Tag Archives: Industrie

Porotech launches groundbreaking micro-LED product

IQ Capital

4 November, 2020 – University of Cambridge spin-out Porotech has today announced the launch of its first product based on its breakthrough gallium nitride (GaN) production technique that is set to transform the electronics industry. The company has launched the world’s first commercial native red LED epiwafer for micro-LED applications.

Micro-LED display technology offers a huge improvement on standard display panels due to its optimum brightness, efficiency and image definition, as well as improved lifetime. These benefits are crucial for near-to-eye applications such as augmented reality (AR) and head-mounted displays – a market predicted to be worth tens of billions of dollars over the next five years. They are also key for a range of other applications – from large area displays and TVs to mobile phones and wearable devices such as smartwatches. But, until now, achieving the necessary high-efficiency, ultra-fine-pitch red pixels has proved a challenge.

Traditional red LEDs are largely based on aluminum indium gallium phosphide (AlInGaP) materials. This means they show a drastic efficiency drop as the device size decreases due to their large carrier diffusion lengths and high surface recombination velocity.

Porotech’s unique production process has enabled the creation of a new class of porous GaN semiconductor materials that is redefining what is possible. As a result, the company is now the first to launch a commercially available native red indium gallium nitride (InGaN) LED epiwafer for micro-LED applications.

“Micro-LED displays using GaN-based material technology are widely seen as the only technology that can deliver displays bright and efficient enough to meet the requirements of AR,” said Porotech CEO and co-founder Dr Tongtong Zhu. “With AR glasses expected to one day replace smartphones – or at least reduce our interaction with the devices in our pockets – development of advanced materials to improve performance is crucial.

“Integration of AlInGaP red and indium InGaN green and blue LED displays in a module with micron-scale pixels is extremely challenging as high surface recombination velocities in AlInGaP devices make this material unsuitable for efficient micro-LEDs. Our breakthrough extends the emission range of InGaN LEDs to meet the performance needs of the red display, whilst delivering the ability to scale wafer size required by micro-LED semiconductor display technology.”

GaN is a material poised to make an impact across electronics and optoelectronics – from efficient power transistors and lasers to quantum devices, sensors and solar cells – and the introduction of porous architectures can extend its capability in all these realms. Porotech’s product fits within existing industry standards and processes. The proprietary technology is robust but also flexible enough to be tailored to the needs of different applications. Porotech’s native red InGaN micro-LEDs have a wavelength of 640 nm at 10 A/cm2, and improved performance over conventional AlInGaP and colour-converted red at very small pixels and pitches.

Earlier this year, Porotech secured a £1.5 million seed round investment co-led by Cambridge Enterprise, the commercialisation arm of the University of Cambridge, and IQ Capital Partners, with the additional participation of Martlet Capital and a syndicate of angel investors from Cambridge Angels and Cambridge Capital Group.

ENDS

Notes for editors

Porotech is a gallium nitride (GaN) material technology developer and a spin-out from the Cambridge Centre for Gallium Nitride at the University of Cambridge. The company focuses on the development of high-performance and energy-efficient wide-bandgap compound GaN semiconductors by applying cutting-edge material technologies and solutions to unleash the full potential of GaN to revolutionise the electronics industry. For more information, visit: www.porotech.co.uk

Originally published here.

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CVC Credit Partners supports Sole Source Capital and Dallas Plastics

23 Nov 2020

Supporting Sole Source Capital’s acquisition and long-term growth strategy for the business

CVC Credit Partners is pleased to announce that it has provided a first lien loan to support Sole Source Capital’s acquisition and growth strategy of Dallas Plastics, a leading manufacturer of blown polyethylene film with printing, embossing, and other value-added capabilities for the medical, food, and industrial end markets.

Founded in 1989, Dallas Plastics is a leading independent producer of high-performance specialty films for multi-use flexible packaging. The company has established itself as a high quality, service-oriented manufacturer that utilizes leading edge technology to best serve its customers. The films are made with the finest quality materials and are carefully processed in a controlled manner, so customers consistently experience a superior product. Dallas Plastics has three manufacturing facilities in the United States, making it a strong choice for servicing any customer in North America.

