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Investments in companies – 17.8.2017

BCB Medical, the Nordic market leader in gathering and analysing clinical data, has raised new capital from a group of high quality institutional investors led by Standout Capital and Tesi. The investors will support BCB Medical’s continued growth in the Finnish market and the launch of BCB’s quality register software and clinical data products internationally.

“Thanks to Standout Capital and Tesi’s investment, we will have more resources to serve the Finnish healthcare market and invest in new services and markets related to analysing and comparing clinical data. Our aim is to spread best practices in outcome-based healthcare, which will improve the quality of treatments and achieve a better quality of life for patients,” says BCB Medical’s Managing Director, Petteri Viljanen.

According to Viljanen, technology in healthcare is advancing at a fast pace across all specialist fields. That is why the continuous development of software requires resources and new expertise. BCB’s quality registers include among others diseases cancers, musculoskeletal diseases and heart diseases.

“With this investment, we will double our personnel from 50 to 100 employees in Finland over the next three years. At the same time, we will expand the coverage of our quality registries from the current 60 disease groups to 100, which can be considered an achievement even on an international scale,” Viljanen points out.

In November 2016, the procurement unit formed by Hospital District of Helsinki and Uusimaa (HUS) and KL-Kuntahankinnat chose BCB Medical as the technical supplier of the quality registries with a goal to harmonise treatment quality on a national level.

“As of today, more than 9 000 healthcare professionals in 200 clinics are using our software on a daily basis. The objective is to put in place comparable monitoring in all of Finland’s hospital districts,” says Viljanen.

Finnish model is well advanced

Viljanen stresses that the digital model created in Finland for comparing treatment quality is well advanced on an international level. The company has over the years collected a structured clinical database of 1 million treatments with up to 3 000 data points in each treatment – a highly valuable resource for healthcare professionals as well as medical and drug researchers at universities and pharma companies.

“We have received a lot of enquiries from other countries concerning the quality registries and the clinical data. We are actively looking for the right commercial partners, especially from the Nordic countries, to launch our services internationally. We could follow the footsteps of the Finnish gaming industry in becoming a global phenomenon in our field, the digitalisation of medical information. Our goal is that, in three years’ time, more than 30 per cent of the company’s turnover should be international,” Viljanen says.

Investors prove strong backers for growth and internationalisation

“We are very pleased to have these experienced investors join our team. Standout Capital brings world-class expertise in the growth and internationalisation of technology companies and Tesi, as a significant Finnish anchor owner, its huge networks in both Finland and abroad,” says Viljanen.

“We are impressed with BCB Medical’s success in working closely with the leading Finnish healthcare providers like HUS in developing software that ultimately benefits patients. BCB Medical is a great example of our strategy to partner with outstanding technology companies that are transforming their industries through digitalisation,” says BCB’s new Chairman and Standout Capital’s Partner, Erik Wästlund.

“We want to contribute to strengthening Finland’s key position as a world-leading country in utilising medical information. BCB Medical has long been developing its know-how and products in Finland, and is now ready to take the next step towards the global healthcare ICT market,” says Director Heli Alhroos from Tesi.

Following the investment, Standout Capital became the largest shareholder of BCB Medical and together with Tesi, the majority shareholders. Stockholm based Backstage Invest is also participating in the financing round. Old shareholders will continue as minority shareholders of the company.

For further information:
Petteri Viljanen, Managing Director, BCB Medical, tel. +358 400 727 366, petteri.viljanen@bcbmedical.com
Erik Wästlund, Partner, Standout Capital, tel+ 46 70 755 79 69, erik.wastlund@standoutcapital.com
Heli Ahlroos, Director, Finnish Industry Investment Ltd, tel. +358 40 077 2833, heli.ahlroos@tesi.fi

 

BCB Medical is the Nordic market leader in gathering and analysing clinical data. Our mission is to combine, analyse and illustrate clinical data gathered from various sources and present it in an understandable format so that current and future generations can live healthier lives. Our vision is to revolutionise the way clinical data impacts people’s lives. Our turnover amounts to around EUR 4 million, and we employ 53 people. The company’s head office is located in Turku, Finland, and we also have offices in Espoo, Oulu and Tampere. www.bcbmedical.com

