KKR to Acquire Probe CX

KKR
September 30, 2021

MELBOURNE, Australia–(BUSINESS WIRE)– Quadrant Private Equity, Five V Capital, Rodney Kagan and other shareholders of Probe CX (“Probe” or the “Company”) today announced they have entered into an agreement under which KKR will acquire a majority stake in Probe alongside existing management. The investment will be used to further fuel Probe’s robust growth and strengthen its digital capabilities to enhance its service offering to customers.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210930006031/en/

Probe is a leading provider of customer experience (“CX”) and business process outsourcing (“BPO”) solutions based in Australia. Probe was founded by Co-chairman Rodney Kagan in 1979 and is now the largest provider of outsourced CX and BPO services in Australia and New Zealand, with more than 600 clients and over 15,000 staff located in its 33 offices across the globe.

Andrew Hume, CEO of Probe, said: “Customer experience is truly at the heart of our business. Through our intelligent, tailored solutions, Probe enables companies to consistently deliver positive and enriching experiences to their customers. With this mission in mind, we are really excited to welcome KKR as a shareholder and value-added strategic partner, as their experience in transforming CX and BPO companies globally will be invaluable in our next phase of growth.”

Gareth Woodbridge, Managing Director at KKR, said: “We are excited to work closely with Andrew and his team to expand Probe CX’s leading market position. We look forward to leveraging KKR’s industry and operational expertise to help accelerate Probe CX’s growth plans and to scale its digital services capabilities and footprint for the benefit of its customers.”

Rodney Kagan, Founder of Probe, said: “It is with much pride and joy that after 43 years I can see Probe continue as the leader in the customer experience and outsourcing industry. Probe’s success has always been to surround itself with the most brilliant, committed, and professional team. I am so passionate for Probe’s future and feel very excited to see KKR help take the Company to the next level on its global journey.”

Jonathon Pearce, Managing Partner of Quadrant Private Equity, said: “Probe is a fantastic business led by an exceptional team which has been at the forefront of digital innovation. Over the past 18 months Probe has continued to ensure customers and consumers received the highest quality support despite the external challenges. Now, with KKR’s global reach and capabilities, we believe the business will continue to grow and enhance its service offerings for customers in the years ahead.”

KKR is making this investment from its Asian Fund IV. The firm’s investment in Probe CX builds on its long history of investing in Australia. KKR also has experience in successfully growing businesses in the CX industry globally, including its prior investment in Webhelp – a leading provider of CX and BPO solutions throughout Europe.

The transaction is expected to be completed by the end of calendar year 2021, subject to regulatory approvals and other customary closing conditions. Additional details of the transaction were not disclosed.

Probe CX was advised by Morgan Stanley Australia Limited, PwC, and Gilbert + Tobin. KKR was advised by Credit Suisse, King & Wood Mallesons, and EY.

About Probe CX

Probe CX is a globally recognised and award-winning customer experience organisation that designs and deploys solutions to bolster and optimise our client operations. Founded more than 40 years ago and with 15,000-plus staff across five countries, the company delivers exceptional customer experiences through its deep knowledge and capabilities in Contact Centre and Customer Management, Digital Consulting, Intelligent Automation and Analytics. Probe CX also provides Shared Services such as Finance and Accounting services and Help Desk/Support Desks and specialist Knowledge Services such as SEO/SEM marketing, software and web development, health care and loan processing.

About KKR

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

About Quadrant Private Equity

Quadrant Private Equity was first established in 1996 (firstly as Quadrant Capital) and is a leading Sydney-based mid-market private equity firm investing in companies in Australia and New Zealand. Quadrant Private Equity has raised $7 billion and 12 funds since inception. Its latest funds, QPE No. 7 and Quadrant Growth Fund 2, have $1,240 million and $530 million in equity commitments respectively for private equity investment Quadrant has extensive investment experience, having led 83 investments in the past 11 funds (with 60 exits) across a range of sectors including retail, healthcare, media, consumer foods, financial services, eCommerce and other sectors.

About Five V Capital

Five V Capital, a certified B Corporation, is a private equity fund manager based in Sydney with over $900 million of funds under management. Five V’s unique investment approach is underpinned by a philosophy of alignment and is reflected in the Five V Capital team being the largest investors across its funds. This alignment between team, investors, partners and management teams is a key component of Five V’s success. Five V Capital’s current portfolio contains several leading businesses including Penten, APP Corporation, Zenith Investment Partners, Totara Learning, Monson Agencies, Probe CX, Education Perfect and Plenti. For more information about Five V Capital, please visit Five V’s website at https://www.fivevcapital.com and on LinkedIn at https://www.linkedin.com/company/fivevcapital.

Media for Probe CX:
Citadel-MAGNUS
Jack Gordon
+61 478 060 362
jgordon@citadelmagnus.com

Media for KKR:
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

Citadel-MAGNUS (For KKR Australia)
James Strong
+61 448 881 174
JStrong@citadelmagnus.com

Source: KKR

BrightPay and Relate Software join forces to create an accounting & payroll software champion

HG Capital

The combined business will provide an integrated suite of cloud payroll and accounting software tools for accounting bureaus and small to mid-sized businesses in the UK and Ireland.

