Indeed acquires staffing app Syft

Profounders

Job site Indeed has agreed to acquire hospitality recruitment platform Syft.

The staffing platform was founded in 2015 by Jack Beaman and Novo Abakare, who had raised funding from investors including Creandum, PROfounders Capital, and David Haye. Both will continue with the business.

Syft provides a recruitment solution and shift management tool for part-time and flexible work, connecting vetted jobseekers with shifts through its app.

Indeed chief executive Chris Hyams said: “At Indeed our mission is to help people get jobs. Syft’s simple and transparent approach to shift-work hiring is an innovative solution to the growing demand for part-time and flexible work. We look forward to supporting the Syft team as they continue to improve the hiring experience.”

Beaman added: “Syft’s vision to build the future of work aligns with Indeed’s core mission. At Syft, we set out to create a win-win platform to better serve jobseekers and employers, underpinned by values of fairness and transparency. Demand for flexible work continues to surge as both jobseekers and employers look for greater control and choice. We are excited to grow with Indeed.”

ECI announces investment in Send For Help

ECI

Send For help is the largest lone worker protection service in the UK, Europe and globally. It has three brands; Skyguard, Guardian24 and People Safe

 

Send For Help Group, encompassing Skyguard, Guardian 24 and Peoplesafe

ECI is delighted to announce our investment in Send For Help, the world’s leading provider of lone worker protection. The partnership will support the company’s growth strategy and internationalisation.

Founded in 2010, Send For Help operates under its three subsidiary brands, SkyguardPeoplesafe and Guardian 24. The company protects more than 150,000 lone workers in the UK and Ireland with it’s innovative personal safety devices and mobile phone apps, all linked to a dedicated Alarm Receiving Centre (ARC), staffed 24 hours a day. Users can request help at the touch of a button through their device or app’s ‘SOS’ function. Highly trained ARC staff will offer them assistance and escalate to the appropriate emergency service, providing a faster response than 999. Customers include NHS trusts, local authorities, utilities and major corporations.

The company has achieved rapid growth and success, becoming one of only a handful of businesses to be named in The Sunday Times Fast Track 100 list on three consecutive occasions and gaining recognition from the Financial Times as one of Europe’s fastest growing businesses.

Send For Help ranked in the Financial Times 1000 Fastest Growing Companies in Europe

With an estimated 8 million lone workers in the UK, 23 million in the US and 30 million Europe, the lone worker protection market in Europe and America is forecast to double from £105 million per annum to £226 million by 2021 according to research by analysts Berg Insight.

Send For Help has recently appointed Richard Houghton, former co-founder of Xchanging, as Chairman.

Tom Wrenn, Partner at ECI Partners, said: “Send for Help is just the type of business that ECI wants to work with- offering an excellent service to clients, enjoying a leading position in a growing market, and boasting a highly effective management team. We look forward to working with James and his team to help them realise the next stage of their growth plan.”

James Murray, CEO of Send for Help, said: “ECI have a strong track record of partnering with technology-enabled support service providers and we’re delighted to be working with Tom and the broader ECI team. We have ambitious growth plans to build on our number one market position by reaching ever more customers in the UK and abroad, and helping them to keep their employees safe.”

Categories: News

Tags:

Axon Partners Group exited Nice People at Work

Axon

May 2019. Axon Partners Group has successfully exited Nice People at Work(www.nicepeopleatwork.com), multiplying the investment more than eleven times with an annualized return of over 60%. Nice People at Work is a company, founded in Barcelona, which provides real-time data analytics technology solutions for video. Axon was the only institutional investor in the company with an investment of less than one million euros.

Axon invested in Nice People at Work in 2014 as part of an investment strategy designed for the video sector (a strategy that also involved other successful investments such as Wuaki.tv or Akamon).

