Tag Archives: Information technology

Motive Partners Closes Sale of Avaloq to NEC

Motive Partners

New York, December 22, 2020 – Motive Partners today announced that it has completed the sale of Avaloq, a Swiss-based technology provider of digital banking solutions, core banking software and wealth management technology, to NEC Corporation, a Japan-based IT group, for CHF 2.05 billion. The sale agreement was first announced in October 2020. Motive Capital Fund 1 acquired a stake in the company in January 2018.

As the world witnesses a democratization of wealth management, Avaloq is well placed to capitalize on geographic expansion with its new partner, and to lead in digital banking solutions for high-end wealth management services and private banks globally. The democratization of the sector and digital inclusion is going to be an essential topic in the future as we see wealth shift geographies, classes and generations. Market trends continue to produce net flow and fee pressure and with an increase in competition, the industry is seeing further pressure on wealth managers to deliver more value to clients while simultaneously reducing the cost-to-serve. As the industry consolidates across markets in order to scale, Motive Partners seeks to capitalize on these trends.

Rob Heyvaert, Managing Partner of Motive Partners said: “We saw great potential in Avaloq as a result of its history as a global leader in wealth management technology, the opportunity for up-sell and cross-sell opportunities within its existing blue-chip client base, and the opportunity to support this client base through a transition to a cloud-based SaaS platform. Additionally, Motive Partners supported the company as it expanded beyond its traditional home market of Switzerland into the U.K., Germany, and APAC. We enjoyed this exciting journey working together with Avaloq, and with its strong leadership in place, we are confident that Avaloq will enjoy continued success as part of NEC.”
Francisco Fernandez, Founder and Chairman of Avaloq commented: “I have enjoyed working with Motive Partners a great deal, who have proven to be a very supportive investor. Led by industry experts, they shared our collective ambitions while providing the strategic support to allow Avaloq to achieve it’s potential, today and for many years to come. NEC’s geographic footprint and ability to continue investing heavily in R&D will set us in great stead for the future. I am deeply grateful to my partners at Motive Partners, with whom I have grown close to, and I look forward to continuing our friendship.”

About Motive Partners
Motive Partners is a specialist private equity firm with offices in New York City and London, focusing on control-oriented growth equity and buyout investments in software and information services companies based in North America and Europe and serving five core sub-sectors across business and financial services: Banking & Payments, Capital Markets, Data & Analytics, Investment Management and Insurance. Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies.
More information on Motive Partners can be found at www.motivepartners.com.

About Avaloq
Founded in 1985, Swiss-based Avaloq is a global leader in digital banking solutions, core banking software and wealth management technology. Avaloq provides powerful cloud computing solutions for banks and wealth managers through BPaaS and SaaS. Avaloq is the only independent banking software provider to develop and also operate its own software.
Its established core banking system is complemented by three innovative digital platforms – Engage, Wealth and Insight – providing end-to-end digital solutions at a level of simplicity that will pave the way for the democratization of wealth management. To further spur innovation, Avaloq connects its clients with selected Financial Technology companies through the Avaloq.one Ecosystem, the company’s open banking marketplace.
More than 150 banks and wealth managers with around CHF 4.5 trillion in assets managed worldwide trust Avaloq for its award-winning products and services. Avaloq has its headquarters in Zurich, Switzerland and employs more than 2,000 people around the world.
More information on Avaloq: An NEC Company can be found at www.avaloq.com.

Forward looking statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected timing and benefits of the transaction. Statements can generally be identified as forward- looking because they include words such as “believes,” “anticipates,” “expects,” “could,” “should,” or words of similar meaning. Forward-looking statements are subject to assumptions, risks and uncertainties that may cause actual results to differ materially from those contemplated by such forward-looking statements. The factors that may adversely impact the anticipated outcomes include, among others: the occurrence of any event, change or other circumstance that could give rise to the termination of the transaction agreement; conditions to the completion of the transaction may not be satisfied on the terms expected or on the anticipated timeline; and the benefits of the transaction may be different than currently anticipated. You should consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on such statements. Wilshire assumes no obligation to update any forward-looking statements, which speak only as of the date of this news release.

