Category Archives: News

Funds advised by Apax Partners to acquire remaining minority stake in Vyaire Medical from BD

Apax

Chicago and London, March 19, 2018 – Funds advised by Apax Partners (“the Apax Funds”) today announced they have entered into a definitive agreement to purchase from BD (Becton, Dickinson and Company) its remaining ownership interest in Vyaire Medical, Inc., a global leader in respiratory care.

Upon completion of the transaction, which is expected to occur by the end of April (subject to customary closing conditions), Vyaire Medical will be 100% controlled by the Apax Funds.

The Apax Funds acquired a majority stake in Vyaire Medical, previously BD’s Respiratory Solutions business, in October 2016. BD initially retained a minority stake in the newly independent company through a joint venture with the Apax Funds. Today, Vyaire Medical is the leading pure play medical device company in the respiratory space. With approximately $800 million in annual sales, Vyaire Medical is active in manufacturing and distributing both respiratory and anesthesia/surgical consumables as well as capital equipment for respiratory diagnostics and ventilation. Vyaire thereby supports the care of chronic and acute respiratory patients as well as the airway management of surgical patients across the healthcare continuum.

Steven Dyson, Partner at Apax Partners, said, “Since the Apax Funds acquired a majority stake in Vyaire Medical in October 2016, strong progress has been made by the business. A new senior management team led by CEO Dave Mowry has established key functions, delivered operational improvements, upgraded commercial capabilities and made two accretive acquisitions. It was on the basis of this progress, and the promise that we continue to see for the business, that we sought to acquire BD’s minority stake. We would like to thank the BD team for being excellent partners and supporting the company through its history.”

Dave Mowry, Vyaire’s President and Chief Executive Officer, said, “We are pleased with the progress our team has achieved over the past 18 months in establishing Vyaire Medical as a focused and leading global respiratory solutions provider with the objective of improving patient outcomes and increasing value for our customers. Our success in standing up Vyaire Medical as an independent company also has been made possible by the support of BD and the contributions from Apax Partners, which has provided our team with a range of capabilities, including the expertise from its Operational Excellence team of dedicated functional specialists.”

Funds advised by Apax Partners to acquire remaining minority stake in Vyaire Medical from BD

About Vyaire Medical
Vyaire Medical supports and improves the lives of patients with a laser-focus on improving patient outcomes and increasing value for customers. The Chicago, IL.-headquartered company was formed in October 2016 to serve healthcare customers with innovative device and service solutions across the respiratory and anesthesia continua of care. Vyaire’s legacy brands have a 65-year track record of pioneering, innovating, and advancing respiratory diagnostics, ventilation, and anesthesia delivery & patient monitoring. From industry-pioneering brands that include Bird, Bear, and Jaeger to respected industry leaders AirLife®, Vital Signs®, Viasys, and many others – Vyaire Medical has nearly 27,000 distinct part numbers recognized, trusted and preferred by specialists in the respiratory therapy and anesthesiology healthcare markets worldwide. Learn more at www.vyaire.com.

About Apax Partners
Apax Partners is a leading global private equity advisory firm. Over its more than 35-year history, Apax Partners has raised and advised funds with aggregate commitments of over $50 billion. Apax Partners’ Main Buyout Funds invest in companies across four global sectors of Healthcare, Tech & Telco, Services and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners has a strong track record in corporate carve-outs, supported by its Operational Excellence Practice, a team of dedicated operating specialists who support deal teams and drive value creation in the portfolio.

For more information see www.apax.com.

Media Contacts  

For Apax Partners:

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

USA Media: Todd Fogarty, Kekst | +1 212-521 4854 | todd.fogarty@kekst.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

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IM SQUARE secures significant financing support from EURAZEO and launches its US Distribition Platform

Eurazeo

iM Square announces its renewed objective to invest with current and future shareholders over $500 million within 2 to 4 years

iM Square announces the launch iM Global Partner US, its new American distribution platform

PARIS/LONDON(16th of March 2018)

iM Square, the sole European investment and development platform dedicated to asset management, successfully secured a new financing commitment from Eurazeo, one of its founding shareholder, after having completed its initial ambitious growth phase. Eurazeo is committed to support iM Square’s investments over the next few years and is expected to become its reference shareholder.

