Category Archives: News

Axcel sells Conscia to Nordic Capital

Axcel

After a successful ownership period of close to four years, Axcel has signed an agreement to sell Conscia, one of the leading northern European providers of secure IT infrastructure solutions, to Nordic Capital Fund IX (Nordic Capital).

Conscia is one of the leading providers of secure IT infrastructure solutions in northern Europe, with local offices in Denmark, Sweden, Norway and the Netherlands, where it builds, services and secures some of Europe’s most complex IT infrastructures. During Axcel’s ownership, Conscia has developed from a challenger in the Danish market to a market-leading player in Europe through significant organic growth and five successful bolt-on acquisitions.

Conscia has just completed the acquisition of NIL in Slovenia, which further strengthens the company’s position within managed IT security and network services and as the most competent provider of IT infrastructure solutions centred around Cisco in Europe. NIL is widely recognised in the industry for its extensive technical expertise.

“I’m very proud that Nordic Capital recognises our strong market position, which is the result of a well-executed strategy and an enormous effort from all the employees at Conscia. We’ve very much enjoyed our partnership with Axcel, which has been an integral part of driving our development. We’re now looking forward to the continued success of Conscia in partnership with Nordic Capital,” says Claus Thorsgaard, Conscia’s CEO.

Christian Bamberger Bro, who was responsible for the investment at Axcel, is very pleased with both the transaction and what the company has achieved.

“The management team and the entire organisation have done a fantastic job over the last four years in terms of successfully accelerating the development of Conscia,” says Christian Bamberger Bro. “As owners, we’re very proud to have been part of this journey and to see Conscia continue its success under the ownership of Nordic Capital. We wish them all the best in the years to come.”

Nordic Capital is delighted with the transaction.

“Nordic Capital is excited to partner with Conscia’s management team as the business continues its transformation into a true European champion. With the newly signed acquisition of NIL in Slovenia, Conscia has added a Security Operation Centre, which in combination with the strong Conscia culture and quality of people offer a great starting point to become a leading European provider of complex and secure network infrastructures with an increasing focus on managed services,” says Fredrik Näslund, Partner at the Advisor to the Nordic Capital Funds.

Conscia is the eighth company to be sold by Axcel’s fourth fund, launched in 2010. The transaction is expected to be completed within two months.

About Conscia
Conscia is a leading European provider of secure, reliable IT infrastructure solutions, with revenue of DKK ~2.0bn. Conscia strives to be the best partner for customers’ mission-critical IT infrastructure throughout the entire life cycle, and supports this through extensive insight gathered in a unique customer platform, CNS, which is the basis for industry-leading customer experience and satisfaction. At the same time, Conscia has the ambition to be the most attractive and admired place to work for talented IT infrastructure specialists with extensive technical expertise. The current Network of Knowledge is 500+ employees spread across five countries (Denmark, Sweden, Norway, the Netherlands and Slovenia). For further information, please visit www.conscia.com. 

About Axcel
Founded in 1994 by a group of Denmark’s largest financial and industrial institutions, Axcel is a Nordic private equity firm focusing on mid-market companies and has a broad base of both Danish and international investors. Axcel has raised five funds with total committed capital of more than EUR 1.8 billion to date. These funds have made 52 platform investments, more than 90 major add-on investments and 41 exits. Axcel currently owns eleven companies with combined annual revenue of around EUR 1.2 billion and some 6,000 employees.

Further information:

Axcel
Partner Christian Bamberger Bro
Tel.: +45 3336 6987
E-mail: cbb@axcel.dk

Managing Partner Christian Schmidt-Jacobsen
Tel.: +45 2178 3697
E-mail: csj@axcel.dk

Contact Axcel in Copenhagen or Stockholm.

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Nordic Capital builds on its strong track record within technology with the acquisition of Conscia, a leading provider of complex security and networking solutions

Nordic Capital

MARCH 01 2019

Nordic Capital builds on its strong track record within technology with the acquisition of Conscia, a leading provider of complex security and networking solutions Image

  • Conscia will continue its fast-growing expansion in Europe with the support of Nordic Capital as a new owner
  • Nordic Capital will invest to further strengthen Conscia’s market leading position and service offerings

Nordic Capital Fund IX (“Nordic Capital”) today announced the signing of the acquisition of Conscia, one of the leading security and networking infrastructure specialists in Northern Europe. In close partnership with the management team, Nordic Capital will support Conscia’s continued expansion and invest to further strengthen the Conscia’s market leading position and service offering.

