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Tim and Ardian have finalized the investment in Inwit

Ardian

TIM holds 51% of the holding company with 30.2% of INWIT; the Consortium of investors led by Ardian holds the remaining 49%

Rome, 2 October 2020 – TIM and Ardian, a world-leading private investment house operating in the infrastructure sector, announce that they have finalised the agreement communicated last 24 June for a partial sharing of the investment in Infrastrutture Wireless Italiane S.p.A. (INWIT). The transaction consists of the purchase by a consortium of institutional investors led by Ardian of a 49% stake in Daphne 3, a newly-established holding company controlled by TIM, to which TIM has transferred a 30.2% stake in the share capital of INWIT. The holding company takes over from TIM – for the stake in INWIT transferred – in the shareholder agreement existing between TIM and Vodafone Europe B.V., by virtue of which they jointly control INWIT.

Relations between TIM (which retains control over the holding company) and the consortium led by Ardian are regulated by a specific shareholders’ agreement, the contents of which were disclosed to the market last 29 June.

The transaction does not entail any mandatory takeover bid, as confirmed by Consob, and has been approved in accordance with Golden Power regulations; the value of the transaction for TIM is 1.35 billion euros in respect of an INWIT share value of €9.47 (ex-dividend).

Of the remaining direct stake held by TIM in INWIT, equating to 3% of its capital, today 1.2% was sold for 109 million euros, to a vehicle managed and assisted by Canson Capital Partners (Guernsey) Limited, which also has an option to purchase the remaining 1.8% for a price of 161 million euros.

The Board of Directors of Daphne 3 has the following members: Marco Patuano (Chairman), Carlo Nardello (Chief Executive Officer), Davide Carlino, Sabrina Di Bartolomeo, Laurent Fayollas, Agostino Nuzzolo and Frédéric Jean Daniel Payet.

The investment in Daphne 3 represents the first step of a long-term partnership between TIM and Ardian, aimed at strengthening the leadership of INWIT on the Italian telecommunications market, leveraging the growth of data traffic and the new opportunities arising from the implementation of 5G.

Mathias Burghardt, Member of Ardian’s Executive Committee and Head of Ardian Infrastructure, said: “This investment of great strategic value further demonstrates our commitment to Italy, a core market for us in which we have been investing for more than a decade. Alongside major industrial partners, we have contributed to long-term sustainable growth plans and value creation for all stakeholders. We are very pleased to start building a strong partnership with TIM. Together with TIM and Vodafone, we will support the management team in the ambitious growth plan for this essential technological infrastructure”.

Since 2005 Ardian Infrastructure has made more than 45 investments for a total of 16 billion dollars, managed or advised, with a team of 40 professionals specialized in infrastructure investments worldwide. In Italy, always considered a key market, as a long-term strategic partner, since 2007 Ardian has invested approximately 3 billion euros in infrastructure activities, including the investment in INWIT.

ABOUT TIM

TIM is one of the top Information & Communication Technology companies in Europe and the market leader in Italy. It offers its customers fixed and mobile telecommunications, internet, premium digital entertainment content – through TIMVISION, TIMMUSIC and TIMGAMES – and advanced cloud-based platforms. All with flexible and customisable offers to meet the needs of families and businesses, on platforms accessible from a range of devices. TIM is included in the major international sustainability indexes and is committed to becoming the leading telco in the Eurozone in terms of sustainability and social responsibility. The Group includes TIM Brasil, one of the leading players on the Brazilian market; Sparkle, an international service provider and one of the top ten global operators worldwide, with a 540,000 km fibre network extending across Europe, the Americas, Africa and Asia; Olivetti, which operates in key sectors such as the Internet of Things and offering cutting-edge hardware and software.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$100bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 670 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT CANSON CAPITAL PARTNERS

Capital Partners is a leading alternative capital-focused Advisory and Merchant Banking firm. The company specialises in identifying alternative solution capital to develop strategic partnerships with businesses. Since 2017, Canson Capital Partners has advised on private equity-related transactions with an aggregate transaction value of over $54 billion.

