Groupe BPCE has announced today the signing of an agreement with the key shareholders and the founders and managers of Fidor Bank AG related to the acquisition of their equity interests in the company.

The planned acquisition of Fidor is fully in line with Groupe BPCE’s strategic plan “Another Way to Grow” and will contribute to the acceleration of the rollout of the group’s digital strategy.

Founded in 2009 by its CEO Matthias Kröner, Fidor is one of the world’s first “Fintech Bank”, pioneering the collaboration between traditional financial services and technology businesses and having developed an innovative approach to retail banking. Fidor offers a unique proposition by combining an innovative customer experience relying heavily on the involvement of the 350,000 members of its community and an open organization and architecture to foster flexibility and agility.

Fidor has developed in particular a proprietary digital banking platform – Fidor Operating System – allowing for fast and easy functionality and enabling open and most advanced API Banking. Telefónica has announced this week the launch of O2 Banking, its mobile-only bank account in partnership with Fidor using the API Banking infrastructure.

By joining Groupe BPCE, Fidor will be able to capitalise on the support and backing of a solid banking group to accelerate its own growth and international development.

Polaris Capital Group Co., Ltd.

July 20, 2016

Acquisition of HIVIC CO. LTD.

Polaris Private Equity Fund III (“Polaris Fund III”), managed by Polaris Capital Group Co., Ltd. (“Polaris”), and other investor have agreed with the existing shareholders that they will acquire 100% of the outstanding shares of HIVIC CO., LTD.(“HIVIC”) from LIXIL Corporation (“LIXIL”) in late August of 2016.

HIVIC, currently owned by LIXIL which is a consolidated subsidiary of LIXIL Group Corporation (“LIXIL Group”), engages in precut timber business and operation of membership-only direct bid timber market mainly in Eastern Japan, and has demonstrated steady business performance despite the fast -changing business environment since joining LIXIL Group.

HIVIC is known for its solid clientele among mid-size home builders and contractors across Tohoku-Northern Kanto areas, as well runs unique timber market operation, which enables HIVIC to reinforce direct relationship with clients by eliminating middle men such as construction material trading houses and sales agents. As such, HIVIC has successfully continued to provide highly value-added services to cater to extensiveclients’ requirements with broad product coverage of timber, building materials, housing equipment, window sashes, siding, air-conditioners, etc.

HIVIC prides itself on having strengthend its contractor support package business and diversification of product coverage beyond pre-cut/other timber materials with aims to further improve bottom lines, by leveraging on direct business relationships with mid-size contractors which were fostered over the years of timber market operation. For realization of business model innovation which HIVIC aims for, Polaris will extend strong support by sharing know-hows which were acquired through years of experiences in manufacturing

business support and carve-out buyouts. Polaris will also work with HIVIC to promote HIVIC’s future growth by understanding its strength and competitive edge, and by providing hands-on management support on finance, human resources and corporate governance to improve its enterprise value going forward.

For inquiries:

Junpei Yamada, Partner

Polaris Capital Group Co., Ltd.

Address: GranTokyo North Tower 38F 1-9-1 Marunouchi, Chiyoda-ku, Tokyo, Japan

Phone: 813-5223-6780

HIVIC CO., LTD.

Founded: June 1967

Representative: Hidenori Asahara, President and CEO

Address: 1728 Iizuka, Oyama City, Tochigi Prefecture, Japan

Business: Manufacturing and sales of precut timber, sales of timber, building

materials, housing equipment and others, sales of building components,

and construction and sales of custom-build wooden houses

Website: http://www.hivic.co.jp

MARKETINVOICE RAISES £7.2M IN THE FIRST MAJOR FUNDRAISE BY A PEER-TO-PEER LENDER SINCE BREXIT VOTE

• New growth round led by MCI.TechVentures Fund of MCI Capital Group (investors in iZettle, Azimo, Gett, Auctionata), with existing investor Northzone also increasing its investment into the company
• MarketInvoice currently providing over £1.5m per day in cash flow finance to UK businesses, and fast approaching the £1 billion mark of total funding through its platform since launch in 2012 
• Funding coincides with the appointment of a Chief Marketing Officer and Director of Sales, and the move into a larger office in Shoreditch, East London

MarketInvoice has today announced a £7.2 million investment led by MCI.TechVentures Fund of MCI Capital, a listed Polish private equity group.

This marks the first major fundraise from a peer-to-peer platform since the Brexit vote, with a European venture backer investing directly into the leading UK fintech company. 

MarketInvoice, Europe’s largest peer-to-peer online invoice finance platform, will use the funds to cement its position as the biggest player in the UK, accelerate marketing, and continue developing its products around customer needs. 

The platform has already provided £850 million worth of funding to UK businesses, and is set to reach the £1 billion before the end of the year. 

As the peer-to-peer sector consolidates, MarketInvoice will now look to broaden its reach by targeting a wider range of businesses, from start-ups to mid-sized corporates. This will ensure even more companies have the ability to get paid faster by financing their invoices, allowing business owners to save time and focus on what’s most important – running their business. 

In order to continue its ambitious expansion, MarketInvoice also welcomes two senior hires in key positions, as the 100-strong team moves into a brand new Shoreditch office. Lisa Gervis (formerly of Sequoia-backed Elevate Credit and American Express) has joined as Chief Marketing Officer, with Rupert Thorp (formerly of Experian and Sky IQ) joining as Director of Sales. 

Existing investor Northzone, is also increasing its investment in the company. Sylwester Janik of MCI Capital joins the company’s board.

On July 12th Goldman Sachs Merchant Banking Division and Altor Fund IV signed an agreement to acquire Navico Holding AS (Navico) and Digital Marine Solutions Holding AS (Digital Marine Solutions), owner of Jeppesen Marine, from the Altor 2003 Fund.

Navico is a leading provider of marine electronics to the recreational segment and is an innovative force within the commercial marine market. Navico sells its products under the three brands Lowrance, Simrad and B&G. The company was created from the acquisitions of Simrad-Yachting, Lowrance Electronics and Brunswick New Technologies.

Navico has worked systematically to integrate the three companies, consolidating seven brands into three, six factories into one and building one common technology platform. As a result, Navico has been driving innovation in its industry, launching one new product every 20th day, and has steadily grown its market share since 2009.

Subsequent add-on acquisitions completed include Maritime Information Systems, Concilium’s radar business and Contour Innovations. In addition, Digital Marine Solutions completed the acquisition of the companies and assets comprising Jeppesen Marine, which in addition to Navico will be acquired by the new owners.

Navico has also become the most profitable player in its industry, with 2015 Revenues of USD 309 million and an EBITDA of USD 62 million.

“It has been a privilege to work with the management team in Navico over the last ten years, building a great company, which is very well positioned for further growth. The high performing recreational business is an asset that also can be leveraged to grow in the commercial segment over the coming years. The digital platform represents a unique platform to participate in – and drive the digitalization of commercial marine in partnership with other industry players, with additional strength being brought to the platform by the new owners’ acquisition of Digital Marine Solutions from the Altor 2003 Fund”, says Hugo Maurstad, Chairman of the Board of Navico and Partner at Altor Equity Partners.

“We are impressed with Navico’s track record and speed of innovation”, says Michael Specht Bruun, Managing Director in the Merchant Banking Division of Goldman Sachs. “Through our partnership with Altor Fund IV we look forward to supporting the company and accelerating its organic and acquisition based growth”.

The transaction will be subject to customary regulatory requirements and approvals.

Jul 06, 2016

Nordic Capital Fund VI (“Nordic Capital”) has sold its remaining 33 per cent ownership in Menigo Foodservice AB (“Menigo”). During Nordic Capital’s ownership, Menigo has been transformed into a strong and profitable company, leading the development of the Swedish food service market. Nordic Capital’s final divestment is part of Sysco’s acquisition of Menigo’s majority owner Brakes Group, creating the world’s largest food service group.

“During Nordic Capital’s ownership, Menigo was transformed from a loss-making division to a strong and profitable stand-alone company with a leading role in the development of the Swedish food service market. Menigo underwent an extensive operational improvement program impacting many areas of its business, including optimising the logistical set-up, expanding the private label range and improving its customer interface. I would like to thank the management teams of both Menigo and the Brakes Group for a successful collaboration in taking Menigo to where the company is today,” says Peter Hansson, board member of Menigo and Senior Advisor, NC Advisory AB, advisor to the Nordic Capital Funds.

After Nordic Capital’s acquisition of the division ICA Meny from the ICA Group in 2006, Menigo was rebranded as a stand-alone company and a leading company within the Swedish food service industry. Menigo’s transformation included investments in operational improvement not least in new distribution hubs and a new IT system. Today, Menigo operates from seven warehouse locations in Sweden, serving 15,000 customers with daily deliveries of frozen and chilled foods, fresh meat, fruit and vegetables.

In February 2010, Nordic Capital sold a majority stake in Menigo to the Brakes Group, one of Europe’s leading suppliers of food, drinks and catering equipment to the food service sector, which became the new principal owner of Menigo while Nordic Capital retained 33 per cent ownership in Menigo. Menigo has continued to operate as an independent company in the Swedish market while benefiting from being a part of a larger group.

Nordic Capital’s current divestment is part of Sysco’s acquisition of Brakes Group that was announced on February 22 and closed on July 5, 2016.

Lubbers Logistics Group, the logistics provider to the oil and gas drilling industry, has completed the acquisition of the Special Transport divisions of Wagenborg Nedlift in the Netherlands and Wagenborg GmbH in Germany as per July 1, 2016. The acquired divisions will be fully integrated into the Lubbers organization and will continue under the brand name Lubbers. The acquisition is part of Lubbers’ strategy to further strengthen its position in the European energy logistics market. The divestment allows Wagenborg Nedlift, a specialist in horizontal and vertical heavy transport, to focus on its niche market: lifting, heavy transport and assembly.

Through the acquisition Lubbers Logistics Group expands its workforce by 89 employees and adds 73 trucks and 165 trailers to its existing truck and trailer fleet. The combination enables Lubbers to further expand its European network and by leveraging the expertise of the Wagenborg Nedlift employees, Lubbers expects to further optimize the service to its customers.

The divestment enables Wagenborg Nedlift to focus on its core activities: lifting, heavy transport and assembly. In addition, Wagenborg Nedlift secures good future prospects for the Special Transport division employees who will relocate to Lubbers.

In the coming transition period as well as in the more distant future, there will (continue to) be close cooperation between the two companies, in which the interests of the customer and the quality of service will come first and foremost.