Category Archives: News

Shiftboard secures credit facility from Espresso Capital

Seattle — March 9, 2021 — Espresso Capital announced today that it has provided a credit facility to Shiftboard, a leading provider of enterprise workforce scheduling software. Shiftboard will use the capital to further strategic investments across the business, including investment in sales and marketing and enhancing key product features, both of which will accelerate growth.

“This strategic partnership with Espresso Capital will enable us to enhance our product offering to serve our customers’ evolving needs,” says Shiftboard President and CEO Sterling Wilson. “Delivering intelligent, highly configurable workforce scheduling capabilities to our customers is our top priority. Industries with continuous operations, like manufacturing, energy, healthcare, and public services, require innovative solutions to complex employee scheduling challenges. This funding allows us to continue delivering the most comprehensive scheduling solutions available, further cementing our position as the leading provider of workforce scheduling technology for mission-critical industries.”

“Shiftboard has been at the forefront of the workforce scheduling market for some time,” says Espresso Executive Director Steven Michau. “They’ve expanded their addressable market with purpose-built technology designed to tackle complex workforce scheduling more effectively. It’s a great company with terrific momentum, and we’re looking forward to supporting this next leg of the company’s growth.”

“Closing this deal with Espresso further confirms our conviction that Shiftboard is well-positioned to answer the market’s call for intelligent workforce scheduling solutions,” says Erik Benson, managing director at Voyager Capital, one of Shiftboard’s existing investors. “We are aligned in our visions for growth and proud to continue supporting Shiftboard’s great product and outstanding team.”

Explaining why Shiftboard chose Espresso Capital, Benson noted, “They offered the most workable solution hands down. Besides offering Shiftboard the liquidity they needed, Espresso provided flexibility and didn’t bury the process in unnecessary administrative overhead. They’ve been great to work with.”

About Shiftboard, Inc.

Shiftboard is a global, leading provider of workforce scheduling solutions for organizations with continuous and mission-critical operations. Backed by Shiftboard’s innovative technologies, organizations can optimize their workforce scheduling practice to lower labor costs, improve efficiency, comply with labor regulations, and create a better employee experience. To date, Shiftboard has supported over 265 million scheduled shifts for thousands of customers, including Fortune 500 companies, providing the employment pipeline for over $9 billion in wages earned. For more information, please visit shiftboard.com.

About Voyager Capital

Since 1997, Voyager Capital has focused on first-round venture investments to help entrepreneurs in the Pacific Northwest and California create winning businesses. Built on the team’s extensive experience with startups and its exceptional network across the industry, the firm’s entrepreneur-centric approach accelerates the pace at which companies can build, execute, pivot and scale. Voyager has $520M under management investing in B2B software, cloud infrastructure, and applications driven by AI and machine learning. With offices in Seattle, Wash., Portland, Ore., and Vancouver, BC, Voyager provides its portfolio the unwavering support and stage-appropriate connections needed to disrupt markets and create sustainable competitive advantage.

About Espresso Capital

Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 280 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at www.espressocapital.com.

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Litman Gregory, a nationally recognized US wealth and asset management firm, joins the iM Global Partner’s network

ik-investment-partners

Paris, Walnut Creek (CA), March 9, 2021, iM Global Partner today announced that it has  entered into a definitive agreement to acquire Litman Gregory, a nationally recognized  wealth and asset management boutique managing $4 billion in assets under management  and overseeing $2.2 billion of assets under advisory*.

Litman Gregory, founded by Ken Gregory and Craig Litman in 1987 and based in the San  Francisco Bay Area, is a privately-owned company, and a pioneer in providing independent  asset management services to investors. For over three decades, Litman Gregory has focused  on providing in-depth investment research and personalized wealth management to  individuals and multigenerational families to help them achieve their financial goals. The  company also supports nonprofit organizations by serving as their fiduciary partner and  outsourced chief investment officer. Since 1996, Litman Gregory has developed a broad  range of US mutual funds.

In just a few years iM Global Partner has become a premier global asset management  network. The addition of Litman Gregory in the U.S., once completed, is expected to bring  assets under management of the group to over $24 billion (from $20 billion as at end of  December 2020) and will enhance distribution capabilities in the U.S. It further demonstrates  iM Global Partner’s commitment to continued cross-border growth in serving the needs of  sophisticated investors.

