Tag Archives: Information technology

Altamir and Apax Partners sell their Altran shares to Capgemini to help create an undisputed leader of digital transformation for businesses

Altamir

Paris, 25 June 2019 – In connection with Capgemini group’s proposed friendly takeover bid for Altran’s shares, Altamir and Apax Partners have entered into an agreement with the Capgemini group to sell their entire interest in the share capital of Altran for €14.00[1] per share.

Altamir and Apax Partners became Altran shareholders in August 2008. Since then, they have supported the group in its development strategy, which has primarily consisted in:

·        establishing a very significant position in the US market,

·        creating its GlobalShore business employing more than 17,500 people, including about 10,000 in India, and

·        moving toward the management of large, outsourced R&D projects for prominent customers.

In March 2018, Altamir and Apax Partners supported Altran through its transformational acquisition of the US company  Aricent for $2 billion, thereby creating the undisputed global leader in engineering services and outsourced R&D. Altamir and Apax Partners participated in the €750 million capital increase, pro-rata to their interest in Altran.

Employing approximately 47,000 people in more than 30 countries, Altran generated close to €3 billion in revenues in 2018 (versus €1.65 billion in 2007 at the time of the investment by Apax Partners and Altamir), of which approximately two-thirds were from abroad. Its operating margin nearly doubled in 11 years, reaching 12.1% in 2018.

“I am proud that Altamir has supported the transformation of Altran, which in ten years has become the undisputed leader of innovation and advanced engineering consulting. I firmly believe that Capgemini is the ideal partner to leverage the skill of Altran’s teams”  said Maurice Tchenio, Chairman of Altamir Gérance.

“It brought me great pleasure to support Altran’s executives and teams in the company’s international growth and the evolution of its business model. The tie-up with Capgemini will create a global player with a unique combination of expertise, enabling Altran to consolidate its leadership in the market of engineering services and R&D” said Gilles Rigal, Partner at Apax Partners.

 

About Altamir

Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995 and with an investment portfolio of nearly €1bn. Its objective is to provide shareholders with long term capital appreciation and regular dividends by investing in a diversified portfolio of private equity investments.

Altamir’s investment policy is to invest via and with the funds managed or advised by Apax Partners SAS and Apax Partners LLP, two leading private equity firms that take majority or lead positions in buyouts and growth capital transactions and seek ambitious value creation objectives.

In this way, Altamir provides access to a diversified portfolio of fast-growing companies across Apax’s sectors of specialisation (TMT, Consumer, Healthcare, Services) and in complementary market segments (mid-sized companies in continental European countries and larger companies across Europe, North America and key emerging markets).

Altamir derives certain tax benefits from its status as an SCR (“Société de Capital Risque”). As such, Altamir is exempt from corporate tax and the company’s investors may benefit from tax exemptions, subject to specific holding-period and dividend-reinvestment conditions.

For more information: www.altamir.fr

 

Contact

Claire Peyssard Moses

Tel.: +33 1 53 65 01 74

E-mail: investors@altamir.fr

 

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Industrifonden sells shares in Footway

Industriefonden

Industrifonden sells 4,3% of its shares in Footway, the leading e-commerce platform for shoes in the Nordics. The transaction generates a return of six times the initial investment for Industrifonden. 

Industrifonden made its initial investment in Footway in 2011, when the company had SEK 3 million in revenue. In 2018, Footway had a revenue of SEK 760 million and a positive EBITDA. In the first quarter of 2019, the company had seen a 78% growth compared to the same period last year.

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EG acquires Lindbak Retail Systems AS

Franciso Partners

News Item – June 03 2019

EG has acquired Norwegian software company Lindbak Retail Systems AS. The acquisition is the first under the ownership of Francisco Partners and establishes EG as one of the leaders in retail software in Scandinavia.

“Lindbak Retail Systems is one of the largest acquisitions in EG’s entire history. It is evidence we are entering a new era together with Francisco Partners,” says Mikkel Bardram, CEO at EG, adding “this is an excellent acquisition, as there is a strong fit between Lindbak Retail Systems and EG. We share the same focus on customer satisfaction and developing market leading software. Lindbak Retail Systems brings indepth industry knowledge within the retail trade that is essential for success. We are looking forward to learn from our new colleagues and to share our own expertise with them”.

