Tag Archives: Information technology

CD&R Completes Acquisition of Epicor, Leading Software Provider to Industrial Sectors

Clayton Dubilier Rice

Eppicor logo

Wednesday, October 14, 2020
New York, NY

Clayton, Dubilier & Rice today announced the closing of CD&R funds’ acquisition of Epicor, a global provider of industry-specific enterprise software to industrial sectors. The transaction is valued at $4.7 billion.

Epicor is a leading enterprise software vendor delivering cloud-enabled services to more than 20,000 customers globally. Epicor’s flagship products are curated to support complex, vertical-specific workflows and provide mission-critical support to customers seeking to drive growth and profitability in their own businesses. Epicor is an acknowledged leader in the industrial end markets it serves, including manufacturing, distribution, retail, and services categories.

Upon the close, CD&R Partner Jeff Hawn assumed the role of Chairman of the Epicor Board. Mr. Hawn has more than 20 years’ experience across a range of senior executive roles in software and technology-related businesses, including serving as Chairman and Chief Executive Officer of Quest Software, Vertafore, and The Attachmate Group.

“We believe Epicor is positioned to accelerate growth in the coming years based on the company’s reputation for quality and reliability and impressive portfolio of next-generation cloud products,” said Mr. Hawn. “We are focused on applying CD&R’s experience—both in software and industrial end markets—to support the talented Epicor management team and its growth plans, including the pursuit of strategic acquisitions.”

About Epicor Software Corporation
For almost 50 years, Epicor Software Corporation has specialized in helping its customers grow their businesses, expand their capabilities, increase their productivity, and improve efficiencies. A leader in Enterprise Resource Planning for medium-sized businesses, Epicor serves as a trusted partner for thousands of companies worldwide across key industries, such as manufacturing, distribution, and retail. Through its innovative services and unparalleled vertical knowledge, Epicor is creating a world of better business for its customers, building in its unique business processes and operational requirements into every one of its solutions―in the cloud or on premises. For more information, connect with Epicor or visit www.epicor.com.

About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on enhancing the value of the businesses it acquires by supporting long-term growth, productivity, capital efficiency, and related strategic measures. Since inception, CD&R has managed the investment of more than $30 billion in 94 companies with an aggregate transaction value of approximately $150 billion. The Firm has offices in New York and London. For more information, visit www.cdr-inc.com.

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Lingit acquires LexAble to support international growth

Verdane Capital

TRONDHEIM, Norway — Lingit, a Verdane-owned software company offering multilingual literacy support for dyslexics and others with reading and writing difficulties, continues its international expansion with the acquisition of LexAble, a British technology company providing automatic and immediate text correction.

Many people have difficulties acquiring basic writing and/or reading skills, often due to dyslexia. Lingit develops language technology which makes reading and writing easier. The software supports users with spelling, word choice and reading on computers and tablets. It allows users to “read with their ears”, making it less likely for spelling mistakes to occur. This enables users to read more and produce better texts.

In 2018, Norway-based Lingit made its first foray into international markets through the acquisition of Claro Software, a British peer that offers similar solutions as Lingit. Claro Software has a strong foothold in the UK and sales in several European countries including France, the Netherlands, Italy, Spain and Sweden.

Lingit now continues its international expansion through the acquisition of LexAble. Founded in 2007 by Neil Cottrell, who has dyslexia, the company was born out of a wish to create a solution to the personal challenges he was facing when reading and writing. Through establishing LexAble, he was also able to help others in the same situation.

“LexAble has developed an exciting software for automatic text correction as you write. The software has high professional and technological credibility in the market. The technology is developed so that all corrections by the software are aggregated from users in a central database, currently consisting of more than 1.5 million validated autocorrections. This way, the underlying language resources are continuously improved as the software corrects text,” says Frode M. Thulien, CEO of Lingit.

 

As with Lingit and Claro Software’s solutions, LexAble’s software also works on PC, Mac and several other platforms.

“We aim to further improve our software by including LexAble’s technology in the Lingit family. It will allow us to strengthen our offering towards English language education in Norway and for Claro Software’s users, and is also an important step in further international expansion to English speaking markets.”, says Thulien.