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List of participants

  • Ardian Advisors:

    • Financial Advisor to the consortium led by Ardian: Nomura
    • Merchant Bank to the consortium led by Ardian: Canson Capital Partners
    • Financial Advisors to Ardian: Mediobanca and Vitale&Co
    • Legal Advisors: BonelliErede (Corporate), Legance-Avvocati Associati (Financing), Ashurst (Financing), Arendt (Structuring) and Weil, Gotshal & Manges (Governance at consortium level)

  • TIM Advisors:

    • Financial Advisors: Goldman Sachs International, BofA Securities
    • Legal Advisors: Gianni, Origoni, Grippo, Cappelli & Partners

Press Contact

TIM

@TIMnewsroom

+39 06 3688 2610

ARDIAN – Image Building

CRISTINA FOSSATI, LUISELLA MURTAS

ardian@imagebuilding.it +39 02 8901 1300

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Netwrix Receives Majority Investment From TA Associates

TA associates

Netwrix to use the investment to grow its portfolio of data security solutions to support current customers and to expand globally.

IRVINE, CA – Netwrix, a cybersecurity vendor that makes data security easy, today announced that TA Associates (“TA”), a leading global growth private equity firm, has completed a majority investment in the company. TA, together with the Netwrix executive management team, plan to accelerate Netwrix’s growth as the company aims to expand its portfolio of easy-to-use data security solutions to its customers globally. Members of Netwrix senior management and existing Netwrix investor Updata Partners will invest alongside TA, and will maintain a significant equity interest in the company. Financial terms of the transaction were not disclosed.

“Netwrix is thrilled to be working alongside TA as we enter our next phase of growth,” said Steve Dickson, chief executive officer of Netwrix. “The partnership with TA will provide Netwrix access to the firm’s global add-on acquisition origination and integration capabilities and deep experience in the security and horizontal application software markets, which we believe will position us for substantial organic and inorganic growth.”

While able to scale to the unique needs of large enterprises, Netwrix’s business model is ideal for the mid-market, which is defined as organizations with 500 to 10,000 employees. This underserved segment is in need of easy-to-use data security solutions to address growing security and privacy concerns. Until recently, governmental regulations, such as Sarbanes-Oxley, applied only to larger enterprises. However, with the growing number of privacy regulations, such as the GDPR and the CCPA, organizations of all sizes, including mid-market businesses, must take data security seriously.

“With its powerful, easy-to-use products and streamlined business model, Netwrix has become a leading provider of data security products for the mid-enterprise market,” said Michael Libert, a senior vice president at TA Associates. “Netwrix has an abundance of security, audit and compliance experience and more than 7,000 paying organizations that are deriving value from their experience with Netwrix.”

“Given the ongoing growth in the global data security market, we see ample new business opportunities for Netwrix,” added Harry Taylor, a managing director at TA Associates. “We are pleased to partner with Netwrix’s management team, alongside Updata Partners, and to collaborate on the company’s continued profitable growth.”

“It has been a pleasure working with the Netwrix team for the past three years and aiding in the company’s impressive and transformative growth,” said Jon Seeber, a general partner at Updata Partners. “With what we believe to be superior products and services, Netwrix has become a valued provider in security and compliance. We are pleased to welcome TA as an investor, and to continue our partnership with Netwrix.”

Joining the Netwrix board in conjunction with this transaction are Michael Libert, Harry Taylor and Amit Jain of TA Associates; and independent directors Dan Mayleben, chief executive officer at 2ndWave Software, and Matt Dircks, chief executive officer at BeyondTrust. They join existing board members Jon Seeber of Updata Partners, independent director Brian Turner and Steve Dickson of Netwrix.

About Netwrix
Netwrix makes data security easy, thereby simplifying how professionals can control sensitive, regulated and business-critical data, regardless of where it resides. More than 10,000 organizations worldwide rely on Netwrix solutions to secure sensitive data, realize the full business value of enterprise content, pass compliance audits with less effort and expense, and increase the productivity of IT teams and knowledge workers.
Founded in 2006, Netwrix has earned more than 150 industry awards and been named to both the Inc. 5000 and Deloitte Technology Fast 500 lists of the fastest growing companies in the U.S.
For more information, visit www.netwrix.com.