Lindbak Retail Systems (LRS) will continue to operate as a strong and independent business area within EG, and its focus will remain on serving large retail chains headquartered in Norway, Sweden and Denmark.

“The acquisition of Lindbak Retail Systems shows our ambition to accelerate EG’s growth through an aggressive acquisition strategy, focused on vertical software companies in Scandinavia. This is only the beginning,” says Petri Oksanen, partner at Francisco Partners.

Both employees and the current management of LRS will transfer over to EG where the company’s CEO Erik Tomren will join EG’s group management with responsibility for the newly formed retail division:

“It was very important to find an experienced and professional owner such as EG, that will invest in the continued development of Lindbak Retail Systems and take the company to the next level. EG has several important customers and strong industry solutions in the retail segment, so I look forward to delivering existing as well as new customers increased value and a broader range of market leading solutions,” says Erik Tomren, CEO, Lindbak Retail Systems.

EG acquired Lindbak Retail Systems on 3 June 2019. All agreements with customers, suppliers and collaborative partners will continue as before. The purchase price was not disclosed.

About EG

EG is a Scandinavian software company with more than 1,000 employees working from 15 competency 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 eg.dk.

About Lindbak Retail Systems

Lindbak Retail Systems provides business-critical IT solutions to ambitious retail chains within the areas of grocery, supermarkets, convenience and specialist trade. The company’s 130 employees serve more than 4,000 stores daily in Northern Europe from offices in Oslo, Bergen, Trondheim and Gothenburg. Read more at lindbakretail.no.

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Fortino Capital Partners invests in Declaree, the innovative Dutch challenger in expense management

Fortino Capital

Fortino Capital Partners expands its portfolio of Travel & Expense management companies with its investment in Declaree, the innovative Dutch challenger.  Besides the acquisition of MobileXpense in Belgium and eBuilder Travel in Sweden, it is the third investment of Fortino Capital in the market of expense management.

Declaree was founded in 2014 by Bas Janssen, Bart Jochems and Jasper Spoor with the ambition of simplifying and facilitating paper-based and cumbersome expense management processes. Since then, Declaree has 20 employees and 750 clients mainly located in the Netherlands and Germany. In the Netherlands and Belgium, Declaree serves large customers such as KLM, Hunter Douglas, Schiphol and KPMG, as well as many small and medium-sized companies. For Germany, it is about companies such as Lemonaid, Suitepad and Lufthansa Group Business Services.

Expense management is a challenge for many organisations. Many companies still use inefficient methods for these processes. Thanks to Declaree’s mobile and web application, they are capable of reducing the time spent on the internal management of expenses by almost 75 per cent, while also getting more grip on the expenses itself by increased transparency.

Fortino Capital Partners started its growth journey in travel & expense management by investing in MobileXpense in Belgium and eBuilder Travel in Sweden. These two players mainly focus on multinational and governmental organisations that need to comply with many different and often complex rules in all countries active in.

Matthias Vandepitte, partner at Fortino Capital, explains: “Declaree offers a genuinely innovative solution which has already served hundreds of companies of all sizes. We are really impressed by what the team of Bas, Bart and Jasper have built over the past years, and we see enormous potential for the future. That is why we are particularly proud of being able to support the internationalisation of Declaree in Europe with our expertise and investment. We look forward working together on our joint growth aspirations.”

Bas Janssen from Declaree concludes: “The past five years, we have heavily invested in developing our product and scaling in the Netherlands and Germany. To realize the next step in our growth we have searched for a strategic investor with knowledge and experience in international expansion. We are convinced to have found the right strategic partner in Fortino Capital.”

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HR Manager and Webcruiter adds Swedish ReachMee to its HR platform

Verdane Capital

Stockholm — HR Manager and Webcruiter, a Verdane-owned group providing cloud-based HR and recruitment systems, is expanding its footprint on the Swedish market through the acquisition of ReachMee, a leading provider of cloud-based recruitment solutions. The acquisition is the group’s latest step on its journey to create a leading HR technology platform in the Nordics.

