EQT Private Equity to sell StormGeo to Alfa Laval

eqt
  • EQT Private Equity to sell StormGeo, a global provider of software-based decision support for weather sensitive operations, to Alfa Laval at a transaction price of NOK 3,630 million
  • StormGeo’s weather intelligence contributes to safeguarding people, assets and operations, and helps its customers achieve greenhouse gas targets and reduce emissions, with more than 2.0 million tons fuel and 6.1 million tons CO2 saved since 2018
  • During EQT’s ownership, StormGeo has more than doubled revenues, EBITDA and number of customers as a result of strong organic growth, investments in digitalization and a number of strategic add-on acquisitions

EQT is pleased to announce that the EQT Mid Market fund (“EQT Private Equity”) has agreed to sell StormGeo Holding AS (“StormGeo” or “the Company”) to Alfa Laval AB (“Alfa Laval”), a world leader in heat transfer, centrifugal separation and fluid handling. The transaction price amounts to NOK 3,630 million.

StormGeo was founded in 1997 in Bergen, Norway, as a spin-off from Norway’s largest commercial broadcaster, TV2. Through its scalable software solutions, StormGeo provides weather-centric services to more than 2,200 customers globally in a variety of industries, including shipping, energy and onshore industries such as healthcare, hospitality, insurance and retail.

With extreme weather being the number one cause of business disruptions globally, StormGeo’s point specific forecasts, coupled with asset specific data, enable customers to safeguard people, assets and operations while minimizing downtime, improving ESG performance, saving fuel and resources.

During EQT Private Equity’s ownership, StormGeo has transformed from a regional champion into a leading global provider of shipping- and weather-solutions, underpinned by a proprietary and automated data platform. Fueled by global megatrends such as climate change and digitalization, StormGeo has more than doubled revenues, EBITDA and number of customers, and the Company’s platform has been significantly strengthened through investments in digitalization and six strategic add-on acquisitions. In 2018, StormGeo was elected a UN Global Compact Partner and has since proudly contributed to the Action Platform for Sustainable Ocean Business.

Rikke Kjær Nielsen, Partner and Investment Advisor at EQT Partners said, “It has been a privilege to partner with StormGeo’s management team and take part of the growth journey. We are proud of the company’s contribution to society in helping clients act sustainably and facilitating a reduction of 6.1 million tons CO2 since 2018. This aligns perfectly with EQT’s investment approach, and StormGeo is a strong testimony to EQT’s purpose of making a positive impact. I would also like to thank DNV and all the other minority co-investors in StormGeo for a great cooperation over the past few years. We are confident that Alfa Laval will be a great new home for StormGeo, and together, they will continue to be a trusted partner to businesses worldwide.”

Søren Andersen, CEO of StormGeo, further commented, “Together with EQT, StormGeo has transformed into a global market leader through accelerated investments in digitalization and several strategic add-on acquisitions. We are grateful for the strong cooperation and support from EQT over the past years, and we now look forward to continuing to develop our business through further geographic- and technological expansion together with Alfa Laval.”

The transaction is expected to close in Q2 2021.

EQT Private Equity was advised by Houlihan Lokey (M&A), EY (financial, tax, commercial, ESG, tech) and Wiersholm (legal).

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 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 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 StormGeo
StormGeo is a leading global provider of software-based decision support for weather sensitive operations. The company was founded in 1997 as a spin-off from Norway’s largest commercial broadcaster, TV2, and today provides weather-centric services for a variety of industries, including shipping, renewables, oil & gas, and onshore industries such as healthcare, hospitality and retail. The company is headquartered in Bergen, Norway and has 24 offices in 15 countries and approximately 515 employees.

More info: www.stormgeo.com

About Alfa Laval
Alfa Laval is active in the areas of Energy, Marine, and Food & Water, offering its expertise, products, and service to a wide range of industries in some 100 countries. The company is committed to optimizing processes, creating responsible growth, and driving progress – always going the extra mile to support customers in achieving their business goals and sustainability targets.

Alfa Laval’s innovative technologies are dedicated to purifying, refining, and reusing materials, promoting more responsible use of natural resources. They contribute to improved energy efficiency and heat recovery, better water treatment, and reduced emissions. Thereby, Alfa Laval is not only accelerating success for its customers, but also for people and the planet. Making the world better, every day.