For more information please contact:
EMMA GLYN
Investor Relations, Motive Partners
emma.glyn@motivepartners.com

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Nordic Capital and Astorg invest in pharmaceutical technology and advanced analytics company Cytel

Nordic Capital

December 21 2020
Nordic Capital and Astorg invest in pharmaceutical technology and advanced analytics company Cytel Image

 

  • Cytel is one of the leading global providers of clinical trial design technology, biometric services and advanced analytics, focusing on optimizing clinical trials and helping pharmaceutical companies to unlock the full potential of their clinical and real-world data
  • Nordic Capital and Astorg will actively support and accelerate Cytel’s next phase of growth and innovation, drawing on their extensive experience of investing in healthcare and technology

Nordic Capital and Astorg today announced an agreement to jointly acquire Cytel Inc. (“Cytel”), from New Mountain Capital. Cytel is one of the largest providers of statistical software and advanced analytics for clinical trial design and biometrics execution. Building on Cytel’s advanced software platform and leading biometrics services offerings, the new owners will invest in the continued development of the business and its software. Cytel’s mission is to continue providing life sciences companies with cutting-edge clinical trial optimization technologies and harness the full value of their clinical and real-world data. Cytel’s management team, led by CEO Josh Schultz, will continue to lead the organization, building on a strong track-record of organic growth and strategic acquisitions.

Cytel is recognized as an industry pioneer of adaptive clinical trials and other innovative quantitative methods, helping biotech and pharmaceutical companies to reduce risk, increase R&D productivity and support medical innovation, improving speed, productivity and efficiency of clinical trials. The Company was founded over 30 years ago by renowned statisticians Cyrus Mehta and Nitin Patel, thought-leaders in statistical science, who will continue to be active in the Company.

Headquartered in Waltham, Massachusetts, Cytel has more than 1,500 employees across North America, Europe and Asia. Cytel’s software and services are used by over 500 life sciences customers, including the world’s 30 top pharmaceutical companies, as well as regulatory bodies such as the FDA.

“We are delighted to welcome Nordic Capital and Astorg as our new owners and partners. They have an extensive track-record of commitment to medicine and data science, and we share several common experiences in developing and growing leading healthcare and technology businesses. It is this common foundation of vision and values which makes them ideal to support our continued growth and strategy. With Nordic Capital and Astorg, we have strong new partners at our side with expertise networks, cultural fit and a focus on innovation and quality that will benefit both our customers and employees. I also want to thank New Mountain Capital for their support over the last several years. They have helped us achieve our strategic objectives and we are now ready to take the next step on our journey,” said Joshua Schultz, CEO, Cytel.

“Cytel is a fantastic company. We’ve been impressed with its unique position, outstanding reputation and trust within complex clinical trials and statistical science, and we look forward to supporting Cytel’s expansion in partnership with the management team and founders,” said Judith Charpentier, Partner and Head of Healthcare, Astorg. “Together, we will fuel Cytel’s growth, with a shared vision of building a leading provider of advanced analytics and software for the life sciences industry,” said Daniel Berglund, Partner, Nordic Capital Advisors.

“We are proud of Cytel’s leading position and growth in enabling clinical trial optimization for the advancement of life-saving therapeutics. Over the past three years, New Mountain supported the transformation of Cytel into a cutting-edge pharma technology and analytics platform through strategic acquisitions and organic business building,” said Kyle Peterson, Managing Director, New Mountain Capital. “New Mountain partnered with Cytel in 2017 as a result of the firm’s sector deep dive in life sciences and technology-enabled business service companies that both raise quality and lower cost. We believe in the strong value proposition of the Company and are confident that Cytel’s management, in partnership with Nordic Capital and Astorg, will continue the Company’s successful path forward,” said Matt Holt, Managing Director, and President of Private Equity at New Mountain Capital.

The terms of the transaction were not disclosed. The transaction is subject to customary regulatory approvals.

Barclays and Rothschild & Co served as financial advisors to New Mountain Capital.

About Cytel

Cytel is the largest provider of statistical software and advanced analytics for clinical trial design and execution. For over thirty years, Cytel’s scientific rigor and operational excellence have enabled biotech and pharmaceutical companies to navigate uncertainty, prove value and make confident, evidence-based decisions. Its experts deliver industry-leading software, data-driven analytics, real-world evidence and strategic consulting. Headquartered in Waltham, Massachusetts, Cytel has more than 1,500 employees across North America, Europe and Asia. For more information about Cytel, please visit us at www.cytel.com.