HR professionals and management teams in companies of all types and sizes are searching for HR technology solutions which make talent identification, recruitment, hiring, onboarding and HR management easier, more efficient and successful. To support hiring organisations in the war for talent, HR Manager and Webcruiter have embarked on an M&A-driven expansion journey to create a leading Nordic HR platform. End customers will benefit from an improved range of complementary HR and recruitment solutions across the markets in which the group operates, and the companies in the group will benefit from technological synergies allowing them to release better products, faster. Verdane’s initial investment in HR Manager and Webcruiter was made in 2018.

“With ReachMee now part of our platform, we are in a stronger position than the competition to ramp up development speed and offer cutting-edge HR solutions thanks to our combined technology stack. Both growing companies and talent across the Nordics stand to benefit,” says Lars Christian Ringdal, CEO of HR Manager/Webcruiter.

Stockholm-based ReachMee has grown from 25 000 to 130 000 users since 2014 and has an industry-leading 97% customer loyalty and revenues growing by 25% annually. In 2014, the company made the successful decision to focus its efforts on developing a best of breed talent acquisition platform from scratch.

“The last five years have seen us grow our client base in the Nordics, averaging an organic recurring revenue growth rate of 25 percent per year. Our now nearly 700 customers, mainly in Sweden, Norway and Finland, will benefit from this merger by us being able to provide a wider, complementary pool of products. By doing so, ReachMee will deepen its service as a trusted partner within HR tech – now to organizations who want a 360-view of everything they need in HR and recruitment. It’s a great step forward for organizations looking to be attractive employers whilst strengthening their competitive edge,” says Nils Bergman, CEO of ReachMee.

With over 2 000 customers and combined recurring revenues of NOK 150 million per year, the HR Manager, Webcruiter and ReachMee group is already among the leading suppliers of cloud-based HR solutions in a fragmented and fast-growing Nordic market.

“This is a star collection of HR business talent. We’re pleased to welcome ReachMee into Verdane’s family of software portfolio companies and look forward to supporting the group in accelerating growth”, says Johnny Rindahl, Partner at Verdane.

In the transaction, holding company HR Nordic acquires all the shares in ReachMee, including the shares of majority owner FH Kapital, which will reinvest and be part of the continued HR platform journey. The parties have agreed not to publish the terms of the deal.

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For further information, please contact:

Lars Christian Ringdal, CEO, HR Manager/Webcruiter, +47 922 57 731, lars.ringdal@hr-manager.net

Nils Bergman, CEO, ReachMee, +46 70 495 0066, nils.bergman@reachmee.com

Jonathan Bui, Communications Manager, Verdane, +46 762 72 8100, jonathan.bui@verdane.com

David Frykman, FH Kapital, +46 70 819 2222, david.frykman@gmail.com

 

About Verdane

Verdane works to be the preferred growth partner to technology enabled businesses in Northern Europe. Verdane funds provide flexible growth capital to fast-growing software, consumer internet, energy or high-technology industry businesses, through both majority and minority investments in individual companies and portfolios. Verdane funds act as ambitious, active and long-term owners, helping management teams and companies accelerate and sustain growth by leveraging the Verdane advisory team’s capabilities and proven track record in driving business value for companies whose growth is driven by, or connected to, technological development. Verdane funds’ current portfolio includes Conexus, EasyPark, Freespee, HR Manager/Webcruiter, inRiver and Lingit. Verdane has 39 employees working out of offices in Copenhagen, Helsinki, London, Oslo and Stockholm. For more information, please visit www.verdane.com
About ReachMee

ReachMee offers a powerful, market-leading solution for discovering, recruiting and hiring talent and is used by smart and adept organizations who need to recruit more successfully by increasing the chances of finding the right person for the right position. With the right technology, deep understanding of recruitment processes as well as a strong devotion to solve customers’ challenges, ReachMee has taken a strong and leading position in the Nordic market. Our solutions are used by more than 700 large and small customers in both the private and public sectors, including NCC, Ahlsell, and McDonalds. ReachMee has offices both in Oslo, Helsinki, Kiev and with headquarters in Stockholm. For more information, please visit www.reachmee.com

 