“Norway is at the forefront in recognising reading and writing difficulties, and in understanding which approach gives the best results. We are also ahead of the curve with regards to use of digital tools in education. These represent important drivers for the adaptation of reading and writing aids, also internationally. Our experience from our home market, combined with our unique technology and methodology, gives us a clear advantage when entering new markets,” Thulien continues.

Lingit’s revenues amounted to NOK 34 million in 2017, when the Northern European specialist growth investor Verdane became majority shareholder and Lingit’s international growth strategy was implemented. The goal is to reach more than NOK 130 million in revenues in 2020, including completed acquisitions.

“We have set a new standard for reading and writing support software. Our employees are passionate about language and learning, and are privileged to see the impact our software can have on those in need of such support. Our tools provide help to both children and adults in managing and compensating for their difficulties, so that they can have the same education, work and career opportunities as everyone else. We know our technology can help millions of dyslexics across the world and the acquisition of LexAble will allow us to help even more people,” says Thulien.

The parties have agreed not to disclose the terms of the deal.

About Lingit AS

The language technology company Lingit AS is Northern Europe’s leading provider of software for reading and writing support. Founded in Trondheim, Norway, in 2001, the company has since helped tens of thousands of children, students and adults to manage and compensate for their reading and writing difficulties. Lingit aims to contribute to increased inclusion and equal opportunities in work and education through its unique technology and method. With a solid position in the Norwegian market, the company is now expanding internationally, aiming to help more people. Lingit acquired British Claro Software in 2018, a company with a strong foothold in the UK and sales to several European countries. In 2020, the British text correction company LexAble joined the Lingit family. Lingit is headquartered in Trondheim, with offices in Bergen, Cardiff and Manchester and a development department in Ukraine. www.lingit.no

About Verdane

Verdane is a specialist growth equity investment firm that partners with ambitious Northern European tech-enabled businesses to help them reach the next stage of international growth. Verdane pioneered portfolio acquisitions in Northern Europe in 2003, and announced a complementary fund strategy entirely dedicated to direct investments in 2018. Verdane’s eight funds hold €2bn in total commitments and have made over 120 thematic investments in digital consumer, energy & resource efficiency and software businesses. Category leaders backed by Verdane include Brightpearl, Freespee, HIVE Streaming, Hornetsecurity, Inriver, Lingit and Talentech. Verdane’s team of 61, based in Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the best growth partner in Northern Europe. www.verdane.com

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Sovereign backed car park management solutions business Premier Park makes third acquisition

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Sovereign Capital Partners, the UK private equity Buy & Build specialist, is pleased to announce that portfolio company Premier Park, a leading provider of car park management solutions, has acquired Park Watch.

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This is the third acquisition Premier Park has made since Sovereign backed the business in May 2019 to meet the increasing demand for its services through organic growth and strategic acquisitions.

Established in 2012, Park Watch provides car park management solutions to private car parks in the UK. Based in Cheshire, the business manages sites for a range of enterprise, property management agent and SME clients and strengthens Premier’s North West presence. In 2019 Premier Park acquired UK Car Park Management (UKCPM), one of the UK’s largest providers of car park management solutions and Automatic Number Plate Recognition (ANPR) services to enterprise and SME customers. Like Premier, UKCPM installs and manages ANPR cameras and provides patrol services to monitor usage, prevent abuse and ensure legitimate users have parking access. This was followed by the acquisition of Stafford-based iView, a proprietary software business which provides ANPR processing capability to the wider parking sector.

The acquisitions have built the Group to become an integrated and scaled car park management business delivering an end-to-end service with market leading proprietary technology and internal processing capabilities. This latest acquisition takes the total number of sites under management across the UK to over 7,000 and brings the number of staff to c.160.

At the time of Sovereign’s investment in Premier Park Paul Dawson, Group CEO, joined the business. Paul had spent c.18 years working at Capita plc and held various senior management roles including CEO of ParkingEye and divisional MD of Capita Parking Services. Andy Parker, the highly experienced former Group CEO of Capita plc joined the business as non-executive Chairman.

