Evernex completes its first acquisition since 3i’s investment and expands its presence in Eastern and Southern Africa

3I

Evernex, a leading international provider of third party maintenance (“TPM”) services for data centre infrastructure in which 3i invested in October 2019, has announced the acquisition of Storex, a South African provider of maintenance services for critical data centre equipment.

Storex maintains data centre hardware & critical IT assets, such as servers, storage and business network equipment with a multi-OEM expertise. Its level 1 B-BBEE status (“Broad-Based Black Economic Empowerment”) allows premium access to large South African corporates. Storex serves blue chip clients including banks, OEMs and telecoms companies in South Africa, Kenya and Turkey and has plans to expand into Dubai.

This acquisition will give Evernex local resources to grow its presence in South Africa, combined with the expertise of its seasoned founder who will stay with the business. Evernex and Storex have highly complementary capabilities and the acquisition provides further evidence of Evernex’s ability to integrate smaller businesses into its platform, after acquiring Roer in Argentina in 2019 and A Systems in Brazil in 2018.

Jan Beukes, CEO, Storex, commented: “Both of our companies are well-regarded in the African market and are highly compatible from a business standpoint, with a strong fit. We at Storex look forward to working closely with Evernex to build a strong international base.”

Stanislas Pilot, President and CEO, and Mohamed Bella, CMO and EVP MEA, Evernex, added: “We are delighted to be partnering with Storex. Combining our businesses will strengthen our position in Eastern and Southern Africa and enable us to grow our portfolio of blue-chip clients. Together with the talented teams at Storex, we will aim to provide the best service to our customers in South Africa and globally.”

Frédéric Chiche and Marc Ohayon, 3i France concluded: “Part of the rationale for investing in Evernex last year was to support its consolidation of the market and we believe this acquisition represents a material step towards creating a global market leader in the TPM space.”

3i invested in Evernex in October 2019. Headquartered in Paris, France, Evernex maintains over 200,000 IT systems in c. 160 countries, and has a global network of 34 offices. It is the preferred maintenance partner for multinational companies and has developed a multi-channel and multi-vendor flexible offering. Going forward, additional bolt-on acquisitions are expected to remain a key value-creation driver for Evernex and 3i.

-Ends-

Download the press release  

 

For further information, contact: 

3i Group plc

Silvia Santoro

Investor enquiries

Tel: +44 20 7975 3258

Email: silvia.santoro@3i.com

Kathryn van der Kroft

Media enquiries

Tel: +44 20 7975 3021

Email: kathryn.vanderkroft@3i.com

 

Notes to editors:

About 3i Group

3i is an investment company with two complementary businesses, Private Equity and Infrastructure, specialising in core investment markets in Northern Europe and North America.

3i’s Private Equity team provides investment solutions for growing companies, backing entrepreneurs and management teams of mid-market companies with an EV typically between €100m – €500m. We back international growth plans, providing access to our network and expertise to accelerate the growth of companies across the consumer, industrial, healthcare and business and technology services industries.

For further information, please visit: www.3i.com

 

About Storex

Since 2008, Storex, a South African company, is a leading supplier of Third-Party Maintenance services. Storex is specialised in the multi-vendor support, maintenance and life-cycle extension of medium size and enterprise level IT hardware infrastructure. The company is a leading alternative support provider and provides SLA services via a single point of contact, on top of datacentre value-added services, in South Africa, Kenya and Turkey.

For further information, please visit: www.storexsa.co.za

 

Regulatory information

This transaction involved a recommendation of 3i Investments plc, advised by 3i France.

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EQT Credit completes unitranche financing to support Mayfair Equity Partners’ acquisition of atHome Group

eqt

EQT Credit, through its Direct Lending investment strategy, is pleased to provide committed senior debt facilities to support Mayfair Equity Partners (“Mayfair”), a buyout and growth capital investor providing capital to dynamic businesses in the TMT and Consumer sectors, in its acquisition of a majority stake in atHome Group (“atHome” or the “Company”). Oakley Capital (“Oakley”) will retain a minority stake in the Company.

atHome is a leading online classifieds platform in Luxembourg, with the number one position in its core property classifieds market, as well as a growing presence across the automotive and mortgage broking verticals.