Other founding shareholder Le Groupe Dassault / La Maison will also participate. This new commitment will enable iM Square to acquire additional 3 to 6 entrepreneurial active asset managers with $1 to 20 billion of AUM, high growth potential and complementary strategies, such as alternative management. Most of the targeted asset managers are based in the US and Europe. In additional to permanent capital, iM Square also brings financial and operational support as well as taylor-maid investment and distribution capabilities to its partners, which makes iM Square’s model unique in Europe.

Since 2015, iM Square has successfully acquired minority stakes in two US asset management companies: Polen Capital, an independent management firm specialised in growth stocks and Dolan McEniry Capital, specialised in US corporate bonds. The performances of these two asset managers are remarkable and their AUM continue to undergo strong growth: Polen Capital’s AUM grew from 7.5 to $17.4 billion since the partnership with iM Square in 2016, while Dolan McEniry’s grew from 5.8 to almost $6.5 billion since iM Square’s stake was acquired.

In addition, iM Square keeps on seeking for new shareholders which have distribution and investment capabilities, in the US and Europe. Supported by a strong pool of long term investors, iM Square’s objective is to invest with current and future shareholders over $500 million within 2 to 4 years.

Philippe Couvrecelle, Founder and CEO of iM Square, declares: “This additional commitment from our shareholders is a mark of trust and confidence which will allow us to accelerate the rollout of our project, not only by acquiring stakes in new partner companies to complete our product offering, but also by strengthening our distribution capability. Indeed, it comes at a time when we are launching our US distribution platform and developing our distribution resources in Europe and within other markets. It will enables to bring our current and future partners not only A source of permanent capital, but also a unique distribution task force to partner and service their growth.

”Marc Frappier, Managing Partner of Eurazeo Capital, comments: “We are convinced that financial services, and asset management in particular, are a promising investment sector for Eurazeo that benefits from solid fundamentals. The launch of IM Square is a wonderful initiative that combines growth and entrepreneurial spirit, in a particularly deep market, offering its shareholders the opportunity to deploy several hundred million euros. We are delighted to support its founders by providing them with the long-term horizon and financial strength adapted to their market.”

Launch of a US distribution platform, a unique differentiating advantage to entrepreneurial asset manager. iM Square also announces the launch of its US distribution platform , based on the model of its European one. The company will support and develop the operational distribution capability of its current and future partners in Europe and the US, which are both core markets. In order to ensure the ambitious development of iM Global Partner US, iM Square announces the appointment of Jeffrey Seeley as Head of iM Global Partner US.

As former Head of Distribution at AMG Funds, he has a perfect knowledge of US distribution platforms, strategic partnerships as well as collaboratively working with our investment management partners to continue their asset growth successes.

Through its two platforms, iM Square will bring its support and expertise in European and US distribution to its partners’ funds. iM Square aims to help its partners reach significant international clients (private banks, Institutional investors, banking and insurance groups, funds selectors and distribution platforms) and notably their capacity to develop UCIT funds within European markets.

The two iM Global Partners platforms’ teams will bring together strong expertise based out in Europe and the US. The objective is to grow the team to 20 people to ensure the best partnership possible with the investment companies bringing not only a global distribution platform for their products but also a tailored access to unexplored client capabilities and segments of distribution.

Philippe Couvrecelle, President of iM Square, concludes: «We have strong ambitions for the development of our two distribution platforms in order to provide our current and future partners with the capability to support their growth and to bring them an international distribution capacity, allowing the m to fully focus on the management and performances of their funds».