Since Axon invested, the company grew exponentially, from insignificant sales in 2014 to revenues of more than ten million euros and an EBITDA of more than two million at the start of 2019. Nice employs 150 people and has a commercial presence worldwide, especially in the US, where Nice opened its office in 2016 and has become a strategic provider of large clients such as, telecommunications operators and Hollywood studios. All this happened in less than five years.

Axon’s team contributed in all areas, from organizational changes and improvements, to legal support for the defense of technology in the American market. Axon was also involved in the corporate strategy of the sale of the company.

We are delighted to have participated in Nice People at Work because it is an example of how with few resources you can build a world-class technological company capable not only of competing, but also of leading, the most difficult markets in the world. We are also grateful to Ferran Gutierrez, Sergi Verges and Otto Wust, an exceptional team of people capable of doing a lot with little, with humility and intelligence ” says Francisco Velázquez, President of Axon and until recently advisor of Nice.

After 6 years, I can say little about Axon as a company that invested in NPAW, but I would have a lot to explain as the partners and mentors that have been for the founder team. Thanks for the support and confidence you have given us these last 6 years.”, says Ferran Gutiérrez, CEO and co-founder of Nice People.

For further information please contact with the Marketing Departmert:
marketing@axonpartnersgroup.com
T. +34 913102894

Categories: News

Tags:

Onit Acquires SimpleLegal to Modernize Global Legal Operations

K1

HOUSTON and MOUNTAIN VIEW, Calif. – May 13, 2019 – Onit, Inc., a leading provider of enterprise workflow solutions including enterprise legal management, contract management and business process automation, today announced the acquisition of SimpleLegal, a leading provider of modern legal spend, matter and vendor management software. Terms of the acquisition were not disclosed.

Onit brings a management team with more than two decades of domain-specific expertise and a history of creating the e-billing and legal spend management market. SimpleLegal brings a fresh perspective to a 30+ year-old corporate market with a focus on simplicity and modern design. Working together, this acquisition will drive meaningful change for the entire legal industry and especially legal operation teams seeking a comprehensive end-to-end solution, legal technology innovation and shared best practices.

“Onit and SimpleLegal share both a passion for both disrupting the legal technology space and valuing product innovation,” said Eric M. Elfman, Onit CEO and co-founder. “Our shared commitment to elevate legal operations technology is an asset for all of our customers – from rapidly growing start-ups with their first in-house counsel all the way to the largest, most complex organizations. Together, our goal is to help all legal operations professionals achieve operational excellence on their legal technology journey.”

All product, support and services will continue uninterrupted for all customers. Management teams from both organizations will remain intact. Elfman, who was previously CEO of Onit, will serve as the CEO of the merged organization, and Nathan Wenzel, previously the CEO and co-founder of SimpleLegal, will serve as the General Manager of SimpleLegal.

“Today, corporations spend more than $160 billion on their in-house legal teams. The combination of Onit and SimpleLegal is a game-changer for the legal market and the future of legal operations,” said Wenzel. “Our teams are uniquely equipped to help shape the technology that is powering legal departments worldwide. Together, we’re looking forward to combining efforts and talent to build and bring to market the next generation of legal operations technology.”

Founded in 2013, SimpleLegal is widely recognized as a disruptor in the legal technology market. With a simple and intuitive solution delivering fast time-to-value, customers have access to software that is easy to use, implement and configure. In the last five years, SimpleLegal has helped corporate legal departments process more than $1 billion annually and manage nearly 500,000 legal matters globally.

About SimpleLegal

SimpleLegal provides a modern legal operations management platform that streamlines the way corporate legal departments manage their matters, track and interpret spend, and collaborate with vendors and law firms. SimpleLegal combines e-Billing and spend management, matter management, vendor management, and reporting and analytics into one comprehensive application to optimize legal operations and the management of the entire legal department. The company, founded in 2013, is privately held and located in Mountain View, California. For more information, visit www.simplelegal.com.