Vivian Ngan, Director at EQT Partners’ Credit team, Investment Advisor to EQT Credit, commented: “We were particularly attracted by atHome’s strong competitive position and impressive track record of growth achieved by its first-rate management team. We would like to thank our sector experts who, as senior executives in the classifieds sector, provided key support and insight to the deal team throughout the due diligence process.”

Andrew Cleland-Bogle, Partner at EQT Partners’ Credit team, Investment Advisor to EQT Credit, added: “atHome is a well-established player with strong brand awareness in the Luxembourg classifieds market. This transaction represents another example of the Credit platform’s ability to provide long-term capital as a committed partner to sponsors and management teams as they continue to grow their businesses. The Credit platform is delighted to be backing Mayfair, Oakley and the management team on this deal and look forward to supporting them in their continued development of the Company.”

Contact
Andrew Cleland-Bogle, Partner at EQT Partners, +44 20 7430 5510
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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

About EQT Credit
EQT Credit invests through three complementary strategies: Senior Debt, Direct Lending, and Special Situations. Since inception, EQT Credit has raised over EUR 7 billion of capital and invested in over 160 companies. EQT Credit’s Direct Lending strategy seeks to provide flexible, long-term debt solutions to support European businesses, across a wide range of sectors. These businesses include privately-owned companies seeking growth capital as well as those that are the subject of private equity-led acquisitions or refinancings.

More info: www.eqtgroup.com/business-segments/credit/strategies/

About Mayfair Equity Partners
Mayfair Equity Partners is a buyout and growth capital investor providing capital to dynamic businesses in the TMT and Consumer sectors. Its primary focus is on building strong partnerships with exceptional management teams. Mayfair is an investor in OVO Energy, a high-growth tech-enabled challenger brand in the energy space, YO!, a multi-brand multi-channel sushi platform with operations across the UK, Canada and the US, SuperAwesome, a global high-growth digital marketing business whose technology platform enables brands and agencies to deliver kid-safe digital advertising to under-thirteen audiences and Pixomondo, the VFX house behind the Emmy-winning HBO series Game of Thrones and the Oscar-winning 2011 film Hugo, as well as seven other promising growth businesses.


Bain & Company, along with CVC, finalise terms of investment in EcoVadis

New collaboration enables further integration of sustainability, fair labor practices and ethics into enterprise supply chains and business commerce

Bain & Company today announced it has made a minority investment in EcoVadis, the world’s most trusted provider of business sustainability ratings for global supply chains. The collaboration will accelerate and deepen both companies’ offerings for improving the environmental, social and governance (ESG) performance of their collective clients.

Focused on creating “the highest levels of value” for its clients, Bain & Company notes a comprehensive emphasis on economic, social and environmental value in its aims. This indicates a growing acknowledgement across the firm and the global industries it serves —including private equity, consumer products, energy, finance, and technology—that the purpose of business must go beyond the singular focus of maximizing shareholder value.

Bain & Company will integrate EcoVadis’ sustainability ratings into its approaches to corporate strategy, supply chain and procurement. They will also seek to develop a focused approach around specific offerings for financial investors across fund strategy, diligence and post-acquisition.

Bain & Company’s investment, coupled with EcoVadis’ recently secured c.$200m investment from CVC Growth Fund II, will enable EcoVadis to scale growth and maximize its impact on  enterprise supply chains, embedding sustainability into business decision-making and corporate performance.

“Recognizing that social and environmental challenges are growing, timelines for addressing them are contracting, and companies are moving quickly to adapt, Bain & Company is committed to our mission of creating value – economic, social, and environmental – for our clients,” said Jenny Davis-Peccoud, co-head of Bain & Company’s global Sustainability & Corporate Responsibility Practice.

Practice co-leader Jean Charles Van den Branden, commented, “Joining forces with EcoVadis, which has a strong presence and reputation, as well as access in the ESG space, directly supports our strategy and enables us to create a highly differentiated offering across our various practice areas.”

“Bain & Company’s investment represents another substantial milestone for EcoVadis. The investment is a strong testament to the value and business-critical role that sustainability plays in today’s market,” said Pierre-Francois Thaler, co-CEO and co-founder of EcoVadis. “We continue to see executives from all over the world share bold plans for sustainability and ESG transformation. Collaborating with Bain & Company and CVC equips us to reach, enable and impact more organizations and communities globally.”