Alfa Laval has 16,700 employees. Annual sales in 2020 were SEK 41.5 billion (approx. EUR 4 billion). The company is listed on Nasdaq

More info: www.alfalaval.com

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EQT Private Equity exits In.Corp Global to TA Associates

eqt
  • EQT Private Equity exits its stake in In.Corp Global, a leading pan Southeast Asia & India corporate services provider, to TA Associates
  • Under EQT Private Equity’s tenure, In.Corp, has grown from a Singapore business to a regional player with geographical footprint across seven countries, launched new services to provide full end-to-end service offerings and developed an industry leading technology platform at the core of its business to drive workflow automation
  • During EQT Private Equity’s ownership, In.Corp has experienced substantial revenue and EBITDA growth, while the employee base increased by more than five times

EQT is pleased to announce that the EQT Mid Market fund (“EQT Private Equity”) has completed the sale of its stake in In.Corp Global (“the Company” or “In.Corp”) to TA Associates.

Headquartered in Singapore, In.Corp provides end-to-end corporate services such as corporate secretarial, share registry, outsourced accounting and tax services in Singapore, Malaysia, Indonesia, Philippines, Vietnam, Hong Kong and India.

During EQT Private Equity’s ownership, In.Corp expanded its geographical presence from one to seven countries, grew its client base substantially to include more large and multinational corporations. Moreover, the Company enhanced its service offering and organizational capabilities to provide end-to-end corporate services support to its clients with its employee base increasing by more than five times.

In.Corp also developed an industry leading technology platform which enables workflow automation, resulting in higher employee productivity and market leading profitability. Today, In.Corp is a leading pan Southeast Asia & India corporate services provider with over 500 employees, servicing more than 12,000 clients across international SMEs and multinational corporations.

Brian Chang, Partner and Investment Advisor, Head of Southeast Asia at EQT Partners, said “We are pleased to have found a good partner for In.Corp for what we believe will be an exciting next phase of its journey. In.Corp has transformed significantly into a regional leader in the Asian corporate services industry in the last five years and we are proud of the accomplishments achieved alongside a very entrepreneurial and professional management team and board. We thank Atin, the management team, all employees and the board for their vision and dedication, and we are confident that In.Corp will continue to be successful under its new ownership.”

Atin Bhutani, CEO of In.Corp, said “We want to thank EQT and the entire team for the trust, dedication and guidance over the last five years. EQT has been a great partner and instrumental in In.Corp’s journey so far and also in finding the right partner for us for the next phase of growth and transformation. I will personally also cherish the friendships that we have built over these years.”

Contact
APAC media inquiries: KEKST CNC, daniel.delre@kekstcnc.com, +852 9212 3105
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 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 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 In.Corp Global
Based in Singapore, In.Corp is the leading provider of professional corporate solutions for businesses with presence in seven markets across Asia. In.Corp specializes in a full range of professional services for companies planning to establish a hub or headquarters in Asia, including incorporation, corporate secretarial & compliance, share registry, accounting, taxation, human resources, corporate recovery and other business advisory services.

More info: www.incorp.asia

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Eurazeo invests in Messagebird, the world’s leading global omnichannel communication platform

Eurazeo

and its partners are pleased to announce a $200 million minority investment into MessageBird, the world’s leading global omnichannel communication platform.
Eurazeo through its Growth expertise co-leads the company’s Series C round extension together with Tiger Global and alongside funds and accounts managed by BlackRock, Owl Rock and all existing investors including Atomico and Accel. The extended $1 billion round represents Europe’s largest ever Series C, and the second largest on either side of the Atlantic.

On the back of the funding, MessageBird today announces it has entered into definitive documentation to acquire US-based SparkPost, the largest, first and only predictive email intelligence platform. The deal values SparkPost at $600 million and is expected to close in Q2 following receipt of customary regulatory approvals. The acquisition represents another important step for MessageBird in building a global omnichannel platform.
Beyond financing the strategic acquisition of SparkPost, this fundraising will enable the company to continue its geographical expansion, specifically in fast growth emerging markets. Moreover, the company plans to accelerate its investments into its software suite to help business customers increase productivity and improve customer experience.

MessageBird was founded in 2011 in the Netherlands with the ambition to transform the way businesses interact with their customers to adapt to new means of communication. The company offers a global cloud-based communication platform enabling frictionless business-to-consumer communication across 20 channels including Live-chat, Video, Voice, SMS, WhatsApp, Instagram, Google Business Messages, WeChat, Line, or Telegram.
On top of its connectivity APIs, the company has built software solutions, “Inbox” and “Flow Builder”. The former enables customer support agents to manage all customer interactions in a single, omnichannel thread, while Flow Builder allows business users to automate their communication workflows without a single line of code.

Post acquisition, the combined company will serve more than 25,000 customers, from SMBs to large enterprises, including blue chip accounts such as Disney, Facebook, Glovo, Heineken, Hugo Boss, JP Morgan, Lufthansa Airlines, PayPal, SAP and Uber, with 700 employees and have a revenue run-rate of over $500 million.