Jonathan Thorne, Director, Sovereign Capital Partners commented:

“Premier Park is a high-quality business led by an exceptional management team. Park Watch, like Premier Park, is operating at activity levels close to pre-lockdown and the Group is performing well. We look forward to continuing to partner the team as Premier Park seeks new opportunities to grow in what is a fragmented and growth market.”

Paul Dawson, Group CEO, Premier Park said:

“This is a really exciting time and I am pleased to welcome Park Watch to the Group. Our business has grown rapidly over the last year and we have fantastic capability which we will continue to develop whilst remaining fully focused on the quality of service we deliver to our clients.”

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Allegro.eu IPO commences trading on the Warsaw Stock Exchange

Cinven

Investment in the customer proposition, management team and platform drives value creation.

Allegro.eu (“Allegro” or “the Group”), a global top ten e-commerce platform and the leading and most recognised internet brand in Poland, completed its successful listing on the Warsaw Stock Exchange (“WSE”) today with its shares trading under the symbol “ALE”.  The listing, which was executed via a placing to both institutional and retail investors, represents the largest initial public offering (“IPO”) on the WSE to date. At the IPO price of PLN 43 per share, the implied market capitalisation is PLN 44 billion (€9.8 billion).

Funds advised by Cinven, Permira and Mid Europa Partners (together “the Sponsors”) acquired Allegro.eu in January 2017 for US$3.25 billion (€2.75 billion). The value creation strategy involved investing in the experience and convenience of Allegro’s services to both consumers and merchants.  Initiatives included the development of a best-in-class mobile app, improved logistics solutions and pricing tools, and the launch of Allegro SMART! –  the subscription-based loyalty program whose subscriber base has grown to 2.1 million subscribers at 30 June 2020.

The impact of these initiatives, under leadership of Allegro’s Chairman Darren Houston, CEO François Nuyt and the enhanced management team recruited to the Group, has been significant.  Over the lifetime of the Sponsors’ investment, GMV grew by 99%, net revenue by 102% and adjusted EBITDA by 113% on a last-twelve month (“LTM”) basis.  Most recently, GMV growth increased further to 54% (LTM to 30 June 2020) as consumers turned to Allegro to provide them with goods during the ongoing COVID-19 pandemic.

In addition to the significant business growth and value creation, Allegro has seen a substantial increase in employees from 1,380 at the end of 2016 to nearly 2,300 as at 30 June 2020.

Due to the strength of investor demand the original offer of shares was up-sized, with c. 182.6 million shares sold by the Sponsors in the IPO (in aggregate), raising PLN 7.85 billion (€1.76 billion) while retaining an aggregate equity stake in the Group of c. 73% post-listing (before exercise of the over-allotment option).  Should the over-allotment option be fully exercised, the Sponsors will realise a further PLN 1.38 billion (€308.72 million).

Commenting on the IPO, David Barker, Partner of Cinven said:

“When we originally invested in Allegro in 2017, it was a good business with a good reputation. We brought in a new management team, led by the highly experienced Chair, Darren Huston, and CEO, François Nuyts. Together with management and our co-shareholders, we focused on improving the experience for both customers and merchants on the platform and created the ongoing improvements evident in the operating metrics and financial performance of the business. As a result, Allegro is now a great business with an excellent reputation and has an exciting outlook for future growth.”

Richard Sanders, Partner of Permira added:

“Over the last four years, Allegro has grown from strength to strength. With a long-term growth mindset, the company has continued to make significant investments in headcount and technology to improve the consumer and merchant experience. This has spanned everyday retail basics – such as lowering prices and broadening selection – to longer-term strategic bets like Smart!, which are fundamentally transforming the quality of the online shopping experience in Poland. Today marks the next step in the company’s growth trajectory, and we are very excited to continue working with Darren, Francois and the management team.”

Paweł Padusiński, Partner and Head of Warsaw Office of Mid Europa Partners added:

“Allegro’s success story is one of the best testimonies to Mid Europa’s strategy focused on supporting the leading consumer facing businesses in Poland and Central Europe. During our investment in Allegro, we have provided our local investor perspective to the Board and, through our Warsaw based team, have worked closely with Allegro’s highly talented and motivated management. Jointly with our partners, we have helped develop Allegro into a Top 10 global e-commerce marketplace. I am very pleased that this CEE success story was recognized by so many reputable institutional and retail investors. Allegro can now start its new growth chapter as a public company, after having completed the largest ever IPO on the Warsaw Stock Exchange.”

