Tag Archives: Information technology

EQT Private Equity exits In.Corp Global to TA Associates

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

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

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

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

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

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

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

Contact
APAC media inquiries: KEKST CNC, daniel.delre@kekstcnc.com, +852 9212 3105
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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

About In.Corp Global
Based in Singapore, In.Corp is the leading provider of professional corporate solutions for businesses with presence in seven markets across Asia. In.Corp specializes in a full range of professional services for companies planning to establish a hub or headquarters in Asia, including incorporation, corporate secretarial & compliance, share registry, accounting, taxation, human resources, corporate recovery and other business advisory services.

More info: www.incorp.asia

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Equistone acquires majority stake in digitalisation expert TIMETOACT GROUP

Equistone
07 May 2021

Funds advised by Equistone Partners Europe (“Equistone”) have acquired a majority stake in TIMETOACT GROUP, a leading IT consultancy and services provider for medium-sized businesses, large corporations and public sector institutions, based in Cologne, Germany. With Equistone, TIMETOACT GROUP shareholders Felix Binsack and Hermann Ballé have brought a partner on board who will continue to support TIMETOACT GROUP’s already successful buy-&-build strategy with both know-how and capital. The two will continue to lead the company as managing directors and retain a significant stake, while Frank Fuchs will join the management team as CFO. The financial terms of the transaction are undisclosed and remain subject to approval from the relevant competition authorities.

TIMETOACT GROUP comprises nine specialist brands in 16 locations across Germany, Austria and Switzerland: ARS, CLOUDPILOTS, edcom, GIS, IPG, novaCapta, synaigy, TIMETOACT and X-INTEGRATE. The group offers its clients a comprehensive range of IT service solutions in the area of digital workplace, process automation & optimisation, business intelligence, identity & access management as well as customer experience. The group’s clients primarily include medium-sized businesses as well as large corporations in the industrial, financial and service sectors as well as public sector institutions. The group employs approximately 700 people and recorded revenues of around EUR 120 million in 2020, representing an increase of more than 17 percent on the previous year.

As part of the deal, Felix Binsack and Hermann Ballé together with other members of the management team will retain a significant shareholding of close to 50 percent. The group’s management team and Equistone have been able to work together to establish a joint growth strategy for the partnership in a bilateral decision-making process. Key factors for this growth plan will be the continuation of a targeted buy-&-build strategy to strengthen the group’s service portfolio, and accessing new market segments.

“We were looking for a reliable and financially strong partner, who can support us strategically during future growth phases, both organically and through acquisitions, while taking into account our unique company culture. With Equistone, we have found such a partner”, says Felix Binsack, Co-Managing Director of TIMETOACT GROUP. “Especially in supporting companies through the implementation of buy-&-build strategies, Equistone has many years of extensive experience. We are therefore looking forward to this partnership, which will benefit both our employees and customers, as it ideally matches our own strategy for the future”, adds Hermann Ballé, Co-Managing Director of TIMETOACT GROUP.

“The acquisition of TIMETOACT GROUP adds a leading digitalisation expert with a broad range of specialised IT services to our portfolio, in a market that is characterised by strong and steady growth. At the same time, this acquisition also reflects an increased focus on technology companies: a sector with exciting business models, excellent growth prospects, and founders, we can support in their business goals”, says Leander Heyken, Partner at Equistone Partners Europe.

Leander Heyken, Christoph Wüstemeyer and Dr Marc Arens led the transaction on behalf of Equistone. Equistone was advised by wdp (Commercial), EY (Financial & Tax), POELLATH (Legal Corporate), Preu Bohlig & Partner (Legal Technology), Shearman & Sterling (Legal Financing) and GCA Altium (Debt Advisor). The TIMETOACT GROUP owners were advised by flandor (M&A Advisor, Corporate Finance) and Oppenhoff & Partner (Legal).

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Alpine Acquires Outdoor Recreation Software Leader Aspira

Alpine

SAN FRANCISCO & DALLAS–(BUSINESS WIRE)–Alpine Investors (“Alpine”), a people-driven private equity firm committed to building enduring software and services companies, announced today it has acquired Aspira (the “Company”), a market-leading software provider for the outdoor recreation industry, from Vista Equity Partners. Alpine’s partnership will accelerate organic growth across Aspira’s business lines and provide capital for strategic acquisitions.

Headquartered in Dallas with eight offices worldwide, Aspira’s mission is to cultivate a connected world through shared outdoor experiences. It employs over one thousand team members and provides a comprehensive suite of software used to manage all aspects of outdoor recreation access, including reservation, registration, licensing, and day use entry for public agencies and private entities. Aspira’s enterprise solutions enable its clients to manage multiple mission-critical activities using one centralized platform. Through ReserveAmerica.com—a leading booking site for public and privately-owned campground reservations—Aspira directly connects consumers with outdoor recreation experiences.