Combining Litman Gregory’s capabilities with iM Global Partner creates a uniquely powerful  set of high-quality investment solutions to serve both institutional and private clients in the  U.S. and internationally. Building upon common values and strengths, which are focused on  commitment to investment excellence, innovation and client service, the group will be able  to further enhance service to clients for years to come.

iM Global Partner plans to operate Litman Gregory Wealth Management as a separate  business unit to preserve the strong recognition, independence and expertise that it has built  over many decades with its cross-generational clients.

Steve Savage, CEO of Litman Gregory, said: “We are excited to become a part of iM Global  Partner as it improves our ability to deliver on our mission to excel for our clients. iM Global  Partner brings complementary global research resources and strong alignment on total client  focus. The combination of our organizations is a natural fit because of our shared research  DNA, commitment to independent thinking, integrity and total client focus.”

Philippe Couvrecelle, CEO and founder of iM Global Partner, declares: “Litman Gregory  becoming a part of our group is a major step forward as we continue our U.S. expansion.  This strategic operation allows us to add Wealth Management as a new key activity for iM  Global Partner. Our clients will benefit from the synergies that result when like-minded  organizations leverage their talents and resources to enhance the client experience.”

Jeffrey Seeley, Deputy CEO at iM Global Partner US adds: “We are thrilled to work with our  Litman Gregory colleagues moving forward and see tremendous opportunities for the  continued development of long-term investment solutions to serve various clients in the U.S.  and internationally.”

This operation is subject to the approval of the SEC (Securities and Exchange Commission)  and is expected to close in the second quarter of 2021.

About iM Global Partner

iM Global Partner is a worldwide asset management network dedicated to asset management. It selects and builds long-term partnerships with talented and independent asset management companies through direct capital ownership.

iM Global Partner is present in 11 locations across Europe and the United States and provides its clients with access to the best management strategies of its Partners. iM Global Partner’s wide range of investment solutions thus includes the OYSTER range, a Luxembourg SICAV, but also Mutual Funds and ETFs dedicated to US investors.

iM Global Partner represents over 19 billion USD of assets under management as at December 2020.

www.imgp.com

About Litman Gregory 

Founded in 1987, Litman Gregory is a nationally recognized wealth management firm based  in the San Francisco Bay Area. Litman Gregory Asset Management provides high-touch wealth  and asset management services to individuals, multigenerational families, and nonprofits.  Litman Gregory advises the PartnerSelect Funds, provides investment strategy  implementation to third-party platforms through Litman Gregory Portfolio Strategies, and  offers portfolio guidance and investment research to professional investment advisors  through Litman Gregory AdvisorIntelligence. The firm oversees $6.2* billion in investment  assets. litmangregory.com 

*The Litman Gregory companies that manage assets include Litman Gregory Asset  Management, LLC and Litman Gregory Fund Advisors, LLC. Data are as at end December  2020.

Berkshire Global Advisors and Seward & Kissel served respectively as financial and legal  advisors to iM Global Partner.

Asset & Wealth Management Investment Banking Group of Raymond James and WilmerHale  served respectively as financial and legal advisors to Litman Gregory.

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Questel signs the acquisition of NovumIP, supported by Eurazeo Capital, IK Investment Partners, and RAISE Investissement

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Questel, a global IP software and tech-enabled services leader offering an integrated end-to-end platform of software and services across the innovation lifecycle, has announced today the signing of the acquisition of NovumIP, a global intellectual property (IP) technology group comprised of PAVIS and Novagraaf, two European leaders, active in patents annuities and trademarks renewals.

The acquisition will enhance Questel’s presence in the IP value chain through a comprehensive offering delivering a full set of solutions for its global customers and also fully reflects Questel’s ambition to continuously enhance its value proposition for such customers. Integrating patent annuities with Questel’s existing range of solutions, notably its intellectual asset management platform, will be a step-change for customers seeking one convenient location to manage all of their IP activities.

Eurazeo Capital, IK Investment Partners and RAISE Investissement will invest to finance the acquisition of NovumIP. Following the transaction, Eurazeo and the IK IX Fund will each invest an incremental amount of approximately €150 million and together will continue to hold a majority stake in Questel, while Paragon Fund III, an affiliate of NovumIP’s majority shareholder, will invest and become a financial investor of Questel.