Founded in Brøndby, Denmark in 2003, Conscia is one of the leading players in the Northern European IT infrastructure space within complex infrastructure solutions and managed services. Conscia builds and services some of Europe’s most complex IT security and networking infrastructures, and notably is recognised as one of the strongest integrators of Cisco solutions. Customers include some of the largest organisations within financial services, healthcare, and public sector organisations. Conscia has offices in Denmark, Norway, Sweden, the Netherlands and Slovenia.

Since inception, Conscia has grown rapidly through targeted acquisitions, double digit organic growth, and successful strategy execution. The company has projected revenues of approx. DKK 2.0 bn (EUR 270 mn) for 2019 and over 500 employees. Conscia has received several partnership awards over the years, to include Cisco North Customer Experience Partner of the Year 2018. Conscia has today more than 200 technical consultants. In addition, it has developed a unique asset management software solution called Conscia Network Services (CNS).

“Nordic Capital is one of the most prominent and experienced investors in the Nordic Tech sector with a long and proven track record of growing businesses. They are therefore the perfect partner to support Conscia’s continued international expansion strategy, which will be anchored around our deep technical expertise, a unique customer platform, ‘CNS’, and our ‘customers first’ approach. We look forward to take our ambitions to the next level,” says Claus Thorsgaard CEO, Conscia Holding.

“Nordic Capital is excited to partner with Conscia’s management team as the business continues its transformation into a true European champion. With the newly signed acquisition of NIL in Slovenia, Conscia has added a Security Operation Centre, which in combination with the strong Conscia culture and quality of people offer a great starting point to become a leading European provider of complex and secure network infrastructures with an increasing focus on managed services,” says Fredrik Näslund, Partner at the Advisor to the Nordic Capital Funds.

This acquisition is the eighth investment by Nordic Capital’s latest fund, Nordic Capital Fund IX with EUR 4.3 billion in committed capital, and builds on Nordic Capital’s recognised expertise and outstanding track record in the Tech sector. Nordic Capital has made eleven Technology and Payment platform investments and more than 40 add-ons since 2001.

Conscia is being acquired from Axcel, and management. The management team will re-invest, continuing as minority owners together with Nordic Capital as majority owner.

The parties have agreed to not disclose any financial details. The transaction is subject to customary regulatory approvals.

 

Media contacts:

Nordic Capital

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

Conscia

Dorthe Dahlin Irvold, Director of Communication
Tel: +45 2042 9611
e-mail: di@conscia.dk

 

About Conscia:

Conscia is a leading European provider of secure, reliable IT infrastructure based on solutions from Cisco supplemented with other category vendors with DKK ~2.0B in revenue. Conscia strive to be the best partner for customers mission critical IT infrastructure throughout the entire lifecycle. And supports this through deep insight gathered in a unique customer platform, ‘CNS’, which is the basis for industry-leading customer experience and satisfaction. At the same time Conscia has the ambition to be the most attractive and admired place to work for talented IT infrastructure specialists with deep technical expertise. The current Network of Knowledge is 500+ employees spread across 5 countries (Denmark, Sweden, Norway, The Netherlands, and Slovenia). For further information about Conscia, please visit www.conscia.com

 

About Nordic Capital

Nordic Capital is a leading private equity investor in the Nordic region 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 proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 13 billion in over 100 investments. The most recent fund is Nordic Capital Fund IX with EUR 4.3 billion in committed capital, principally provided by international institutional investors such as pension funds. The Nordic Capital Funds and vehicles are based in Jersey and are advised by advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital, please visit www.nordiccapital.com

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DIF and Aberdeen Standard Investments to acquire UNITANK

DIF

Schiphol, 28 February 2019 – SL Capital Infrastructure II (“ASI”) and DIF Core Infrastructure Fund I (“DIF”) are pleased to announce the signing of an agreement to acquire 100% of UNITANK from the family owners, with ASI and DIF each acquiring a 50% stake.

