UK-based Moteefe secures £8 million credit facility from Espresso Capital

espresso capital

London — November 23, 2021 — Espresso Capital announced today that it has provided London-based Moteefe, the ecommerce platform providing infrastructure, customization, and global fulfillment for retailers of all sizes, with an £8 million credit facility. The company will use the capital to further enhance its platform and make strategic investments in its sales and marketing.

“With this non-dilutive financing from Espresso, we’re able to accelerate our efforts to expand our offerings, bringing best-in-class, print-on-demand enterprise solutions to market,” says Mathijs Eefting, CEO of Moteefe. “The next generation of our platform will be more agile and API led, enabling a variety of new expansion opportunities.”

Moteefe has developed a unique fully integrated supply chain platform leveraging leading on-demand suppliers worldwide to provide a wide variety of customized products. On-demand ecommerce has seen tremendous growth in recent years, with larger retailers becoming increasingly interested in the space. Moteefe’s end-to-end ecommerce platform enables anyone to set up an online store or offer customized products on their own site in minutes.

“We’re pleased to be able to provide Moteefe with the capital they need to accelerate their efforts to bring a leading enterprise print-on-demand solution to market,” says Espresso Managing Director Will Hutchins. “Mathijs and his team have a differentiated platform, are well-placed to capitalize on prevailing market trends toward customization and sustainability, and are backed by leading investors.”

“Working with Espresso is about more than just accessing capital,” notes Eefting. “In a very short period of time, we’ve developed strong relationships with the team there. It already feels like we’ve added a true partner to the business.”

Moteefe’s existing investors include BGF, Force Over Mass Capital, and Gresham House.

About Moteefe

Moteefe, founded in 2015, enables brands and retailers of all sizes to offer unique and personalised merchandisable products within minutes. It is the only technology enabled end-to-end e-commerce solution to manage the entire production and fulfilment of high quality, on demand, customised products globally. Every order is produced and routed as close to the end-consumer as possible for cost and carbon reduction. With offices in London, Lisbon and Hanoi, and 20 fulfilment partners around the world, Moteefe is a Deloitte Technology Fast 50 and Technology Fast 500 EMEA company.

About Espresso Capital

Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 300 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at espressocapital.com.

Media contact

Kevin Cain
Head of Marketing, Espresso Capital
kcain@espressocapital.com

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Eurazeo signs an agreement to invest in Neoxam, a provider of front-office, middle-office and back-office software for financial institutions

Eurazeo

Eurazeo, via its Small-Mid Buyout team is today announcing the signature of an agreement with a view to investing in NeoXam, alongside its founder Serge Delpla and its management team led by Florent Fabre.

Under the agreement, Eurazeo would invest more than €100 million, thus becoming the group’s majority shareholder. Historical partners (led by Cathay Capital and BPI), shareholders since 2018, would sell their share in this occasion.

NeoXam was created in 2014 following a carve-out from Sungard and a series of acquisitions adding complementary solutions. It now has 550 employees, of which half in R&D, across 15 offices worldwide. The company provides “data-centric” solutions used by more than 120 clients – large asset managers, financial institutions, and global banks – to structure their IT systems. NeoXam solutions cover everything from Front Office (Portfolio Management System) to Back and Middle Office, accounting (NAV) and regulatory and client reporting teams. Clients on all continents – in Europe, the US, Canada and Asia, particularly Singapore and mainland China – have chosen NeoXam for its functional and technological expertise.

Over the last four years, NeoXam has deployed its global growth strategy while also developing its business model. It has transitioned away from upfront licences to SaaS subscriptions, which now account for more than half of its revenue (€75 million) and make the company highly resilient.

Through its investment plan, Eurazeo is willing to support NeoXam in continuing ramping up growth, particularly in the Data Management and Reporting segments, and expanding internationally (particularly in Asia, the UK and US). Eurazeo also plans to provide NeoXam with its internal resources, helping NeoXam to pursue its buy-and-build strategy to complement its range of services and client base, and to accelerate its international expansion.

To achieve this, Eurazeo would give NeoXam access to its global network and expertise in developing businesses throughout their growth phase, in order to strengthen the global leading position of this asset management solution provider.

Serge Delpla, founder of NeoXam, said:

“With Eurazeo’s support, NeoXam could add a new dimension to its international growth strategy. Our products, which are used by most of the global top 20 asset managers in locations such as NY, London and Singapore, have proven their value as extraordinarily useful tools, particularly in the rapidly developing fields of Data Management and Reporting. Eurazeo would be an ideal partner, combining extensive investment capabilities, an exceptional international network and a rare understanding of the entrepreneurs it supports. We hope to enter into a partnership in the very near future, to enable NeoXam to reach its full potential.”