Lazard & Co., Limited acted as Independent Financial Advisor; Goldman Sachs International and Morgan Stanley & Co. International plc acted as global coordinators and joint bookrunners; Barclays Bank PLC, BofA Securities Europe SA, Citigroup Global Markets Limited and Dom Maklerski Banku Handlowego S.A. as joint bookrunners; Santander Bank Polska S.A and BM PKO BP as joint bookrunners and co-offering agents in Poland in connection with its offer to retail investors;  Bank Polska Kasa Opieki Spółka Akcyjna, Crédit Agricole Corporate and Investment Bank, Erste Group Bank AG, Pekao Investment Banking S.A. and Raiffeisen Centrobank AG, as co-lead managers.

Clifford Chance acted as legal counsel to the Issuer; Allen & Overy acted as legal counsel to the underwriters; Greenberg Traurig Grzesiak acted as legal counsel to the underwriters with respect to legal matters of Poland and on the admission of Allegro shares to listing on the Warsaw Stock Exchange; PwC acted as reporting accountant; E&Y acted as tax advisor; FTI Consulting LLP and NBS Communications provided strategic communications advice to Allegro.eu internationally and in Poland, respectively.

 

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Espresso Capital Provides Baird Capital’s Zaloni with $6 Million Credit Facility

Baird Capital

DURHAM, N.C., Oct. 9, 2020 /CNW/ – Espresso Capital announced today that it has provided North Carolina based data software provider Zaloni™ with a $6 million credit facility. The company will use the funds to further expand its sales team, make additional investments in its innovative DataOps software platform, Arena™, and drive revenue growth.

“We’ve found a true partner in Espresso,” said Zaloni CEO Susan Cook. “They’ve given us the flexibility we need to continue to grow our business in a challenging macroeconomic environment. Espresso’s investment will enable us to execute our plan, continue to improve our platform, and accelerate our go-to-market strategy by making strategic investments in sales and marketing.”

“Espresso’s flexible, non-dilutive facility gives us the opportunity to build on the momentum from the launch of Zaloni’s new  Arena™ platform, moves us further toward profitability, and boosts our growth trajectory,” Cook continued.

“Zaloni is a fantastic company with a massive addressable market,” said Espresso Executive Director, Steven Michau. “Between the quality of their leadership team, the value that their platform delivers, and the tailwinds they’re seeing, we see a very bright future ahead for them and are excited to be able to help support their growth.”

Zaloni™ was introduced to Espresso through existing investor Baird Capital. “Part of the value that we bring to our portfolio companies is connecting them to the right players in the ecosystem to help them build their businesses,” noted Jim Pavlik, Partner at Baird Capital. “We’re excited that our introduction to Espresso led to this partnership with Zaloni and provides Susan and her team with additional growth capital to continue to expand their business.”

Cook has been thrilled with the outcome. “Espresso has been tremendous to work with,” she said. “They have a true appreciation for how companies like ours do business and structured a deal that worked. Not only that, there weren’t any surprises along the way. They’re rational, straightforward, and follow through with agreed terms, which resulted in a seamless process. We’ve been thoroughly impressed and are delighted to have them as a strategic partner as we scale our business.”

About Zaloni

At Zaloni™, we believe in the unrealized power of data. Our DataOps software platform, Arena, streamlines data pipelines through an active catalog, automated controls, and self-service consumption to reduce IT costs and accelerate analytics. We work with the world’s leading companies, delivering exceptional data governance built on an extensible, machine-learning platform that both improves and safeguards enterprises’ data assets. To find out more visit http://www.zaloni.com.

About Baird Capital

Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Having invested in more than 310 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in the United States, Europe and Asia, a proactive portfolio operations team and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit www.BairdCapital.com.

About Espresso Capital

Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 270 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at www.espressocapital.com.

SOURCE Espresso Capital

For further information: Kevin Cain, kcain@espressocaptial.com

Related Links

http://www.espressocapital.com/

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Eurazeo Capital enters into exlusive discussions with IK, Raise and the management team to invest in Questel

Eurazeo

Paris, 09 October 2020 –
Eurazeo Capital has entered into exclusive discussions with IK Investment Partners, RAISE Investissement and the management team to invest in Questel, a major worldwide technology player in the area of intellectual property management. Questel develops both SaaS solutions and added-value services focused on patents, designs and trademarks.
Discussions are currently underway with potential co-investors. The financial details will be disclosed following these discussions.

About Eurazeo
• Eurazeo is a leading global investment company, with a diversified portfolio of €18,5 billion in assets under management, including €12,9 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, 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 (0)1 44 15 76 44

MAITLAND/amo
DAVID STURKEN
mail: dsturken@maitland.co.uk
Tel: +44 (0) 7990 595 913

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Bonnier Ventures invests in AI-based HR scaleup Winningtemp

Bonnier Ventures

oktober 8, 2020

Bonnier Ventures, the venture capital arm of family owned holding company Bonnier Group, today announced that it has invested SEK 45 million in Winningtemp – a fast growing HR SaaS scaleup from Gothenburg, Sweden. The investment was part of a SEK 157 million (USD 17.6 million) Series B financing co-led by Bonnier Ventures and UK based investor Frog Capital. Existing investors also participated in the round.

The investment comes on the back of an exciting year for Bonnier Ventures in which the venture capital arm’s annual investment mandate was doubled to some SEK 200 million (USD 22.6 million). The expanded mandate was decided after several years of strong portfolio performance and new funds becoming available from the Bonnier Group’s divestment of Bonnier Broadcasting last year.

Bonnier Ventures will continue on its proven path of taking active minority shareholdings in fast growing technology companies across the early growth stages. With the expanded mandate, the investment arm will now also be able to target later stage companies as well as continue to support companies in the portfolio into later stages in their growth journeys.

Ulrika Saxon, CEO of Bonnier Ventures commented: “We’re very excited to partner with Winningtemp and to support them in growing their employee satisfaction and performance platform outside of the Nordics. This investment ticks a lot of boxes of what we look for: An innovative product within a growing macro area, strong founders, a sound business on a scalability path, and a clear
fit for us to help with growth capital and expertise to accelerate their international expansion from a solid Nordic base. ”

About Bonnier Ventures

Bonnier Ventures is the venture capital arm of family owned Bonnier Group. Bonnier Ventures targets significant minority shareholdings in technology businesses in the early stages of scaling up, typically making initial investments around SEK 20-60 million (USD 2-6 million). Bonnier Ventures works closely with their portfolio companies and provides active support as they scale up.
The portfolio currently includes 16 companies such as Acast, Natural Cycles,Doktor.se and Resolution Games.

For further information, please contact:
Ulrika.saxon@bonnier.se or victor.bodin@bonnier.se
Or visit www.bonnierventures.com

 

Bonnier Ventures investment team, from left: Ulrika Saxon, Matti Zemack, Elisabet Ålander, Olof Sandberg, and in sofa: Jonas von Hedenberg, Victor Bodin (on screen), Dajana Mirborn.

 

About Winningtemp

Winningtemp’s AI-driven platform enables organisations to visualise employee development and gain insights that enhance engagement and mental well-being while minimising stress and staff turnover. The company currently holds 60 employees across four offices in Gothenburg, Stockholm, Oslo and London. More than 100 000 users in over 20 countries engage daily with the platform.
The customer list includes more than 550 companies.

For further information, please contact:
Pierre Lindmark, CEO and founder Winningtemp
E-mail: pierre@winningtemp.com
Or visit www.winningtemp.com

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IK Investment Partners to acquire You Sure

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap II Fund has reached an agreement to acquire a majority stake in You Sure Investments B.V. (“You Sure” or “the Company”) from Synergia Capital Partners (“Synergia”). The transaction is subject to AFM clearance. Financial terms of the transaction are not disclosed.

You Sure is a leading Dutch insurance distribution platform, providing insurance to small businesses and individuals. Operating mainly in the Property and Casualty (“P&C”) segment, You Sure acts both as an insurance broker and a Managing General Agent (“MGA”), and currently serves over 60,000 customers.