About Onit

Onit is a global leader of enterprise workflow solutions for legal, compliance, sales, IT, HR and finance departments. Our solutions transform best practices into smarter workflows, better processes and operational efficiencies. With a focus on enterprise legal management, matter management, spend management, contract management and legal holds, we operate globally and help transform the way Fortune 500 companies and billion-dollar legal departments bridge the gap between systems of record and systems of engagement. We help customers find gains in efficiency, reduce costs and automate transactions faster. For more information, visit www.onit.com or call 1-800-281-1330.

Source: https://www.onit.com/news/onit-acquires-simplelegal-to-modernize-global-legal-operations/

HPEF IV has entered into an agreement to sell Seagull

Herkules

HPEF IV has entered into an agreement to sell Seagull to a fund managed by Oakley Capital. The agreement was signed on 13 May 2019 and the transaction is expected to close in July 2019.
Seagull is the leading provider of competence & training management solutions for the maritime industry. The company was established in 1996 and is based in Horten, Norway.

HPEF IV invested in Seagull in June 2015. During HPEF IV’s ownership period, Seagull has experienced challenging end-markets with charter rates across its key customer segments at trough levels. Despite this, the company has achieved organic revenue growth and strong profitability improvement.

As part of the value creation plan, two add-ons were completed. The most recent acquisition, Tero Marine, closed in May 2019.

Due to strong cash generation, the company also managed to return substantial capital to its shareholders during the ownership period.

Categories: News

Tags:

BC Partners sells majority stake in Acuris to ION Investment Group

NEW YORK – May 13, 2019 – Funds advised by BC Partners (“BC Partners”) announced the sale of a majority stake in Acuris, a global provider of proprietary financial intelligence, data and analytics, to ION Investment Group (“ION”). ION will acquire a controlling stake in the company from BC Partners and GIC, Singapore’s sovereign wealth fund. BC Partners and Acuris management are reinvesting and will retain minority ownership.

With nearly 1,500 employees in 66 different locations worldwide, Acuris is a leading global financial information provider, with a large and diversified base of investor, advisory and corporate clients. It provides proprietary insights and analytics across six key financial areas: fixed income, transactions, equities, compliance, infrastructure and research. Acuris’ differentiated content and products, including Mergermarket, Debtwire and several others, are deeply embedded in the workflow of over 115,000 daily users and nearly 5,000 subscribing firms.

Nikos Stathopoulos, Partner at BC Partners and Chairman of Acuris, said, “When we invested in Acuris in 2014, we saw an opportunity to accelerate its growth and to build a strong franchise, in partnership with Hamilton and the management team. We invested significantly in Acuris’ technology platform, expanded geographically, launched new products, content and data sets and executed nine accretive acquisitions, which have allowed us to create new product divisions. We’re proud of the way Acuris has developed over the last five years into a leader in global financial intelligence, data and analytics, and see significant potential for further value creation. ION’s complementary capabilities, technologies and customers make it an ideal partner to support the next stage of Acuris’ growth.”

Hamilton Matthews, CEO of Acuris, said, “We are excited to partner with ION and will benefit from the strength of their platforms and their network of relationships with financial institutions and corporations. On behalf of my firm and my team, I extend our gratitude and appreciation to Nikos and BC Partners for their continued support and guidance and we look forward to partnering with ION and BC Partners as we embark on our next phase of growth.”

Andrea Pignataro, ION’s CEO and Founder said “Acuris’ leading position in financial intelligence, data and analytics is highly complementary to ION’s business. Together, ION and Acuris will continue to deliver innovative, differentiated intelligence and solutions to financial institutions and corporations. We are looking forward to partnering with BC Partners to support the company’s growth and development.”

UBS Investment Bank acted as exclusive financial advisor to ION and provided committed financing in support of the transaction. J.P. Morgan and Goldman Sachs acted as financial advisors to Acuris on the transaction.

