Category Archives: News

KRY, the Swedish video-based healthcare provider, announces €20m Series A investment

KRY (kry.se), the Swedish digital health startup that makes healthcare more accessible and convenient through on-demand video consultations, today announces a €20m ($23m) Series A funding round led by global venture capital firm Accel with participation from existing investors Index Ventures, Creandum, and Project A. Index led KRY’s Seed round in 2016.

KRY will use the funding to deepen penetration in current markets, launch in new markets, and reach its goal of providing sustainable healthcare with equal access for everyone in Europe. As part of the investment, Sonali de Rycker, who led Accel’s investments in Spotify and Avito, will join KRY’s board.

KRY reduces pressure on highly strained healthcare systems, by offering a more accessible and convenient digital consultation service. KRY estimates that with existing technology, 90% of all primary care visits can be transferred online in future, with the service currently capable of handling 60% of the 100 most common diagnoses in primary healthcare. By using KRY, patients who do not need a physical examination can see a doctor faster, while time at a physical clinic is freed up for those who are most in need of in-person care. Additionally, KRY increases accessibility for those who may have difficulties travelling to a clinic due to long distances, waiting times, mental/physical disability, or language barriers. In contrast to other telemedicine companies, KRY is not built for the healthcare industry, with the company focussing on customer service and experience.

Johannes Schildt, KRY CEO and co-founder, comments: “KRY is built by patients, for patients. Our main priority is always to build a service that allow patients equal access to healthcare on their own terms. We welcome Accel who share a great ambition for healthcare to be revolutionised across Europe.”

Sonali de Rycker, Partner at Accel, adds: “KRY brings tremendous efficiencies and cost savings to the healthcare system while providing much needed access to timely healthcare for consumers. We are thrilled to back Johannes and the KRY team, who have already achieved impressive growth in Sweden, Norway and Spain in a short period of time.”

How KRY works

Stockholm-based KRY is Sweden’s first ever digital medical centre, allowing patients to have a video consultation with a KRY-employed healthcare professional via their mobile phone or tablet, rather than a physical appointment. KRY, which launched in 2015, serves more than 1% of all primary healthcare in Sweden, employing over 200 doctors. KRY is also available in Norway and Spain.

Patients can download the KRY app – available on iOS and Android – and select a suitable time for a video-based doctor’s appointment. Prior to the appointment, the patient describes their symptoms in writing, uploads relevant pictures, and responds to symptom-specific questions. At the scheduled time, the doctor calls the patient through the app to start the video consultation. During the video call,  patients may receive prescriptions for medication, advice, referral to a specialist, or lab or home tests with a follow-up appointment. Prescribed medication and home tests can then be delivered straight to the patient’s home within two hours.

KRY’s video conferences cost 250 Swedish Krona (around £25/$31) per session.

Societal impact

By 2025, Sweden aims to be a world leader in e-health facilities, making it easier for people to receive a good and equal provision of care. However, as with most European welfare states, Sweden’s healthcare system is currently struggling with staggering costs, strained resources, as well as unequal and decreasing access for patients, leaving vulnerable groups behind. KRY aims to play a central role in meeting current and future needs for patients and healthcare professionals, and while the service currently complements primary healthcare, in the future it will act as a viable substitute. Had they not had access to the service, 93% of KRY’s patients would have been in need of a physical appointment.

About KRY

Founded in 2014 by Johannes Schildt, Fredrik Jung-Abbou, Josefin Landgård, and Joachim Hedenius, KRY aims to provide around-the-clock healthcare for patients all over the world, reducing the pressure on traditional healthcare providers.

KRY, which has more than 100,000 users across Sweden, Norway, and Spain, is an approved healthcare provider, with its doctors all subject to the industry standard rules and regulations. KRY has hundreds of doctors available to connect with patients seven days a week. In August 2016 KRY raised €6.1 million seed funding, which helped the company launch in Norway and Spain and secure key hires.

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Norvestor invests in NetNordic

Norvestor

Norvestor VII, L.P. (“Norvestor”), a fund managed by Norvestor Equity AS, has signed an agreement to invest in NetNordic (“The Company”). Following the acquisition, Norvestor will become the largest shareholder in NetNordic with approximately 75% of the shares whilst the management and employees will hold the
remaining 25%.

NetNordic is one of the largest independent System Integrators in the Nordics with a leading position within communications solutions networks and security. The Company was established in 2001
and has experienced strong growth over the last few years
through organic initiatives and acquisitions. NetNordic partners include technology leading industry vendors like Juniper, Huawei, Nokia, Microsoft, Mitel, Palo Alto, Arbor and Avaya.

NetNordic delivers solutions and services for Unified Communication(i.e. integrated secure enterprise communication solutions including video, mobile, conferencing and contact centers), network security and network management, WiFi-as-a-service and tailor made system integration for its customers.
Nordic customers include LME , public administration,
municipalities, operators and service providers which all view
NetNordic ́s services as a critical component of their business.

“We are proud of what we have accomplished and foresee strong
Growth opportunities ahead of us.
In Norvestor we have found a partner with a proven track record and experience from our business which will contribute both to expand our business and to explore new opportunities. We are extremely happy about this new partnership and are confident that this will allow us to deliver even better and broader solutions, services and customer experiences in the future”, says Jarl Øverby, Group CEO of NetNordic.

“We’re excited to include NetNordic in our portfolio. It’s a company
that has shown strong growth with a highly skilled management and
organization. We are impressed by the ircompetence and the industrial platform they have built. The market fundamentals give NetNordic growth opportunities and we look forward to contributing to further development and success. We also aim to participate in consolidating a fragmented Nordic system integrator market, making NetNordic an ideal match for
Norvestor”, says Christian Sontum, Partner at Norvestor Equity and Chairman designate in NetNordic Holding.

“NetNordic has been a very special and successful journey for us since we entered as a venture investor back in 2007 when the company was fairly young. It is therefore both with pride and humility we now leave the majority ownership to Norvestor. We are confident in their future together and wish Norvestor and the NetNordic team all the best in continued growth by providing the utmost customer focus and highest industry standard”, says Tor Øystein Repstad, Managing Director in Agder Energi Venture.

Contact persons:
Jarl Øverby, CEO of NetNordic Group,
jarl.overby@netnordic.com, tel. +4798217009.
Christian Sontum, Partner of Norvestor Equity AS,
christian.sontum@norvestor.com, tel. +47 99153698
Tor Øystein Repstad, CEO of Agder Energi Venture AS,
tor.oystein.repstad@ae.no, tel. +47 90696862

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Ardian Acquires stake in T2O Media

Paris, 27 June 2017

– Ardian, the independent private equity company,today announces its acquisition of a minority stake in T2O media, the leading independent digital media agency in Spain.

Founded in 2004 by current CEO Oscar Alonso and CIO Tomas Hernandez, T2O media has cemented its status as Spain’s premier independent digital agency. In addition to its original locations in Madrid and Barcelona, the company has opened offices in Milan, Trento, Mexico City and, most recently, Houston, which it opened in 2016. The agency’s clients include top-tier Spanish companies active in the travel industry, including Barceló Hotel Group, Bahia Principe and Palladium, as well as financial institutions, such as Aegon, Axa and Unicredit.

Óscar Alonso, CEO of T2O media, said: ‘After acquiring Webperformance in Italy and opening our new office in the United States, we wanted to continue this development phase with support from a leading partner which understands the dynamics of our market and is capable of helping us seize opportunities. Given its expertise in the sector and its track record, Ardian Growth was the natural choice as the partner to work with us.’ In addition to the network and expertise Ardian can provide to support growing companies, this partnership will help the management team consolidate its position in Southern Europe and underwrite its ambitions of helping advertisers reach Spanish-speaking markets in Mexico and the United States. In this rapidly expanding industry, T2O media is one of the few independent agencies to have successfullypenetrated the Mexican market while at the same time drawing on its digital expertise to attract North American clients.

Bertrand Schapiro, Senior Investment Manager at Ardian Growth, added: ‘In the constantly evolving agency market, T2O media has cemented its leading position in Spain. The team has the reputation and the ambition to become a top international player for brands looking to reach the Spanish-speaking market in Europe and LATAM.’

Geoffroy de La Grandière, Director of Ardian Growth, added: ‘After making several investments in Italy,our first push into Spain solidifies our positioning as a premier growth equity player in France and Southern Europe.’

ABOUT T2O MEDIA

T2O media is a Digital Media Agency founded in 2004,that designs and manages marketing and communication strategies with a results orientated approach (Paid, Owned, Earned Media, relying always on Technology). His team has achieved important awards: T2O media has been named National Champion in the UKTI Innovation category by the Europeans Business Awards 2016 and is one of the first companies in the world to have obtained the title of DoubleClick Certified Marketing Partner. Currently has permanent offices in Europe, LATAM and US, where is the partner of major brands. Its clients include Barceló Hotel Group, Honda, Unicredit, José Cuervo, Movistar, Nextel and AXA insurance.

ABOUT ARDIAN

Ardian, founded in 1996 and led by Dominique Senequier, is an independent private equity company with assets of US$62bn managed or advised in Europe, North America and Asia. The company, which is majority- owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship. Ardian maintains a truly global network, with more than 450 employees working through twelve offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, San Francisco, Beijing, Singapore, Jersey, Luxembourg. The company offers its 580 investors a diversified choice of funds covering the full range of asset classes, including Ardian Funds of Funds (primary, early secondary and secondary), Ardian Private Debt, Ardian Buyout (including Ardian Mid Cap Buyout Europe & North America, Ardian Expansion, Ardian Growth and Ardian Co-Investment), Ardian Infrastructure, Ardian Real Estate and Ardian Mandates.

 

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FSN Capital V acquires a majority stake in Holmbergs Safety System

FSN Capital V (“FSN Capital”) has signed an agreement to acquire a majority stake in Holmbergs Safety System Holding AB (“Holmbergs”, the “Company”), a leading global supplier of mission critical safety systems to the child safety seat industry. Existing management and current owners 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 and holds a reputation for leading quality and engineering capabilities. The underlying child safety seat market is fast-growing and supported by favourable structural growth drivers such as stricter safety regulations and increased safety awareness.

Holmbergs is a joint global market leader in the fast-growing niche market of safety products and systems to the child safety seat industry. During the twelve months period ending on 30th April 2017 Holmbergs reported sales of SEK 316m and the Company has generated an organic sales CAGR of 18.5% 2014-2016. In partnership with FSN Capital, Holmbergs aspires to reinforce its strong market position and further accelerate international growth, primarily in Asia. Additionally, the Company intends to grow its adjacent secured transportation business, through both organic and inorganic initiatives.

“We are impressed by Holmbergs’ development over the last years and we are excited about the Company’s significant organic and inorganic growth potential. Holmbergs’ position as a market leader in a global niche market, supported by strong structural growth drivers, represents an attractive investment opportunity for FSN Capital and we are eager to support Holmbergs’ management team in the Company’s next growth journey”, says Marcus Egelstig, Principal at FSN Capital AB, acting as adviser to FSN Capital.

“It has been an exciting journey since I joined Holmbergs in 2008. We have successfully created a strong operational footprint with a joint leading position in all key markets and have consistently enjoyed double-digit growth with increasing profitability. We are recognized by our customers as a quality supplier in a market with strong underlying growth and is eager to continue the development together with our new principal owner FSN Capital”, says Anders Sandell, CEO of Holmbergs.

“The board is very proud of what the management team has achieved with the Company. Holmbergs has performed extremely well in all core markets and introduced new products, won new customers and continues to drive innovation forward. With a clear strategy for continued profitable growth, I am excited to continue to work with the Company under the FSN Capital ownership”, says Mikael Hägg, Chairman of the Board of Holmbergs.

FSN Capital was advised by White & Case, EY and Bain & Company. Financing is provided by Danske Bank.

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BioGeneration Ventures Fund III Secures EUR 66m, exceeding EUR 50m target

BioGeneration Ventures

  • Attracted by the strong performance of BioGeneration Ventures (BGV), new investors joined BGV III including the European Investment Fund, whose contribution comes from InnovFin Equity Facility and the Dutch Venture Initiative II
  • BioGeneration Ventures focuses on entrepreneurship and innovation in therapeutics, medical devices and diagnostics in Europe
  • BGV III already made 4 investments and expects to make 15 investments in total

Naarden, The Netherlands, 27 June, 2017 – BioGeneration Ventures (BGV), the early stage life sciences venture capital firm with funds focussed on European biotechnology companies, announces today an investment by the European Investment Fund (EIF) and other new investors in BGV III, taking the total capital commitments to EUR 66m, out of a maximum EUR 75m. The Fund is supported by the “InnovFin – EU Finance for Innovators” initiative under Horizon 2020 and the European Fund for Strategic Investments.

The new fund will build on the track record of the first two BGV funds which yielded major successes including Dezima Pharma and Acerta Pharma. BGV was founding investor in both companies which were sold within three years at multi-billion dollar valuations. At USD 7 billion Acerta was the largest private exit in Europe in the biotech sector to date. These companies are typical examples of the biotech sector’s ability to generate so-called “unicorns” delivering outsized returns for investors.

The firm’s third fund will focus on therapeutics, medical devices and diagnostics, within Europe, in particular in Benelux and Germany. Four investments have already been made from the fund into German immuno- oncology company Catalym, and Dutch companies Escalier Biosciences, Scenic Biotech and Varmx, working on autoimmune diseases, target discovery, and haematology respectively.

Edward van Wezel, Managing Partner said: “Our third fund makes BGV amongst the largest life sciences funds dedicated to seed investments in Europe. Over the last decade we have made over twenty investments in the European life sciences ecosystem. We’ve observed an ever-increasing interest from pharma in acquiring innovations earlier. With this third closing we are significantly exceeding our target fund size and are delighted with the commitment of EIF and other new and existing investors in BGV III. We expect to reach the maximum fund size of EUR 75m before the end of 2017.”

Pier Luigi Gilibert, Chief Executive of the European Investment Fund, said: “The EIF enhances SMEs access to finance. By investing in BGV’s new fund, the EIF is continuing its long-standing support for entrepreneurship and innovation in early stages of company development.”

BGV operates as a joint venture with Forbion Capital Partners, providing access to the later stage perspective on early innovation and a global network of experts and pharma companies. The BGV team has broad experience in investment, life sciences, business development, and commercial operations. The team includes experienced biotech entrepreneurs as venture partners and advisors.

-Ends-

About BioGeneration Ventures (BGV)

BioGeneration Ventures (BGV) is a specialist life sciences venture capital firm, with a focus on early stage European biotech, medtech, and diagnostics companies. BGV has a strong track record of significant financial returns through investing in innovations in healthcare and providing the expertise to build world- class teams. BGV manages funds investing in areas where the science, the unmet medical need, and the potential to promptly demonstrate a significant proof of concept all come together.

Successful investments include divestment of Dezima Pharma to Amgen for up to USD 1.55 billion in total deal value and in Acerta Pharma for up to USD 7 billion with a guaranteed payment of USD 4 billion. In both companies BGV was founding investor. The Acerta Pharma sale was the largest exit ever of a privately held European biotech company. Over the last decade BGV has made over 20 investments.

About EIF

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.

About the Investment Plan for Europe

The Investment Plan focuses on strengthening European investments to create jobs and growth. It does so by making smarter use of new and existing financial resources, removing obstacles to investment, providing visibility and technical assistance to investment projects. The Investment Plan is already showing results. The projects and agreements approved for financing under the European Fund for Strategic Investments – the financing arm of the plan – so far are expected to mobilise over EUR 168 billion in total investments across 28 Member States and to support more than 387 000 SMEs.

On 14 September 2016, the European Commission proposed extending EFSI by increasing its firepower and duration as well as reinforcing its strengths. Find the latest EFSI figures by sector and by country here.

About InnovFin Equity

InnovFin Equity is part of InnovFin – EU Finance for Innovators, the new generation of EU financial instruments and advisory services developed under Horizon 2020, the EU’s research and innovation programme, to help innovative firms access finance more easily.

InnovFin Equity consists of several predominantly early stage equity products. The products aim at improving access to risk finance by early-stage RDI-driven SMEs and small midcaps through supporting mainly early-stage risk capital funds that invest, on a predominantly cross-border basis, in individual enterprises. SMEs (and small midcaps) located in Member States or in Horizon 2020 Associated Countries are eligible as final beneficiaries. The aggregate investments to venture capital funds made out of InnovFin SME Venture Capital are expected to support between EUR 1.6 to EUR 2 billion of equity financing to final beneficiaries.

About DVI II

Publicly launched in March 2016, DVI-II is a EUR 200m Venture and Growth Capital Fund-of-funds initiative of the EIF and PPM Oost, supported by the Dutch Ministry of Economic Affairs.

DVI-II intends to build a balanced portfolio of 15 to 20 venture and growth capital funds that are able to demonstrate a strong investment focus on the Netherlands. DVI-II supported Fund Managers need to focus on companies in their early or development stages. Eligible funds should also have a strong innovative angle, by focusing on companies operating in different technology areas, such as ICT, Life Sciences, Cleantech or Energy.

As an advisor to DVI-II, the EIF can rely on over 20 years of experience in the European Venture Capital market and successful implementation of similar initiatives in close collaboration with national and regional partners across Europe.

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KPN Ventures joins €8M investment round in Belgian data company Sentiance

KPN Ventures

Antwerp, New York, June 22, 2017

Sentiance announces today that it has secured €8 million in funding led by Volta Ventures, with co-investor KPN Ventures. All previous investors including Samsung Catalyst Fund, Qbic, Pamica (investment company of Michel Akkermans) and top management participated in the new funding round. The investment will be used to execute on Sentiance’s vision to gain leadership, strengthen its intelligence platform and accelerate the growth globally.

The company’s platform uses machine learning algorithms and deep learning techniques to analyse IOT sensor data from mobile phones, wearables and IoT gateways. Sentiance turns this data into rich behavioural and contextual insights: understanding and predicting how people go through their everyday lives. Clients use the Sentiance platform to enrich their first-party customer data with real-life behavioural data so they can deliver context-aware and highly personalized experiences. Sentiance powers a broad range of applications including world class telematics and driver scoring, personalized health coaching, real-time customer engagement as well as smart home products and services.

“As IOT gains momentum consumers are rapidly adopting smart objects in their everyday lives. The sensors in these IOT devices generate a ton of data about how they behave and why they behave the way they do. Sentiance helps companies make sense of this new and very powerful data. Some of the world’s most innovative companies are adopting our platform to help them make their customers’ lives safer, smarter, healthier and convenient. Ultimately the Internet of Things should be about people, not things. We believe the real promise of IOT is the Internet of You.” said Toon Vanparys, CEO of Sentiance.

“Major players in the insurance, ride-hailing, mobility, health and IOT industries use Sentiance’s AI platform to power the Internet of You. This has the potential to change the lives of everyone around us which makes working with the Sentiance team such a positive and rewarding experience. ” said Frank Maene managing partner of Volta Ventures. “Sentiance was the first investment we made when we started the fund in January 2015 and we’re excited to continue our journey with them as the team grows to its next stage.”

Herman Kienhuis, managing director of KPN Ventures adds: “The future digital customer experience will be fully personalized. Sentiance’ powerful predictive analysis technology offers companies a unique tool to improve their customers’ experience and develop new personalized services, while respecting strict European privacy laws. We’re happy to support the Sentiance team in realizing this ambition, together with a powerful group of international investors”

About Sentiance
Sentiance is a data science company turning IOT sensor data into rich insights about people’s behaviour and real-time context. Sentiance was born in January 2015, has offices in Antwerp, New York and London. More than 80% of the employees are highly skilled data scientists and software engineers, specialized in machine learning, deep learning and signal processing. As an enabling platform, Sentiance focuses on large innovation driven companies and disruptors, as a partner and collaborator to drive transformational change. Sentiance core purpose is to become the context engine for the Internet of You leveraging our core expertise in behavioural analytics based on observed data by assisting them in building out deeper and more valuable relations with their end-customers. www.sentiance.com

About Volta Ventures
Volta Ventures Arkiv invests in young and ambitious internet and software companies in the Benelux. The fund’s team, with active support from some 30 business angels, expects to make a substantial impact on every company it invests in by working with the founders and management to identify new markets and customers, hire senior talent, provide ongoing guidance and arrange further financing rounds. Volta Ventures Arkiv is supported by ARKimedes-Fund II (an initiative of ParticipatieMaatschappij Vlaanderen NV and the Flemish Region) and the European Investment Fund. www.volta.ventures

About KPN Ventures
KPN Ventures is the venturing arm of KPN, The Netherlands’ leading telecom & ICT company. KPN Ventures aims to build value-creating partnership with innovative technology companies, providing access to capital, expertise, network and customer channels. It focuses on early growth-stage investments in European companies in the segments: Internet of Things, Connected Home, Digital Healthcare, Cyber Security, Mobile/OTT services, Cloud Computing and Data & Analytics. KPN Ventures has its main office in Rotterdam, The Netherlands and has invested in a.o. Actility, EclecticIQ, SecurityMatters, Viloc, Sensara, CardioSecur and Nello.
www.kpnventures.com | twitter.com/kpnventures

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TeleComputing sells consultancy company Kentor to European IT-giant

TeleComputing has made en agreement which means that Sopra Steria acquires IT consultancy company Kentor with 330 employees and business operations in Stockholm, Göteborg and St. Petersburg. Kentor has since 2007 been a company in the TeleComputing group. The agreement means that TeleComputing will cultivate and strengthen the strategic focus on its core business.

Telecomputing

– We see this as a very positive solution for all parties. Kentor, a very strong and reputable consultancy company, will be part of an international enterprise with similar focus, values and business operations. And TeleComputing, a leading Nordic provider of flexible and hybrid cloud services, can cultivate its strategic business development focusing on both existing and new markets, says Terje Mjøs, CEO TeleComputing.

Kentor offers services in digital transformation, system integration, system development and IT-consultancy. The company was founded in 1983 and has since enjoyed a very stable growth with good results. Kentor has been part of the TeleComputing group since 2007.

– There are many advantages with this merger, especially for Kentor as we now will have a more natural home and resources to increase our market share in Sweden. As an added bonus, we gain access to an international market which will be an advantage both to our customers and staff. We have so much in common with Sopra Steria, and we complement each other very well both in business and culture, says Fredrik Arbman, Kentor´s CEO.

This proposed transaction is subject to the usual public conditions that apply. If it is approved, Sopra Steria could consolidate Kentor in its accounts in the 2nd half of 2017.

 

For more information, please contact:
TeleComputing                       Terje Mjøs, CEO                      +47 915 06 570                   www.telecomputing.com             Sopra Steria                            Kjell Rusti, CEO Scandinavia +47 908 26 026                   www.soprasteria.com/en         Kentor                                      Fredrik Arbman, CEO             +46 70 896 50 60               www.kentor.se

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Almi Invest BoneSupport succesful listed

Almi Invest

The medical technology company BoneSupport listed on the Stockholm Stock Exchange, NASDAQ, Stockholm Small Cap, two days before midsummer at a valuation of about 1.4 billion.

Almi Invest is a partner in BoneSupport through Teknoseed which conducted its first investment already in 2007.

BoneSupport develops injectable bone filling material bioceramic Cerament absorbed by the body while stimulating the growth of new bone. Cerament used for example in trauma, fractures caused by osteoporosis, bone infection and to fix screws and implants in bone.

– It is very gratifying to note that BoneSupport completed such a successful listing, says Marcus Skärbäck, investment manager at Almi Invest. With good access to capital and a strong management team and board of directors, the company has good prospects for further expansion.

In connection with the listing took BoneSupport the SEK 500 million from new and existing investors. The money will be used for continued market expansion in Europe and the US and to further clinical studies, including with the aim of getting the product Cerament G approved in the United States.

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EQT VII to invest in global “hidden champion” and medical mobility technology market leader Ottobock

Logo

  • EQT VII to acquire a 20% stake in Germany-based Ottobock, the global market leader in medical mobility solutions ranging from prosthetic and orthotic products to wheelchairs and accompanying services
  • Founded by Otto Bock in 1919, the Company has been an industry innovator and has launched the first completely microprocessor-controlled lower limb prosthesis, among others
  • EQT will support majority owner Professor Hans Georg Näder and the management team on Ottobock’s continued growth trajectory and focus on innovation

The EQT VII Fund (“EQT VII”) has entered in to an agreement to acquire a 20% stake in Ottobock (or “the Company”) from Otto Bock HealthCare GmbH.

Since its foundation in 1919 by Otto Bock, the Company has been a synonym for revolutionizing, innovating and moving forward medical mobility technology. Otto Bock started the first serial production of prosthetic components post World War I. After World War II, the Company introduced the modular solution for upper and lower limb prosthesis. In 1997, Ottobock launched the C-Leg, the world’s first completely microprocessor-controlled lower limb prosthesis solution. Over nearly a century, Ottobock’s products have allowed users to achieve a better quality of life, more mobility and independence. True to this philosophy, Ottobock has actively supported the Paralympic Games since 1988 and has been a partner of the International Paralympic Committee since 2005.

Ottobock is headquartered in Duderstadt, Germany and operates subsidiaries in more than 50 countries with more than 7,000 employees worldwide. In 2016, the Company generated more than EUR 880 million in sales and EQT valued the Company at EUR 3.15 billion.

“I am very pleased to take EQT on board as a partner who shares the values of a family-backed company given its Wallenberg background. EQT also has a track record of sustainable value creation and growth”, says Professor Hans Georg Näder, majority shareholder and grandson of the company founder. “I am convinced that EQT’s experience in developing companies will allow us to continue Ottobock’s success story well beyond the Company’s 100th birthday”, concludes Professor Näder.

“We are impressed by Ottobock’s long heritage of innovation and its ability to define the landscape of mobility solutions in the area of wearable home rehabilitation regarding the growing market of human bionics. Based on EQT’s deep healthcare expertise, and as one of the most active investors in the sector, we will be a strategic partner to Professor Näder, the management and the Company. We look forward to working together and contributing to the continued success of Ottobock”, added Marcus Brennecke, Partner at EQT Partners and Investment Advisor to EQT VII.

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

About Ottobock

Ottobock develops medical technology products and fitting concepts for people with limited mobility in the fields of Prosthetics, Orthotics, Human Mobility (wheelchairs, rehabilitation devices) and MedicalCare. Subsidiaries in over 50 countries offer quality “Made in Germany” worldwide and employ more than 7,000 people. Ottobock has been a family-managed company since its founding in 1919 and has also been supporting the Paralympic Games with its technical know-how since 1988.

More info: www.ottobock.com

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IK Investment Partners to support Pinard Emballages

IK Investment Partners to support Pinard Emballages

IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK VIII Fund has reached an agreement with Thomas and Pierre-Olivier Pinard to acquire a majority stake in the family-owned company Pinard Emballages (“the Company”), a leading producer of high-end plastic bottles. The management team will reinvest alongside the IK VIII Fund and will continue managing and developing the Company.

Founded in 1970, Pinard Emballages specialises in the design, development and manufacturing of high-end plastic bottles mainly for the cosmetics, fragrance and personal care markets. Its product portfolio comprises standard plastic bottles as well as custom bottles tailored to clients’ specific needs. The Company is recognised as a trusted supplier to several French as well as and internationally prestige brands because of its technical know-how, product quality and service level. Managed by brothers Thomas and Pierre-Olivier Pinard, the family business employs approximately 90 people and operates two production facilities and a logistics site close to Oyonnax, in the heart of France’s “plastic valley”.

“Pinard Emballages has demonstrated an outstanding growth track record, benefiting from its technical and operational expertise and from the quality of its staff. We share the common objective to continue the expansion of the Company via organic growth in France and in export markets as well as via selected acquisitions in Europe,” said Dan Soudry, Partner at IK Investment Partners and adviser to the IK VIII Fund.

“We are pleased to partner with IK on this key step of the Company’s development. Their team shares our strategic vision and will be a well-suited partner to support the future growth of the Company in France and abroad,” added Thomas and Pierre-Olivier Pinard, Managers of Pinard Emballages.

Pinard Emballages represents the IK VIII Fund’s fifth investment, following Ellab (Danish manufacturer of thermal validation solutions), Zytoservice (German compounder of pharmaceuticals for patient-individualised infusions), SCHOCK (the world’s leading granite kitchen sink manufacturer) and Colisée (active in the elderly care segment in France).

Financial terms of the transaction are not disclosed. Completion of the transaction is subject to legal and regulatory approvals.

PARTIES INVOLVED

IK Investment Partners: Dan Soudry, Rémi Buttiaux, Thibaut Richard, Guillaume Veber
Commercial advisor: A.T.Kearney (Jerome Souied, Hugo Azerad, Thibault Hollinger)
Financial advisor: Eight Advisory (Pascal Raidron, Katia Wagner, Maxime Guichot Perere)
Legal advisor: Goodwin Procter (Maxence Bloch, Benjamin Garçon, Frederic Guilloux, Bruno Valenti, Marie-Laure Bruneel)

Pinard Emballages: Thomas Pinard, Pierre-Olivier Pinard
Financial advisor: ATFIS (Philippe Guez, Christian Tachon, Edouard Dupuy)
Legal advisor: HPML (Thomas Hermetet, Marina Llobell)

For further questions, please contact:

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

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

About Pinard Emballages
Pinard Emballages is a specialised designer and manufacturer of high-end plastic bottles mainly for the cosmetics, fragrance and personal care markets. It operates 2 production facilities and employs 90 people close to Oyonnax, France. For more information, visit www.pinard-emballages.com

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 100 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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