Tag Archives: Information technology

Nordic Capital-backed Signicat acquires Dutch Identity Specialist Connectis to create Europe’s strongest digital identity platform

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Nordic Capital

The combined entity will accelerate Signicat’s share of the identity verification market—worth $15 billion by 2024

Signicat, the Trusted Digital Identity™ company, has acquired digital identity specialist Connectis, to create the most comprehensive digital identity platform in the European market.

Connectis was founded in 2008 and is headquartered in Rotterdam with an office in Bucharest, Romania. Connectis primarily delivers digital identity solutions to customers in the Netherlands, particularly organisations in the public sector, health care, insurance and financial services. The company has 52 employees in total.

Connectis develops secure solutions for online identification, authentication and authorisation for more than 350 organisations to identify over 14 million customers. Its products include:

  • Connectis Identity Broker: With connections to multiple electronic identities, such as eHerkenning, iDIN, DigiD, and more.
  • Connectis Identity & Access Management (CIAM): A comprehensive, yet fast and user-friendly CIAM solution.
  • We-ID eRecognition tokens (eID): A standardised login system supplied as certified supplier in a public-private partnership with the Ministry of the Interior and Kingdom Relations.

As society continues to move online and interactions between consumers, businesses and institutions are becoming predominantly digital and increasingly mobile-first, trust is at a premium. Reducing fraud, and meeting regulatory requirements around digital identification, verification and recurring authentication ensures transactions can proceed with a stronger degree of trust.  The identity verification market alone is set to be worth $15 billion by 2024 (Goode Intelligence, 2019).

Signicat’s and Connectis’ combined expertise forms a strong collaboration from which to continue to drive and shape the digital identity industry in Europe. Signicat’s heritage in the Nordics and Connectis’ footprint in Benelux, particularly in the government and healthcare sector, will be instrumental in developing solutions that tackle some of the most complex digital identity challenges. The combined entity will focus on helping organisations looking to streamline online business while reducing risk and meeting a range of regulations such as KYC and AML. The combined offering now represents the most comprehensive digital identity solution on the market.

“The adoption of digital identity in the Netherlands and Belgium has been impressive, and we are very pleased with now expanding our operations in the region,” states Asger Hattel, CEO of Signicat. “With Connectis joining Signicat, we are not only expanding our reach and customer base, we are creating Europe’s strongest digital identity platform. We are really looking forward to working together and to offer existing and new customers an even stronger digital identity offering.”

“It’s time for Connectis to take the next step, towards a prominent role on the European market.” said Jeroen de Bruijn, CEO, Connectis. “By joining forces with Signicat, we really have the expertise, scale and competence to be an European market leader. We are looking forward to jointly serving customers a market-leading offering and driving innovation in the market.”

“Nordic Capital acquired Signicat a year ago with the ambition to support and accelerate its international expansion and strengthen its position as a leading digital identity platform. This acquisition is an important step to deliver even better digital identity solutions to the market, and Nordic Capital is enthusiastic about supporting Signicat’s continued growth journey in Europe”, said Fredrik Näslund, Partner, Nordic Capital Advisors.

Connectis’ previous owners, SIDN and 2050 Foundation, have reinvested in the combined entity, providing a further endorsement in Signicat’s future.

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About Connectis

Connectis was founded in 2008 and is located in Rotterdam with an office in Bucharest, Romania. Over 14 million customers have been identified using its software and eRecognition tokens, and 70% of all transactions using the eHerkenning identity and authorisation system (one of the most prevalent identity schemes in the Netherlands) are performed using Connectis infrastructure. Connectis allows customers to log in to online services using DigiD, eHerkenning, Facebook, Google, eIDAS, iDIN and many other digital identity methods.

About Signicat

Signicat is a pioneering, pan-European digital identity company with an unrivalled track record in the world’s most advanced digital identity markets. Its Digital Identity Platform incorporates the most extensive suite of identity verification and authentication systems in the world, all accessible through a single integration point. The platform supports the full identity journey, from recognition and on-boarding, through login and consent, to making business agreements which stand the test of time. Signicat was founded in 2007 and is headquartered in Trondheim, Norway.

 

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Smith Technologies Completes Acquisition by Francisco Partners and Rebrands as RedSail Technologies

Franciso Partners

Francisco Partners, a leading technology-focused growth equity firm, has completed its acquisition of Smith Technologies, a leader in pharmacy technology and public sector software, from J M Smith Corporation. The investment by Francisco Partners will help the company accelerate its growth strategy as an independent entity. Terms of the transaction were not disclosed.

