Tag Archives: Information technology

Genius Sports Group to go public through combination with NYSE-listed dMY Technology Group II

Apax

27 October 2020

27 October 2020: Genius Sports Group (“GSG” or “Genius”), a portfolio company of Funds advised by Apax Partners (“Apax” or “Apax Funds”), and dMY Technology Group, Inc. II (NYSE: DMYD) (“dMY II”), a publicly traded special purpose acquisition company, today announced that they have entered into a definitive business combination agreement (the “Business Combination Agreement”) pursuant to which GSG and dMY II will combine. As a result of the business combination, GSG and dMY II shareholders will exchange their shares for shares in a new combined company, which will be publicly listed on the New York Stock Exchange (the “NYSE”). The transaction implies a pro forma enterprise value of approximately $1.5 billion. The Apax Funds will remain the largest single shareholder of the combined company.

Founded in 2000, Genius Sports Group is a leading provider of sports data, content, and technology powering the global sports, betting, and media ecosystem. The company’s technology both empowers sports leagues to capture, manage, and distribute live data and video and provides sports betting operators with secure, high-quality data and content. Genius maintains long-term partnerships with over 500 sports organizations globally, including the NBA, NCAA, FIBA, FIFA, English Premier League, and NASCAR.

Recognising the enormous growth potential of sports data and technology, the Apax Funds acquired Genius in 2018. In the two years since, the Apax Funds have supported GSG Founder and CEO Mark Locke’s efforts to expand the company’s international footprint and develop innovative new technologies and services. Today, Genius provides data on over 240,000 events each year – effectively every hour of every day. It is the official provider for over 170,000 of these events.

The Apax Funds have a strong track record of investing in the software sub-sector, having completed 14 investments over the past 15 years across multiple geographies, including Duck Creek Technologies, Epicor and Sophos.

Gabriele Cipparrone, Partner at Apax Partners, said: “We are proud to have partnered with Mark Locke and his team of experienced and driven entrepreneurs over the last two years. Pairing Apax’s operational expertise with Genius’ peerless technology and reputation for high-integrity data has created a game-changing and indispensable technology player that is driving the rapid expansion of the industry it serves. We look forward to continuing our partnership with Genius.”

Mark Locke, Chief Executive Officer of Genius Sports Group said: “I greatly appreciate the support and counsel that Apax provided during this critical time in GSG’s growth. Together, we have created a comprehensive digital infrastructure connecting the global sports betting ecosystem. We look forward to continuing our growth as a listed company and are proud to count the Apax Funds as our largest investor.”

The transaction will require the approval of dMY II’s shareholder, and is subject to other customary closing conditions.

About Apax Partners LLP

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

About Genius Sports

Genius sports is the official data, technology and commercial partner that powers the global ecosystem connecting sports, betting and media. The company is a global leader in digital sports content, technology and integrity services. Its technology is used in over 150 countries worldwide, empowering sports to capture, manage and distribute their live data and video, driving their digital transformation and enhancing their relationships with fans.

Apax Media Contacts 

Katarina Sallerfors | +44 207 872 6526 | katarina.sallerfors@apax.com

Greenbrook | +44 20 7295 2000 | apax@greenbrookpr.com

Kekst and Company | +1 212 521 4854 | todd-fogarty@kekst.com

 

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MineralTree Introduces Automated Purchase Order Matching for Sage Intacct Users

.406 Venture

Cambridge, Mass., October 20, 2020 – MineralTree, an Accounts Payable (AP) and payments automation solution provider, today announced the addition of automated PO/invoice matching for Sage Intacct, a cloud-based accounting and financial management platform. The new capability equips MineralTree customers using Sage Intacct to automatically match incoming invoices against purchase orders or receipts and then insert them into users’ internal workflows for invoice approval and payment. As a result, Intacct users can save substantial finance staff time, reduce payment processing costs, and eliminate overcharges and double payments due to manual error.

The announcement coincides with the start of Sage Intacct Advantage, the premier user event for Sage Intacct customers, partners, and prospects which takes place virtually Oct. 20-21.  MineralTree will be a featured presenter at the event and will also be part of the Advantage Sponsor Showcase.

For many middle-market businesses, manually matching and reconciling incoming invoices against purchase orders is a tedious and error-prone process that consumes AP staff time and results in a variety of costly errors including overcharges, double payments, and late fees. As part of MineralTree’s end-to-end AP and payments automation solution, automated PO matching eliminates those challenges and increases financial control while improving cash management.