UNITANK is a market leading independent and neutral infrastructure and services provider storing liquid oil products, headquartered in Hamburg, Germany. The company owns and operates five terminals in Germany and one terminal in Belgium, all in key strategic locations. The terminals handle diesel, gasoline, jet fuel and heating oil and have a total storage capacity of c. 1.1 million cubic meters. Servicing both strategic stockholding agencies with product storage as well as commercial clients with product throughput provides UNITANK with a stable and resilient business model.

The acquisition provides DIF and ASI with a strong and differentiated platform in the German liquid bulk storage and throughput market. Its flexible business model, high-quality and state-of-the-art asset base, and operational excellence positions the company well for the future. The consortium will continue to back the company’s long-term and successful strategy for the business.

The transaction is conditional on European Commission merger clearance.

Jan Westedt – Owner
“Our family has run UNITANK over two generations with a strategy emphasising close and trusted partnerships with our clients and employees, which were key elements of our success story.
We are glad that DIF and ASI together with the management team will continue to pursue a long-term investment strategy centred around our philosophy and corporate culture.”

Dominic Helmsley – Head of Economic Infrastructure at Aberdeen Standard Investments
“We consider UNITANK to be a highly successful provider of storage capacity for strategic stockholding agencies and a key strategic partner for oil majors. We value the company’s historic growth and see significant future upside. Together with our partner DIF we look forward to working closely with UNITANK management in supporting the business and exploring further business opportunities.”

Willem Jansonius – Partner and Head of Core Infrastructure at DIF
“We firmly believe in the strategy as set by the current shareholder and management team. We are impressed with the commercial re-positioning of the business and its importance in providing essential services in its clients’ supply chains. We appreciate the well-invested asset base and the resulting high standards of operational excellence, which are essential to UNITANK’s current and future positioning.”

About DIF
DIF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

DIF has a team of over 115 professionals, based in eight offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto.
Please visit www.dif.eu for further information.

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu

About ASI
Aberdeen Standard Investments has over €4 billion of assets under management across direct economic and concession infrastructure. The Economic infrastructure funds’ primary objective is to achieve long term, consistent returns by investing in brownfield core/core+ infrastructure assets in Europe. The fund’s aim is to construct a balanced portfolio of high quality European infrastructure opportunities focussing on small to mid-market opportunities across the utilities, transport and energy sectors.

Aberdeen Standard Investments is a leading global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments. With over 1,000 investment professionals we manage €630 billion (30/06/18) of assets worldwide. We have clients in 80 countries supported by 46 relationship offices. This ensures we are close to our clients and the markets in which they invest. We are high-conviction; long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance. We are resolute in our commitment to active asset management.

Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on 14 August 2017.

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Finnish cyber security company Arctic Security closes a funding round with prominent Finnish investors to accelerate growth

FEBRUARY 28, 2019

Arctic Security is proud to announce a follow-on investment to the company’s series A round by notable private entrepreneurs and investors Mikko Kodisoja, Ilkka Paananen and Georg Ehrnrooth. The new investors’ expertise in global growth companies strengthens Arctic Security’s investor base which also includes original investor CapMan Growth. The additional funds will be used to accelerate the company’s international growth in the cyber security market.

Arctic Security, established in 2017, had a very successful first year of operation, launching Arctic Hub and Arctic Node products and achieving over Euro 2,000,000 of international sales. The company’s products harmonize and categorize cyber threat information from over 100 threat intelligence feeds and then match these indicators to the actual owners of the impacted assets. This automated and intelligent correlation of the threats creates actionable data which can be used by organizations both to protect themselves in real time and to reduce future risk. Together Arctic Hub and Node deliver unparalleled scalability in integrated cyber defense from individual enterprises to multinational corporations.

“Enterprises are struggling with cyber threats and need automated solutions to integrate actionable cyber threat intelligence into their defenses. This investment will help us to bring our proven products available to a wider enterprise audience worldwide” says David Chartier CEO of Arctic Security.

About Arctic Security                                                

Arctic Security is a company based in Oulu, Finland with offices in Helsinki, San Francisco and Singapore. The company’s devoted team is composed of international experts with extensive knowledge and experience in working in the cyber threat intelligence industry. The organization is led by CEO David Chartier, a long-term cyber security professional and the former CEO of Codenomicon.

