since investing, CBPE has supported the development of a multi-jurisdictional platform with an efficient approach to originating and executing acquisitions and a highly professional approach to claims management. This has included a comprehensive restructuring of the Group’s regional European insurance carrier structure to improve capital efficiency. CBPE has also proactively enhanced the senior management team with the introduction of several new and experienced Board members.

Under CBPE ownership, Compre was able to complete and integrate 21 acquisitions over five years resulting in a fourfold increase in Net Tangible Asset Value.

Will Bridger, CEO of Compre Group, said:

“The business has transformed during CBPE’s investment period and, as an investor, they have encouraged and supported us in realising our growth ambitions and in expanding into new juristictions and new insurance markets. We now have the foundations for significant future growth.”

Mathew Hutchinson and Richard Thompson, Partners at CBPE, said:

“We have enjoyed working with a great management team at Compre. The past five years have seen the business develop and grow significantly, and we are incredibly proud of what has been achieved and the quality of the platform that we have built.”

Following the completion of the sale of Compre, CBPE will have realised 11 of the 13 investments in CBPE Capital Fund VIII generating a 2.5x multiple of invested capital.

The exit continues CBPE’s strong track record of investing in the financial services sector.  The realisation of Compre follows the earlier sucessful exits of Xafinity and JTC from Fund VIII.  Current investments in the financial services sector include Centralis Group and Perspective Financial Group.

CBPE’s investment in Compre Group was led by Mathew Hutchinson and Richard Thompson with support from Harry Hewlett.

CBPE and the shareholders were advised by Canaccord Genuity (corporate finance), Reed Smith (legal), PwC (Financial and commercial diligence), EY (actuarial diligence) and DLA Piper (legal diligence).

Management were advised by Liberty Corporate Finance (equity terms), DLA Piper (legal) and Capstar (communications).

Contact: Mathew Hutchinson
Date: Nov 30, 2020

Categories: News

Tags:

Francisco Partners to Acquire International Business of CDK Global for $1.45 Billion

Franciso Partners

Press Release – November 30 2020

Unique Opportunity to Acquire Leading Provider of Automotive Retail Software in EMEA and Asia and Accelerate Product Development and Growth in Support of Industry Transformation

LONDON AND SAN FRANCISCO — Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, announced today the execution of a definitive agreement with CDK Global, Inc. (Nasdaq:CDK) to acquire CDK’s International business segment (“CDKI”), a leading provider of automotive retail software solutions in EMEA and Asia, for $1.45 billion.

“The automotive retail experience is undergoing dramatic change. With its leading market position in EMEA and Asia, we believe CDKI is uniquely placed to support this transformation in these regions, and that by becoming a standalone company it will better be able to execute on this exciting opportunity,” said Petri Oksanen, Partner at Francisco Partners, who will join the CDKI board of directors upon closing of the transaction. “We look forward to working closely with the CDKI team and both their dealer and OEM customers – as well as the broader ecosystem – to provide the technologies and solutions needed through both organic development and add-on acquisitions to successfully deliver on this ongoing industry transformation.”

“We are impressed with the recent product developments and innovation at CDKI,” added Matt Spetzler, Partner at Francisco Partners, who will also join the CDKI board at closing. “We believe the CDKI team has a sound strategy and strong foundation to leverage towards the goal of becoming the future automotive retail software platform of choice. We will seek to utilize our substantial resources and experience in helping other similarly situated software companies to accelerate the realization of CDKI’s vision.”

“For the last two decades, first with ADP and then with CDK Global, CDKI has operated effectively as an independent unit with different products and solutions, customers, and geographies,” said Neil Packham, President, CDK Global International. “We are excited about the partnership with Francisco Partners and how we can accelerate our strategic journey and growth potential as an independent company. With its broad portfolio, Francisco Partners brings a wealth of transformation experience and relationships to benefit our business for the future opportunities and challenges we face. And like us, they believe in delivering excellent service and products and are committed to outstanding customer service.”

Francisco Partners is being advised by Portico Capital as its financial advisor, RL Frey Inc., and Paul Hastings LLP and Kirkland & Ellis as legal counsel. The transaction is subject to customary regulatory review.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has raised over $24 billion in committed capital and invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit franciscopartners.com.

