Category Archives: News

Fresks acquires XL-BYGG Mellerud

Litorina

Fresks continues to expand through the acquisition of XL-Bygg Mellerud, a building material store located in Mellerud, Västra Götaland. The previous owner, Benny Mattsson, will reinvest a significant part of the proceeds from the transaction in Fresks Group.

XL-BYGG Mellerud was founded in 2008 and has been run by Benny Mattsson and his son Thomas Mattsson since 2012. The business consists of the building store in Mellerud, which is located in Dalsland county in Västra Götaland. The store is a part of the XL-BYGG chain. Today, the company has 8 employees and a turnover of approximately SEK 30 million.

After the acquisition Fresks Group will have a total of 32 stores with pro forma revenues of approximately SEK 2 billion and more than 500 employees.

For further information, please contact:

Leif Lindholm, +46 70 698 27 00, CEO Fresks Group

Fresks, founded in 1862 is a leading Swedish building material retail chain in Sweden focused on the professional segment. The company has 32 stores under various local brands whereof the majority is branded XL-BYGG. Fresks sells high quality building material with high degree of service primarily to small and mid-sized professional customers. For more information, please visit www.fresks.se

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Waterlogic acquires Minnesota Water and Water Engineering Technologies

Castik Capital

Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce the acquisitions of Minnesota Water and Water Engineering Technologies.

Minnesota Water, based in Maplewood, Minnesota, has been a leading provider of PHSI point-of-use water coolers since 2012. The acquisition provides Waterlogic with a direct operation in the Minneapolis-St. Paul area, increasing Waterlogic’s direct service and sales presence to 50 markets throughout the U.S. and Canada including all the top 40 U.S. Metropolitan Statistical Areas.

Steve and Shelly Norenberg, owners of Minnesota Water, said, “We are delighted to have completed the sale of our business to Waterlogic. We could not have found a better option for our customers, our employees, or our family. We appreciated how honest and transparent Waterlogic was throughout the process and we will be excited to see the business grow under Waterlogic’s ownership.”

Water Engineering Technologies (W.E.T.) is a premium provider of point-of-use water coolers, headquartered in Burien, Washington since 1998. The acquisition of W.E.T.’s business strengthens Waterlogic’s market presence in the Pacific Northwest, allowing for increased and more efficient customer reach in this important market.

Chuck Lockart, Owner, Water Engineering Technologies, said, “Waterlogic was great throughout the process and I am very pleased with the transaction. I have a lot of long-time customers and I know that they will be in good hands with Waterlogic.”

With these two acquisitions, Waterlogic has now completed five acquisitions in the U.S. and Canada in the last nine months:

  • Pure Water Technology of the Inland Empire – Redlands, California
  • Streamline Water – El Paso, Texas
  • Just Pure Water – Toronto, Ontario
  • Water Engineering Technologies – Seattle, Washington
  • Minnesota Water – Minneapolis, Minnesota

With these acquisitions, and a strong focus on organic growth, Waterlogic services nearly 100,000 point-of-use coolers throughout North America, delivering on its customer promise of ‘hassle free, great tasting water, every day’.

 

“I am thrilled to add these two excellent companies to Waterlogic Americas,” said Casey Taylor, CEO Waterlogic Americas. “With Minnesota Water, we expand our presence in Minneapolis to help us provide even better service in the Twin Cities. Likewise, combining Water Engineering Technologies with our existing Seattle branch will allow us to reach more customers in the Pacific Northwest. We are adding outstanding employees from each company, with significant experience and expertise, making our team even stronger.”

Waterlogic remains dedicated to growth in the Americas, both through organic sales and through acquisition.

Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. Minnesota Water and W.E.T. are the most recent acquisitions as part of the company’s buy and build strategy since the acquisition by Castik, and following substantial acquisitions in the US, UK, Australia, Spain, France, Germany, and Scandinavia.