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CapMan Buyout has sold shares in Harvia Plc

CapMan Buyout X Fund A L.P and CapMan Buyout X Fund B Ky (together the “funds managed by CapMan”) have sold part of their shares in Harvia Plc (”Harvia” or the ”Company”) in an accelerated book-building to a limited number of institutional investors (the ”Share Sale”). The funds managed by CapMan sold a total of 12.3 per cent of the shares and votes in the Company. The subscription price in the Share Sale was set at EUR 6.00 per share and the gross sales proceeds amounted to approximately EUR 13.8 million. After the Share Sale, the funds managed by CapMan own 12.3 per cent of the shares in the Company.

In connection with the Share Sale, the funds managed by CapMan have entered into a lock-up undertaking, under which they have, subject to certain exceptions, agreed not to sell any shares in Harvia for a period ending May 7, 2019.

Pia Kåll, Managing Partner of CapMan Buyout, comments: “CapMan has supported Harvia through a number of important milestones and will continue with a 12.3 per cent stake. Following our investment in 2014, together with the management we developed and implemented a new growth strategy for the company, as a result of which Harvia is one of the leading sauna and spa companies in the world. This is an excellent basis for both current and new owners to continue from.”

Danske Bank A/S, Finland Branch acted as the Sole Lead Manager in the Share Sale.

Further information:
Pia Kåll, Managing Partner, CapMan Buyout, +358 207 207 555

Disclaimer
Danske Bank acted exclusively for the funds managed by CapMan and no one else and it will not regard any other person (whether or not a recipient of this release) as their respective client in relation to the Share Sale. Danske Bank will not be responsible to anyone other than the funds managed by CapMan for providing the protections afforded to their respective clients and will not give advice in relation to the Share Sale or any transaction or arrangement referred to herein. Danske Bank assumes no responsibility for the accuracy, completeness or verification of the information set forth in this release and, accordingly, disclaim, to the fullest extent permitted by applicable law, any and all liability which they may otherwise be found to have in respect of this release. Nothing contained in this release is, or shall be relied upon as, a promise or representation as to the past or the future.

The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, New Zealand, Australia, Japan, Hong Kong, Singapore or South Africa or any other country where such publication or distribution would be unlawful. This release does not constitute an offer of securities for sale in any country. The securities mentioned herein have not been registered under the U.S. Securities Act of 1933, as amended, or the rules and regulations thereunder.

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. CapMan employs today approximately 120 private equity professionals and has over €3 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 currently includes procurement services, fundraising advisory and fund management services. www.capman.com

 

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Platinum Equity Completes Acquisition of Lonza Water Care Business

Platinum

LOS ANGELES (Feb. 28, 2019) – Platinum Equity today announced it has completed the acquisition of Lonza’s water care business in a transaction valued at approximately $630 million.

Headquartered in Alpharetta, GA, the water care business is a leading provider of innovative water treatment solutions.  The company maintains six production facilities throughout North America, South America, and EMEA, and sales locations in all major regions globally. It features top consumer brands in the residential pool care market and key positions in high-growth industrial water care markets.

Platinum Equity is a leading global private equity firm with a highly specialized focus on business operations and more than 20 years’ experience acquiring and operating businesses that have been part of large corporate entities. The firm has said it believes the water care business is a strong platform for growth thanks to its market position and track record for innovation.

Following the transfer of ownership and transition to operating as a standalone company, the water care business will create a new corporate identity that will be announced in the months ahead. No changes are expected to the company’s underlying consumer product brands.

Gibson, Dunn & Crutcher LLP served as legal advisor to Platinum Equity on the acquisition of Lonza’s water care business.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $13 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 23 years Platinum Equity has completed more than 250 acquisitions.

About the Water Care Business
The water care business acquired from Lonza is one of the world’s leading suppliers of sanitizers and other water treatment chemicals. It is organized into two business segments: Residential Water offers water care products and value-added services for residential pools and spas and is a global leader in all consumer channels including Mass Retail and Professional Dealer (Pro Dealer), which includes Dealer Direct, Branded Distribution, and Repack and Private Label (RPL). Industrial, Commercial, Municipal and Surface Water (ICMS) offers chemicals, services and solutions globally that address commercial swimming pools, drinking water, process water, wastewater, irrigation, surface water and industrial applications.