Fraser Cameron will join Aspira as CEO, leveraging his deep experience leading passion community companies through rapid growth. Most recently serving as CEO of SmartPak Equine, Cameron brings a substantial history of operational, financial, and consumer subscription experience, including eight years leading the team at Velcro Companies in the roles of CEO and CFO. Further expanding the Aspira management team, Marlena Slowik and Graham Ballbach will assist in leading the Company during its next phase. Former CEO Mark Trivette and former President Seth Rosenberg will maintain leadership roles within the Company.

Cameron, Ballbach, and Slowik all join Aspira through Alpine’s CEO program which brings supplemental leadership to its portfolio companies.

“We are thrilled to welcome such a culturally-aligned and experienced leader in Fraser Cameron to the Aspira team,” said Trivette. “The Alpine team brings a wealth of knowledge and resources that will serve Aspira’s customers and team members exceptionally well throughout this next chapter of growth,” added Rosenberg.

“I am excited to work alongside the talented Aspira team to build upon the great work Mark and Seth have done in leading the business. Our first objective is to listen to our team and customers as we implement growth initiatives throughout all lines of business—including significant investments in technology, marketing, and customer support,” said Cameron.

“We’ve seen a surge of Americans seeking to explore the outdoors, especially over the past 12–18 months, and believe such growth will continue. Aspira has certainly benefitted from these market tailwinds, and we are delighted to partner with this dynamic Company—a true leader in an industry that brings so much joy to people by leveraging technology to connect them with nature,” said Billy Maguy, partner at Alpine. “We are committed to investing not just in the growth of the business, but also in the hardworking people who make it thrive.”

LionTree Advisors acted as exclusive financial advisor to Vista in the transaction, and Kirkland & Ellis LLP served as its legal counsel. Wilson Sonsini Goodrich & Rosati served as legal counsel to Alpine.

About Aspira

Aspira provides connected experiences for the outdoor recreation industry. Its comprehensive suite of reservation and licensing technology and service solutions support federal, state, provincial, privately-owned, and local government parks, campgrounds, and conservation agencies, conveniently connecting them with outdoor adventure seekers from around the world. Aspira is headquartered in Dallas, Texas, with eight offices worldwide. For more information, visit www.AspiraConnect.com.

About Alpine Investors

Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in middle-market companies in the software and services industries. Its PeopleFirst strategy includes a CEO-in-Residence program which allows Alpine to bring proven leadership to situations where additional or new management is needed post-transaction. Alpine is currently investing out of its $1 billion seventh fund. For more information, visit http://www.alpineinvestors.com.

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

Eurazeo

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

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

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

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

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

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

EURAZEO CONTACTS

Virginie Christnacht

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

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

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

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Archive-IT partners with investor FIELDS group for future growth

Fields Group

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

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

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

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

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

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

Ardian

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

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

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

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

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

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

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

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

ABOUT LOGALTY

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

Visit the website

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

HG Capital

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

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

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

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

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

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

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

Dr. Tim Weckerle, CEO of AUVESY

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

Benedikt Joeris, Director at Hg

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

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

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

Marco Brockhaus, founder and Managing Director of Brockhaus Private Equity

For further details:

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

About AUVESY

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

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

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

About Hg

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

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KKR to Acquire Ensono

KKR

April 14, 2021

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

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

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

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

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

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

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

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

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

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

About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

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

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

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

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

Charlesbank
Maura Turner
mturner@charlesbank.com

SOURCE Ensono

Related Links

http://www.ensono.com

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Longship divests Norian to ECIT

Longship

Longship Fund I (“Longship”) has as on April 13th, 2021 divested 100% of its shares in Norian Topco AS and its subsidiaries (“Norian”) to the Norwegian accounting and IT company ECIT AS. The management team will continue to work in Norian, and will retain an ownership stake in Norian as well as reinvest part of the proceeds in ECIT. Norian is the second exit from Longship Fund I in 2021.

Norian is a BPO service provider within accounting, payroll, and automation. In 2020 Norian had consolidated revenues of NOK 265 million, and 550 employees. Norian is headquartered in Norway and is present in Norway, Sweden, Finland, and Germany with nearshore centers in Poland and Lithuania.

Norian was a carve-out of the accounting services business from OpusCapita Group Oy in 2017. During the ownership period of Longship, the company has been transformed into a leading BPO player in the Nordics with a significant improvement in EBITDA in 2020 compared to the pro-forma accounts of the business for 2017.

“The management team of Norian, together with their dedicated employees, have delivered on the ambitious strategy set out in 2017. We have enjoyed supporting Norian through a challenging carve-out and transformation process resulting in a significantly improved competitive position. Norian has become a differentiated BPO-player combining low-cost, high competence nearshore resources with a significant in-house robotics and automation competence”, says Espen Stenumgård, partner for Longships investment in Norian.

“Together with Longship we have transformed a loss-making business unit of a large corporation into a leading player in the industry. Longships’ engagement and understanding of both the soft and hard aspects of a service business has certainly enhanced our development. It has been a true partnership that has created a robust and profitable company positioned for further growth. We are now looking forward to continue the journey with the ECIT group”, says Knut Anders Opstad, CEO of Norian.

Longship is a transformational growth investor, developing successful and promising lower mid-market companies into mature growth businesses with institutional and strategic value. We aim to create a scalable platform for sustainable growth and profitability in our portfolio companies, and support them on their accelerated growth journey. Longship is targeting excess return from its transformational approach.

 

For more information, please contact:

Espen Stenumgård, Partner, Longship AS
+47 992 44 678
espen.stenumgard@longship.no

Knut Anders Opstad, CEO, Norian Topco AS
+47 917 86 843
kao@norian.no

 

About Longship:

Longship is a Norwegian private equity investor established in 2015 by an experienced team of investment professionals. Longship invests in companies with significant growth potential in the Norwegian lower mid-market, and are applying a transformational growth approach, organically and through M&A. The investment team currently consists of eleven professionals, making it the leading player in the Norwegian lower mid-market. Longship closed its second fund in November 2020 with commitments of NOK 1.7 billion.

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Centralpoint to be acquired by Dustin

Altor

otla BV (“Rotla”) – a company controlled by Altor Fund IV and Kool Active B.V. – has entered into an agreement to divest Centralpoint Holding B.V. (“Centralpoint”), the market leading IT value added reseller in the Benelux region to Dustin Group AB (“Dustin”). Dustin is a leading online IT partner serving the Nordic region and the Netherlands.

Centralpoint had revenues of about EUR 700m in 2020 and offers IT hardware, software, services and solutions to SMB, mid-market, enterprise and public sector customers. “We are proud of the journey with Centralpoint where we in our strong partnership with Jordy Kool and together with a strong management team, have created the market leading IT value added reseller in the Benelux region.” says Stefan Linder Chairman of the Board of Rotla and Partner at Altor. “We are now excited to have found a great new home for Centralpoint in Dustin, that complements Centralpoint’s offering in the Benelux region perfectly”.

“I’m proud of having led Centralpoint from its creation in 2017 and of the truly great company we have built. Through the hard work of our exceptional employees, we have solidified our position as the leading IT value added reseller in the Benelux region. In Dustin we have found a strong next owner with an ambition to further expand the offering to our customers and to accelerate growth in the Benelux region, organically and through acquisitions. The two companies complement each other perfectly and together we are ready to keep on building on our leading position. I’m excited to enter into the next phase of growth with Centralpoint.” says Luuk Slaats, CEO of Centralpoint.

“With Centralpoint we become the leading IT-partner in the Benelux region, continuing to build on our strategy of combining hardware and software sales with an attractive service offering to offer complete IT solutions. We see great potential in building on Centralpoint’s strong position within large corporate and public sales, combined with our current portfolio of offerings towards small and medium sized businesses and with that continuing to scale our online sales.” says Thomas Ekman President and CEO of Dustin.

Closing of the acquisition is subject to compliance with works council proceedings and customary closing conditions, including merger control clearance from the Dutch competition authority.

Jefferies International acted as exclusive financial advisor to the seller.

For more information please contact:
Tor Krusell, Head of Communications at Altor, Tel: +46 70 543 87 47

About Centralpoint
Centralpoint, headquartered in the Netherlands with presence in Belgium, has revenues of about 700 million EUR and employs ca 600 people. Centralpoint is the market leading IT value added reseller that provides hardware, software, services and solutions to SMB, mid-market, enterprise and public sector customers in the Benelux region. Centralpoint adopts a customer centric approach and works vendor independently.

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 4.2 billion in more than 60 companies. The investments have been made in medium sized companies in Northern Europe with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Byggmax, CTEK, Eleda, Navico, OX2, RevolutionRace, Rossignol, SATS, and Trioworld. For more information please visit www.altor.com

About Dustin
Dustin is a leading online IT partner serving the Nordic region and the Netherlands. Dustin offers approximately 255,000 products with related services to companies, the public sector and private individuals. Dustin Group currently employs about 1,700 people, had sales of approximately 13.2 billion SEK for the financial year 2019/20 and has been listed on the Nasdaq Stockholm since February 2015. Dustin has its headquarters in Nacka Strand just outside central Stockholm.

Author: Katarina Karlsson
Date: 2021.04.13
Categories: News

Categories: News

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