“As companies grow and look to better manage their spend, the use of purchase orders becomes standard operating procedure, especially in industries such as manufacturing, retail, and healthcare,” said Elle Kowal, Chief Product Officer at MineralTree. “With the addition of automated PO matching for Intacct, we can better serve the needs of larger middle-market businesses and continue to expand the footprint and value of their AP automation efforts.”

Thanks to its deep, two-way integration with Sage Intacct, MineralTree uniquely supports two PO matching workflows:

  • Standard matching – MineralTree automatically syncs POs from Intacct. When new invoices are received, MineralTree’s PO matching algorithm intelligently links line-items from invoices to line-items in purchase orders and automatically applies the proper coding.
  • Receipt-based matching – For customers who use the Intacct PO Receivers workflow to track receipt of ordered items, MineralTree can uniquely match invoice line-items against received quantity. With receipt-based matching, customers can prevent payment from being made before goods have been received.

With MineralTree’s flexible invoice approval routing rules, users can define approval workflows for both PO and non-PO invoices. They can also take advantage of a dedicated exception handling workflow for mismatched PO invoices to ensure quick resolution. Completing the loop, MineralTree automatically syncs vendor invoices to Sage Intacct with links to the original purchase order, ensuring that the PO-to-Invoice reconciliation is complete.

Sage Intacct is the latest ERP system for which MineralTree supports Automated PO Matching. The feature is also currently available for NetSuite, Sage 100, and Xero, along with hundreds of leading ERPs through MineralTree’s Universal Connector.

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Bowmark Capital backs buy-out of Totalmobile

Bowmark

26/10/2020

Bowmark Capital, the mid-market private equity firm, has backed the buy-out of Totalmobile, the UK’s leading independent Field Service Management software provider.

Totalmobile has over 700 customers and 250,000 mobile-workforce users across the public services (government, local authorities, health and emergency services), property, facilities management, transport and infrastructure sectors.

Its technology is used to increase field-based workforce capacity; deliver operational cost savings; enhance compliance assurance; and improve end-customer service quality.

Recent years have seen Totalmobile deliver strong organic growth, transition to a Software-as-a-Service business model and complete four highly successful, complementary product acquisitions.  Since 2018, the company’s revenues have increased by over 45% per annum, with this strong growth continuing throughout 2020 despite the global pandemic.

As part of the transaction, additional funding of over £100 million is being made available to accelerate the company’s successful acquisition programme.

Bowmark partner Stephen Delaney said: “We have followed Totalmobile’s progress for a number of years and been highly impressed by the evolution of its business model, its innovation, and its strong record of recurring revenue growth.  We believe the company is uniquely positioned to capitalise on increasing customer demand in the field services market, and are delighted to have the opportunity to support Jim Darragh and the team in the next stage of growth.”

Totalmobile’s chief executive Jim Darragh commented: “I am nothing more than proud and delighted to have led Totalmobile over the past four years and to see our great team of people build, deliver, expand, and evolve the business into the market-leader it is today.  We still have significant runway ahead of us, and to have attracted investment from one of the UK’s most well-respected private equity firms – Bowmark Capital – validates my pride and excitement for the future.”

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Ardian sells Gantner Technologies to Salto Systems

Ardian

  • 15 October 2020 Expansion Frankfurt am Main, Germany

• Gantner has doubled in revenues since Ardian’s investment began in 2016, creating a technology leader
• The company looks forward to continue this growth path with SALTO Systems

Frankfurt am Main / Nueziders (Austria), 15th October 2020 – Ardian, a world-leading private investment house, has sold GANTNER Electronic Austria Holding GmbH (“Gantner”). The company, which specializes in electronic access, ticketing and billing systems as well as smart locks for lockers, will be acquired by SALTO Systems (“SALTO”), a leading manufacturer of access control and electronic locking solutions. The parties have agreed not to disclose the details of the transaction.