Water Care Product Portfolio

Investor Relations
and Media Contacts:

Mark Barnhill
Partner
+1 310.228.9514E-mail Mark

Dan Whelan
Principal
+1 310.282.9202E-mail Dan

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EverSource Capital and NIIF announce partnership with CDC to invest in its renewable energy platform Ayana

Everstone

Mumbai/London, 28 February 2019: EverSource Capital (a joint venture between Everstone Capital and Lightsource BP) and the National Investment and Infrastructure Fund of India (NIIF) have today announced a partnership with CDC Group in Ayana Renewable Power (Ayana), the renewable energy platform founded by CDC. EverSource Capital manages Green Growth Equity Fund (GGEF), which has NIIF and the UK government as anchor LPs. Completion is subject to regulatory and transaction condition approvals.

Ayana was launched to develop utility scale solar and wind generation projects across growth states in India. It is currently constructing 500MW of solar generation capacity with a strong future pipeline of renewable energy opportunities. With a management team that has a track record of successful execution of renewable energy projects, Ayana is well placed to play an important role in India’s ambition to build 175 GW of renewable energy capacity.

CDC’s Head of Asia, Mr. Srini Nagarajan said “CDC’s commitment to climate change was key in the innovation of Ayana last year and its alignment with the global goals. We are delighted we achieved our early objective to attract fresh capital and we are proud to partner with NIIF and EverSource Capital. Their domestic expertise will further strengthen Ayana and support its mission in developing affordable and accessible renewable energy across India. This investment demonstrates our commitment to invest a further $1.7 billion in India and neighboring countries over the next three years. Within infrastructure, we see further opportunities to provide investment to businesses operating within power generation, power transmission and distribution, transport, the gas midstream and the water sector.”

Sujoy Bose, MD & CEO, NIIF, said “The Indian renewable energy sector has seen strong traction underpinned by healthy capacity additions with globally competitive tariffs. We are pleased to be partnering with CDC and EverSource Capital and backing a strong management team with a successful track record of developing renewable energy in India. We look forward to working with our partners who bring complementary strengths and substantial capital to the platform.”

Dhanpal Jhaveri, CEO, EverSource Capital commented “This partnership brings together likeminded institutional, climate focussed and experienced partners. EverSource has a deep understanding of renewables business with an extensive track record of scaling up world class businesses in India and will provide strategic and operational value add to Ayana in building a high quality rapidly scalable utility grade renewable energy business.”

News release
Standard Chartered Bank acted as the exclusive financial advisor to Ayana Renewable Power Private Limited.
-Ends-

Notes to Editors:
About CDC Group: CDC Group plc is the UK’s development finance institution. Wholly owned by the UK Government, it invests in sub-Saharan Africa and South Asia with the aim
of supporting economic development to create jobs. CDC Group plc has invested in India since 1987. CDC takes a flexible approach and provides capital in all its forms, including equity, debt, mezzanine and guarantees, to meet businesses’ needs and achieve development impact. CDC has net assets of £5.1bn.

About NIIF: NIIF is a fund manager that invests in infrastructure and related sectors in India. An institution anchored by the Government of India, NIIF is a collaborative investment platform for international and Indian investors with a mandate to invest equity capital in domestic infrastructure. NIIF benefits from its association with the Government yet is
independent in its investment decisions being majority owned by institutional investors and managed professionally by a team with experience in investments and infrastructure. NIIF
aims to make commercial investments in the sector which are feasible and at scale. By providing local access and expertise, NIIF is expected to attract significant international capital in Indian infrastructure.

About EverSource Capital: EverSource Capital, a joint venture between Everstone Capital and Lightsource BP, is the fund manager of the Green Growth Equity Fund (GGEF), a USD
700 million target private fund, which has NIIF and the UK Government as anchor LPs, for investing in India’s rapidly scaling green growth market through a differentiated investment approach. This unique partnership brings together a leading multi-asset management firm in India and a renewable energy industry leader and Europe’s leading utility scale solar developer having a portfolio of more than 9 GW under operation / development including 60MW in India to form EverSource, the enabler of renewable energy and green investment opportunities in India.