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Advisors (iM Square)

Financial: Hottinguer Corporate Finance (Philippe Bonhomme, Djilali Bou-Abdallah, Romain Guillemin)

Legal: Cazals Manzo Pichot (Romain Pichot) ; SVZ Avocats (Géraud de Franclieu, Céline Raynal) ; CMS

Bureau Francis Lefebvre (Jérôme Sutour)

Advisors (Eurazeo)

Legal: Goodwin Procter (Maxence Bloch, Samuel Berrebbi, Arnaud David)

About iM Square Group

iM Global Partner

The Group iM Square aims to build a global development and investment platform dedicated to asset management sector, targeting talented, independent, already mature

and local market recognised investment companies (mostly in the US, but also in Europe and Asia). iM Global Partner aims to accelerates its funds range growth. Its funds can be managed by iMGP or being delegated to iM Square’s asset management companies, in order to help them grow globally. Amundi, Eurazeo, Dassault and La Maison are iM Square’s founding shareholders which have enabled its launch in June 2015. iM Square is currently seeking for one or several new significant international shareholders and also may finances its long-term growth through a possible IPO.

About Eurazeo

With a diversified portfolio of approximately €15 billion in assets under management, Eurazeo is a leading global investment company with offices in Paris and Luxembourg, New York, Shanghai and Sao Paolo. Its purpose and mission is to identify, accelerate and enhance the transformation potential of the companies in which it invests. The Company covers most private equity segments through its five business divisions–Eurazeo Capital, Eurazeo Croissance, Eurazeo PME, Eurazeo Patrimoine and Eurazeo Brands. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. As a global long-term shareholder, the firm offers deep sector expertise and a gateway to global markets, and enables the transformational growth of its companies.

Eurazeo is listed on Euronext Paris.

ISIN: FR0000121121

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Bloomberg : RF FP

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Reuters : EURA.PA

 

Press contacts iM Square

Steele & Holt agency Daphné Claude – daphne@steeleandholt.com/ +33 6 66 58 81 92

Charlotte Forty de Lamarre – charlotte@steeleandholt.com /+33 7 72 32 6 74

Gaétan Pierret – gaetan@steeleandholt.com / +33 6 30 75 44 07

Press contacts Eurazeo

Sandra Cadiou – scadiou@eurazeo.com / +33 1 44 15 80 26

 

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Graphite Capital supports Beck & Pollitzer’s acquisition of Clarkson Industrial Inc

Graphite

Graphite Capital supports Beck & Pollitzer’s acquisition of Clarkson Industrial Inc. Graphite Capital’s portfolio company Beck & Pollitzer has acquired Clarkson Industrial Inc, a major provider of installation services based in South Carolina. The combination of Beck & Pollitzer’s existing US operation and Clarkson creates a strong platform for further growth in the group’s machinery installation and relocation services throughout the North American market.

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Fortino Capital invests in intelligent synchronization platform PieSync

Fortino Capital

Fortino Capital leads a 2.8 million euros ($3.5 million USD) round in the Ghent headquartered company PieSync through its venture fund. Fortino Capital led the round with participation from existing investors including Ark Angels Activator Fund, PMV and Dirk Vermunicht.The PieSync intelligent synchronization platform is an integrated software-as-a-service cloud application to manage contact information. It provides two-way real time synchronisation of contact data between the various cloud applications used.

Today, both multinationals and SMEs use a combination of various (often specialised) cloud applications. One of the biggest challenges for companies is to integrate these applications and manage their data as simply and affordably as possible. Most integration applications only “push”data one way, from one application to the other. PieSync ensures that businesses always have access to their most recent contact data, across every application.

Duco Sickinghe, Managing Partner at Fortino Capital: “PieSync fills the gap in the market for two-way real time synchronisation of contact data in a simple and affordable way. The platform now works successfully with more than 100 different applications, with new ones being added every week. We want our investment to support that continued growth.” The investment of 2.8 million euros is aimed at helping PieSync expand commercially, through increased growth in sales and marketing and by strengthening its management team.

PieSync currently synchronises more than 100 different SaaS applications including Google Contacts, Hubspot, Marketo, Salesforce, Teamleader and specialised applications such as accounting programs. The platform automatically detects possible conflicts in contact data and matches and duplicates data in a clever way. Hence, integrating PieSync in an application landscape eliminates the data gaps between sales, marketing and customer services, and allows more efficient and productive cross-department data management.