Kevin Pierce, Chief Executive Officer, Dallas Plastics, commented: “CVC Credit’s support, alongside that of our equity backer, will be essential in the years ahead. We are delighted to have enhanced our business with two highly engaged partners and a detailed growth strategy, which will accelerate our development.”

Scott Sussman, Partner, M&A at Sole Source Capital, added: “We greatly value our relationship with the CVC Credit team, how they communicate, and their speed and reliability as a partner. They are a team with deep domain expertise across a wide array of industries. We are very pleased to have secured their support for our growth ambitions at Dallas Plastics.”

Andrew Eversfield, Director of CVC Credit Partners’ U.S. Private Debt business, said: “Serving a robust and growing market with a differentiated offering and established customer base, Dallas Plastics is an attractive prospect for any investor. When adding the experience and multi-faceted growth strategy brought to bear by a well-respected sponsor, the decision to support the business was, for us, a simple one. We are delighted to be able to support the business’ next stage of growth.”

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Gryphon Investors Acquires Iconic Penetrating Lubricants Brand, Kano Laboratories

Gryphon Investors

San Francisco, CA – November 19, 2020 —

 

Gryphon Investors (“Gryphon”), a leading middle-market private equity firm, announced today that it has acquired Kano Laboratories (“Kano” or the “Company”), a market leading producer of iconic, branded penetrating oils and lubricants sold into industrial maintenance, repair, and operations (“MRO”) and consumer markets. Working alongside a team of highly relevant executive advisors, Gryphon intends to build a leading platform in the branded specialty chemicals sector. This represents the first deal closed by Gryphon’s Heritage Fund team, a new small-cap fund offering launched by Gryphon earlier this year. Financial terms for the transaction were not disclosed.

Founded in 1939 and based in Nashville, Tennessee, Kano is the leading producer of industrial strength penetrating oils and lubricants, offering high quality products to some of the world’s leading businesses. With a passionately loyal customer base, the Company’s key Kroil and AeroKroil branded products are trusted by professionals to loosen rusted, corroded, or frozen mechanical parts. The Company serves a large, diversified customer base with broad market exposure, including Fortune 1000 Companies in all 50 states and internationally.

Keith Stimson, Deal Partner and Head of the Heritage Fund Team at Gryphon, said, “Our investment in Kano is a continuation of Gryphon’s successful proactive sector initiatives in both Enthusiast Brands and Specialty Chemicals, and also leverages insights gained from current portfolio company Mechanix Wear and former portfolio company K&N Engineering.” Amanda Kalin, a Deal Principal in Gryphon’s Heritage Fund Group, added, “We’re excited to partner with Kano and its management team as we build on the Company’s strong reputation for efficacy and expand its presence in the market.”

Kano’s management team will be led by newly appointed CEO Sevan Demirdogen, a former Group President in the Polymers and Fluids segment of Illinois Tool Works (ITW). Gryphon Heritage Fund Operating Partner Craig Nikrant said, “Sevan was instrumental in helping us underwrite this acquisition and is uniquely qualified to lead Kano with extensive experience in the Industrial penetrating oils and lubricants space and MRO distribution.” Demirdogen will also serve on the board, along with several executive advisors who have experience within the specialty chemicals and industrial distribution channel sectors, including Mike Irwin, a 23-year veteran and former CFO of WD40, who will serve as Kano’s Executive Chairman.

Mr. Nikrant added, “Kano Labs has built an incredible reputation among professionals as the premium product in the industry. Gryphon’s investment will enable the Company to accelerate organic growth as the team has already identified optimization opportunities to create go-forward value and further position Kano as a market leader.”

Gryphon was advised by legal counsel Kirkland & Ellis, and financial advisor Piper Sandler. Houlihan Lokey served as the exclusive financial advisor to Kano Laboratories, and Bass, Berry & Sims served as legal counsel.