Founded in 1982 and headquartered in Nueziders, Austria, Gantner is a leading European manufacturer of systems that enable automatic and contactless identification, based on RFID (Radio Frequency Identification) and NFC (Near Field Communication) technology.
Gantner systems comprise integrated solutions for membership and visitor management, cashless payments, time recording in business organizations and security. Its customers range across various areas, including fitness clubs and medical fitness facilities), Attraction (water parks, spas, museums and other cultural facilities, ski storage, golf courses and amusement parks), Corporate (smart employee lockers for flexible work models, access control solutions for industrial companies, healthcare staff, public facilities and cashless payment systems for company cafeterias) and Education (universities, libraries and schools).
Since Ardian took a majority stake in Gantner in 2016, the company has continued with its established strategy, providing customers with integrated solutions through targeted investments in research & development, as well as the expansion of the product range.

In June 2017, the product portfolio was expanded to include ticketing and management software for leisure facilities with the acquisition of Syx Automations. This was followed by the acquisition of Contidata in June 2020, with which Gantner expanded its offering to include market-leading cashless payment systems for company cafeterias. As part of its international expansion, the company was able to increase its market share, particularly in the USA, the UK and the Benelux countries. As a result, since 2015 Gantner has doubled in revenues and increased the number of employees from 200 to 450.

Headquartered in Spain, with more than 750 employees in offices spanning 32 countries, SALTO is a global leader in the development and manufacturing of world-class access control solutions, particularly in sectors where security is critical: education, healthcare, commercial, hospitality, retail, working spaces, residential and co-living, and Purpose Built Student Accommodation (PBSA). The company revolutionized access control with a pioneering approach that featured the first stand-alone, battery-powered electronic lock; the SALTO Virtual Network (SVN) data-on-card technology; and the first wireless access control system that combined a stand-alone locking device with online, real-time capabilities — all without using wires or mechanical keys. The company has expanded its portfolio to include world-class software management, cloud solutions, and mobile applications. With the addition of the Gantner portfolio, SALTO will now have the combined strength and joint capacity of one million access points annually.

Elmar Hartmann, CEO of GANTNER, said: “The collaboration with Ardian as an entrepreneurial partner was a true success story. During the past four years, we have been able to continue our steep growth curve and doubled our size. With innovative products and integrated solutions for contactless access, ticketing and billing systems as well as flexible workspaces, we are, becoming a truly global player that significantly shapes the market in our segments. Thanks to the new partnership with Salto, we can expand our product portfolio, take advantage of important synergies, better target our markets and address customer segments with precision. This puts us in an optimal position to continue our growth. I would like to thank Ardian for their excellent cooperation, which was both inspiring and respectful, and look forward to continuing the successful development of our company with SALTO.”

Javier Roquero, SALTO Co-founder and CEO, said adding Gantner to the SALTO portfolio offers a “very bright future.”
“We are very excited to welcome Gantner to the SALTO family,” said Roquero. “The Gantner product suite enriches and diversifies the SALTO product offering, enhancing our end user experience and improves our ability to continue to deliver the absolute best in electronic access control.”

Dirk Wittneben, Managing Director at Ardian and responsible for the investments of the Expansion team in the DACH region, added: “We are proud to have supported Gantner in its internationalization, important strategic acquisitions and the development of new industries and customers. As a result, the company has been able to expand its product range and geographic coverage. We want to take this opportunity to thank Gantner’s management team and employees for their trust and cooperation. We know SALTO is a good fit for further development in the future.”

ABOUT GANTNER

Founded in Schruns, Austria in 1982, the company is widely considered to be a pioneer in contactless electronic access management and time recording systems in its core segments. Gantner offers its customers solutions based on RFID and NFC technology for use in gyms, public pools and spas, theme parks, universities and libraries, and in commercial properties and public buildings. The solutions include access systems, electronic locking and locker systems, cashless payment, cash register and billing systems, staff time recording systems as well as ticketing and management software for leisure facilities.
Gantner operates in around 70 countries worldwide and has subsidiaries in Germany, Belgium, the Netherlands, the UK, Dubai, India, Australia, and the USA. The company has a worldwide workforce of 450. Elmar Hartmann has been managing director since 2003.

Visit the website

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$100bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 700 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT SALTO SYSTEMS

SALTO Systems is a global leader in the development and manufacture of world-class access control solutions, particularly in sectors where security is critical: education, healthcare, commercial, hospitality, retail, working spaces, residential and co-living, and Purpose Built Student Accommodation (PBSA). The company revolutionized access control with a pioneering approach that featured the first stand-alone, battery-powered electronic lock; the SALTO Virtual Network (SVN) data-on-card technology; and the first wireless access control system that combined a stand-alone locking device with online, real-time capabilities — all without using wires or mechanical keys. Its leading-edge hardware and software technologies are in use worldwide with 5 million access points and an estimated 40 million daily users. SALTO has local offices in 32 countries and a partner network that extends its reach to nearly every region of the globe.