Dublin, Republic of Ireland, and London, United Kingdom. 28th September 2021. BrightPay, a leading provider of payroll and HR software solutions, and Relate Software (“Relate”), a champion in post-accounting, practice management and bookkeeping software, today announce that they have agreed to join forces to create a software champion serving payroll and accounting bureaus and SMEs across the Republic of Ireland and the United Kingdom.

Paul Byrne, co-founder and CEO of BrightPay, and Ray Rogers, co-founder and CEO of Relate, will remain as significant investors in the combined business and will become co-CEOs. Ross Webster and Richie McMahon, also co-founders of BrightPay and Relate respectively, will also remain as investors and will continue to focus on developing the combined business’ best-in-class product suite.

Hg, a leading software and services investor with over two decades’ experience in growing tax & accounting technology businesses across Europe and North America, will become majority investor in the combined business.

The two complementary businesses will bring together their operational strengths and sector-leading products whilst, with the support of Hg, investing further in new cloud innovations to deliver increased automation, efficiency and value for their customers. The combined group will have over 190 employees and has plans to further grow headcount to continue providing best-in-class services and support for its payroll, accounting and SME customers across both the UK and Ireland.

“We are delighted to be joining with Ray and his team at Relate. They have a proven track record in a sector we know well and, together, we will aim to be a leading solution for many businesses and accountancy firms. We are also delighted that Hg continues to support us. Their deep sector knowledge has proven invaluable to us and will be instrumental in fuelling the further growth of BrightPay/Relate.”

Paul Byrne, founder and CEO of BrightPay

 

“Combining products from both businesses will provide a compelling offering for our customers, with the scope and backing for further innovation and development. I’m looking forward to working with Paul and am also excited to welcome Hg, a leading software investor with a track record of supporting growth in Irish software businesses.”

Ray Rogers, founder and CEO of Relate

 

“Both BrightPay and Relate are very highly regarded businesses and champions in their field. The two companies bring together core operational strengths whilst also unlocking a high-quality, complementary suite of products to a newly combined customer base. We’re proud to bring together this highly accomplished team. This is a sector and region we know deeply and we are excited for what we’ll all be able to achieve together.”

Jonathan Boyes, Hector Guinness and Thomas Martin at Hg

The terms of the transaction are not disclosed.

Media Contacts:

Hg

Tom Eckersley

Tom.Eckersley@hgcapital.com

+44 208 148 5401

About BrightPay

BrightPay is a modern payroll and HR software for accounting and payroll bureaus and SMEs. It takes care of every aspect of running your payroll, from entering employee and payment details to creating payslips and sending RTI submissions. BrightPay has been designed from the ground up to be really simple, yet with no compromise on payroll features. It’s priced fairly with no hidden costs and free support. Our products are in use by over 330,000 employers in the UK and Ireland. As a customer-focused company, we strive to look after each and every one of them. BrightPay is also known as Thesaurus Software, a company with over twenty years of industry experience in the UK and Ireland. For more information visit: https://www.brightpay.ie/

About Relate Software

Relate Software was formed in 2002 from the former management team of Apex Software. We have been building software for the accountancy profession for over 25 years. Relate is dedicated to building innovative and focused products specifically for the accountancy profession. Its offering includes Surf products, a modern, cloud native product suite of bookkeeping, post-accounting, and practice management software to accountancy bureaus and SMEs in the Republic of Ireland. Relate’s product suite also includes compliance, company secretary, personal and corporation tax, and enterprise payroll software. For more information visit: https://www.relate-software.com/

About Hg

Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $37 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 35 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $70 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year. Visit www.hgcapital.com for more information.

The combined business will provide an integrated suite of cloud payroll and accounting software tools for accounting bureaus and small to mid-sized businesses in the UK and Ireland.

Dublin, Republic of Ireland, and London, United Kingdom. 28th September 2021. BrightPay, a leading provider of payroll and HR software solutions, and Relate Software (“Relate”), a champion in post-accounting, practice management and bookkeeping software, today announce that they have agreed to join forces to create a software champion serving payroll and accounting bureaus and SMEs across the Republic of Ireland and the United Kingdom.

Paul Byrne, co-founder and CEO of BrightPay, and Ray Rogers, co-founder and CEO of Relate, will remain as significant investors in the combined business and will become co-CEOs. Ross Webster and Richie McMahon, also co-founders of BrightPay and Relate respectively, will also remain as investors and will continue to focus on developing the combined business’ best-in-class product suite.

Hg, a leading software and services investor with over two decades’ experience in growing tax & accounting technology businesses across Europe and North America, will become majority investor in the combined business.

The two complementary businesses will bring together their operational strengths and sector-leading products whilst, with the support of Hg, investing further in new cloud innovations to deliver increased automation, efficiency and value for their customers. The combined group will have over 190 employees and has plans to further grow headcount to continue providing best-in-class services and support for its payroll, accounting and SME customers across both the UK and Ireland.