“We’re focused on becoming the best solution to help organizations of all sizes to intelligently connect cloud-based business apps without complexity,” said Ewout Meyns, Founder and CEO of PieSync. “The partnership with Fortino Capital is an important step forward in executing our vision to become the fastest growing two-way intelligent data synchronization platform for organizations that want to power their business by integrating their cloud apps. “

PieSync was founded in 2014 by entrepreneurs Ewout Meyns and Mattias Putman in Ghent. Since then, it has grown into a world-renowned player in SaaS. Fifty percent of its customers are American companies.

 

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FSN CAPITAL V acquires a majority stake in MØRENOT

Fsn Capital

FSN Capital V (“FSN Capital”) has signed an agreement to acquire a majority stake in Mørenot (“Mørenot”, the “Company”), a world leading supplier of equipment and services to the world’s fishery- and aquaculture industries.

Current owners are 3rd and 4th generation descendants of the founders, and will re-invest alongside FSN Capital and continue to own a material stake in the Company.

The Company has shown strong performance in recent years and established a global platform for continued expansion.  Mørenot holds a reputation for leading quality and servicing capabilities based on innovation and local presence. The company is driving innovation within the industry, with several recent and ongoing successful projects. Global population growth and increased living standards are driving the demand for protein, and fish is a more efficient source of protein compared to e.g. chicken, pork and beef, with additional health benefits from high content of fatty acids such as Omega 3. As a global leader in this industry, Mørenot contributes to feeding the world in a healthy and sustainable manner.

With roots back to 1913, Mørenot is a Norway based, global leader in the fast-growing market for equipment and services to the fishery and aquaculture industries. The company has a strong Norwegian heritage founded on quality products, excellent service and close relationships with its customers. In 2017, Mørenot reported sales of approximately NOK 870m and the Company has generated an organic sales CAGR of 8% between 2009 and 2017. In partnership with FSN Capital, the founder families will take part in the future journey and aspire to reinforce Mørenot’s strong market position and further consolidate the market both in Norway and internationally.

“FSN Capital is excited about the opportunity to play a leading part in providing the world’s growing population with a healthy source of protein in an environmentally sustainable manner. We are eager to partner with the founding family in realizing the Company’s next growth journey”, says Ulrik Smith, Partner at FSN Capital Partners AS, acting as investment adviser to FSN Capital.

“The family and the board are very proud of what the management team has achieved with the Company. The family is excited to have entered into a partnership with FSN, which will support the Company in its next phase of growth. We are optimistic about the future and look forward to the partnership.” says Sveinung Flem, Chairman of the Board of Mørenot.

The transaction is subject to approval from the competition authorities.

FSN Capital was advised by Advokatfirmaet Haavind, PwC, Bain & Company, Rambøll, White & Case, JLT, and Implement Consulting Group.

For more information please contact:

Ulrik Smith, Partner
us@fsncapital.com /+47 974 15 569

Morten Welo, COO & Investor Relations
mw@fsncapital.com / +47 924 48 555

 

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Altamir to invest via the Apax France IX fund in Business Integration Partners (Bip), a leading European consulting company

Altamir

Paris, 15 March 2018 – As announced in our press release dated 8 March, a new transaction has been signed by Apax Partners SAS: the acquisition of Business Integration Partners (Bip), a leading European consulting firm headquartered in Italy, from its management team and Argos Soditic.

Founded in 2003, Bip delivers management consulting, business integration and IT/digital transformation services supporting international companies in their innovation strategies and in the adoption of disruptive technologies. The company is present in more than 11 countries with over 1,800 professionals.

The objective is to establish Bip as an undisputed global player in the market by pursuing both organic and external growth, and by accelerating its international development and industry diversification.

The transaction is expected to be completed in the first quarter of 2018.

 

About Altamir

 

Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995 and with almost €800m in assets under management. Its objective is to provide shareholders with long term capital appreciation and regular dividends by investing in a diversified portfolio of private equity investments.

Altamir’s investment policy is to invest via and with the funds managed by Apax Partners SAS and Apax Partners LLP, two leading private equity firms that take majority or lead positions in buyouts and growth capital transactions and seek ambitious value creation objectives.

