AgTech leader Kind Technologies attracts growth capital from Avedon to further develop its innovative offering. Avedon additionally acquires Gimv’s majority stake in the group.
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Interalu attracts growth capital from Waterland to accelerate its international expansion as a market leader in sustainable climate ceilings.
Interalu, based in Wilrijk (Antwerp), has over the past 50 years gained a leading position in the market for climate ceilings for non-residential buildings. Climate ceilings control the indoor climate with the highest level of comfort by means of heating and cooling radiation. Interalu is a frontrunner within the industry in terms of technology, sustainability and circularity.
Under the leadership of the Schrauwen family, the group has become the market leader in Belgium and Interalu has created compelling momentum in France, Luxembourg and the Netherlands.
With an ambition to accelerate growth and expand internationally, Interalu has engaged Waterland to support the next phase of growth. The execution of their joint growth plans will build on Interalu’s existing unique value proposition, in which the trust relationship with customers as well as innovation and sustainability are central.
Anthony Schrauwen (CEO): “With Waterland we have found a very complementary and experienced partner who can help our family business to realize the next step. Together with the entire Interalu team, I am very much looking forward to working with Waterland and supporting existing and future customers across Europe in meeting their sustainability targets.”
HQ Group has reached an agreement with investment company NPM Capital.
| HQ Group, market leader in the development, production, cleaning and reuse of innovative and high-quality packaging solutions for the high-tech industry, has reached an agreement with investment company NPM Capital to welcome them as new majority shareholder. This transaction enables HQ Group to secure a long-term shareholder base, as well as support for HQ Group’s expansion strategy and international growth. NPM Capital is looking forward to the future collaboration with the current management team. HQ Group is based in Eindhoven and has worldwide activities and production locations, including state-of-the-art cleanroom facilities in Europe, America and Asia. Completion of the proposed transaction is subject to regulatory approval (ACM). |
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Partners Group acquires SureWerx, a leading North American supplier of personal protective equipment, safety gear, and tool solutions
- SureWerx owns 18 well-established brands across 27 product categories
- SureWerx is positioned to benefit from tailwinds in the safety equipment market
- Partners Group aims to transform SureWerx through targeted value creation initiatives that will drive improved product offering, customer engagement, and stakeholder benefits
Partners Group, a leading global private markets firm, has, on behalf of its clients, acquired SureWerx (or “the Company”), a leading supplier of personal protective equipment, safety gear, and tool solutions across North America, from The Riverside Company.
Co-headquartered in Vancouver, BC, and Chicago, IL, SureWerx is a leading supplier of technical safety equipment and safety tools that help improve employee wellbeing, working conditions, and productivity. SureWerx owns 18 well-established safety brands across 27 product categories, including welding safety head protection, safety footwear and traction aids, arc flash apparel, detectable warning equipment, and abrasive and cutting tools. The Company serves diverse end-markets, including infrastructure and utilities, manufacturing, transportation and logistics, and warehousing, where customers typically purchase multiple product categories and regularly replenish stock, generating strong recurring demand. SureWerx has around 350 employees across 12 distribution centers, with the majority of its sales in the US and Canada. SureWerx is positioned to benefit from tailwinds in the safety equipment market, such as increasing regulatory requirements on worker safety, a proliferating culture of safety across industries and geographies, and new use-case scenarios for innovative safety equipment.
Partners Group will work with SureWerx management to build on its leading position in the North American safety market. Key value creation initiatives include making strategic acquisitions of targeted product lines, launching an operational excellence program, expanding the Company’s e-commerce capabilities, and transforming sales and product development processes. Chris Baby, Chief Executive Officer of SureWerx, will continue to lead the Company.
Derek Lim, Managing Director, Private Equity Goods & Products Industry Vertical, Partners Group, says: “SureWerx is a leading technical safety equipment supplier with a stable of strong brand names and a history of successful product innovation for its customers and end-users across multiple distribution channels. Industrial safety has been a thematic focus area of ours for over four years, and we have conviction in SureWerx’s growth potential due to its broad product portfolio, end-market diversification and compelling industry tailwinds. SureWerx’s products play an important role in ensuring worker safety, which fits with our commitment to invest in companies that achieve positive stakeholder impact. We are excited to partner with Chris and the team to execute on our shared value creation growth initiatives.”
Chris Baby, Chief Executive Officer, SureWerx, comments: “Our brands have a long history of high performance and technical superiority, which clearly differentiate them from competitors. At SureWerx, we incorporate input from end-users during our internal product innovation and manufacturing review processes, which allows us to develop unique and tailored solutions. We are now looking to cement our market leading position and institutionalize our vision. Partners Group’s operational expertise and financial resources make the firm an ideal long-term partner to help us achieve our goals.”
Henry Elefter, Member of Management, Private Equity Goods & Products Industry Vertical, Partners Group, adds: “SureWerx is a key player in the safety PPE industry, which is characterized by cycle resilience and growth due to regulations on worker safety. There is an increasing focus on established brands due to the high cost of product failure. The Company offers a compelling value proposition for its distributor partners, including flexible fulfillment, which ensures long-term, sticky customer relationships. We look forward to working with management on our value creation plan that aims to further build the business on its foundation of success.”
Latham and Watkins represented Partners Group on the transaction.
CapMan Special Situations invests in Aro Systems
CapMan Special Situations press release
23 December 2022 at 09:15 EET
CapMan Special Situations invests in Aro Systems
CapMan Special Situations invests in Aro Systems, a building technology services contractor. The objective is to develop the company as a frontrunner for energy efficient solutions in new development and renovations.
Aro Systems is one of the leading electrical and HVAC project service contractors and technical building service and maintenance providers in Finland. Founded in 1954, the company has successfully expanded under Aro family ownership. Aro Systems employs close to 350 professionals in the field of building technology in the Helsinki metropolitan area as well as in the Tampere and Oulu regions. In addition to installation services for demanding projects, the company delivers solutions that improve energy efficiency.
CapMan Special Situations fund becomes the majority owner in Aro Systems following this arrangement, while Aro Yhtiöt maintains significant ownership. In conjunction, a new Board of Directors will be established with Panu Routila, advisor for the CapMan Special Situations fund, to step up as Chairperson of the Board. Mika Huovinen will continue as the company’s CEO.
“The building technology market is growing and undergoing rapid transition. Aro Systems is well-positioned as a sustainable service provider and one of the frontrunners in energy efficient solutions. This transaction enables the acceleration in growth of the company’s maintenance service business as well as further development of contracting service processes,” says Antti Uusitalo, Partner at CapMan Special Situations.
“The involvement of CapMan supports our company’s profitable growth and development and is excellent news for our customers, employees and the business overall. Customer focus, service quality and an entrepreneurial spirit have guided us for almost 70 years. In the past few years, we have undertaken a rigorous renewal of the company. Together with the expertise provided by CapMan, we can accelerate the company’s profitable growth and improve its competitiveness,” says Paavo Aro, the Chairperson of Aro Yhtiöt.
The investment in Aro Systems is the fourth of the CapMan Special Situations fund.
The completion of this transaction is subject to approval by the Finnish Competition and Consumer Authority.
For more information, please contact:
Antti Uusitalo, Partner, CapMan Special Situations, +358 40 020 2663
About CapMan Special Situations
CapMan Special Situations pursues event-driven investment situations by providing flexible capital solutions and strong operational capability to deliver step-change performance improvements.
CapMan Special Situations is part of CapMan Group, a leading Nordic private asset expert with an active approach to value creation and approx. €5 billion in assets under management. Our objective is to pro,vide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com
Aro Systems
Aro Systems Oy is one of the leading providers of building technology expertise and services with close to 70 years of experience. Together with close to 350 professionals, the company is building a better environment for living and working. The company’s services encompass the entire life cycle of properties and building technology services in new construction and renovation projects. The company is established in the Helsinki metropolitan area as well as the Tampere and Oulu regions.
Segulah creates SELATEK – a challenger within security solutions, electrical installation and automation
In November 2021, Segulah acquired a majority stake in Levinsgruppen, a leading regional provider of electrical installation, climate control systems and turnkey industrial automation services, to support the company in its next growth phase. Since then, eight acquisitions have been completed tripling the Group’s combined revenues to around SEK 750m and expanding geographical presence to the attractive greater Stockholm region.
To address the market’s increased demand for qualified services within security solutions, electrical installation, and automation, SELATEK has been created with the ambition to take larger contracts with a focus on sustainability and technology. Through organic growth initiatives in a structurally growing market, continued acquisitions and synergies between the companies, the Group is expected to grow significantly during the next couple of years. The companies within the SELATEK Group will operate under their locally anchored and unique brands, with the previous owners and key employees remaining in their respective operational roles. The strategy is to drive Group initiatives and, with a focus on sustainability and technology, offer the market specialist competence within the technology areas security solutions, electrical installation and automation.
“SELATEK’s strategy is built on that locally strong companies with a unique brand will continue to develop with support from the Group and its subsidiaries. By taking pole position in the rapidly evolving technological development within our focus areas we will offer our customers unique expertise and high-quality deliveries. Energy efficiency solutions, power transmission and charging infrastructure are areas where SELATEK already today makes a difference.” says Magnus Löfgren, CEO of SELATEK.
For further information, please visit www.selatek.se, www.segulah.com or contact:
Magnus Löfgren Marcus Planting-Bergloo
CEO, SELATEK CEO, Segulah VI Advisor AB
+46 702 09 66 14 +46 702 29 11 85
magnus.lofgren@selatek.se planting@segulah.se
3d investors becomes majority shareholder of in-lite, Dutch market leader in outdoor lighting
Along with founder and CEO Jürgen van Dijk and the in-lite management team, 3d investors is going to help in-lite to grow further internationally in the coming years by taking a majority shareholding in the business. The management team will remain operationally active and financially connected to the company. Thanks to this investment, in-lite can take the next big steps in realising its international growth ambitions and strengthening its market position in the US and Canada. With this shareholding, 3d investors is further strengthening its position in the Dutch market.
in-lite, based in Gorinchem, designs, produces and sells cutting-edge, low-voltage outdoor lighting. It focuses primarily on mid-range and high-end gardens, for which the lighting can be bought and installed through garden professionals. in-lite lighting is used in a number of luxury projects including Kontiki Beach Resort Curaçao and Hotel & Spa du Castellet, various acclaimed restaurants in the Netherlands and abroad, and the most exclusive private gardens. The company is the Dutch market leader in its segment, exports to Belgium, Germany and Scandinavia, and has built up strong market positioning in the United States and Canada. Outdoor lighting is a growth market, with a growth rate forecast of 5 to 10% per year.
Rapid growth thanks to focus and continuous development and innovation
in-lite was established in 1999 and has grown rapidly in a short space of time, thanks to its continuous investment in the design and development of new products. What is unique about in-lite’s products is that they work on a low voltage. This makes them modular, safe for people and animals, and easy for any garden professional to install.
Jürgen van Dijk, founder and CEO of in-lite: “With this investment from 3d investors, we can strengthen our capital and further grow in-lite internationally. Our ambition is to become the number-one brand in outdoor lighting in Western Europe and North America. At in-lite, we believe that every garden should be beautifully lit, as that is what really creates the magic. Thanks to the expertise of 3d investors, we will get on board experienced “business builders” and entrepreneurs. They will help us build on our current foundations and accelerate our growth. I am also delighted that, in conjunction with my team and 3d investors, I can keep building our wonderful company over the coming years.”
De Tijd: “The Netherlands: takeover country of choice for Belgian businesses”
In recent years there has been a clear upwards trend in Belgian businesses investing in and taking over Dutch firms. The Netherlands is the takeover country of choice for Belgian businesses according to a recent headline in Belgian newspaper De Tijd. This is the third Dutch business that 3d investors has invested in, thereby confirming its ambitions in the Dutch market.
Hans Swinnen, Partner at 3d investors: “After Care Cosmetics and DSIT, in-lite is the third Dutch company that we are currently investing in. This investment complements our participation in Jati & Kebon, a leading outdoor furniture manufacturer. Through these two companies, we cover a great deal of the outdoor lighting and furniture market. The customer-orientation, focus and entrepreneurship of Jürgen van Dijk and his team played an important role in our decision, and perfectly match with the entrepreneurial, family-business values of 3d investors. The partnership with in-lite seamlessly aligns with our passion to grow strong businesses to the next level internationally.”
HEXPOL’s acquisition of the shares in McCann Plastics, an American specialist in thermoplastic compounding, is completed
HEXPOL has completed the previously announced acquisition of the shares in McCann Plastics LLC from the McCann family. The company is specialized in niche thermoplastic compounds, with special focus on roto molding applications.
The acquisition is fully in line with HEXPOL’s M&A strategy of acquisitions within polymer compounds. Furthermore, the acquisition complements our current operations in the US and strengthens our market position.
“The acquisition of McCann is fully in line with our growth strategy with acquisitions within polymer compounds and strengthens our market position in the US. We welcome all employees of McCann to the HEXPOL Group”
Georg Brunstam, CEO HEXPOL Group
“I am convinced that McCann Plastics with HEXPOL as owner will become even stronger. It will give the company and the employees more resources to grow with new markets and customers while at the same time, improve the production efficiency even further”
Michael McCann
During the last few years, McCann has invested substantially in capacity and technology to enable the company’s further growth and to meet the increased demand of its products.
“McCann has a strong position within its market niche that complements and widens our customer offer. The company is well invested with high competence in specialized thermoplastic compounds. We are looking forward to continued growth with McCann being part of HEXPOL”
Jan Wikström, President HEXPOL Thermoplastic Compounding
McCann has during the last 12 months delivered sales of some 72 MUSD with a profitability level just below that of the HEXPOL Group. McCann has operations in two locations in Ohio, USA with some 100 employees in total. The main end customer segments are general industry, agriculture and the fast growth segment of specialized cooling boxes.
The acquisition price amounts to 120 MUSD on a cash and debt free basis and is funded by a combination of cash and existing bank facilities. All regulatory approvals and contractual terms for the transaction have been met and the acquisition has been completed. The business will be consolidated from 1 December.
For more information, please contact:
Peter Rosén, Deputy CEO and CFO
+46 (0)40 25 46 60
HEXPOL is a world-leading polymers group with strong global positions in advanced polymer compounds (Compounding), gaskets for plate heat exchangers (Gaskets), and plastic and rubber materials for truck and castor wheel applications (Wheels). Customers are primarily systems suppliers to the global automotive and engineering industry, construction industry, the energy, oil and gas sector, medical equipment manufacturers and OEM manufacturers of plate heat exchangers and forklifts. The Group is organised in two business areas, HEXPOL Compounding and HEXPOL Engineered Products. The HEXPOL Group’s sales in 2021 amounted to 16,005 MSEK. The HEXPOL Group has approximately 5,100 employees in fourteen countries. Further information is available at www.hexpol.com.
This report has been prepared both in Swedish and English. In case of any divergence in the content of the two versions, the Swedish version shall have precedence.
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Ratos company HL Display acquires Allied POS
2022-12-02
HL Display is acquiring Allied POS, a leading provider of Point of Sale (POS) solutions in Ireland. With the acquisition, HL Display consolidates its market position, and it will expand HL’s footprint and route to market in Ireland and further strengthen its position as the leading supplier for in-store merchandising and communication solutions to grocery retailers in Europe.
Established in 2004, Allied POS is based in Dublin, Ireland and has annual sales of €2m. Since its founding, Allied POS has catered to a wide range of customers within grocery retail, pharmacies, and shopfitters, building on vast knowledge of the retail environment and strong service credentials.
“It is pleasing that HL Display continues its European expansion. This acquisition is fully in line with Ratos’ acquisition strategy, where add-on acquisitions in existing companies are an important part. We welcome the new company into the family and look forward to HL Display’s continued growth journey”, says Anders Slettengren, Chairman of the Board at HL Display and Executive Vice President, Ratos.
“With its strong footprint in the Irish market, its customer base and product offer, Allied POS is a great fit for HL”, says Björn Borgman, CEO of HL Display. “This acquisition will help us to gain broader distribution in the dynamic grocery and convenience markets in Ireland and strengthen our position as the leading supplier for in-store merchandising and communication solutions across Europe. I believe together we are creating an even stronger offer for Irish retailers, and I am delighted to welcome Allied POS to HL.”
About HL Display
HL is a global leader in in-store merchandising and communication solutions, helping customers to create a better shopping experience around the world. Founded in 1954, HL today is present in more than 70 countries and solutions can be found in 295,000 stores. The HL Display Group has its headquarters in Stockholm, Sweden and sales companies covering 26 markets as well as distributor partners covering the remaining markets globally. The five production facilities are located in Sweden, Poland, the UK and China. HL Display has 1,100 employees and net sales of 1,700 MSEK.
http://www.hl-display.com
For further questions, please contact:
Anders Slettengren, Chairman of the Board, HL Display and Executive Vice President, Ratos
+46 72 589 89 00
Josefine Uppling, VP Communication, Ratos
+46 76 114 54 21
Björn Borgman, CEO, HL Display
+46 72 264 17 90
About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2021, the companies have approximately SEK 28 billion in net sales. Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.
Argos Wityu to acquire IJssel Technologie
The common objective is to reinforce IJssel Technologie’s robust market position in accelerating commercial developments, boosting innovation, contributing to the energy transition, and deploying a clear M&A strategy.
Argos Wityu has reached an agreement with the shareholders of IJssel Technologie to become majority shareholder of the Dutch industrial maintenance services provider. Wadinko will remain as a minority shareholder alongside Argos Wityu. This acquisition marks Argos Wityu’s fifth investment by its MidMarket fund VIII.
Founded in 1992 from the process engineering department of Scania in Zwolle, Ijssel has been supported by the current shareholders since 2004. The business is active in (predictive) maintenance and optimization for industrial production and process industries. With its high reputation and its loyal workforce of over 400 employees, IJssel provides skilled services to clients active in basic materials, chemicals, food & beverages and transport. The company is known as a specialized maintenance provider with a high degree of technical knowledge, a customer-centric approach, and a brand strongly recognized in the Dutch industrial maintenance market. In 2021, the company’s revenues were €59m.
The current shareholders are enthusiastic about this next step for the company and its employees. Argos Wityu was selected as partner for their understanding of the business, core skillsets in growth and operational excellence, and track record in successful (international) buy & build programs. Wadinko, a provincial fund focused on employment in the region, will remain as a minority shareholder alongside Argos Wityu.
IJssel will continue to provide its high-quality services and support its clients in the best manner.
The transaction is subject to conditions and approvals including but not limited to the Works Council and the Dutch market authorities.
Richard Reis, Partner at Argos Wityu said “Argos Wityu is proud to have been chosen by the historical shareholders of IJssel and glad to build this new partnership with this very successful Dutch company. We will strive to preserve the group’s DNA, develop its market-leader identity and structure its growth.”
Han Leemhuis, Investment Manager at Wadinko added: “We look forward to continue as shareholder alongside with Argos Wityu and unroll all the opportunities included in the business plan.”
Argos Wityu team: Gilles Mougenot, Richard Reis, Roel van Ark, Skyler van Wezel
Buyer advisors
Corporate Finance/M&A – Deloitte (Onno Vos, Jeroen van Leeuwen, Jeffrey Riesmeijer, Guy Valette)
Strategy & Commercial – Deloitte VCS (Karin de Sousa Nobre, Walter Lutz, Jig Sevinga)
Financial – PwC (Cornelis Smaal, Khayyam Butt, Nick de Leeuw)
Legal – Houthoff (Bram Caudri, Ivar Brouwer, Jeanne Beck, Sylvia Dikmans, Diede van der Voort)
Pension – HVG Law (Nicolette Opdam, Roderick Buijs, Inge Renes)
Tax – PwC (Bart Weijers, Joey Schellingerhout)
Insurance – Aon (Ingrid van Bussel, Richard Stemerdink)
ESG – Tauw (Hans Nieuwenhuis, Julian Stempher, Nick Distelbrink)
Seller advisors
Corporate Finance/M&A – Oaklins (Arjen Kostelijk, Martijn de Win, Ruben Knooren, Baran Temur)
Strategy & Commerical – Roland Berger (David van der Does, Maarten Roelofsma, Bart Woltjes
Financial – Accuracy (Leontine Koens-Betz, Barry van der Vliet)
Legal – Loyens&Loeff (Herman Kaemingk, Eline de Ruijter, Frank Bambacht, Sandrine Lekkerkerker)
Argos Wityu
Coralie Cornet
Director of Communications
ccc@argos.fund
+33 1 53 67 20 63
Wadinko
Han Leemhuis
h.leemhuis@wadinko.nl
+31 6 51 84 55 81
About Argos Wityu / www.argos.wityu.fund
One firm, two strategies. Argos Wityu is an independent European private-equity group that supports the growth of mid-sized business and back their management teams.
With more than €1.4bn assets under management, over 30 years of experience and more than 90 businesses assisted, Argos Wityu operates from offices in Brussels, Frankfurt, Geneva, Luxembourg, Milan, and Paris. The group seeks to acquire majority stakes and invests between €10m and €100m in each investment of its two strategies:
- The MidMarket fund helps companies implement ownership transitions to accelerate growth
- The Climate Action fund aims at shaping European sustainable leaders by making their ‘grey-to-green’ transition.
About IJssel Technologie / www.ijssel.com
IJssel is a leading Dutch provider of engineering, installation, (predictive) maintenance and (production) optimization services for industrial customers and is involved in a significant part of the industrial services value chain. Via over 400 employees it offers its services via 7 locations in the Netherlands, both as professional service provider and outsourced technical department.
About Wadinko / www.wadinko.nl
Wadinko is a private equity company with social impact and an entrepreneurial approach. Wadinko offers risk capital, management support, and shares its knowledge and networks. In addition, Wadinko has adopted a social commitment to stimulate healthy local commercial activity and employment in the Dutch regions of Overijssel, the Noordoostpolder and south-west Drenthe. This manifests itself in substantial minority interests, realistic return requirements, and a focus on the continuity of shareholdings. As of 2022, Wadinko has holdings in 26 companies, employing 4,250 people.