“We are delighted to be joining with Ray and his team at Relate. They have a proven track record in a sector we know well and, together, we will aim to be a leading solution for many businesses and accountancy firms. We are also delighted that Hg continues to support us. Their deep sector knowledge has proven invaluable to us and will be instrumental in fuelling the further growth of BrightPay/Relate.”

Paul Byrne, founder and CEO of BrightPay

 

“Combining products from both businesses will provide a compelling offering for our customers, with the scope and backing for further innovation and development. I’m looking forward to working with Paul and am also excited to welcome Hg, a leading software investor with a track record of supporting growth in Irish software businesses.”

Ray Rogers, founder and CEO of Relate

 

“Both BrightPay and Relate are very highly regarded businesses and champions in their field. The two companies bring together core operational strengths whilst also unlocking a high-quality, complementary suite of products to a newly combined customer base. We’re proud to bring together this highly accomplished team. This is a sector and region we know deeply and we are excited for what we’ll all be able to achieve together.”

Jonathan Boyes, Hector Guinness and Thomas Martin at Hg

The terms of the transaction are not disclosed.

Media Contacts:

Hg

Tom Eckersley

Tom.Eckersley@hgcapital.com

+44 208 148 5401

About BrightPay

BrightPay is a modern payroll and HR software for accounting and payroll bureaus and SMEs. It takes care of every aspect of running your payroll, from entering employee and payment details to creating payslips and sending RTI submissions. BrightPay has been designed from the ground up to be really simple, yet with no compromise on payroll features. It’s priced fairly with no hidden costs and free support. Our products are in use by over 330,000 employers in the UK and Ireland. As a customer-focused company, we strive to look after each and every one of them. BrightPay is also known as Thesaurus Software, a company with over twenty years of industry experience in the UK and Ireland. For more information visit: https://www.brightpay.ie/

About Relate Software

Relate Software was formed in 2002 from the former management team of Apex Software. We have been building software for the accountancy profession for over 25 years. Relate is dedicated to building innovative and focused products specifically for the accountancy profession. Its offering includes Surf products, a modern, cloud native product suite of bookkeeping, post-accounting, and practice management software to accountancy bureaus and SMEs in the Republic of Ireland. Relate’s product suite also includes compliance, company secretary, personal and corporation tax, and enterprise payroll software. For more information visit: https://www.relate-software.com/

About Hg

Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $37 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 35 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $70 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year. Visit www.hgcapital.com for more information.

Filoblu opens its capital to private equity fund Gradiente, among the selling investors Ardian Growth

Ardian

27 July 2021 Growth Italy, Venice

Venice, 27 July 2021 – Fifth transaction for the private equity fund “Gradiente II”, managed by Gradiente SGR, which yesterday completed the investment in FiloBlu S.p.A., a business accelerator specialised in the management of online retail activities and digital services mainly for the fashion and consumer goods sectors. Founded in 2009, FiloBlu has been able to establish itself over the years as a reliable partner for those companies which consider the development and strengthening of the e-commerce distribution channel as a must-have and have integrated them within their corporate ecosystem.

With a turnover of more than €56 million in 2020, the company has more than 200 employees, 4 subsidiaries abroad and sales all over the world. The experience accumulated by the company over the years has enabled it to consolidate its know-how in order to be a reliable partner to support companies in the process of digital transformation and accelerated growth, which will be increasingly required in a system where e-commerce as a distribution channel will be essential to gain or maintain a competitive advantage in the market.

Gradiente has acquired a 67% stake in the company; the remaining 33% is held by Christian Nucibella, who founded and led the company throughout its successful history.
The investment of the private equity fund will give additional boost to FiloBlu in its path as a leader in the digital market of e-commerce and services in the digital transformation field.

“The partnership with Ardian has allowed us to better structure the company and enhance its reputation in the reference market. This second round of investment will allow FiloBlu to continue its growth with the same positive trend achieved over the years, seizing new opportunities unexplored to date, continuing to be a reference for innovative solutions, providing astrategic approach to the market in omnichannel key and development of brand equity for its customers” says Christian Nucibella, Founder of FiloBlu.

“In less than three years, FiloBlu has tripled its turnover thanks to its excellent ability to execute and transform its offer, without losing its entrepreneurial DNA of strong growth and profitability. Christian Nucibella’s proximity and agility have made the difference. A fine picture of our support for digital entrepreneurs,” commented Laurent Foata and Bertrand Schapiro of Ardian Growth.

“FiloBlu is an example of an Italian company active in a market characterised by favourable dynamics and very important growth trends that are affecting the daily activities of retail companies. We are delighted to support the company in this new development project aimed at establishing its leadership, also by seizing important opportunities for value creation through add-ons designed to expand the product offering and consolidate the company’s competitive position in its reference market”, Pietro Busnardo and Lorena Lorenzon of Gradiente SGR commented.