In this way, Altamir provides access to a diversified portfolio of fast-growing companies across Apax’s sectors of specialisation (TMT, Consumer, Healthcare, Services) and in complementary market segments (mid-sized companies in French-speaking European countries and larger companies across Europe, North America and key emerging markets).

Altamir derives certain tax benefits from its status as an SCR (“Société de Capital Risque”). As such, Altamir is exempt from corporate tax and the company’s investors may benefit from tax exemptions, subject to specific holding-period and dividend-reinvestment conditions.

 

For more information: www.altamir.fr

 

Contact

Agathe Heinrich

Tel: +33 1 53 65 01 74

E-mail: investors@altamir.fr

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Toray to acquire TenCate Advanced Composites

Gilde Buy Out

Acquisition to accelerate growth in advanced composites for both companies Almelo, The Netherlands – Koninklijke Ten Cate B.V. (“TenCate”) today announces it has reached an agreement with integrated chemicals and materials group Toray Industries Inc. (“Toray”) on the acquisition of TenCate Advanced Composites (“TCAC”). Toray is committed to further accelerate the growth of TCAC in the coming years, fully supporting TCAC management’s strategy and investment growth plans.

The combination of TCAC and Toray brings together complementary product offerings in high performance composites serving the aerospace, space and communications and high-performance industrial markets. There is strong strategic rationale for the transaction, with clear benefits for both companies. For Toray, the acquisition is an important step in its strategy to accelerate growth and expand its high-performance thermoplastic and thermoset composites offering while benefitting from considerable revenue synergies. For TCAC, the combination with Toray secures access to a source of highly-specified carbon fiber, a crucial component to supporting the needs of customers. The combination of TCAC and Toray will enhance new product development and R&D capabilities and reinforce and expand relationships with customers.

Frank Meurs, TCAC Chief Operations Officer, commented: “We are very pleased with today’s announcement and consider Toray a strong partner for us in terms of cultural fit, complementary product and market segment offerings, focus on R&D, and geographical reach. We have a long history of successful cooperation with Toray and are convinced that we can strengthen each other. We are looking forward to continuing to grow TCAC together with Toray.”

Jan Albers, TenCate CEO, commented: “We are delighted that we have found such a strong strategic partner for TCAC in Toray. The aerospace industry is entering a new growth phase, which requires large investments for continued sustainable growth in this dynamic market. With Toray we have found the right partner to expand TCAC’s leading role in advanced composites.” Both companies have agreed to jointly develop an integration plan to support the envisaged growth plans. Toray expects to retain key management of TCAC following completion of the transaction and respects the existing rights and benefits of the employees of the TCAC group. Toray will acquire TCAC for an enterprise value of € 930 million. The completion of the envisaged transaction is expected in the second half of 2018 and is subject to customary approvals by regulatory authorities. The agreement is also subject to completion of the consultation process with TenCate’s works council. J.P. Morgan Securities plc acted as exclusive financial advisor and Clifford Chance LLP acted as legal advisor to TenCate. Nomura Securities Co., Ltd. acted as financial advisor to Toray.

 

Read more at: http://gilde.com/news/2018/toray-to-acquire-tencate-advanced-composites

 

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BDC sells Trustly to Nordic Capital

Bridgepoint

STOCKHOLM, 14 March 2018 – The European online payments provider Trustly announced today that it will be acquired by Nordic Capital Fund IX (“Nordic Capital”). Nordic Capital will support Trustly in its ambition to become the leading global online banking payments provider.

Trustly’s largest shareholder Bridgepoint Development Capital will dispose of its full equity interest in Trustly but management, founders and investment company Alfvén & Didrikson will remain significant shareholders in the company.

Nordic Capital is one of Europe’s largest private equity investors and has a pre-eminent payments practice. Its track record in the sector includes the transformation of payment platform Bambora into a global payment market leader and the successful investment in Point, a payment terminal and software company.

Oscar Berglund, CEO of Trustly said: “The shift towards online banking based payment solutions is only in its infancy and we are looking forward to continuing to innovate and execute so as to make it easier, safer and quicker for both consumers and merchants to make payments online. We are delighted to partner with Nordic Capital whose support will be of great value as we grow across merchant verticals, products and geographies. I also want to thank Bridgepoint Development Capital for their exceptional contribution over the last three years.”