Definitive financial information will be disclosed once the transaction is completed. The completion of the transaction is subject to the definitive approval of the German Financial Supervisory Authority (BaFin) as well as the Competition Authorities.

This acquisition demonstrates the commitment of Eurazeo Capital, IK Investment Partners and RAISE Investissement to support the Questel management team as it continues to pursue its expansion strategy into the IP management value chain. This strategy is supported by strong organic growth and a dynamic acquisition strategy that has helped in the past and should prove paramount in allowing  Questel to continue extending its geographic footprint in the future, whilst also providing a differentiated end-to-end set of solutions for its clients.

The NovumIP transaction follows the recent acquisitions by Questel of innosabi, an innovation SaaS company based in Germany, and doeLEGAL, a US software business active in enterprise legal management. These acquisitions represent a great milestone in the Questel journey.

For further questions, please contact:

Eurazeo
Pierre Bernardin
Head of Investor Relations
pbernardin@eurazeo.com
Tel: +33 (0)1 44 15 16 76

Virginie Christnacht
Head of Communications
vchristnacht@eurazeo.com
Tel: +33 (0)1 44 15 76 44

IK Investment Partners
France:
CTCom
Sibylle Descamps
sibylle.descamps@ct-com.com
Tel: +33 (0) 6 82 09 70 07

International:
Maitland/AMO
James McFarlane
jmcfarlane@maitland.co.uk
Tel: +44 (0) 7584 142 665

RAISE Investissement
Charlotte Doyen
charlotte.doyen@raise.com
Tel: +33 674791846

About Eurazeo
Eurazeo is a leading global investment company, with a diversified portfolio of €18.8 billion in assets under management, including nearly €13.3 billion from third parties, invested in over 430 companies. With its considerable private equity, venture capital, real estate, and private debt, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt, Berlin and Madrid. Eurazeo is listed on Euronext Paris. ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €13 billion of capital and invested in over 145 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, please visit www.ikinvest.com

About RAISE Investissement
RAISE Investissement is a capital investment company set up by the RAISE group, founded by Clara Gaymard and Gonzague de Blignières. With €410 million of committed capital, the fund supports high growth medium-sized French companies that generate revenue of between €30 million and €500 million, by investing stakes of between €10 million and €50 million to help them grow. The RAISE group is built around a financing model that combines profitability with generosity as the investment teams (RAISE Investissement, RAISE REIM, RAISE Ventures, RAISE Impact and RAISE LAB) donate 50% of their earnings through the group profit sharing scheme to an internal endowment fund, RAISESHERPAS, which supports startups and helps them grow. This initiative, pioneering in France, creates a virtuous circle involving major corporations, institutional investors, medium-sized businesses and startups. For more information, visit www.raise.co/en/

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Abacai announces acquisition of Dayinsure

CVC Capital Partners

Abacai Group (“Abacai or “the Group”), the insurtech recently formed by Mark Wilson and Sun Capital Partners today announces the acquisition of Dayinsure to complement its existing insurance businesses.

Founded in 2005, Dayinsure has grown consistently to become a leading provider of temporary motor insurance cover in the UK for car, van, motorhome and business drivers and has strengths in IT and data analytics.

CVC Credit, the dedicated credit arm of leading international private equity and advisory firm CVC Capital Partners, has become a strategic partner of Abacai: providing a combination of equity and debt financing for the acquisition and the Group’s future development.

Abacai will retain Dayinsure as a standalone go-to-market business, and the management team will continue to lead the separate subsidiary. Abacai will continue to focus on serving the insurtech underwriting market through Abacai Capital.

Mark Wilson, CEO and Co-Chairman of Abacai, commented: “Temporary motor insurance is a high growth segment at the core of the sharing economy. M&A is one of the two pillars of our growth strategy and we are excited to have completed this transaction so soon after we created Abacai.”

Barry Bown, CEO of Dayinsure, commented: “We are delighted to become part of Abacai. The customer focussed business model, is a good fit with our own. Teaming up will allow us to grow our footprint and accelerate our development.”