Gradiente was assisted by NCTM Studio Legale for contractual and tax advice, by KPMG for accounting advice and by Klecha & Co for business due diligence. The sellers were assisted by the law firm Giovannelli e Associati.

 

ABOUT FILOBLU

Founded by Christian Nucibella and based in Milan, Venice and Naples – FiloBlu is an on & offline strategy consultancy with a strong international vocation, offering tailor-made and complete solutions to companies operating in a variety of sectors (including: fashion, lifestyle, food). Strengthened by a team of over 200 specialised talents and studied as a successful case history by the Financial Times and Deloitte, FiloBlu has a sustainable, global and capillary vision at the service of the client, thanks also to solid agreements with international players. It has received numerous awards: FT 1000 Europe’s Faster Growing Companies in 2017, 2018, 2019, 2020, 2021; 350 Digital Stars 2020 by La Repubblica Affari&Finanza; “Leader of Growth” by Il Sole 24 Ore and Statista in 2019, 2020 and 2021; EMEA Technology Fast 500 (since 2015) and Best Managed Companies by Deloitte from 2018 onwards.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$112bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 750 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Press contacts

FILOBLU

ARDIAN – Headland

VIKTOR TSVETANOV

VTsvetanov@headlandconsultancy.co.uk Tel: +44 207 3435 7469

Categories: News

Tags:

Gilde Equity Management new growth partner of Bruynzeel Storage Systems

Gilde Equity

Bruynzeel Storage Systems, the European market leader in mobile storage systems, has attracted Gilde Equity Management as new majority shareholder. With the new shareholder Bruynzeel will execute their growth strategy in various international markets. The transaction is made for an undisclosed consideration and will be concluded after approval by the antitrust authorities. Bruynzeel booked revenues of around  60 million last year and aims to grow to more than  100 million in 2026, partly as a result of the strong growing international demand for space creating solutions and by adding new innovative solutions to its product offering.

Next growth phase
Bruynzeel, with head office in the Netherlands, provides space creating storage solutions for the storage of a wide variety of objects. It helps organizations worldwide to use space in the most efficient, sustainable and effective way to preserve their valuable collections, documents and inventory. Gilde Equity Management and Bruynzeel both see strong demand for space creating solutions.

Alexander Collot d’Escury, CEO of Bruynzeel Storage Systems comments: “We are proud to be able to join forces with Gilde. They will help us to accelerate our growth and seize the enormous international market opportunities for space saving solutions. Gilde has an impressive track record in creating value with medium sized companies with strong market positions. We are very pleased that with this step, Bruynzeel Storage System is now, after more than 30 years, back in Dutch hands. I would like to thank our former shareholder Altor Equity Partners. They played an important role in establishing our position as European market leader in various segments.”

Pål Stampe, Partner at Altor Equity Partners and Chairman of Bruynzeel added: “We have had a long journey together, and seen a very positive development in recent years. Led by today’s strong management team, we believe that Gilde Equity Management is the right owner for the next growth phase.”

Bas Glas of Gilde Equity Management adds: “We are delighted to support Bruynzeel executing their already successful growth strategy. We are impressed with their strong performance this year. As an investor we recognize the growing importance of space creating storage solutions. We think our partnership represents an attractive opportunity given Bruynzeel’s superior technical knowledge and capacity for innovation. As European market leader in various international storage markets we will support them expanding their product platform and seizing the growth opportunities in Europe and abroad.”

Growth strategy
With the support of Gilde Bruynzeel will accelerate the execution of its international growth strategy by further gaining market share, growing through geographical expansion, by developing new promising segments and be leading in sustainability. Besides autonomous growth, acquisitions in key geographies and segments are part of the growth strategy. In February 2021, Bruynzeel acquired the American distributor RDT Concepts. This partnership gives Bruynzeel more commercial opportunities on the American market, which is the largest market in storage solutions in the world.

Growing number of segments
Bruynzeel Storage Systems is the market leader in the European market for intelligent and space saving storage systems in the archive, library and museum segment and is also growing rapidly in storage solutions in pharma, horticulture, industry, retail, urban farming and hospitals. In addition, many organisations are looking for ways to increase their inventory levels. Due to the current Covid-19 crisis and global supply chain disruptions, deliveries of crucial parts in many industries are delayed, often resulting in costly production losses.

About Gilde Equity Management
Gilde Equity Management (GEM) is an independent private equity firm with €1.5 billion in committed capital. With roots dating back to 1982, GEM is a leading investor in medium-sized companies and has helped many of them to realize international growth.

Examples of GEM investments include: Dunlop, a leading manufacturer of safety boots for industrial applications; Fruityline, a fast-growing producer of freshly squeezed premium fruit and vegetable juices and smoothies; Wasco, a technical wholesaler active in the area of heating, ventilation, air conditioning and sanitary facilities; Actief Interim, one of the biggest independent employment agencies in Benelux and Germany serving the SME sector; Eiffel, a consultancy firm with expertise in Legal, Finance and Process; and Kwantum & Leen Bakker, home-furnishing and decoration retailers in the Benelux..

For more information, go to: https://www.gembenelux.com/

About Bruynzeel Storage Systems
Bruynzeel Storage Systems is the market leader in the European market for intelligent and space saving storage systems in the archive, library and museum segments and is also growing rapidly in storage solutions in pharma, horticulture, industry, retail, urban farming and hospitals. Each Bruynzeel storage solution is designed and based on the client’s specific needs.

Bruynzeel Storage Systems was founded in 1953 as part of the Bruynzeel group that grew into bathrooms, doors, cabinets, kitchens, floors and pencils. Bruynzeel Storage Systems has been privatized since the 1980s. With its ‘best-in-class’ production process, it is able to realize storage systems with high-quality design and quality within the fastest production and delivery times.

In addition to its own offices in Europe and the United States, the company operates through an extensive network of distributors in Africa, the Middle East, Latin America, North America, Australia and Asia. All systems are produced in the factory in Panningen, the Netherlands. The company has more than 200 employees and often collaborates with architects and designers to design custom-made mobile and fixed storage systems for each application.

Categories: News

Tags:

IK Investment Partners enters into exclusive discussions with Fremman Capital to sell VPS

No Comments
ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that it has entered into exclusive discussions with Fremman Capital to sell its stake in VPS (“the Company”) from the IK VII Fund. Financial terms of the intended transaction are not disclosed.

Founded in 1980 and headquartered in Rotterdam, the Netherlands, VPS is a global provider of testing and inspection services, enabling marine, power and renewable clients to optimise their operational performance and comply with environmental regulation. VPS has 270 highly trained employees and operates a global network of offices and laboratories to test fuels and lubricants and provide related advisory services. Leveraging decades of experience, the Company offers bespoke testing services that go well beyond base standards to deliver additional protections to its clients, crews and the environment, while complying with International Maritime Organisation (IMO) regulations and safety requirements.

Under IK’s ownership, VPS has reinforced its leadership position within its core markets and introduced various additional services including Oil Condition Monitoring for shipping operators and renewable energy producers. The Company has also introduced value-add data services by utilising its proprietary database developed for over 40 years. Under IK, VPS has concluded three strategic acquisitions to further diversify its services and strengthen its decarbonisation advisory offering. With its continued focus on sustainability, VPS is well positioned to grow further, capitalising on its ability to assist clients in minimising energy consumption and greenhouse gas emissions and supporting the development of green fuels.

The intended transaction is subject to legal and regulatory approvals.

Malcolm Cooper, Chief Executive Officer of VPS, commented: “We have enjoyed a successful partnership with IK. They have supported us in developing a new sales strategy, investments in additional laboratory equipment and multiple acquisitions, enabling us to better serve our clients, which in turn creates a positive ecological impact.”

Frederik Jacobs, Director at IK Investment Partners and Advisor to the IK VII Fund, said: “Working with Malcolm and his team on the development of such a unique business has been immensely rewarding. We are delighted to have been able to support VPS’ mission to tackle climate change, which has a direct and significant impact on our oceans and air quality.”

Andrew Chetwood, Director at Fremman Capital, added: “VPS has an active role in ensuring that the biggest names in global shipping are safe and environmentally sustainable, with plenty more offerings to add in the coming years. Malcolm has done a fantastic job developing VPS into the business it is today, and we are excited to support his vision for the future.”

For further questions, please contact:

IK Investment Partners
Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
jmcfarlane@maitland.co.uk

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 €14 billion of capital and invested in 150 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

Fremman Capital

Founded in 2020, Fremman is a pan-European, mid-market investment firm with offices in London, Madrid, Munich, and Paris. The firm is an established multi‐geography platform consisting of c.30 professionals that operates as one team. It is supported by a highly experienced Board of Advisors of 16 individuals, that provide unique sector expertise and insights. The firm focuses on investments in four core sectors, including business & tech services, healthcare, consumer goods & distribution, and industrials. Utilising their reputation as trusted advisors, Fremman looks to partner with companies’ management teams to deploy multiple growth strategies, transforming businesses from national to multinational sustainable leaders. For more information, visit www.fremman.com

VPS

VPS delivers testing, inspection and advisory solutions that help its customers achieve measurable improvements to fuel and lubricant management, operational efficiency and regulatory compliance. VPS operates a global network of customer service offices supported round-the-clock by technical experts integrated with specialised and accredited laboratories strategically located in Rotterdam, Singapore, Houston, Fujairah and Manchester. For more information, visit www.vpsveritas.com

Categories: News

Tags:

Ardian acquires a stake in NetCo Group, a European leader in the design and general maintenance of conveyor systems, alongside the founding family Perriez

ik-investment-partners

Paris, June 17, 2021- Ardian, a world-leading private investment house, today announces that it has acquired a stake in NetCo Group, following investment from funds managed by IK Investment Partners (“IK”) and Andera Partners.

Founded in Bordeaux in 1902 by the Perriez family, NetCo has established itself as a European leader in the market for general maintenance and servicing of conveyor systems across a wide range of production sectors – particularly food processing, logistics, minerals and agro-food.