Fredrik Näslund, Partner, Advisor to the Nordic Capital funds said: “Direct bank payments are the future of payments and Trustly is leading this transition. This investment is at the core of Nordic Capital’s payment investment strategy, and after having followed the company for many years, we have built a strong conviction in the business and we are impressed by what the founders and management have built over the last 10 years. Nordic Capital views Trustly as a highly strategic payment platform with unique capabilities. We intend to support the management team and founders in the journey to becoming the global account-to-account infrastructure player by providing capital and experience from our previous successful investments in payments.”

Johan Dahlfors, Partner at Bridgepoint Development Capital said: “It has been an honour to work with such a talented and motivated team to develop the leading European online banking e-payments player. The progress achieved by the team during our ownership has been outstanding, where Trustly has expanded its footprint across Europe, invested in the business infrastructure and team as well as in its proprietary technology platform. We are convinced that Trustly is very well placed to continue its strong growth trajectory in a structurally growing market with long-term tailwinds for real-time, account-to-account payments.”

Citi acted as exclusive financial adviser to the shareholders of Trustly. Trustly’s relationship with Citi also encompasses transaction banking where Citi is one of Trustly’s core banking partners.

Tony McLaughlin, Managing Director, Global Payments at Citi said: “Trustly are in the vanguard of changing the world of payments. We are excited to be their banking partner and support their international expansion.”

The transaction is subject to customary regulatory approvals and approval by the Swedish Financial Supervisory Authority. The parties have agreed to not disclose any financial details.

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Nordic Capital acquires Trustly, the leading next-generation direct payment provider

Nordic Capital

Nordic Capital Fund IX (“Nordic Capital”) today announced the acquisition of Trustly AB (“Trustly”). Trustly is the leading next-generation direct payment provider, enabling fast, simple and secure account-to-account payments, present in 29 European countries with connections to more than 3,000 banks. Nordic Capital will support management in its plan to establish Trustly as the leading global online banking payments provider.

Founded in 2008, Trustly is an online payment provider that enables direct account-to-account payments, in partnership with merchants across Europe. Trustly has ~200 employees and is headquartered in Stockholm, with regional offices in Spain, Malta, Germany and the UK. The Company processes more than 3.5 million payments with payment volumes of ~SEK 6 billion each month.

Nordic Capital sees significant potential in supporting management to accelerate Trustly’s growth agenda in current and new geographies, as well as expand the product portfolio. Nordic Capital will also support Trustly by investing in its large bank network and technology platform, in order to drive payment innovation and leverage their first mover advantage to become a leading global account-to-account payment champion. Together with Nordic Capital, Alfvén & Didrikson, the Company founders, and management will remain as significant shareholders.

“The shift towards online banking based payment solutions is only in its infancy. We are looking forward to continuing to innovate and execute so as to make it easier, safer and quicker for both consumers and merchants to make payments online. We are delighted to partner with Nordic Capital whose expert support will be of great value as we grow across merchant verticals, products and geographies,” says Oscar Berglund, CEO of Trustly.

“Direct bank payments are the future of payments, and Trustly is leading this transition. This investment is at the core of Nordic Capital’s payment investment strategy, a sector where we have significant experience and excellent results. Having followed the Company for many years, we have developed strong conviction in the business and are impressed by what the founders and management have built over the last 10 years. Nordic Capital views Trustly as a highly strategic payment platform with unique capabilities. We intend to support the management team and founders in the journey to become the leading global online banking payment champion, by providing capital and experience from previous successful investments in payments.” says Fredrik Näslund, Partner, Advisor to the Nordic Capital Funds.

The Nordic Capital Funds have a long history and proven track record of investing into the payments industry. In 2017, Nordic Capital Fund VIII sold Swedish payment platform Bambora after three years of ownership, having in that time completed 12 material add-ons and transformed the company into a global payment market leader. The investment in Point, a Swedish payment terminal and software company, by Nordic Capital Fund V, is another success story in the sector.