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Nordic Capital and Boost.ai announce partnership to accelerate growth and expand conversational AI platform into new markets

Nordic Capital

Nordic Capital and Boost.ai announce partnership to accelerate growth and expand conversational AI platform into new markets Image

Boost.ai, a global leader in conversational AI for Fortune 1000 companies, and Nordic Capital, a leading private equity firm focusing on fast growing companies in Northern Europe, today announced an agreement to enter into a partnership where Nordic Capital will actively support Boost.ai in its rapid expansion. Nordic Capital intends to further strengthen the Company’s strong market position by helping it to accelerate growth and expansion into new markets, working closely with the CEO and co-founders. The founders, the management team, and the current owners of Boost.ai, including Finstart Nordic and Alliance Venture, will continue as investors alongside Nordic Capital.

Boost.ai empowers leading enterprises and public sector organisations in Europe and North America to automate and scale customer service, support and sales. The Company offers a no-code conversational AI platform, with a strong focus on customer service and support, that helps bridge the digital gap between brands and their customers, through the use of tailored AI-powered chatbots to meet the demand of large enterprises.

Boost.ai was founded in 2016 by CEO Lars Ropeid Selsås together with co-founders Hadle Ropeid Selsås and Henry Vaage Iversen. The Company has experienced unprecedented growth as demand for its conversational AI platform has soared. Headquartered in Stavanger, Norway, the Company has established satellite offices in Oslo, Stockholm, and Santa Monica, and employs a diverse team of more than 100 employees from 18 countries. Boost.ai’s client base consists of many of the top organisations in the Nordics such as Nordea, Telenor, Santander and DNB, and spans multiple industries including financial services, e-commerce, healthcare and the public sector. At the end of 2020, the Company had annual recurring revenue of NOK ~100 mn.

Lars Selsås, Founder and CEO, Boost.ai commented: “Nordic Capital was always our first choice of partner to take Boost.ai to the next level. They share our vision of becoming a global category leader and, at the same time, can help to maintain our leadership position in the Nordic market. Nordic Capital’s investment in our Company and technology is an endorsement of our success so far, and their team’s experience and strong track record with companies at our growth stage makes me confident that we will achieve great things together.”

Nordic Capital will support Boost.ai’s rapid growth trajectory allowing for further international expansion.

Technology & Payments is one of Nordic Capital’s focus sectors, with 18 platform investments made in the Nordic region since 2001. It has a strong and active sector network and a dedicated Technology & Payments team with local presence across Northern Europe. Nordic Capital’s previous experience in this sector includes investments such as Bambora, Trustly, CINT, Conscia, Siteimprove, Vizrt and Signicat.

Jess Tropp, Principal, Nordic Capital Advisors commented: “We are incredibly impressed by Boost.ai’s founders, management team and employees and the company’s superior conversational AI platform which has achieved industry leading resolution rates, evidenced by very strong customer satisfaction. We believe that Boost.ai represents a rare investment opportunity to invest in a leading Nordic based SaaS company with an attractive growth outlook from increased market penetration, as well as an opportunity to support expansion and internationalisation. Nordic Capital is truly excited about partnering with the founders and management to accelerate Boost.ai’s growth ambitions in the coming years.”

Boost.ai’s management team, led by founder and CEO Lars Ropeid Selsås, will continue to operate and manage the Company following the transaction. Co-founder Henry Vaage Iversen will continue as CCO.

The terms of the transaction were not disclosed.

 

Press contacts:

Boost.ai
Kristian Mossige, Chief Marketing Officer
Tel: +47 98 40 86 03
E-mail: kristian@boost.ai

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

 About Boost.ai

Boost.ai specialises in enterprise-grade conversational artificial intelligence (AI). Inventor of the world’s most user-friendly conversational AI platform, Boost.ai empowers frontline customer service teams to automate customer service interactions with proprietary self-learning AI and a no-code solution that’s quick to deploy, easy to learn and highly scalable. Able to handle unlimited intents while consistently maintaining resolution rates of 90 percent, Boost.ai’s technology is used by companies like Telenor, DNB and Silvercar by Audi to successfully automate thousands of interactions. Boost.ai is a privately held Norwegian software company founded in 2016 with headquarters in Stavanger and satellite offices in Santa Monica (US), Oslo and Stockholm. Learn more at boost.ai

 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 16 billion in over 110 investments. The most recent fund is Nordic Capital Fund X with EUR 6.1 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, Denmark, Finland, Norway, Germany, the UK and the US. For further information about Nordic Capital, please visit www.nordiccapital.com

 

Footnote: “Nordic Capital” refers to any, or all, Nordic Capital branded funds and vehicles and associated entities. The general partners of Nordic Capital’s funds and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which is referred to as “Nordic Capital Advisors”.