Now led by Samuel and James Perriez, the fourth generation of the Perriez family, the Group has recently expanded through a combination of strong organic growth as well as an ambitious acquisition strategy. This is evidenced by over 20 bolt-ons carried out since 2015, including the acquisition of stakes in ABM TECNA in Belgium in 2017, and in other European companies in the same sector, in Spain and Germany among others.

Today the Group manages a network of over 100 service points across France, Spain, Belgium, Germany and Luxembourg.

With the support of the Ardian Expansion team, NetCo’s management team – led by Samuel and James Perriez – intends to continue the Group’s expansion strategy both in France and internationally, taking advantage of the growing outsourcing of maintenance services in Europe, a market still highly fragmented.

The completion of the transaction remains subject to the approval of the competition authority.

Alexis Lavaillote, Managing Director of Ardian Expansion, said: “We have been impressed by the growth of NetCo and we are looking forward to working with its exceptional management team in a family business. The Group’s excellent reputation and the quality of the management team led by Samuel and James Perriez have enabled it to become a major European player. Supporting NetCo in the next stage of its development through this strategic partnership is a great opportunity.”

Samuel and James Perriez from NetCo added: “Our goal, to accelerate our international development by capitalising on our values, the ones of a family business, means that we see Ardian as a natural fit with whom to join forces. We believe the Expansion team has all the skills and expertise necessary to enable NetCo Group to achieve its growth ambitions.”

Pierre Gallix and Arnaud Bosc, Partners at IK and advisors to the IK Small Cap II Fund, commented: “The transformation of NetCo into a leading player on the European market in just two years demonstrates IK’s value as an investor and partner. We have been delighted to support them in their growth and would like to take this opportunity to congratulate Samuel and James Perriez for their exceptional leadership and wish them and Ardian all the best for this new chapter.”

François-Xavier Mauron, Partner and Arthur Milliard, Investment Director of Andera MidCap added: “We met Samuel and James Perriez in 2016 and we are very proud to have supported them in their growth, which has seen the company more than tripled in size in fewer than four years. Netco has grown into an international player through its organic and external growth that has been accelerated by the support of our fellow partners at IK since 2019.”

For further questions, please contact:

IK Investment Partners
Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
jmcfarlane@maitland.co.uk

Ardian
Headland
Viktor Tsvertanov
Phone: +44 207 3435 7469
VTsvetanov@headlandconsultancy.co.uk

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 €14 billion of capital and invested in 150 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

Ardian

Ardian is a world-leading private investment house with assets of US$112bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 700 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,100 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt. For more information, visit www.ardian.com

NetCo

Founded in 1902, NetCo is the European specialist in the design, global maintenance and servicing of conveyor systems present in all production sectors (minerals, agro-food, logistics and environmental). With a network of over 100 service points, NetCo is recognised for its responsiveness, efficiency and highly technical, tailor-made services. Today, more than 950 employees work in the company’s various activities and sectors. For more information, visit www.groupe-netco.com

Categories: News

Tags:

EQT introduces longer-hold investment strategy – announces first investment in Anticimex

eqt
  • Leading global pest control specialist Anticimex becomes the first investment by EQT’s longer-hold strategy with impact at the core
  • The investment in Anticimex is made alongside long-term investors such as Melker Schörling AB (who will be the second largest shareholder), GIC, AMF, Interogo Holding Long-Term Equity and Alecta
  • Natural next step on EQT’s overall strategic development – EQT’s Private Capital business segment adds longer-hold impact at scale strategy to its palette of investment strategies

Building on three decades of future-proofing businesses, EQT is today proud to announce the acquisition of leading global pest control specialist Anticimex which becomes the first investment of EQT’s new purpose-driven strategy with longer-term investments and impact at its core. The transaction, where the selling party is the EQT VI fund, has an enterprise value of SEK 60 billion and the investment is made together with several long-term investors, such as Melker Schörling AB (MSAB), who will be the second largest shareholder, GIC, AMF, Interogo Holding Long-Term Equity and Alecta.

Per Franzén, Partner and Head of Private Capital’s Advisory Teams, said, “EQT has always been a thematic-driven investor. In order to best catch the opportunities that today’s global challenges bring, we are introducing a new longer-hold strategy. Having a positive impact on societal and environmental problems takes huge investments, real commitment, and time. To meet these challenges, we are introducing a longer-hold strategy to capture the largest business opportunity of our time, spotting investment opportunities that will reshape the future. This is also a natural development of EQT’s Private Capital platform – our digital focus, with EQT Ventures, Motherbrain and EQT Growth, is now complemented by a longer-hold strategy with impact at the core which is the next step on our sustainability journey.”

Andreas Aschenbrenner, Partner within EQT Private Equity’s Advisory Team, said, “Pest control is vital for both industries and society by reducing pest-borne diseases and food waste. Anticimex is a digital leader in the pest control industry with its SMART technology, driving change towards pesticide-free solutions and increasing efficiency in preventing infestations – together with Jarl and his team, the plan is to further accelerate the roll-out of the SMART solution, over time contributing to a cleaner and healthier world. As such, we believe Anticimex is a perfect example of a company that long-term can reshape an industry and have a substantial positive impact.”