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 90 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

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Folmer Equity Fund II invests in Nanso and Vogue brands

Folmer

Folmer Equity Fund II Ky, a fund managed by the Finnish private equity company Folmer Management Oy, acquires a majority stake in Nanso Group Oy. Nanso Group is the owner of the Nanso and Vogue brands, which are among the most prestigious women’s clothing brands in Finland.
Together, Nanso Group Oy and Holmberg Brands Oy, a company already owned by the fund, form a significant entity in Finland with a broad brand portfolio and with expected current fiscal year revenue of ca. 28 MEUR and a total of 110 employees. The current majority owners of Nanso Group and minority owners of Holmberg Brands will continue with the new group as significant minority shareholders.
“The acquisition enables Holmberg Brands, the fund’s current portfolio company, to work even more closely with the Nanso Group and to fully develop the companies by realizing the synergies to full extent”, says Sami Tuominen, Managing Director and Partner of Folmer Management.
“The acquisition will ensure the long-term development of the Nanso and Vogue brands in the future and will significantly contribute to the acceleration of our growth strategy,” says Antti Rönkkö, Managing Director of Nanso Group.

For more information:
Managing Director, Partner Sami Tuominen, Folmer Management Oy, tel. +358 40 708 4905, sami.tuominen@folmer.fi
Managing Director Antti Rönkkö, Nanso Group Oy, tel. +358 50 5184 750, antti.ronkko@nansogroup.com

Nanso Group Oy, established in 1921, is a consumer driven brand company that operates two iconic, well-known fashion brands, Nanso and Vogue. Its products are known for unique patterns, high quality and timeless Finnish design. Vogue is one of the most prestigious hosiery brands in the Nordic countries. www.nanso.com www.vogue.fi
Holmberg Brands Oy has a wide selection of own and licensed brands. In addition, the company has its own design and production expertise, and it also acts as an importer of textiles and apparel products. www.holmbergbrands.fi

Folmer Management Oy is a Finnish private equity company investing in Finnish SMEs. Folmer creates value through active development work. Folmer provides companies with support and professional experience – a requirement for success. www.folmer.fi
Folmer Equity Fund II Ky benefits from the support of the European Union under the Equity Facility for Growth established under Regulation (EU) No 1287/2013 of the European Parliament and the Council establishing a Programme for the Competitiveness of Enterprises and small and medium enterprises (COSME) (2014-2020). Businesses can contact selected financial institutions in their country to access EU financing:

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Clarivate Completes Acquisition of CPA Global to Form a Global IP Powerhouse

Castik Capital

01.10.2020

Extract from original press release https://clarivate.com/news/clarivate-completes-acquisition-of-cpa-global-to-form-a-global-ip-powerhouse/

 

Clarivate Plc (NYSE: CCC), a global leader in providing trusted information and insights to accelerate the pace of innovation, announced today the completion of the previously announced acquisition of CPA Global, creating an intellectual property (“IP”) powerhouse.

[…]

Clarivate will now offer thousands of law firms and corporate customers world class IP solutions from leading brands covering patent and trademark research solutions, expanded IP services capabilities, IP management and renewal solutions and domain management, all underpinned by extensive human expertise, unparalleled data and powerful technology.

[…]

Together, CPA Global and Clarivate will form a true end-to-end solution that covers the entire innovation and IP lifecycle – from scientific and academic research to IP portfolio management and protection. The proposed combination of market-leading intellectual property software, data, technology and services will provide customers with seamless access to richer content and broader capabilities as they execute on their innovation and IP strategies.*

In connection with the transaction, former CPA Global shareholders (including Leonard Green & Partners along with funds advised by Castik Capital and Partners Group) received approximately 217 million Clarivate ordinary shares, representing 35% pro forma fully diluted ownership of Clarivate.