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Nordic Capital acquires Sortera, a growth leader within recycling, to support accelerated expansion and the development of industrial solutions for the circular economy

Nordic Capital

Nordic Capital acquires Sortera, a growth leader within recycling, to support accelerated expansion and the development of industrial solutions for the circular economy Image

Nordic Capital has signed an agreement to acquire Sortera, the fastest growing environmental services provider of focused recycling and waste solutions in Sweden. Sortera has grown by assisting both the environmental and operational performance of its customers. Nordic Capital intends to accelerate Sortera’s ongoing international expansion and further strengthen its sustainable service offering.

Sortera is a fast-growing Nordic environmental contractor within collection, recycling, processing and broking of residual products from the building and construction sector. Sortera operates primarily within the B2B SME segment in Sweden and Finland through its three business areas: Recycling (RMI construction recycling services), Materials (End-to-end environmental solutions for waste and water) and Industry (Industrial removal of bulk materials and liquids). Through its operations, Sortera contributes to a circular economy in construction – the second largest recycling opportunity globally after the mining industry. The Company’s services enable the increased use of old materials in new construction, reducing the need for raw materials and hence Greenhouse Gas (GHG) emissions. Sortera is based in Stockholm, Sweden and has recently expanded into Finland. Since its inception in 2006, the Company has grown to become one of the market leaders in Sweden by focusing on environmental concerns, and by offering its customers increased flexibility, high reliability, short lead times, excellent quality, and superior customer support. Sortera has circa 420 employees and revenues of approximately SEK 1.4 bn in 2020.

Nordic Capital is an active owner with deep experience in growing industrial and business services companies, in which it selectively invests. By closely following the sector, Nordic Capital has gained significant knowledge of the construction recycling industry where it sees strong potential for growth. Nordic Capital has strong credentials in ESG and sustainability lies at the heart of its investment strategy. The ambition is to contribute operational and financial resources to support Sortera’s, international sustainability journey in close partnership with the Company’s management team and founder Conny Ryk.

“During 2020 we further strengthened our market position and continued to invest in future growth. With our recent acquisition in Finland, we have taken the first step to replicating the success in new markets. I am proud of what we have accomplished and look forward to continuing the journey together with Nordic Capital and maintaining the best interests of our employees, customers, and suppliers,” comments Sebastian Wessman, CEO of Sortera.

“Nordic Capital is very impressed with what Sortera and the owners have built so far and is excited to support the continued journey. We have followed Sortera for a long time and believe that Nordic Capital has the expertise and resources to support the management team in the forthcoming international expansion that Sortera is embarking upon. This investment is at the core of Nordic Capital’s Responsible Investment and Industrial & Business Services investment strategy, and Sortera will be able to leverage on the experience that we have gained from similar journeys and our broad external network. The positive climate impact generated by companies like Sortera is becoming more important and relevant given the environmental challenges that we all face today,” says Andreas Näsvik, Partner and Head of Industrial & Business Services, Nordic Capital Advisors.

Nordic Capital invests selectively in the Industrial & Business Services sector where it has deployed

more than EUR 3.7 billion in 39 platform investments since inception. These include current portfolio companies Consilium Safety Group, iLOQ and Cary Group (formerly Ryds Bilglas) and former investment Anticimex.

The terms of the transaction with the seller Summa Equity were not disclosed. The transaction is subject to customary regulatory approvals.

 

Press contacts:

Sortera

Sebastian Wessman, CEO
Tel: +46 72 886 95 97
e-mail: Sebastian.Wessman@Sortera.se

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

About Sortera

Sortera Group is a Nordic environmental company which, through its three business areas (Recycling, Industry and Materials), strives to be the leading environmental entrepreneur on the Nordic market, with solutions that contribute to increased sustainability and improved environmental performance in all of the company’s operations. With just over 420 employees and a turnover of ca SEK 1.4 billion, Sortera conducts its own operations from sales, collection, treatment and recycling to final recipients. Sortera performs daily services for thousands of companies and private individuals in the Nordic region.