About BC Partners
BC Partners is a leading international investment firm with over €25 billion of committed capital in private equity, private credit and real estate. Established in 1986, BC Partners has played an active role in developing the European buy-out market for three decades. Today, BC Partners executives operate across markets as an integrated team through the firm’s offices in North America and Europe. Since inception, BC Partners Private Equity has completed 108 private equity investments in companies with a total enterprise value of €135 billion and is currently investing its tenth private equity fund. For more information, please visit www.bcpartners.com.

About Acuris
Founded in 2000, Acuris provides proprietary, actionable intelligence, data and analytics to the world’s principal advisory firms, investment banks, law firms, hedge funds, private equity firms and corporates. Acuris owns a portfolio of mission-critical products spanning six key financial areas including fixed income, transactions, equities, compliance, infrastructure and research. Acuris is a trusted partner for its clients with products deeply embedded in subscriber workflows, enabling users to spot new business opportunities, increase their revenues and keep several steps ahead of the competition. For more information, visit www.acuris.com.

About ION Investment Group
ION Investment Group is a holding company that, through its investments, provides data, analytics and mission-critical trading and workflow solutions to financial institutions, central banks, governments and corporates. For more information, visit www.iongroup.com.

Contacts

For BC Partners:
Prosek Partners
pro-bcpartners@prosek.com
+44 20 8323 0475 / +1 646 818 9287

Categories: News

Tags:

SnapAV and Control4 Announce Merger to Transform the Rapidly Growing Smart Home Solutions Industry

Hellman & Friedman

CHARLOTTE, N.C. & SALT LAKE CITY, UTAH (BUSINESS WIRE)

Two industry leaders combine to empower professional integrators with better service and better solutions to more effectively serve the growing demand for connected homes and businesses

Control4 shareholders to receive $23.91 per share in cash

Acquisition expected to close in second half of 2019

SnapAV, a leading manufacturer and primary source of A/V, surveillance, networking and remote management products for professional integrators, and Control4 Corporation (NASDAQ: CTRL) (“Control4”), a leading global provider of smart home solutions, today announced that they have entered into a definitive merger agreement (the “Agreement”) whereby SnapAV will acquire Control4 in an all-cash transaction for $23.91 per share in cash, representing an aggregate value of approximately $680 million.

“The combination of Control4 and SnapAV is transformative for the smart home industry”

This highly complementary combination will leverage the increased resources of the two companies to provide integrators with a true one-stop shop, offering a complete product portfolio of custom smart-home, control and automation solutions. Together, SnapAV and Control4 will drive increased innovation, simplified integration and compelling solutions that meet the demands of today’s expanding smart home industry. With leading technology solutions, a broad geographic footprint and exceptional service organizations, the combined company is poised to provide integrators with better opportunities to serve customers in the connected home and business markets.

Control4’s Board of Directors has unanimously approved and recommended that stockholders vote in favor of the transaction. Under the terms of the Agreement, SnapAV will acquire all the outstanding common stock of Control4 for $23.91 per share in cash. The purchase price represents a premium of approximately 40% over Control4’s closing price on May 8, 2019, the last trading day prior to execution of the Agreement, and a premium of approximately 38% over Control4’s 30-trading day weighted average share price ended on May 8, 2019. Private equity investment firm Hellman & Friedman—SnapAV’s majority shareholder since 2017—will invest additional equity as part of the transaction and be the majority shareholder of the combined company.

As award-winning industry leaders renowned for quality, service and continuous innovation, SnapAV and Control4 share a deep understanding of and commitment to the custom installation industry and are dedicated to making professional integrators more successful. By merging, SnapAV and Control4 will combine the talent of their collective 1,200+ employees, market-leading solutions, exceptional interoperability and channel platform, dealer-first programs, global distribution and financial resources to deliver value in ways no one else can—enabling integrators to serve their customers better and grow their businesses.