[…]

*Extract from https://www.castik.com/news/news-detail/clarivate-to-combine-with-cpa-global-creating-a-world-leader-in-intellectual-property-information-and-service

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Reshaping the world of fitness

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Gp Bullhound

Berlin, 1 October 2020
GP Bullhound acted as exclusive financial adviser to the shareholders of 7NXT Group (“7NXT”), a leading German online fitness and nutrition company with its headquarters in Berlin, on the sale of a majority stake to the London-based private equity firm Oakley Capital. Markan Karajica will continue in his role as CEO and will retain a significant minority stake in the business.

Since 2015, 7NXT has reshaped the world of fitness with its portfolio of three companies focusing on the fitness and well-being market. Gymondo is the leading digital fitness subscription platform in the German-speaking market, offering access to premium video content, personalised coaching and nutrition plans.

The direct-to-consumer nutrition brand Shape Republic offers premium healthy and functional fitness food for lifestyle-oriented female customers. 7NXT’s complementary merchandising and licensing division Brand Solutions secures additional monetisation streams for brands and influencers.

With Oakley Capital as new investor, the 7NXT management team aims to strengthen its market-leading position in the DACH region across its focus verticals of fitness content, nutrition and influencer marketing. Furthermore, the investor will support the company in rolling out its businesses into new geographies and expand its network of influencers to drive its domestic and international growth.

Markan Karajica, CEO and Founder of 7NXT, said: “We are thrilled to have found an experienced and dynamic partner in Oakley, with a shared vision to accelerate the growth of the company in the coming years. My team and I look forward to taking 7NXT to the next level with Oakley’s support. It has been a pleasure working with GP Bullhound.”

Sascha van Holt, Managing Director at Crosslantic Capital, which has sold its majority stake in the firm, further commented: “We’ve partnered with 7NXT since 2018 and, together with the founding team, built up successful brands in the high-growth digital fitness and nutrition market. GP Bullhound has been a great advisory partner; the experience of the team, its hard work and intense support proved invaluable to achieve this great outcome.”

Julian Riedlbauer, Partner at GP Bullhound, stated: “We are delighted to have helped the management team in finding the ideal partner for 7NXT’s next stage of growth. The company is perfectly positioned to replicate its success internationally, drive new content creation and address additional target groups.”

This represents GP Bullhound’s 20th transaction in the last 12 months and is a further testament to the firm’s expertise in the Consumer Subscription Software sector, having previously worked with AllTrails, Spotify, Revolut, Busuu, and Fishbrain, among many others.
Enquiries

For enquiries, please contact:

Julian Riedlbauer, Partner

julian.riedlbauer@gpbullhound.com

About GP Bullhound

GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit www.gpbullhound.com.

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Gimv invests in French company Biolam for further roll-out as regional challenger in medical diagnostics laboratories

GIMV

Gimv supported Daniel Attias’ MBI takeover of the Biolam group of laboratories in Amiens, with the ambition to set up a network of reference medical diagnostics laboratories in the north-western region of France. The group is now entering a new phase with the acquisition of Biocéane, a leading player in the Le Havre area.

The adventure began in December 2019 with the acquisition of a platform of 3 laboratories in Amiens and aimed to combine two growth strategies: the opening of laboratories in areas with a shortage of supply and the conduct of external growth operations. Building on the success at Biolab, which was sold to Eurofins in 2018, Daniel Attias is investing heavily in this new project.

Nine months later, the Biolam group (www.groupebiolam.fr) has already opened 4 laboratories in the Hauts-de-France region, acquired the Gilbert-Bourgois laboratory in Douai and announced the acquisition of the Biocéane group, a leading player in the Le Havre area. As part of the latest operation announced this morning, its founder Didier Thibaud, attracted by the entrepreneurial project proposed, joined forces with the Biolam group, which now has 15 laboratories and 150 employees, and generates a turnover of around 20 million euros in the Hauts-de-France and Normandy. Several growth projects are currently being studied.

Gautier Lefebvre, Partner at Gimv, and Kevin Klein, Principal at Gimv, declare: “We are delighted to support Daniel Attias and Didier Thibaud with this exciting and relevant healthcare project. This operation fits perfectly with the philosophy of our Health & Care platform. We will do our utmost to actively empower the group in its further development.” 