“Environmental, social and governance issues are critical to business success, economic growth and societal improvement, and we are looking forward to working closely with two partners who rightly place these factors at the core of their business strategies,” said Aaron Dupuis, partner, CVC Growth Partners. “This collaboration with Bain & Company coupled with our recent investment is a real game changer for EcoVadis, and we are excited to back this new partnership with the full weight of the CVC network.”

Shippeo raises €20 million to provide real-time visibility into the global supply chain

Ngp Logo

Shippeo, the leading supply chain visibility provider in Europe, announces the closing of a €20 million Series B round co-lead by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures and Partech.

Shippeo provides predictive and real-time visibility into goods delivery. The AI-based platform aggregates data from hundreds of sources in real-time to calculate the estimated time of delivery arrival with 98% accuracy. Since its creation in 2014, Shippeo has successfully scaled its operations and is now servicing more than 50 large customers, such as Schneider Electric, Carrefour, Eckes-Granini and Leroy Merlin, across 40 countries. The team has grown tenfold and Shippeo now employs 80 people in seven different offices across Europe.

Over the last year, Shippeo has increased its turnover by 300%, positioning itself as one of the fastest-growing start-ups in Europe.

The Series B round of €20 million in new equity is co-lead by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures. Partech, who participated in the Series A round, also took part in this new funding, reaffirming its trust in Shippeo and its long-term support to the management team

Pierre Khoury – CEO and Lucien Besse – COO of Shippeo, said:

“Welcoming top-tier investors is a great source of pride for Shippeo. Their international reach and strong experience in the mobility sector will be a major asset when implementing our ambitious strategy to become the global leader of a $6 billion market. By revolutionizing supply chain visibility, Shippeo aims to unlock value for shippers and carriers, and in the long run, reinvent freight transport.”

Bo Ilsoe, Partner of NGP Capital, stated: “Working with great entrepreneurs is our core mission at NGP Capital and we are honoured to join Pierre, Lucien and the talented Shippeo team in their continued journey. The supply chain industry is ripe for increased digitization and we look forward to adding-value to the company through our global model and network.”

Remy de Tonnac, Partner at ETF Partners, said: “Shippeo created an outstanding platform to help Shippers embrace the efficiency of « Industry 4.0 » with superb customer experience. Going forward, Shippeo’s platform will also help the transportation industry to have much better visibility on its environmental impact and thus will drive significant improvements here for the benefit of all stakeholders.”

Shippeo will use the Series B funding:

  • To further strengthen its market-leading position in Europe by multiplying the customer base times five while maintaining very high customer satisfaction,
  • To expand the team by 150 new recruits in data science, IT, sales and operations,
  • To triple its R&D investment in AI and automatization to achieve increased operational excellence and increased customer visibility into the supply chain.

The supply chain industry remains fragmented and underserved from a technology standpoint. With more than 600.000 road freight companies in Europe alone, digitization offers a tremendous opportunity for industry disruption and Shippeo is leading the way in decreasing fragmentation and increasing real-time visibility into freight delivery.

Nordstjernan divests its holding in PriceRunner

Nordstjernan

Nordstjernan has signed an agreement to divest its holding in PriceRunner, a company that provides a leading digital consumer service for price comparisons and product information from both online shops and brick-and-mortar stores, to the eEquity investment fund and Nicklas Storåkers.

PriceRunner was founded in 1999, and Nordstjernan has been the owner since 2016 with 35 percent of the shares in the company. PriceRunner has approximately 130 employees with operations and sites in Sweden, Denmark and the UK.

“Nordstjernan has been an owner of PriceRunner alongside Nicklas Storåkers and Karl‑Johan Persson. Together with the company’s management, we created an independent and competitive comparison service. The company is now entering a new stage of development, and I would like to extend my deepest thanks to management and employees for their efforts. I am pleased that an experienced investor like eEquity will be a new owner of PriceRunner”, says Peter Hofvenstam, President and CEO of Nordstjernan.

The parties agree not to disclose the terms of the transaction.