Yann du Rusquec, Partner,
« We are very proud to back MessageBird and actively contribute to one of the most exciting success stories ever started by a European company. The acquisition of SparkPost, which position MessageBird as the world’s leading omnichannel communication platform-as-a-service, is a fantastic example of how our Growth Equity strategy helps tech companies expand their horizons, consolidate their positions and realise their full potential. Our mission is to help Europe nurture tech giants. No doubt MessageBird will be one of those.»

ABOUT EURAZEO
Eurazeo is a leading global investment group, with a diversified portfolio of €21.8 billion in Assets Under Management, including €15.0 billion from third parties, invested in 450 companies. With its considerable private equity, private debt and real assets expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.
Eurazeo is listed on Euronext Paris.
ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

EURAZEO CONTACTS

Virginie Christnacht

HEAD OF COMMUNICATIONS vchristnacht@eurazeo.com
+33 (0)1 44 15 76 44

Pierre Bernardin
HEAD OF INVESTOR RELATIONS pbernardin@eurazeo.com
+33 (0)1 44 15 16 76

PRESS CONTACT
DAVID STURKEN
MAITLAND/AMO dsturken@maitland.co.uk+44 (0)7990 595 913

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Archive-IT partners with investor FIELDS group for future growth

Fields Group

Reuver, April 2021 – The Dutch investor FIELDS Group, together with Paul de Meulemeester, acquired the established archiving specialist Archive-IT from successful entrepreneur Joan Westendorff. Sitting COO Paul de Meulemeester will remain with the company as CEO and will further support Archive-IT with its international expansion plans.

Archive-IT is one the Netherlands’ largest independent archiving specialists. The company offers a broad portfolio of services and software for the digitization and archiving of physical and digital data. Archive-IT is active in the Dutch, Belgian, French and German markets and offers archiving services and solutions to hospitals, governments, law firms and multinationals.

In the next few years, Archive-IT expects to grow primarily in its international markets: “We see a strong market transition in France and Germany towards digitization and outsourcing of archives. Through our quickly expanding French operation and a brand-new archiving location in Germany we are perfectly positioned to capitalize on these trends” says Paul de MeulemeesterThere are also many opportunities in the Dutch and Belgian market: “In the Netherlands we expect our new software developments in the domain of digital archiving and innovative services in the field of enrichment of unstructured data (“data vitalization”) to create further value for our clients. In parallel we notice an increasing appetite in Belgium for digital archiving solutions”

Joan Westendorff, who founded the company in 2004 using his experience from Jalema, a well-known producer of archiving folders and other archiving and office supplies, proudly steps back from Archive-IT: “I have greatly enjoyed experiencing how Archive-IT has developed into an independent and distinctive player in the archiving market, with an international footprint. Now the time has come to pass the torch. I will close the chapter Archive-IT (known formerly as I-FourC) and start a new chapter. My next chapter will focus on real estate, philanthropy and helping entrepreneurs found new companies. I will remain connected to Archive-IT through the development and financing of the new archiving location near the German border in Bruggen-Bracht.”

Besides organic growth, potential acquisitions are also being considered to accelerate the company’s growth. Rutger Alberink of FIELDS Group: “Especially in Germany and France, we see a fragmented market of archiving specialists. In the case of an acquisition, we expect Archive-IT’s unique software and data services to directly create added value for the clients in the acquired company’s client portfolio.”

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Ardian and MCH Private Equity join forces to invest in Logalty, a spanish legaltech company

Ardian

Madrid, April 19, 2021 – Ardian Growth has teamed up with MCH Private Equity, a leading Spanish mid-market private equity firm, to acquire the legaltech company, Logalty. Swen Capital Partner, a long-term investor in MCH, also participated in the transaction.

Founded in 2005, Logalty is responsible for ensuring the legal security of online transactions by providing digital identity and contractual flow solutions with distributed interposition. To meet the highest standards of cyber-security and compliance, Logalty provides large corporates with legal security through effective electronic evidence.

In the last two years, the company has seen 20% growth in sales year-on-year and has doubled its EBITDA. It client base includes some of the leading financial institutions in Spain.

Through this investment by MCH Private Equity as leader of the transaction and Ardian Growth, the group is aiming in 2021 to consolidate its position in its domestic market and accelerate its international development, particularly in Mexico and Portugal. The company aims to develop new technological blocks, expand its offer in the SME market and strengthen its positioning with blue chip customers. In 2020, Logalty maintained its profitable growth, successfully coping an increasing number of data exchanges.

MCH PE and Ardian Growth have enjoyed a close relationship for several years and have highly complementary expertise. Logalty will be able to leverage MCH PE’s deep understanding of the Spanish market, after more than 20 years’ experience transforming leading companies in their respective industries, as well as Ardian Growth’s digital expertise scaling up companies with double-digit growth.