“We have pursued the mission of making our integrators’ lives easier since SnapAV was founded,” said John Heyman, chief executive officer of SnapAV. “Dealers will be able to buy leading solutions, access the best service technicians in the industry and experience simpler installation through purchasing, support and seamless product integration.

“Over the past several years, we have accomplished a number of goals we felt were critical to the success of integrators and the continued growth of SnapAV—including offering local delivery and pick-up through the acquisition of distribution sites around the country and expanding the suite of products available to support integrators. Merging with Control4 and its outstanding team will help us execute on our third critical goal: delivering the industry’s leading automation platform that integrates with the numerous technologies and products required to create customized smart home experiences homeowners desire. Control4 offers a leading automation platform, along with key smart home solutions in the audio, video, lighting, security and networking categories. We are especially excited by the fact that both of our companies have similarly strong “customer first” corporate cultures centered on quality, service and innovation, and we look forward to creating new and exciting opportunities for the teams at both Control4 and SnapAV. In sum, the two companies will be better together, with better service, better solutions and better opportunities for integrators and employees.”

“We believe today’s announced transaction delivers compelling and immediate value to Control4 shareholders in the form of a significant share price premium, and we are excited to have the opportunity to join with the SnapAV team,” said Martin Plaehn, chairman and chief executive officer of Control4. “Together with SnapAV, we will be able to invest even more in innovation, bring together and build upon the very best of our combined capabilities, and do so with improved reliability, responsiveness, security, and privacy for consumers. Today’s announcement will enable us to better serve the expanding smart home market, making the lives of integrators easier and their businesses more effective and efficient.”

Together the combined company will bring a deep understanding of the industry and an unmatched passion for providing best-in-class solutions and service with one objective: create better experiences for consumers and the integrators who serve them. Product integration, remote management, expert service technicians, product simplification, training and timely logistical capabilities will ensure every install is easier, more reliable and delivers fantastic experiences to consumers where they live and work.

“The combination of Control4 and SnapAV is transformative for the smart home industry,” said Erik Ragatz, Partner at Hellman & Friedman and chairman of the Board of Directors of SnapAV. “The increased resources of the combined company will enable it to invest more to drive innovation and deliver best-in-class features, functionality and products. This combination will also allow us to support integrators more effectively than ever before in pursuit of our joint goal of bringing the promise of the connected home to life.”

More than 1,200 employees of the combined company will be led by SnapAV CEO John Heyman and an executive team made up of leaders from both SnapAV and Control4. Control4 CEO Martin Plaehn will join the Board of Directors of the combined company, helping to ensure a smooth integration of the businesses. The merger reflects the value created by bringing together two industry-leading teams of employees who, united, can better serve the needs of the growing smart home segment. The company will share joint headquarters in Charlotte, North Carolina, and Salt Lake City, Utah, with offices and local facilities around the globe.

Transaction Details
As part of the Agreement, Control4’s Board of Directors, with the assistance of its advisors, will conduct a 30-day “go-shop” process following the date of the execution of the definitive agreement, during which it will actively initiate, solicit, encourage and evaluate alternative acquisition proposals, and potentially enter into negotiations with any parties that offer an alternative acquisition proposal. Control4 will have the right to terminate the merger agreement to accept a superior proposal, subject to the terms and conditions of the merger agreement. There can be no assurance that this “go-shop” will result in a superior proposal, and Control4 does not intend to disclose developments with respect to the solicitation process unless and until its Board of Directors makes a determination requiring further disclosure.

Subject to the go-shop, a special meeting of Control4’s shareholders will be held as soon as practicable following the filing of the definitive proxy statement with the U.S. Securities and Exchange Commission (“SEC”) and subsequent mailing to shareholders.

The transaction, which is expected to be completed in the second half of 2019, is subject to the satisfaction of customary closing conditions, including regulatory approvals and approval by Control4 shareholders.

Advisors
In connection with the transaction, Simpson Thacher & Bartlett LLP is serving as legal advisor to SnapAV. Raymond James & Associates, Inc. is serving as financial advisor to Control4 and Goodwin Procter LLP is serving as legal advisor.

Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding Control4’s business and financial outlook and the structure, timing and completion of the proposed transaction. All statements other than statements of historical fact contained in this press release are forward-looking statements. These forward-looking statements are made as of the date they were first issued, and were based on the then-current expectations, estimates, forecasts, and projections, as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Control4’s control. Control4’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: (i) risks associated with Control4’s ability to obtain the stockholder approval required to consummate the proposed merger transaction and the timing of the closing of the proposed merger transaction, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing of the proposed merger transaction will not occur; (ii) the outcome of any legal proceedings that may be instituted against the parties and others related to the merger agreement; (iii) unanticipated difficulties or expenditures relating to the proposed merger transaction, the response of business partners and competitors to the announcement of the proposed merger transaction, and/or potential difficulties in employee retention as a result of the announcement and pendency of the proposed merger transaction; and (iv) those risks detailed in Control4’s most recent Annual Report on Form 10-K, and subsequent filings with the SEC in connection with the proposed transaction, as well as other reports and documents that may be filed by Control4 from time to time with the SEC. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent Control4’s views as of the date of this press release. Control4 anticipates that subsequent events and developments may cause its views to change. Control4 has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. These forward-looking statements should not be relied upon as representing Control4’s views as of any date subsequent to the date of this press release.

Additional Information and Where to Find It
This press release relates to the proposed merger transaction involving Control4 and may be deemed to be solicitation material in respect of the proposed merger transaction involving Control4. In connection with the proposed merger transaction, Control4 will file relevant materials with the SEC, including a proxy statement on Schedule 14A (the “Proxy Statement”). This press release is not a substitute for the Proxy Statement or for any other document that Control4 may file with the SEC and or send to Control4’s stockholders in connection with the proposed merger transaction. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF CONTROL4 ARE URGED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CONTROL4, THE PROPOSED MERGER TRANSACTION AND RELATED MATTERS. Investors and security holders will be able to obtain free copies of the Proxy Statement and other documents filed by Control4 with the SEC through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed by Control4 with the SEC will also be available free of charge on Control4’s website at www.Control4.com, or by contacting Control4’s Investor Relations contact at the Blueshirt Group, LLC at (415) 217-2632. Control4 and its directors and certain of its executive officers may be considered participants in the solicitation of proxies from Control4’s stockholders with respect to the proposed merger transaction under the rules of the SEC. Information about the directors and executive officers of Control4 is set forth in its Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the SEC on February 11, 2019, its proxy statement for its 2019 annual meeting of stockholders, which was filed with the SEC on March 20, 2019 and in subsequent documents filed with the SEC. Additional information regarding the persons who may be deemed participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will also be included in the Proxy Statement and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of this document as described above.

About SnapAV
Established in 2005 and based in Charlotte, North Carolina, SnapAV is a manufacturer and exclusive source of more than 2,700 installation-friendly audio, video, networking, power and surveillance products for residential and commercial A/V integrators. SnapAV empowers integrators to run more efficient businesses by providing high quality products at attractive prices, supported by best-in-class online ordering and award-winning customer service. Additional information about SnapAV and its product brands can be found at www.SnapAV.com.

About Control4
Control4 [NASDAQ: CTRL] is a leading global provider of automation and networking systems for homes and businesses, offering personalized control of lighting, music, video, comfort, security, communications, and more into a unified smart home system that enhances the daily lives of its consumers. Control4 unlocks the potential of connected devices, making networks more robust, entertainment systems easier to use, homes more comfortable and energy efficient, and provides families more peace of mind. Today, every home and business needs automation horsepower and a high-performance network to manage the increasing number of connected devices. The Control4 platform interoperates with more than 13,000 third-party consumer electronics products, ensuring an ever-expanding ecosystem of devices will work together. Control4 is now available in over 100 countries. Leveraging a professional channel that includes over 5,900 custom integrators, retailers, and distributors authorized to sell Control4 products, Pakedge networking solutions and Triad speakers, Control4 is delivering intelligent solutions for consumers, major consumer electronics companies, hotels, and businesses around the world.