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 16 billion in over 110 investments. The most recent fund is Nordic Capital Fund X with EUR 6.1 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, Denmark, Finland, Norway, Germany, the UK and the US. For further information about Nordic Capital, please visit www.nordiccapital.com

 

Footnote: “Nordic Capital” refers to any, or all, Nordic Capital branded funds and vehicles and associated entities. The general partners of Nordic Capital’s funds and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which is referred to as “Nordic Capital Advisors”.

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Gimv pioneers with a sustainable finance framework, resulting in the successful issue of a first sustainable bond

GIMV

Gimv NV announces that it has successfully issued its first sustainable bond for an aggregate amount of 100 million EUR (8 years at 2.25%). The issue of this bond is enabled by the creation of a sustainable finance framework, a logical next step to confirm Gimv’s ambitions as a responsible investor. The response to the issue was substantial, it was largely oversubscribed and finally placed with a wide range of investors, of which an important majority are sustainable investors.

In order to match its funding policy with its sustainable investment ambitions and to further increase its impact on society, Gimv pioneers as a listed investment company with the creation of a sustainable finance framework. Next to this first sustainable bond issue, this framework will allow Gimv to continue to attract sustainable funding in the future.

Gimv’s sustainable finance framework was reviewed and approved by Sustainalytics, the Morningstar owned leading independent ESG analyst.

Koen Dejonckheere, CEO: “Sustainability is an important cornerstone for Gimv as a responsible investor. The creation of a sustainable financial framework is in line with our long-term strategy and challenges us to screen the sustainability of our funding in addition to the companies we invest in. This also underlines how we want to be a real partner in sustainability for our portfolio companies.”

Kristof Vande Capelle, CFO: “Sustainable bonds are an important trend in the financing market. As an investment company Gimv is taking the lead in matching the traditional requirements of a sustainable bond with its strategy by allocating funding to companies that actively contribute to the achievement of the UN Sustainable Development Goals. Today’s successful bond issue is proof that institutional investors value our ambitions, and we look forward to launching more future initiatives resulting from the design of our new and futureproof framework.”

This bond marks an important next step in Gimv’s continued efforts to create leading companies. Gimv currently oversees a portfolio of 55 companies in four different investment platforms active in sectors that are essential for the future of our economy and society. Gimv’s portfolio includes ambitious companies focusing on promoting healthy sustainable food, providing wide access to care, contributing to the active integration and advancement in the digital society or developing eco-efficient technologies for a circular economy.

The bond was issued in private placement and primarily offered to institutional investors. ING and Belfius were mandated as joint lead managers.

Read the full press release:

English – French – Dutch

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CapMan Buyout invests in food supplement and medical device specialist Pharmia

Capman

CapMan Buyout invests in food supplement and medical device specialist Pharmia

CapMan Buyout invests in Pharmia, a leading food supplement and medical devices specialist in Finland. CapMan acquires a majority equity share in the company, with the owner family of Pharmia retaining a significant share.

Pharmia specialises in contract manufacturing and development of food supplements and CE-marked medical devices. The product portfolio consists of vitamins and minerals, probiotics, as well as CE-marked flu treatment products. Pharmia’s customers include well-known pharmaceutical and food supplement companies, pharmacies and wholesalers in the field in Finland and abroad. Founded in 1993, the family business today employs 90 people.

“Pharmia’s success is a great growth story of a family business. Long-term customer relations, talented personnel and strong product development have kept the company on a stable growth path. With our participation, growth can be further accelerated both organically and through acquisitions”, says Anders Björkell, Partner at CapMan Buyout.

“Food supplements and medical devices are an industry full of opportunities, and we have been following its development for a long time. We are very pleased to start cooperating with the leading company in the field”, Björkell continues.

“Pharmia has been an important part of our family’s life since it was founded 28 years ago by Ph.D. Tuulikki Harmia-Pulkkinen. Pharmia has been a pioneer in Finland in providing development, manufacturing and consulting services to both pharmaceutical and food supplement operators. Today, these industries form a significant business in Finland, with more than a dozen operating companies”, says Kari Pulkkinen, Chairman of the Pharmia board.

“For us, the future trends in the industry and the strengthening of international growth were the main reasons to choose this new ownership arrangement. In this interesting and developing industry, CapMan offers a strong foundation for utilising the know-how that has accumulated in Pharmia during a generation”, Pulkkinen continues.