Andrés Peláez, Senior Partner at MCH Private Equity, comments: “Logalty is the only Spanish player to have penetrated major accounts and managed to maintain long-lasting relationships. It is a very attractive company with great potential in a market that is in the process of consolidation. Together with Ardian Growth, we are confident that we will be able to take the company to new levels of growth.”

Bertrand Schapiro, Director in the Ardian Growth team, added: “Logalty has built an impressive tech platform able to support customers’ growing needs, while simultaneously reaching new markets. We’re delighted to leverage our pan-European footprint and our ecosystem of entrepreneurs to support the management’s ambitious growth strategy.”

Gonzalo Fernandez Albiñana, Managing Director at Ardian Spain completed: “Investing alongside MCH, one of the leading Spanish mid-market funds, with whom we have a long-standing relationship, and whose approach is complementary to that of Ardian Growth, is an exciting opportunity.”

ABOUT LOGALTY

Established in 2005 as the first Spanish Legaltech, Logalty acts as a provider of services for generating proof by interposition in online transactions, ensuring that transactions are secure, unalterable and with full probative value. Since its foundation, the Company has registered +38 million electronic signatures and +25 million certified communications in +147 countries, as well as generating +58 million notarized electronic documents and evidence.

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Hg invests in AUVESY to support the business’ leading position in the growing industrial automation sector

HG Capital

Landau, Germany and London, United Kingdom: 16 April 2021

Hg, a leading global software investor, today announces an investment in AUVESY GmbH (“AUVESY”), a leading global provider of version control and change management software solutions for automated industrial environments.

As part of the transaction, the AUVESY management team will maintain a significant investment in the business whilst the former majority owner Brockhaus Private Equity has fully exited its position. The terms of the transaction have not been disclosed and the transaction is subject to completion.

Founded in 2007 and headquartered in Germany, AUVESY is a provider of version control software for smart production machinery and other industrial Internet of Things (“IoT”) devices. AUVESY manages over 5 million industrial IoT devices across 45 countries, serving over 700 loyal customers.

Software developed by AUVESY enables its customers with automated production facilities and other smart machinery to automatically backup, secure and centralise their machine data and executable code. Customers also benefit from fully-featured change management, detailed change detection, easily comprehensible documentation, and a high degree of user-friendliness. All machine level data is easy to backup and access when needed, simplifying maintenance, and freeing up time for optimising production processes. Downtime is significantly reduced, due to easy and reliable code management, trouble shooting and disaster recovery. The AUVESY software product “versiondog” is in use across a wide range of sectors, including automotive, chemical, energy, food & beverage, pharma and utilities.

AUVESY is the first investment from the Hg Mercury 3 Fund and represents the 8th investment in Hg’s Automation & Engineering cluster focus, including the recently announced agreement with Trackunit. The investment will support AUVESY’s position in a growing sector, which sits an important inflection point as shopfloors and industrial devices are getting increasingly digitalised, requiring version control solutions from a technical, cybersecurity, compliance and, for certain industries, even a regulatory perspective.

“This is positive news for everyone at AUVESY and I thank all my colleagues who have worked so hard to get us to this very strong position. We are delighted to be partnering with a software expert in Hg. We see their operational experience and expertise in areas such as international sales, marketing and M&A being hugely beneficial to the future growth of the firm, all supporting our ‘Never Stand Still’ mission to ensure that our customers around the world experience less down time in their production.”

Dr. Tim Weckerle, CEO of AUVESY

“AUVESY is a highly innovative business, building a leading position in industrial IoT version control software globally. We see significant growth potential in this sector, both across new industry verticals and expansion into additional use cases. AUVESY is incredibly well positioned to benefit from this potential. Its excellent software enjoys high customer satisfaction and loyalty due to the efficiency increase and risk protection it provides.”

Benedikt Joeris, Director at Hg

“Digitalisation at the shopfloor level is an increasing requirement across many sectors right now. As this trend continues, AUVESY is well positioned to enable customers to follow this trend. We see significant room to grow dynamically in the years ahead and look forward to working with the team.”

Markus Reithwiesner, an industry advisor at Hg and serving board member for several companies in the production and industry automation sector, will join AUVESY as Chairman

“As a technology investor focusing on high margin companies in innovation-driven markets, AUVESY was a perfect fit for our investment strategy when we acquired the company from its founders in 2017. After having supported the company in internationalisation by opening offices in the USA and in China, we see a prospering future for AUVESY.”