Contact:
Karan Anand (For EverSource Capital)
Assistant Vice President, Communications & Marketing
(kanand@everstonecapital.com / +91 98333 72732)

Clare Murray, CDC Communications
(cmurray@cdcgroup.com / +44 7887 993356)

Adfactors PR (For NIIF)
Anita Bhoir, Senior Account Director
(anita.bhoir@adfactorspr.com / +91 99303 90055)

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Contrast Security Closes $65 Million Series D Funding Round

AXA

Round led by new investor Warburg Pincus validates the visionary approach of Contrast’s
innovative software security platform

Los Altos, Calif., Feb. 28, 2019 – Contrast Security, the pioneer in embedding vulnerability
analysis and exploit prevention directly into modern software, today announced it has completed
a $65 million Series D funding round led by new investor, Warburg Pincus. Existing investors,
including Battery Ventures, General Catalyst, M12 (Microsoft’s Venture Fund), AXA Venture
Partners and Acero Capital all participated in the oversubscribed round. This brings the
company’s total funding raised to $122 million. This investment will strengthen Contrast
Security’s position as the leading platform to enable secure DevOps. The funding will accelerate
the company’s technology innovation, field operations, international expansion along with
significant growth in its customer-success team. These investments are all in order to meet the
rapidly increasing demand for the company’s modern approach to software security.
Businesses today are developing software at breakneck speeds fueled by modern approaches
such as Agile, DevOps, microservices, APIs, cloud-native apps and PaaS environments. This
creates a major gap between the demands for faster software development and the challenges
brought about by legacy software security tools. Contrast Security is a pioneer in creating a new
approach, leveraging patented binary instrumentation to protect applications at every point in
their lifecycle. Modern software requires an equally modern security model that can protect the
integrity of the business with innovative security safeguards built directly into the software as
they are developed and deployed.

“Everything about software today is different, from the increased dependence on third-party and
open source components, to microservices and API-centric architectures, and complex cloud
deployments. However, many companies still are trying to rely on 15-year-old legacy security
tools for their modern software stacks. This approach leaves them with restricted software
development capabilities or living with substantial enterprise risk of a data breach,” said Alan
Naumann, CEO at Contrast Security.

Modern software requires businesses to embrace innovative and modern software models,
changing the rules of engagement. For example, companies such as Slack created a revolution
in workforce collaboration built for modern software. AppDynamics and Atlassian have changed
the way performance management and issue tracking can be done seamlessly across business
functions. Modern software is built with innovative tools that are collaborative, cross-functional
and highly integrated. Contrast Security is breaking decades-old constraints as the first and only
software security platform that is built for the modern software era.
“With strong support from enterprise customers, key industry analysts validating our visionary
approach and extraordinary backing from top tier investors, we anticipate becoming the
essential foundation for modern software security with accurate and continuous software
protection. We are thrilled to have Warburg Pincus join us as a partner in this journey,” said
Naumann.

Contrast Security has experienced strong corporate growth and fast-yielding financial
performance in FY’2018 including:
• Overall ARR growth of >120%+ year-over-year
• Net upsell & expansion rates of >135%
• Significantly increased customer base with the addition of 520 new companies using
Contrast solutions
• 500 percent year-over-year growth in the number of $1 million or greater transactions
“Alan and the team at Contrast Security have built a formidable platform with a next-generation
approach to application security. Our market research shows that companies around the globe
are investing in Digital Transformation and software development initiatives. High speed
DevOps software and rapid cloud adoption create an enormous security risk if legacy tools are
used. These mega-trends create a uniquely large opportunity for Contrast Security,” said Brian
Chang, Managing Director at Warburg Pincus. “We are excited to back Contrast Security and to
further validate their position as a new, modern and truly scalable approach to application
security.”