Standout Capital is a Stockholm based private equity firm investing in growing tech companies. We have a personal approach and entrepreneurial know-how. The founders and investment team build on personal experience in entrepreneurship, investments and finance. As an active owner, we are personally highly engaged in our firm and the companies we partner with. Our mission is to support outstanding companies to grow and succeed. Standout Capital invests in Nordic growth companies and the digital transformation in business and society. www.standoutcapital.com

Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal flow in Finland. Our investments under management total 1 billion euros and we have altogether 723 companies in portfolio. www.tesi.fi

 

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DGI Logan acquires Hadco Services Inc. as part of its diversification strategy

ik-investment-partners

Supported by its shareholder the IK 2007 Fund, which is advised by IK Investment Partners (IK), Doedijns Group International (DGI), through its US subsidiary Logan Industries International Corporation (DGI Logan), has acquired Hadco Services Inc. (Hadco). Hadco is a specialised repair and service company based in Mobile, Alabama.

Diversification
DGI, headquartered in the Netherlands, is a leading supplier of hydraulic equipment and repair and maintenance services for a wide variety of industries. The acquisition of Hadco fits perfectly into DGI’s diversification strategy. Hadco has a strong presence in the Alabama steel region and the US dredging industry, two target markets for DGI. Hadco’s focus is on repair and (field) services for hydraulic cylinders, gearboxes, and pumps and further strengthens the repair and maintenance capacity of DGI.

Local service
The acquisition of the assets of Hadco follows the opening of DGI Logan’s Louisiana based Offshore Operations & Maintenance Services location in January 2017. The combination of the three USA based DGI Logan locations (Houston, New Iberia and Mobile) gives the company a strong local presence in the oil & gas, steel and dredging industry, enabling DGI Logan to service its customer base locally. In addition, the engineering support will complement Hadco’s repair skills and the scale of the combination will lead to a wider repair and maintenance solutions portfolio. Additionally the support of New Iberia and Houston will open up a higher tier level capacity of repairs to Hadco Services.

Founded in 2005, Hadco is currently owned by its founder, Bobby Hadley. He will remain at Hadco as the General Manager to provide continuity and stability for this business and current customers. “The link up with DGI Logan will allow us to further expand our hydraulic services and capacity, benefitting our existing customers. We are looking forward to collaborate with our new colleagues at DGI Logan,” said Hadley.

Frank Robben, CEO of DGI, said: “The acquisition of Hadco is the next logical step in our strategy of industry diversification and further develop of DGI’s footprint. We now have acquired a business that is highly respected in the steel and dredging industry, and claimed a presence in the strategically important Alabama region which is home to a large segment of the USA steel industry. Additionally, Hadco’s expertise in hydraulic repair and maintenance will reinforce our competitive advantage.”

IK Investment Partners commented: “This transaction is in line with our strategy to support DGI’s international expansion. The company further strengthened its position as a hydraulic market leader, providing engineering, design, manufacturing, repair and maintenance services for high demanding industries.”

Dean Carey, Technical Director at DGI Logan, is excited to start work with Hadco: “This move to join-up with Hadco has many benefits to both companies. It is the obvious next move, and we are extremely pleased to join forces with Bobby and his team. The integrity and loyalty Hadco shows when dealing with their customers and employees matches the way DGI Logan does business.”

For questions:

Doedijns Group International
Frank Robben, CEO
T: +31 (0)85 488 13 00

DGI Logan
Shayne Babich, CEO
T: +1 713 849 2979

About Hadco Services Inc.
Hadco Services Inc., founded in 2005, is a specialised provider of repair and maintenance services to the dredging and Alabama steel industry. In addition to offering an extensive range of repair and maintenance services for hydraulic equipment, like cylinders, gearboxes, and pumps, Hadco’s qualified service engineers are also certified to provide field services in accordance with the requirements of the dredging and steel industry. The success of Hadco has been established upon a solid reputation for quality services, dedicated project management and on-time delivery.

About DGI Logan
DGI Logan started in 2001 primarily as a hydraulic cylinder repair facility. The company used its extensive experience in hydraulic systems and engineering to expand its capability to providing hydraulic equipment solutions in other areas of the offshore industry. In November 2012, DGI Logan was acquired by Doedijns Group International. One of DGI’s core business goals was to further enhance their already established hydraulic division in Europe and to capitalize on the USA and global offshore market controlled by many of the USA suppliers. DGI Logan was a perfect fit in meeting this objective.