“CapMan’s participation as a committed major shareholder is beneficial to our long-term customers and personnel, as well as to the entire industry. This arrangement enables significant growth in the international market and, together with the company’s growth goals, will offer interesting opportunities to the experts in the field,” says Hannu Vakkari, CEO of Pharmia.

Pharmia is the second investment of the CapMan Buyout XI fund, which was established in 2019. The transaction is expected to close by the end of March 2021.

For more information, please contact:

Anders Björkell, Partner, CapMan Buyout, tel. +358 40 5377 566
Kari Pulkkinen, Chairman of the Board, Pharmia, tel. +358 50 344 2605
Hannu Vakkari, CEO, Pharmia, tel. +358 50 065 0790

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With close to €4 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com

About Pharmia
Pharmia is the first company in its field in Finland specializing in contract manufacturing and services. Initially, we operated strongly in the pharmaceutical industry, e.g. in clinical trials, but today we are focused on the development and manufacturing of food supplements and medical devices (CE marked products). Product development expertise and innovation, efficient production processes, high quality and a customer-oriented operating model have made us a leading operator in Finland. Our customers are mainly domestic, and we manufacture a large part of our country’s most respected brands in the industry. In addition, our products specifically for flu prevention and respiratory care are already exported directly or indirectly to more than 40 countries. Our premises are located in Tuusula, in a recently completely renovated property. Pharmia’s turnover is around 16 MEUR and we employ around 90 talented professionals. Our values ​​are customer orientation, expertise and appreciation towards our colleagues, stakeholders, and society. The development and manufacture of high-quality and safe products that promote health and well-being is rewarding and meaningful, and we feel we contribute to both the success of our customers and the quality of life of our consumers. Read more at pharmia.fi/en/

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The Carlyle Group acquires disguise

Carlyle

Transaction to fuel disguise’s global growth as its cutting-edge technology looks to “reimagine storytelling”

London, UK, 8 March 2021 – Global investment firm The Carlyle Group (NASDAQ: CG) today announced it has acquired a majority stake in disguise, a leading provider of extended reality (xR) technology[1]. Terms of the transaction were not disclosed.

Headquartered in London, UK, disguise is a leading technology platform which enables creative and technical professionals to imagine, create and deliver spectacular live visual experiences. disguise specialises in combining real-time 3D visualisation-based software with high performance hardware. The company is one of the main providers of xR and virtual production technology to major entertainment providers, film & TV studios, broadcasters, corporates, and fixed installation companies globally.

Disguise’s technology has been instrumental in spearheading immersive content delivery for key projects like the 2020 MTV Video Music Awards and Eurosport’s US Open coverage, live performances from artists like Billie Eilish and Katy Perry, in-game concerts like J.Balvin in Fortnite, corporate presentations from Siemens and SAP, and on-set virtual production from notable VFX studios like Framestore and Orca Studios. Since June 2020, over 150 disguise xR stages have been built in more than 35 countries and disguise xR has powered over 200 shows.

The Carlyle Group will support disguise to capitalise on the significant market opportunity for virtual production technology, a trend that has only accelerated during the Covid-19 pandemic. Leveraging Carlyle’s well-established track record in growing media technology companies globally through investments such as The Mill and Foundry, Carlyle will seek to expand disguise’s customer base through access to Carlyle’s large portfolio of corporate customers as well as relationships with key content providers in the media services industry. The investment thesis is also predicated on disguise expanding its software offering and further geographic expansion. Equity for the investment was provided by Carlyle Europe Technology Partners (CETP) IV, a €1.35 billion fund that invests in small and middle market technology-focused opportunities in Europe and the US.

Disguise’s future growth will also be supported by Epic Games, who have taken a minority stake in the business in this transaction. This enhances the existing strong partnership between disguise and Epic’s Unreal Engine. Production companies and broadcasters are embracing the benefits of virtual production techniques, built on photorealistic real-time graphics engines such as Unreal Engine, and LED infrastructure for immersing presenters and performers in virtual environments.

Fernando Kufer, CEO of disguise, said: “Sitting at the forefront of innovation in xR technology, we’re proud of the journey we have been on with our customers and we’re looking forward to further consolidating our position as the global “platform of platforms” for the creation and delivery of content at any scale and location. We see huge potential for growth based on our leading technology platform and unique service offering. We are delighted to have the full support of The Carlyle Group, a firm with a strong track record of growing technology businesses, as we take disguise into the next chapter of its growth journey.”