Contrast Security’s unified platform includes its flagship products, Contrast Assess and Contrast
Protect, that work continuously across popular development approaches (DevOps, Agile,
Waterfall, etc.) and technologies (Cloud, Containers, Open Source Software, etc.) to enable
protection throughout the software lifecycle. Contrast Security’s platform allows IT executives to
finally close the chasm between the number of applications needed to run the business and the
resources needed to secure them. In 2018 alone, Contrast Security discovered over 1,900,000
vulnerabilities and protected against over 52,000,000 confirmed applications attacks across
billions of transactions.
“A major business goal at Comcast is to speed up the development process and shorten time to
market. This objective challenged us to identify next generation application security technology
that could provide us constant and accurate feedback for our application portfolio. Many tools
that claim to target this accelerating pace are nothing more than DevOps marketing lipstick on a
traditional tooling pig,” said Larry Maccherone, DevSecOps Transformation Lead at Comcast.
“However, Contrast fundamentally transforms the equation around vulnerability detection and
runtime protection. It fits the emergent DevOps mental model perfectly which is more than can
be said of any tool developed with the security specialist as its primary user.”
In addition, Contrast Security recently announced Community Edition, a free, full-strength,
DevSecOps solution that allows development, security and operations teams to deliver secure
software on time to meet growing business requirements. This free solution is designed to help
small teams building Java applications and APIs protect against the most commons security
flaws, including the Open Web Application Security Project (OWASP) top 10 vulnerabilities.

About Contrast Security
Contrast Security is the world’s leading provider of technology that embeds highly effective
vulnerability analysis and exploit prevention directly into modern software. Contrast’s patented
deep security instrumentation is the breakthrough technology that enables highly accurate
assessment and always-on protection of an entire application portfolio, without disruptive
scanning or expensive security experts. Only Contrast has sensors that work actively inside
applications to uncover vulnerabilities, prevent data breaches, and secure the entire enterprise
from development, to operations, to production. More information can be found at
www.contrastsecurity.com or by following Contrast on Twitter at @ContrastSec.

About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The
firm has more than $43 billion in private equity assets under management. The firm’s active
portfolio of more than 180 companies is highly diversified by stage, sector and geography.
Warburg Pincus is an experienced partner to management teams seeking to build durable
companies with sustainable value. The firm is a leading investor in security companies, with
current investments including CrowdStrike, BitSight, eSentire, Cyren and Zimperium, among
others. Founded in 1966, Warburg Pincus has raised 17 private equity funds, which have
invested more than $73 billion in over 855 companies in more than 40 countries. The firm is
headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, Houston, London,
Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For
more information, please visit www.warburgpincus.com.

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ARDIAN INFRASTRUCTURE acquires Wind Farm from OX2 in first step to create new Nordic sustainable energie platform

Ardian

Ardian’s Nordic platform led by industry executives Eero Auranne and Thomas Linnard will support transition towards sustainable energy in the region

Stockholm, 28 February 2019. Ardian, a world leading private investment house, today announces a €300 million investment to build a wind farm in Åndberg/Härjedalen, Sweden. Ardian acquires the development rights of the project from OX2, a leading Nordic renewable energy developer. Ardian has also engaged OX2 to lead the construction and technical management of the facility. The wind farm will be operational in 2021 and is expected to produce in excess of 800GWh per year.

The 53-turbine wind farm will be one of the largest in Sweden, which is a world leader in the innovation and development of sustainable energy. Sweden has passed legislation to go ‘carbon neutral’ by 2045, with Denmark, Norway and Finland all having made similar commitments.

Ardian’s portfolio in the Nordics, which already includes two wind farm investments in Norway and Sweden, will now exceed 400MW of gross capacity, corresponding to the yearly energy consumption of more than 600,000 electric vehicles. Separately, OX2 is currently building a record of over 1GW of wind power in the Nordics, of which approximately 90% is in Sweden.

Amir Sharifi, Managing Director at Ardian Infrastructure said: “In OX2, we have found an excellent partner. We look forward to together building a state-of-the-art wind farm using the latest available technology. Our goal is to achieve solid returns without subsidy and a positive impact on all stakeholders.”
Paul Stormoen, Managing Director at OX2 Wind said: “We are very pleased to have established a good business relationship with Ardian after a realisation process that was characterised by a high degree of professionalism and spirit of cooperation. We are now looking forward to beginning construction together with our sub-contractors. The wind farm is a significant local investment and a further important contribution to the ongoing global transition to a renewable energy sector.”