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 15.5 billion in over 110 investments. The most recent fund is Nordic Capital Fund X with EUR 6.1 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, Denmark, Finland, Norway, Germany, the UK and the US. For further information about Nordic Capital, please visit www.nordiccapital.com

Footnote: “Nordic Capital” refers to any, or all, Nordic Capital branded or associated investment vehicles and their associated management entities. Nordic Capital is advised by several non-discretionary sub-advisory entities, any or all of which is referred to as “Nordic Capital Advisors”.

About Astorg

Astorg is a leading independent private equity firm with over €9 billion of assets under management. We work with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the US, providing them with the strategic guidance, governance and capital they need to achieve their growth goals. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body. We have valuable industry expertise in healthcare, software, business-to-business professional services and technology- based industrial companies. Astorg has offices in London, Paris, New York, Frankfurt, Milan and Luxembourg. For more information about Astorg: www.astorg.com. Follow us on LinkedIn.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with $28 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com 

 

Press contacts

Cytel
Rebecca Grimm
VP, Marketing
Tel: +1 781 755 8032
e-mail: rebecca.grimm@cytel.com

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

Astorg
Stéphanie Tabouis
Publicis Consultants
Tel: +33 6 03 84 05 03
e-mail: stephanie.tabouis@publicisconsultants.com

New Mountain Capital
Dana Gorman / Claire Walsh
Abernathy MacGregor
Tel: +1 212 371 5999
e-mail: dtg@abmac.com / cw@abmac.com

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Redefining e-commerce logistics

Gp Bullhound

Berlin, 18 December 2020
GP Bullhound acted as financial adviser to the shareholders of R2G Polska, operating under the Apaczka brand (“Apaczka”), a leading automation-driven online shipment platform headquartered in Warsaw, Poland, on the sale of a majority stake to Poland-based private equity firm Abris Capital. Grzegorz Iwaniuk will continue in his role as CEO and will retain a minority stake in the business.

Since 2009, Apaczka has grown into the leading e-commerce logistics provider in Central and Eastern Europe focused on increasing efficiency throughout the value chain. Apaczka functions as a technology platform and an integrator, offering comprehensive shipment services for e-commerce stores, SMEs and SOHO (small office / home office) clients. It supports companies in the development of their business, providing professional tools to facilitate daily logistics, and over the past decade has made close to 30 million shipments for more than 160,000 customers.

Grzegorz Iwaniuk, co-founder and CEO of Apaczka, said: “In addition to continuing the current strategy of increasing our market share and strengthening our leadership position, we plan to drive the growth of the business further, with the support of Abris, through the development and implementation of new solutions for entities operating in the e-commerce industry. It was a pleasure working with GP Bullhound – their deep expertise in the software sector proved to be extremely valuable.”

Julian Riedlbauer, Partner at GP Bullhound, stated: “We are delighted to have helped Apaczka find the ideal partner for their next stage of growth. They are perfectly positioned to benefit from the ongoing growth of e-commerce spending globally, which has been further boosted in 2020 by the coronavirus pandemic.”

This represents GP Bullhound’s 21st transaction in the last 12 months, of which 14 were completed within the software space, including Bridgepoint’s $160m investment in Sendinblue, CVC’s $200m investment in EcoVadis, Wavecrest Growth Partners’ and Beringea’s $29m investment in EDITED, and the acquisition of Assetic by Dude Solutions, among many others.
Enquiries

For enquiries, please contact:

Julian Riedlbauer, Partner

julian.riedlbauer@gpbullhound.com Carolin Drewes, Associate

carolin.drewes@gpbullhound.com

About GP Bullhound

GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit www.gpbullhound.com

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Hg invests in Geomatikk Group

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HG Capital

Hg invests in Geomatikk Group. Partnering with the business to continue its growth as a Northern European champion in Underground Mission-Critical GIS Data and Detection.

Oslo, NORWAY and London, UK. 18 December 2020: Hg, Europe’s leading software investor, today announces an investment in Geomatikk Group (“Geomatikk”).

Geomatikk is a tech-enabled services champion, managing critical ‘check-before-you-dig’ safety assessments to network owners, contractors and consulting engineers within Norway, Sweden and Finland.

