Tag Archives: Industrie

Andus Group welcomes Gilde Equity Management as shareholder

Gilde Equity

Vianen – Andus Group, an internationally active holding company with 14 leading and independent subsidiaries, spread across Refractories, Steel Structures and Specialties divisions, welcomes Gilde Equity Management (GEM) as shareholder.

For Tom van Rijn, founder and major shareholder of Andus Group, this represents the next step in his business succession. He stepped down from the day-to-day management of the Andus Group in 2018 and has scaled down his responsibilities within it. The current management of Andus Group will stay on and continue its day-to-day management.

Chairman of the Board, Wiebe van den Elshout, is grateful to Tom van Rijn for his huge contribution during the past 25 years and welcomes the current collaboration with Gilde. “Over 100 years of experience underscore the strong position that Andus Group has built up worldwide within the industry. We are a strong, reliable partner for our clients and we work to the highest safety and quality standards. After our success in recent years, Andus Group now finds itself on the cusp of our next growth phase. In Gilde, we have found an ambitious partner that matches our entrepreneurial group culture. Gilde can help us with further investments in the expansion of our services and the acceleration of our international growth ambitions.”

Bas Glas, Partner at Gilde Equity Management says that Gilde is proud to fuel this business succession. “We recognize the strength of the Andus Group, how essential its products and services are to its clients and how well positioned it is to flourish in future. We are looking forward to this collaboration and the further international growth of Andus Group and we have every confidence in the strategy that has been defined.”

About Andus Group

Andus Group is a strong, internationally active holding company with independent subsidiaries in the Netherlands, Belgium, Germany, Slovakia and Sweden. With a workforce of more than 650 employees, these subsidiaries realize a total turnover of approximately € 250 million.

The Andus Group’s subsidiaries are divided across three divisions: Refractories, Steel Structures and Specialties. Within each division, the focus is on the end user in market segments that include: waste-to-energy, wind energy, petrochemicals, civil engineering, offshore oil & gas, the pharmaceutical industry and mechanical engineering. For many years now these subsidiaries have enabled Andus Group to create added value for its clients. This value is added in areas that include engineering, production and installation of high-quality refractory bricks and concrete, bridge-building, locks and complex, heavy steel structures, the manufacture of stainless steel and high-grade alloy process equipment, the design and production of platforms for the offshore industry and the manufacture of high-value industrial castings used in mechanical engineering and the dredging industry.

Refractories

In this division are the companies that operate worldwide in the high-value refractory market. Their activities relate to engineering, the production and delivery of refractory bricks, castables, concrete and service and maintenance work for a wide range of industrial refractory linings, applications and processes. Thanks to the high quality they provide and their reliability of delivery, the position of Refractories companies in the (primary) aluminum, waste-to-energy and petrochemical markets is both renowned and firmly anchored, all over the world. Refractories recently strengthened its position in Scandinavia. In addition to the foundation of Gouda Refractories Nordic AB, it also acquired the Industri-Eldfast AB refractory installation company in Sweden.

Steel Structures

The companies in this division focus on the design, engineering, production and delivery of multidisciplinary steel construction projects for the (petro)chemical and heavy industries, as well as for the energy market, such as transformer platforms for offshore wind energy and oil and gas platforms. In the offshore wind sector, HSM Offshore, one of the companies in this division, is regarded as one of the most progressive platform builders in the world. The first large offshore transformer platforms in the offshore wind energy sector in the Netherlands (Borssele Alpha and Beta from TenneT) were built by HSM Offshore. Companies in the division also build large infrastructure projects, such as steel bridges and lock complexes.

Specialties

This division comprises companies engaged in the provision of industrial castings, such as pump housings for the dredging industry, large castings used in mechanical engineering and special projects for railways and public spaces. They are also active in the design, production and installation of stainless-steel process equipment, beer-tank installations and beer-delivery trucks.

For more information, please visit https://www.andusgroup.com/.

About Gilde Equity Management

Gilde Equity Management (GEM) is an independent private equity firm with €1.5 billion in committed capital. Since its foundation in the mid-1990s, GEM has been a leading investor in medium-sized companies and has helped many of them to realize (international) growth. Examples of GEM investments include: Dunlop, a leading manufacturer of safety boots for industrial applications; Fruityline, a fast-growing producer of freshly squeezed premium fruit and vegetable juices and smoothies; Wasco, a technical wholesaler active in the area of heating, ventilation, air conditioning and sanitary facilities; Actief Interim, one of the biggest independent employment agencies in Benelux and Germany serving the SME sector; Eiffel, a consultancy firm with expertise in Legal, Finance and Process; and Kwantum & Leen Bakker, discount retailers in the Dutch and Belgian home-furnishing and decoration sector.