 

– ENDS –

Media Contact

Rosanna Turner, Group Marketing Communications Manager

rosanna.turner@waterlogic.com

About Waterlogic

Waterlogic is an innovative designer, manufacturer, distributor and operator of Point-Of-Use (POU) drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants and other workplaces. Founded in 1992, Waterlogic was one of the first companies to introduce POU systems to customers worldwide, and has been in the forefront of the POU market, promoting product design and quality, the application of new technologies and world class sales and service. Waterlogic has its own subsidiaries in many markets and an extensive and expanding independent global distribution network in place, reaching over 60 countries around the world. Waterlogic products are currently distributed in North and South America, Europe, Asia, Australia and South Africa. Waterlogic’s leading markets are the US, Australia and Western Europe, in particular the UK, Scandinavia, Germany and France. More information can be found at www.waterlogic.com

About Castik

Castik Capital S.à r.l (“Castik”) manages investments in private equity. Castik is a European multistrategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with management teams. Founded in 2014, Castik is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik is Castik Capital Partners GmbH, based in Munich. Investments are made by the Luxembourg-based fund, EPIC I SLP, the first fund managed by Castik, which had its final fund close of EUR 1bn in July 2015.

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KKR Completes Acquisition of BMC Software

KKR

HOUSTON, Oct. 2, 2018 /PRNewswire/ — BMC, a global leader in IT solutions for the digital enterprise, today announced the completion of the acquisition of BMC by KKR, a leading global investment firm. The company was acquired from a private investor group led by Bain Capital Private Equity and Golden Gate Capital together with GIC, Insight Venture Partners, and Elliott Management.  The terms of the agreement, which was previously announcedin May 2018, were not disclosed.

“As we embark on our next chapter with KKR, BMC continues to provide our customers with transformational solutions that help them manage and optimize information technology across cloud, hybrid, on-premise, and mainframe environments,” said Peter Leav, President and Chief Executive Officer of BMC. “With KKR’s support, and the strength of BMC’s world-class team, we will continue to grow and invest in our future as we drive innovation and results, and meet the changing needs of our customers and the marketplace. BMC is well-positioned for future growth and success.”

Headquartered in Houston, BMC Software serves more than 10,000 customers worldwide, including 92% of the Forbes Global 100. Since 1980, BMC has consistently expanded its scope alongside constantly evolving IT markets to address the ever-changing needs of the global enterprise. This year, BMC was recognized as one of America’s best employers for the third consecutive year by Forbes.

About BMC 
BMC helps customers run and reinvent their businesses with open, scalable, and modular solutions to complex IT problems. Bringing both unmatched experience in optimization and limitless passion for innovation to technologies from mainframe to mobile to cloud and beyond, BMC helps more than 10,000 customers worldwide reinvent, grow, and build for the future success of their enterprises, including 92 of the Forbes Global 100.

BMC—the multi-cloud management company. www.bmc.com

BMC – The Multi-Cloud Management Company
BMC, BMC Software, and the BMC logo are the exclusive properties of BMC Software Inc., are registered or pending registration with the U.S. Patent and Trademark Office, and may be registered or pending registration in other countries. All other BMC trademarks, service marks, and logos may be registered or pending registration in the U.S. or in other countries. All other trademarks or registered trademarks are the property of their respective owners. ©Copyright 2018 BMC Software, Inc.

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 manager partnerships 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.

Editorial contacts:
Sheila Watson
BMC
D: 713.918.8832
M: 713.294.6818
sheila_watson@bmc.com

Kristi Huller or Samantha Norquist
KKR
D: 212.750.8300
media@kkr.com

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Waterlogic acquires Minnesota Water and Water Engineering Technologies

Castik Capital

Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce the acquisitions of Minnesota Water and Water Engineering Technologies.

Minnesota Water, based in Maplewood, Minnesota, has been a leading provider of PHSI point-of-use water coolers since 2012. The acquisition provides Waterlogic with a direct operation in the Minneapolis-St. Paul area, increasing Waterlogic’s direct service and sales presence to 50 markets throughout the U.S. and Canada including all the top 40 U.S. Metropolitan Statistical Areas.

Steve and Shelly Norenberg, owners of Minnesota Water, said, “We are delighted to have completed the sale of our business to Waterlogic. We could not have found a better option for our customers, our employees, or our family. We appreciated how honest and transparent Waterlogic was throughout the process and we will be excited to see the business grow under Waterlogic’s ownership.”

Water Engineering Technologies (W.E.T.) is a premium provider of point-of-use water coolers, headquartered in Burien, Washington since 1998. The acquisition of W.E.T.’s business strengthens Waterlogic’s market presence in the Pacific Northwest, allowing for increased and more efficient customer reach in this important market.