Visit the website

ADVISORS ON THE TRANSACTION

  • Ardian

    • Dirk Wittneben, Marc Abadir, Max Dolata, Marlon Sandvoss
    • Financial: Deloitte (Egon Sachsalber, Tanya Fehr, Timo Weingärtner)
    • Commercial: goetzpartners (Sigurd Kitzer, Dr. Norbert Danneberg, Dr. Burak Yahsi)
    • ESG: INDEFI (Emmanuel Parmentier, Joanna Tirbakh, Renaud Muller)
    • Legal Corporate: Willkie Farr & Gallagher (Dr. Maximilian Schwab, Dr. Matthias Schudlo)
    • Legal Finance: Willkie Farr & Gallagher (Dr. Ralph Defren, Christopher Clerihew)
    • Tax: Taxess (Gerald Thomas, Richard Schäfer)
    • M&A Advisory: GCA Altium (Alexander Grünwald, Thomas Eulau)

PRESS CONTACT

ARDIAN – CHARLES BARKER CORPORATE COMMUNICATIONS

PETER STEINER

ardian@charlesbarker.de +49 69 79409027

JAN P. SEFRIN

ardian@charlesbarker.de +49 69 79409026

SALTO SYSTEMS

ION MURGA

i.murga@saltosystems.com +34 943 344 550

 

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SYMPLR to acquire TRACTMANAGER

Arsenal Capital Partners

October 23, 2020

Acquisition will further establish symplr as the leading cloud healthcare governance, risk and compliance software platform and will accelerate product innovation and growth

SANTA MONICA, CA and HOUSTON, TX – October 23, 2020 – symplr, a leading global healthcare governance, risk management, and compliance (“GRC”) software-as-a-service (“SaaS”) platform, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and SkyKnight Capital (together with its affiliates, “SkyKnight”), today announced that it has signed a definitive agreement to acquire TractManager (or the “Company”) from Arsenal Capital Partners (“Arsenal”). Financial terms were not disclosed.

This powerful combination will deliver the healthcare industry’s most complete end-to-end GRC software and services platform. symplr’s SaaS platform will now serve as the single source of truth for provider data management, workforce management, vendor and visitor management, contract management, spend management, compliance, quality, and patient safety. The symplr platform addresses the full spectrum of healthcare labor and supply chain regulatory requirements while supporting the delivery of improved quality of care and patient outcomes.

TractManager’s technology and professional services optimize the business of healthcare through contracting, sourcing, and provider management solutions. TractManager’s expert workforce and rich history of innovation in healthcare technology make this acquisition a winning strategy for the healthcare industry.

Together with TractManager, symplr will enable healthcare organizations to manage provider and supply chain data, including credentials, authorizations, privileges, quality metrics, staffing, time & attendance, contracts, and spend across employees and third parties. Additionally, customers will benefit from the expanded scale, platform innovation, corporate resources, and service capabilities that the combined company will deliver.

Growth through acquisition, coupled with innovation, is an integral part of symplr’s business strategy to deliver the industry’s leading healthcare GRC SaaS platform. The acquisition of TractManager represents symplr’s tenth successful acquisition in the past six years, and its fifth under sponsorship from Clearlake and SkyKnight since November 2018.

“We are thrilled to welcome TractManager to the symplr family,” said Rick Pleczko, CEO, and Tres Thompson, COO, of symplr. “TractManager’s cloud solutions bring powerful new capabilities to our customers’ connected GRC enterprise, enabling additional insights to drive improved quality of care and financial performance. Our expanding, end-to-end SaaS platform is a one-of-a-kind single source of truth for GRC-related data for providers, payers, and health systems.”

“Since our sponsorship of the company in 2018, symplr has successfully executed on its growth strategy, delivering increased revenue and significant product innovation,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. “This acquisition enhances symplr’s position as a cloud industry leader, and we are excited to support the management team as they continue to execute on our buy-and-build strategy while driving meaningful value for providers and payers.”

“This combination will enable TractManager and symplr to make an even greater, positive impact on our clients and the healthcare industry as a whole,” said Trace Devanny, CEO of TractManager.