Marco Brockhaus, founder and Managing Director of Brockhaus Private Equity


For further details:

Tom Eckersley (Hg)
Tom.Eckersley@hgcapital.com
Phone: +44 208 148 5401

About AUVESY

AUVESY is a global leader for data management systems and the company behind versiondog, the world’s leading version control & data management system for automated production. versiondog provides users with comprehensive support for centralised data management and device backup. Specifically developed for industrial automation and designed to work with all data and automation systems, this solution is acknowledged as the world leader in its field.

AUVESY has a wide range of customers across the industrial spectrum who use this version control and change management software to safeguard PLCs, CNCs, SCADAs, HMIs, robots, and field devices. versiondog is the go-to solution for safeguarding data and for disaster recovery.

All users of AUVESY’s versiondog software benefit from greater utilisation of plant capacity and a significant reduction of downtime. https://auvesy.com/

About Hg

Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $30 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 35 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth over $60 billion aggregate enterprise value, with over 35,000 employees globally. Visit www.hgcapital.com for more information.

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KKR to Acquire Ensono

KKR

April 14, 2021

Exciting chapter begins for Ensono with a new investor to drive continued growth

DOWNERS GROVE, Ill.April 14, 2021 /PRNewswire/ — Ensono, a leading hybrid IT services provider, and KKR, a leading global investment firm, today announced that KKR has signed a definitive agreement to acquire Ensono from Charlesbank Capital Partners and M/C Partners. The new investment follows multiple years of strong performance by Ensono, including robust growth in 2020 and its recently completed acquisition of Amido, a UK-based cloud native consultancy.

Ensono provides a comprehensive suite of services that help enterprises manage, optimize and modernize their IT systems across mainframe, cloud and hybrid infrastructure. Charlesbank and M/C Partners acquired the company in 2015 as a corporate carve-out. Since rebranding as Ensono in 2016, the company has achieved impressive growth in new clients and revenue. Ensono will benefit from KKR’s deep technology experience and global resources to help it achieve new heights as it continues to establish itself as a leading managed service provider to medium and large enterprises.

“As we embark on our next chapter with KKR, Ensono will continue to provide clients with transformational solutions that help them operate for today and optimize for tomorrow,” said Jeff VonDeylen, CEO of Ensono. “Our initial investors played an important role in helping us establish our business and brand and funding our growth.  With the support of KKR, we will continue to grow and invest in our future as we drive innovation to meet the changing needs of our clients. We are fortunate to be in an industry where the need for our services has not only grown but diversified into exciting new areas of potential growth.”

“Digital transformation across industries is driving an increased need for comprehensive service providers to help simplify IT infrastructure management for enterprise clients,” said Webster Chua, Partner at KKR. “Ensono is a proven leader in delivering hybrid solutions for clients with complex IT environments, and we are thrilled to support the Ensono team on its next phase of growth and development.”

“We are proud that our investment enabled Jeff and his outstanding management team to achieve their ambitious vision of establishing Ensono as a global leader in hybrid IT,” added Michael Choe, Managing Director and CEO of Charlesbank Capital Partners, and Gillis Cashman, Managing Partner of M/C Partners, in a joint statement. “We are thrilled about Ensono’s new investment from KKR and look forward to seeing its success continue as the company adds to its portfolio of innovative service options.”

KKR is making the investment primarily from its Americas XII Fund. The investment adds to KKR’s experience helping to grow leading global technology businesses, including GoDaddy, Internet Brands, Epicor, BMC, Optiv, Calabrio and 1-800 Contacts.

The transaction is expected to close within the next 60 days, subject to regulatory approvals and other customary closing conditions. Financial terms were not disclosed.

UBS Investment Bank and Guggenheim Securities, LLC are serving as financial advisors to Ensono. Morgan Stanley & Co LLC and RBC Capital Markets, LLC are serving as financial advisors to KKR. Goodwin Procter LLP is providing legal counsel to Ensono and Simpson Thacher & Bartlett LLP is serving as KKR’s legal counsel.

About Ensono
Ensono helps IT leaders be the catalyst for change by harnessing the power of hybrid IT to transform their businesses. We accelerate digital transformation by increasing agility and scalability through infrastructure modernization and migration to public cloud. Our broad services portfolio, from mainframe to cloud, is powered by an award-winning IT insights platform and is designed to help our clients operate for today and optimize for tomorrow. We are certified experts in AWS and Azure and recognized as Microsoft Datacenter Transformation Partner of the Year. Ensono has over 2,400 associates around the world and is headquartered in greater Chicago. Visit us at www.ensono.com.

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 Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm with more than $15 billion of capital raised since inception. Charlesbank focuses on management-led buyouts and growth capital financings, as well as opportunistic credit and technology investments. The firm seeks to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.