Chuck Lockart, Owner, Water Engineering Technologies, said, “Waterlogic was great throughout the process and I am very pleased with the transaction. I have a lot of long-time customers and I know that they will be in good hands with Waterlogic.”

With these two acquisitions, Waterlogic has now completed five acquisitions in the U.S. and Canada in the last nine months:

  • Pure Water Technology of the Inland Empire – Redlands, California
  • Streamline Water – El Paso, Texas
  • Just Pure Water – Toronto, Ontario
  • Water Engineering Technologies – Seattle, Washington
  • Minnesota Water – Minneapolis, Minnesota

With these acquisitions, and a strong focus on organic growth, Waterlogic services nearly 100,000 point-of-use coolers throughout North America, delivering on its customer promise of ‘hassle free, great tasting water, every day’.

 

“I am thrilled to add these two excellent companies to Waterlogic Americas,” said Casey Taylor, CEO Waterlogic Americas. “With Minnesota Water, we expand our presence in Minneapolis to help us provide even better service in the Twin Cities. Likewise, combining Water Engineering Technologies with our existing Seattle branch will allow us to reach more customers in the Pacific Northwest. We are adding outstanding employees from each company, with significant experience and expertise, making our team even stronger.”

Waterlogic remains dedicated to growth in the Americas, both through organic sales and through acquisition.

Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. Minnesota Water and W.E.T. are the most recent acquisitions as part of the company’s buy and build strategy since the acquisition by Castik, and following substantial acquisitions in the US, UK, Australia, Spain, France, Germany, and Scandinavia.

 

– ENDS –

Media Contact

Rosanna Turner, Group Marketing Communications Manager

rosanna.turner@waterlogic.com

About Waterlogic

Waterlogic is an innovative designer, manufacturer, distributor and operator of Point-Of-Use (POU) drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants and other workplaces. Founded in 1992, Waterlogic was one of the first companies to introduce POU systems to customers worldwide, and has been in the forefront of the POU market, promoting product design and quality, the application of new technologies and world class sales and service. Waterlogic has its own subsidiaries in many markets and an extensive and expanding independent global distribution network in place, reaching over 60 countries around the world. Waterlogic products are currently distributed in North and South America, Europe, Asia, Australia and South Africa. Waterlogic’s leading markets are the US, Australia and Western Europe, in particular the UK, Scandinavia, Germany and France. More information can be found at www.waterlogic.com

About Castik

Castik Capital S.à r.l (“Castik”) manages investments in private equity. Castik is a European multistrategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with management teams. Founded in 2014, Castik is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik is Castik Capital Partners GmbH, based in Munich. Investments are made by the Luxembourg-based fund, EPIC I SLP, the first fund managed by Castik, which had its final fund close of EUR 1bn in July 2015.

Categories: News

Segulah V L.P. acquires Swedish colocation business

Segula

Segulah V L.P. acquires Swedish colocation business

Segulah V L.P. has entered into an agreement to acquire Sungard Availability Services’ Swedish business. The transaction was completed on September 28, 2018. Going forward, the business will operate under the new corporate name Conapto.

Conapto operates two data centers and one recovery site in the Stockholm area. The Company can trace its heritage back to 1982 when the first data center was set up and operated under the name Backupcentralen. Since then, the business has developed from primarily offering disaster recovery services to focusing on premium colocation services and offering related solutions such as connectivity and cloud access.

Segulah will appoint Ulf Engerby (Chairman) and Ann Hellenius as directors of the board. Ulf has significant experience from the IT infrastructure and cloud outsourcing market as co-founder and former owner of Qbranch. Ann, incoming CIO at Scandic Hotels, has extensive knowledge of digital transformation in both the private and public sectors.

Håkan Björklund will join Conapto as CEO. Håkan has previously spent almost eleven years at Sungard Availability Services’ Swedish business, most recently as Head of operations until June 2017.

“I look forward to working together with Segulah to grow Conapto and develop the business for our customers. We will create a platform for our clients where they can meet the IT needs of tomorrow, and be a natural step in their migration to the cloud”, says Håkan Björklund, new CEO at Conapto.

“We are excited about the prospects of investing in further developing and expanding the Conapto business together with an experienced team and competent board. Conapto is a high quality colocation operator in its segment with multiple avenues for further growth in a rapidly changing IT environment”, says Percy Calissendorff, Partner at Segulah Advisor AB.