About Kano Laboratories
Founded in 1939 and based in Nashville, Tennessee, Kano is a leading producer of iconic, branded penetrating oils and lubricants in the industrial maintenance, repair, and operations (“MRO”) and consumer markets. Kano has built a passionately loyal customer base around its Kroil and AeroKroil branded products, which are used by professionals to loosen rusted, corroded, or frozen mechanical parts. For more information, visit www.kanolabs.com.

About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $5.0 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.

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Gryphon Makes Strategic Investment in Vessco Holdings

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Gryphon Investors

New Investment Focuses on Water and Wastewater Treatment Systems

San Francisco, CA – November 16, 2020 — 

Gryphon Investors (“Gryphon”), a San Francisco-based middle-market private equity firm, announced today that it has acquired Vessco Holdings (“Vessco” or “the Company”), in partnership with Vessco’s management team, from O2 Investment Partners. Terms of the transaction were not disclosed.

Based in Minneapolis, Minnesota, Vessco has been serving Upper Midwest and Northeast industrial and municipal customers for over 35 years. Vessco is a value-added distributor of process, flow control, pumps, and automation equipment and services to water and wastewater treatment utilities and industrial users. The Company offers a comprehensive product portfolio and provides value–added design, engineering support, and aftermarket parts and services.

Vessco Holdings’ management team, led by CEO Brian DeWolf, will continue to manage the business, and senior management will remain significant owners of the Company. Longtime industry executive Jim McGivern will become Executive Chairman of the Company. A seasoned executive with over 30 years of experience in the water, wastewater, and utility sectors, Mr. McGivern was previously the COO of American Water, CEO of Elster Group and CEO of Sigma Corporation.

“Vessco operates at the nexus of Gryphon’s experience with infrastructure and utility products and value-added distribution businesses. We are very pleased to partner with Brian, a highly talented and visionary leader, and the other members of the management team. Vessco is poised for rapid growth as it capitalizes on its track record, reputation, and know-how to serve its customers,” said Leigh Abramson, Deal Partner and Head of the Industrial Growth Group at Gryphon.

Mr. DeWolf said, “We are delighted to be working with Gryphon through the next stage of our growth. Not only is Gryphon the right cultural fit, but the firm has a history of showing strong support for managers by providing operational and financial resources for both organic growth and acquisitions. We have been impressed with Gryphon’s solid knowledge of our industry and their insightful assessment of how to create efficient, sustainable, and competitive water treatment systems.”

Wes Lucas, the Operating Partner to Gryphon’s Industrial Growth Group, added, “Water and wastewater treatment is a critical part of modern human life, and the industry will continue to experience attractive growth tailwinds from population growth, increasing regulation, and the need to replace aging infrastructure. We look forward to supporting Vessco management during its next phase of growth by leveraging Gryphon’s in-house Operations Resources Group and Human Capital Group to facilitate further investment in the business and its employees.”

Felix Park, Principal at Gryphon, added, “Vessco has built a culture that combines entrepreneurial spirit and local market expertise with a commitment towards OEM suppliers and customers. Given its leading position within a large and growing addressable market, the Company is well-situated for long-term expansion into additional products and services as well as new geographies. In addition to organic growth, we will be focused on acquisitions as an important component of the go-forward growth strategy.”

Gryphon was advised by legal counsel Kirkland & Ellis LLP, and financial advisor Raymond James. Honigman LLP was legal advisor to O2 Investment Partners, and William Blair & Co. was O2’s financial advisor. Vessco management was represented by attorney Peter W. Klein, P.A., of Boca Raton, FL.

About Vessco Holdings
Vessco (www.vesscoholdings.com) Vessco is one of the largest equipment distributors and systems integrators of water and wastewater treatment technology in the United States. Vessco offers its customers an exceptional breadth of products and services with its line card of valued vendors. Vessco provides its products and services in over 18 states throughout the Central U.S., Midwest, Northeast, and Mid-Atlantic regions.

About Gryphon Investors
Based in San Francisco, Gryphon Investors is a leading private equity firm focused on growing and enhancing mid-market companies in partnership with management. The firm has managed over $5 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $100 million to $300 million in portfolio companies with sales ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise. For more information, visit www.gryphoninvestors.com.

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Latour acquires VEGA S.R.L.

Latour logo

2020-11-18 08:30

Investment AB Latour has, through its wholly-owned subsidiary Latour Industries, signed an agreement to acquired VEGA S.R.L. (VEGA) based in the Marche region, Italy. The acquisition is expected to close in January, 2021.

Vega is a leading Italian designer and manufacturer of passenger interface systems and electronic systems for elevators and platform lifts. The company, founded in 2004, is headquartered in Italy with subsidiaries in USA, Brazil, Albania, and China. Net sales amount to over EUR 20 million with strong operating margin and growth. The company has approx. 200 employees in total, of which 45 are employed in R&D.

“I am very happy to welcome VEGA to Latour Industries”, says Björn Lenander, CEO of Latour Industries. “VEGA has a very strong position as independent designer and manufacturer of displays, fixtures, control systems and electronics for both elevators and platform lifts. VEGA has customers in most major markets and a great potential for further growth.”

“VEGA acquisition from Latour represents a landmark moment and a strategic and unique opportunity to create value for our customer. Being part of Latour, we will be enhancing our position in the sector and brings us valuable industrial experience in the next phase of our growth journey”, says Paolo Vitturini, CEO and co-founder of VEGA.

As an effect of the acquisition the net debt (excl. IFRS 16) of the Latour Group is expected to increase compared to the net debt level at the end of September 2020, to around SEK 6.4 billion, all else equal.

Göteborg, 18 November 2020

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Björn Lenander, CEO Latour Industries AB, +46 708 19 47 36
Gustav Samuelsson, Business Development Investment AB Latour, +46 735 52 55 59
Latour Industries consists of a number of operating areas, each with its own business concept and business model. The ambition is to develop independent entities within the business area which can eventually become new business areas within the Latour Group. Latour Industries has an annual turnover of SEK 3 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 69 billion. The wholly-owned industrial operations has an annual turnover of SEK 15 billion.

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3D NV (“3d investors”) announces today that it considers launching a voluntary and conditional public takeover bid for all shares in Zenitel NV

3D Investors

3D NV (“3d investors”) announces today that it considers launching a voluntary and conditional public takeover bid for all shares in Zenitel NV (“Zenitel”) that are not currently held by it, through a subsidiary House of Thor BV. The bid would be made at a price of EUR 22.75 per share and would be paid in cash.

3d investors currently holds 1,584,776 shares in Zenitel, or 47.87% of the total number of shares issued. Therefore, the bid would relate to the remaining 1,726,108 shares or 52.13% of the total number of shares issued.

The bid would be made subject to a number of conditions, including an acceptance threshold of 95% and a material adverse change clause. If successful, the bid would be followed by a simplified squeeze-out bid under the same conditions.

The price of EUR 22.75 per share would hold a premium of 37.9% to the closing stock price as at 13 November 2020, or a premium of 47.8% to the closing stock price as at 13 November 2020 if the premium is calculated on the implied enterprise value, excluding the net cash position as at 30 June 2020. The price would imply a premium of 39.7%, 38.1%, 41.3% and 47.8% on the volume weighted average share stock prices over the past 1, 3, 6 and 12 months, respectively.

Through the bid, 3d investors would offer shareholders the opportunity to immediately sell their shares on terms that 3d investors considers very attractive. Such conditions would be difficult to obtain under other circumstances, given the limited liquidity of the Zenitel share.

3d investors has informed the board of directors of Zenitel about its intentions. Subject to the review by the board of directors of the prospectus, the directors of Zenitel who are not affiliated with 3d investors have unanimously decided to support and recommend the bid. The board of directors have thereafter adopted the same decision with unanimity. A detailed opinion of the board of directors will be set forth in the memory in reply, which will also be attached as an annex to the prospectus.

The bid is supported by reference shareholder De Wilg CommV (12.08%), which has irrevocably committed to tender its shares to the bid.

This notice is merely an expression of an intention and does not constitute formal notification of a voluntary public takeover bid within the meaning of the Royal Decree of 27 April 2007 and the Law of 1 April 2007 on Public Takeover Bids. Whether, when and under which conditions the bid would be made depends on a number of factors, including general market conditions and the further evolution of the financial markets and the assessment of the bid price by an independent expert appointed by the independent directors who will issue a valuation report within the meaning of Article 23 of the Royal Decree of April 27 2007 on Public Takeover Bids.

If 3d investors decides to formally launch the voluntary and conditional public takeover bid, it will submit a file for this purpose with the FSMA (including a draft prospectus). The board of directors of Zenitel will then review that draft prospectus and further explain its position in a memorandum of reply. If 3d investors decides not to proceed with the bid, it will promptly report about this in accordance with the applicable rules.

About 3d investors

3d investors is a family investment company that chooses to support the growth of solid companies, in partnership with entrepreneurs and management. They always start from the core values: entrepreneurship, empathy, integrity, passion and agility.

3d investors is a long-term shareholder in a number of listed groups (KBC, Ackermans & van Haaren, Atenor, Barco and Zenitel), non-listed companies (including Care Cosmetics, Pauwels Consulting, Plastiflex, Studio 100 and 3P) and 3d Real Estate.

More information can be found at www.3d-investors.be

Contact: Frank Donck +32 9 329 72 01

About Zenitel

Zenitel is a global player in the development and commercialisation of intelligent communication solutions where security, guaranteed availability and sound quality are essential. With nearly 120 years of experience, Zenitel has proven to be a reliable and quality provider of broadcast systems, intercom solutions and two-way radio. These systems interface with other security devices, enabling end users and integrators to build a comprehensive and integrated security solution that combines access control, video surveillance, digital messaging and other solutions. Today, Zenitel’s customers include security service providers, companies and organisations active in the transportation and shipping sectors, healthcare institutions and industrial companies.

Zenitel employs approximately 300 people worldwide, is headquartered in Norway and sells its solutions under the Vingtor-Stentofon and Phontech brands.

More information can be found at www.zenitel.com

Disclaimer

This notice is also published in Dutch. If this should create uncertainty, the Dutch version will prevail.

This notice does not constitute a bid to purchase securities of Zenitel nor a solicitation by anyone in any jurisdiction in respect thereof. If a bid to purchase securities of Zenitel through a public takeover bid is proceeded with, such bid will and can only be made on the basis of a prospectus approved by the FSMA. No action has been taken to enable a public takeover bid in any jurisdiction and no such actions will be taken before 3d investors resolves to pursue a public takeover bid. Neither this notice nor any other information in respect of the matters contained herein may be supplied in any jurisdiction where a registration, qualification or any other obligation is in force or would be with regard to the content hereof or thereof. Any failure to comply with these restrictions may constitute a violation of the financial laws and regulations in such jurisdictions. 3d investors and its affiliates explicitly decline any liability for breach of these restrictions by any person.

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KKR Invests in CMC Machinery to Drive Innovation in Sustainable Packaging

KKR

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KKR Invests in CMC Machinery to Drive Innovation in Sustainable Packaging

November 16, 2020

Investment is part of KKR’s Global Impact strategy, helping deliver commercial solutions to significant societal challenges

LONDON–(BUSINESS WIRE)–

Leading global investment firm KKR today announced an investment in CMC Machinery, a manufacturer of automated packaging solutions in Italy. Financial details of the transaction were not disclosed.

Founded in 1980 and headquartered in Città di Castello, CMC Machinery is a premium provider of innovative e-commerce 3D on-demand packaging, using advanced end-of-line technology to improve environmental impact by reducing the consumption of packaging materials. The company is led by the Ponti family and employs a team of approximately 200 based in the Umbria region, specializing in the design and manufacturing of advanced automated packaging solutions for some of the world’s largest retail and logistics companies.

Following KKR’s investment, CMC Machinery will continue to be led by the Ponti family and headquartered in Città di Castello, with Founder Giuseppe Ponti’s sons, Francesco and Lorenzo Ponti, serving as CEO and COO respectively.

The on-demand packaging market has seen strong growth over the past few years in response to the surge in the e-commerce sector as more people around the world shift to purchasing items online, a trend accelerated by the impact of COVID-19. With volumes expected to grow even further, the environmental sustainability of the related activities is a critical area of focus. CMC Machinery’s innovative 3D technology is market-leading, offering sustainability benefits by producing on-demand custom made boxes that fit the product size, resulting in significant reduction of raw material and void filler used.

Giuseppe Ponti, Founder, President and Strategic Business Development Director of CMC Machinery, said: “We are very pleased to have KKR on board as an investor with a shared vision to inspire the future of packaging and e-commerce. With KKR’s support, we are excited to continue on our journey, expanding our operations which will remain firmly rooted in the Umbria region to address an increasingly global market with sustainable packaging solutions.”

Stanislas de Joussineau, Director at KKR and Head of Global Impact in EMEA, said: “CMC Machinery’s market-leading innovation in sustainable packaging aligns well with the objectives of KKR’s mission to invest in companies that are providing solutions to critical challenges. We are excited to have the opportunity to work closely with the Ponti family on this important endeavor to drive innovation and promote sustainability across the global retail sector, particularly at this critical time for the industry as retailers increasingly seek to minimize their impact on the environment.”

Pedro Godinho Ramos, Principal at KKR’s Global Impact team in EMEA, said: “CMC Machinery is recognized as a leader in the sector, a testament to the passion and commitment of the Ponti family and their team, who have seen their factories in Città di Castello grow to supply customers around the world. We look forward to supporting them in scaling even further using KKR’s global platform and resources.”

The investment in CMC Machinery is the fourth in Europe by the KKR Global Impact Fund, following investments in MasterD, the leading vocational training company in Spain, The Citation Group, a leading provider of subscription-based HR and Employment law and Health & Safety services to SMEs in the UK, and Viridor, the UK’s leading recycling and responsible waste management company.

KKR Global Impact is focused on identifying and investing behind opportunities where financial performance and societal impact are intrinsically aligned. Specifically, the Fund is focused on generating risk-adjusted returns by investing in companies that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals (“SDGs”). CMC Machinery’s business directly contributes toward SDG #12 (Responsible Consumption and Production) as their innovative packaging solution fits boxes to product size, enabling their e-commerce clients to use less material inputs, reducing waste.

In Italy, KKR has invested over €2.5bn across private equity, infrastructure and other asset classes, with investments including Selecta, MM and Sirti, employing 17,000 people across its portfolio companies. The firm has a long track record of working with entrepreneurial owners and founder-backed businesses across Europe, supporting these companies with the next stage of their growth ambitions by providing financial and operational expertise as well as access to KKR’s global network and resources.

-ends-

About CMC Machinery

Based in Città di Castello, Italy, CMC Spa is a privately held company that designs, manufactures and supports the most innovative and disruptive technology for the mailing, graphic arts, ecommerce and logistics industry. Founded in 1980, the company has focused on strategies to retain customers becoming their sole supplier for technology, service, parts and professional technical training. CMC has always been on track to timely respond to the ever-changing market requirements with creative design engineering and bespoke solutions. With the ecommerce surge reshaping the parcel industry, today CMC is helping retailers and logistics company to optimise their fulfilment process and deliver sustainable, strong, highly personalised and safe boxes through the much acclaimed and multi award winning CMC 3D right sizing packaging technology. For additional information about CMC please visit CMC’s website at www.cmcmachinery.com

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:
KKR: Italy
Pasquo Cicchini
Community Group
pasquo.cicchini@communitygroup.it

KKR: International
Alastair Elwen / Alice Neave
Finsbury
+44 (0)20 7251 3801
kkr@finsbury.com

Source: KKR

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Folmer Equity Fund II invests in ProMart Oy

Folmer

Folmer Equity Fund II Ky, a fund managed by Folmer Management Oy, makes an investment in ProMart Oy and becomes its majority owner. The previous owners of ProMart will stay with the company as shareholders and employees. The shared goal is to continue strong growth of ProMart, enabling the company to become the leading visionary of its industry.

ProMart Oy, founded in 2009, is specialized in technical wholesale and distribution. ProMart provides a comprehensive product range of tools and supplies, fasteners, protective equipment and chemicals to demanding professionals in industrial and construction sectors. The company utilizes a multichannel service model. ProMart’s headquarters and central warehouse are located in Pirkkala, and it also has stores in Vantaa and Jyväskylä. In addition, the company has operations in Turku, Kuopio, Oulu and Rauma.

In the future, the company targets to gain an even more significant position in the market. ProMart is already known in the industry as a dynamic and innovative company. ProMart’s goal is to further expand its product range and continuously develop its customer experience with a service concept that stands out from the competition. The estimated revenue of the company for the current fiscal year is ca. 22 MEUR, and it currently employs 69 people.

For more information:
Managing Director, Sampo Säily, ProMart Oy, tel. +358 40 095 0332, sampo.saily@promart.fi
Managing Director, Partner Sami Tuominen, Folmer Management Oy, tel. +358 40 708 4905, sami.tuominen@folmer.fi

ProMart Oy is specialized in technical wholesale and distribution with a product range consisting of well-known items that meet the requirements of professionals across industries. Company’s comprehensive product range includes tools and supplies, fasteners, protective equipment and chemicals. www.promart.fi

Folmer Management Oy is a Finnish private equity company investing in Finnish SMEs. Folmer creates value through active development work. Folmer provides companies with support and professional experience – a requirement for success. www.folmer.fi
Folmer Equity Fund II Ky benefits from the support of the European Union under the Equity Facility for Growth established under Regulation (EU) No 1287/2013 of the European Parliament and the Council establishing a Programme for the Competitiveness of Enterprises and small and medium enterprises (COSME) (2014-2020). Businesses can contact selected financial institutions in their country to access EU financing: www.access2finance.eu.

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Quantum Motion appoints Cadence founder and industry expert Prof. Alberto Sangiovanni-Vincentelli as Chair

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Inkef Capital

Quantum Motion is pleased to announce that it has appointed Professor Alberto Sangiovanni-Vincentelli, University of California, Berkeley, as Chair, aligning his significant experience in the electronics design industry with the Company’s commitment to building a scalable and manufacturable quantum processor.

The appointment follows Quantum Motion’s recent oversubscribed £8m fundraise and will support the Company’s strategy of developing a fault-tolerant quantum computing architecture that is compatible with the CMOS manufacturing process.
Prof. Sangiovanni-Vincentelli is a major figure in both commercial and technological developments in the electronics industry and brings significant experience of direct relevance to Quantum Motion and the development of its technology. A founder of both Cadence Design Systems and Synopsys – the two industry leaders in Electronic Design Automation (EDA) – he has also served in many advisory roles, ranging from Intel, HP and ST microelectronics in the semiconductor industry to BMW, General Motors and UTC in systems and has chaired UltraSoc from 2017 until their acquisition by Siemens in June 2020.

Prof. Sangiovanni-Vincentelli replaces outgoing Chair, Dr Manjari Chandran-Ramesh, who steps down having served as Quantum Motion’s Chair since 2018. She remains a director of the Company, representing IP Group on the board. During her tenure, the Company spun out of Oxford and UCL and became the first UK quantum computing hardware company to raise a series A.

Professor Sangiovanni-Vincentelli is a distinguished academic and has been with the Department of Electrical Engineering and Computer Sciences, University of California, Berkeley, since 1976. He has authored over 1000 papers with an h-index of 118 and received numerous academic and industry awards, such as the IEEE/RSE Wolfson James Clerk Maxwell Award recognising his “groundbreaking contributions that have had an exceptional impact on the development of electronics and electrical engineering”. He is also a member of the US National Academy of Engineering and holds honorary doctorates from Aalberg University, Denmark; KTH Stockholm, Sweden and IAG Krakow, Poland.

Prof. Alberto Sangiovanni-Vincentelli said: “It is clear that making perfect systems from noisy components will be the key to realising a useful quantum computer. However, this idea on its own is not enough, execution will be critical. The Quantum Motion team has the competence needed to deliver a scalable silicon architecture but, as importantly, it has the focus to realise it in a manufacturable process.”

Dr Chandran-Ramesh commented: “It has been an absolute pleasure to work with the Quantum Motion team and to help grow the business from start-up to a successful, over-subscribed series A round backed by high-quality investors. I am proud to be handing over to Prof. Sangiovanni-Vincentelli who has exceptional experience in this area and I look forward to working with him and the team as we start the next chapter of this exciting journey.”

Prof. John Morton, founder of Quantum Motion comments: “We would like to thank Dr Chandran-Ramesh for her excellent chairmanship over the past two successful years and are delighted to be welcoming Prof Sangiovanni-Vincentelli on board. He shares our vision for leveraging silicon to produce truly scalable quantum processors and brings unique insights from his experience in building world-leading companies in semiconductor IC design”

Media Enquiries:
Quantum Motion
media@quantummotion.tech
www.quantummotion.tech

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Novacap Portfolio Company, The Master Group acquires Alberta motor distributor Soper’s Supply Ltd.

Novacap

Master diversifies its offerings and obtains expertise in the electric motor sector

November 10th, 2020 – Novacap is pleased to announce that its portfolio company, The Master Group, the most important independent distributor of heating, ventilation, air conditioning and refrigeration products (CVCA-R) in Canada has completed the acquisition of Alberta-based Soper’s Supply Ltd. (“Soper’s”). Soper’s specializes in the sale and distribution of electric motors, fans, blowers, and pumps and is one of Canada’s largest distributors of HVAC-R motors. Soper’s services Western Canada from their branches in Winnipeg, Edmonton, Calgary, Surrey and Vancouver.

Soper’s is recognized for its vast inventory, extensive knowledge, and high level of expertise in the electric motor sector, as well as in the replacement motor field. Soper’s has developed market leading competencies that quickly and efficiently identify replacement equivalents to most motors.  This new partnership represents a fantastic diversification opportunity for The Master Group.

“The acquisition of Soper’s allows us to diversify into electric motors, and to join forces with the most qualified experts in this field across Canada. This association will be a great opportunity to expand our product offering for the benefit of all customers from coast to coast,” explains Louis St-Laurent, CEO, The Master Group. “We are very proud to welcome Soper’s team into the Master family.”

“The Master team has similar values to ours,” said Jim Moroz, President, Soper’s. “As a family business, it was imperative to join a company with the same customer service focus and one that provides a healthy and opportunity-filled work environment to our employees. We are delighted with this transaction, to work within a recognized Canadian company that has assumed leadership in its field for so many years. ”

 

About Novacap

Founded in 1981, Novacap is a leading Canadian private equity firm with CA$3.6 billion of assets under management. Its distinct investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous portfolio companies. With an experienced management team and substantial financial resources, Novacap is well positioned to continue building world-class businesses. Backed by leading global institutional investors, Novacap’s deals typically include leveraged buyouts, management buyouts, add-on acquisitions, IPOs, and privatizations. Over the last 39 years, Novacap has invested in more than 90 companies and completed more than 130 add-on acquisitions. The firm has offices in Brossard, Quebec and Toronto, Ontario. For more information, please visit www.novacap.ca.

 

About The Master Group
A leader in the heating, ventilation, air conditioning, and refrigeration sector for over 68 years, The Master Group has been named one of Canada’s best-managed companies since 2010 and is the largest HVAC/R distributor in Canada. The company now employs over 950 dynamic and devoted individuals who serve the industry at more than 44 branches and 4 distribution centres from British Colombia to the Atlantic Provinces. To learn more, go to master.ca or follow us on LinkedIn at linkedin.com/company/themastergroup.

 

About Soper’s Supply Ltd.

The team of experts at Soper’s has been serving customers in Western Canada since 1968 specializing in the replacement of electric motors and fans. They are a principal supplier and distributor of branded products. Soper’s has business locations in Vancouver, Surrey, Calgary, Winnipeg and head office in Edmonton, Alberta. Over 90% of the products sold by Soper’s are in inventory. Their commitment to customer service has helped make Soper’s the number one supplier of electric motors, blowers, fans, circulation pumps and related products.

 

For further information: Novacap: Alexandra Troubetzkoy, NOVACAP, +1 450-651-5000 ext.291, atroubetzkoy@novacap.ca

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