“We are proud to have supported the talented team at TractManager in building market-leading solutions that enable hospitals, physician practices, and payers to deliver better outcomes for patients,” said Gene Gorbach, an Investment Partner of Arsenal. “We are excited about the next chapter of TractManager’s growth in combination with symplr.”

“TractManager’s solutions are highly complementary to symplr’s existing offerings, and we look forward to further investing in these capabilities to provide a best-in-class platform to the combined customer base,” said Jordan Milich and Claude Burton of SkyKnight.

Credit Suisse AG, Goldman Sachs Bank USA, Antares Capital LP, Ares Management funds, Deutsche Bank Securities Inc., Golub Capital LLC and Jefferies LLC are providing debt financing for the acquisition. Sidley Austin LLP served as legal advisor to symplr. Harris Williams & Co. served as financial advisor and Morgan, Lewis & Bockius LLP served as legal advisor to TractManager.

About symplr

Founded in 2006, symplr is a global leader in enterprise Governance, Risk Management, and Compliance (GRC) SaaS solutions. symplr focuses on a single mission: to make healthcare GRC simpler and more efficient for the global healthcare community. The symplr platform offers solutions that span provider data management, provider credentialing services, compliance, patient safety, workforce management, and vendor management. Our customers count on us every day to help protect and streamline their businesses with reliable and innovative GRC solutions. More information is available at www.symplr.com.

About TractManager

TractManager’s healthcare-specific application suite serves three out of five U.S. hospitals. Serving the healthcare industry with integrity for more than 30 years, TractManager is the first mover in strategic sourcing, enterprise contract lifecycle management, provider management and evidence-based data. The company’s more than 450 highly skilled and experienced professionals help clients to improve cash flows by reducing their capital and nonlabor costs and to conform their contract, policy, and procedure management to meet regulatory requirements. For more information, visit tractmanager.com.

About Clearlake Capital

Clearlake Capital Group, L.P. is a leading investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials and consumer. Clearlake currently has approximately $25 billion of assets under management and its senior investment principals have led or co-led over 200 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.

About SkyKnight Capital    

Founded in 2015, SkyKnight Capital manages over $1 billion in private equity capital on behalf of leading institutional family offices, foundations, and endowments. SkyKnight makes long-term investments into high quality businesses in acyclical growth sectors alongside exceptional management teams. SkyKnight aims to build category-leading businesses with a clear growth orientation in healthcare, insurance, and business services. More information is available at www.skyknightcapital.com.

About Arsenal Capital Partners

Arsenal is a leading private equity firm that specializes in investments in middle‐market healthcare and specialty industrials companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed more than 200 platform and add-on investments and achieved more than 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value‐add.  For more information, please visit www.arsenalcapital.com.

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symplr to acquire TractManager

Arsenal Capital Partners

October 23, 2020

Acquisition will further establish symplr as the leading cloud healthcare governance, risk and compliance software platform and will accelerate product innovation and growth

SANTA MONICA, CA and HOUSTON, TX – October 23, 2020 – symplr, a leading global healthcare governance, risk management, and compliance (“GRC”) software-as-a-service (“SaaS”) platform, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and SkyKnight Capital (together with its affiliates, “SkyKnight”), today announced that it has signed a definitive agreement to acquire TractManager (or the “Company”) from Arsenal Capital Partners (“Arsenal”). Financial terms were not disclosed.

This powerful combination will deliver the healthcare industry’s most complete end-to-end GRC software and services platform. symplr’s SaaS platform will now serve as the single source of truth for provider data management, workforce management, vendor and visitor management, contract management, spend management, compliance, quality, and patient safety. The symplr platform addresses the full spectrum of healthcare labor and supply chain regulatory requirements while supporting the delivery of improved quality of care and patient outcomes.

TractManager’s technology and professional services optimize the business of healthcare through contracting, sourcing, and provider management solutions. TractManager’s expert workforce and rich history of innovation in healthcare technology make this acquisition a winning strategy for the healthcare industry.

Together with TractManager, symplr will enable healthcare organizations to manage provider and supply chain data, including credentials, authorizations, privileges, quality metrics, staffing, time & attendance, contracts, and spend across employees and third parties. Additionally, customers will benefit from the expanded scale, platform innovation, corporate resources, and service capabilities that the combined company will deliver.