 

The acquisition is the seventh investment for Segulah V L.P.

 

For further information, please visit www.conapto.se, www.segulah.com or contact:

Håkan Björklund, CEO, Conapto, +46 70 559 07 86

Percy Calissendorff, Partner, Segulah Advisor AB, +46 73 347 62 81

Johan Möllerström, Investment Manager, Segulah Advisor AB, +46 72 543 79 11

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GP Bullhound advises Extenda on its sale to STG Partners

Gp Bullhound

GP Bullhound acted as exclusive financial advisor to Extenda Holding AB on its sale to STG Partners, the California based private equity firm focused on investing in innovative software, data, and analytics companies
Extenda is one of Europe’s leading providers of Point of Sale software to tier 1 retailers. Extenda’s product range includes omni-channel solutions, self-scanning and self-checkout, mobile POS and e-commerce integrations. STG Partners has also signed an agreement to acquire Visma Retail from The Visma Group, and will merge Extenda and Visma Retail to form Extenda Retail.

Håkan Valberg, CEO of Extenda commented: “This merger is a perfect match in terms of complementary solutions, geographic coverage, delivery capabilities and organisational culture, all backed by one of the most respected investors in the market. We can push ahead with our growth plans for the new organisation with great confidence. GP Bullhound has been a great advisory partner and their global reach, software industry expertise and execution capabilities proved invaluable in delivering this transaction for us.”

Carl Wessberg, Executive Director at GP Bullhound, commented: “It has been a pleasure to work with Extenda. We are convinced that we have found a great partner for Extenda in STG Partners, and that the combination of Extenda and Visma Retail into Extenda Retail will form a compelling offering.”

This is GP Bullhound’s 16th transaction in 2018, and the firm’s 8th deal completed in the Nordics in the last 20 months including the recent sale of Solita to Apax Digital, the sale of The North Alliance to Norvestor, and the sale of Icomera to Engie Ineo, among others.

Enquiries
For enquiries please contact: Carl Wessberg, Executive Director, at carl.wessberg@gpbullhound.com, or Johannes Åkermark, Vice President, at johannes.akermark@gpbullhound.com.

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

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AkzoNobel closes sale of Specialty Chemicals to The Carlyle Group and GIC

Carlyle

Amsterdam, Netherlands – Akzo Nobel N.V. (AKZA; AKZOY) has today completed the sale of the Specialty Chemicals business to The Carlyle Group and GIC for an enterprise value of €10.1 billion.

Thierry Vanlancker, CEO of AkzoNobel, commented: “Today is a key milestone in the history of AkzoNobel, creating a focused paints and coatings company, with market leading positions, strong global brands, and a clear strategy to create value for all our stakeholders.

“This is also an important step for the Specialty Chemicals business and I would like to take this opportunity to say thank you to our colleagues and wish them a successful future with Carlyle and GIC.”

Charles Shaver, CEO of Specialty Chemicals, said: “I am delighted to assume my new role at Specialty Chemicals and look forward to working with the management team, Carlyle and GIC to deliver long term success. Specialty Chemicals has a strong global presence and a talented and dedicated team and I believe there is significant opportunity to drive additional growth through innovation and customer focus to build on the company’s leading positions in its markets.”

Martin Sumner and Zeina Bain, Managing Directors at The Carlyle Group, added: “We are excited to invest in Specialty Chemicals and we are committed to growing the business and continuing to enhance its competitive position. Specialty Chemicals has a great heritage, a high quality asset base and workforce, an excellent track record of innovation as well as a diversified customer and product portfolio. We look forward to working with Charlie and the management team to support Specialty Chemicals as it embarks on a new phase as an independent company.”

As agreed at the Extraordinary General Meeting of November 30, 2017, AkzoNobel will return the vast majority of net proceeds from the sale of Specialty Chemicals to its shareholders. Further details will be announced in due course.

*****

About AkzoNobel

AkzoNobel has a passion for paint. We’re experts in the proud craft of making paints and coatings, setting the standard in color and protection since 1792. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. Headquartered in the Netherlands, we operate in over 80 countries and employ around 35,000 talented people who are passionate about delivering the high performance products and services our customers expect.