About M/C Partners 
M/C Partners is a private equity firm focused on small and mid-size businesses in the communications and technology services sectors. For more than three decades M/C Partners has invested $2.2 billion of capital in over 130 companies, leveraging its deep industry expertise to understand long-term secular trends and identify growth opportunities. The firm is currently investing its eighth fund, partnering with promising companies and empowering strong leaders to accelerate growth, optimize operations, and build long-term value. For more information, visit www.mcpartners.com.

Media Contacts:
Ensono
Bridget Devine
Bridget.devine@walkersands.com

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

Charlesbank
Maura Turner
mturner@charlesbank.com

SOURCE Ensono

Related Links

http://www.ensono.com

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KKR to Acquire Therapy Brands

KKR

April 7, 2021

BIRMINGHAM, Ala. and NEW YORK, April 7, 2021 /PRNewswire/ — KKR, a leading global investment firm, announced today that it has agreed to acquire a majority interest in Therapy Brands (the “Company”), a leading practice management and electronic health record (EHR) software platform for mental, behavioral, substance use recovery, applied behavior analysis (ABA) and physical rehabilitation healthcare providers, from its existing shareholders – investment funds affiliated with Lightyear Capital LLC, Oak HC/FT and Greater Sum Ventures. Existing investor PSG will participate in the transaction alongside KKR and continue to be a minority shareholder in Therapy Brands. Financial details of the transaction were not disclosed.

Founded in 2013, Therapy Brands provides end-to-end, purpose-built software solutions to streamline the full clinical, administrative and reimbursement workflows of healthcare professionals in multiple end markets. Its HIPAA-compliant solution suite supports the daily operations of more than 28,000 practices across the U.S., ranging from individual providers to national multi-location practice groups.

“Provider and patient friendly technology-enabled solutions are more important than ever as the demand for mental and behavioral health services continues to rapidly increase,” said Kimberly O’Loughlin, CEO of Therapy Brands. “We are excited to welcome KKR as our new investor, which brings a deep understanding of the healthcare sector and extensive experience in scaling technology-enabled platforms. This support will help us accelerate our mission of making it easier for providers to navigate an increasingly complex administrative landscape so they can spend more time and focus on delivering improved outcomes for their clients.”

Therapy Brands’ technology platforms address the underserved practice management needs of mental and behavioral healthcare professionals, including psychologists, psychiatrists, counselors, social workers, ABA clinicians, addiction specialists and physical, speech and occupational therapists. Across its portfolio of leading brands – including TheraNestShareNoteCodeMetroAccuPoint,DataFinchTenElevenProcentiveFusion Web Clinic, and A2C – Therapy Brands offers comprehensive and customized practice management and EHR services along with integrated capabilities for telehealth, data collection and interoperability, revenue cycle management, e-prescribing and payments. Therapy Brands’ technologies are purpose-built, focused squarely on improving the patient experience and decreasing the administrative burden for practitioners so they can spend more time focused on the health and well-being of their clients and businesses.

“We are delighted to be backing Therapy Brands at a time when there is increasing recognition and social awareness about the importance of mental health,” said Max Lin, a KKR Partner who co-leads the health care industry team for KKR’s Americas Private Equity business. “Therapy Brands has developed an impressive portfolio of best-in-class software tools and mission-critical solutions to help mental health providers modernize their practices.  We look forward to working with the team in accelerating the growth of the platform and finding additional ways of delivering enhanced value to its clinicians.”

“We formed the Therapy Brands platform to bring comprehensive technology solutions to this important end market within our healthcare system,” said Marco Ferrari, a Managing Director at PSG. “We have been thrilled with our partnership with the Therapy Brands team and look forward to continuing this journey alongside KKR.”

KKR is making its investment in Therapy Brands primarily from its Americas XII Fund. The investment adds to KKR’s experience of investing in leading behavioral healthcare businesses, including Blue Sprig Pediatrics and BrightSpring Health Services, and in high-growth healthcare-related technology companies such as WebMD (Internet Brands) and Clarify Health. KKR has also established a strong track record of supporting leading vertical market software companies including Autodata, Epicor Software Corporation, Ipreo, Mitchell, MYOB and OptimalPlus.

Mark F. Vassallo, Managing Partner of Lightyear, stated, “The investment in Therapy Brands reflects Lightyear’s ongoing thematic focus on the intersection of tech-enabled financial services and healthcare. Under our ownership, Therapy Brands has more than tripled in size through a combination of strong organic growth and nine strategic acquisitions. It has been a pleasure working with Kimberly and the Therapy Brands team, and we wish them continued success.”

William Blair and TripleTree are acting as financial advisors and Davis Polk & Wardwell LLP as legal advisor to Therapy Brands. Kirkland & Ellis LLP is serving as legal advisor to KKR.