Daniel Attias, President of the Biolam group, says: “The selection of Gimv as partner for the Biolam project was self-evident, because of their knowledge of the healthcare sector and their ability to support a very fast build-up strategy. Our growth in this special year already shows that our tandem is working perfectly, offering promising prospects for the coming years.”

With this new investment, Gimv’s Health & Care team continues to focus on European consolidation projects, alongside ambitious management teams.

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Rotunda Capital-Backed Trinity3 Technology and FireFly Computers Unite to Serve the K-12 Tech Market

Rotunda Capital Partners

ST. PAUL, Minn.–(BUSINESS WIRE)–Trinity3 Technology and FireFly Computers are pleased to announce that the two companies are merging, effective today. Financial terms of the transaction were not disclosed.

This merger unites two leading providers of technology solutions to the K-12 market and will be led by Scott Gill, currently president and chief executive officer of Trinity3. Both businesses are based in Minnesota and will retain existing operating locations in St. Paul and Arden Hills.

“While we are focused foremost on computing device availability for school districts and students across the U.S. this fall, I am excited by the combination of our two teams and the positive impact it will have on our ability to deliver a uniquely superior customer experience in the years ahead,” said Gill.

“FireFly and Trinity3 coming together feels like a perfect union in so many ways, and I believe it will create something special and unparalleled in the K-12 market.” said Kari Phillips, former CEO of FireFly. “It’s been an absolute honor to lead FireFly to this point, and I can’t wait to see what we achieve together as a unified team, at a time schools need us more than ever.”

The combined company will continue to be a Rotunda Capital Partners portfolio company, following Rotunda’s acquisition of Trinity3 Technology last year. Rotunda provided additional equity capital for the merger, alongside investments by Kari Phillips and Devang Shah from FireFly, who will both join the combined company board in non-executive roles.

“We are excited to back the united Trinity3/FireFly team and create one of the largest K-12 technology focused platforms in the U.S.,” said John Fruehwirth, managing partner at Rotunda Capital Partners. “The unique scale of the combined firm will further enhance service levels while reducing total cost of IT ownership for school districts by combining our device knowledge, deployment services, and customized comprehensive multi-year warranty programs.”

About FireFly Computers

From its start, FireFly Computers built its identity in the K-12 market as a vendor focused on solving customer pain points. This solution-oriented mindset naturally grew into a public mission of “Hassle-Free, Worry-Free Technology.” With customer experience always at the forefront, FireFly has developed services and conveniences found nowhere else and has established itself as a key player in delivering affordable, high-quality computing technology to schools and government. The level of excellence FireFly has achieved has everything to do with an internal culture of being “supportive, evolving, and fun.” Over the years, FireFly has helped thousands of technology directors succeed in putting more devices in the hands of more students as their truly committed partner in education technology. For more, visit www.fireflycomputers.com

About Trinity3 Technology

Trinity3 Technology is wholly immersed in serving the technology needs of the education market. The company offers custom solutions—including student computing, warranty services and enterprise products—to suit each customer’s unique needs. Backed by an experienced team of sales, support, and technical professionals, Trinity3 delivers exceptional value to educational institutions. What makes Trinity3 Technology unique is not just the products and services offered but the people who stand behind them. For more, visit www.trinity3.com

About Rotunda Capital Partners

Rotunda Capital Partners is a private equity firm that invests equity capital in established, lower middle market companies. Rotunda Capital partners with management to build data-driven growth platforms within its targeted sectors, including value added distribution, asset light logistics, industrial/business services and specialty finance/insurance services. Founded in 2009, the firm has a long history of helping management teams achieve their goals for growth. The Rotunda Capital team actively provides guidance and draws on deep industry and financial relationships to contribute to the successful execution of Rotunda’s companies’ strategic plans. For more, visit www.rotundacapital.com

Contacts

Scott Gill
Trinity3 Technology | FireFly Computers
(651) 888-7922
sgill@trinity3.com

Jill Lafferty
Rotunda Capital Partners
(847) 280-1295
jill@rotundacapital.com

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Oakley Capital acquires 7NXT