About AkzoNobel Specialty Chemicals

Industries worldwide rely on our essential chemistry in the manufacture of everyday products such as paper, plastics, building materials, and personal care items. Building on the dedication of our 9,500 employees and our shared commitment to safety, sustainability, and open innovation, we have established a world-class business and built strong partnerships with our customers. We operate in over 80 countries around the world and our portfolio of industry leading brands includes Eka, Dissolvine, Trigonox, and Berol.

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $210 billion of assets under management across 335 investment vehicles as of June 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents.

About GIC

GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. It has investments in over 40 countries. As a disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate, and infrastructure. In private equity, GIC invests through funds as well as directly in companies, partnering with its fund managers and management teams to help world class businesses achieve their objectives. GIC adds value to boards and management of investee companies by providing advice and access to its global network. Headquartered in Singapore, GIC employs over 1,400 people across 10 offices in key financial cities worldwide. For more information about GIC, please visit www.gic.com.sg

AkzoNobel Media Relations
Diana Abrahams
+31 (0)88 – 969 7833
media.relations@akzonobel.com

The Carlyle Group
Rory Macmillan
rory.macmillan@carlyle.com
+44 (0) 20 7894 1630

Katarina Sallerfors
katarina.sallerfors@carlyle.com
+44 (0)20 7894 3554

Safe Harbor Statement

This press release contains statements which address such key issues such as AkzoNobel’s growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business please see our latestannual report, a copy of which can be found on our website: www.akzonobel.com.

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Questel acquires intellectual property translation leader MultiLing

ik-investment-partners

Questel, one of the world’s largest online intellectual property (IP) service providers, has acquired MultiLing, a global leader in patent translations, with the support of its financial investors IK Investment Partners and Raise.

Founded in 1988 and based in Utah, MultiLing leverages their advanced technology platform to provide the highest quality patent translation services in the most cost-effective manner. Led by its founder, Michael Sneddon, and supported by its 235 employees across eight countries, MultiLing serves 350 clients globally (mostly large corporations) in their process of international filing of patents.

This acquisition is part of Questel’s strategy to build a one-stop-shop offering. MultiLing’s translation activities are highly complementary and synergetic to Questel’s ITIP Foreign Filing activities. The enlarged group reaches an annual turnover of c. MUSD 100 and 500 employees worldwide. This consolidates its rank among the global leaders of the IP industry.

“MultiLing is the right fit for Questel both culturally and strategically,” says Charles Besson, Questel CEO. “Translation is a key part in the foreign filing process where Questel became the world leader in 2017.”

“This is the combination of two recognized players with more than 80 years of cumulated experienced in IP,” adds Michael Sneddon, CEO and founder of Multiling. “Our unique technology will also be used to improve the translated Questel patent databases which are searched and analysed in Orbit, its online software platform”.

“The transformational acquisition of MultiLing is a key milestone in the equity story of Questel and we look forward to partnering with MultiLing’s management team” said Dan Soudry, Managing Partner at IK Investment Partners.

For further questions, please contact: 

IK Investment Partners
Dan Soudry, Managing Partner
Phone: +33 1 44 43 06 60

Mikaela Hedborg
Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

About Questel
Questel is one of the world’s leading intellectual property management companies, delivering complete software and service solutions for each stage of the innovation lifecycle. And, for both software and services, Questel leverages a comprehensive and unique collection of intellectual property and scientific databases.

With recent acquisitions of ITIP and MultiLing, Questel now delivers the world’s largest and highest quality services for foreign filing of patent applications and translations. These services, when added to Questel’s e-learning and general IP consulting, make Questel the final destination to fulfill the most critical IP and Innovation needs. For more information, please visit www.questel.com

About MultiLing
MultiLing is the world’s premier provider of intellectual property language translation and support with eight fully operational offices around the world and experts who can translate in more than 200 language pairs

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IK Investment Partners to sell Transnorm to Honeywell

ik-investment-partners

IK Investment Partners to sell Transnorm to Honeywell

IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK VII Fund has reached an agreement to sell Transnorm Group (“Transnorm” or “the Company”), a leading provider of automation technology used in parcel, distribution and e-commerce warehouses, to Honeywell International (“Honeywell”) (NYSE: HON) for approx. MEUR 425.