Jarl Dahlfors, CEO at Anticimex, said, “After nine intense years of transformation, with expansion across Europe, North- & South America and APAC, we are thrilled to embark on the next phase of Anticimex’ journey. Together with EQT and the significant investment step-up from MSAB as well as the support from other strong partners like GIC, AMF, Interogo Holding Long-Term Equity, and Alecta, we will be in a strong position to capitalize on the great opportunities ahead.”

Gun Nilsson, CEO at MSAB, said, “MSAB is an active owner, like EQT, with a strong track record in supporting businesses on growth journeys. We share a Nordic heritage and a global mindset and have well-grounded values and a deeply rooted culture. Together, we are natural partners to support Anticimex on this journey. Long-term, we have a firm ambition to remain a major shareholder in Anticimex in line with our established model for industrial holdings.”

Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC, said, “We are pleased to partner with EQT, our longstanding partner, on this investment in Anticimex. The company has been generating strong revenue growth with its local branch-level leadership in every market they operate in, coupled with achieving global scale through acquisitions. In addition, Anticimex utilizes its digital SMART solution of accurate and fast monitoring sensors as well as environmentally-friendly, non-toxic products to be a leading sustainable pest prevention operator. As a long-term investor, we believe Anticimex will bring about positive impact such as keeping societies healthy, reducing societal costs such as food wastage and preventing hazardous events.”

Anders Oscarsson, Head of Equity at AMF, said, “This form of long-term investments, with clear impact objectives, is central to how AMF as an investor aims to create returns to our clients. We look forward to continuing to be part of the Anticimex digital and sustainability story, it is an amazing company with a great potential to further disrupt the entire pest-control industry but now on a truly global scale.”

The transaction is expected to close in Q4 2021.

Contact
EQT Press Office, press@eqtpartners.com

About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. Uniquely, EQT is the only large private markets firm in the world with investment strategies covering all phases of a business’ development, from start-up to maturity. Including Exeter, EQT today has more than EUR 67 billion in assets under management across 26 active funds within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 24 countries across Europe, Asia-Pacific and the Americas and has more than 975 employees.

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

Categories: News

Tags:

CVC Fund VIII to invest in Business Integration Partners

CVC Capital Partners

Majority stake in BIP to be acquired from Apax Partners for an undisclosed sum

BIP, one of Europe’s leading consulting companies, announced today that CVC Capital Partners Fund VIII (“CVC”) has reached an agreement to acquire a majority stake in BIP from Apax Partners, the French private equity firm, for an undisclosed amount. The transaction is subject to customary regulatory approvals.

Following completion of the transaction, CVC will become the new majority shareholder of BIP, while BIP Chairman Nino Lo Bianco, CEOs Carlo Capè and Fabio Troiani and other equity partners will continue as shareholders and in their management roles.

CVC Capital Partners is a leading private equity and investment advisory firm with approximately US$118 billion of assets under management. CVC Funds are invested in over 90 companies worldwide, which have combined annual sales of approximately US$100 billion and employ more than 450,000 people.

BIP, founded in Italy in 2003, is a leading multinational consulting firm employing with presence in 13 countries, employing more than 3,500 people world-wide, with a turnover of 315 million euros in 2020 (an increase of 31% compared to 2019).

“We are thrilled to welcome CVC as our new Partner”, said Nino Lo Bianco, Carlo Capè and Fabio Troiani, founders at the helm of the Group since 2003. “This partnership opens a new phase for our Group, allowing us to work on further ambitious international growth objectives and to strengthen our excellence in the digital transformation sector.

“We also want to thank Apax Partners, for the support provided to us in the exceptional journey made in recent years”.

“The growth trajectory enjoyed by BIP in the past few years is testament to the quality of the services it delivers and the relationship of partnership it has been able to create with its loyal customers”, said Andrea Ferrante, Senior Managing Director at CVC. “We have been impressed by this remarkable group of professionals and are very much looking forward to helping them execute their ambitious international plans in the future.”

Giampiero Mazza, Managing Partner at CVC added: “We are incredibly proud to have been chosen by the partners among a large group of reputable contenders as their companion in the next phase of BIP’s development. BIP has a distinctive value proposition and a deep pool of talent that can be scaled globally. We cannot wait to embark on this exciting journey with Nino, Carlo, Fabio and all the equity partners.”

BIP was advised by Equita, Rothschild, Allen & Overy, Lodovico Bianchi Di Giulio, BonelliErede, PWC and AON.

CVC was advised by BNP Paribas, Latham & Watkins, Facchini Rossi Michelutti, PWC and Bain & Company.

Categories: News

Tags:

Equistone-backed Wealth at Work Announces Investment from Aquiline Capital Partners

No Comments
Equistone
01 Jun 2021

Wealth at Work Group Limited (“Wealth at Work”), a UK-based specialist provider of workplace financial education, guidance and regulated financial advice for individuals, is pleased to announce that it has agreed an investment from Aquiline Capital Partners (“Aquiline”), a private investment firm based in New York and London with $6.4 billion in assets under management.

Wealth at Work’s management team, which continues to be led by CEO, David Cassidy, will retain a significant equity stake. Equistone Partners Europe Limited (“Equistone”) will retain a minority stake in the company alongside Aquiline and management.

Wealth at Work, which employs approximately 250 people, works with over 450 private and public sector employers including Marks & Spencer, BT, Experian and the NHS, delivering financial wellbeing programmes and retirement services.

Since its 2015 management buyout backed by Equistone , Wealth at Work has continued to achieve rapid growth to meet the significant demand for its services, which are now offered to over a million employees across the organisations with which it partners. The technology-driven service is uniquely tailored to each client’s requirements through a complete suite of services ranging from seminars and digital tools such as the Financial Healthcheck through to virtual or telephone guidance services and regulated financial advice.

David Cassidy, Chief Executive Officer of Wealth at Work, said: “This investment will allow us to continue to grow and meet the rapidly increasing demand for our services which are used by a number of the largest companies and organisations in the UK. I very much look forward to working with Aquiline whose deep understanding of the UK and US retirement market and track record of supporting technology-driven growth will help us further develop our offering to clients, deliver innovation and set new standards of best practice. We would also like to take this opportunity to thank Equistone for the support they have provided so far, and we look forward to continuing our work with them as we take our business to the next chapter.”

Jeff Greenberg, Chairman and Chief Executive Officer of Aquiline, said: “Individuals are facing increasingly complex and important financial decisions as they plan for retirement, which Wealth at Work helps them navigate. We believe that David and his team have built a platform that can deliver high-quality, personalised financial guidance and advice to a growing number of workplace savers across the UK in a highly scalable and technology-enabled manner. We are excited about partnering with them in the next phase of their journey.”

Dominic Geer, Senior Partner at Equistone, said: “We are delighted that, after five years of working closely with David and his team at Wealth at Work, the company is in a strong position to explore exciting new opportunities. Wealth at Work has grown significantly since 2015, and through investment in organic and acquisitive growth has emerged as a clear market leader. Equistone has a successful track record of investing in financial services businesses in the UK and internationally and we look forward to remaining involved in this next phase of the company’s development.”

Closing of the investment is subject to the parties obtaining relevant regulatory approval.

Evercore provided corporate finance advice and Herbert Smith Freehills provided legal advice to Aquiline. Due diligence was performed by Oliver Wyman (commercial), Deloitte (financial and tax), West Monroe (technology) and Howden (insurance).

Deloitte’s Manchester and London-based Financial Services teams provided corporate finance advice and Travers Smith provided legal advice to Wealth at Work in relation to the transaction.

PR Contacts

UK

London

Birmingham

Manchester

Categories: News

Tags:

Latour acquires HK Instruments Oy

Latour logo
2021-05-27 08:30

Investment AB Latour (publ) has, through its subsidiary Produal Holdings, acquired HK Instruments Oy, based in Finland. Produal is part of Bemsiq AB, a group of innovative and fast-growing companies providing products in building automation and metering.

HK Instruments, with head office and manufacturing in Muurame, Finland, was founded in 1987 and offers advanced measuring devices for building automation. The company specializes in technologically advanced measuring devices for HVAC applications, including differential pressure transmitters, switches, meters for liquids, gas detection sensors, and more. Total revenues in 2020 amounted to EUR 8 m with 50 employees.

“HK Instruments is a high-quality company in terms of both people and products. We have known the company for many years and are very impressed by their accomplishment. We see great potential to continue developing the company together”, says Anselmi Immonen, CEO at Produal Oy.

“For us, Produal and Bemsiq are the perfect strategic long-term partners. Their extensive product portfolio and industry network combined with the wide distribution channel and global brand presence of HK Instruments give great opportunities for all companies. We are very keen to continue our journey together with them”, says Jukka Kalliomäki, CEO of HK Instruments.

As an effect of the acquisition the net debt (excl. IFRS 16) of the Latour Group is expected to increase compared to the net debt level at the end of March 2021, to around SEK 6.0 billion, all else equal.

The acquisition will be completed in June 2021.

Göteborg, May 27, 2021

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Mikael J Albrektsson, CEO Bemsiq AB, +46 733 23 3606
Anselmi Immonen, CEO Produal Oy, +358 509 11 80 68
Ida Saalman, Business Development Investment AB Latour, +46 727 22 8869

Bemsiq AB, with headquarters in Gothenburg, Sweden, has an annual turnover of SEK 725 m and employs about 270 persons. Bemsiq consists of a group of innovative and fast-growing companies providing products in building automation and metering and is a subsidiary of Latour Industries, which is one of five wholly-owned business areas within the Latour Group.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 79 billion. The wholly-owned industrial operations has an annual turnover of SEK 15 billion.

Downloads