Peter Hofvenstam
President and CEO
Nordstjernan AB

Questions will be answered by:

Peter Hofvenstam, CEO, Nordstjernan
E-mail: peter.hofvenstam@nordstjernan.se

Stefan Stern, Head of Communications, Nordstjernan
Telephone: +46 70 636 74 17
E-mail: stefan.stern@nordstjernan.se

Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term value growth. More information about Nordstjernan can be found on www.nordstjernan.se.

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Hg invests in smartTrade Technologies

HG Capital

Hg invests in smartTrade Technologies to accelerate its growth as a global leader in multi-asset electronic trading solutions

Hg’s support will help continue innovation and R&D, strengthening smartTrade’s position as one of the most technologically advanced players in the industry

Hg, Europe’s leading software investor, today announced that it has entered into an agreement to acquire stakes from Keensight Capital and Pléiade Venture in smartTrade Technologies (“smartTrade”), a leader in multi-asset electronic trading solutions, headquartered in Aix-en-Provence, France.  David VINCENT, CEO & co-Founder, and the smartTrade management team will remain invested in the business alongside Hg.

smartTrade is a managed services and hosted software provider for trading desks and a global leader in this sector. smartTrade’s liquidity management solutions enable financial institutions to develop and run high-performance trading platforms throughout the world. The business has expanded rapidly in recent years and today has a global client base, with subsidiaries around the world, including in London, Geneva, Milan, New York, Tokyo and Singapore.

Hg has been investing in Capital Markets and Wealth and Asset Management technology for almost 20 years and has known the smartTrade team since 2015. During this time Hg has recognised smartTrade as a truly innovative business, which has developed leading, modular solutions (LiquidityFX and smartFI), used by sell-side and buy-side market participants. With an exceptional leadership team, smartTrade has achieved industry-leading technology credentials supported by well-run operations, with continued potential for growth, making it a compelling fit with Hg’s expertise and capabilities.

Hg’s investment will be made from the Mercury 2 Fund and represents the firm’s 7th investment in technology businesses serving the Capital Markets and Wealth and Asset Management sectors, including previous investments such as Ullink, a global multi-asset trading technology software provider (Paris); and more recently FE fundinfo, the global fund data and technology leader (London and Zurich).

David VINCENT, Chief Executive Officer & Co-Founder at smartTrade Technologies, said: “The success of our business is based on continued innovation and technological advancement, putting R&D at the heart of our business. Welcoming Hg, a real expert in software and technology in this sector, creates a truly compelling offering. I am personally very excited about the prospects of the business. Keensight Capital and Pléiade Venture have played a decisive role in our growth to date, and we are grateful of their involvement. Now, with Hg’s support, alongside the smartTrade team, I am committed to further developing a great service for our customers, as they look to modernise their own systems.”

This proposed investment is subject to French workers’ council consultations and customary clearances. The terms of the transaction are not disclosed. Hg was advised on the investment by White & Case, Deloitte and Bryan, Garnier & Co. smartTrade was advised by Arma Partners and Hoche Partners.

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Funds advised by Apax Partners and NB Renaissance Partners sell their stake in Engineering Group

Apax

5 February 2020

Rome — Feb. 5, 2020: Funds advised by Apax Partners (the “Apax Funds”) and NB Renaissance Partners (“NBRP”) today announced that they have agreed to sell their stake in Engineering Group, a leading IT services provider, to a consortium of Bain Capital Private Equity and different funds advised by NBRP.

Headquartered in Rome, Engineering is a leading IT services provider focused on digital transformation with more than 11,000 professionals in 65 locations across the world. The company designs, develops and manages innovative IT solutions for business areas where digitalisation is having the biggest impact.

In 2016 the Apax Funds alongside NBRP, the founder Michele Cinaglia and key senior managers acquired Engineering in a take private transaction which saw the business delist from the Milan Stock Exchange. Since then, Apax and NBRP have worked closely with the management team to deliver strong organic growth and execute an accretive M&A strategy. During the Apax Funds and NBRP’s four-year tenure, both revenue and EBITDA grew by +11% CAGR, reaching €1.3bn and €160m respectively, and the number of employees increased by c.3,000, reaching c.11,000. Over this period, the company completed 19 acquisitions both in Italy and abroad, acting as a consolidation platform in a fragmented market, with a track record of successful integration and expansion of its portfolio of proprietary solutions.

Gabriele Cipparrone, a Partner at Apax Partners, said: “Engineering has a leading position in the Italian IT Services market. Four years ago we saw the opportunity to leverage our significant expertise in IT Services to help Engineering accelerate growth. The company has delivered on its potential through a focus on organic and acquisitive growth. We would like to thank the CEO Paolo Pandozy and his team for the strong partnership and all they have achieved. We wish them all the best in the future.”

Paolo Pandozy, CEO of Engineering Group, said: “We would like to thank Apax Partners and NBRP for their insights and support over the years. Together, we have accelerated Engineering’s growth through investments in R&D and in innovation, as well as strategic acquisitions, which strengthened our leadership position in the Italian IT Services market.”

Michele Cinaglia, Founder of Engineering, said: “I am proud of what Engineering has achieved during the Apax Funds and NBRP’s ownership. I would like to thank them for their guidance and expertise over the last four years. We look forward to our continued success with NBRP and welcome Bain Capital Private Equity.”

The transaction remains subject to regulatory approvals.

The Apax Funds and NBRP’s selling funds were advised by Rothschild & Co (financial adviser), Simpson Thacher & Bartlett and BonelliErede (legal advisers) and PwC (tax adviser).

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare, and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

About Engineering Group

With around 11,000 professionals in 65 locations, the Engineering Group designs, develops and manages innovative solutions for the business areas where digitalization is having the biggest impact. Through its activities, the Group contributes to modernizing the world in which we live and work, combining specialist competences in next-generation technologies, technological infrastructures organized in a single hybrid multicloud and the capability to interpret new business models. With significant investments in R&D, Engineering plays a leading role in research, by coordinating national and international projects thanks to its team of 420 researchers and data scientists and a network of academic partners and universities throughout Europe. One of the group’s key strategic assets is its employees’ know-how, to whose training it has dedicated a multidisciplinary School which has provided more than 21,000 days of training during the last year. Learn more: www.eng.it.

Apax Media Contacts 

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

IT Media: Giovanni Sanfelice, Tancredi Group | +39 366 111 5525 |

giovanni@tancredigroup.com

USA Media: Todd Fogarty, Kekst CNC | +1 212-521 4854 | todd.fogarty@kekstcnc.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

Notes to Editors 

London-headquartered Apax Partners (www.apax.com), and Paris-headquartered Apax Partners (www.apax.fr) had a shared history but are separate, independent private equity firms.

 

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EQT invests in RIMES, the global leader in Managed Data Services for financial institutions

eqt

  • EQT makes significant growth investment in RIMES, a leading global provider of Managed Data Services (MDS) and regulatory technology (RegTech) software solutions that address the complex needs of leading financial institutions
  • RIMES uses its proprietary technology, internal team of data management experts and relationships with 500 data partners to source, validate and configure market data in line with customer needs, ensuring superior data quality and reliability, reduced internal costs and increased operational flexibility
  • Together with RIMES’ CEO, President and Co-Founder Christian Fauvelais, EQT will support continued product innovation, further investment in technology and infrastructure, and organic as well as acquisitive growth by leveraging EQT’s global footprint and expertise across software, data and services

The EQT Mid Market Europe fund (“EQT Mid Market” or “EQT”) today announced a significant growth investment in RIMES (“the Company”), and together with Christian Fauvelais, RIMES’ CEO, President and Co-Founder, EQT will support and accelerate execution of the Company’s strategic vision.

RIMES serves the complex data needs of financial institutions with customized, scalable and cost-effective Managed Data Services and RegTech solutions. The Company pioneered the delivery of customized market and reference data via the cloud and has built a strong reputation for ensuring best-in-class data quality. Today RIMES serves more than 350 asset managers, owners, servicers and banks in 45 financial centres globally, including 60 of the top 100 global investment managers and 9 of the top 10 asset servicers in the world.

EQT will support RIMES’ vision to be the global leader in Managed Data Services across all forms of market and reference data, including benchmark, risk, ratings, fundamental, economic, alternative, ETF and ESG data. By further investing in RIMES’ technology and internal talent, EQT will support service extensions and enhancements as well as product innovations across RIMES’ offerings in data management and RegTech.

The investment in RIMES is in line with EQT’s commitment to invest in sustainable solutions, guided by the United Nations’ Sustainable Development Goals. RIMES is an emerging leader in ESG data for the investment management industry, contributing to society by providing high-quality data on sustainability and increasing transparency in the business community.

Victor Englesson, Partner at EQT Partners and Investment Advisor to EQT Mid Market, commented: “RIMES is perfectly aligned with EQT’s thematic investment approach and focus on software, data and services. EQT is excited to partner with Christian to support the continued development of RIMES and to help it achieve its full potential.”

Christian Fauvelais, CEO, President and Co-Founder of RIMES, said: “We are excited to partner with EQT for the next stage of our growth. EQT’s values strongly align with ours, and their expertise in data, software and services businesses makes them a great partner as we move to deepen our client relationships and further grow our presence in the data management space across all regions. The partnership will accelerate our ongoing commitment to our existing clients across data management and RegTech and allow us to increase the pace at which we can invest in new technology and infrastructure to bring new solutions to the market, including in areas such as ESG and ETF data.”

Robert Maclean, Managing Director at EQT Partners and Investment Advisor to EQT Mid Market, concluded: “We have been very impressed by RIMES’ achievements, and EQT looks forward to working with the team during the next stage of the Company’s growth, driven by continued investment in core solutions, support for the recently launched services in ESG and ETF data, and further enhancement of RIMES’ data management and RegTech offerings.”

The transaction is subject to customary conditions and approvals and is expected to close in the first quarter of 2020.

Contacts
Victor Englesson, Partner at EQT Partners and Investment Advisor to EQT Mid Market, +46708218440
Robert Maclean, Managing Director at EQT Partners and Investment Advisor to EQT Mid Market, +442033729427
EQT Press office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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

About RIMES
RIMES is an award-winning data management and regulatory technology specialist that truly understands the challenges faced by its customers. It serves over 350 asset managers, owners, servicers and banks in 45 countries including 60 of the 100 largest global asset managers by AUM and 9 of the top 10 asset servicers in the world.

More info: www.rimes.com

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MediFox and DAN Produkte merge to create MediFox DAN Group

HG Capital

Medifox, a leading provider of software solutions to outpatient, inpatient care providers and therapy practices in Germany, has announced the merger with DAN Produkte (“DAN”), a leading German care software provider with a strong presence in inpatient care.

Transaction brings together two leaders of software innovation for the care industry, further strengthening solutions for outpatient and inpatient care providers across Germany

Together, MediFox and DAN have a 55-year history of setting new standards in product innovation and customer service across the care sector. The merger will bring together deep software and industry expertise from both businesses, leading to a number of advantages for customers, employees and other stakeholders: including faster responsiveness to regulatory changes, higher service availability and quality and increased capacity for product innovation. The two companies will form MediFox DAN-Group and will continue to invest in all existing product lines, as well as jointly develop new functionality and improvements. The group will continue to consider further acquisitions.

Hg, the specialist private equity investor focused on software and service businesses, announced its investment in MediFox in 2018 and, today, Hg has invested over $1 billion globally in the healthcare technology sector.

For more information, as well as comments from the MediFox and DAN management teams, please find the full announcement here.

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MediFox and DAN Produkte merge to create MediFox DAN Group

HG Capital

Medifox, a leading provider of software solutions to outpatient, inpatient care providers and therapy practices in Germany, has announced the merger with DAN Produkte (“DAN”), a leading German care software provider with a strong presence in inpatient care.

Transaction brings together two leaders of software innovation for the care industry, further strengthening solutions for outpatient and inpatient care providers across Germany

Together, MediFox and DAN have a 55-year history of setting new standards in product innovation and customer service across the care sector. The merger will bring together deep software and industry expertise from both businesses, leading to a number of advantages for customers, employees and other stakeholders: including faster responsiveness to regulatory changes, higher service availability and quality and increased capacity for product innovation. The two companies will form MediFox DAN-Group and will continue to invest in all existing product lines, as well as jointly develop new functionality and improvements. The group will continue to consider further acquisitions.

Hg, the specialist private equity investor focused on software and service businesses, announced its investment in MediFox in 2018 and, today, Hg has invested over $1 billion globally in the healthcare technology sector.

For more information, as well as comments from the MediFox and DAN management teams, please find the full announcement here.

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