Florent Fabre, Managing Director of NeoXam, added:

“We are confident that Eurazeo is the best partner to accompany NeoXam in the next chapter of our story. On top of all the resources that Eurazeo can offer, its teams share with us the same human and entrepreneurial essential values, which will help us to work together to complete the next phase of our growth strategy. We will more than ever focus on the continuous investment in our solutions, client satisfaction and our workforce fulfilment.”

Pierre Meignen, Managing Director of Eurazeo’s Small-Mid Buyout team, said:

“The opportunity to work alongside NeoXam fits perfectly with our investment strategy. The company has an extremely resilient business, its core business areas displaying growth over 20% p.a. Its strong global presence will help boost growth and its teams are immensely talented.”

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Lutech, backed by the Apax Funds, enters into exclusive negotiations to acquire Atos Italia S.p.A., creating a new leader in digital transformation

Apax

Lutech, an IT services, software and technology company in Italy and other parts of Europe, and a portfolio company of funds advised by Apax Partners LLP (“Apax Funds”), today announced it has entered into exclusive negotiations with Atos Group to acquire Atos Italia S.p.A.[1] (“Atos Italia”).

Operating across 6 diversified verticals, and servicing major Italian companies, Atos Italy has built a very solid franchise and benefits from a strong reputation in the IT services market, with a total of approximately 1,600 skilled employees in over 5 sites across the country.

Following the acquisition of Lutech by the Apax Funds in 2021, this transaction is an important step towards creating a market leader in the rapidly evolving digital transformation sector. This combination will help drive increased scale, strengthen Lutech and Atos Italia’s offering by adding complementary expertise, while also bolstering their presence in strategic sectors. The integration between the two companies will take place gradually, ensuring business continuity and high level of customer service and support.

“This is an important announcement that brings together two major players in the Italian IT market”, announced Tullio Pirovano, CEO of the Lutech Group. “Today’s news is a fundamental step towards achieving our goal, in partnership with Apax, of creating a leading Italian company in the digital transformation space. This transaction brings together two cutting-edge companies, combining our skills and cultures and consolidating our leadership position as an end-to-end player in the digital market.”

Gabriele Cipparrone, Partner at Apax, added: “We are proud to partner with Lutech in this transaction. When the Apax Funds first invested in Lutech we saw the opportunity to consolidate the Italian IT services market, and this transaction is a crucial step in that process. By combining the complementary scale, expertise, and capabilities of Lutech and Atos Italia into one group, we are creating a leading provider in the market that can offer an even wider suite of products and services to clients across a more diversified set of sectors. We are excited to partner with both teams to deliver on our ambitious growth plans.”

“A new leading company will be born to enhance the country’s digital growth and support our customers.” declared Giuseppe Di Franco, President and CEO of Atos Italia. “The entire management team is proud to announce that today we have taken a further step in the consolidation of the Italian digital market. The new company will benefit from continued cooperation with the Atos Group to manage global operations in Italy and abroad. We will be able to use the combined skills of Atos Italia and Lutech, and our complementarity will allow us to better serve companies in their digital transformation journeys.”

Lutech and Apax Partners LLP were supported by several advisors, including Bain & Company (commercial advisor), Legance (legal advisor), PCB Partners (M&A advisor), and PWC (financial and tax advisor).

The transaction is subject to the consultation with representative bodies and other regulatory approvals, with closing expected in H1 2023.

 

About

Lutech Group

Lutech Group, Italian leader and European player in ICT services and solutions, supports the evolution of its clients by designing, implementing and managing end-to-end digital solutions, with a view towards continuous improvement which involves people and processes, technology and knowledge.

Evolution and transformation require a new way of interacting and connecting people, data and technologies. Lutech Group places at the foundation of the Digital Evolution five technological core entities designed to provide a complete and integrated offering, able to meet the manifold needs of digitization: LutechSolutions, LutechDigital, LutechCybersecurity, LutechServices and LutechCloud.

For more information, visit www.lutech.group

About Apax

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com

 

[1] The transaction will not include Atos Italia’s UCC operations and EuroHPC’s contracts.

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CVC Credit provides debt facilities to support Partners Group’s acquisition of Version 1

CVC Capital Partners

CVC Credit is pleased to announce that it has committed senior debt facilities to support the acquisition of Version 1, a leading digital transformation services provider in the UK and Ireland, by Partners Group, a leading global private markets firm, acting on behalf of its clients.

Headquartered in Dublin, Version 1 works with private and public sector clients on complex digital transformation programmes and is a leader with a competitive edge coming from their technical expertise, data-drive commercial model and superior customer service capabilities. Version 1 has approximately 450 clients, including blue-chip companies and central government departments, and 2,100 employees across offices in Ireland, the UK, India, and Spain.

Quotes

I am delighted that we were able to secure our position as a partner for this opportunity, our third investment into Partners Group-backed companies.

Andrew Davies Partner and Co-Head of Private Credit

Moris Nachmias, Director at CVC Credit, commented: “Version 1 is a high quality business with a proven track record of above market organic growth, fuelled by its strong technical expertise and high quality management team. We are very pleased to be backing Partners Group’s vision for the future of this business, which we were able to swiftly verify through our prior institutional experience in the sector.”

Andrew Davies, Partner and Co-Head of Private Credit at CVC Credit added: “I am delighted that we were able to secure our position as a partner for this opportunity, our third investment into Partners Group-backed companies. Our aim is always to partner with top-quality sponsors, businesses and management teams, and this is certainly the case with Version 1.”

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Xeneta Raises $80 Million led by Apax Digital

Apax

Investment to Fuel Expansion of Xeneta’s Breakthrough Container Shipping & Air Cargo Market Analytics Platform

Xeneta, the leading ocean and air freight rate benchmarking and market analytics platform, today announced an $80 million investment at a $265 million valuation led by funds advised by Apax Digital, the growth equity arm of Apax, a leading global private equity advisory firm, with participation from NY-based Lugard Road Capital. With this investment, Xeneta will accelerate investments in platform development and continue scaling its global commercial teams. This will support expansion into new markets as companies seek to develop resilient supply chains to counter global trade volatility.

A global pandemic, geo-political uncertainty, and climate-related events have led to an unpredictable market where supply and demand continue to shift, leaving supply chain, logistics, and transportation professionals scrambling for visibility. As organizations undergo efforts to navigate instabilities in the market, access to readily available and actionable freight rate data has emerged as a strategic priority. In this new context, ocean shipping and air cargo transportation costs have been elevated to company board-level discussions. Additionally, in an increasingly data-driven world, procurement, finance, and other corporate functions cannot operate effectively without data that is fit for purpose.

Xeneta stands in stark contrast to other shipping rate and index solutions by providing organizations with the world’s largest, neutral and most accurate data source of real-time, on-demand ocean container and air freight rate market intelligence, whether for long-term contracts or spot trades. The Xeneta platform delivers the one-two punch that modern companies look for in digitizing their overall freight procurement or selling operations by providing access to an unrivaled amount of rate data (with 10 million rates added a month), as well as incorporating advanced analytics and visualization. The all-in-one platform delivers further value by providing data and insights on capacity, reliability, blank sailings, detention and demurrage, dynamic load factor, emissions data, and more.

Xeneta’s novel crowdsourced approach levels the playing field for ocean and air freight buyers and sellers offering benchmarking, tendering, budgeting, planning, and reporting capabilities. Amidst global supply chain and logistics challenges, Xeneta’s intelligence ensures that companies’ cargoes get to where it needs to be, when it needs to be there, all at the right price.

“While global trade tries to get back on its feet after a couple of years of uncertainty, it’s clear that the overall logistics industry requires a re-think of how freight is bought and sold. This new funding will help us accelerate development of our platform and add even more datasets to enrich our expert industry analyses to further drive transparency in the market,” said Xeneta CEO and Co-founder Patrik Berglund. “We are proud to have a renowned global fund like Apax Digital and its expert operational team to work alongside us as we enter our next stage of growth.”

Mark Beith, Partner at Apax Digital, who joins the company’s Board of Directors, said: “Buyers and sellers of freight have been flying blind in a complex and opaque market. Xeneta’s world-leading dataset and cutting-edge platform provide unique access to granular real-time information and insight, enabling data-driven freight sales and purchases. This delivers compelling value for their blue-chip customer base – not just in sales or procurement, but also in budgeting and reporting, and increasingly in ESG monitoring. We’re thrilled to partner with Patrik and the Xeneta team and help deliver their vision.”

Xeneta’s customer portfolio includes amongst others: Electrolux, Unilever, Nestle, Zebra Technologies, Thyssenkrupp, Volvo, General Mills, Procter & Gamble, and John Deere.

About Xeneta

Xeneta is the leading ocean and air freight rate benchmarking and market analytics platform transforming the shipping and logistics industry. Xeneta’s powerful reporting and analytics platform provides liner-shipping and air cargo stakeholders the data they need to understand current and historical market behavior, reporting live on market average and low/high movements for both short- and long-term contracts. Xeneta’s data comprises more than 300 million contracted container and air freight rates and covers more than 160,000 global trade routes. Xeneta is a privately held company with headquarters in Oslo, Norway, with regional offices in New Jersey, USA, Hamburg, Germany, and Copenhagen, Denmark. To learn more, please visit www.xeneta.com.

About Apax and Apax Digital

The Apax Digital Funds specialize in growth equity and growth buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide. The Apax Digital team leverages Apax’s deep tech investing expertise, global platform, and specialized operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. For further information, please visit www.apaxdigital.com.

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Oakley invests in global legal information platform vLex

Oakley

Oakley Capital (“Oakley”), the pan-European private equity investor, is pleased to announce that Oakley Capital Origin Fund is partnering with the founders of vLex, a cloud-based legal information subscription platform.

 

Founded by brothers Lluis and Angel Faus and headquartered in London, Miami and Barcelona, vLex provides over two million users with access to an online library of global legal and regulatory information including case law, legislation, journals and dockets from over 100 countries. vLex’s scalable and smart data ingestion process, coupled with AI-powered search engine functionality makes research and analysis faster and easier, increasing productivity for users. The Company’s diverse customer base includes law firms, universities and law schools, government agencies and corporates across Europe, Africa, Asia, Oceania, the Caribbean, and the Americas.

Icons8 Add To Cloud

Cloud-based, online subscription platform offering easy access to global legal & regulatory information

Icons8 Crowd

Clients include law firms, universities, corporations and government agencies

Icons8 Increase

Digitisation and increasing legal and regulatory complexity driving growth in $21bln global LegalTech market

Quote Peter Dubens

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Interstellar completes significant refinancing with Barings

Quadrum Capital

Further support in long-term growth strategy

Woerden, 26th of August 2022 – Interstellar Group (Interstellar) has completed a significant refinancing with international investmentcompany Barings. With the new partner on board, Interstellar will be further supported in its long-term growth strategy. Corporate finance consultant Nielen Schuman advised Interstellar on the refinancing.__

image

Interstellar

Interstellar was launched in January 2021 with the help of private equity investor Quadrum Capital. It is a collection of successful Managed Service Providers and specialists in the field of Cloud, Cybersecurity and Collaboration. Interstellar has more than 650 employees and a combined turnover of EUR 150 million. Since its launch eighteen months ago, Interstellar has made nine acquisitions and has become one of the fastest-growing IT providers in the Netherlands, with an average annual growth in turnover of 100%.

Several acquisition projects are currently underway, some of which are expected to be announced in the fourth quarter. “Interstellar has developed strongly in the past year and a half, driven by strong organic growth and targeted acquisitions. Also for the coming period we have a very ambitious plan to further expand the portfolio and the area of activity. I am therefore very pleased that we are partnering with Barings to provide the financing for this,” says Interstellar CEO Maarten van Montfoort. “We are proud that a world-class player supports our growth strategy and expresses confidence in our mission to become the most relevant IT service provider in the Netherlands.”

“It is great that we have been able to do such a significant transaction at this time with a leading financial partner like Barings,” said Investment Director Gert van Drie of Quadrum Capital. “We at Quadrum Capital are also committed to Interstellar’s growth ambitions and look forward to the developments in this next phase with great confidence.”

“Interstellar is a wonderful organisation with which we have gone through a very professional process. There was a lot of enthusiasm from the market for this refinancing. We believe that the financing provided by Barings is the best fit for Interstellar’s growth ambitions,” says partner debt advisory Rafael Gomez Nunez of Nielen Schuman.

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Guesty Raises $170 Million to Power the Next Generation of the Hospitality and Property Management Industry

Apax

The round will accelerate Guesty’s international business growth, fuel continued expansion into new verticals, and enhance its industry-leading property management technology and platform to meet the evolving needs of every type of hospitality operator

Guesty, the leading property management platform for the short-term rental and hospitality industry, today announced it has raised a $170 million funding round, led by the Apax Digital Funds, MSD Partners and Sixth Street Growth. Existing investors Viola Growth and Flashpoint also participated in the round. The Series E capital will be used to scale the company’s global operations to meet increasing demand, pioneer new solutions that support the growing needs of hospitality operators, secure key acquisitions, and expand into new business verticals to solidify Guesty’s position as the industry’s gold-standard property management platform.

“Despite an exceptionally challenging fundraising climate, the funding Guesty has raised is a vote of confidence in the travel and short-term rental ecosystem, and an endorsement of our pioneering technology and position as the market leaders of the hospitality and property management software sector,” said Guesty’s Co-founder & CEO, Amiad Soto. “As alternative accommodations surge in popularity, Guesty has come out a clear winner thanks to our commitment to prioritizing innovation and ability to help our customers become more successful. We thank our existing partners Apax – who are increasing their commitment to Guesty – and are excited to welcome aboard MSD Partners and Sixth Street, whose strong track records in our ecosystem make them ideal long-term partners. As we continue to expand globally and grow our market leadership, we look forward to providing hospitality managers with even more value in the coming months and years.”

Since the onset of the pandemic in early 2020, the short-term rental (STR) industry has grown exponentially, with travelers spending more than $200 billion on STR accommodations in 2021 alone. As the ways consumers choose to live, work, socialize and travel continue to shift, the lines between traditional hotels and rental accommodations have blurred. This trend has accelerated the need for versatile hospitality management technology as operators across the board adapt to new and elevated guest expectations. Guesty’s solution equips hospitality providers of all sizes and accommodation types with an all-encompassing platform to optimize and scale operations, manage and distribute inventory – along with the tools, data-driven insights and enhanced services to effectively respond to these market trends and empower them to succeed.

Customers use Guesty to centralize their reservations across all major booking channels, including Airbnb, Vrbo, Expedia and Booking.com. The platform automates and expedites guest communications, reviews, cleaning and other operational tasks, while also facilitating direct bookings, resource and revenue management, smooth payments systems, accounting and damage protection. With its large marketplace of third-party integration partners and its open API capabilities, the platform adapts to specific business and operational requirements, providing comprehensive and bespoke solutions that serve as a one-stop-shop covering all property management needs.

“As alternative property management operations become more complex, Guesty is paving the way for the next generation of digital hospitality services,” said Dave Evans, Partner at Apax Digital. “Their track record of success and innovation, along with their platform’s growing suite of tools and intuitive user experience has Guesty positioned to define and consolidate its category, working with hosting businesses of all sizes. We are excited to continue partnering with the company as it continues to transform the industry.”

“In a largely specialized and localized industry, there is a huge opportunity to bring a global standard of service and excellence to hospitality operators of all shapes and sizes,” said Dan Bitar, Managing Director and co-Head of MSD Growth. “Guesty’s robust product offerings, strong R&D team, and proven ability to scale the business across geographies make it the ideal platform to consolidate the currently fragmented market.”

“The tech-enabled real estate ecosystem continues to grow and mature, and we look forward to joining Guesty on its journey to democratize and further professionalize the property management space,” said Michael McGinn, Partner and Co-Head of Sixth Street Growth. “With Guesty’s strong management team, long-term vision, product innovation, and marquee customers and partners, we have full confidence in the company’s ability to further cement its leadership in the world of hospitality and property management.”

The latest funding round comes at an exciting time for Guesty, having tripled its valuation and doubled its revenues since its last raise. In 2021 and 2022, Guesty launched numerous new products, services and technology partnerships as part of its core platform – including advanced accounting tools, damage protection offerings and payment solutions tailored for property management of short-term rentals. The company’s sustained growth has it positioned to reach $100 million in revenues within the next year. Guesty previously acquired property management platform companies MyVR and YourPorter and plans further acquisitions in the near future.

J.P. Morgan Securities LLC acted as sole placement agent on the transaction.

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KKR Completes Acquisition of Barracuda from Thoma Bravo

KKR

NEW YORK & SAN FRANCISCO–(BUSINESS WIRE)– KKR, a leading global investment firm, and Barracuda Networks, Inc. (“Barracuda” or the “Company”) a leading provider of cloud-first security solutions, today announced that KKR’s investment funds have completed an acquisition of Barracuda from Thoma Bravo, a leading software investment firm. Financial terms of the transaction were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220816005239/en/

Barracuda is a cloud-first provider of cybersecurity solutions for small and medium sized enterprises (SMEs). More than 200,000 customers worldwide count on Barracuda to protect their email, networks, applications, and data.

“We’re ready to deliver on our next phase of growth with KKR and remain dedicated to investing in our team and product portfolio to provide innovative cybersecurity solutions for our customers and partners,” said Hatem Naguib, CEO of Barracuda. “We‘re grateful to Thoma Bravo for their valuable strategic and operational support over the last four years.”

“We are excited to complete this transaction and begin working with the Barracuda team to support their continued growth and delivery of next generation cloud-first cybersecurity solutions that protect SMEs from an evolving landscape of threats,” said John Park, a Partner at KKR.

“Barracuda has been a tremendous partner over the last four years and has experienced strong product, customer and revenue growth,” said Chip Virnig, a Partner at Thoma Bravo. “We have enjoyed working closely with Hatem and his team through multiple acquisitions and operational improvements, and we are confident that the company is well-positioned for continued success.”

J.P. Morgan served as exclusive financial advisor to Thoma Bravo and Barracuda. Kirkland & Ellis LLP served as legal counsel to Thoma Bravo and Barracuda. Simpson Thacher & Bartlett LLP served as legal counsel to KKR. Guggenheim Securities, DBO Partners and Barclays served as financial advisors to KKR.

About Barracuda Networks

At Barracuda we strive to make the world a safer place. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. We protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers’ journey. More than 200,000 organizations worldwide trust Barracuda to protect them – in ways they may not even know they are at risk — so they can focus on taking their business to the next level. For more information, visit www.barracuda.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as 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 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 Thoma Bravo

Thoma Bravo is one of the largest private equity firms in the world, with more than $114 billion in assets under management as of March 31, 2022. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm’s deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired or invested in more than 380 companies representing over $190 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco. For more information, visit www.thomabravo.com.

Media

For Barracuda Networks:
Jonelle Elam
408-813-7762
jelam@barracuda.com

For KKR:
Julia Kosygina
212-750-8300
media@kkr.com

For Thoma Bravo:
Thoma Bravo Communications
Megan Frank
(212)-731-4778
mfrank@thomabravo.com

or

FGS Global:
Nicky Bryan
(646)-436-6126
nicky.bryan@fgsglobal.com

Source: KKR

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DIF CIF II portfolio company Joink has signed an agreement to acquire CTI

DIF

DIF Capital Partners is pleased to announce that its DIF CIF II portfolio company Joink, LLC, has entered into a definitive agreement to acquire 100% of Computer Techniques, Inc. (CTI). This acquisition will provide additional management and capital resources to support the current CTI team and significantly increase the speed of CTI’s fiber-to-the-home deployment in Central Illinois. The acquisition is subject to regulatory approval.

CTI co-founders Adam Vocks and Billy Williams founded the company in 1998. Over the years the company has transformed from a computer sales and service business into a facilities-based provider that now exclusively services its connectivity customers with fiber optics. The CTI network passes over 12,000 homes across Christian County and Montgomery County, supported by staff from its offices in Taylorville and Hillsboro in Illinois. CTI provides internet, voice, and video to residential customers and internet, voice, and private transport data solutions to business customers.

“We are very pleased to see Joink executing on the growth plan and adding new markets in Illinois, through the acquisition of CTI,” stated Willem Jansonius, Partner and Head of Investments for the DIF CIF strategy. “The strategic rationale of the CTI acquisition is fully aligned with our fiber-to-the-home roll out strategy to ensure that the residents in Indiana and Illinois have reliable high-speed internet access. This highly complementary acquisition by Joink will allow it to serve customers better and continue to further bridge the digital divide.”

“We look forward to integrating CTI’s operations and team led by Bobbie Dean, CTI’s CEO, who will be part of the senior leadership team of Joink, after the transaction closes. Central Illinois had a great day today as we announce our plans to accelerate the expansion of CTI’s fiber network.” stated Josh Zuerner, President and CEO of Joink. “We recognize the importance of high-quality broadband and look forward to providing a best-in-class fiber-optic connectivity experience to end users in Illinois and Indiana.”

Pinpoint Capital Advisors served as financial advisor to CTI. Agentis Capital served as financial advisor to Joink and DIF.

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 14 billion in assets under management across eleven closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

  • Traditional DIF funds, of which DIF Infrastructure VI is the latest vintage, target core infrastructure equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and energy transition projects (incl. renewable energy).
  • DIF CIF funds, of which DIF CIF III is the latest vintage, target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.

DIF Capital Partners has a team of over 190 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact: Thijs Verburg, t.verburg@dif.eu.

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