Oakley

Oakley Capital (“Oakley”) is pleased to announce that it has acquired a majority stake in 7NXT GmbH (“7NXT” or the “Group”), the leading online fitness and nutrition platform in the German-speaking region, from founder and CEO Markan Karajica and Crosslantic Capital. Mr Karajica will continue in his role as CEO and will retain a significant minority stake in the business.
7NXT comprises three businesses: Gymondo, the leading female-focused online fitness subscription platform; Shape Republic, a direct-to-consumer fitness nutrition and supplements brand; and Brand Solutions, 7NXT’s complementary merchandising and licensing division. Gymondo accounts for the majority of the Group’s revenues, offering subscription-based access to high-quality workout videos, customised fitness programs and personalised nutrition plans. Since launching in 2013, Gymondo has seen over 2 million accounts registered.

Through its investment, Oakley will partner with Mr Karajica and the management team to scale 7NXT in the rapidly growing online fitness and health market and accelerate both its domestic and international growth. Oakley will support the management team through its network, operational experience and expertise in the consumer technology sector, established through its track-record of successful investments in market leading platforms, such as Parship Elite, Facile.it and Wishcard Technologies Group (formerly Seven Miles).

Oakley originated the deal through its strong relationship with Markan Karajica. The investment demonstrates Oakley’s ability to leverage its wider network and its reputation as an attractive business partner for entrepreneurs.

Peter Dubens, Managing Partner of Oakley Capital, commented:
“7NXT is a leader in the high-growth digital fitness and nutrition market, with an excellent leadership team, driven to fulfil their mission of empowering people to live healthy and positive lifestyles. As a founder-led, tech-enabled business, 7NXT demonstrates many of the traits that Oakley targets in an investment and we believe that it is well placed to build on its position as the German market leader. We are looking forward to partnering with Markan and the team at this exciting stage.”

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Nordic Capital sprints to EUR 6.1 billion Fund X in less than six months in wholly remote capital raise

Nordic Capital

October 01 2020
Nordic Capital sprints to EUR 6.1 billion Fund X in less than six months in wholly remote capital raise Image

 

  • Tenth fund exceeds target of EUR 5 billion, closes at its hard cap with significant excess demand and is the largest fund raised in Nordic Capital’s history
  • Very strong demand from a diversified blue-chip global base of new and returning investors with all due diligence conducted remotely
  • Investors attracted to Nordic Capital’s leadership in its focus sectors, proven value-creation track record, high ESG ratings and resilient portfolio
  • Fund X set to continue successful strategy of focusing on majority investments in non-cyclical growth companies in the Healthcare, Technology & Payments and Financial Services sectors

Nordic Capital today announced the successful final close of Nordic Capital Fund X (“Fund X” or “the Fund”), at EUR 6.1 billion (including GP commitment of 6.5%). The Fund, launched in April 2020, was oversubscribed at its hard cap, and was raised in less than 6 months in a groundbreaking remote capital raise without holding any face-to-face meetings. This is the largest fund that Nordic Capital has raised since its inception in 1989 and surpasses its 2018-vintage Nordic Capital Fund IX which raised EUR 4.3 billion (including GP commitment).

Investors were attracted to Nordic Capital’s leadership, proprietary sourcing methods and proven track record of creating value through business transformation and solid earnings growth in its focus sectors of Healthcare, Technology & Payments, Financial Services and its selective investments in Industrial & Business Services. Nordic Capital’s strategy of focusing on non-cyclical, growth businesses was validated by the strong performance of the existing portfolio since the COVID-19 pandemic started. In addition, Nordic Capital recently received the highest ESG rating from the UNPRI.

Kristoffer Melinder, Managing Partner, Nordic Capital Advisors, said: “The rapid and successful close of our tenth fund is a significant milestone for Nordic Capital. To close at the hard cap in less than six months during the COVID-19 pandemic is a fantastic achievement that highlights the strength of our LP relationships and the considerable confidence that our blue-chip investors have in Nordic Capital. It is also testament to the strength of our team, proven investment strategy, the portfolio performance and Nordic Capital’s track record. We are grateful for the continued support of existing limited partners and delighted to welcome new investors to the Fund.”