Founded in 1957, Transnorm has grown to become a global market leader for high-performance engineered conveyor solutions. The Company serves a global blue-chip customer base with strong relationships to all major system integrators as well as global parcel and e-commerce companies. In addition to its broad product portfolio, Transnorm also offers for its installed base of c. 160.000 units aftermarket services comprised of spare parts, maintenance and repair as well as training to its customers. Transnorm is headquartered in Harsum, Germany, with additional production sites in Arlington, United States and Bangkok, Thailand.

During IK’s ownership, Transnorm pursued a successful strategy of internationalisation, product innovation and the expansion of aftermarket services. The Company also more than doubled its revenues and nearly tripled its operating profit whilst investing significant resources into R&D, product development and production capacity expansion. The Company’s annual sales are approx.
MEUR 100 and are on track to grow by more than 30 per cent in 2018.

Anders Petersson, Partner at IK, said:
“We are delighted with the progress that Transnorm has made over the last years, becoming a true global player. With a new strategic partner in Honeywell and the benefit of additional scale, we are convinced that Transnorm will continue to grow and we thank and wish the management team and employees continued success.”

Sidy G. Diop, Managing Director of Transnorm, said:
“We enjoyed working with the IK team. With their support, we have expanded our international footprint, strengthened our relationships with customers and completed a synergetic add-on acquisition with Sovex which expanded our product offering with (un-)loading modules. We now look forward to working with Honeywell to further build on this success.”

The sale of Transnorm marks the third successful exit from the IK VII Fund.

Completion of the transaction is subject to merger control approvals.

Parties & IK Investment Partners’ advisors involved:

IK Investment Partners: Anders Petersson, Daniel-Vito Günther
Seller legal advisor: Renzenbrink & Partner (Ulf Renzenbrink)
Seller M&A advisor: Alantra (Frank Merkel)
Seller financial advisor: Deloitte (Jens Schulze-Vellinghausen)
Seller commercial advisor: goetzpartners (Sigurd Kitzer)

For further questions, please contact: 

IK Investment Partners 
Anders Petersson
Partner
Phone: +49 40 369 88 50

Mikaela Hedborg
Director Communications & ESG
Phone: +44 77 87 573 566 mikaela.hedborg@ikinvest.com

Transnorm
Guido Vaupel
Head of Marketing
Phone: +49 5127 402 305
guido.vaupel@transnorm.de

About IK Investment Partners
IK Investment Partners (“IK”) 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 €9.5 billion of capital and invested in over 120 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 Honeywell
Honeywell is a Fortune 100 software-industrial company that delivers industry specific solutions that include aerospace and automotive products and services; control technologies for buildings, homes, and industry; and performance materials globally. Our technologies help everything from aircraft, cars, homes and buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable, visit www.honeywell.com

About Transnorm
Transnorm is a leading provider of automation technology and related aftermarket services used in parcel, distribution and e-commerce warehouses. Their products are installed by many well-known, global, end users in a wide variety of industries. Transnorm is the global market leader in conveyor belt curve engineering and manufacturing. The Company has a global engineering and assembly footprint, as well as customer support. Customers can be sure of reliable support wherever they are. For more information, visit www.transnorm.com

T

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Apax Partners wins Private Equity International Operational Excellence Award for GlobalLogic Inc.

Apax

1 October 2018

Apax Partners is pleased to announce it has won the inaugural “Editors’ Award” (in America) for GlobalLogic at the Private Equity International Operational Excellence Awards 2018. The awards celebrate best practice in value creation across the private equity industry.

GlobalLogic is a leader in digital product engineering services helping blue chip clients design, build, and deliver their digital products.

The Apax Funds acquired GlobalLogic Inc. in 2013, seeking to scale the business to provide engineering expertise across diversified industries on a truly global scale. Under the Funds’ ownership, and together with management, the company invested in sales and marketing capabilities to both seek out and develop areas of expertise. Through both organic growth and M&A, the company expanded into numerous new geographies across the world, including establishing engineering centres across Europe and Asia. In addition, Apax’s Operational Excellence Practice (“OEP”) supported the business in several ways, including redefining their internal IT strategy and leading a finance improvement initiative. The result of these initiatives saw an acceleration in growth as both revenue and EBITDA more than doubled as GlobalLogic solidified its position as a leading global product engineering company.

The Apax Funds sold their stake in GlobalLogic across two tranches: half was sold in January 2017; and the remaining stake was sold in August 2018 in a transaction which valued GlobalLogic at over $2bn.

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