About CDK Global

With $2 billion in revenues, CDK Global (NASDAQ:CDK) is a leading global provider of integrated information technology solutions to the automotive retail and adjacent industries. Focused on enabling end-to-end automotive commerce, CDK Global provides solutions to dealers in more than 100 countries around the world, serving approximately 30,000 retail locations and most automotive manufacturers. CDK solutions automate and integrate all parts of the dealership and buying process, including the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles. Visit cdkglobal.com.

Categories: News

Tags:

Conscia appoints Morten Hübbe as new Chairman to accelerate growth

Nordic Capital

Conscia appoints Morten Hübbe as new Chairman to accelerate growth Image

 

“Nordic Capital is excited to be part of Conscia’s growth journey, supporting the business through its continued international expansion strategy whilst also strengthening its offering within cybersecurity, multi-cloud and managed services. Morten is a very experienced leader and brings a unique set of skills and experience when it comes to digitalisation and security. We are confident that he will bring very valuable expertise to further support Conscia on its growth journey,” said Fredrik Näslund, Partner, Nordic Capital Advisors.

Morten Hübbe is Group CEO of Tryg, one of the largest non-life insurance companies in the Nordic region and Deputy Chairman of SimCorp, one of the world’s leading providers of integrated investment management solutions. He has a proven track record in building strong fintech businesses. Morten holds 25+ years of insurance experience, of which nearly 20 years have been at the top executive level. In addition, he has Supervisory Board experience from Banking, Software and IT development, for example in KBC, KMD and Zürich Financial Services.  He has also been recently appointed new Chairman of Siteimprove, another Nordic Capital portfolio company.

“Conscia is on a very strong growth trajectory, and I’m looking forward to supporting the Company with my experience in software, technology and entering new markets. I am delighted to be appointed Chairman of Conscia and looking forward to working with CEO Claus Thorsgaard and his management team and Nordic Capital,” says Morten Hübbe.

Morten will succeed Torben Munch as Chairman. Torben has chosen to step down to increase his focus on his operational role as CEO of MFEX and Chairman of Vizrt, both Nordic Capital portfolio companies.

“Nordic Capital like to take this opportunity to thank Torben Munch for his great contributions as Chairman of Conscia,” Fredrik Näslund adds.

Conscia is a leading European provider of security and IT Infrastructure Solutions based on technology from Cisco, complemented with other leading technology partners. Conscia was founded in 2003 in Denmark. Today, Conscia has approximately 750 employees in six countries (Denmark, Sweden, Norway, the Netherlands, Germany and Slovenia) with a total turnover of approx. DKK 2.5 billion (c. EUR 335 mn). In 2019, Nordic Capital acquired Conscia and has, in close partnership with the management team, supported its continued expansion and invested to further strengthen its market leading position and service offering.

Technology & Payments is one of Nordic Capital’s focus sectors where it has extensive experience, a strong and active sector network, and a dedicated team with local presence across Northern Europe. Since 2018, Nordic Capital has made 18 platform investments in this sector including former and current investments such as Bambora, Trustly, Conscia, BOARD International and Signicat.

Footnote: “Nordic Capital” refers to any, or all, Nordic Capital branded or associated investment vehicles and their associated management entities. Nordic Capital is advised by several non-discretionary sub-advisory entities, any or all of which is referred to as “Nordic Capital Advisors”.

Press contacts

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

Conscia

Janni Bilenberg, CMO
Tel: +45 3119 2845
e-mail: jbi@conscia.com

About Conscia

Conscia is a Network of Knowledge and an ICT service provider that specialises in cyber security, IT infrastructure solutions, and managed services. As a trusted advisor Conscia strives to support the customers ‘business-critical IT infrastructure’ across the entire value chain from design, implementation, operation and optimization. The ambition is supported by profound technical competencies and insight, which is displayed through the unique customer portal, this also forms the basis for the best customer experiences and the highest customer satisfaction in the industry. Another strategic goal for Conscia is to be the most attractive workplace for talented IT infrastructure specialists in Europe. Currently Conscia Group has more than 750 employees across six countries (Denmark, Sweden, Norway, Germany, Netherlands, and Slovenia), with an annual turnover of approximately DKK 2,5bn DKK (€335mm). For more information, please visit Conscia.com

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. Core sectors are Healthcare, Technology & Payments, Financial Services and Industrials & Business Services. Key regions are Northern Europe and globally for Healthcare. Since inception in 1989, Nordic Capital has invested more than EUR 15 billion in over 110 investments. The Nordic Capital vehicles are based in Jersey. They are advised by several non-discretionary sub-advisory entities based in Sweden, Denmark, Finland, Norway, Germany, the UK and the US, any or all of which are referred to as Nordic Capital Advisors. For further information about Nordic Capital, please visit nordiccapital.com

Categories: News

Tags:

Kinnevik leads funding round in HungryPanda

Kinnevik

30 Nov 2020, 9:00 AM

Kinnevik AB (publ) (“Kinnevik”) today announced that it is investing USD 35m in a USD 70m funding round in HungryPanda, the global leader in online Asian food delivery.

HungryPanda provides a specialist online ordering platform for Chinese customers living abroad, with a tailored user experience, including language and payment options, to help overcome cultural barriers.

HungryPanda, headquartered in London, was launched in 2017 by Founder Eric Liu, a computer science graduate at the University of Nottingham who wanted to fix a problem he experienced first-hand – getting hold of authentic Chinese food on-demand away from home. The business has quickly grown 30x in three years with a 500-person strong team operating in 6 countries across the world.

The company’s community-focused approach allows it to create an attractive sub-segment within the overall online food delivery market. The business is already profitable in the UK and other major cities such as New York. The investment also furthers Kinnevik’s food strategy and complements our existing investments by adding exposure to the out-of-home space, particularly popular with younger users, in addition to our existing investments in online grocers focused on at-home cooking.

Kinnevik is joining previous investors 83North and Felix Capital, who between them have experience of building sector-leading platforms including Wolt, Deliveroo and Just Eat. Other investors joining this round include Piton Capital, VNV Global and BurdaPrincipal Investments.

Kinnevik CEO Georgi Ganev commented: “As digital adoption advances, we see an opportunity for community-oriented marketplaces that have a deeper understanding of targeted audiences and a more tailored product. We have been impressed by how Eric and team have leveraged their first-hand user empathy to rapidly scale HungryPanda while remaining capital efficient. We look forward to helping the team expand across products, regions and audiences.”

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to make people’s lives better by providing more and better choice. In partnership with talented founders and management teams we build challenger businesses that use disruptive technology to address material, everyday consumer needs. As active owners, we believe in delivering both shareholder and social value by building long-term sustainable businesses that contribute positively to society. We invest in Europe, with a focus on the Nordics, the US, and selectively in other markets. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

Categories: News

Tags:

Gimv is founding investor of Kinaset Therapeutics in a USD 40m Series A round – funds used to develop novel therapeutics for respiratory diseases

GIMV

30/11/2020 – 08:00 | Portfolio

Gimv invests in Kinaset Therapeutics alongside 5AM Ventures and Atlas Venture in a USD 40m Series A round to support the clinical development of KN-002, a novel dry powder inhalable pan-JAK inhibitor, for the treatment of eosinophilic and non-eosinophilic severe asthma. 

Today, the Company also announced an exclusive global in-license and development agreement with Vectura Group plc (LSE: VEC) (“Vectura”) to develop and commercialize KN-002 (formerly known as VR588). A Phase 1/1b clinical trial in healthy volunteers and patients is poised to begin in the first half of 2021.

Kinaset Therapeutics intends to develop novel therapeutics that can positively impact people affected by intractable diseases, including severe asthma. Asthma is a complex and heterogeneous disease affecting over 300 million people worldwide, with approximately 10% of patients having severe asthma who suffer from frequent exacerbations, compromised lung function, and a reduced quality of life. The company is led by an experienced management team and board of directors with strong backgrounds in the development of respiratory therapeutics.

Bram Vanparys, Partner at Gimv, commented: “I am excited for Gimv to be part of Kinaset Therapeutics, and to support the company in bringing KN-002 to the clinic. Kinaset Therapeutics perfectly fits Gimv’s strategy of investing in drug development companies combining solid science, a strong data package and an experienced team.”

Thomas Harth, Senior Associate at Gimv, adds: “The best-in-class profile and tailormade dry-powder formulation captured our interest from the early start. Together with this very experienced and dedicated management team we are convinced KN-002 can make a real difference to severe asthma patients that have limited treatment options today.”

For further information, we refer to the company’s press release in attachment.

Categories: News

Tags: