Category Archives: News

EQT invests in RIMES, the global leader in Managed Data Services for financial institutions

eqt

  • EQT makes significant growth investment in RIMES, a leading global provider of Managed Data Services (MDS) and regulatory technology (RegTech) software solutions that address the complex needs of leading financial institutions
  • RIMES uses its proprietary technology, internal team of data management experts and relationships with 500 data partners to source, validate and configure market data in line with customer needs, ensuring superior data quality and reliability, reduced internal costs and increased operational flexibility
  • Together with RIMES’ CEO, President and Co-Founder Christian Fauvelais, EQT will support continued product innovation, further investment in technology and infrastructure, and organic as well as acquisitive growth by leveraging EQT’s global footprint and expertise across software, data and services

The EQT Mid Market Europe fund (“EQT Mid Market” or “EQT”) today announced a significant growth investment in RIMES (“the Company”), and together with Christian Fauvelais, RIMES’ CEO, President and Co-Founder, EQT will support and accelerate execution of the Company’s strategic vision.

RIMES serves the complex data needs of financial institutions with customized, scalable and cost-effective Managed Data Services and RegTech solutions. The Company pioneered the delivery of customized market and reference data via the cloud and has built a strong reputation for ensuring best-in-class data quality. Today RIMES serves more than 350 asset managers, owners, servicers and banks in 45 financial centres globally, including 60 of the top 100 global investment managers and 9 of the top 10 asset servicers in the world.

EQT will support RIMES’ vision to be the global leader in Managed Data Services across all forms of market and reference data, including benchmark, risk, ratings, fundamental, economic, alternative, ETF and ESG data. By further investing in RIMES’ technology and internal talent, EQT will support service extensions and enhancements as well as product innovations across RIMES’ offerings in data management and RegTech.

The investment in RIMES is in line with EQT’s commitment to invest in sustainable solutions, guided by the United Nations’ Sustainable Development Goals. RIMES is an emerging leader in ESG data for the investment management industry, contributing to society by providing high-quality data on sustainability and increasing transparency in the business community.

Victor Englesson, Partner at EQT Partners and Investment Advisor to EQT Mid Market, commented: “RIMES is perfectly aligned with EQT’s thematic investment approach and focus on software, data and services. EQT is excited to partner with Christian to support the continued development of RIMES and to help it achieve its full potential.”

Christian Fauvelais, CEO, President and Co-Founder of RIMES, said: “We are excited to partner with EQT for the next stage of our growth. EQT’s values strongly align with ours, and their expertise in data, software and services businesses makes them a great partner as we move to deepen our client relationships and further grow our presence in the data management space across all regions. The partnership will accelerate our ongoing commitment to our existing clients across data management and RegTech and allow us to increase the pace at which we can invest in new technology and infrastructure to bring new solutions to the market, including in areas such as ESG and ETF data.”

Robert Maclean, Managing Director at EQT Partners and Investment Advisor to EQT Mid Market, concluded: “We have been very impressed by RIMES’ achievements, and EQT looks forward to working with the team during the next stage of the Company’s growth, driven by continued investment in core solutions, support for the recently launched services in ESG and ETF data, and further enhancement of RIMES’ data management and RegTech offerings.”

The transaction is subject to customary conditions and approvals and is expected to close in the first quarter of 2020.

Contacts
Victor Englesson, Partner at EQT Partners and Investment Advisor to EQT Mid Market, +46708218440
Robert Maclean, Managing Director at EQT Partners and Investment Advisor to EQT Mid Market, +442033729427
EQT Press office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on Twitter and LinkedIn

About RIMES
RIMES is an award-winning data management and regulatory technology specialist that truly understands the challenges faced by its customers. It serves over 350 asset managers, owners, servicers and banks in 45 countries including 60 of the 100 largest global asset managers by AUM and 9 of the top 10 asset servicers in the world.

More info: www.rimes.com

Categories: News

Tags:

Regional Rail continues its growth with acquisition of Carolina Coastal Railway

3I

3i-backed Regional Rail, a leading owner and operator of short-line freight railroads and rail-related businesses in the U.S., has agreed to acquire Carolina Coastal Railway, Inc. (“Carolina Coastal”) which operates 180 miles of freight railroad in North Carolina and South Carolina, subject to authorisation from the Surface Transportation Board.

Carolina Coastal provides freight transportation and car-storage services to over 45 blue-chip customers, operating across a variety of end markets (including aggregates, food & agriculture, chemicals and metals), primarily in eastern North Carolina.

Al Sauer, CEO, Regional Rail, commented:

“Carolina Coastal is a great fit with Regional Rail as it benefits from an attractive mix of industrial customers and further diversifies our existing freight-rail platform from an end-market and geographic perspective. We look forward to welcoming all of the Carolina Coastal employees to Regional Rail and working with them to continue the company’s successful growth.”

Doug Golden, President, Carolina Coastal, commented:

“I had been looking for the right partner to continue our legacy in North Carolina and am pleased that Carolina Coastal is becoming part of the Regional Rail family. I have known Al for many years. He and his team have been great to work with on this transaction, and I believe they will be good partners in supporting our employees, customers, and all future developments.

”Rob Collins, Managing Partner, 3i North American Infrastructure, commented:

“We’re delighted to announce a second acquisition for Regional Rail as the company continues to consolidate its position in the U.S. short-line railroad industry. Following this acquisition, Regional Rail will operate 25 line segments across five states, with almost 550 miles of track.”

3i invested in Regional Rail in July 2019 and subsequently expanded the platform in January 2020 with the acquisition of Pinsly Railroad Company’s Florida operations. Today, the company provides freight transportation, railcar storage and transloading services in New York, Pennsylvania, Delaware and Florida across six railroads with over 360 miles of track connecting into a diversified Class 1 railroad network. In 2018, the combined company moved over 29,000 carloads while serving over 140 customers across an extensive set of end-user markets including heating, fuel blending, food & beverage, agriculture, chemicals and metals. In addition to freight-rail transportation, the company also provides railroad-crossing signal design, construction, inspection and maintenance services to a diverse base of over 100 short-line and industrial customers across 20 states.

-Ends-

Download the press release  

 

For further information, contact: 

3i Group plc

Silvia Santoro

Investor enquiries

 Tel: +44 20 7975 3285

Email: silvia.santoro@3i.com
Kathryn van der Kroft

Media enquiries

 Tel: +44 20 7975 3021

Email: kathryn.vanderkroft@3i.com

Notes to editors:

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com

About Regional Rail, LLC

Regional Rail, LLC is a transportation-holding company headquartered in Kennett Square, PA. It is the parent company of East Penn Railroad LLC; Middletown & New Jersey Railroad, LLC ; Tyburn Railroad, LLC; Florida Central Railroad LLC; Florida Midland Railroad Company, Inc.; Florida Northern Railroad Company, Inc. and Diamondback Signal, LLC. For further information, please visit: www.regional-rail.com

About Carolina Coastal Railway

Carolina Coastal Railway operates a 142-mile line from Raleigh to Plymouth, NC, a 17-mile line between Belhaven and Pinetown, NC, a 20-mile line between Nashville and Rocky Mount, NC, and a 7-mile line between Blacksburg and Kings Creek, SC, which is currently out of service. Carolina Coastal also serves the Port of Morehead City, NC. CLNA serves agricultural facilities and industries throughout Eastern North Carolina, and connects at various locations with Norfolk Southern Railway and CSXT. The railroad has numerous sites available for industrial development and transloading.

Regulatory information

This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group.

Categories: News

Tags:

Regional Rail continues its growth with acquisition of Carolina Coastal Railway

3I

3i-backed Regional Rail, a leading owner and operator of short-line freight railroads and rail-related businesses in the U.S., has agreed to acquire Carolina Coastal Railway, Inc. (“Carolina Coastal”) which operates 180 miles of freight railroad in North Carolina and South Carolina, subject to authorisation from the Surface Transportation Board.

Carolina Coastal provides freight transportation and car-storage services to over 45 blue-chip customers, operating across a variety of end markets (including aggregates, food & agriculture, chemicals and metals), primarily in eastern North Carolina.

Al Sauer, CEO, Regional Rail, commented:

“Carolina Coastal is a great fit with Regional Rail as it benefits from an attractive mix of industrial customers and further diversifies our existing freight-rail platform from an end-market and geographic perspective. We look forward to welcoming all of the Carolina Coastal employees to Regional Rail and working with them to continue the company’s successful growth.”

Doug Golden, President, Carolina Coastal, commented:

“I had been looking for the right partner to continue our legacy in North Carolina and am pleased that Carolina Coastal is becoming part of the Regional Rail family. I have known Al for many years. He and his team have been great to work with on this transaction, and I believe they will be good partners in supporting our employees, customers, and all future developments.

”Rob Collins, Managing Partner, 3i North American Infrastructure, commented:

“We’re delighted to announce a second acquisition for Regional Rail as the company continues to consolidate its position in the U.S. short-line railroad industry. Following this acquisition, Regional Rail will operate 25 line segments across five states, with almost 550 miles of track.”

3i invested in Regional Rail in July 2019 and subsequently expanded the platform in January 2020 with the acquisition of Pinsly Railroad Company’s Florida operations. Today, the company provides freight transportation, railcar storage and transloading services in New York, Pennsylvania, Delaware and Florida across six railroads with over 360 miles of track connecting into a diversified Class 1 railroad network. In 2018, the combined company moved over 29,000 carloads while serving over 140 customers across an extensive set of end-user markets including heating, fuel blending, food & beverage, agriculture, chemicals and metals. In addition to freight-rail transportation, the company also provides railroad-crossing signal design, construction, inspection and maintenance services to a diverse base of over 100 short-line and industrial customers across 20 states.

Categories: News

Tags:

Moda Operandi raises $100 million in new capital

Apax Digital

31 January 2020

Equity Investment Led by New Enterprise Associates and the Apax Digital Fund 

New York – Jan 31, 2020: Moda Operandi, the world’s leading platform for fashion discovery, today announced it has raised $100 million in new equity and debt financing, led by existing investors New Enterprise Associates, Inc. (NEA) and the Apax Digital Fund, with additional participation from the Santo Domingo Family, Comerica Bank and TriplePoint Capital, among others.

Moda Operandi raises $100 million in new capital

Moda will use the proceeds to continue to invest in its core client experience, innovative shopping model, unique curation of fashion, fine jewelry, and home decor, as well as the data and technology systems that power the Moda platform.

“For the past eight years, Moda has disrupted the way people shop for luxury fashion,” said Moda Operandi CEO Ganesh Srivats. “This investment will enable us to build on that innovation, investing further in the client and designer experience and connecting more of the world’s best fashion to more people.”

Dan O’Keefe, Managing Partner of Apax Digital, said: “We continue to be impressed with the power of Moda’s brand and its positioning in the luxury market. Moda has been enhancing its technology capabilities as a world leading platform for fashion discovery and is led by a world-class team. We look forward to continuing to support their expansion.”

“Moda Operandi has really disrupted the traditional ecommerce model, using technology to give people unprecedented access to fashion,” said Tony Florence, General Partner and Head of Technology Investing at NEA. “It was a really big idea when we led the Series A, and today Ganesh and the team are executing on that data-enabled retail model at scale. We are thrilled to continue supporting the company in this latest round.”

The new commitment brings Moda Operandi’s total equity capital raised to date to $345 million.

About Apax Digital

The Apax Digital Fund specializes in growth equity and buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide. The Apax Digital team leverages Apax Partners’ deep tech investing expertise, global platform, and specialized operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. For further information, please visit http://digital.apax.com.

Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

About NEA

New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With more than $20 billion in cumulative committed capital since the firm’s founding in 1977, NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of successful investing includes more than 230 portfolio company IPOs and more than 390 mergers and acquisitions. www.nea.com.

About Moda Operandi

Moda Operandi is an e-commerce platform transforming the way people discover and shop for designer fashion. Through its innovative mix of commerce and content, Moda allows women and men to shop for what’s new and what’s next in designer fashion from the world’s leading emerging designers and luxury brands. Founded in 2010, Moda Operandi’s mission is to make it easy for designers to grow their businesses and consumers to realize their personal style. Today, Moda’s platform carries more than 1,000 brands and designers across fashion, fine jewelry and home, and ships to 125 countries. For more information, visit modaoperandi.com.

Media Contacts:

Moda Operandi

Alexandra Valasek | alexandra.valasek@modaoperandi.com

Apax Digital / Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com
U.S. Media: Todd Fogarty, Connor Moriarty, Kekst CNC | +1 212 521 4800 | Apax@kekstcnc.com
UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

NEA

Kate Barrett | KBarrett@nea.com

 

Categories: News

Tags:

Insurtech Leader Policygenius Announces $100M Series D Round, Led by KKR

KKR

Investment will accelerate growth with plans to roll out new financial protection products this year

NEW YORK, Jan. 30, 2020 /PRNewswire/ — Policygenius, the leading online marketplace for comparing and purchasing insurance, announced today $100 million in Series D funding led by global investment firm KKR. Existing major investors in the company, including Norwest Venture Partners, Revolution Ventures, Susa Ventures, AXA Venture Partners, MassMutual Ventures and Transamerica Ventures, also participated in the round. Since raising its $30 million Series C round in early 2017, Policygenius has grown annualized revenues to $60 million, a 10 times increase. Policygenius will use the investment for hiring and for broader consumer financial protection products it will unveil in 2020.

Jennifer Fitzgerald and Francois de Lame, co-founders of Policygenius

Founded by Jennifer Fitzgerald and Francois de Lame in 2014, Policygenius provides a digital experience for consumers to navigate the entire insurance buying process. Policygenius has built integrations with the most trusted insurance carriers and industry-leading technology for quoting, underwriting and fulfillment.

Since its founding, Policygenius’ proprietary technology and in-house operations have delivered impressive growth. Policygenius is the fastest-growing life insurance distributor with $45 billion in life coverage issued to date. In 2019, Policygenius launched a new property and casualty insurance offering, which scaled to more than $10 million in revenue in less than 12 months. Collectively, consumers can shop for several types of insurance, including life, home, auto, disability and renters. Buoyed by this growth, the company added about 180 new employees and opened a second headquarters in Durham, North Carolina in 2019.

“Our technology platform delivers a seamless and easy experience for comparing, buying and switching insurance, at scale, nationwide. But what we’re exceptionally proud of is how Policygenius removes the complex and often misleading aspects of the insurance purchasing business entirely,” Jennifer Fitzgerald, CEO and co-founder at Policygenius, said. “With the support of our investors, we look forward to expanding our reach and product portfolio to broader financial wellness.”

“With increased competition in the insurance sector, we believe there’s a need for platforms where customers can easily manage their relationships across a number of insurance policies and carriers throughout their lifetime,” Allan Jean-Baptiste, at KKR, said. “Policygenius has created a model to provide for exactly this, set apart by its sophisticated proprietary technology, and the traction of its marketplace platform among carriers and consumers alike.”

“We are thrilled to be working with Jennifer, Francois and their dedicated team as they continue to transform consumer financial protection,” added KKR’s Jake Heller.

KKR will be making its investment through its Next Generation Technology Fund II, which held its final close earlier this month.

Allan Jean-Baptiste and Jake Heller will represent KKR on Policygenius’ Board of Directors.

About Policygenius
Policygenius is the nation’s leading online insurance marketplace, with headquarters in New York City and Durham, North Carolina. We’ve helped more than 30 million people shop for all types of insurance like they shop for everything else — online. We launched in 2014 and are one of the early insurtech pioneers. We were named one of Inc. Magazine’s Best Workplaces for 2018 and 2019 and ranked in the top ten of 2019’s Crain’s Fast 50. You can see more about open career opportunities with Policygenius by visiting: https://www.policygenius.com/careers/.

About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media Contacts

Policygenius
Brooke Niemeyer
Associate Director of Media Relations
brooke.niemeyer@policygenius.com

KKR
Kristi Huller or Cara Major
212.750.8300
Media@KKR.com

(PRNewsfoto/Policygenius)

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/insurtech-leader-policygenius-announces-100m-series-d-round-led-by-kkr-300995710.html

SOURCE Policygenius

Categories: News

Tags:

MediFox and DAN Produkte merge to create MediFox DAN Group

HG Capital

Medifox, a leading provider of software solutions to outpatient, inpatient care providers and therapy practices in Germany, has announced the merger with DAN Produkte (“DAN”), a leading German care software provider with a strong presence in inpatient care.

Transaction brings together two leaders of software innovation for the care industry, further strengthening solutions for outpatient and inpatient care providers across Germany

Together, MediFox and DAN have a 55-year history of setting new standards in product innovation and customer service across the care sector. The merger will bring together deep software and industry expertise from both businesses, leading to a number of advantages for customers, employees and other stakeholders: including faster responsiveness to regulatory changes, higher service availability and quality and increased capacity for product innovation. The two companies will form MediFox DAN-Group and will continue to invest in all existing product lines, as well as jointly develop new functionality and improvements. The group will continue to consider further acquisitions.

Hg, the specialist private equity investor focused on software and service businesses, announced its investment in MediFox in 2018 and, today, Hg has invested over $1 billion globally in the healthcare technology sector.

For more information, as well as comments from the MediFox and DAN management teams, please find the full announcement here.

Categories: News

Tags:

MediFox and DAN Produkte merge to create MediFox DAN Group

HG Capital

Medifox, a leading provider of software solutions to outpatient, inpatient care providers and therapy practices in Germany, has announced the merger with DAN Produkte (“DAN”), a leading German care software provider with a strong presence in inpatient care.

Transaction brings together two leaders of software innovation for the care industry, further strengthening solutions for outpatient and inpatient care providers across Germany

Together, MediFox and DAN have a 55-year history of setting new standards in product innovation and customer service across the care sector. The merger will bring together deep software and industry expertise from both businesses, leading to a number of advantages for customers, employees and other stakeholders: including faster responsiveness to regulatory changes, higher service availability and quality and increased capacity for product innovation. The two companies will form MediFox DAN-Group and will continue to invest in all existing product lines, as well as jointly develop new functionality and improvements. The group will continue to consider further acquisitions.

Hg, the specialist private equity investor focused on software and service businesses, announced its investment in MediFox in 2018 and, today, Hg has invested over $1 billion globally in the healthcare technology sector.

For more information, as well as comments from the MediFox and DAN management teams, please find the full announcement here.

Categories: News

Tags:

SCHEMA Group adds Docware to its portfolio of companies

ik-investment-partners

SCHEMA Group, a developer of software solutions for content lifecycle management (Component Content Management System SCHEMA ST4 and Content Delivery Solution SCHEMA CDS), is completing a full takeover of Docware GmbH with effect from 20 January 2020. The service information system manufacturer is the latest addition to the SCHEMA Group’s portfolio of companies. SCHEMA Group had already reinforced their position in this area back in May 2019, by increasing its stake in TID Informatik from 27% to 100%. With the acquisition of Docware GmbH, the SCHEMA Group is now even stronger in this sector. In addition, the SCHEMA Group develops software solutions for generating and maintaining ‘Technical Information’, which, in combination with ‘Service Information’, is seen as the basis for smart content integration into Industry 4.0 and the Internet-of-Things devices.

“The decision to integrate Docware into the SCHEMA Group not only resolves succession issues, it also provides excellent future prospects for our customers and our employees,” enthuses Werner Hofmeister, founder and Managing Director of Docware GmbH. “Under the umbrella of the SCHEMA Group, Docware – together with TID Informatik – is strengthening its presence on the market, which is not only more attractive for decision-makers, but also means customers have a broader product portfolio to choose from. I am sure that this merger will help us to generate huge growth potential for the future.”

Marcus Kesseler, founder and Managing Director of SCHEMA Group, explains: “With Docware, we are gaining another company that has been firmly established on the market for many years. All three companies in the group are leaders in their segment and are showing significant growth. We are also working together on new product innovations, which should give us access to new markets. In the SCHEMA Group, we offer a unique range of products and services that provides significant added value for our customers.”

The acquisition of Docware will increase the number of SCHEMA Group employees to over 250. Together, the companies have more than 1000 customers in over 25 countries. This means SCHEMA Group is now one of Germany’s leading software manufacturers.

What is SCHEMA?
The SCHEMA Group was founded in Nuremberg in 1995 and is a medium-sized software manufacturer with more than 130 employees. The SCHEMA Group produces component content management and content delivery solutions for editorial offices that create product-related content. Software from SCHEMA helps companies to describe complex products and to produce and distribute these descriptions on different media.

The XML editing system SCHEMA ST4 is one of the most widely used systems for the modular creation of documentation, package inserts and marketing materials. The system covers all areas of creation, versioning, variant control, translation, administration and publication of product-related content – from authoring support during input to the finished layout for the print catalog.
The SCHEMA Content Delivery Server offers companies a standard solution for automatically distributing intelligent information created in editorial systems to end users in a targeted and context-specific manner. This ensures that exactly the right information arrives automatically on mobile devices.

SCHEMA’s software solutions are used by more than 500 customers in the mechanical engineering, automotive, information technology, electronics, medical technology and pharmaceutical industries. Customers such as ABB, Agilent, Andritz, Bentley, Bombardier, Bosch, Bundesanzeiger, Carl Zeiss, Caterpillar, Daimler, Datev, Doppelmayr, General Electric, KSB, MAN, Miele, Österreichische Bundesbahnen, Philips, Porsche, Roche, Schaeffler Group, SEW Eurodrive, Siemens, SMA, Toyota, TüV, Voith and Wincor Nixdorf and many others rely on SCHEMA systems.

SCHEMA. Complex documents easy. www.schema.de

Categories: News

Tags:

Hg invests in Intelerad Medical Systems, accelerating growth of best-in-class enterprise medical imaging solutions provider

HG Capital

  • Transaction will reinforce Hg’s focus on healthcare technology, with over $1bn invested to date in the sector globally;
  • Intelerad will look to use this new investment and expertise to maximize client business and health outcomes through innovation and operational excellence.

London, U.K. and Montreal, Canada, 23 January 2020

Hg, the specialist private equity investor focused on software and service businesses, today announces that it has finalized an agreement for an investment in Intelerad Medical Systems™ (“Intelerad”), a leading global provider of medical imaging software and enterprise workflow solutions. The terms of the transaction are not disclosed. The transaction is expected to close in the first quarter of 2020, following satisfaction of customary regulatory approvals.

Founded in 1999, Intelerad is a medical imaging software provider that specialises in diagnostic viewing, reporting and collaboration solutions for radiologists. Headquartered in Montreal (CA), Intelerad has over 400 employees located in various offices in Canada, the United States, the United Kingdom, and Australia. The company serves over 300 healthcare organizations around the world, including radiology groups, imaging centers, clinics and reading groups, and has a strong and growing presence in hospital imaging departments. Intelerad was awarded Best in KLAS recognitions, ranking #1 for PACS Canada and #1 for PACS Asia/Oceania in the 2019 Best in KLAS: Global Software (Non-US) report.

Hg recognizes Intelerad’s leading role in supporting radiologists globally to deliver highly accurate diagnoses at optimum productivity. The business is a key enabler of healthcare delivery against a backdrop of increasing global demands, in radiology, for scalable and more efficient imaging, data management and workflow solutions. Intelerad is led by a highly-talented team who have developed powerful solutions for radiologists, offering both efficiency and a premium service that helps create superior outcomes for both patients and healthcare providers.

Healthcare technology is a core sector for Hg, with an investment focus on healthcare operations, core systems, life sciences digitization, interoperability and population health. Intelerad represents the 5th healthcare technology investment in Hg’s current portfolio, joining Rhapsody + Corepoint, a global leader in healthcare interoperability and data liquidity solutions; Allocate Software, a global provider of healthcare workforce and risk management software; Evaluate, which supplies mission-critical commercial information to the pharmaceutical industry globally; and Medifox, which provides software solutions to ambulatory care services, elderly care homes and therapists.

Hg’s investment will be made from the Hg Genesis 8 Fund and represents the firm’s first investment in Canada and second investment led by the New York office, since opening in 2019. The Hg team was led by Gero Wittemann, Hector Guinness, J-B Brian and David Issott.

Under the terms of the agreement, Hg will acquire Intelerad from Novacap’s TMT IV Fund, and its founders, management and employee shareholders who will all be re-investing into the business alongside Hg.

Paul Lepage, Chief Executive Officer at Intelerad, said:

“Partnering with Hg gives us access to a huge pool of knowledge in global healthcare technology and the opportunity to significantly advance the company’s strategy. We are thrilled to continue making a difference in healthcare with such talented people. As well as welcoming our new investors, I also thank the Novacap team and our colleagues who all worked so hard to get us into this strong position, as well as our customers for their continued trust over the last 20 years. Looking forward to exciting times ahead.”

Gero Wittemann, Partner and co-lead of Hg’s New York team, commented:

“Intelerad has a winning platform that creates significant efficiencies for healthcare organizations, while adding true value to help radiologists and other physicians view, interpret and share medical images. We fully embrace Intelerad’s vision in making a sustainable difference in healthcare and it’s particularly exciting to join Paul and the team at this stage in the company’s journey. We will look to leverage our experience in healthcare technology and our operational experts to support the business strategy through innovation and operational excellence.”

Hg were advised on the investment by Tripletree, Bain, Marwood, EY and White & Case.

Categories: News

Tags:

IK Investment Partners joins Amin Khiari and Quilvest by investing in GEDH to accelerate its development

ik-investment-partners

Groupe EDH (“GEDH” or the “Group”), controlled by Quilvest Capital Partners (“Quilvest”) and Amin Khiari, has announced that IK Investment Partners (“IK”), a leading Pan-European private equity firm, has acquired a minority stake in the Group. The investment demonstrates a common willingness to pursue a strong development strategy for the private higher education Group, expanding both in France and internationally.

A pioneer in the field of communication (EFAP), cultural management (ICART) and journalism (EFJ), the Group, managed by Amin Khiari since 2014, received investment from Quilvest in 2017 in order to support its growth plan and in particular its external growth operations. GEDH has since completed the acquisitions of the Brassart and Aries schools, both specialised in the field of digital creation, now combined under the Brassart brand with a presence in 13 cities in France. More recently, the Spanish communication and design university CESINE, based in Santander, joined the Group.

“Our Group has undergone a significant development phase over the past five years through a combination of organic growth, geographic expansion and external growth, increasing from 2,000 to nearly 7,000 students, from three to five schools and from five to twenty campuses. We are proud of these results, rewarding a continuous improvement strategy of both our programs and educational methods to offer an ever better service and professional insertion to our students. The investment from IK will provide us with the necessary resources to pursue a next phase of growth in the coming years, in keeping with the identity and values of our schools,” said Amin Khiari, Chairman of GEDH

IK’s investment will allow the Group to keep up with the financing requirements in its existing schools and through their geographic roll-out, as well as for the acquisition and integration of new campuses in France and abroad, strengthening the position of GEDH as a leader in private higher education in France.

“We are delighted that the management of GEDH and Quilvest have decided to place their trust in us and to be able to contribute to the wider development of these schools. Our approach is based on a clear ambition: to build a champion in higher education in the fields of communication, culture and creation, in France and abroad,” added Thomas Grob, Partner at IK Investment Partners.

Quilvest Capital Partners retains its reference shareholding position in Groupe EDH, alongside Amin Khiari.

“We are familiar with the professionalism and quality of IK Investment Partners’ team and we look forward to building this new team alongside the management of Groupe EDH and continue the fantastic development that we have experienced for several years,” stated Thomas Vatier, Partner at Quilvest Capital Partners.

Parties involved in the transaction

Buyside
IK Investment Partners:  Thomas Grob, Thibaut Richard, Florent Labiale, Adrien Normand
Legal advisor: Goodwin (Thomas Maitrejean, Mathieu Terrisse)
Commercial advisor: PMSI (Rémi de Guilhermier, Lucinda Nicholson)
Financial advisor: Eight Advisory (Lionnel Gerard, Guillaume Catoire)
Legal and tax advisor: PwC Société d’avocats (Jérôme Gertler, Marc-Olivier Roux, Bernard Borrely)

Sellside
Quilvest Capital Partners: Thomas Vatier, Loeiz Lagadec, Hichem Hadjoudj
M&A advisor:  Eurvad Finance (Charles Guigan, Yassine Jnan, Martin Klotz)
Legal advisor: Mayer Brown: Corporate (Olivier Aubouin, Patrick Loiseau Renan Lombard-Platet, Alexandre de Puysegur); Financing (Patrick Teboul, Marion Minard, Julien Léris); Tax structure (Elodie Deschamps, Pauline Barbier)
Financing advisor: Finaxeed (Vincent Rivaillon, Matthieu Lecomte)
Financial advisor: Exelmans (Stéphane Dahan, Richard Dahan, Chenwei Xu, Géraud Delloye)
Legal, tax and real-estate advisor: Delsol: Corporate (Henri-Louis Delsol et Alexandre Zitoune); Tax (Julien Monsenego et Margot Lasserre); Social (Delphine Bretagnolle, Jessica Neufville et Céline Coelho); Real estate (Benoît Boussier et Cérine Chaieb)
Private lenders advisor: Allen & Overy (Jean-Christophe David, Thomas Roy)

Management team
Amin Khiari, CEO
Legal advisor: Gomel Avocats (Arnaud Gomel)
Tax advisor: Ayache Salama (Bruno Erard)

Joint advisors
Private lenders: CIC Private Debt (Pierre-Jean Mouesca, Marie de Taisne, Maureen Planchard); Idinvest (Eric Gallerne, Maxime de Roquette Buisson, Emmanuelle Tanguy)

For further questions, please contact:

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

International:
Maitland
James McFarlane
+44 (0) 207 379 5151
jmcfarlane@maitland.co.uk

FTI Consulting for Quilvest Capital Partners
Anna Adlewska
+33 (0) 1 47 03 68 56
anna.adlewska@fticonsulting.com

GEDH
Emmanuelle Baruch
e.baruch@groupe-edh.com

About Groupe EDH
Founded in 1961 by Denis Huisman, and succeeded by Amin Khiari in 2014, GEDH is comprised of 5 reference schools, namely EFAP (Communication), ICART (Art and Culture Management), EFJ (Journalism), Brassart (Digital Creation), and CESINE (Design, Marketing and Communication) with 20 campuses in France and abroad.

Benefiting from a powerful network of international partners from the corporate and academic world, GEDH has developed a unique pedagogy focused on strong professional exposure and work experiences. The different schools account for more than 7,000 students and 30,000 alumni throughout the world.

About IK Investment Partners
IK Investment Partners is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €10 billion of capital and invested in over 130 European companies. IK funds support 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, visit www.ikinvest.com

About Quilvest Capital Partners
Quilvest Capital Partners is the private equity arm of the Quilvest Group, a leading, global, independent wealth manager and private equity investor, which was created by a family of entrepreneurs in Paris a century ago. Since 1972, Quilvest Capital Partners partners with family owners and entrepreneurs of private small and medium sized companies in their ambitious, long-term growth projects. Over the last 40 years, Quilvest has backed over 150 mid-sized companies. Quilvest has a team of 15 investment professionals based in Paris and New York and invests equity tickets comprised between 20 and 70 million euros, through both majority and minority stakes. Quilvest Capital Partners also manages several investment programmes in private equity funds, private debt and private real estate. Quilvest Capital Partners manages around $5 billion of assets.

Press Service

E-mail us
Subscribe to press releases

Categories: News

Tags: