2019-02-01 07:33 GMT+01

IK Investment Partners (”IK”), a leading Pan-European private equity firm, is pleased to announce the signing of a sale and purchase agreement with the Groupe NetCo (”NetCo”), a specialist of preventive and curative maintenance of belt and roller conveyors. NetCo will be the fifth acquisition in IK’s Small Cap II Fund, which targets growing businesses within the Benelux, DACH, France, and the Nordics.  Financial terms of the transaction are not disclosed.

Founded in 1902 in France, NetCo has grown to become a European specialist in conveyor systems across key industries including quarries, food and heavy goods.

Through its three business units; NetCo Services, NetCo Distribution, NetCo Systems, NetCo holds a leading position on the maintenance of conveyor markets for both services and distribution, and has become a strategic partner for customers by supporting critical parts of their industrial processes. NetCo is headquartered in Bordeaux and operates 55 agencies with 500 employees across France. The business has a further presence across Belgium  and Luxembourg, and a foothold in North Africa (Morocco), the Middle East (Bahrain) and South East Asia (Indonesia).

To meet ever-growing European demand of outsourced maintenance services and initiate their international expansion, NetCo managers (Samuel and James Perriez) partnered with WINCH Capital 3, a fund managed by Andera Partners, through a primary growth capital transaction at the end of 2016. NetCo adopted a strong acquisitive strategy, most recently acquiring ABM TECNA, a Belgium conveyor system specialist in 2017. The company has completed 32 transactions since 2000, 14 of which in the past three years. This partnership enabled the group to double its size within two years.

Pierre Gallix, Partner at IK, said:

“We are delighted to partner with NetCo, business with a diverse and competitive product offering and a phenomenal legacy which spans more than a century. We are especially impressed with the company’s track record of integrating bolt-on businesses and the breadth of its longstanding management team. We look forward to working with them to help NetCo become the number one player in the European conveyor belt service market.”

Arnaud Bosc, Partner at IK, added:

“NetCo’s multi-brand offering and high-quality solutions have contributed to the company’s outstanding reputation across multiple industries. We are delighted to work with NetCo and look forward to supporting the business as it continues to expand its global presence.”

Samuel Perriez, President of NetCo commented:

“Thanks to the support of Andera Partners, the company has been able to achieve remarkable growth in France and in Belgium over the last three years. IK’s support of NetCo paves the way for new international ambitions”

James Perriez, CEO of NetCo added:

“We are excited to be partnering with IK as we enter the next stage of our growth strategy. IK’s track record of investing in industrials paired with their strong European roots make them the perfect partner to help our business expand its presence while staying true to our local roots.”

François-Xavier Mauron and Antoine Le Bourgeois, Partners at Andera Partners, concluded:

“The change of scale of NetCo from a leading French player to a pan-European champion over only two years illustrates perfectly the DNA of the WINCH Capital team as a hands-on investor and partner to management. We are excited to welcome IK and further accompany Samuel and James Perriez for the next cycle of growth of NetCo.”

The closing of the transaction is conditioned to the approval by the French Antitrust authorities.

For further questions, please contact:

IK Investment Partners
Pierre Gallix, Partner
Phone: +33 1 44 43 06 60

Arnaud Bosc, Partner
Phone: +33 1 44 43 06 60

Mikaela Murekian
Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.murekian@ikinvest.com

Andera Partners

Nicolas Delsert
Director Communication
Phone: +33 1 85 73 52 88

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9.5 billion of capital and invested in over 120 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About Andera Partners
Created in 2001 as part of the Edmond de Rothschild Group and wholly owned by its employees since March 2018, Andera Partners is a leading investor in private companies in France and internationally. It manages €2.3 billion in investments in life sciences (BioDiscovery), growth capital and buyout capital (Winch Capital in mid-cap and Cabestan Capital in small-cap) and sponsorless mezzanine debt (ActoMezz). www.anderapartners.com

Lyon, Tuesday, January 15, 2019 – EVOLEM acquires a majority stake in the steel and textile temporary structures specialist called LAURALU.

Located in Saverdun (Ariège) and created in 1998, LAURALU supplies high quality space solutions to logistics operators and industries (SMEs, retailers and institutional and public authorities). Olivier Hohn, Spaciotempo’s (GL Event business unit) former director, took over the company in 2014 with a view to initiate a radical change of the business model from sale to rental, but also to grow internationally through the opening of subsidiaries in United Kingdom and Spain.

LAURALU has established itself as a major player in the manufacturing and leasing of metal and textile structures with a turnover of more than 12 M€ in 2018. The rental offer appears today as an obvious solution for companies’ modular and flexible needs.
With this deal Olivier Hohn wanted to back-up the company with a financial shareholder able to provide long-term support to drive future growth of the company and on which he could rely in order to realise buy and build operations, both in France and abroad.
« The entrepreneurial nature of the Family Office Evolem, the personality of the management team and its clearly expressed desire for external growth have totally convinced me of this choice despite strong interest of other French and international funds.
This operation should help the team build a major European player. »,
explain Olivier Hohn.
« Since the acquisition of LAURALU by Olivier Hohn in 2014, the Company has seen its turnover more than triple with a radical change of its business model offering better visibility on its activity. Olivier Hohn’s experience in this market, his international profile as well as various expansion opportunities have convinced us.»,
testifies Sandrine Escaleira.

Intervenants de l’opération
Buyers : EVOLEM (François NOIR, Sandrine ESCALEIRA, Victor d’HEROUVILLE), SOFILARO (Christophe ROMEYER), Pierre ASSEO, MANAGERS, AUTRES
Legal advisors (buy-side) : ALCYA CONSEIL (Laurent SIMON, Sabine PRADES, Marion MENU)
Legal, social and fiscal due diligence : ALCYA CONSEIL (Laurent SIMON, Sabine PRADES, Marion MENU), CUATRE CASAS (Helene BAUS), STEVENS BOLTON (Nick ATKINS)
Financial Due Diligence : EIGHT ADVISORY (Xavier MESGUICH, Bilel DJEMMALI)
Senior debt : CREDIT AGRICOLE SUD MEDITERRANEE (Sebastien EPALZA, Didier HOCHET), CREDIT AGRICOLE TOULOUSE (Eric ESPIE, Franck ARMANDET, Philippe CHAMOULAUD)
Legal advisor (debt) : PACT AVOCATS (Benjamin DAHAN)
Sellers : MANAGERS, Pierre ASSEO
Legal advisor (vendor) : ALTIJ (Patrick NADRAULT)
M&A advisor (vendor): CAMBON PARTNERS (Guillaume TEBOUL, Philippe BACKES)

About Evolem
Evolem, is a French family office, created and 100% owned by an entrepreneur: Bruno ROUSSET (founder of April group). Evolem’s investment approach is based on a long term strategic vision shared with the management, and no exit horizon in order to accompany the development of leading players in specific sectors.
In the context of majority transactions, Evolem invests in companies with sales between 10 M€ and 80 M€ and operating in niche markets, with the objective of growing small to intermediate size (100 M€ to 150 M€ in sales) through organic and external growth and increased international reach.
Having completed 44 add-ons operations including 11 abroad, Evolem has a solid experience in carrying out such transactions for its platforms, in the identification of potential targets, approach, negotiations and execution.

More information on : https://www.evolem.com/

Press contact :
Peggy DESOUTTER
peggy.desoutter@evolem.com
+33 (0)4 72 68 98 00
+33 (0)6 88 23 15 63

Investment AB Latour (publ) has, through its subsidiary Aritco Group, acquired TKS Heis AS based in NÆRBØ, Norway. Closing will take place on 31 January, 2019.

TKS Heis is a leading Norwegian manufacturer and installer of platform lifts and installer of passenger lifts. The company was founded in 1997 and has built a business with development and manufacturing at the head office in NÆRBØ and a sales, installation and aftermarket organization that serves the majority of the Norwegian market. Sales for 2018 amounted to NOK 155 million and the company has 74 employees.

The acquisition of TKS Heis complements Aritco’s product portfolio and strengthens its offering to existing distribution networks. In addition, the acquisition strengthens an already strong position in the Norwegian market.

“TKS Heis has been a reseller of Aritco’s products in Norway since 1997 and I am very pleased to have Latour and Aritco as a new owner. I am convinced that Aritco as a long-term and industrial owner with a customer base in a large number of markets will constitute an excellent foundation for continued growth for TKS Heis and our products in and outside Norway”, Says Tønnes Helge Kverneland, CEO of T. Kverneland & Sønner AS.

“We have had a close partnership with TKS Heis since 1997 and we have come to know TKS as a very professional player, the acquisition secures this relationship for the future. TKS gives us access to a product that complements our existing range in an excellent way. In addition, TKS Heis adds great experience and expertise in the aftermarket field, which will help us in our development of aftermarket products and services” says Martin Idbrant, CEO of Aritco Group.

Göteborg, 11 January, 2019

INVESTMENT AB LATOUR (PUBL)
Jan Svensson President and CEO

For further information, please contact:
Martin Idbrant, VD Aritco group AB, 0727 15 36 52
Gustav Samuelsson, affärsutveckling Investment AB Latour, 0735 52 55 59

Aritco Group is a globally leading manufacturer of platform lifts for one-family houses and accessibility adaptation of public/commercial buildings. Sales go through a strong network of local partners in Europe, Middle East and Asia.

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 ten substantial holdings with a market value of about SEK 49 billion. The wholly-owned industrial operations has an annual turnover of about SEK 11 billion.  

Segulah V L.P. has entered into an agreement to acquire Francks Kylindustri AB from the Franck family and CEO Per Hannius.

Francks is a leading company within the industrial refrigeration market with a turnover of approximately MSEK 450. The company, founded in 1950, has approximately 200 employees and is headquartered in Norrköping. With offices at ten locations from Ludvika in the north to Helsingborg in the south, Francks undertakes complex refrigeration installations in a number of industries.

Both current Chairman Göran Franck and CEO Per Hannius will remain as shareholders alongside Segulah.

”I look forward to working with Segulah to grow Francks and develop the business for our customers. With Segulah as a new, strong majority shareholder, we get the opportunity to invest further, both organically and through strategic acquisitions”, says Per Hannius.

“Segulah, who previously has completed several successful investments in the installation sector, is pleased to be the new majority shareholder of Francks and look forward to develop the business together with Francks’ strong management team”, says Marcus Planting-Bergloo, Partner at Segulah Advisor AB.

The acquisition is the eight investment for Segulah V L.P.

For further information, please visit www.franckskylindustri.se,
www.segulah.com or contact:

Per Hannius, CEO, Francks, +46 73 53 99 225

Marcus Planting-Bergloo, Partner, Segulah Advisor AB, +46 70 22 91 185

Investment AB Latour (publ) has, through its subsidiary Aritco Group, acquired TKS Heis AS based in NÆRBØ, Norway. Closing will take place on 31 January, 2019.

TKS Heis is a leading Norwegian manufacturer and installer of platform lifts and installer of passenger lifts. The company was founded in 1997 and has built a business with development and manufacturing at the head office in NÆRBØ and a sales, installation and aftermarket organization that serves the majority of the Norwegian market. Sales for 2018 amounted to NOK 155 million and the company has 74 employees.

The acquisition of TKS Heis complements Aritco’s product portfolio and strengthens its offering to existing distribution networks. In addition, the acquisition strengthens an already strong position in the Norwegian market.

“TKS Heis has been a reseller of Aritco’s products in Norway since 1997 and I am very pleased to have Latour and Aritco as a new owner. I am convinced that Aritco as a long-term and industrial owner with a customer base in a large number of markets will constitute an excellent foundation for continued growth for TKS Heis and our products in and outside Norway”, Says Tønnes Helge Kverneland, CEO of T. Kverneland & Sønner AS.

“We have had a close partnership with TKS Heis since 1997 and we have come to know TKS as a very professional player, the acquisition secures this relationship for the future. TKS gives us access to a product that complements our existing range in an excellent way. In addition, TKS Heis adds great experience and expertise in the aftermarket field, which will help us in our development of aftermarket products and services” says Martin Idbrant, CEO of Aritco Group.

Göteborg, 11 January, 2019

INVESTMENT AB LATOUR (PUBL)
Jan Svensson President and CEO

For further information, please contact:
Martin Idbrant, VD Aritco group AB, 0727 15 36 52
Gustav Samuelsson, affärsutveckling Investment AB Latour, 0735 52 55 59

Aritco Group is a globally leading manufacturer of platform lifts for one-family houses and accessibility adaptation of public/commercial buildings. Sales go through a strong network of local partners in Europe, Middle East and Asia.

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 ten substantial holdings with a market value of about SEK 49 billion. The wholly-owned industrial operations has an annual turnover of about SEK 11 billion.  

Ratos’s subsidiary airteam is continuing its expansion in Sweden through the acquisition of Creovent AB (Creovent) and Thorszelius Ventilation & Service AB (Thorszelius), leading installers of climate and ventilation solutions in the Stockholm and Uppsala regions.

airteam, a leading supplier of ventilation solutions in Denmark, is strengthening its market position in Sweden through the acquisition of Aurvandil AB, who owns the subsidiaries Creovent and Thorszelius. Together they have approximately 85 employees with offices in Stockholm and Uppsala. Pro forma sales in 2017 for both companies amounted to approximately SEK 235m and adjusted EBITA to SEK 24m. The companies offer efficient climate and ventilation solutions, including service and maintenance, to a customer base comprising property owners, construction companies and the public sector. This is airteam’s second acquisition in the Swedish market and its third bolt-on acquisition overall since Ratos became principal owner of the company in 2016.

“With the acquisition of Creovent and Thorszelius, airteam is continuing its strategic investments in Sweden, and together with the acquisition of Luftkontroll Energy in Örebro last year, airteam now has a strong market position in the expansive Mälardalen region. Creovent and Thorszelius are well-run companies with strong market positions in the Stockholm and Uppsala regions and have competent management teams, who will remain in their roles and be partners in the company moving forward. We welcome Creovent and Thorszelius to airteam and look forward with confidence to growing together in Sweden,” says Robin Molvin, Vice President of Ratos.

The acquisition is expected to be completed in the first quarter of 2019 and is being financed by airteam without any capital contribution from Ratos.

For further information, please contact:
Robin Molvin, Vice President, Ratos, +46 8 700 17 15
Helene Gustafsson, Head of IR and Press, Ratos, +46 8 700 17 98

About Ratos:
Ratos is an investment company that owns and develops unlisted medium-sized Nordic companies. Our goal as an active owner is to contribute to the long-term and sustainable business development in the companies we invest in and to make value-generating transactions. Ratos’s portfolio consists of 12 medium-sized Nordic companies and the largest segments in terms of sales are Construction, Industrials and Consumer goods/retail. Ratos is listed on Nasdaq Stockholm and has a total of approximately 12,300 employees.

CBPE Capital (“CBPE”) has acquired a majority ownership position in IDEAL Networks, a market leading Industrial Technology business which provides portable handsets for data cable and network testing, validation and certification. CBPE is acquiring the business from its former parent, IDEAL INDUSTRIES Inc and will be investing alongside the incumbent management team led by Paul Walsh, CEO. Terms of the transaction have not been disclosed.

IDEAL Networks’ products improve the productivity of qualified engineers who install, test and maintain network cabling and services. They work by simulating data flow to provide network diagnostics, enabling the engineers to certify newly installed network cabling or to resolve network issues across both Local Area Networks (LAN) and Wide Area Networks (WAN). IDEAL Networks is a global business, with sales across the EMEA, North America, Latin America and Asia.

Its comprehensive portfolio of products means that IDEAL Networks is well positioned to take advantage of a high growth market driven by ever-increasing demands for rapid and reliable network connectivity to facilitate global trends of faster transmission of data, voice and video signals.

CBPE will work with management to build on IDEAL Networks’ reputation for product innovation and will invest in research and development. The business will continue to offer market leading products developed to suit the needs of its end users.

CBPE has a strong track record of acquiring subsidiaries or divisions from larger parents and supporting these in becoming successful standalone businesses. Examples from CBPE’s current and realised portfolio include: SAFECHEM, which was acquired from The Dow Chemical Company; Xafinity, which was acquired from the Equiniti Group; and BWA, which was acquired from Chemtura. CBPE will leverage this experience to support the management team in establishing IDEAL Networks as an independent market leader and in pursuing ambitious international growth.

Mathew Hutchinson, Partner, CBPE said:
“IDEAL Networks has successfully established a reputation for quality and service in an attractive and growing market, and we are confident that the business will thrive under independent ownership. We will work with the management team and support their commitment to continue to offer innovative products and services which match the needs of the customer base.”

Paul Walsh, CEO of IDEAL Networks said:
“We are delighted to be working with CBPE and look forward to establishing IDEAL Networks as a successful, independent market leader. IDEAL INDUSTRIES has been a supportive owner and has enabled us to reach this stage of our development. With CBPE, we are confident we have found a partner that will provide valuable input as we pursue our exciting growth plans.”

CBPE’s investment in IDEAL Networks was led by Mathew Hutchinson with support from Ben Lewis, James Whittington and Aqil Sohail. Mathew Hutchinson and Ben Lewis will join the Board of IDEAL Networks.

Reed Smith acted as legal advisers to CBPE and PMSI provided the commercial due diligence advice. William Blair acted as financial adviser to IDEAL INDUSTRIES Inc.