Headquartered in Ridderkerk, You Sure employs over 130 people across seven offices in the Netherlands. The Company was founded in 2011 by Ger Knikman and Joep van den Eijkel, who have been active in the insurance industry for over 30 and 40 years, respectively, and have worked together since 2005. You Sure partnered with Synergia in March 2019 and following the sale to IK, the co-founders will be reinvesting in the business to support further growth.

The Company has significantly expanded its footprint over the last nine years through strategic acquisitions, a strong customer focus and its effective IT platform. To date, 35 insurance portfolios have been acquired and integrated into You Sure’s proprietary platform, which the Company plans to continue with IK’s support.

The transaction represents the 11th investment from IK’s €550 million Small Cap II Fund.

Ger Knikman, CEO of You Sure commented: “We have thoroughly enjoyed working with Synergia, and with their support we have achieved our three-year plan in just 18 months. As we embark on the next stage of our growth, we are delighted to partner with IK. With their established presence in the Netherlands and track record of delivering long-term value, we look forward to proceeding with our strategic pipeline of acquisitions while delivering strong organic growth.”

Sander van Vreumingen, Partner at IK and advisor to the IK Small Cap II Fund, said: “You Sure is a strong insurance platform that has shown impressive growth under the leadership of Ger and Joep. We are attracted by the Company’s focus on quality and customers’ relationships driven by its proprietary digital platform. With the sector about to embark on a phase of consolidation, we are excited to partner with You Sure and help the business grow further and deliver even more for its customers.”

Leo Schenk, Managing Director at Synergia, commented: “We have had a fantastic journey with You Sure over the last 18 months and sincerely enjoyed working with Ger, Joep and the team. With a strong platform, ambitious growth strategy and their knowledge of the insurance business, they have a strong future ahead of them with IK.”

For further questions, please contact: 

Maitland/AMO
James McFarlane
T: +44 (0) 20 7379 5151
jmcfarlane@maitland.co.uk 

IK Investment Partners
Nastasja Vojvodic
T: +44 (0) 20 7304 4300
nastasja.vojvodic@ikinvest.com

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €13 billion of capital and invested in over 135 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About IK Small Cap II

The €550 million IK Small Cap II Fund (“IK Small Cap II” or “the Fund”) closed in 2018 and invests in growing businesses across IK’s four core sectors: Business Services, Consumer/Food, Engineered Products and Healthcare. Dedicated investment teams in Amsterdam, Copenhagen, Hamburg, London, Paris and Stockholm look to support businesses with an Enterprise Value of between c. €30 million and c. €100 million across the Benelux, DACH, France, Nordics and the UK. For more information, visit www.ikinvest.com/IK-Funds/ik-small-cap-ii-fund

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Industrial IoT firm Sensolus secures € 3.5 million to enhance visibility in international supply chains

Capricorn

ews

– 06/10/2020

Ghent, Belgium: 6 October 2020 – Sensolus, provider of IoT (Internet of Things)-based asset tracking solutions, has closed a financing round of € 3.5 million. The Belgian firm enables companies to track non-powered assets in supply chains and industrial manufacturing, operating in various industries in more than 15 countries. The financing round is led by btov Partners’ Industrial Technologies Fund in addition to existing investors Annie Vereecken, Capricorn ICT Arkiv and Quest for Growth. The funding will further accelerate the company’s international growth and help realizing its product roadmap.

Logistics and supply chain processes depend on transport carriers such as pallets, boxes, containers, returnable transport packaging and trailers. Currently, most of those non-powered assets are not connected to the internet, resulting in lost and unused assets, stock shortages or under- and overcapacity. Sensolus solves these problems and provides a cost-effective end-to-end IoT solution to track these transport carriers in real-time and optimize the underlying process flows.

Connecting non-powered assets as a crucial step in the process

The solution consists of wireless trackers that are installed as simply as a sticker, last up to 7 years without charging and communicate with the internet in real-time without requiring any other infrastructure. These wireless trackers collect crucial location, activity and sensor data, which Sensolus combines with existing process data to generate supply chain metrics, to alert on anomalies and to detect patterns which can lead to actionable insights for optimizing processes. Multiple industry leaders (e.g. Airbus, Volvo, AB InBev, SUEZ, T.C.R.) rely on Sensolus’ technology to get real-time visibility in their daily operations and save substantial costs.