Michael Wand, Managing Director and Co-Head of the CETP advisory team, said: “Given our history of investing in media technology, we are truly excited to partner with disguise – a player at the cutting edge of virtual media production. disguise has a world-class offering and a growing and impressive list of high-profile clients. The virtual production market is forecast to grow substantially, and we believe the company is uniquely placed to benefit from the accelerated demand for LED-based visual experiences and capture further market share. In partnering with the disguise management team, we will look to leverage our significant experience in scaling media technology companies as we support the company to become a global leader.”

ENDS

Press Enquiries:

disguise

Alexandra Coulson

Email: marketing@disguise.one

The Carlyle Group:

Andrew Kenny
Tel: +44 7816 176120
Email: Andrew.Kenny@Carlyle.com

About disguise

The disguise technology platform enables creative and technical professionals to imagine, create and deliver spectacular live visual experiences at the highest level.

Combining real-time 3D visualisation-based software with high performance hardware, disguise delivers challenging creative projects at scale and with confidence. Its new award-winning Extended Reality (xR) workflow is empowering users to bring to life immersive visual experiences that inspire and engage remote audiences everywhere.

disguise xR has already powered immersive real-time productions for music artists such as Katy Perry and Billie Eilish, enterprise businesses like SAP and Lenovo, educational institutions like the University of Michigan, broadcast TV shows like MTV Video Music Awards, commercial brands like Nike and Under Armour and many other virtual experiences in more than 35 countries. The business has a presence in the US, UK, Spain, UAE, Korea, Japan, Hong Kong, China and New Zealand.

With an ever increasing global partner network and working alongside the world’s most talented visual designers and technical teams in live events, TV broadcasts, films, concert touring, theatre, fixed installations and corporate and entertainment events, disguise is building the next generation of collaborative tools to help artists and technologists realise their vision.

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $246 billion of assets under management as of December 31, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs 1,825 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.

[1] Extended Reality is an umbrella term used to describe immersive technologies that can merge the physical and virtual worlds. It includes augmented reality (AR), virtual reality (VR) and mixed reality (MR) alongside others.

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CapMan Special Situations -fund acquires HopLop Group

Capman

CapMan press release 5 March 2021 at 3.30 p.m. EET

CapMan Special Situations -fund acquires HopLop Group

The first investment of the CapMan Special Situations fund is HopLop, Finland’s largest chain of adventure parks.

CapMan Special Situations fund has acquired 100% of the equity and debt capital of HopLop Group. The transaction enables a critical restructuring of the balance sheet, secures the continuation of the business through the Covid-19 pandemic, and accelerates future growth.

HopLop is the first investment of CapMan’s newly established Special Situations fund that pursues event-driven investment situations by providing flexible capital solutions and strong operational expertise.

HopLop operates a chain of adventure parks and playgrounds for children. The company is a market leader in Finland and has taken first steps to expand internationally. Prior to the outbreak of the Covid-19 pandemic, the business developed well. The company has taken many actions during 2020 to increase efficiency and adapt to the changing situation. With the support of CapMan, the business is well-positioned to focus on its core business and foster new growth.

“HopLop is the first investment for our fund and an important milestone for the execution of the strategy that we launched last summer. The now completed transaction enables the restructuring of HopLop’s balance sheet, the continuation of the business and securing future growth. HopLop’s internationalisation expansion will continue,” says Jari Vikiö, Partner at CapMan Special Situations.

“On behalf of the company, I am pleased with this excellent solution to the company’s challenging situation. CapMan Special Situations enables us to beat the Covid-19 crisis, further develop the company and drive new growth. With the support of CapMan’s experienced team, HopLop’s management is very committed to develop the business further following this transaction,” says Kalle Peltola, who will remain as CEO of HopLop.

CapMan Special Situations invests in event-driven opportunities across economic cycles and industry sectors. At the core of the investment area are demanding corporate restructurings and operational transformations. CapMan Special Situations is a responsible investor, and its mission is to contribute to societal wellbeing by ensuring that viable companies can successfully steer through demanding situations and once again thrive. Antti Uusitalo, Tuomas Rinne and Jari Vikiö serve as Partners of the investment area.

For additional information, please contact:
Jari Vikiö, Partner, CapMan Special Situations, tel. +358 40 505 0733

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With close to €4 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

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