Hg will support Geomatikk with its extensive experience in scaling tech champions across Europe. Hg will become the majority investor, with founders and management remaining as significant investors in the business. The full terms of the transaction are not disclosed and closing is subject to obtaining relevant regulatory approvals.

Founded in 2005, Geomatikk is a leading tech-enabled services provider managing critical “check-before-you-dig” requests in Norway, Sweden and Finland. The core product is a comprehensive mapping of all underground infrastructure in the countries it operates, which underpins an end-to-end technology platform that manages these pre-dig checks and complementary workflows such as site inspection, damage resolution and network monitoring. Geomatikk has become a one-stop source of truth for underground cable management serving network owners and the construction industry across the Nordic region.

Hg has been investing in and growing businesses across the Nordic region for close to 20 years.

Geomatikk is also Hg’s 10th investment in the Tech Services sector, where around €1 billion has now been invested. This investment will be made from the Hg Mercury 2 Fund.

Øystein Moan will also join Geomatikk as Chairman of the board. Øystein has extensive experience of building software businesses in the Nordic region, having been CEO, and currently Executive Chair, of Visma, a leading provider of business-critical software to private and public enterprises in the Nordic, Benelux and Baltic regions. Over the last 23 years Øystein has overseen revenue growth from NOK 300 million to over NOK 19 billion today at Visma. Geomatikk has the potential to follow a pattern similar to Visma and become a European champion in Underground Mission-Critical GIS Data and Detection.

“Hg has a long history of significantly scaling technology businesses in the Nordics. We believe that their extensive experience in software and technology transformation will enable us to provide an even more seamless and compelling product for our customers, whilst also the opportunity to bring our vital services to other regions in Northern Europe. This is an incredibly exciting opportunity and I would like to say thank you to our excellent team who have performed incredibly well in what has been a significant and challenging year for everyone. We look forward to what the future holds.”

Knut Bratsberg, CEO and Founder of Geomatikk

“We are hugely impressed in what Knut and the Geomatikk team have built in the Nordics. Geomatikk provides a high value service protecting critical infrastructure in the region. By building a high-quality and increasingly tech-enabled product, Geomatikk is a leading European champion in this geographic information sector. We look forward to working with Knut and the entire Geomatikk team as we use our experience of scaling technology enabled businesses to support further growth.”

David Issott, Partner at Hg

For further details:

Hg
Tom Eckersley
+44 (0)20 8396 0930

Brunswick
Diana Vaughton and Samantha Chiene (Brunswick UK)
+44 (0)207 404 5959

HG@brunswickgroup.com

About Geomatikk Group

The Geomatikk Group is a leading tech-enabled services provider delivering solutions and services to manage safe excavations, before-you-dig-requests, Utility works and Street works. The group operates in Norway, Sweden and Finland, and is establishing itself in the UK. Geomatikk is protecting the infrastructure for more than 300 network owners, handling 2 million transactions and more than 250 thousand physical field detections annually. Network owners, municipalities, contractors, civil works designers and other stakeholders collaborate and interact on the Geomatikk digital platform to optimize their construction projects and minimize asset strikes.

About Hg

Hg is a leading European 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 30 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 30 software and technology businesses, comprising over 35,000 employees across the UK, US and Europe. For further details, please visit the Hg website: https://hgcapital.com/.

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Marlin signs definitive agreement to complete growth equity investment in StarCompliance

Marlin

LOS ANGELES, December 17, 2020 – Marlin Equity Partners (“Marlin”) is pleased to announce that it has signed a definitive agreement to complete a majority-control, growth investment in StarCompliance (“Star”), a leading provider of employee compliance and regulatory technology solutions to the financial services industry. The transaction enables Star to further expand its leadership position within the global compliance market by accelerating product innovation and supporting the company’s ongoing international expansion. Luminate Capital Partners (“Luminate”), the company’s previous majority shareholder, will retain a minority stake. The completion of the transaction is subject to applicable regulatory clearances and other customary closing conditions.

With a client base of over 500,000 users across 83 countries, Star is a market-leading, highly configurable compliance solution trusted by the world’s largest regulated firms, including asset managers, investment banks, hedge funds, private equity firms, insurance companies, professional services firms, and public corporations. The company has a rich history of innovation with its mission-critical Employee Conflicts of Interest platform, complemented by its newest platform, Compliance Control Room – two comprehensive solutions that assist global firms in efficiently and effectively managing critical aspects of the complex compliance ecosystem.

“We are incredibly proud of our tremendous growth and world-class list of clients with whom we collaborate to automate and streamline compliance oversight,” said Jennifer Sun, CEO at Star. “This investment accelerates our vision of serving as the preeminent leader in the employee compliance and conflicts of interest market and better positions us to help our clients navigate evolving regulation and intelligently manage risk across the employee lifecycle – from onboarding to supporting fast-moving day-to-day operations. We look forward to partnering with Marlin and Luminate for our next phase of growth.”

“Regulatory requirements continue to become increasingly complex with escalating penalties for non-compliance. Star is uniquely addressing this global challenge with its industry-leading technology platform,” said Michael Anderson, a managing director at Marlin. “We are excited to partner with Star and continue to expand the company’s market leadership by building upon its best-in-class product suite through further product investments and strategic acquisitions.”

About Marlin Equity Partners

Marlin Equity Partners is a global investment firm with over $7.4 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 170 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.

About StarCompliance

StarCompliance is a leading provider of compliance technology solutions. Trusted globally by enterprise financial firms in over 83 countries—including asset managers, investment banks, broker dealers, PE firms, insurance companies, and stock exchanges—the STAR Platform empowers organizations to achieve regulatory compliance while safeguarding their integrity and business reputations. Through a customizable, 360-degree view of employee activity, STAR software enables firms to automate the detection and resolution of potential areas of conflict while streamlining daily workflows and increasing efficiency. For more information, please visit www.starcompliance.com.

For additional information, please contact Peter Spasov at (310) 364-0100 or via email at pspasov@marlinequity.com.

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Volpi Capital to acquire Profit Software

Tesi

Via equity Fond II K/S (“VIA equity”) and Tesi (“Finnish Industry Investment Ltd”), have signed an agreement to divest Profit Holding Oy (“Profit” or “the Company”). The buyer of the company is a newly formed vehicle controlled by funds managed by Volpi Capital LLP (“Volpi”).

Profit Software is an independent software and consultancy services vendor focusing on banks and insurance companies, also offering a wide range of expertise and services within business analytics and data management across multiple industries. The company operates out of six offices across Finland, Sweden and Estonia.

With Profit’s unique positioning as the digital transformation and insurtech leader in the Nordics, the company is expecting to continue its double-digit growth and profitability as the financial services and insurance sectors rapidly digitalizes.

“We have been delighted to contribute to Profit’s strong organic growth, alongside supporting a transformative acquisition. This transaction is a testament to the success of the VIA playbook of supporting Nordic IT companies”, says Benjamin Kramarz, Partner at VIA equity and outgoing Chairman of Profit.

As part of the transaction, the Company’s management team will re-invest alongside Volpi to continue executing the pan-Nordic expansion strategy.

“We are very excited about commencing the next stage of our growth journey in partnership with a leading technology investor such as Volpi. We have had a very successful journey with VIA equity and have appreciated the support that has helped Profit to emerge as a leading digital transformation vendor for Finnish insurance companies and banks. We are looking forward to further acceleration of our Nordic expansion supported by Volpi Capital”, says Ilkka Starck, CEO at Profit.

Marco Sodi, Volpi Capital commented: “For many years now we have been looking at providers of software and services to the financial services and insurance industry and identified Profit as part of our thematic research in the space. The company has gained strong momentum in recent years and we very much look forward to working closely in partnership with Ilkka and his experienced team, to further accelerate their successful growth”.

Profit and VIA equity were advised by Stifel Global Technology Group and Krogerus. Volpi was advised by Roschier.

More information:
Keith Bonnici
Investment Director, Tesi
keith.bonnici@tesi.fi
+358 40 1799 584

About VIA equity
VIA equity is a leading Northern European multi-stage private equity firm with an excellent track record of building and transforming its investments into national and international industry leaders. VIA primarily invest in companies with revenue from EUR 10 million to EUR 100 million. In October 2020, VIA completed the first close of its fund IV with target commitments of EUR175m.