As it embarks on a new chapter as a standalone business, the company will be rebranded as RedSail Technologies™. Under this new name, the company will continue to build upon decades of market leadership and will also continue to offer the same solutions under its three core product brands: QS/1®, Integra®, and PUBLIQ®.

In connection with the transaction, Kraig McEwen will join the company as Chief Executive Officer. Kraig McEwen has over 20 years of experience in healthcare technology markets. Previously, McEwen was co-founder of TrellisRx, a leader in the health system specialty pharmacy market. Prior to that, McEwen was the CEO of Aesynt, a market leader in pharmacy medication management solutions.

“I am fortunate to be joining the company at such an exciting time,” McEwen said. “RedSail has developed an unparalleled reputation as a leader across its core markets, and I am grateful for the opportunity to help the company and its employees continue to execute on their vision. Through focused product investments, our goal is to address our customers’ most critical needs, empowering them with innovative software and services.”

“Kraig McEwen is a very accomplished executive in the healthcare technology space, and we are thrilled to have him join RedSail,” said Chris Adams, Co-Head of Healthcare IT at Francisco Partners. “His experience in the pharmacy sector will be invaluable as the company grows and expands its leadership as a standalone business.”

The investment by Francisco Partners marks a transition in ownership from the J M Smith organization, which has grown the company over many decades to provide industry leading software solutions used by thousands of pharmacies and public sector customers across the country.

Piper Sandler & Co. served as financial advisor and Davis Polk & Wardwell LLP acted as legal advisor to J M Smith Corporation. Robert W. Baird & Co. served as financial advisor and Kirkland & Ellis LLP acted as legal advisor to Francisco Partners.

About RedSail Technologies

RedSail Technologies provides healthcare and governmental software solutions to pharmacy and public sector customers across North America. Under its QS/1 and Integra brands, the company designs, builds, and supports industry-leading solutions for the community and institutional pharmacy markets. Under its PUBLIQ Software brand, the company provides software and services for state and local governments, judicial offices, and municipal utilities. The company is headquartered in Spartanburg, SC, with additional offices in Anacortes, WA and Lynnwood, WA.

About J M Smith

J M Smith Corporation was founded in 1925 as a single community pharmacy in Asheville, North Carolina and is now headquartered in Spartanburg, South Carolina. In the decades since, the company has grown to operate business units that supply healthcare and distribution services and technology to pharmacies, institutions, government agencies and businesses across the U.S.

About Francisco Partners

Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch 20 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 275 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit: www.franciscopartners.com

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EG Acquires Holte

Franciso Partners

EG has acquired the software company Holte, the Norwegian market leader within software to the construction industry. The acquisition is part of an ambitious EG-strategy to digitize the construction industry in Scandinavia.

“By combining EG’s and Holte’s product portfolio we can deliver the best solution to manage the complex processes and data flow within the construction industry” says Mikkel Bardram, CEO at EG, and continues “I am impressed with Holte’s deep knowledge of the construction industry and how they have digitized every step of the construction process. I look forward to welcoming Holte’s employees to the EG family.”

Holte is the Norwegian market leader within software for the construction industry with solutions that assist construction companies to manage all steps of a construction process from project calculation to complete documentation and follow up. The company has 8,000 customers and 50,000 users in Norway. The acquisition is a great fit with EG’s leading position in the construction business in Denmark. EG and Holte are both experts within the construction industry and offer a broad set of modules in an integrated software platform. “We transform complex processes into simple intuitive solutions for our customers. By combining the strengths of EG and Holte we create a true Scandinavian champion within software solutions for the entire construction sector” says Jesper Andersen, EVP, EG Private.

EG strongly believes in the need for consolidation within software solutions for the construction industry and has already acquired the Danish construction software company CalWin in October 2019.

“We see EG as an ambitious strong owner who will invest in the continued development of Holte’s solutions in an international market. There is a great potential for a comprehensive digitalization in the construction business” says Eilif Holte, founder of Holte.

Aleksander Bjaaland, CEO in Holte, adds “EG and Holte are a perfect match and our already existing collaboration shows good cultural fit. We share the same focus on long-term customer relationships and high customer satisfaction.” Aleksander Bjaaland will continue as CEO of Holte and Vice President of the combined Construction unit in EG.