About HR Manager

HR Manager specializes in HR and recruitment processes. The solutions we offer generate added value for any business, independent of industry or size. Our user-friendly cloud services Talent Recruiter, Talent Onboarding and Talent Manager cover all aspects of HR and allow them to be managed through one integrated solution. The systems are adapted to both private and public sector regulations, including GDPR. More than 900 clients across the Nordics use our solutions. We are over 50 employees and have offices in Oslo, Copenhagen and Stockholm. For more information, please visit www.hr-manager.net

 

About Webcruiter

Webcruiter delivers a recruitment solution that ensures tailored and professional recruitment processes for private, state and municipal sector businesses. Webcruiter is used today by 400 clients with users in over 120 countries and has established itself as a thought leader in the field through www.rekryteringsbloggen.se. Webcruiter has 30 employees and offices in Oslo and Stockholm. For more information, please visit www.webcruiter.com  

 

About FH Kapital

FH Kapital is an investor specialised in majority positions of well-driven companies facing a generational change or other ownership changes. FH Kapital is an active and responsible owner, and owns majority positions in companies such as MCD, Fasty and Microdeb. FH Kapital is owned by David Frykman and Pål Hodann.

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EQT acquires Acumatica – a US-based ‘cloud-native’ ERP software vendor – in connection with its existing IFS investment

eqt

  • EQT acquires Acumatica, a fast-growing US-based provider of modern, flexible, cloud-based ERP software systems
  • Acumatica is uniquely positioned to capitalize on the opportunity created from the ERP market’s shift to cloud-based software, thanks to its customer-centric product proposition and a highly-scalable indirect distribution model
  • Acumatica to become sister company of existing EQT VII portfolio company IFS, the leading ERP software vendor
  • EQT will support Acumatica’s continued growth journey by leveraging its TMT and software expertise, global platform and cross-pollination opportunities with IFS

The EQT VII fund (“EQT” or “EQT VII”) has entered into agreements to acquire Acumatica (or “the Company”) from its founders, management and other minority investors. Existing shareholders and management will re-invest significantly into the Company, while EQT will have majority ownership.

Headquartered in Bellevue, Washington, US, Acumatica is a fast-growing software as a service (“SaaS”) company, serving customers with true cloud Enterprise Resource Planning (“ERP”) solutions. Through its ERP platform, Acumatica helps customers streamline and automate processes, manage and control inventory in real-time and increase productivity. The Company’s software is delivered via the cloud and is accessible from any location, on any device.

The acquisition was made through the same EQT VII holding company, which currently owns leading ERP software vendor, IFS. Going forward, Acumatica and IFS will operate as sister companies, serving the market with complementary cloud ERP solutions. Acumatica will focus on small to medium sized businesses while IFS will continue to focus on larger enterprise customers.

The two companies are expected to benefit from cross-pollination of R&D capabilities and a synergistic geographic and end-market footprint. At the same time, Acumatica will continue to operate as an independent company, led by CEO Jon Roskill, with a focus on accelerating its strong growth momentum, customer satisfaction and channel-only go-to-market strategy.

Johannes Reichel, Partner at EQT Partners and Investment Advisor to EQT VII, commented: “Acumatica perfectly fits EQT’s thematic investment approach and will strongly benefit from EQT’s long experience in developing companies in the software sector. The transaction also forges a strategic relationship between Acumatica and IFS – two of the fastest-growing ERP vendors globally. These two companies are best-in-class challengers and together they are well-positioned to serve the entire ERP market, from small and medium, all the way to large enterprises, on a global scale. EQT is very excited to back Jon and the greater leadership team at Acumatica.”

Jon Roskill, CEO of Acumatica, said: “This move provides exceptional validation of Acumatica’s market execution and growth in the last several years. Greater investment from EQT will unlock new opportunities for us to better serve our customers and secure a stronger future for Acumatica. To compound this potential, is the access to, and collaboration with, ERP industry leader and fellow EQT portfolio company, IFS.”

Darren Roos, CEO of IFS, said: “I am excited about the enormous potential the IFS and Acumatica businesses have being part of the same portfolio. Our ability to add value to each other’s customers and partners will accelerate value creation across both companies. I am a huge admirer of what Jon has achieved and look forward to being part of the next chapter of Acumatica’s story.”

Serguei Beloussov, CEO of Acronis, Founder and Chairman of Acumatica said: “Acumatica has built one of the leading cloud platforms in the world since we founded the business in 2006, testament to the founding team’s expertise in building cloud platforms, as also reflected by the success of Acronis‘ Cyber Protection platform. EQT’s investment will allow Acumatica to focus on achieving its goal to become the global market leader in the cloud ERP market and continue to accelerate its xRP platform development to better support to its current and future ISVs and OEMs.”

Financial details of the transaction were not disclosed. The proposed transaction is subject to customary regulatory approvals.

Jefferies acted as financial advisor and Kirkland and Ellis LLP acted as legal advisors to EQT VII. GCA acted as financial advisor to Acumatica and Willkie Farr & Gallagher as legal counsel.

Contacts
Johannes Reichel, Partner at EQT Partners and Investment Advisor to EQT VII, +49 89 25 54 990; EQT Press office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. 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.eqtpartners.com

About Acumatica
Acumatica Cloud ERP provides the best business management solution for transforming your company to thrive in the new digital economy. Built on a future-proof platform with open architecture for rapid integrations, scalability, and ease of use, Acumatica delivers unparalleled value to more than 5,000 small and midmarket organizations through our team of 275 worldwide employees and 300 channel partners.

More info: www.acumatica.com

About IFS
IFS™ develops and delivers enterprise software for customers around the world who manufacture and distribute goods, maintain assets, and manage service-focused operations. The industry expertise of our people and solutions, together with commitment to our customers, has made us a recognized leader and the most recommended supplier in our sector. Our team of 3,500 employees supports more than 10,000 customers worldwide from a network of local offices and through our growing ecosystem of partners.

More info: www.IFSworld.com

Follow us on Twitter: @ifsworld

 

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Fortino Capital Partners invests in Declaree, the innovative Dutch challenger in expense management

Fortino Capital

Fortino Capital Partners expands its portfolio of Travel & Expense management companies with its investment in Declaree, the innovative Dutch challenger.  Besides the acquisition of MobileXpense in Belgium and eBuilder Travel in Sweden, it is the third investment of Fortino Capital in the market of expense management.

Declaree was founded in 2014 by Bas Janssen, Bart Jochems and Jasper Spoor with the ambition of simplifying and facilitating paper-based and cumbersome expense management processes. Since then, Declaree has 20 employees and 750 clients mainly located in the Netherlands and Germany. In the Netherlands and Belgium, Declaree serves large customers such as KLM, Hunter Douglas, Schiphol and KPMG, as well as many small and medium-sized companies. For Germany, it is about companies such as Lemonaid, Suitepad and Lufthansa Group Business Services.
Expense management is a challenge for many organisations. Many companies still use inefficient methods for these processes. Thanks to Declaree’s mobile and web application, they are capable of reducing the time spent on the internal management of expenses by almost 75 per cent, while also getting more grip on the expenses itself by increased transparency.
Fortino Capital Partners started its growth journey in travel & expense management by investing in MobileXpense in Belgium and eBuilder Travel in Sweden. These two players mainly focus on multinational and governmental organisations that need to comply with many different and often complex rules in all countries active in.
Matthias Vandepitte, partner at Fortino Capital, explains: “Declaree offers a genuinely innovative solution which has already served hundreds of companies of all sizes. We are really impressed by what the team of Bas, Bart and Jasper have built over the past years, and we see enormous potential for the future. That is why we are particularly proud of being able to support the internationalisation of Declaree in Europe with our expertise and investment. We look forward working together on our joint growth aspirations.”
Bas Janssen from Declaree concludes: “The past five years, we have heavily invested in developing our product and scaling in the Netherlands and Germany. To realize the next step in our growth we have searched for a strategic investor with knowledge and experience in international expansion. We are convinced to have found the right strategic partner in Fortino Capital.”

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EVRY and Tieto joining forces to create a leading Nordic digital services company

Apax

18 June 2019

Fornebu/ Espoo, 18 June 2019: EVRY and Tieto have today announced a merger agreement to create the most competitive digital services and software company in the Nordics.

With combined revenue of close to EUR 3 billion and 24 000 professionals, the combined company will be well-positioned to create digital advantage for Nordic enterprises and society. The transaction will be highly complementary from a geographical, offering and customer perspective. The combined company will be named TietoEVRY and it will serve thousands of enterprise and public sector customers in more than 90 countries.

Tieto and EVRY have rich and complementary capabilities in areas of digital consulting, industry software, advanced cloud and infrastructure services.  The combination brings especially strong value proposition with advanced Fintech solutions for the global Financial Services industry. Furthermore, the combined company will have comprehensive solutions for healthcare and welfare as well as the public sector in the Nordics, well positioned for the extensive national reforms ahead.

With more than 5 000 digital consultants with deep customer knowledge in the Nordics and around 10 000 globally, the new company is set to accelerate its customers digital transformation. The new company will be a leading employer in digital services and software in the Nordics.

A strong presence in Norway, Sweden and Finland together with global delivery centers, provide a good foundation for future growth; Fintech solutions, industry specific software and product development services form the spearheads for further international expansion. With the combined capacity to invest in new services and capabilities, the combination is well positioned to drive innovation.

“This combination announced today will create a company well positioned to be a leading provider of digital transformation across the Nordics for the benefit of our customers, employees, shareholders and the society. With continued investments in our people, latest technologies such as robotics, cloud and artificial intelligence, the combination will be a truly competitive digital partner for our customers. We have a strong foundation based on Nordic values with utmost respect for every individual and focus on life-long learning. I believe we will create exciting opportunities for professional and personal growth for employees in both companies – and a strong value proposition for our customers. I foresee a very exciting journey ahead,” says Kimmo Alkio, President and CEO of Tieto.

“EVRY has during the last years taken important steps and become a preferred partner for digital transformation to our customers. The two companies, EVRY and Tieto, share a strong Nordic values promoting openness, trust and diversity. I believe that the new company will attract the right competence, customers and partners,” says Per Hove, CEO of EVRY.

Thomas Franzén will be proposed to the shareholder meetings to be the Chairman of the Board of Directors and following the completion of the merger, Kimmo Alkio will be Chief Executive Officer of the combined company. Per Hove will continue in his role as CEO of EVRY until the closing of the transaction and work closely with Tieto CEO Kimmo Alkio in the integration of the companies.

The new company will have its headquarters in Espoo, Finland.  The corporate and management functions will be distributed across Oslo, Stockholm and Espoo.

Following completion of the merger the shares in the combined company will continue to be listed on the official list of Nasdaq Helsinki and Nasdaq Stockholm. In addition, an application for listing on Oslo Stock Exchange will be made.

The transaction is subject to approval by the shareholders. It is expected that the merger will be completed during the fourth quarter of 2019, or during the first quarter of 2020 at the latest.

Read also the Stock Exchange Release: https://www.tieto.com/globalassets/files/investor-relations/2019/tietoevry-stock-exchange-release.pdf

Further information

EVRY

Investors:
Henrik Schibler, CFO, tel +47 4001 0303, henrik.schibler (at) evry.com

Media:
Unni Strømstad, EVP Communications & Marketing, tel +47 9775 3453, unni.stromstad@evry.com,

Tieto

Investors:
Tomi Hyryläinen, CFO, tel. +358 50 555 0363, tomi.hyrylainen (at) tieto.com

Media:
Kia Haring, Head of Global Communications and Corporate Responsibility, +358 40 765 3700

About EVRY
EVRY is a leading Nordic tech and consulting company. Together with our customers and an ecosystem of the best global digital experts, we shape the future today by applying new technologies to improve end user experiences, and the performance of people, processes and systems.

We are close to our customers and represent a Nordic mindset on responsibility, quality and security.

We leverage our Nordicness to do business in more than 18 countries. EVRY is listed on Oslo Stock Exchange. Our 8 800 employees are passionate about creating digital advantage and shaping the future – today.

About Tieto
Tieto aims to capture the significant opportunities of the data-driven world and turn them into lifelong value for people, business and society. We aim to be customers’ first choice for business renewal by combining our software and services capabilities with a strong drive for co-innovation and ecosystems.

Headquartered in Finland, Tieto has around 15 000 experts in close to 20 countries. Tieto’s turnover is approximately EUR 1.6 billion and shares listed on NASDAQ in Helsinki and Stockholm. www.tieto.com

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Axcel invests in Phase One

Axcel

Axcel has agreed to acquire a majority stake in Phase One, a leading technology business specialising in high-end digital imaging software and equipment. The existing management team will reinvest alongside Axcel and continue to own a significant stake in the company.

