Category Archives: News

Gimv divests natural climate control and fire safety specialist Brakel to Kingspan

GIMV

Brakel, a leading European climate control and fire safety specialist for commercial and industrial buildings, has been acquired by Kingspan, a global leader in innovative high performance insulation and building envelope solutions.

For 40 years, Brakel (www.brakel.com) has been a market leader in the Benelux region and the UK in the field of high-end quality solutions for glass daylight constructions (glass roofs and skylights), ventilation systems (top hung windows and flap ventilators) and fire safety systems (fire detection, smoke and heat extraction installations) in commercial and industrial buildings. These solutions are in response to the increasing demand for a comfortable, sustainable and safe indoor climate, using natural light and outside air. They are also made from high-quality recyclable materials, such as glass and aluminium. Brakel takes care of the production, distribution in the EU and the installation as well as the maintenance of these systems in the Benelux and UK. Gimv bought a majority stake in the company in 2015, and provided additional capital for the add-on acquisition of ArginaTechnics in 2016.

“Together with Gimv, Brakel has established a stable platform with sustainable products and an increased market position. Our ambition to penetrate in the EU end market and to expand our global distribution network is being strengthened and supported by Kingspan. We find in Kingspan an outstanding shareholder to accelerate the realisation of Brakel’s ambition with a shared vision to create energy-efficient and sustainable building envelopes providing maximum comfort and safety for end users. As part of Kingspan’s Light & Air division, we find an excellent foundation for continued growth and development of the business and its employees,“ says Ton van Gerwen, CEO of Brakel.

Rombout Poos, Principal within Gimv‘s Sustainable Cities platform comments: “Gimv is proud of having supported Brakel in its further expansion during the past years. Management did an excellent job to achieve this!”

Over the entire holding period, the investment in Brakel generated a return above Gimv’s long-term average return. No further details about this transaction will be disclosed.

 

 

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Nordic Capital increases its shareholding in Nordax

Nordic Capital increases its shareholding in Nordax ImageNordic Capital Fund VIII (“Nordic Capital”)1 has entered into a call option agreement with the investment company R12 Kapital (“R12”) which entitles Nordic Capital to acquire an additional 2.94% of the shares in Nordax Group AB (publ) (“Nordax”), subject to receiving approval by the Swedish Financial Supervisory Authority (“SFSA”). Nordic Capital is currently the largest shareholder in Nordax with a shareholding of 9.96%. The call option agreement entered into with R12, together with the already existing call option arrangement in place with Carnegie, entitle Nordic Capital to acquire a further total of 12.44% of the shares in Nordax.

Nordax is a leading niche bank in Northern Europe with approximately 120,000 loan customers and 28,000 savings customers. Nordax is focused on large, long duration personal loans and deposit accounts. Nordic Capital is one of the longest established and most active private equity investors in the Nordic region, with a strong track record from investments in the financial services sector, including Resurs Bank, Lindorff and Nordnet. Nordic Capital holds majority or minority positions in private or public companies, and acts as an active owner, contributing to the long term development of such companies through representation on the Board of Directors.

Nordic Capital

Nordic Capital has entered into a call option arrangement with R12 through which Nordic Capital has the right to acquire all Nordax shares currently held by R12. It is the intention of Nordic Capital to exercise this call option upon receipt of necessary approvals from the SFSA. Until SFSA approval has been obtained, and prior to any exercise of the call option, there will be no voting cooperation, veto rights or other agreements or understandings between Nordic Capital and R12 as regards exercise of influence over Nordax. A filing for SFSA approval that will give Nordic Capital the right to exercise such option was made when Nordic Capital acquired its initial shareholding in Nordax in October 2017.

 

[1] Nordic Capital refers to Nordic Capital Fund VIII and any, or all, of its predecessor funds depending on the context.

 

Press contact:

Elin Ljung, Director of Communication and Sustainability
NC Advisory AB, advisor to the Nordic Capital Funds
Tel: +46 8 440 50 10
e-mail: elin.ljung@nordiccapital.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 11 billion through eight funds. 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 see www.nordiccapital.com

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Actis energy platform Zuma Energía reaches financial close on two further solar farms in Mexico

Actis

Actis today announced that its renewable energy platform Zuma Energía, has secured close to US$300 million project financing for the construction of two solar farms in Mexico, with a total capacity of 337 MW.

The solar parks Orejana and Santa María, which will be built in Sonora and Chihuahua, respectively, were awarded in the Second Long-term Electricity Auction. Once operational the farms will supply over 500,000 homes with clean energy and mitigate over 280,000 thousand tons of CO2 emission per year, from over 1 million solar panels.

The Orejana solar park, in Hermosillo, Sonora, will have a capacity of 158 MW and the Santa María solar park in Galeana, Chihuahua will have a capacity of 179 MW. Zuma Energia is exploring opportunities with local SMEs and value chains for the construction, operational and maintenance stages of the projects, in order to generate employment and long-term economic benefits.

These latest closes follow the financial closure of Reynosa Wind Farm in August, one of the largest wind farms in Latin America with a total capacity of 424 MW.  Reynosa Wind Farm was the first project to achieve financial close on project financing of all projects awarded Power Purchase Awards in the long term electricity auctions held in 2016.

In addition to the Orejana, Santa Maria and Reynosa Wind Farm, Zuma Energía has a 50MW wind farm in operation in Oaxaca. This portfolio has positioned Zuma as a leading Mexican provider of clean energy certificates in the country -2.3 million a year.

Actis created Zuma in 2014, in three years the company has secured an 800MW portfolio. Actis holds an 80% and Mesomerica Investments holds 20% stake in Zuma Energia.

Actis is one of the most significant private investors in renewable energy projects across Latin America. The firm has committed over US$4.8 billion in 32 energy companies across 25+ countries generating 17GW of energy capacity and directly impacted 68 million consumers.

Adrian Katzew, CEO of Zuma Energía, commented: “At Zuma Energía we are very grateful for the trust deposited upon us by our shareholder and lenders, and the dedication from all the banks and advisors to establish the principles of these new financial structures.  Also, my gratitude to the extraordinary work performed by Zuma´s team.”

Michael Harrington, Board Member of Zuma and Partner and Head of Mexico at Actis commented: “We are seeing the energy reforms play out and attract new players and international funding. Mexico has compelling fundamentals for investing in power generation, including superior natural resources, an evolving and supportive regulatory framework and a deep project finance capacity.”

Project financing was secured through Bancomext, Banobras, Nafin and the North American Development Bank (Nadbank).

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Frontmatec to invest in China

Axcel

Frontmatec has entered into an agreement to acquire Jining Xinglong Food Machinery Manufacturing Co., Ltd. (“Xinglong”), a leading supplier of equipment to the red meat industry in China. The transaction will provide Frontmatec with market access in China and in addition a local production setup dedicated for the Chinese market. Furthermore, Xinglong will benefit from transfer of advanced technology from Frontmatec.

“We have been in close dialogue with Xinglong for nearly one year, and we are very impressed with the development of the company and the current management team. Xinglong has strong capabilities within the industry and close relationships with the largest customers in China. The acquisition enables Frontmatec to strengthen our market position and to be able to tap into the large growth potential in China.”

– Henrik Andersen, CEO

Founded in 2001, Xinglong is a reputable Chinese slaughtering equipment enterprise, offering cost-effective equipment and technologies adapted to livestock and poultry slaughtering in China and other developing countries.

“I am very pleased about the partnership agreement with Frontmatec. I am confident that the envisioned combination of the technologies and know-how of the two companies will lead to a prosperous future”

– Mr. Wang, Founder of Xinglong

China is the world’s single largest market accounting for approx. 50% of all pigs slaughtered globally. The market is expected to experience strong growth going forward driven by i) an increased demand for more automated and high speed solutions and ii) an increased focus on food safety.

“This is another big step forward for Frontmatec, and we are happy to welcome Xinglong into the Frontmatec family. I am convinced that both companies can benefit from each other and that the combination will result in a much stronger value proposition towards our customers, which will fuel future growth”

– Arne Vraalsen, Chairman of the board

Going forward, Xinglong will continue to serve the Chinese market from its current base in Jining under its current brand name. However, in order to accelerate the sales of more advanced solutions in China, Frontmatec will support Xinglong with relevant technology and competences.

 

The completion of the transaction is subject to final closing, which is expected to happen within the coming months.

 

 

About Xinglong

Xinglong is a leading supplier of equipment to the red meat industry in China. The main focus of the company is slaughtering solutions to pig and cattle in the mid/high line speed segment. Xinglong is mainly supplying Chinese customers, but also has customers outside China. The company is located in Jining (Shandong province) and currently employs 234 employees.

 

About Frontmatec

Frontmatec develops world-leading customized solutions for automation in the food industry, other hygiene sensitive industries and the utilities industry. We are especially renowned for our high-quality systems for the entire value chain in the meat industry – from hygiene systems to control systems, from carcass grading to slaughter lines, from cutting and deboning lines to logistics and packaging. Frontmatec employs more than 1000 employees in 10 countries with a turnover of +200M EUR.

 

For additional information please contact CEO Henrik Andersen (+45 29 60 69 55) or COO Kristian Madsen (+45 60 20 01 22).

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Actief Personalmanagement acquires AB Zeitpersonal

Gilde Equity

Oberhausen, 23 November 2017 – Actief Group, one of the fastest growing independent staffing companies in Western Europe, today announces the acquisition of AB Zeitpersonal, an Oberhausen based regional temporary employment company with strong presence in the Western and Central part of Germany. For Actief Group this is the third acquisition in Germany, after ISU Group in 2015 and TimeCraft in 2017. The acquisition of AB Zeitpersonal enables Actief Group to strengthen its German footprint and to add a strong complementary company with a solid client base to its portfolio. After this transaction Actief Group will realize over EUR 600 million of sales spread across Belgium, Germany and the Netherlands.

Gilbert Sydow, founder of AB Zeitpersonal, is enthusiastic about the partnership with Actief: “After 30 years of successfully developing and expanding AB Zeitpersonal into a personnel service provider renowned for its quality and long-standing partnerships with reputable companies in various industries such as automotive, retail, chemicals, food and logistics, I’m glad to have found a partner who shares the same values as we do. Actief’s strategy to focus on SMEs, entrepreneurship and local-for-local approach is very similar to the way we have built our company over the years. I’m confident that AB Zeitpersonal will continue its successful growth path and I believe that the AB Zeitpersonal team, led by Mrs. Reckling, will do a great job in partnering with Actief to continue growth in the coming years”.

CEO Heiko Harms of Actief Personalmanagement on the transaction: “Since 2015, we are implementing an ambitious roll out program by opening new offices in order to realize our ambition of gaining national coverage in Germany. AB Zeitpersonal has a strong entrepreneurial culture and this fits very well with our organization. Moreover, from a geographical point of view the company is very complementary to Actief Personalmanagement: next to a higher density in our current regions we now expand our footprint to the North Rhine-Westphalia region as well. AB Zeitpersonal has an attractive client base and enjoys a strong reputation in the market. I look forward to further grow our German presence together with the AB Zeitpersonal team.”

Mark Maesen, CEO of Actief Group, complements: ”Over the past 25 years Actief Group has grown from a small local Belgian player to a successful international temporary staffing company. We now operate over 180 offices spread over three countries, fully focused at providing high quality temporary staffing services for small and medium sized enterprises. With two acquisitions in the Netherlands and now three in Germany (one in 2015 and two in 2017), we gained a strong position in the Dutch and German market. It is our aim to become a top 10 player in each of these countries and welcoming AB Zeitpersonal is a great step forward in this respect. We now realize close to EUR 200 million sales in Germany and I am confident that our German management can successfully expand the German presence over the coming years.”

About AB Zeitpersonal

AB Zeitpersonal is founded over 30 years ago and developed since then into a well-established, medium-sized temporary employment agency with 45 offices throughout the Central and Western part of Germany. Activities comprise general temporary staffing, personnel recruitment and on-site services. The company employs more than 2,100 temporary workers, both blue and white collars. Clients comprise renowned ‘German Mittelstand’ companies active in various sectors such as automotive, engineering, retail, chemicals, food and logistics. AB Zeitpersonal is headquartered in Oberhausen.

About Actief Personalmanagement

Actief Personalmanagement, formed by the acquisition of ISU Group (2015) and TimeCraft (2017), is an independent personnel service provider with strong regional presence in the Baden-Wuerttemberg, Thuringia,  Saxony, Hesse and Bavaria states. Over the years, Actief Personalmanagement grew both organically and through acquisitions to a group of 45 branches, active in a broad spectrum of sectors, ranging from highly qualified skilled workers for technical and industrial areas and commercial staff to qualified employees for production and logistics. Clients comprise renowned ‘German Mittelstand’ companies with whom longstanding relationships exist.

About Actief Group

Actief Group is one of the largest independent and fastest-growing staffing companies in Western Europe. Founded in 1988 in Lummen, over the past 25 years Actief established a leading position in Belgium, with a network of 67 offices realizing EUR 260 million of sales. Backed by its majority shareholder Gilde Equity Management Benelux, Actief Group tripled sales since 2011, with the first footsteps outside of Belgium with the acquisition of TiP (2014) and Tence (2015) in the Netherlands and ISU Group (2015) and TimeCraft (2017) in Germany. Actief delivers a professional link between supply and demand on the labor market and offers companies an optimal and flexible service in their search for personnel. The group now realizes over EUR 600 million in sales and operates through three brand names: Actief Interim in Belgium, Actief Werkt! in the Netherlands and Actief Personalmanagement in Germany.

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WallVision to acquire Wall&decó

Litorina

WallVision continues its international expansion through an acquisition of the Italian premium wallpaper company, Wall&decó. The previous owner will remain in the business and reinvest in WallVision Group.

WallVision is a leading wallpaper group in the Nordic region with a growing international presence. The Group consists, before the acquisition, of four strong interior design brands: Boråstapeter, Engblad & Co, Cole & Son and Mr Perswall.

With the acquisition of the Italian premium brand Wall&decò WallVision further expands its international presence and includes a strong interior brand in the group. The business, with revenues of SEK 80 million, have shown double digit growth rates with healthy profit margins since it was founded in 2005.

”I’am really excited to have Wall&decò in the WallVision Group. We look forward to expand the business further and take it to the next level together with Christian Benini and his team.” says Olle Svensk, CEO of WallVision.

The acquisition is expected to close in mid-January 2018. After the acquisition WallVision Group will have pro forma revenues of SEK 600 million and c. 210 employees.

For further information, please contact:
Olle Svensk, +46 768 56 60 93, CEO WalVision Group

WallVision, founded in 1905 is the Nordic region’s market-leading wallpaper group. The group designs, produces and sells high-quality wallpapers under four strong brands, Boråstapeter, Engblad & Co, Cole & Son and Mr Perswall. The group has a growing international presence, accounting for 25% of the group revenues. The group is headquartered in Borås, Sweden and has c. 190 employees.  For more information, please visit www.wallvision.se

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IK Investment Partners to support Studienkreis

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap I Fund together with Management has reached an agreement to acquire Studienkreis GmbH, (“Studienkreis” or “the Company”), a leading provider of tutoring services for primary and secondary school students in Germany from Aurelius.

Since its inception in 1974, Studienkreis has developed into one of the leading providers of tutoring services on the German market. The Company operates a dense network of over 1,000 learning centres, offering small group tutoring to c. 60,000 primary and secondary school students across Germany, covering all common subjects as well as special preparatory courses for pre graduation exams. The Company has further developed a true online offering, comprising the Studienkreis App supporting students with their homework and tutoring schedule. Renowned for its high quality tutoring services as well as proven learning concept – developed and refined over 40 years, Studienkreis benefits from high brand awareness and customer satisfaction in the German market and has continuously been certified by various testing institutes.

“Customer satisfaction is truly at the centre of our business strategy. Our qualified and certified tutors assess every student individually; personalised support plans, as well as the documented progress are discussed with parents on a regular basis. It is this proven learning concept Studienkreis has built its reputation on. We now embark on the next phase of our growth trajectory with the support from IK and I’m truly excited for the opportunity to even better service our students,” said Lorenz Haase, CEO of Studienkreis.

“Studienkreis has a distinctive successful concept and a proven track record. Together with the highly experienced management team, we are looking forward to supporting the Company’s future success as they continue to grow their network and their tutoring offering,” said Anders Petersson, Partner at IK Investment Partners and advisor to the IK Small Cap I Fund.

Completion of the transaction is subject to merger control approvals.

For further questions, please contact: 

IK Investment Partners

Anders Petersson
Partner
Phone: +49 40 369 8850

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

Studienkreis GmbH
Thomas Momotov
Press and public relations
Phone: +49 2 34 97 60 12
tmomotow@studienkreis.de

About Studienkreis GmbH
Studienkreis is one of the leading private education providers in Germany. The company offers qualified tutoring for students of all classes and types of school in all major subjects. Individual support follows a scientifically proven learning concept. It strengthens the students’ sense of responsibility towards their learning, improves their confidence in their abilities, and helps them to develop their potential. For more information, visit www.studienkreis.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 billion of capital and invested in over 110 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

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Gimv is set to become the new majority shareholder of the AgroBiothers group, alongside its founding family

GIMV

Gimv and the Jenoudet family today announced that they have signed an agreement under which Gimv will acquire an equity stake in AgroBiothers, a European group specialising in the production and distribution of animal hygiene and care products as well as pet accessories.

The AgroBiothers group, based in Cuisery (Saône-et-Loire, France), is a European leader in the production and distribution of pet care products. With a turnover approaching EUR 65 million, the Group employs 250 people and distributes its 4,000 references in over 20 countries.

AgroBiothers has quadrupled its turnover over a fifteen year period, thanks to a dynamic organic growth strategy that is based on efficient logistics, and integrated production tools for its main product ranges. In addition it undertook acquisitions in France and abroad. AgroBiothers is now recognised as a prime partner for online and traditional food and specialist retailers, supplying a comprehensive range of high-quality pet care products.

AgroBiothers is well positioned in a buoyant and resilient market. It has strong organic growth prospects, particularly in the hygiene and care sector as a result of European regulatory developments. The Group also aims to step up its external growth strategy in Europe, in what remains a fragmented market, with a view to strengthening its commercial presence or expanding its product range.

The family-owned AgroBiothers never had an external investor before. Gimv will become majority shareholder as a result of the OBO (owner buyout). CEO Julien Jenoudet – majority shareholder up till now – will reinvest significantly in this OBO, and will remain at the helm of the Group.

With a presence in four European countries, a specialisation in the consumer goods sector, and expertise in the field of international buy and build, Gimv will bring to along its knowledge of European markets and of the challenges specific to the multichannel BtoB distribution sector.

Julien Jenoudet, Chairman of AgroBiothers: “I am delighted that Gimv has chosen to invest in AgroBiothers. Together we will refine the company’s marketing and commercial approach and step up our expansion into the European market, to take advantage of the many growth opportunities. Gimv’s Connected Consumer team is clearly committed to AgroBiothers’ future growth, and was quick in understanding the possibilities for expansion and the challenges our industry faces. ”

Guillaume Bardy, Principal in Gimv’s Connected Consumer platform, concludes: “AgroBiothers’ major assets, namely its perfect understanding of BtoB distribution, its expertise of regulation for hygiene and care products, and its deep comprehension of both market and customer needs, make it well equipped to become an integrated European multichannel distributor of pet care products. We are extremely proud that Julien Jenoudet and his family have chosen Gimv as the first external investor in their company. ”

The transaction has been submitted to the competition authorities for prior approval.

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Ardian acquires business process outsourcing service provider CCC

Ardian

Ardian Expansion has reinvested in CCC, a high-growth provider of business process outsourcing (“BPO”), to support the company in its next development phase

Berlin/Vienna/Frankfurt, November 21, 2017 – Ardian, the independent private investment company, has signed an agreement to acquire Competence Call Center Group (CCC), one of the leading BPO service providers in Europe. The investment will be made via the Ardian Expansion Fund IV. The shares are being sold by the pan-European private equity firm Silverfleet Capital.

As part of the transaction, the management team headed by Christian Legat (CEO), Ulf Herbrechter (COO) and Thomas Nemec (CFO) will hold a significant stake in the company and will lead CCC during its next phase of growth. All parties have agreed on confidentiality of the financial details of the transaction, which is subject to antitrust approval.

Founded in Austria in 1998, CCC is today headquartered in Berlin. With more than 5,500 employees, the company offers high-quality BPO solutions in 28 languages and serves more than 80 customers in Europe. The group operates from 18 locations across eight countries, ten of which are based in the DACH region, four in Eastern Europe, three in Turkey, and one in France. The company has secured a leading market position in the DACH region. CCC’s range of services includes social media monitoring, up/cross selling, complaint management and technical support. The company offers a broad range of communication solutions across telephone, e-mail, chat and social media channels.

Ardian already invested in CCC via its AXA Expansion Fund II between 2009 and 2013, when it helped the fast-growing company implement its international expansion strategy. During this phase, the number of employees more than doubled. With Ardian’s renewed support, CCC plans to further strengthen its leading position in the German-speaking region.

As one of the last independent European providers, CCC also strives to play an active role in the ongoing market consolidation of BPO services in Europe. To achieve these objectives, it plans to expand its business with existing and new customers, broaden its service offer and enter new markets. Particularly in light of the trend towards increasing digitalization, this aspect harbors considerable potential for growth in providing customers with new services.

Christian Legat, CEO of CCC, said: “Ardian’s team led by Dirk Wittneben and Marc Abadir has a very good understanding of our business model and relevant market drivers. The cooperation we had from 2009 to 2013 was highly successful, and we are convinced that we can continue to build on this success. Thanks to our excellent position in the German-speaking market and a unique customer portfolio containing companies that are leaders in their respective segments, we are well-positioned to acquire new customers and to convince them of the attractiveness of our services. At the same time, we also want to achieve further growth through business with existing customers by continuously expanding our product range. In doing so, we draw on the newest technological solutions via all communication channels to generate real added value for our customers and to cover a broader value-added spectrum.”

Dirk Wittneben, Managing Director, Ardian Expansion, said: “We look forward to accompanying CCC’s outstanding management team led Christian Legat, Ulf Herbrechter and Thomas Nemec in its next phase of growth. With this transaction, we are also underscoring our competence in supporting companies in highly different development stages and of various sizes.” Marc Abadir, Managing Director, Ardian Expansion, added: “Based on our very positive experiences, we are pleased to assist the CCC team in the continuation of its success story once again. As a leading high-quality provider, we are convinced that CCC will continue to benefit from the fast-changing communication habits of consumers and the increasing importance of customer dialogue for brand development.”

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$66bn managed or advised in Europe, North America and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.

Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 470 employees working from twelve offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore). It manages funds on behalf of 640 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

www.ardian.com

ABOUT CCC

CCC provides customers with care and BPO solutions at the highest level in 18 locations in eight countries. The company draws on 19 years of experience in handling incoming calls, outgoing campaigns, written customer communication via e-mail, chat and social media, as well as back office activities. Since 1998, CCC has been renowned for providing high-quality, internationally certified and excellent BPO services in 28 languages for global top brands in the European market from several industries. During this time, it has realized international growth and demonstrated continuous and strong commitment for the BPO industry. In total, more than 5,500 employees provide customers with innovative and internationally excellent service on all communications levels.

 www.yourccc.com

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Divergent 3D Announces Series B and Related Funding

Horizons Ventures

LOS ANGELES and HONG KONG— November 21, 2017— Divergent 3D, a technology development and licensing company that is creating a sustainable manufacturing revolution in the car industry, announces a Series B financing scheduled for close on or before December 15, 2017. The Series B close is $65+million with an additional investor option of $40 million to further accelerate revenue growth, bringing the aggregate funding, with option, to $107 million. Hong Kong-based investment holding company, O Luxe Holdings Limited (“O Luxe”), led the investment group, which includes Horizons Ventures, Shanghai Alliance Investment Limited and Altran Technologies.

Launched in 2014 by Founder & CEO Kevin Czinger, Divergent’s patented, end-to-end software-hardware solution incorporates 3D metal printing into the design, engineering and manufacturing of advanced vehicle structures for the automotive and aerospace industries. Its proprietary Divergent Production System™ automates structural design and optimization for volume manufacturing of lightweight structures without upfront, capital-intensive factory and tooling investments.

“With the ability to quickly respond to market demands, the Divergent system allows automakers and technology companies to innovate at a much faster rate—scaling up volume production at only a fraction of the cost while also alleviating environmental damage,” explains Czinger. “As a leading investment holding company dedicated to advancing sustainable manufacturing and transportation, O Luxe aligns with Divergent’s mission and fully understands the importance of disruptive technologies to the automotive industry. We are thrilled to partner with a company that supports our growth and vision.”

Marking a major financial milestone, the Series B funding will accelerate the commercialization of Divergent’s technology and provide additional resources to proliferate the technology globally, especially in the rapidly expanding Chinese electric vehicle market. Through non-exclusive partnerships with automakers and technology companies, Divergent will continue its strong momentum in leading the adoption of an economically and environmentally transformative manufacturing solution—building safer, stronger and more profitable eco-friendly vehicles at mass volumes.

In January 2016, Divergent announced the first close of its Series A financing and received a total of $23 million Series A funding. Since then, the technology development and licensing company has received global recognition for its manufacturing solution, and forged strategic partnerships with Altran, SLM Solutions and PSA Group (Peugeot, Citroen & DS).

 

About Divergent 3D

Divergent 3D harnesses the power of 3D printing to unleash innovation in automotive manufacturing. Its breakthrough technology platform transforms the economics and environmental impact of designing and manufacturing complex structures such as cars. Divergent’s planet-saving manufacturing approach enables both low and high volume manufacturing without costly, traditional tooling and capital expenses, enabling manufacturers to quickly iterate and invent new vehicle models for competitive advantage. As a technology company, Divergent partners with OEMs and innovative startups around the world to produce the next generation of vehicles. For more information, please visit www.divergent3d.com.

 

About O Luxe Holdings

O Luxe Holdings Limited is a Hong Kong-based investment holding company focused on developing technology-based companies that will accelerate the global adoption of electric vehicles and drive the world toward sustainable manufacturing and transportation. O Luxe company most recently acquired GLM Co., Ltd, a Japanese electric vehicles and engineering solutions company, and received a major investment from Mr. Li Ka-shing, a renowned Hong Kong entrepreneur, investor, and philanthropist. The Group is principally engaged in distribution of watches, wholesale trading of jewellery products, mining, money lending and securities investments.

 

About Horizons Ventures

Horizons Ventures, the private investment arm of Mr. Li Ka-shing, is a leading investor in some of the world’s most innovative companies and disruptive technologies, including Facebook, Spotify, Impossible Foods, Improbable, Zoom, Blockstream, Soul Machines and ChromaDex. For more information, please visit http://horizonsventures.com/

 

About SAIL

Shanghai Alliance Investment Limited is a private equity and venture capital arm of Shanghai Municipal Government. The firm invests in high-tech, media, entertainment, infrastructure, financial services, telecommunication, healthcare, life science, and emerging low-carbon sectors such as clean energy, new material and eco-environment protection. Shanghai Alliance Investment Ltd. was founded in 1994 and is based in Shanghai, China.

 

About Altran

As a global leader in Engineering and R&D services (ER&D), Altran offers its clients a new way to innovate by developing the products and services of tomorrow. Altran works alongside its clients on every link in the value chain of their project, from conception to industrialization. For over thirty years, the Group has provided its expertise to key players in the Aerospace, Automotive, Defense, Energy, Finance, Life Sciences, Railway, and Telecoms sectors, among others. With a headcount of more than 27,000 employees, Altran has a presence in more than 20 countries.

 

 

Media Contact

Lydia You | ID-PR

divergent@id-pr.com

(323) 822.4849

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