EG acquired Holte on 17 March 2020. Seller and buyer have agreed not to disclose further details concerning the sales price and other terms of the transaction.

About EG A/S

EG is a Scandinavian software company with more than 1,000 employees working from 15 skill centres in Scandinavia and Poland. We develop, deliver and service our own software for more than 9,500 private and public clients.

Find out more at https://eg.dk/

About Holte

Holte is a Norwegian leading supplier of software, services and courses within disciplines such as HSE, quality assurance, building permit applications, estimation, third party control, management, operation and maintenance (MOM) and project management.

Holte was established in 1987, has 135 employees and offices in Oslo, Trondheim, Tønsberg og Gdansk.

Find out more at https://holte.no

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Evernex completes its first acquisition since 3i’s investment and expands its presence in Eastern and Southern Africa

3I

Evernex, a leading international provider of third party maintenance (“TPM”) services for data centre infrastructure in which 3i invested in October 2019, has announced the acquisition of Storex, a South African provider of maintenance services for critical data centre equipment.

Storex maintains data centre hardware & critical IT assets, such as servers, storage and business network equipment with a multi-OEM expertise. Its level 1 B-BBEE status (“Broad-Based Black Economic Empowerment”) allows premium access to large South African corporates. Storex serves blue chip clients including banks, OEMs and telecoms companies in South Africa, Kenya and Turkey and has plans to expand into Dubai.

This acquisition will give Evernex local resources to grow its presence in South Africa, combined with the expertise of its seasoned founder who will stay with the business. Evernex and Storex have highly complementary capabilities and the acquisition provides further evidence of Evernex’s ability to integrate smaller businesses into its platform, after acquiring Roer in Argentina in 2019 and A Systems in Brazil in 2018.

Jan Beukes, CEO, Storex, commented: “Both of our companies are well-regarded in the African market and are highly compatible from a business standpoint, with a strong fit. We at Storex look forward to working closely with Evernex to build a strong international base.”

Stanislas Pilot, President and CEO, and Mohamed Bella, CMO and EVP MEA, Evernex, added: “We are delighted to be partnering with Storex. Combining our businesses will strengthen our position in Eastern and Southern Africa and enable us to grow our portfolio of blue-chip clients. Together with the talented teams at Storex, we will aim to provide the best service to our customers in South Africa and globally.”

Frédéric Chiche and Marc Ohayon, 3i France concluded: “Part of the rationale for investing in Evernex last year was to support its consolidation of the market and we believe this acquisition represents a material step towards creating a global market leader in the TPM space.”

3i invested in Evernex in October 2019. Headquartered in Paris, France, Evernex maintains over 200,000 IT systems in c. 160 countries, and has a global network of 34 offices. It is the preferred maintenance partner for multinational companies and has developed a multi-channel and multi-vendor flexible offering. Going forward, additional bolt-on acquisitions are expected to remain a key value-creation driver for Evernex and 3i.

-Ends-

Download the press release  

 

For further information, contact: 

3i Group plc

Silvia Santoro

Investor enquiries

 Tel: +44 20 7975 3258

Email: silvia.santoro@3i.com
Kathryn van der Kroft

Media enquiries

 Tel: +44 20 7975 3021

Email: kathryn.vanderkroft@3i.com

 

Notes to editors:

About 3i Group

3i is an investment company with two complementary businesses, Private Equity and Infrastructure, specialising in core investment markets in Northern Europe and North America.

3i’s Private Equity team provides investment solutions for growing companies, backing entrepreneurs and management teams of mid-market companies with an EV typically between €100m – €500m. We back international growth plans, providing access to our network and expertise to accelerate the growth of companies across the consumer, industrial, healthcare and business and technology services industries.

For further information, please visit: www.3i.com

 

About Storex

Since 2008, Storex, a South African company, is a leading supplier of Third-Party Maintenance services. Storex is specialised in the multi-vendor support, maintenance and life-cycle extension of medium size and enterprise level IT hardware infrastructure. The company is a leading alternative support provider and provides SLA services via a single point of contact, on top of datacentre value-added services, in South Africa, Kenya and Turkey.

For further information, please visit: www.storexsa.co.za

 

Regulatory information

This transaction involved a recommendation of 3i Investments plc, advised by 3i France.

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Industrifonden welcomes ShardSecure to the portfolio

Industriefonden

Today we are excited to announce that Industrifonden participates in ShardSecure’s Over-subscribed Seed Round.

ShardSecure™, the data protection company whose Microshard™ technology helps organizations accelerate cloud adoption by mitigating cloud misconfiguration and data security risks, announced today that Industrifonden has participated in the company’s oversubscribed seed round, joining lead investor SineWave Ventures, Tom Noonan, 500 Startups and others in the investment round originally announced late last year. The Stockholm-based Industrifonden is one of the largest and oldest early-stage venture capital firms in Northern Europe, with US $700 M under management.

“ShardSecure is thrilled to welcome Industrifonden as a significant investor in our growth journey,” said CEO & Co-founder, Bob Lam. “Industrifonden has a long and successful track record of backing early-stage startups. We look forward to working with Hadar and his team as we bring our data protection technology to market this year.”

Industrifonden Investment Director, Hadar Cars, also shared his enthusiasm about the announcement, adding, “Industrifonden is pleased to be adding ShardSecure™ to our portfolio as we see them filling an urgent need in the cloud data protection market. The prevalence of security incidents caused by cloud misconfigurations, and the resulting financial and reputational damages, present a significant hurdle for organizations looking to migrate more of their workloads to the cloud. ShardSecure’s Microshard™ technology tackles the problem at the source by reducing the sensitivity of data, providing a critical security solution that will help organizations accelerate cloud adoption with reduced risk and compliance burden.”

The oversubscribed funding round positions ShardSecure well for growth. Funds will be used to build an experienced sales and marketing team to bring the Microshard data protection technology to market this year as well as to continue strengthening an already robust development team.

Learn more about ShardSecure at www.shardsecure.com.

 

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Francisco Partners to Acquire Pharmacy and Public Sector Software Firm Smith Technologies

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Franciso Partners

Francisco Partners, a leading technology-focused growth equity firm, has announced that it has signed a definitive agreement to acquire Smith Technologies, a wholly-owned subsidiary of J M Smith Corporation, one of the country’s oldest enterprises rooted in the community pharmacy industry. The terms of the transaction were not disclosed.

Smith Technologies, a leader in community pharmacy technology, long-term care technology, and public sector software, will remain headquartered in Spartanburg, South Carolina.

“The acquisition of Smith Technologies by Francisco Partners provides the investment capital that the company has needed for some time,” said Paula Harper Bethea, Executive Chairman of the Board for J M Smith Corporation. “The sale will benefit employees, shareholders and customers alike through this pivotal investment.”

“The legacy of Smith Technologies is one of market creation. They have led the way over many decades in the pharmacy and public sector. We are committed to continuing its exceptional service to existing customers and excited to invest in expanding both their market share and geographic footprint as an independent entity,” said Chris Adams of Francisco Partners.

J M Smith Corporation will remain one of the South Carolina upstate’s largest corporations and will continue to operate as the parent company for Smith Drug Company, RX Medic and SMS. Upon closing of the transaction, the J M Smith Corporation’s board will consider whether to use the sale proceeds for reinvestment in the company, reduction of indebtedness, share repurchases, shareholder dividends or a combination thereof.

About J M Smith

J M Smith Corporation was founded in 1925 as a single community pharmacy in Asheville, North Carolina. In the decades since, the company has grown to operate business units that supply healthcare and distribution services and technology to pharmacies, institutions, government agencies and businesses across the U.S.

About Francisco Partners

Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch 20 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 275 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit: www.franciscopartners.com

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EQT Credit completes unitranche financing to support Mayfair Equity Partners’ acquisition of atHome Group

eqt

EQT Credit, through its Direct Lending investment strategy, is pleased to provide committed senior debt facilities to support Mayfair Equity Partners (“Mayfair”), a buyout and growth capital investor providing capital to dynamic businesses in the TMT and Consumer sectors, in its acquisition of a majority stake in atHome Group (“atHome” or the “Company”). Oakley Capital (“Oakley”) will retain a minority stake in the Company.

atHome is a leading online classifieds platform in Luxembourg, with the number one position in its core property classifieds market, as well as a growing presence across the automotive and mortgage broking verticals.