About Doedijns Group International
Celebrating over 140 years of technical innovation, DGI has developed market leading positions in hydraulics and controls. With our global facilities and our highly skilled work force we continue to create added value solutions for the oil & gas, maritime, high-end machine building and heavy industries. From initial design engineering, through to specification, manufacturing and commissioning, DGI is the global partner of choice for local service. For more information, please visit the DGI website: www.dgi-company.com

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Qunomedical raises $2 million and changes its name to strengthen brand

Project A

Berlin, August 15, 2017. Digital Health platform Qunomedical (formerly Junomedical) today announced its funding round of $2 million and a new brand name. The platform provides patients with access and independent information on the world’s best doctors and hospitals. Qunomedical is the only provider to vet medical providers by means of a multi-stage quality algorithm developed by medical practitioners together with data scientists to list only accredited clinics. Dr. Sophie Chung, doctor and founder of Qunomedical, pursues the vision of breaking down the barriers to affordable, short-term and complex medical treatments for patients all over the world.

Investors like Kima Ventures from Paris are joining Project A from Berlin and 500 Startups from San Francisco, thereby strengthening the company’s international focus. “Digital health is one of our focus areas and we are happy to support companies like Qunomedical which are pushing the boundaries in the industry,” says Anton Waitz, Partner at Project A. “Since day one we believed in Sophie’s vision and it’s great to see the company grow in Germany and internationally.”

Launched in April 2016, the platform currently works with over 4,000 patients per month and partners with internationally certified clinics in 25 countries. Qunomedical shows monthly growth rates of 23% since its launch. In the first twelve months the company focussed on English-speaking countries. The most recent financial boost will help Qunomedical strengthen its presence in the English-speaking market and expand its offering in German-speaking markets. Jean de La Rochebrochard, Partner at Kima Ventures: “Qunomedical makes healthcare accessible to more patients by connecting them with the right doctors who can meet their needs in the best conditions. It’s very exciting to be part of this journey!”

The new name is another step to strengthen its international brand recognition as a leading patient-centric platform. According to Dr. Sophie Chung, CEO and founder of Qunomedical, this has been a strategic decision: “The name represents the next step in our company history. Our product has evolved over the last 1.5 years. With the financing round, we are now focusing on sustainable growth. The launch of the German website and potential trademark conflicts in the US were contributing factors for this decision.”

The new name reflects the deepened understanding about the patients who turn to Qunomedical. Derived from the Latin verb quaerere (engl.: search, seek), Qunomedical stands for the empowered patient, who is looking for the best possible medical care. The new logo visualizes the vision to simplify access to healthcare and focus on the patient. The magnifying glass reflects the company’s mission to make the medical options visible to patients worldwide. Most importantly, Qunomedical’s fundamental belief that everybody in this world deserves easy access to the best possible care remains, and continues to shape its mission.

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Bregal Unternehmerkapital sells proALPHA stake

Bregal unternehmerkapital

Munich/Weilerbach – Funds advised by Bregal Unternehmerkapital have sold their majority holding in enterprise resource planning (ERP) provider proALPHA. These shares were acquired by the management team and by funds advised by the international investment firm Intermediate Capital Group (ICG). Bregal will remain involved in the further development of proALPHA through a continuing interest. The transactions are pending, subject to approval by competition authorities.

proALPHA is one of the largest providers of ERP solutions for medium-sized manufacturing and trading companies in the DACH Region. Customers use its flexible and scalable ERP solution to control all processes along the value chain. Over the last years, the company has managed to consistently outgrow the market, with revenues topping € 100 million in fiscal year 2016. Just last year, the 25th anniversary of its founding, proALPHA acquired the Swiss Codex Group and opened its first office in China.

The funds advised by Bregal acquired their majority holding in proALPHA in 2013 from members of the founding team and Beaufort Capital. In addition to capital, expertise in internationalisation and the development of an M&A strategy, Bregal supported proALPHA with an extensive network of experts.

Friedrich Neumeyer, CEO of proALPHA: “We’d like to thank Bregal for its energetic commitment. We now have two experienced partners on our side, and new capital resources for growth investments.”

About proALPHA

The proALPHA group is the third largest provider of ERP for medium-sized manufacturing and trading companies in Germany, Austria and Switzerland. For 25 years, proALPHA has offered a powerful ERP solution as well as consulting, support, training, and maintenance services from one source. The flexible and scalable ERP solution features a wide range of functions that allow all processes along the value-added chain to be controlled. Among our customers are more than 1,800 medium-sized companies from 50 countries and from various industries, such as mechanical and plant engineering, electronics and high tech, metal working, plastics, wholesale, and automotive and supply industries.

With 25 subsidiaries and certified partners and about 800 employees, the fast growing company is close to its customers all over the world. More than a hundred software developers are constantly expanding and improving the solution. Thanks to them, proALPHA has been named one of the most innovative mid-sized companies eight times. This innovation is also possible thanks to the cooperation with renowned research institutions such as Fraunhofer, RWTH Aachen (Rhine-Westphalia Institute of Technology Aachen), Smart Electronic Factory and SmartFactoryKL. Numerous language versions and country versions make the German ERP provider an interesting partner for companies operating on an international scale.
Further information: www.proalpha.com/en

About Bregal Unternehmerkapital

Bregal Unternehmerkapital is part of COFRA Holding (www.cofraholding.com), a family-owned business that has been built up over generations. Its investment activity is based on long-term commitment and independent of developments in the financial markets. Bregal Unternehmerkapital identifies companies, with strong management teams, that are regarded as market leaders or “hidden champions” in their particular segment. Flexible financing and transaction structures enable it to acquire both minority and majority stakes. In doing so, Bregal Unternehmerkapital is also able to handle complex industry spin-offs, management buy-outs and succession situations. Bregal Unternehmerkapital aims to help companies achieve a sustained improvement in sales and profitability, and provides them with capital, proven financial expertise and access to a broad network of entrepreneurs and industry experts.

Further information: www.bregal.de/en

Media contact

IRA WÜLFING KOMMUNIKATION GmbH
Ira Wülfing
Ohmstr. 1, D-80802 Munich
Tel. +49 89 2000 30-30
E-Mail bregal@wuelfing-kommunikation.de
www.wuelfing-kommunikation.de/en

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EQT Mid-Market Credit provides financing to support TA Associates’ investment in Inspired

eqt

The EQT Mid-Market Credit Fund announced today that it has provided a tailored financing package to support a strategic growth investment by TA Associates in Inspired, a leading group of premium schools in Europe, Africa, Latin America and Australia. Terms of the transaction were not disclosed.

Inspired is a co-educational, non-denominational, independent school group designed to inspire students to achieve their maximum potential in a nurturing and progressive academic environment. Inspired has grown rapidly by building new schools and acquiring existing successful ones around the world. Inspired currently educates approximately 19,000 students between the ages of 1 and 18. The company has offices in London, Johannesburg, Bogota and Sydney.

Oakley Capital, the Oppenheimer family, the Mansour Group, Genesis Capital and Graeme Crawford (founder of Reddam House) will continue as shareholders of Inspired. Nadim M. Nsouli, founder of Educas, a long-term education investment vehicle, will remain as the lead investor in Inspired.

Andrew Cleland-Bogle, Director in EQT Partners’ Credit Team, Investment Advisor to the EQT Mid-Market Credit Fund, commented: “Inspired has achieved significant growth and development since its founding only four years ago.  We are delighted to support TA Associates as Inspired’s entrepreneurial management team looks to continue its impressive track record of growth and expansion.”

Andrew Konopelski, Partner and Head of EQT Partners’ Credit Team, Investment Advisor to the EQT Mid-Market Credit Fund, added: “This transaction exemplifies how private equity investors can use creative private debt capital to finance growth aspirations. Utilizing EQT’s independent Industrial Advisor network and sector expertise, we were able to move quickly with EQT Mid-Market Credit delivering a financing package on mutually attractive terms.”

Contacts:
Andrew Cleland-Bogle, Director at EQT Partners, Investment Advisor to EQT Mid-Market Credit,
+44 208 432 5429
EQT Press Office, +46 8 506 55 334

About EQT
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

The EQT Credit platform, which spans the full risk-reward spectrum investing with three strategies: senior debt, direct lending and credit opportunities, has invested over EUR 2.5 billion in more than 80 companies since inception in 2008. The EQT Mid-Market Credit Fund seeks to provide flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. These businesses may be privately-owned corporates seeking alternative funding to grow or be the subject of private equity-led acquisitions or refinancings.

More info: http://www.eqtpartners.com/Investment-Strategies/Credit

About Inspired
Inspired is a leading premium schools group in Europe, Australia, Africa and Latin America educating 19,000 students across a global network of 27 premium schools and five Early Learning Schools. Inspired offers a fresh and contemporary approach to education by re-evaluating traditional teaching methods and curriculums, and creating a more dynamic, relevant and powerful model reflecting current attitudes.

More info: www.inspirededu.co.uk

About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in nearly 500 companies around the world. Comfortable as either a majority or minority investor, TA employs a long-term investing approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital and is investing out of current funds of $7.25 billion. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong.

More info: www.ta.com

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DIF acquires a 25% stake in a major Jet Fuel Pipeline at Melbourne’s Tullamarine International Airport

DIF

Sydney, 10 August 2017 – DIF Core Infrastructure Fund I (“DIF CIF I”) is pleased to announce that it has acquired a 25% interest in the Somerton Pipeline.

The Somerton Pipeline is a 34km jet fuel pipeline which supplies fuel to Melbourne’s Tullamarine International Airport. It is a vital part of the jet fuel supply chain at Australia’s second busiest airport and supplies the majority of the total fuel demand at the airport.

Marko Kremer, DIF’s Head of Australasia added: “DIF is delighted to add the Somerton Pipeline to its existing investment portfolio. We are excited to be a shareholder of a critical piece of the supply chain infrastructure supporting the Tullamarine Airport.”

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €4.2 billion across seven closed-end investment funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies.

The majority of DIF’s funds target PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australasia.

DIF CIF I targets small to mid-sized infrastructure assets in the telecom infrastructure, rail, energy and utility sectors that generate stable and predictable cash flows that are contracted over the mid-term with highly rated entities. The fund targets both greenfield and operational projects in Europe, North America and Australasia.

DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Willem Jansonius, Partner
E-mail: w.jansonius@dif.eu

Allard Ruijs, Partner
E-mail: a.ruijs@dif.eu

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CapMan plans to set up new Growth Equity fund and appoints Partner to the team

Capman

CapMan plans to set up new Growth Equity fund and appoints Partner to the team

CapMan plans to set up new Growth Equity fund focusing on minority investments in unlisted companies. In addition, CapMan strengthens its Growth Equity team by appointing Antti Kummu as Partner.

The background research of the new planned Growth Equity fund demonstrates that the investor appetite for active minority investments is high. Furthermore, CapMan Growth Equity’s track record is strong due to successful value-add work in the portfolio companies in addition to significant exits. The targeted fund size of the new growth investments fund is approximately MEUR 80 and fund raising is planned to be executed during 2017.

“There is significant demand for structured growth equity instruments and CapMan is pleased to be able to offer investors this alternative investment opportunity,” comments Juha Mikkola, CapMan Growth Equity, Managing Partner.

The new Growth Equity Partner Antti Kummu has more than 10 years of experience from the private equity industry. He joins CapMan from Touhula Varhaiskasvatus Oy, where he acted as CFO. Prior to that, he worked for Coronaria Hoitoketju Oy as Director. He was also a member of Finnish Industry Investments’ Management Group and responsible for direct investments in to later stage companies and direct industrial investments.

“The new planned Growth Equity fund and the team appointment of Antti Kummu reflects our growth strategy in which crucial components are launching new business areas and products. We are very pleased to welcome Antti at CapMan and to strengthen our Growth Equity team. Antti’s strong background will support our Growth Equity team’s expertise and we are now in a good position to achieve great results also in this new private equity category”, says Joakim Frimodig, CapMan’s Interim CEO.

The objective of the Growth Equity investment activities is to find unlisted target companies with strong growth potential, to make significant minority investments worth of more than one million in them and, as an active investor, to develop their value so as to achieve returns in excess of the market average. CapMan’s Growth Equity portfolio consists of six unlisted Nordic companies at the moment.

For further information, please contact:
Juha Mikkola, Managing Partner, Growth Equity, CapMan Oyj, tel. +358 50 590 0522
Joakim Frimodig, Interim CEO, CapMan Oyj, tel. +358 50 529 0665

CapMan
www.capman.com
twitter.com/CapManPE

CapMan is a leading Nordic investment and specialised asset management company. As one of the Nordic private equity pioneers we have actively developed hundreds of companies and real estate and thereby created substantial value in these businesses and assets over the last 25 years. CapMan has today 110 private equity professionals and manages €2.3 billion in assets. We mainly manage the assets of our customers, the investors, but also make direct investments from our own balance sheet in areas without an active fund. Our objective is to provide attractive returns and innovative solutions to investors and value adding services to professional investment partnerships, growth-oriented companies and tenants. Our current investment strategies cover Buyout, Growth Equity, Real Estate, Russia, Credit, Infrastructure and Tactical Opportunities. We also have a growing service business that currently includes fundraising advisory, procurement activities and fund management.

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EQT Infrastructure to make majority investment in Spirit Communications

eqt

  • EQT Infrastructure to invest in majority stake in Spirit Communications, a leading pure-play fiber based data and broadband service provider in South Carolina, North Carolina and Georgia in the U.S.; the current owners will retain a significant stake in the company
  • Spirit operates in the highly attractive fiber infrastructure sector, a core market for EQT where it holds significant industry expertise
  • Spirit and EQT Infrastructure are jointly committed to continue to provide high quality services to current and future customers and to continue the growth of the company

The EQT Infrastructure III fund (“EQT Infrastructure” or “the fund”) has signed a definitive agreement to invest in a majority stake of Spirit Communications (“Spirit” or “the company”) from its founding partners who will retain a significant ownership interest in the company.  Following the transaction, Spirit Communications President and CEO Robert Keane and current Chairman of the Board of Spirit Brian Singleton will each be appointed to the new Board of Directors.

Founded in 1985, Spirit is a leading pure-play provider of fiber based data and broadband services to enterprises, governments, and wireless carriers in the Carolinas and Georgia. The company’s network is comprised of over 9,000 miles of fiber and serves thousands of customers across 17 metro markets.  Spirit’s fiber is directly connected to over 2,400 buildings as well as over 2,500 cell sites.

EQT Infrastructure will invest in the continued development of Spirit’s fiber footprint and services. The company is expected to benefit from the underlying macro trends of growing data traffic and increasing data bandwidth needs.

Robert Keane, President and CEO of Spirit Communications, commented, “After many months of effort to identify the right partner to continue and accelerate Spirit’s capabilities, EQT was identified as the type of partner that would help transform the business. EQT has had a long and storied history beginning with the heritage of the Wallenberg family which has significant investments in many household names in North America, such as, Electrolux, AstraZeneca and Ericsson to name a few. I am very excited to join the new board and to work with EQT on the continued growth of Spirit.”

Jan Vesely, Director at EQT Partners, Investment Advisor to the fund, added: “We are very impressed with what the management team and the current owners have been able to achieve with the company and are thrilled about the opportunity to invest in the future growth and development of Spirit. The company is a perfect match for EQT Infrastructure’s expertise in the fiber sector and strategy to build a platform for growth in the region.”

Brian Singleton, CEO of TruVista and Chairman of Spirit Communications, stated, “Spirit has been an essential part of the fabric of each of our companies since 1985, supporting the needs of the Member Companies while enhancing the communications infrastructure for our customers. This partnership with EQT Infrastructure gives us a unique platform for even greater success in the years to come.”

The parties have agreed not to disclose financial details of the transaction.

The transaction is subject to customary regulatory approval and other closing conditions.

TD Securities and Waller Capital Partners, LLC served as co-financial advisors to Spirit in connection with the transaction. McNair Law Firm, P.A. served as legal counsel to Spirit in connection with the transaction.  Simpson Thacher & Bartlett LLP and Morgan, Lewis, & Bockius LLP served as legal advisors to EQT Infrastructure.

Contacts:
Media Contact
Grey Humphrey
Chief Marketing Officer
+1 (803) 726-4080
grey.humphrey@spiritcom.com

EQT Press office: +46-8-506 55 334 (International media)

KEKST: + 1 (212) 521 4800 (US media)
Daniel Yunger or Ross Lovern, daniel.yunger@kekst.com / ross.lovern@kekst.com

About Spirit Communications
Headquartered in Columbia, South Carolina, Spirit uses traditional and advanced technologies to connect people around the corner, throughout the Carolinas, and beyond, enabling customers to transform their operations through fast, stable and secure offerings that flex with business demand. With the most advanced technologies, Spirit provides voice, data, Internet and fiber optic solutions along with a full suite of Cloud services to Enterprise, Carrier and Government customers across the Southeast. As a leading provider, Spirit serves thousands of customers in over 150 service locations with over 9,000 miles of fiber throughout South Carolina, North Carolina and Georgia.

More info: www.spiritcom.com

About EQT
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

 

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EQT Mid Market US acquires Data Intensity

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  • EQT Mid Market US acquires Data Intensity, a leading independent provider of mission-critical application and database managed services
  • EQT Mid Market US to support the continued growth trajectory of Data Intensity by leveraging EQT’s global network and relationships, experience in scaling international businesses as well as deep knowledge of the Software and IT Services industries

The EQT Mid Market US fund (“EQT Mid Market US”) today announced that it has acquired Data Intensity (“Data Intensity” or the “Company”) from Audax Private Equity. Data Intensity is a leading independent provider of mission-critical application and database managed services.

Founded in 2001, Data Intensity helps its customers increase the value of their enterprise software and improve the efficiency of critical business processes. The Company cost-effectively supports the full scope of a customer’s enterprise data, making their most critical applications and data manageable and actionable. The Company manages more than 3,000 application instances and 10,000 databases across multiple IT environments including on-premise, private cloud, public cloud, and hybrid cloud. Data Intensity is headquartered in Bedford, Massachusetts with over 650 employees and operations in the U.S., U.K., Europe, Australia, and India.

Brendan Scollans, Partner at EQT Partners, Investment Advisor to EQT Mid Market US, said: “We have been impressed by Data Intensity’s industry leading technical and functional capabilities, talented management team, and track record of delighting its customers. CEO Kirk Arnold and her team have built a world-class platform that is well positioned for increased momentum in the U.S. and internationally. EQT’s expertise in the technology and services sectors, along with its global network, will accelerate the company’s growth and expansion strategy.”

Kirk Arnold, CEO of Data Intensity, said: “As enterprises in data-intensive industries continue the shift to the hybrid cloud, we enjoy an emerging growth opportunity at the intersection of our expertise in application managed services, public and private cloud delivery platforms, and flexible business models. EQT’s investment will help us expand our portfolio of services, enter new markets and incorporate new service-oriented tools and technologies to capitalize on this trend while, above all else, continuing to focus on delivering world-class service to our customers.”

Kirkland & Ellis LLP served as legal advisor to EQT. Jefferies LLC and DH Capital LLC served as financial advisors to Data Intensity. Ropes & Gray LLP served as legal advisor to Data Intensity and Audax Private Equity. Golub Capital provided financing for the transaction.

Contacts:
EQT Press Office, +46 8 506 55 334
Brendan Scollans, Partner at EQT Partners, Investment Advisor to EQT, +1 (917) 281 0849
KEKST: + 1 (212) 521 4800 (US media) Daniel Yunger or Ross Lovern,
daniel.yunger@kekst.com / ross.lovern@kekst.com

About EQT
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in the US, Europe, and Asia with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence, and market leadership.

More info: www.eqtpartners.com

About Data Intensity
Data Intensity is a leading independent managed services provider for enterprise databases, applications, business intelligence solutions and analytics. Our expertise in applications, infrastructure and cloud platforms helps organizations optimize their software investments and business processes, achieving higher availability, performance, velocity and scalability. Our solutions combine best-in-category technology, world-class services, a flexible business model and deep expertise gained from partnering with our customers. Our goal is to cost-effectively support the full scope of a customer’s enterprise data lifecycle, making their most critical applications and data manageable and actionable.

More info: www.dataintensity.com

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Livingbridge invest in Symphony Ventures

Symphony

Livingbridge, the mid-market private equity firm, today announces its investment in Symphony Ventures, a global services firm focused on Robotic Process Automation (RPA) and Intelligent Automation.

The £3.5m series A investment will be used to fuel continued rapid expansion to meet demand for Robotic Process Automation services.

Our funding will further accelerate Symphony’s rapid growth – including a doubling of employee numbers – and continue its glo­­­­­bal expansion, increasing delivery capacity and widening product development. Symphony also welcomes two new members to its Board of Directors: Henry Alty of Livingbridge, and Bill Thomas, managing partner of Acresis – a founder advisory firm that supports Symphony on its growth and liquidity goals – joins as Chairman of the Board.

Symphony was founded in 2014 and provides consulting, implementation and managed services to enterprise clients looking to automate operational processes that are manual, repetitive, complex and time consuming through RPA and Intelligent Automation solutions. RPA can yield improvements in speed, accuracy, quality and compliance while delivering significant cost savings. Employees can be freed up to focus on more dynamic, engaging work while customers can experience higher satisfaction levels through improved interactions.

Organizations in all industries are increasingly adopting RPA for front, middle and back office functions ranging from human resources, to finance and accounting, to procurement to logistics. The RPA industry has demonstrated rapid growth in recent years and according to HfS Research, the market is expected to reach £920 million ($1.2 billion) by 2021*. Symphony was ranked the #1 RPA Pure Play Specialist by HfS Research in 2016** and recognized by Gartner as a Cool Vendor in 2015***. Symphony’s client portfolio includes firms in more than 21 countries in financial services, telecommunications, health care, logistics and the public sector.

Symphony’s founders have been at the forefront of work innovation for two decades as former Business Processing Outsourcing (BPO) industry executives and have a combined 70+ years of market experience. The team recognized early on that automation had the potential to unleash significant value for enterprises. Led by Chief Executive Officer David Poole, Chief Strategy Officer Ian Barkin, Chief Client Officer Pascal Baker and Chief Operations Officer David Brain, Symphony has grown in just three short years into an unrivaled 120-person strong team of talented professionals worldwide, known for delivering some of the most complex and impactful RPA solutions.

Livingbridge has experience in working with high-growth technology companies, having invested in firms such as email signature software company Exclaimer, B2B connectivity and internet infrastructure provider M24Seven and field force automation software provider Kirona. The investment in Symphony Ventures uses funds from the Baronsmead Venture Trusts.

CEO David Poole said:

“We are delighted to be working with Livingbridge. We had a choice of partners and selected Livingbridge for its strong track record of helping founders achieve rapid growth, while respecting the company and the culture in place.

“Across the globe, we’re seeing exceptional demand for enterprise-grade RPA, and Livingbridge’s vision of the market proved to be one of the most strategic and insightful about how we can meet client needs and, by doing so, further accelerate Symphony’s growth and expansion.”

Henry Alty of Livingbridge said:

“Symphony Ventures has swiftly developed a strong position in the rapidly growing RPA and Intelligent Automation space, a multi-billion-pound sector we have monitored since its inception. Symphony’s impressive founding leadership team has developed a compelling proposition for its clients, and we are excited to be working with them to further accelerate Symphony’s growth.”

Symphony will use the investment to expand hiring within its core markets in the U.S., U.K. and Poland, and to extend its capabilities into new geographies. The company plans to at least double its current team size over the next 12 months. The company will also continue to invest in product development and broaden its service catalog to bring new, high-demand offerings to market. Symphony plans to introduce an innovation lab that will provide infrastructure to allow feasibility assessments of RPA and other new ecosystem technologies.

Additionally, Symphony will use the funding to address the explosive demand for RPA skills in the market by developing training programs for enterprises to scale RPA teams and train RPA developers side-by-side with the company’s experts. The funding will also support a new service category that will offer lower risk RPA-centric outsourcing solutions that create higher value for clients than traditional BPO.

Symphony works with a leading roster of RPA and Intelligent Automation software providers including Blue Prism, UiPath, NICE Systems, Kryon Systems and Celaton. The company continues to expand its digital ecosystem of tools and capabilities – responding to changing market trends – to be able to offer expanded solutions for clients.

“RPA is extremely complex and requires a unique set of process and technical skills,” said Phil Fersht, HfS Research. “Businesses understand the great benefits the technology can offer, but lack the know-how to effectively select and manage solutions so that they deliver the greatest return based on their specific goals and applications. As a result, demand for skilled expertise from RPA specialists like Symphony Ventures is unprecedented.”

 

 

 

*http://www.horsesforsources.com/RPA-marketsize-HfS_061017

**http://www.horsesforsources.com/RPA_pureplays_121616

***https://www.gartner.com/doc/3028319/cool-vendors-business-process-services

 

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