Growth through acquisition, coupled with innovation, is an integral part of symplr’s business strategy to deliver the industry’s leading healthcare GRC SaaS platform. The acquisition of TractManager represents symplr’s tenth successful acquisition in the past six years, and its fifth under sponsorship from Clearlake and SkyKnight since November 2018.

“We are thrilled to welcome TractManager to the symplr family,” said Rick Pleczko, CEO, and Tres Thompson, COO, of symplr. “TractManager’s cloud solutions bring powerful new capabilities to our customers’ connected GRC enterprise, enabling additional insights to drive improved quality of care and financial performance. Our expanding, end-to-end SaaS platform is a one-of-a-kind single source of truth for GRC-related data for providers, payers, and health systems.”

“Since our sponsorship of the company in 2018, symplr has successfully executed on its growth strategy, delivering increased revenue and significant product innovation,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. “This acquisition enhances symplr’s position as a cloud industry leader, and we are excited to support the management team as they continue to execute on our buy-and-build strategy while driving meaningful value for providers and payers.”

“This combination will enable TractManager and symplr to make an even greater, positive impact on our clients and the healthcare industry as a whole,” said Trace Devanny, CEO of TractManager.

“We are proud to have supported the talented team at TractManager in building market-leading solutions that enable hospitals, physician practices, and payers to deliver better outcomes for patients,” said Gene Gorbach, an Investment Partner of Arsenal. “We are excited about the next chapter of TractManager’s growth in combination with symplr.”

“TractManager’s solutions are highly complementary to symplr’s existing offerings, and we look forward to further investing in these capabilities to provide a best-in-class platform to the combined customer base,” said Jordan Milich and Claude Burton of SkyKnight.

Credit Suisse AG, Goldman Sachs Bank USA, Antares Capital LP, Ares Management funds, Deutsche Bank Securities Inc., Golub Capital LLC and Jefferies LLC are providing debt financing for the acquisition. Sidley Austin LLP served as legal advisor to symplr. Harris Williams & Co. served as financial advisor and Morgan, Lewis & Bockius LLP served as legal advisor to TractManager.

About symplr

Founded in 2006, symplr is a global leader in enterprise Governance, Risk Management, and Compliance (GRC) SaaS solutions. symplr focuses on a single mission: to make healthcare GRC simpler and more efficient for the global healthcare community. The symplr platform offers solutions that span provider data management, provider credentialing services, compliance, patient safety, workforce management, and vendor management. Our customers count on us every day to help protect and streamline their businesses with reliable and innovative GRC solutions. More information is available at www.symplr.com.

About TractManager

TractManager’s healthcare-specific application suite serves three out of five U.S. hospitals. Serving the healthcare industry with integrity for more than 30 years, TractManager is the first mover in strategic sourcing, enterprise contract lifecycle management, provider management and evidence-based data. The company’s more than 450 highly skilled and experienced professionals help clients to improve cash flows by reducing their capital and nonlabor costs and to conform their contract, policy, and procedure management to meet regulatory requirements. For more information, visit tractmanager.com.

About Clearlake Capital

Clearlake Capital Group, L.P. is a leading investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials and consumer. Clearlake currently has approximately $25 billion of assets under management and its senior investment principals have led or co-led over 200 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.

About SkyKnight Capital    

Founded in 2015, SkyKnight Capital manages over $1 billion in private equity capital on behalf of leading institutional family offices, foundations, and endowments. SkyKnight makes long-term investments into high quality businesses in acyclical growth sectors alongside exceptional management teams. SkyKnight aims to build category-leading businesses with a clear growth orientation in healthcare, insurance, and business services. More information is available at www.skyknightcapital.com.

About Arsenal Capital Partners

Arsenal is a leading private equity firm that specializes in investments in middle‐market healthcare and specialty industrials companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed more than 200 platform and add-on investments and achieved more than 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value‐add.  For more information, please visit www.arsenalcapital.com.