Vivian Ngan, Director at EQT Partners’ Credit team, Investment Advisor to EQT Credit, commented: “We were particularly attracted by atHome’s strong competitive position and impressive track record of growth achieved by its first-rate management team. We would like to thank our sector experts who, as senior executives in the classifieds sector, provided key support and insight to the deal team throughout the due diligence process.”

Andrew Cleland-Bogle, Partner at EQT Partners’ Credit team, Investment Advisor to EQT Credit, added: “atHome is a well-established player with strong brand awareness in the Luxembourg classifieds market. This transaction represents another example of the Credit platform’s ability to provide long-term capital as a committed partner to sponsors and management teams as they continue to grow their businesses. The Credit platform is delighted to be backing Mayfair, Oakley and the management team on this deal and look forward to supporting them in their continued development of the Company.”

Contact
Andrew Cleland-Bogle, Partner at EQT Partners, +44 20 7430 5510
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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

About EQT Credit
EQT Credit invests through three complementary strategies: Senior Debt, Direct Lending, and Special Situations. Since inception, EQT Credit has raised over EUR 7 billion of capital and invested in over 160 companies. EQT Credit’s Direct Lending strategy seeks to provide flexible, long-term debt solutions to support European businesses, across a wide range of sectors. These businesses include privately-owned companies seeking growth capital as well as those that are the subject of private equity-led acquisitions or refinancings.

More info: www.eqtgroup.com/business-segments/credit/strategies/

About Mayfair Equity Partners
Mayfair Equity Partners is a buyout and growth capital investor providing capital to dynamic businesses in the TMT and Consumer sectors. Its primary focus is on building strong partnerships with exceptional management teams. Mayfair is an investor in OVO Energy, a high-growth tech-enabled challenger brand in the energy space, YO!, a multi-brand multi-channel sushi platform with operations across the UK, Canada and the US, SuperAwesome, a global high-growth digital marketing business whose technology platform enables brands and agencies to deliver kid-safe digital advertising to under-thirteen audiences and Pixomondo, the VFX house behind the Emmy-winning HBO series Game of Thrones and the Oscar-winning 2011 film Hugo, as well as seven other promising growth businesses.

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Bain & Company, along with CVC, finalise terms of investment in EcoVadis

New collaboration enables further integration of sustainability, fair labor practices and ethics into enterprise supply chains and business commerce

Bain & Company today announced it has made a minority investment in EcoVadis, the world’s most trusted provider of business sustainability ratings for global supply chains. The collaboration will accelerate and deepen both companies’ offerings for improving the environmental, social and governance (ESG) performance of their collective clients.

Focused on creating “the highest levels of value” for its clients, Bain & Company notes a comprehensive emphasis on economic, social and environmental value in its aims. This indicates a growing acknowledgement across the firm and the global industries it serves —including private equity, consumer products, energy, finance, and technology—that the purpose of business must go beyond the singular focus of maximizing shareholder value.

Bain & Company will integrate EcoVadis’ sustainability ratings into its approaches to corporate strategy, supply chain and procurement. They will also seek to develop a focused approach around specific offerings for financial investors across fund strategy, diligence and post-acquisition.

Bain & Company’s investment, coupled with EcoVadis’ recently secured c.$200m investment from CVC Growth Fund II, will enable EcoVadis to scale growth and maximize its impact on  enterprise supply chains, embedding sustainability into business decision-making and corporate performance.

“Recognizing that social and environmental challenges are growing, timelines for addressing them are contracting, and companies are moving quickly to adapt, Bain & Company is committed to our mission of creating value – economic, social, and environmental – for our clients,” said Jenny Davis-Peccoud, co-head of Bain & Company’s global Sustainability & Corporate Responsibility Practice.

Practice co-leader Jean Charles Van den Branden, commented, “Joining forces with EcoVadis, which has a strong presence and reputation, as well as access in the ESG space, directly supports our strategy and enables us to create a highly differentiated offering across our various practice areas.”

“Bain & Company’s investment represents another substantial milestone for EcoVadis. The investment is a strong testament to the value and business-critical role that sustainability plays in today’s market,” said Pierre-Francois Thaler, co-CEO and co-founder of EcoVadis. “We continue to see executives from all over the world share bold plans for sustainability and ESG transformation. Collaborating with Bain & Company and CVC equips us to reach, enable and impact more organizations and communities globally.”