In recent years, Phase One has been successfully transformed into a market-leading imaging technology company through its two divisions:

  • Software Imaging Systems (SIS), which provides market-leading raw image-processing software to photographers and enterprises under the Capture One brand; and
  • Image Capture Solutions (ICS), which supplies ultra-high-end, medium-format camera systems for industrial applications and specialty photography.

Today, the majority of growth and profitability comes from sales of software solutions, where the company has managed to grow by ~40% p.a. in revenue in the last four years and also expects significant growth in 2019. The company is headquartered in Copenhagen, Denmark, and has operations in Germany, Hong Kong, Israel, Japan and the US.

“We’re very happy that we’ve been able to find a new owner in Axcel, which has significant experience of developing technology businesses,” says CEO Henrik Håkonsson. “We see a significant opportunity to grow and further strengthen our position in the coming years. I’m convinced that, together with Axcel, we can take Phase One to the next level.”

Christian Bamberger Bro, who is responsible for the investment at Axcel, is pleased with the transaction:

“Phase One has built its position on deep technical expertise and an innovative product portfolio, and we’re impressed by what the management team has achieved over the last few years. We look forward to applying our experience of growing software businesses and to partnering with the management in their pursuit of further growth.”

Asbjørn Hyldgaard, a partner at Axcel, adds:

”Phase One is an exciting investment opportunity for Axcel where we can utilise our track record within a number of sectors, namely technology, industrial and consumer. There are many ways in which we can create value in Phase One in the years to come.”

Phase One is being acquired from Silverfleet Capital and its management. The parties have agreed not to disclose any financial terms. The transaction is subject to customary regulatory approvals.

Phase One is the eighth investment in Axcel V.

Axcel has been advised by Deloitte Corporate Finance, Deloitte Transaction Services, Bain & Company, Moalem Weitemeyer Bendtsen and Ropes & Gray.

 

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Nordic Capital acquires ArisGlobal, a leading global provider of life sciences software

Nordic Capital

  • As a leading healthcare and technology investor, Nordic Capital will further support and accelerate ArisGlobal’s growth

Nordic Capital Fund IX today announced an agreement to acquire US-headquartered ArisGlobal, a leading global provider of innovative SaaS software solutions, which are transforming the way the most successful life sciences companies handle drug safety, clinical development, regulatory compliance, and medical affairs. Drawing on its deep understanding of both the healthcare and technology sectors, Nordic Capital will support ArisGlobal’s continued development. The founders of ArisGlobal will remain as minority shareholders.   

ArisGlobal is a visionary technology company that has successfully developed a next-generation platform that uses advanced cognitive computing and machine learning to automate all core functions of drug safety, regulatory compliance and medical affairs. Currently, more than 200 life sciences companies such as AstraZeneca, NovoNordisk, Merck and Novartis, CROs and government health authorities, as well as 40 of the top 50 global biopharmaceutical companies, rely on ArisGlobal’s solutions. Benefiting from deep expertise, longstanding customer relationships and a 30-year track record, ArisGlobal assists clients in maintaining regulatory compliance, managing and mitigating risk, and improving operational efficiency.

ArisGlobal is headquartered in Miami, FL, USA, with regional offices in Europe, India, Japan and China. It has 1,200 employees globally and c. USD 100 million of annual revenues. In recent years, ArisGlobal has invested in transforming its traditional on-premise offering to a hosted solution sold through a SaaS model.

“This transaction is representative of our rapid growth in the global life sciences industry, which is further proven by the adoption of our LifeSphere platform by the U.S. FDA. We look forward to partnering with Nordic Capital to leverage our common vision, values and combined talents to offer the most innovative technology platform to the life science industry. Nordic Capital has extensive experience in the pharma IT market from previous investments, and a proven track-record building strong teams which can further accelerate ArisGlobal’s growth. Nordic Capital also has a long track-record of partnerships with founding families and is well positioned to support our continued growth over the years to come,” says Deepak Abbhi, Founder and Chairman of the Board of ArisGlobal.

“We are now embarking on a new chapter that will accelerate our ability to achieve our mission. Our unwavering focus on our customers’ needs will continue to be the core of who we are as a company. It drives the development of our LifeSphere platform. It fuels our passion for becoming the premier innovative technology company in the world. We share a closely aligned vision with Nordic Capital for the future of the industry and this partnership gives us immediate access to deep resources and expert guidance that will help us in our journey. I am more excited than ever about the future,” says Sankesh Abbhi, President and CEO of ArisGlobal.

“This investment lies at the heart of Nordic Capital’s investment strategy as a leading healthcare and technology investor. We have followed the pharmacovigilance market closely for several years and know the industry well. ArisGlobal has a top-quality management team and its success is based on its commitment to develop leading and innovative cloud-based software that help organisations maintain regulatory compliance, manage and mitigate risk, and improve operational efficiency. ArisGlobal’s SaaS native software is becoming the preferred choice for life sciences companies because it enables them to quickly implement cost-effective solutions for drug safety reporting, regulatory compliance, and medical affairs,” says Daniel Berglund, Principal at the Advisor to the Nordic Capital Funds.

“The US is a key global market for healthcare companies and offers opportunities that are consistent with Nordic Capital’s investment strategy. ArisGlobal is a company that fits well within the portfolio and is well placed to achieve long term growth driven by favourable sector trends such as continued technological and scientific innovation, serving an attractive innovation driven customer base. We look forward to partnering with ArisGlobal where Nordic Capital can deploy its unique combination of capital and strong operational skills to accelerate growth and support positive transformative change.” says Dr Raj Shah, Partner, Co-Head of Healthcare at the Advisor to the Nordic Capital Funds.

The parties have agreed to not disclose any financial details. The transaction is subject to customary regulatory approvals.

Since inception in 1989, Nordic Capital has made 28 healthcare platform investments across Europe and North America and an additional 14 investments in the Technology & Payments sector, supporting active value creation agendas to build industry winners. Previous investments in the US include ERT, a leading provider of high-quality patient safety and efficacy endpoint data collection solutions for use in clinical drug development, and Orchid Orthopedics Solutions, a leader in the design and manufacture of implants to the global orthopaedic market.

The investment in ArisGlobal coincides with the Advisor to the Nordic Capital Funds expanding into the US, where it will open a permanent office in New York during the Autumnof 2019, building on Nordic Capital’s reputation as a leading investor in global healthcare and already established track record in the US market.

Footnote: “Nordic Capital” or “Nordic Capital Funds” refers to any, or all, Nordic Capital branded or associated funds or investments vehicles and their associated management entities. Nordic Capital is advised by its exclusive advisors, the NC Advisory entities and the Nordic Capital Investment Advisory entities, any or all of which is referred to as the Advisor to the Nordic Capital Funds.

 

Press contacts:

Nordic Capital
Katarina Janerud, Communications Manager,
The Advisor to the Nordic Capital Funds
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

 

ArisGlobal

Sam Stein, VP, Marketing & Commercial Strategy
Tel: +1-786-814-0365
e-mail: sstein@arisglobal.com


About ArisGlobal

ArisGlobal is a visionary technology company that’s transforming the way today’s most successful life sciences companies develop breakthroughs and bring new products to market. ArisGlobal’s LifeSphere® drug development platform integrates cognitive computing technologies to automate the core functions of the product lifecycle. Designed with deep expertise and a long-term perspective that spans more than 30 years, the LifeSphere platform delivers actionable insights, boosts efficiency, ensures compliance, and lowers total cost of ownership through a multi-tenant SaaS model. ArisGlobal is headquartered in Miami, Florida, USA, with regional offices in Europe, India, Japan and China.  For more information about ArisGlobal, please visit www.arisglobal.com

 

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services and in addition, Industrial Goods & Services and Consumer. Key regions are the Nordics, Northern Europe and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 14 billion in over 100 investments. The most recent fund is Nordic Capital Fund IX with EUR 4.3 billion in committed capital, principally provided by international institutional investors such as pension funds. The Nordic Capital Funds and vehicles are based in Jersey. They are advised by several advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany, the UK and the US, any or all of which are referred to as the Advisor to the Nordic Capital Funds. For further information about Nordic Capital, please visit www.nordiccapital.com

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