New sustainable energy platform
The Härjedalen investment is a major step in launching a new investment platform for sustainable energy in the Nordics, which will be led by industry executive Eero Auranne. Mr. Eero Auranne has 30 years of experience in the energy sector as CEO of Empower, President of ÅF Energy and Executive VP leading Fortum’s international power business. Eero will be joined by Mr. Thomas Linnard, who has over 10 years’ experience in the renewable energy sector, most recently as CEO of Rabbalshede Kraft, a large Swedish wind power developer and operator.

Mathias Burghardt, Member of the Executive Committee and Head of Ardian Infrastructure said: “As a leading investor in the sector, we see significant growth potential in supporting the rapid transition towards sustainable energy in the Nordics. This region has been a pioneer in energy innovation and building a liberalized power market. We look forward to building a leading independent Nordic platform that will become yet another example of how sustainability can provide value to both investors and society.”
Eero Auranne said: “Our partnership with Ardian, one of the largest private investment houses in the world, will provide both the resources and expertise to deliver on our plan to build a leading Nordic platform. We have already identified several interesting opportunities and look forward to taking advantage of them with Ardian’s support.”
Ardian has built or operated 2.3GW of renewable capacity in Europe and the Americas since 2006, including investments in wind, solar, hydro and biomass. Most recently, Ardian’s renewables platform in the US, Skyline Renewables, acquired four additional wind farms expanding its holdings to 803MW.

ADVISORS AND TECHNICAL DETAILS

OX2 advisors: DLA Piper, legal; Augusta, M&A
Ardian advisors: Newsec, M&A; Vinge, legal; Grant Thornton, tax
The wind turbines are from the Nordex Delta4000 series, with a total height of 180 m. Project targets to exceed 250MW including upgrades (from an initial 220MW nominal capacity)

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$90bn 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 550 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 800 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

ABOUT OX2

OX2 is a Group whose operations are in renewable energy and circular waste management. The Group offers sustainable and financially attractive products and services within large-scale wind power, distributed energy solutions and biogas production. By increasing the availability of renewable energy and improving the recycling of organic waste, OX2 is promoting the transition towards a renewable energy sector and a circular economy. OX2 has more than 140 employees working at various sites in Sweden, Norway, Finland, Lithuania, France and Germany. Its head office is located in Stockholm, Sweden. Sales revenue in 2017 amounted to approx. €230 million. For more information, please visit:
www.ox2.com

PRESS CONTACTS

Ardian
Headland
CARL LEIJONHUFVUD
cleijonhufvud@headlandconsultancy.com
Tel: +44 20 3805 4827
OX2
PAUL STORMOEN
paul.stormoen@ox2.com
Tel: +46 70-671 18 18

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Bosch increases investment in startups

Robert Bosch Venture Capital launches Fund IV with 200 million euros

  • Artificial intelligence: RBVC has a stake in three of the most promising AI startups worldwide
  • Bosch CEO Denner: “We aim to foster technologies in areas of future relevance and boost our innovative strength”
  • Bosch collaborates with startups on open innovation projects

Stuttgart, Germany – Investments in startups are on the rise. In 2017, institutional investors and companies invested 147 billion euros in these enterprises – nearly three times as much as in 2012.

Bosch, too, is increasing its investment in external startups, providing Robert Bosch Venture Capital GmbH (RBVC) with 200 million euros for a fourth fund. “Shaping the future also means recognizing good ideas early on and helping them achieve a breakthrough. As a leading IoT company, we want to drive forward select technologies in areas of future relevance, such as artificial intelligence,” explains Dr. Volkmar Denner, CEO of Robert Bosch GmbH. RBVC currently has a stake in three of the most promising artificial intelligence (AI) startups worldwide: DeepMap, Graphcore, and Syntiant. “We not only invest in startups, we also collaborate with them on open innovation projects. This is one way in which we boost our innovative strength.” Open innovation is a concept that brings together customers, researchers, suppliers, and partners and integrates them into a company’s innovation activities.

RBVC, one of Europe’s largest corporate investors, specializes in innovative technology startups. Its portfolio includes more than 35 companies active in autonomous driving, AI, the internet of things (IoT), and even distributed ledger technologies such as blockchain.

Categories: News