“Environmental, social and governance issues are critical to business success, economic growth and societal improvement, and we are looking forward to working closely with two partners who rightly place these factors at the core of their business strategies,” said Aaron Dupuis, partner, CVC Growth Partners. “This collaboration with Bain & Company coupled with our recent investment is a real game changer for EcoVadis, and we are excited to back this new partnership with the full weight of the CVC network.”

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Shippeo raises €20 million to provide real-time visibility into the global supply chain

Ngp Logo

Shippeo, the leading supply chain visibility provider in Europe, announces the closing of a €20 million Series B round co-lead by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures and Partech.

Shippeo provides predictive and real-time visibility into goods delivery. The AI-based platform aggregates data from hundreds of sources in real-time to calculate the estimated time of delivery arrival with 98% accuracy. Since its creation in 2014, Shippeo has successfully scaled its operations and is now servicing more than 50 large customers, such as Schneider Electric, Carrefour, Eckes-Granini and Leroy Merlin, across 40 countries. The team has grown tenfold and Shippeo now employs 80 people in seven different offices across Europe.

Over the last year, Shippeo has increased its turnover by 300%, positioning itself as one of the fastest-growing start-ups in Europe.

The Series B round of €20 million in new equity is co-lead by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures. Partech, who participated in the Series A round, also took part in this new funding, reaffirming its trust in Shippeo and its long-term support to the management team

Pierre Khoury – CEO and Lucien Besse – COO of Shippeo, said:

“Welcoming top-tier investors is a great source of pride for Shippeo. Their international reach and strong experience in the mobility sector will be a major asset when implementing our ambitious strategy to become the global leader of a $6 billion market. By revolutionizing supply chain visibility, Shippeo aims to unlock value for shippers and carriers, and in the long run, reinvent freight transport.”

Bo Ilsoe, Partner of NGP Capital, stated: “Working with great entrepreneurs is our core mission at NGP Capital and we are honoured to join Pierre, Lucien and the talented Shippeo team in their continued journey. The supply chain industry is ripe for increased digitization and we look forward to adding-value to the company through our global model and network.”

Remy de Tonnac, Partner at ETF Partners, said: “Shippeo created an outstanding platform to help Shippers embrace the efficiency of « Industry 4.0 » with superb customer experience. Going forward, Shippeo’s platform will also help the transportation industry to have much better visibility on its environmental impact and thus will drive significant improvements here for the benefit of all stakeholders.”

Shippeo will use the Series B funding:

  • To further strengthen its market-leading position in Europe by multiplying the customer base times five while maintaining very high customer satisfaction,
  • To expand the team by 150 new recruits in data science, IT, sales and operations,
  • To triple its R&D investment in AI and automatization to achieve increased operational excellence and increased customer visibility into the supply chain.

The supply chain industry remains fragmented and underserved from a technology standpoint. With more than 600.000 road freight companies in Europe alone, digitization offers a tremendous opportunity for industry disruption and Shippeo is leading the way in decreasing fragmentation and increasing real-time visibility into freight delivery.

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Nordstjernan divests its holding in PriceRunner

Nordstjernan

Nordstjernan has signed an agreement to divest its holding in PriceRunner, a company that provides a leading digital consumer service for price comparisons and product information from both online shops and brick-and-mortar stores, to the eEquity investment fund and Nicklas Storåkers.

PriceRunner was founded in 1999, and Nordstjernan has been the owner since 2016 with 35 percent of the shares in the company. PriceRunner has approximately 130 employees with operations and sites in Sweden, Denmark and the UK.

“Nordstjernan has been an owner of PriceRunner alongside Nicklas Storåkers and Karl‑Johan Persson. Together with the company’s management, we created an independent and competitive comparison service. The company is now entering a new stage of development, and I would like to extend my deepest thanks to management and employees for their efforts. I am pleased that an experienced investor like eEquity will be a new owner of PriceRunner”, says Peter Hofvenstam, President and CEO of Nordstjernan.

The parties agree not to disclose the terms of the transaction.

Peter Hofvenstam
President and CEO
Nordstjernan AB

Questions will be answered by:

Peter Hofvenstam, CEO, Nordstjernan
E-mail: peter.hofvenstam@nordstjernan.se

Stefan Stern, Head of Communications, Nordstjernan
Telephone: +46 70 636 74 17
E-mail: stefan.stern@nordstjernan.se

Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term value growth. More information about Nordstjernan can be found on www.nordstjernan.se.

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