About Therapy Brands
At a time when the topics of digital connectivity and access to care are at the forefront of the cultural conversation in the U.S., Therapy Brands is equipping practitioners with effective solutions to address the growing needs of mental and behavioral health, substance use recovery, applied behavior analysis and rehabilitation populations. Through purpose-built, fully integrated practice management and EHR solutions provided by Therapy Brands, healthcare providers can improve patient quality of care and support better health outcomes for those they serve. Therapy Brands is headquartered in Birmingham, AL. For more information, please visit us at www.therapybrands.com

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.

PSG
PSG is a growth equity firm that partners with middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 65 companies and facilitated over 275 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City and London. To learn more about PSG, visit www.psgequity.com.

Media Contacts:
For KKR:
Cara Major or Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

For Therapy Brands:
Shannon Vann
Mediainquiries@therapybrands.com

For PSG:
Cameron Nugent
cameron.nugent@psgequity.com

Paysafe Completes Business Combination with Foley Trasimene Acquisition Corp. II

CVC Capital Partners

Transaction and move to capital markets expected to accelerate growth, enhance margins, and continue to build upon Paysafe’s M&A strategy

Paysafe Group Holdings Limited, a leading specialized payments platform, and Foley Trasimene Acquisition Corp. II (NYSE: BFT), (BFT WS) (“Foley Trasimene”), a special purpose acquisition company, today announced that they have completed their previously announced merger. The merger was approved at a special meeting of stockholders of Foley Trasimene on March 25, 2021, and closed today, March 30, 2021.  The combined company now operates as Paysafe Limited (“Paysafe”) and Paysafe’s common shares and warrants will begin trading on the New York Stock Exchange (NYSE) under the ticker symbols “PSFE” and “PSFE.WS” respectively, starting tomorrow, March 31, 2021.

Paysafe is a leading specialized payments platform, with a two-sided consumer and merchant network, whose core purpose is to enable businesses and consumers around the world to connect and transact seamlessly through payment processing; digital wallets including the Skrill and Neteller brands; and online cash solutions including paysafecard and Paysafecash. William P. Foley, II, Founder and Chairman of Foley Trasimene will serve as Chairman of Paysafe’s newly formed Board of Directors. Paysafe’s management team headed up by Philip McHugh, CEO, will continue to lead the combined company. ¹

William P. Foley, II, Founder and Chairman of Foley Trasimene and Chairman of Paysafe, stated, “We are thrilled to complete this business combination with Paysafe and I am personally excited to continue to work with Philip, Blackstone, CVC and the entire board as we continue to execute against our plan for accelerated and profitable growth. Paysafe has the right assets, team and strategy in place to capitalize on a tremendous opportunity for long-term value creation in the payments industry, especially in iGaming which is really beginning to open up across the United States.”

Philip McHugh, CEO of Paysafe, stated, “The closing of this transaction and our listing on the New York Stock Exchange is a huge milestone for Paysafe and getting to this point today is testament to the hard work and dedication of our team around the world.  I would also like to thank Bill and the Foley Trasimene team for their backing and belief in our opportunity, and of course Blackstone and CVC for their continued investment and support.  We’re excited to be embarking on the next stage of our growth journey as a public company.”

Eli Nagler, a Senior Managing Director at Blackstone, said: “Today is a significant milestone for Paysafe and a testament to the excellent work of their world-class management team over several years. We believe Paysafe has a long runway for further growth and look forward to remaining part of the team and seeing their continued success as a public company.”

Peter Rutland, a Managing Partner at CVC, said, “We are delighted for Paysafe as they begin their next chapter as a public company. By combining Paysafe’s leading solutions in high-growth, specialized markets with Paysafe’s seasoned management team, now supplemented with Bill Foley’s track record of enhancing organic and inorganic growth, this company is incredibly well-positioned to continue a strong growth trajectory and create value for shareholders and all other stakeholders.”

Advisors

Credit Suisse acted as lead financial advisor and capital markets advisor to Paysafe. Morgan Stanley also acted as financial advisor to Paysafe. BofA Securities, J.P. Morgan Securities LLC, Barclays, Wolfe Capital Markets and Advisory, BMO Capital Markets and Evercore also acted as capital markets advisors. Simpson Thacher & Bartlett LLP acted as legal counsel to Paysafe. Proton Partners acted as strategic advisor to Paysafe.

RBC Capital Markets LLC., BofA Securities and J.P. Morgan acted as financial advisors to Foley Trasimene.  Weil, Gotshal & Manges LLP acted as legal counsel to Foley Trasimene.

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Cerba HealthCare to welcome EQT Private Equity as new shareholder

eqt

Cerba HealthCare, leading player in medical diagnosis, together with Partners Group, and the Public Sector Pension Investment Board (“PSP Investments”) have entered into exclusive discussions with EQT Private Equity to enable the Company to pursue its long-term innovation services strategy and enhance services for patients and the medical community.