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Dunedin backed GPS secures investment from Visa

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Dunedin

GPS,

the  leading payments issuer processor, has secured a strategic investment from long-standing partner Visa Inc. to accelerate its global expansion. GPS powers next generation fintech payment companies and sits behind many of the world’s most exciting fintech companies and digital banks including Revolut and Starling Bank.
GPS was backed by UK private equity firm Dunedin in June 2018, in what was the largest B2B fintech financing in the first half of 2018. Since then, it has achieved spectacular growth with its operations expanding from the UK into Europe and APAC and year on year revenue growth exceeding 30%. Dunedin has a successful track record of investing in businesses that have cutting edge technologies at the core of what they do, particularly within the payments and insurance sub-sectors of financial services.
Oliver Bevan, Partner at Dunedin who sits on the Board of GPS, commented: “Since we invested just over two years ago, GPS has shown phenomenal growth and this investment from Visa, a global leader in payments technology, is testament to the business’ outstanding reputation. GPS has a strong relationship with Visa across four continents and the investment will allow the business to further expand its global reach.”
He added: “The global payments industry is seeing record growth, particularly given the current preference for digital payments over cash transactions. GPS has been a major contributor to the fintech revolution, being the only issue processor of its kind to support fintechs, challenger banks and e-wallet providers on their growth journey. This is a core area of expertise for Dunedin and we are actively seeking new investments within the payments industry.”
With the support of the UK Department for International Trade’s Fintech Bridges and the Singaporean Economic Development Board, GPS successfully expanded into the APAC region last year and has already delivered successful programmes including Xinja, a new digital banking experience in Australia and WeLab Bank, the first virtual bank and only domestic neo bank in Hong Kong. Having been selected as a preferred issuer processor for Visa’s APAC Fintech Fastrack programme, GPS has worked closely with Visa to deliver a next generation showcase for the 2021 Tokyo Summer Olympics.
Moving forward, the company intends to replicate its European and APAC accomplishments across other regions as a Visa preferred processor.

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Volpi Capital invests in Boyum IT Solutions

Volpi Capital

London, 22 October 2020: Volpi Capital (“Volpi”), a specialist European lower mid-market private equity firm, announces its eighth investment with the management buyout of Boyum IT Solutions (“Boyum”), a global SAP Business One Software Solutions Provider based in Denmark.

Boyum is the leading Software Solution Provider in the SAP Business One ERP ecosystem targeting the upper SME segment globally. The company has succeeded in establishing an unmatched distribution network of partners through an attractive product offering and comprehensive partner enablement efforts. Boyum offers 3 award-winning and mission critical software product families: Boyum: Horizontal software solutions enhancing flexibility and user-friendliness of SAP Business One, Beas Manufacturing: Advanced manufacturing software tailored to 13 distinct industry verticals and Produmex: Logistics/warehouse management software. Boyum is headquartered in Aarhus, Denmark and employs c.100 people in 7 global offices.

Marco Sodi, Volpi Capital, commented: “Boyum fits well into our thesis for independent developers of software solutions for winning ERP ecosystems, such as SAP Business One. The Company has shown how to create growth through a strong partner focus, technological expertise and a unique way to enable their partner channel. The potential is great for Boyum IT Solutions globally, and we look forward to partnering with Mikael Boyum and his team to accelerate their successful business model”.

Mikael Boyum, founder and CEO of Boyum IT Solutions, added: “We are confident that the partnership with Volpi Capital will help to create an exciting future for the company, employees and partners. Strategic support from Volpi will strengthen our continued growth plans and business potential”.

Volpi Capital was advised by Carnegie, Kromann Reumert and PwC.

Media enquiries Volpi Capital
Samantha Lang
Public Relations
+44 203 747 2625
sam@volpicapital.com

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, which was founded in 2016 by Crevan O’Grady and Marco Sodi, closed its first fund (Volpi Capital Fund I) in April 2018 with commitments of €185 million.

http://www.volpicapital.com

ABOUT BOYUM IT SOLUTIONS

Boyum IT Solutions is a global award-winning SAP Business One implementation, consultancy and development house with more than 8,000 customers worldwide. Their strong individual skill sets combined with fast and efficient implementation methodology make them one of the strongest teams in the field.

Founded in Denmark in 1997, Boyum IT has been implementing and supporting ERP Accounting Software for more than 15 years. In 2004, Boyum IT became an authorized Partner for the SAP Business One system and the company is today a certified SAP partner.

https://www.boyum-solutions.com

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Triton acquires HiQ

Triton

Triton acquires HiQ

22.10.2020

Stockholm (Sweden), 22 October 2020 – Triton Fund V (“Triton”) through Trisall AB (“Trisall”) is the owner of 91 percent of the shares in HiQ International AB (“HiQ”)

This follows Tritons public offer, through Trisall to the shareholders of HiQ to tender 100% of the shares at a purchase price of 72 SEK per share. The shares tendered in the public offer as of 19 October 2020 amounts to in aggregate 50,871,458 shares in HiQ, corresponding to approximately 91 per cent of the share capital and the voting rights in HiQ.