For more information, please visit https://www.gembenelux.com/.

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SMILE INVEST acquires IGS GEBOJAGEMA, a market leading company in hightech medical moulds

Smile Invest

Smile Invest has become the majority shareholder in IGS GeboJagema alongside management and minority investor Rabo Corporate Investments. This is the fifth investment of Smile Invest in the last 6 months following earlier investments in Climate for Life Holding, 4ITEGO, Effect Photonics and Hospidex. Smile Invest’s portfolio now consists of ten innovative growth companies based in the Benelux that are each leading in their respective markets.

IGS GeboJagema is specialized in the development, manufacturing and validation of high-end, multi-cavity injection moulds for the production of plastic components within the healthcare market. The moulds are used by contract manufacturers and leading pharmaceutical companies for their high-volume production. Examples of end products produced with the moulds are contact lenses, insulin pens and inhalers. The Company employs 120 specialists and is based in Eindhoven, where its state-of-the-art production facilities are located with a global customer footprint.

Peter Mertens, CEO IGS GeboJagema: “This transition comes at the right moment. We are currently working on our entry into the United States, where there are a lot of possibilities for our products which are tailored to the medical sector. The medical sector has a zero tolerance towards risk. We offer high quality, high precision moulds and together with validation services provide a one stop solution. The partnership with Smile Invest offers new possibilities to us driven by their technological knowledge, international experience and network”

Ivo Vincente, Ad Notenboom and Bart Cauberghe, partners at Smile Invest: “IGS is a superb company with a unique positioning in its market. We are impressed by the scalability and high level of automatisation of the factory footprint coupled with the model based product development process. This makes IGS a state-of-the-art mould maker. The innovative character, focus on the medical sector and ambition for further growth of IGS fits perfectly within the portfolio of Smile Invest. We will support IGS with their expansion in the United States, but also with further diversification to other end markets such as medical packaging”

About Smile Invest:

Smile Invest (Smart Money for Innovation Leaders) is a European evergreen investment firm with €350 million assets under management, financed by 40 entrepreneurial families and with a long term focus on innovative growth companies. Smile Invest focuses on companies active in technology, healthcare and digital services. From its offices in Leuven and The Hague the team supports ambitious entrepreneurs and management teams in realising their growth plans.

Contact Smile Invest:

Ivo Vincente, Managing Partner • ivo.vincente@smile-invest.com • +31 622 91 92 32

Ad Notenboom, Partner • ad.notenboom@smile-invest.com • +31 654 28 60 98

Bart Cauberghe, Managing Partner • bart.cauberghe@smile-invest.com • +32 476 33 66 69

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Astorg enters into exclusive negotiations to acquire Corialis from CVC Capital Partners Fund VI

CVC Capital Partners

Corialis’ management will reinvest a significant part of their proceeds alongside Astorg

Astorg is pleased to announce that it has entered in exclusive negotiations to become the new majority shareholder of Corialis, a leading European designer and manufacturer of aluminium systems for windows and doors, from CVC Capital Partners Fund VI. Corialis’ management will reinvest a significant part of their proceeds alongside Astorg.

Founded in 1984 and headquartered in Belgium, Corialis employs c. 2,700 people across eight sites in the UK, Belgium, France, Poland, Portugal, La Reunion, Serbia and South Africa. The company benefits from long-term, secular growth fuelled by the increasing use of aluminium as the eco-friendly material of choice for architectural purposes: unlike competing PVC products, aluminium systems have a longer lifetime and are endlessly recyclable, and thereby help to reduce the environmental footprint of the construction industry. Corialis enjoys leading positions in the countries it operates in as well as best-in-class profitability, underpinned by superior customer service and industrial organisation.

Johan Verstrepen, CEO of Corialis, said: “The entire management team is happy to welcome on board Astorg as our new majority shareholder. From the start, the Astorg team has demonstrated an outstanding understanding of our business and full compatibility with our culture, which are the right fundamentals for a successful partnership. We would also like to express our gratitude to CVC for their support and guidance over the past years.”

François de Mitry, Managing Partner at Astorg, said: “We are teaming up with an exceptional management team, who has built a remarkable company, and has demonstrated its ability to outpace market growth over the past 20 years and through economic cycles. We were also impressed by their passion for sustainable construction products and by their efforts to bring ESG to the fore in the industry.”

Nicolas Marien, Partner at Astorg, added: “We are excited to be part of the next chapter of the company’s adventure, and are fully supportive of the investment program that has been devised by management in order to further develop Corialis’ vertically integrated industrial set up and to broaden its product offering. We are convinced it will further boost growth and increase the gap vis-à-vis its competitors.”

Steven Buyse, a Managing Partner at CVC Capital Partners, commented: “It has been a pleasure working with Corialis’ world-class management team. By investing to develop new high-quality and innovative products, and international expansion into new markets through the creation of a new Iberian hub from the accretive acquisition of Lingote in Portugal, Corialis is now undisputedly the leading designer and manufacturer of aluminium systems for windows and doors in Europe.”

The terms of this transaction, which require workers’ council consultation and are subject to the approval of regulatory authorities, are not disclosed.

Astorg was assisted by Rothschild & Co and Latham & Watkins. CVC was assisted by Goldman Sachs International and Allen & Overy. Management was assisted by Clifford Chance.

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Audax Private Equity Completes the Sale of AI Fire to Snow Phipps Group

-Audax Private Equity (“Audax”) has completed the sale of AI Fire, LLC (“AI Fire” or the “Company”) to Snow Phipps Group (“Snow Phipps”).

Headquartered in Long Beach, CA, AI Fire is a leading fire and life safety provider to both national account customers via a vendor partner network and regional customers through its self-perform district operations. The Company offers a broad range of services including routine inspections, repair services, customized work orders, and system installations. AI Fire serves over 10,000 unique customers across national chains and healthcare, financial, industrial, and other commercial end-markets. The Company operates a network of 20 district offices and two national call centers. Since Audax’ investment in AI Fire in April 2017, the Company has completed 11 acquisitions, adding broader service capabilities, and expanding the self-perform footprint in the Northeast, Texas, and Rocky Mountains.

Mike Lloyd, CEO of AI Fire, said, “Audax has been a valuable partner in helping us grow AI Fire into a leading national provider of fire and life safety services. With Audax’ support, we were able to grow the Company organically and via acquisitions while investing in key talent and systems to support and sustain growth. We look forward to partnering with the Snow Phipps team to continue executing on our growth strategy.”

Jay Mitchell, Managing Director at Audax, said, “We are proud to have partnered with Mike Lloyd and the AI Fire team in creating a leading platform in the national fire and life safety market. The Company expanded its service offering and geographic footprint through organic initiatives and strategic acquisitions while investing in talent and corporate infrastructure. We wish continued success for Mike and the entire team as they embark on their next chapter of growth.”

Terms of the transaction were not disclosed. Kirkland & Ellis LLP and Goulston & Storrs PC served as legal advisors and Lincoln International LLC served as financial advisor to AI Fire.

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EQT Private Equity to sell DESOTEC to Blackstone

eqt
  • EQT Private Equity to sell Belgium-based DESOTEC, a leading European environmental services company and provider of mobile filtration solutions for a broad range of industrial applications through a unique, closed-loop service model
  • DESOTEC has pioneered the market for mobile filters and has achieved strong top-line growth since foundation, which further accelerated under EQT Private Equity’s ownership
  • EQT Private Equity has made substantial investments in DESOTEC’s sales and digitization capabilities, and supported technology- and R&D investments related to its filters and furnaces to enable a more circular service offering

EQT is pleased to announce that the EQT VII fund (“EQT Private Equity”) has entered into an agreement to sell DESOTEC (“the Company”) to private equity funds managed by Blackstone (“Blackstone”).

Based in Roeselare, Belgium, DESOTEC is a leading European environmental services company with a mission to protect the planet through innovative circular filtration solutions, enabling clean water, air, and soil. The Company was founded in 1990 and is focusing on mobile purification solutions mainly based on activated carbon technology.

DESOTEC’s fleet of approximately 2,700 mobile filters is the largest of its kind in Europe and it serves a broad range of industrial applications, including air emission, biogas, remediation, wastewater, and chemicals. The Company’s mobile filters enable its customers to comply with environmental regulations and sustainability requirements, through its closed-loop, “Filtration-as-a-Service” rental solution.

EQT Private Equity acquired DESOTEC in 2017 and has since then made significant investments in its sales and digital capabilities. Moreover, EQT has supported technology- and R&D investments related to DESOTEC’s filters and furnaces to enable a more circular service offering. Today, the Company is a European market leader in its field with an impressive track-record of double-digit organic growth, which was further accelerated under EQT Private Equity’s ownership.

The sale of DESOTEC represents another successful exit for EQT Private Equity in the Benelux and it further cements EQT’s position and momentum in the Benelux market.

Bert Janssens, Partner and Investment Advisor, Head of Benelux and Global Co-Head of the TMT sector team at EQT Partners said, “It has been a privilege to partner with Mario and the ‘DESOTEC Warriors’ team on this successful journey, and to support them in their mission to protect our planet. In the last years, management has executed on an ambitious strategic agenda, which was centered around sales acceleration, digitization, and strengthening the company and circular service proposition. The trajectory under EQT Private Equity’s ownership exemplifies our approach of responsible ownership, focused on investing in companies to accelerate growth. Furthermore, this investment showcases the win-win of investing in companies that provide solutions to societal problems. We are confident that DESOTEC will continue to be successful under its new ownership and we wish the business, management, and all its employees every success in the future.”

Mario Hertegonne, CEO of DESOTEC, said, “Over the past four years we have been on an exciting and transformational journey, supported by EQT who has significantly contributed to helping us transform the business and accelerate growth by making substantial investments. We would like to thank Bert and the EQT team, as well as the DESOTEC supervisory board, for their continued support and we look forward to continuing to develop our business together with Blackstone”.

The transaction is subject to customary conditions and approvals and is expected to close in Q2 2021. The parties have agreed not to disclose the transaction value.

Rothschild & Co acted as financial advisor and Freshfields Bruckhaus Deringer LLP acted as legal advisor to EQT Private Equity and DESOTEC.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 84 billion in raised capital and currently more than EUR 52 billion in assets under management across 17 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About DESOTEC
DESOTEC, founded in 1990, is the leading European provider of mobile filtration technology through a unique and circular service concept, which helps protect the planet by enabling clean water, air, and soil. DESOTEC’s customer base is constantly growing thanks to a strong focus on 24/7 service and a commitment to design and deliver the best solution in close dialogue with the customer. Through in-depth expertise of industrial applications and continuous investment in mobile filters, centralised reactivation capacity and well-positioned European hubs, DESOTEC ensures that the European industry can meet the increasing regulations for a better and cleaner environment.

More info: www.desotec.com

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EQT Private Equity to sell Dorner to Columbus McKinnon for an Enterprise Value of USD 485m

eqt
  • Dorner is a leading global provider of high precision conveyor solutions in the attractive automation industry with a focus on enhancing productivity, safety, cost and waste reduction, and speed to market
  • EQT supported Dorner’s transformation into a preeminent global provider of high precision conveyor solutions through substantial investments in new product development, refocused go-to-market strategies, and acquisition integration

EQT is pleased to announce that EQT Private Equity, through the EQT Mid Market US fund, has agreed to sell Dorner (“the Company”) to Columbus McKinnon Corporation (Nasdaq: CMCO) for an Enterprise Value of USD 485m.

Founded in 1966 and headquartered in Hartland, WI, Dorner is a leading global provider of high precision conveyor solutions for high growth and resilient end markets including e-commerce, life sciences, food & beverage, industrial automation, packaging, and CPG. Dorner supports the quickly evolving automation industry, which is backed by the accelerating adoption of automated solutions. Dorner’s robust product portfolio extends across modular standard and highly engineered solutions along with aftermarket parts and services. Dorner’s proprietary DTools software provides access to its comprehensive solution library and allows customers to design and specify their own customized conveyors. The Company serves a global blue chip customer base with manufacturing facilities in North America, Latin America, Europe, and Asia and has approximately 400 employees worldwide.

With the support of EQT, Dorner continued to grow organically to solidify its position as a leading global industrial technology business. Substantial investments were made to integrate previous acquisitions to create a truly global platform with the ability to provide customers consistent quality and a uniform portfolio of products worldwide. EQT partnered with Dorner’s management team to realign the Company’s go-to-market approach to best serve its extensive customer base. Research and development was also prioritized, resulting in industry leading new product developments in additional end markets, such as life sciences and e-commerce, with many more products in the pipeline.

Kasper Knokgaard, Partner and Investment Advisor at EQT, said: “Dorner operates at the forefront of the automation revolution and is supporting industries undergoing rapid growth and transformation, such as e-commerce and life sciences. The Company exemplifies EQT’s thematic approach to investments within the Industrial Technology sector and is a market leader in the highly attractive automation subsector. We are very thankful to the Dorner management team, led by Terry Schadeberg, for its strategic vision and strong execution, and look forward to following Dorner’s journey with Columbus McKinnon.”

Terry Schadeberg, CEO of Dorner, said: “With the support of EQT, Dorner has strengthened our internal infrastructure, expanded our solutions set and gained share in high growth end markets that will continue to benefit from Dorner’s unique capabilities in the coming years. We thank EQT for its guidance and counsel through the last four years. Columbus McKinnon is an excellent strategic fit for Dorner and we are thrilled to partner with them in this next phase of growth.”

The transaction is subject to customary conditions and approvals and is expected to close in Q2 2021.

Baird and William Blair & Company L.L.C. acted as financial advisors and Weil, Gotshal & Manges LLP acted as legal advisor to EQT Private Equity and Dorner.

Contact
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com
International inquiries: EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a purpose-driven global investment organization with more than EUR 84 billion in raised capital and over EUR 52 billion in assets under management across 17 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Dorner
Founded in 1966 in Hartland, Wisconsin, Dorner is a leader in high-precision, specialty conveyor systems that enhance productivity, quality, reliability, speed, uptime, and end user profitability.  Dorner offers a broad product offering across both modular standard and highly engineered custom conveyor solutions.  With nearly 400 employees, Dorner has deep engineering and technical expertise with facilities in North America, Europe, and Asia.

More info: www.dornerconveyors.com

This release was sent by Cision

https://news.cision.com/eqt/r/eqt-private-equity-to-sell-dorner-to-columbus-mckinnon-for-an-enterprise-value-of-usd-485m,c3298313

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KKR to Acquire Flow Control Group from Bertram Capital

KKR

February 17, 2021

All Employees to Become Owners in Company

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced it has entered into an agreement to acquire Flow Control Group, a leading distributor of mission-critical flow control and industrial automation products, from Bertram Capital.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210217005319/en/

Headquartered in Charlotte, North Carolina, Flow Control Group serves as a trusted, value-added distributor and advisor to more than 10,000 customers and 2,000 suppliers in North America for technical flow control and industrial automation products and related services. Customers rely on Flow Control Group for their engineering expertise, technical support, and service capabilities for high value products including air equipment, pumps, valves, process control, and industrial automation, amongst other product categories.

“Flow Control Group stands out for their proven ability to be a strategic partner and consultative, technical resource for customers’ critical flow control and industrial automation product needs,” said Josh Weisenbeck, KKR Partner who leads KKR’s Industrials investment team. “We are excited to work together with David Patterson and the entire team at Flow Control Group to further expand the company’s reach, while remaining an excellent partner to their OEM suppliers and continuing to be a value-added team member for their customers.”

Since 2011, KKR’s Industrials team has focused on employee engagement as a key driver in building stronger businesses. The strategy’s cornerstone has been to allow all employees to take part in the benefits of ownership by granting them the opportunity to participate in the equity return alongside KKR. Beyond sharing ownership, KKR also supports employee engagement by investing in training across multiple functional areas and by partnering with the workforce to give back to the community.

Pete Stavros, KKR Partner and Co-Head of Americas Private Equity at KKR, said, “For over a decade, we have been developing a new model of employee engagement centered around an all employee ownership strategy, and we look forward to implementing this model at Flow Control Group alongside David Patterson and his team.”

“We are thrilled to have the support of KKR as we continue to grow our reach across the flow control and industrial automation sectors while investing to better serve our customers and supplier partners,” said David Patterson, CEO of Flow Control Group.

“We are fortunate to have had the opportunity to partner with Flow Control Group, under the exceptional leadership of CEO David Patterson, to achieve our shared vision of creating a leading independent player in the industry,” said Kevin Yamashita, Partner at Bertram Capital. “Working closely with the Flow Control Group team, we exceeded our growth plan through strategic add-on acquisitions, organic growth initiatives, the addition of key executive talent, and operational improvement.”

Bertram’s value creation strategy, the Bertram High 5sm, coupled with the firm’s in-house IT team, Bertram Labs, were critical drivers to the rapid growth and platform expansion realized by Flow Control Group during Bertram’s ownership.

R.W. Baird and Hirschler served as advisors to Bertram Capital on the transaction, while Kirkland & Ellis and Deloitte served as advisors to KKR.

KKR is making the investment through its Americas XII Fund. Further terms were not disclosed.

About Flow Control Group

Flow Control Group is a leading solutions provider focused on technically oriented products and services for the flow control, fluid handling and process & industrial automation sectors with locations throughout the U.S. and Canada. As a critical intermediary between over 2,000 suppliers and 10,000 customers, Flow Control Group’s distribution and technical services serve an essential function in the movement of mission critical components to a diverse array of end markets and applications.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Bertram Capital

Bertram Capital is a private equity firm targeting investments in lower middle market companies. Since its inception in 2006, the firm has raised over $1.9B of capital commitments. In addition to supplying strategic growth capital, Bertram Capital leverages proprietary processes and services, Bertram High-5sm and Bertram Labs, to empower its portfolio companies to unlock their full business potential. The Bertram High-5sm is an operationally-focused value creation strategy, which includes management augmentation, operational initiative implementation, complementary business acquisition, sales and marketing improvements, and leveraging technology and IP. The cornerstone of this strategy is Bertram Labs, its in-house technology team, which drives growth and value through digital marketing, e-commerce, big data and analytics, application development, and internal and external platform optimization. Visit www.bcap.com for more information.

Media:
For KKR:
Cara Major or Miles Radcliffe-Trenner
media@kkr.com

For Bertram Capital:
David Hellier
pr@bcap.com

Source: KKR

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IK Investment Partners to sell SCHOCK to Triton

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK VIII Fund has reached an agreement to sell its stake in SCHOCK GmbH (“SCHOCK” or “the Company”) to the Triton Fund V advised by Triton (“Triton”). Financial terms of the transaction are not disclosed.

SCHOCK has a leading global market position in the design and production of premium quality quartz composite kitchen sinks with a diverse customer base consisting of more than 2,000 clients in over 70 countries. The Company is known for its innovative, high-quality products and has a strong focus on sustainability underlined by the recently introduced Green Line, with sinks made up of over 99% natural, renewable or recycled raw materials. Besides the broad offering of kitchen sinks including over 200 models in 40 different colours, SCHOCK also offers faucets, shower trays and related accessories. Based in Regen, Bavaria, the company employs over 500 people and produces exclusively in Germany.

During IK’s ownership, SCHOCK pursued a successful strategy of new client wins, internationalisation and continuous product innovation. Since 2016, the Company has exhibited significant organic growth and more than doubled its operating profit whilst investing significant resources into production capacity expansion, operational efficiency, and product development.

Under the terms of the transaction, IK will be selling its stake to Triton, who will partner with the management team led by Ralf Boberg to develop the company further.

Ralf Boberg, CEO of SCHOCK, said: “We are very grateful to the IK team for their help and support over the last four years. During this time, we have invested in our innovative and sustainable product range, as well as enhanced our brand and reputation in the market for high-quality, durable and stylish sinks. We are looking forward to collaborating with Triton to build on this foundation and continue our trajectory of growth.”

Mirko Jablonsky, Partner at IK and advisor to the IK VIII Fund said: “It has been a real privilege to partner with SCHOCK, a market-leader in an attractive segment of the kitchen industry. The uncompromising focus on quality and undisputed ability to innovate and set new technological standards are the features that enable the Company to attract new customers and expand its product range and market footprint. We wish Ralf and the team every success with their new investors.”

Ruth Linz, Co-Head Consumer at Triton, said: “We are excited to invest in SCHOCK for the next stage of the Company’s development. It is not often that an opportunity arises where we are able to partner with such a strong brand with significant future growth potential, especially in the US and through targeted M&A. We look forward to working with SCHOCK to take it to the next level of growth.”

For further questions, please contact:

IK Investment Partners

Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
jmcfarlane@maitland.co.uk

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €13 billion of capital and invested in over 145 European companies. IK supports 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

About Triton

Since its establishment in 1997, Triton has sponsored nine funds, focusing on businesses in the industrial, business services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth.

The 45 companies currently in Triton’s portfolio have combined sales of around €18.2 billion and around 100,800 employees.

For further information: https://www.triton-partners.com/

About SCHOCK

SCHOCK is the inventor of the manufacturing technology commonly used in the production of quartz composite sinks and has been the worldwide technology and quality leader in this field for over 40 years. The combination of quartz with top-quality acrylic forms a premium compound product that is three times as hard as natural granite and is also superior in terms of many product characteristics to kitchen sinks made from other materials). The SCHOCK range of products comprises sinks for every conceivable kitchen style and taste. Customers in over 70 countries rely on SCHOCK products manufactured exclusively at the company’s headquarters in the Bavarian Forest. For more information, visit www.schock.de/en

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HLD Europe enters exclusive discussions with Ardian to acquire Photonis

Ardian

16 February 2021 Ardian France, Paris

HLD Europe has entered exclusive discussions with Ardian, for the acquisition of Photonis, a leader in the design and production of image intensification tubes and scientific detection systems. Photonis management will reinvest alongside HLD Europe.
The completion of the transaction is subject to the consultation of employee representative bodies and the approval of relevant administrations.

Photonis is a hightech company with 80 years of experience in the design and manufacture of electro-optical components and high-precision sensors. Photonis is particularly well known for manufacturing image intensification tubes for night vision goggles and widely used by international armed forces across the globe. It is a world leader within this field, and the only European player. With a turnover of approximately 150 million euros for 2020 and a workforce of nearly 1,000 employees, Photonis is present in more than 50 countries and has production sites in France, the Netherlands and the United States. With the support of its new shareholder, Photonis will be able to continue its development and growth by continuing its pursuit of technological innovation. and development of new applications both organically and through acquisitions.

Jérôme Cerisier, CEO of Photonis: “I am very happy to start a new stage of development for Photonis alongside our new shareholder. Together, we have the ambition to develop the company into a very high value-added technology provider. We will continue to innovate in order to offer high-end solutions tailored to our customers’ detection and imaging needs but also benefit from a faster access to new customers in the fields of Defense, Industrial Control and Life Sciences. For all the employees who have been working for several years for the renewal of Photonis, it is the culmination of a long process and a new impetus that allows us to live the Passion, the Entrepreneurial Will and the Team spirit, the Trust and the Respect that animate us! I would like to thank Ardian for their support during the past years, and for their support to the development of Photonis Technology. “

Philippe Poletti, CEO of Ardian France and Daniel Setton, Managing Director in the Buyout activity: “We are delighted to have been part of the growth journey and that through Ardian’s support, Photonis has put R&D and industrial excellence at the heart of its strategy, allowing the group to diversify while positioning itself at the forefront of innovation. Today, we are proud of the path we have taken and are certain that Photonis has all the assets to succeed in its new phase of development. We would like to thank Jérôme Cerisier and the team at Photonis for the partnership over the last ten years and wish them all the best.”

Jean-Bernard Lafonta, Founding Partner of HLD Europe and Jean-Hubert Vial, Partner:  “HLD is an investment group that supports the development of high-performing companies without time limitation on its investment horizon. We think that this specificity has been a key factor in the choice of the new shareholder of Photonis: it allows to realize the company’s development plan and keep investing in technology. We are delighted to have the opportunity to support the development project of Photonis led by Jérôme Cerisier and his team. With the entrepreneurial spirit that drives HLD, we are convinced that we will be able to achieve Photonis’ ambitions.”

 

About Photonis

Photonis is a high-tech company with more than 80 years of experience in the innovation, development, manufacturing and sale of equipment in the field of photo detection and imaging. Located in France, the Netherlands, and the United States, the company has a turnover of approximately 150 million euros and employs nearly 1,000 people.
Thanks to its relentless investment in technology, innovation at the core of its DNA, and the work of its specialized teams, Photonis is proud to have the most widely deployed night vision tube among the world armed forces as well as having detectors installed in laboratories in the entire world.
A global leader in night vision, mass spectrographs and space missions, Photonis provides detection and imaging solutions to its customers: power tubes, digital cameras, neutron & gamma detectors, scientific detectors as well as intensifier tubes. Photonis addresses complex issues in demanding environments for critical applications such as defense, surveillance and security, medical, scientific detection and imaging, nuclear, space exploration, industrial control…

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About HLD Europe

Created in 2010, HLD has experienced remarkable growth in the investment capital sector. The investment holding company now has 13 companies in France and Europe with an average growth of 10% (including Tessi, Kiloutou, Coyote, MVG or TSG), representing combined revenue of almost €2.5 billion and 24,000 employees. True to the wishes of its shareholders, which include many European entrepreneurs, including the Decaux, Dentressangle and Claude Bébéar families, HLD invests without any time constraints. This has enabled strong ties to be forged with portfolio company management, and HLD to support the long-term development of companies in Europe and internationally.

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About Ardian

Ardian is a world-leading private investment house with assets of US$110bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 700 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Follow Ardian on Twitter @Ardian

Press contact

DGM Conseil

Thomas de Climens

+33 6 14 50 15 84

Quentin HUA

+33 6 28 63 27 29

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Telematics specialist YellowFox accelerates growth with new partner ECM

Ecm

Telematics specialist YellowFox accelerates growth with new partner ECM

  • YellowFox is one the fastest-growing providers of intelligent telematics solutions. These can be used in all industries, vehicle types and company sizes.
  • The focus is on digital fleet and object management of movable assets including heavy trucks, vans, cars, construction machinery and containers.
  • Around 60,000 vehicles are already equipped with YellowFox’ solutions, ensuring transparency, productivity, cost savings and compliance with applicable regulation.
  • ECM supports the further development of YellowFox as an entrepreneurial partner. Co-founder Hendrik Scherf remains CEO and significantly invested in the company. Together, the partners intend to lead the telematics specialist into the next phase of growth.

German Equity Partners V (‘GEP V’ or the ‘Fund’), a fund managed by independent German investment company ECM Equity Capital Management GmbH (‘ECM’), has invested in the telematics software provider YellowFox GmbH (‘YellowFox’) in the context of a partnership investment. YellowFox offers modular, cloud-based SaaS software solutions for digital fleet and object management that enables substantial increases in productivity and cost efficiency as well as regulatory compliance. The solutions are suitable for all industries, fleet sizes and vehicle types. Co-founder Hendrik Scherf as well as the other shareholders will retain a stake in the company. Together with ECM, Hendrik Scherf and the management team will lead the telematics specialist into the next phase of its development. The parties have agreed not to disclose financial details of the transaction.

The entire telematics world from a single source

YellowFox was founded in 2003 with headquarters in Kesselsdorf near Dresden and employs 70 people today. The company has a broadly diversified customer base across the DACH region and Benelux with around 60,000 active systems operated by both large companies and small businesses. YellowFox serves a wide range of industries – from the transport and logistics sector to industrial service providers, the construction industry, craftsmen and waste disposal providers, as well as rail, bus and taxi companies. YellowFox’ telematics solutions enable simple and efficient generation, analysis and presentation of data as well as communication between the company, employees, fleet vehicles, objects and mobile devices. The high degree of standardisation, cloud architecture, interfaces and modular design allow new customers and additional systems to be connected quickly and without significant implementation efforts.

The company follows a holistic approach – from internal software development and product manufacturing to the operation of data centres in Germany, sales and marketing as well as customer support. This ensures the highest quality, innovative strength, availability as well as customer service and thus a high level of customer satisfaction. Since inception, YellowFox has continuously expanded its solutions portfolio to include innovative features that go beyond traditional telematics. The customer’s entire vehicle fleet and movable asset base can be tracked, evaluated and controlled with just one click. The telematics offering is modular and can be expanded as required to include various functionalities such as tachographic data management, driving style analysis, object management, working time and activity recording, driving licence control, expense accounting, route planning as well as comprehensive fleet and order management solutions.

Expansion of the leading market position in a dynamically growing market

Due to increasingly strict legal regulations throughout Europe with regard to commercial drivers and data management of digital control devices as well as constantly increasing efficiency requirements, the use of telematics is now indispensable for competitive workflow management and cost-efficient operation of fleets and movable assets. The increasing adoption rate of telematics solutions results in strong market growth. YellowFox has firmly established itself as a leading provider and is one of the fastest-growing companies in Europe in this fragmented market. The successful growth is now to receive additional impetus with ECM as an entrepreneurial partner. The focus will be on product innovation and the acquisition of new customers as well as sales partnerships. The growth strategy also includes increasing penetration of sectors and applications where the adoption rate is still comparatively low. Targeted acquisitions to extend the solutions portfolio, also in related software spaces, and expand geographically are to complement organic growth.

With its extensive experience in supporting growth, internationalisation as well as buy-and-build strategies in medium-sized companies ECM will actively contribute to YellowFox’ further development. ECM has already backed various software companies as well as the logistics provider inTime. As such, ECM brings functional and industry-specific know-how as well as a long-standing industry network to its partnership with YellowFox.

Hendrik Scherf, co-founder and CEO of YellowFox, explained: ‘I am proud of the team at YellowFox, whose passion for telematics has helped develop the company into one of the market leaders in the DACH region. We would also like to thank our loyal customers and sales partners, with whom we always work as equals. For the next step in our development, we have now found in ECM an entrepreneurial investor with a great feel for SMEs. Together we want to take YellowFox to the next level.’

Florian Thelenberg, partner at ECM, added: ‘There is already no way around the use of intelligent telematics solutions in many sectors – if only to meet legal requirements and to realise transparency, efficiency and cost benefits. The requirements will continue to increase across all sectors. We see great potential for YellowFox. The areas of application for the telematics solutions are far from exhausted and the growth prospects are therefore exceptionally good. We are very pleased to support Hendrik Scherf and the highly motivated team in further developing YellowFox.’

GEP V was advised on this transaction by Taylor Wessing (legal), Flick Gocke Schaumburg (structuring), Codex (market due diligence), Ebner Stolz (finance and tax), Code & Co (IT) and Willis Towers Watson (insurance). Florian Thelenberg, Axel Eichmeyer, Tim Krume and Christoph Demers are responsible for the transaction at ECM. YellowFox was advised on the transaction by Carl Finance (M&A) and Deloitte Legal (legal and structuring).

About Yellow Fox GmbH (‘Yellow Fox’)

YellowFox, based in Kesselsdorf, develops telematics solutions for a wide range of industries, vehicles and movable assets as well as companies of various sizes. Development, sales and customer support are managed in-house. The company offers a comprehensive, modular and scalable solutions portfolio for digital fleet and object management. YellowFox thus supports its customers in increasing their productivity, cost efficiency, regulatory compliance and digitisation.

Further information at: www.yellowfox.de.

 

On behalf of ECM:

Charles Barker Corporate Communications GmbH
Georg Schattney, Kornelia Spodzieja, Tel.: +49 (0)69 7940 9044
Georg.Schattney@charlesbarker.de, Kornelia.Spodzieja@charlesbarker.de

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