The capital is raised to accelerate Sensolus’ growth in its existing market segment and to open up new segments in Europe and US. Moreover, the company will expand its solution to connect more types of assets which are omnipresent in the global supply chain.

The digitization of processes in asset-intensive industries is the new normal

Kristoff Van Rattinghe, CEO and co-founder of Sensolus is happy about the investment: “It is great to welcome the international investor btov Partners with their Industrial Tech Fund. We are entering a new era of the connected supply chain we will be connecting millions of non-powered assets in the years to come.”
Today, more than 100.000 non-powered assets are connected to the Sensolus SaaS (Software as a Service) platform. Van Rattinghe is confident that this is just the beginning: “IoT technology has become mature and sufficiently affordable to directly connect all new types of non-powered assets such as boxes and pallets, of which billions of units are rotating invisibly in our world. On the other hand, digitization of processes is a must for our customers to remain cost-effective and competitive in their market. We have exciting years ahead of us.”

Edge-cloud intelligence as key enabler

The interplay between cloud as well as edge intelligence on the tracker makes the Sensolus solution unique. It allows capturing and analyzing the behavior of many different assets in a reliable, energyefficient way and in a wide variety of verticals Sensolus is active in. This cloud/edge combination makes the complex and broad nature of low-power asset tracking available as a plug-and-play solution. Thus, it scales to tracking large fleets of assets without losing control of the operational risk.

Benedikt Kronberger, partner at btov’s Industrial Technology Fund says: “Sensolus’ diverse team possesses significant domain expertise and great technological knowhow in the fields of both hardware as well as software development. Sensolus’ offering, with its low overall total cost of ownership, a long battery life as well as superior analytics capabilities convinced us to join the strong existing investor consortium. Moreover, through its patented technology, the company is ideally positioned to further consolidate its position as a market leader in the fast-growing industrial IoT market for asset tracking and process optimization applications.”

Marc Lambrechts, board member at Sensolus and investment manager at Capricorn Partners says: “From the start, we have been charmed by the capabilities of the Sensolus team to deliver scalable, reliable and mission critical end-to-end solutions to top tier industrial clients. With this additional investment Sensolus will be able to expand further in the journey from collecting quality data to actionable insights.”

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Simplifying recruitment with Artificial Intelligence

San Francisco, 6 October 2020

AllyO

GP Bullhound acted as the exclusive financial adviser to AllyO, a leading HR SaaS and AI company, on the sale of its business to HireVue, the global leader in virtual interviewing and assessments technology, majority owned by the Carlyle Group.

AllyO, based in Palo Alto, California, provides a SaaS AI solution to engage and qualify job seekers, automate recruiting processes, and deliver actionable insights to hiring managers. The company’s platform targets enterprises and was primarily backed by Sapphire and Bain Capital Ventures.

“AllyO is a natural extension to HireVue’s solutions and we are thrilled to become a part of it,” said Sahil Sahni and Ankit Somani, Co-founders of AllyO. “Uniting AllyO’s continuous, personalized candidate engagement with HireVue’s video interviewing and assessments will increase hiring velocity and talent quality for companies, allowing candidates to connect on their own terms to more fully showcase their potential.”

Jonathan Cantwell, Partner at GP Bullhound, stated: “We are proud to have helped AllyO find its ideal strategic partner in HireVue and complete a successful deal for the stakeholders. The combination creates an undisputed leader in the recruitment space. We look forward to seeing their growth and success for years to come.”

This represents GP Bullhound’s 21st transaction in the last year, of which 12 SaaS transactions, and is a further testament to the firm’s expertise in the HCM software sector, having previously advised TextRecruit in its sale to iCIMS, Zugata in its sale to CultureAmp, and Multiposting in its sale to SAP, among others.

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.

For enquiries, please contact:

Jonathan Cantwell, Partner and Head of Software

jonathan.cantwell@gpbullhound.com Brandon Overmyer, Vice President

brandon.overmyer@gpbullhound.com

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