Trisall has initiated compulsory acquisition of the remaining shares in HiQ and is promoting a de-listing of HiQ’s shares from Nasdaq Stockholm. HiQ is a leading Nordic digital transformation company with a reputation of having among the strongest industrial and technology expertise in their market and is recognized as one of the leaders in custom application development for R&D, as well as for very strong digitalization and design capabilities. Digital services, systems and products are at the core of HiQ’s business offer which span the entire tech and media landscape, from initial business development and digital innovation of new services, business models and experience, all the way to implementation and marketing of these services.

“Triton has a tradition of investing in companies with high potential and is working closely with them to unlock such potential. With HiQ, we are now adding a top-class company to our portfolio, characterized by its expertise and strong culture. We look forward to actively supporting the management and employees of HiQ as a stable owner by investing in the growth and development of the company into a Northern European leader “, said Peder Prahl, Director of the General Partner for the Triton funds.

On 26 August 2020, Triton Fund V, through Trisall announced a public offer to the shareholders HiQ to tender all their shares in HiQ to Trisall for SEK 70 per share. The price was increased on 15 September 2020 to SEK 72 per share.

 

About HiQ

HiQ helps to make the world a better place by using technology and communication solutions to make people’s lives simpler. HiQ is the perfect partner for everyone eager to achieve results that make a difference in a digital world. Founded in 1995, HiQ currently has close to 1500 specialists in four countries and is listed on the Nasdaq Stockholm MidCap list.

For further information: www.hiq.se

 

 

About Triton

Since its establishment in 1997, Triton has sponsored nine funds, focusing on businesses in the industrial, business services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth.

The 45 companies currently in Triton’s portfolio have combined sales of around €18,2 billion and around 100,800 employees.

For further information: www.triton-partners.com

Press Contacts

Triton
Fredrik Hazén
Phone: +46 709 483 810

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Graphite Capital acquires software services provider, Ten10

Graphite

Graphite Capital, a leading UK mid-market private equity specialist, has backed the management buy-out of Ten10, a leading independent UK quality engineering and software testing services provider.
Ten10 has a large and diversified customer base of approximately 100 blue-chip organisations across the financial services, retail, legal and public sectors.

Ten10’s services help customers manage the commercial and financial risks involved in developing, implementing, upgrading and integrating software to enable them to comply with regulatory change, support business growth, increase customer satisfaction or reduce costs.
The company has more than 250 staff, with offices in London, Leeds and Raleigh, North Carolina. Combining market-leading tools and methodologies with wide-ranging specialist consulting expertise, it provides clients with a flexible and cost-effective resource on a project, outsourced, or in-house basis.

It also operates an award-winning academy which provides graduates with industry-leading training in business analysis, software development, testing, DevOps and robotic process automation (RPA).
The management team is led by Chris Shaw who has repositioned the business and overseen a period of strong growth since his arrival as chief executive in September 2017. In the two years to April 2020, revenues increased by 28 per cent to more than £26 million. The management team has reinvested a substantial percentage of its proceeds as part of the deal.

Ten10 is forecast to continue to grow strongly in the UK and to expand further in the fast-growing North American market. The £1 billion UK quality engineering and software testing market is forecast to grow by 7 per cent a year to 2023. The £4 billion North American market is expected to increase at or above this rate over the same period.
Chris Shaw said: “We have known Graphite for a long time and believe they will be great partners for Ten10. Graphite has a strong track record of supporting technology-enabled businesses to become leaders in their sector. Their expertise will be invaluable as we continue the development of our software testing, DevOps and RPA services and accelerate our international expansion.”

Graphite partner Humphrey Baker commented: “We are looking forward to supporting Chris and his team in the next chapter of Ten10’s development. The company has a strong position in its market, with exciting organic growth prospects driven by an increasing demand for automation skills and the continuing growth of software development as companies seek to become more technology-enabled.”
Mike Tilbury, head of new investment at Graphite, John Western, investment director, and Zoe Jackson, investment executive, also worked on the transaction.

Shawbrook Bank provided the debt finance for the transaction.

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