About Volpi Capital
Volpi Capital is a specialist European lower mid-market private equity firm. Volpi has a thesis-driven approach targeting ambitious businesses using enabling technologies to disrupt traditional B2B value chains. Volpi typically invests €25-75 million of equity in businesses with enterprise values between €50 million and €200 million, and seeks to drive transformative growth through international expansion and consolidation. The firm was founded in 2016 by Crevan O’Grady and Marco Sodi.

Tesi (Finnish Industry Investment Ltd) is a Finnish state-owned investment company that wants to raise Finland to the front ranks of renewing economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 1.6 billion euros. Ambition for ownership and success – tesi.fi | @TesiFII

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EQT Private Equity makes a majority investment in Storable, the leading software & technology provider to the self-storage industry

eqt

  • Storable is the leading provider of software, payments, insurance, and marketplace solutions to the self-storage industry in the US
  • EQT Private Equity will support Storable’s continued growth and innovation of its best-in-class product offerings
  • Storable will benefit from EQT’s demonstrated track record of advancing industry leading technology companies and vast expertise in accelerating digital transformation, leveraging its in-house resources and global EQT advisory network

EQT is pleased to announce that EQT Private Equity has made a majority investment in Storable (“the Company”), a leading provider of software and technology to the self-storage industry. Under the terms of the agreement Cove Hill Partners and management will retain a minority stake in the Company.

Storable offers an end-to-end integrated suite of technology solutions to empower self-storage operators to enhance efficiency and optimize occupancy. Storable’s offering includes a market leading software platform with embedded payment and insurance solutions and the leading online marketplace for self-storage operators. Storable is headquartered in Austin, Texas and has approximately 440 employees.

The end-market for self-storage is highly fragmented, has experienced consistent growth over the last few years and is undergoing significant digital transformation. EQT will support Storable’s continued scaling through investments in product innovation and commercial excellence, with a focus on sustainability. EQT has a long track record of advancing strong technology businesses through its collaborative governance approach with management, in-house digital team and global network of EQT advisors.

Arvindh Kumar, Partner at EQT Partners, said: “EQT is excited to invest in Storable and looks forward to partnering with Chuck Gordon and the entire team towards becoming the leading self-storage technology company in the world, doing so in a sustainable and future-proofed manner. The highly fragmented end-market for self-storage has experienced strong growth over the last several years and is undergoing significant digital transformation, for which EQT can provide global expertise. This investment demonstrates EQT’s strong interest in partnering with best-in-class technology companies supported by secular growth trends, exemplified by the self-storage industry.”

Chuck Gordon, CEO of Storable, added: “The entire Storable team is excited to partner with EQT to continue doing what we do best – helping our self-storage owners run better businesses with technology. EQT’s expertise will enable us to further enhance our existing products and launch new technology tools to help our storage clients increase their bottom line. Our clients should expect the same high standards of innovation, data privacy and support going forward.

Dan May, Managing Director of Cove Hill Partners and member of the Storable Board of Directors, added: “Cove Hill is thrilled to be continuing its strong partnership with Chuck and the Storable team as it enters its next chapter of growth. We look forward to welcoming EQT as a strategic partner, as Storable finds new ways to innovate its product offering and provide exceptional value to its dedicated customer base.”

The transaction is expected to close in Q2 2021, subject to customary conditions and approvals.

Evercore acted as financial advisor to EQT, Simpson Thacher & Bartlett LLP provided legal counsel and Kramer Levin Naftalis & Frankel LLP provided insurance counsel. William Blair & Company acted as financial advisors to Cove Hill Partners, and Ropes & Gray LLP provided legal counsel.

With this transaction, EQT IX is expected to be 30-35 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
Arvindh Kumar, Partner at EQT Partners and Investment Advisor to EQT Private Equity, +1 917 281 0858
US press contact: daniel.yunger@kekstcnc.com, +1 917 574 8582
European / international press contact: press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 75 billion in raised capital and over EUR 46 billion in assets under management across 16 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 Storable
Headquartered in Austin, Texas, Storable offers the self-storage industry’s most comprehensive suite of technology products known as the Storable Platform. The Storable Platform delivers management software, marketing websites, tenant insurance, payments, and the industry’s largest storage marketplace all in one integrated solution, designed to help storage operators increase efficiency, enhance occupancy, and improve profitability. The Storable family of companies includes SiteLink, storEDGE, Easy Storage Solutions, SpareFoot, Select Merchant Solutions, Storsmart, and Bader Insurance. Storable is backed by EQT and Cove Hill Partners and led by Co-Founder & CEO, Chuck Gordon.

More info: www.storable.com

About Cove Hill
Cove Hill Partners is a long-term oriented private equity firm focused on partnering with outstanding management teams to build market-leading consumer and technology companies. The firm was founded in 2017 by seasoned private equity investors to invest their personal capital alongside a small group of likeminded investors. The team currently manages an inaugural fund of over $1 billion with an innovative structure that provides the flexibility to enable a patient, concentrated and value-add approach in a small portfolio of long-term investments.

More info: www.covehillpartners.com

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Universal-Investment Group enters the Irish fund market

Montagu

Universal-Investment Group enters the Irish fund market

Universal-Investment Group, the largest independent fund service platform in the German speaking region, has strengthened its market position as a European fund service platform with the acquisition of Metzler Ireland Limited.

For Universal-Investment, this is another milestone on the way to achieving its goal of becoming the leading European fund service platform and management company for all asset classes by 2023.  Ireland is an important launch venue for the European investment industry and will become Universal-Investment’s third fund service hub alongside Germany and Luxembourg.

The acquisition of Metzler’s Irish fund management company is part of Universal-Investment’s long-term growth strategy: in the last financial year ending 30 September 2020, assets under management rose over 25 percent to approximately EUR 600 billion.  Following the acquisition of the IT specialist UI Labs in 2019 and online investment community CAPinside in the summer of 2020, this is now the third acquisition in the past two years. Universal-Investment also recently launched Enlyte, one of the world’s first investment platforms for digital assets.

“In the future and additional to our fund platforms in Germany, Luxembourg and our location in Krakow, we will also be present as a high-quality provider in Dublin, offering asset managers and institutional investors our structuring, management company, administration and risk management services for all asset classes. As such, we’re one of the few providers active both as a fund administrator and management company at Europe’s three leading fund hubs. Our customers, business partners and Universal-Investment Group’s employees will benefit from this in the long term,” says Universal-Investment Group Chief Customer Officer, Katja Müller.

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Eurazeo Capital completes its investment in Questel

Eurazeo

Paris, 17 December 2020 – Eurazeo Capital has completed its investment in Questel alongside IK Investment Partners, Raise Investissement and the management team. The transaction involved the purchase of 100% of Questel’s capital.

Questel is a major intellectual property solutions provider that operates worldwide and employs 900 people in 30 countries, developing SaaS products and an automated brand services and patent filing platform. The company works with close to 6,000 clients, including a number of large multinationals, offering end-to-end collaborative patent and brand management solutions across the innovation and intellectual property cycle, from invention through to filing and renewal.

Questel’s enterprise value is €915 million. Eurazeo and IK have each invested an initial amount of around €175 million and together will hold a majority stake in the company. Eurazeo China Acceleration Fund has also invested in Questel.

About Eurazeo
• Eurazeo is a leading global investment company, with a diversified portfolio of €18.8 billion in assets under management, including €13.3 billion from third parties, invested in over 430 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering in-depth 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 PRESS CONTACT
PIERRE BERNARDIN
HEAD OF INVESTOR RELATIONS
mail: pbernardin@eurazeo.com
Tél : +33 (0)1 44 15 16 76

VIRGINIE CHRISTNACHT
HEAD OF COMMUNICATIONS
mail: vchristnacht@eurazeo.com
Tel: +33( 1 44 15 76 44

MAITLAND/amo
DAVID STURKEN
mail: dsturken@maitland.co.uk
Tel: +44 ( 7990 595 913

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New primary LBO deal for Omnes and its small cap funds with regional operator Tennaxia

Omnes Capital

a publisher of SaaS solutions to help listed companies and SMEs / mid-market companies in France with their CSR strategies.

Wednesday, December 16, 2020

Omnes has become a core minority shareholder in Tennaxia by investing more than €8 million in the company through its 3rd generation small cap funds. This marks Omnes’ fifth deal with the latest vintage of its small cap funds. The Small Caps team is also expected to complete strategic external growth in the IoT sector by the end of the year through an additional investment in ABMI (majority holding acquired at the end of 2018).

This means that more than 40% of the €125 million raised through the 3rd generation funds (Omnes Expansion 3 and LCL Expansion 3) in early 2020 with institutional investors, family offices and retail investors (notably through LCL’s private banking and wealth management channels) has been deployed. For reference, the team’s investment strategy is to make minority or majority investments of between €8 million and €15 million in French SMEs that lead their niche segment and operate in BtoB services, BtoC services and industry in particular.

The team actively partners ambitious business leaders and their staff to help them accomplish their operational transformation goals, both through organic and external growth. In addition to an investment multiple of nearly 2.5x, the team’s track record reflects an active external growth policy (on average, one external growth deal per portfolio company) and a large proportion of primary deals.

 

A SaaS specialist to help French businesses with their ESG strategies

Tennaxia, founded in 2001 by Bernard Fort and Maxime Delorme, is a leader in cloud-based solutions to help listed companies and SMEs / mid-market companies in France with their CSR/EHS strategies. It has developed solutions and services to sustain and enhance businesses’ non-financial performances.

Tennaxia has two interlocking products:

  • A fully-configurable SaaS platform to manage EHS/CSR strategy coupled with regulatory intelligence solutions that give customers bespoke insight (depending on their activity) into changing regulations (75% of revenue)
  • Consulting services (spot audits, compliance, etc. – 25% of revenue).

The CSR/EHS reporting market is enjoying significant double-digit growth, driven by (I) strong demand from civil society as a whole, (ii) more stringent regulations and (iii) mounting investor interest in such issues.

 

The company is targeting revenue in excess of €7 million by the end of March 2021. It currently employs more than 60 people at its offices in Laval, Paris and Lyon.

The aim of the transaction is to enable Tennaxia to pursue and step up its cross-selling and upselling strategy for its existing solutions, to strengthen its sales teams and to attract new customers in France and international markets, notably by leveraging the strategic and exclusive partnerships it has already forged (with Euronext and Bpifrance first and foremost).

 

Bernard Fort, founding CEO, Tennaxia: “This deal recognises, on an institutional level, the quality of our know-how and our software solutions. With Omnes’ help, we are confident that we can fully tap into Tennaxia’s potential in a growth market. We have built a very strong company that is trusted by our customers and are now finding ways to push ahead with our development, particularly in responsible investing (ESG) and international markets.” 

Frédéric Mimoun, Senior Director, Omnes: “This growth capital deal has come about after more than twelve months of direct dialogue with Tennaxia’s founding chairman. Our ambitious growth plan is based both on the company’s position as a trailblazer in a high-potential growth market and on the quality of its tried-and-tested software solutions in SaaS mode.”

Omnes Capital is being partnered in this “limited” LBO (less than 2x EBITDA) by Bpifrance and Arkea Capital, a subsidiary of Arkea, through its investment vehicles Arkea Capital Investissement (historical shareholder of Tennaxia) and Arkea Capital 2.

 

Parties:

Founder / Shareholder managers: Bernard Fort / Maxime Delorme and Christophe Remy

Independent directors: Bernard Bourigeaud and Isabelle Saladin

Omnes (LCL Expansion 3, LCL PME Expansion 3 and Omnes Expansion 3):
Frédéric Mimoun, Senior Director
Victor Versmee, Associate

 

Co-investors:
Arkea Capital (Arkea Capital Investissement and Arkea Capital 2):

Eric Besson-Damegon and Sylvie Le Bras

Bpifrance Investissement: Nicolas de la Serre

 

Buyer advisers
LL Berg (legal issues): Olivier Abergel, Gaëlle Quillivic, Fiona Kalach and Loïc Chomet

Vivien et Associés (labour issues): Marie-Emilie Rousseau-Brunel and Christophe Calvao

Ayache (tax and labour issues): Jacques Messeca and, Céline Boisselier
Oderis (financial issues): Thomas Claverie and Léo Placzek

Kea Euclyd (customers): Christine Durroux, Claire Gourlier and Rémi Philippe

PraXis (commercial): François Laurent-Besson

Indefi (ESG): Julien Berger

Vendor advisers
Action Expertise (corporate): Sophie Galmisch, Sébastien Brunhes and Marie Soubise

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