Cerba Healthcare, headquartered in France and firmly established in Europe and Africa through its historical routine and specialty biology expertise, also operates globally through its clinical trials business unit for the validation of new compounds and vaccines. It stands as a unique group in the diagnosis market, covering the needs for diagnostic tools and expertise for patients, physicians, hospitals and the pharmaceutical industry.

With this new partnership, Cerba HealthCare reinforces its capital structure with its existing shareholders -more than 400 long-time biologists and managers- and its long-term partner, PSP Investments, to sustain the Group’s development strategy and current transformation.

Catherine Courboillet, CEO, Cerba HealthCare, states, “Over the past four years, Partners Group has shown a comprehensive understanding of our market and unwavering support in sustaining Cerba HealthCare’s growth strategy. In order to continue to fulfill the Group’s long-term development, we are excited to welcome a partner that shares the same vision and values, as well as a strong understanding of the importance of cutting-edge, personalized services. It is critical to keep on investing heavily in innovation, IT security and talents in order to drive further and faster our on-going transformation towards better healthcare services for patients. With EQT, we have chosen an experienced partner that will strengthen our European positioning while helping us expand into new markets.”

Nicolas Brugère, Partner, Investment Advisor at EQT Partners and Head of EQT France, comments, “EQT has followed Cerba HealthCare for a long time and we are deeply impressed with the company’s unique platform for medical diagnoses and superior scientific expertise. Cerba HealthCare is a purpose-driven company with a culture that is well-aligned with EQT’s values and we are happy to partner with its management team and with PSP Investments. EQT Private Equity is committed to invest in and future-proof Cerba HealthCare for the long-run to best serve patients and healthcare professionals.”

Kim Nguyen, Partner, Private Equity Services, Partners Group, adds, “Cerba HealthCare operates in an important sector and we are proud to have successfully contributed to the sustainable growth strategy of the Company over the last four years. In line with Partners Group’s focus on positive stakeholder impact and entrepreneurial governance, Cerba HealthCare has not wavered in its commitment to responding to the COVID-19 crisis. During our holding period, the Company has transformed into a market leader, penetrating new international markets, including in Africa and Italy, further consolidating its expertise in clinical trials and securing leadership in the veterinary biology sector. We are convinced Cerba HealthCare is poised for lasting success and that, after our strong and collaborative partnership, it is the right time and opportunity for all stakeholders that the Company move into its next phase of growth.”

Simon Marc, Senior Managing Director and Global Head of Private Equity, PSP Investments, said, “Since our initial partnership with Cerba HealthCare in 2017, the company has gone from strength to strength, and we are excited to continue supporting Catherine and her talented management team as long term-partners. We look forward to welcoming EQT who has been one of PSP Investments core partners for many years, and who brings tremendous expertise in European healthcare. Together, we will provide the long-term strategic capital to support Cerba HealthCare in achieving its full potential through its next phase of development as a European leader in medical diagnostics.”

Following the completion of the deal, which is subject to administrative notifications and regulatory approvals, EQT Private Equity and PSP Investments will work with Cerba HealthCare’s management team, led by CEO Catherine Courboillet, to support the numerous growth opportunities of the business. These include the continuation of the Company’s highly successful M&A strategy on a global scale, as well as the acceleration of organic growth and development in other segments.

With this transaction, EQT IX is expected to be 40-45 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on its target fund size, and subject to customary regulatory approvals.

Contact for EQT
French media inquiries: Brunswick Paris, +33 679 99 27 15
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 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 Cerba HealthCare
Cerba HealthCare, a leading player in medical diagnosis, aims to support the evolution of health systems towards more prevention. It draws on more than 50 years of expertise in clinical pathology to better assess the risk of diseases development, detect and diagnose diseases earlier, and optimize the effectiveness of personalized medicine.

Every day, on 5 continents, the Group’s 8 500 employees sustain the transformation of medicine, driven by one deep conviction: to advance diagnosis is to advance health.

Cerba HealthCare, enlightening health.

About PSP Investments
PSP Investments is one of Canada’s largest pension investment managers with approximately $169.8 billion of net assets as of March 31, 2020. It manages a diversified global portfolio of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. Established in 1999, PSP Investments manages net contributions to the pension funds of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montreal and offices in New York, London and Hong Kong.

For more information, visit investpsp.com or follow PSP Investments on Twitter and LinkedIn.

About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested over USD 145 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group is a committed, responsible investor and aims to create broad stakeholder impact through its active ownership and development of growing businesses, attractive real estate and essential infrastructure. With over USD 109 billion in assets under management as of 31 December 2020, Partners Group serves a broad range of institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN).

For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.

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