The transaction is subject to customary regulatory approvals and approval by the Swedish Financial Supervisory Authority. The parties have agreed to not disclose any financial details.

 

Media contacts:

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

About Trustly

Founded in 2008, Trustly is an online payment provider that enables fast, simple and secure account-to-account payments. The company offers cross-border payments to and from consumer bank accounts at over 3,000 banks in 29 European markets and connects businesses and consumers within e-commerce, travel, gaming and financial services. In 2017, the Financial Times ranked Trustly as one of the fastest growing companies in Europe on the FT1000 list and the London Stock Exchange recognized Trustly as one of Europe’s most inspiring, fast-growing companies. Trustly has ~200 employees and is headquartered in Stockholm, Sweden, with regional offices in Spain, Malta, Germany and the UK. Trustly is a licensed Payment Institution under the supervision of the Swedish Financial Supervisory Authority. Read more at www.trustly.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 12 billion in close to 100 investments. The Nordic Capital Funds 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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Waterlogic to acquire Billi, a leading manufacturer and distributor of Under-The-Sink systems and taps

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Castik Capital

Waterlogic, the leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, has signed definitive agreements to acquire 100% of Billi’s business in Australia, the UK and international markets.

The deal, which was announced on 13 March 2018, brings together two progressive organisations that share a strong commitment to the provision of high-quality, innovative drinking water products, services and solutions to workplaces, schools, hospitals, food and beverage establishments, and consumers globally.

Headquartered in the UK, Waterlogic has subsidiaries in many international markets and an extensive and expanding independent global distribution network in place, reaching over 50 countries around the world.

Billi is a leading designer, manufacturer and distributor of boiling, chilled and sparkling filtered drinking water Under-The-Sink (UTS) units, preferred by designers and architects for their timeless styling and space-saving design. The company is headquartered in Melbourne, Australia with 140 employees across Australia and the UK.

This complementary pairing brings together Billi’s award-winning UTS products with Waterlogic’s global distribution network, customer base, and purification technologies to accelerate growth in new and existing markets.

Waterlogic Group CEO, Jeremy Ben-David said, “The acquisition of Billi aligns two best-in-class brands with high-end technology, reputation for quality and customer service, and complementary product portfolios. This combination will position Waterlogic as the total water solutions provider and significantly advance our global growth. The transaction is a testament to the accomplishments of Billi, and we warmly welcome their 140 employees to Waterlogic; we look forward to working with Dan Lindsay and the Billi team to enhance our combined portfolio of innovative products and open new channels of distribution globally.”

Waterlogic CEO Australasia, Carl Crowley said, “We have already enjoyed a 15-year partnership with Billi, with units currently in use throughout Australia and the UK. By combining our complementary strengths and capabilities, we will be even more effective in meeting the needs of businesses and consumers globally who rely on access to high-quality drinking water.”

Billi Managing Director, Dan Lindsay said, “Waterlogic is the natural partner to accelerate growth from Billi’s already strong Australian base. The combination of Waterlogic’s well-established global

distribution network and Billi’s specialist product range, means that more businesses and homes around the world will enjoy great tasting, filtered drinking water. We are in a stronger position to achieve our growth potential, and we’re excited about the opportunities that lay ahead of us.”

The deal is expected to complete at the end of March 2018.

Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. The acquisition of Billi is the 16th manifestation of the company’s buy and build strategy since the acquisition by Castik, following substantial acquisitions in the US, UK, Australia, Spain, France, Germany, and Scandinavia.

– ENDS –

Media Contact
Rosanna Turner, Group Marketing Communications Manager
marketing@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 50 countries around the world. Waterlogic products are currently being 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 multi-strategy 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.

About Billi
Billi is a manufacturer and distributor of innovative drinking water systems. In 1989 Billi conceived and manufactured a ground-breaking underbench boiling and chilled filtered drinking water system. Today, Billi continues to lead the industry in innovation with boiling, chilled and sparkling underbench systems that save space, energy and time at home and the workplace. Billi systems are manufactured in Melbourne, Australia and distributed globally across countries including New Zealand, Hong Kong, Singapore, UAE and the UK. For more information, visit Billi’s website at https://www.billi.com.au

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