Kristoffer Melinder added: “Nordic Capital’s investment strategy is based on finding growth businesses in our focus sectors where we can use our significant operational expertise and financial firepower to create value and, ultimately, excellent returns for our investors. The economic impact of the COVID-19 pandemic will continue to be felt for some time and the most successful fund managers will be those who respond well to emerging trends and market dynamics to leverage new opportunities. Fund X has a strong pipeline of attractive investment opportunities in our chosen sectors across Europe, and globally for Healthcare. The Fund has already signed its first investment in Siteimprove – a leading software company that supports digital accessibility for people with disabilities.”

Fund X attracted investors from across the globe, with investors from every continent including 38% from North America, 27% Europe, 17% from Asia, 15% from the Middle East and 3% from RoW. The investor base comprises a well-diversified mix of institutional investors: public and private pension funds (c. 49%); sovereign wealth funds (c. 16%); fund of funds (c. 13%); financial institutions (11%); and endowments and family offices (c. 10%). The new Fund expands Nordic Capital’s blue-chip investor base with 34% of commitments deriving from new investors. The re-up rate by capital of Fund IX LPs in Fund X is c. 90%. The Fund also drew significant support from Nordic Capital’s own team, as well as portfolio company management teams and industrial advisors.

Pär Norberg, Head of Investor Relations, Nordic Capital Advisors, said: “We are very grateful for the tremendous investor support. We launched this fund in the middle of a global pandemic, which required investors to completely alter their investment processes to enable remote diligence. The success of the fund raise despite these challenges reflects the investors’ considerable confidence in Nordic Capital’s strategy and team.”

Fund X will be invested across Europe, with a mandate for global investment in Healthcare as in the prior Fund and an emerging smaller global mandate also for Technology & Payments businesses.

Nordic Capital’s proprietary sourcing methods have continued to generate a strong deal pipeline despite the pandemic. It has in 2020, announced two new platform acquisitions: Max Matthiessen in May, a leading financial advisor in the Nordic region and Siteimprove in September, a global leader within website experience and digital marketing optimisation. Furthermore, it has supported several transformative portfolio company add-ons and completed two partial exits. Nordic Capital’s current portfolio companies have on average achieved 10% organic employment growth and an 8% increase in annual sales.

The fundraising was led by Nordic Capital’s in-house Investor Relations team, supported by Rede Partners who acted as global placement agent, Transpacific in Asia, Ameris in South America, with Kirkland & Ellis as lead legal counsel, supported by Carey Olsen in Jersey and Arendt in Luxembourg.

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”.


Media contacts:

Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.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. Focus sectors are Healthcare, Technology & Payments, Financial Services and in addition, Industrials & Business Services. Key regions are 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 and Luxembourg. 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

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Tree Line Capital Partners and CVC Credit Partners back Ingenio

Tree Line and CVC Credit increase existing term loan to Ingenio to support add-on acquisition

Tree Line Capital Partners, LLC (“Tree Line”), and CVC Credit Partners (“CVC Credit”) provided an increase to their existing term loan to $127,300,000 to Ingenio to support an add-on acquisition.  Tree Line served as Administrative Agent and Lead Arranger on the transaction.

Headquartered in San Francisco, Ingenio is the leading online platform that connects advice-seekers with coaches and advisors. The platform has enabled over 40 million conversations from around the globe, making Ingenio the leader in phone, chat, and web–based personal advice.  Ingenio is owned by Alpine Investors and management.

“We have enjoyed building a lasting relationship with the Tree Line and CVC Credit teams across several transactions,” said Warren Heffelfinger, CEO at Ingenio. “They have reliably answered the call when it has come to additional capacity for add-on acquisitions coupled with a creative approach to tailoring debt structures to a transaction’s requirements.”

Frank Cupido, Partner of Tree Line added, “We have been extremely pleased with Ingenio’s strong performance and the long-term partnership we’ve built since 2015.  Our relationship with Ingenio is a great example of our ability to grow with a borrower from initial platform acquisition through various stages of growth and capital needs, including acquisitions, recapitalizations and other flexible financings.  Warren and the team have built a best in class organization and we look forward to working with them in the years ahead.”

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