About Hellman & Friedman
Hellman & Friedman is a leading private equity investment firm with offices in San Francisco, New York, and London. Since its founding in 1984, Hellman & Friedman has raised over $50 billion of committed capital. The firm focuses on investing in outstanding business franchises and serving as a value-added partner to management in select industries including software, financial services, business & information services, healthcare, internet & media, retail & consumer, and industrials & energy. For more information, please visit www.hf.com.

Contacts
Dana Gorman
Abernathy MacGregor
dtg@abmac.com
(212) 371-5999

James Bourne
Abernathy MacGregor
jab@abmac.com
(213) 360-6550

William Braun
Abernathy MacGregor
whb@abmac.com
(212) 371-5999

Categories: News

Tags:

Ardian invests in Rivalis, a leading french network supporting executives of small companies

Ardian

Paris, 8 April 2019 – Ardian, a world leading private investment house, today announces the acquisition of a minority stake in Rivalis, a leading French network for executive support, as part of an owner buyout (OBO) alongside the company’s management.

Created in 1994 in Colmar, France, this family business has seen rapid growth, becoming one of the leading supporters of executives of micro-businesses, craftsmen and SMEs in France today. This is thanks to its network of 500 independent advisors and 17,500 users. Rivalis provides business managers with a real-time overview of their company’s financial situation (such as turnover, profitability and forecasts) and enables these individuals to measure the impact of their decisions on areas such as budget, recruitment and investment. Rivalis also offers its clients expert advice to help them improve performance of the companies, to perpetuate the activity and to provide long-term support to the manager.

The company has reinforced its offering with the website www.petite-enterprise-net, the first service portal developed to answer questions from business leaders. The portal counts more than 9 million visitors per year. In addition, Rivalis has developed Henrri, a software as a service “freemium plus” assistant, in response to key needs of micro-businesses, craftsmen and SMEs, which include budget, invoices, payments and dashboards.

Lionel Valdan, co-founder of Rivalis, said: “With the arrival of an investor like Ardian, we are equipping ourselves with the vital resources to support our growth ambitions, in particular by strengthening our digital expertise and by introducing a targeted acquisition strategy.”

Damien Valdan, co-founder, added: “This is an important chapter in the Rivalis growth story. Ardian Growth is our leading investor and we believe it is invaluable to join forces with a partner who shares our entrepreneurial approach as well as the values our success was built on: human, digital and innovation.”

Romain Chiudini, Director within the Ardian Growth team, said: “Beyond its solid financial foundations, Rivalis has built a unique offer around a previously unseen business model. The founders’ innovative vision and the strength of its management team was a key factor in our decision to partner with Rivalis to help realize its growth ambitions.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$90bn 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 590 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 800 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT RIVALIS

Founded in Alsace, France, in 1994, the Rivalis Group was created in response to the lack of support and assistance adapted to small businesses (craftsmen, shopkeepers, liberal professions, very small businesses). Rivalis provides a solution for business leaders who wish to develop their business and offers a permanent advisor for tailor-made support. The Advisor is based on an adapted method and incorporates tools designed by Rivalis. With 522 independent advisors in the field and 17,500 users, Rivalis is the number one network for executive support in France today and the company is successful because it meets the real needs of micro-businesses, craftsmen and SMEs.

LIST OF PARTICIPANTS

– Rivalis: Lionel Valdan, Damien Valdan
– Ardian: Romain Chiudini, Florian Dupont
– Rivalis Financial Advisor: DT EXPERTISE (David Taristas)
– Ardian Financial Advisor: Next (Hervé Krissi, Eric Chan)
– Rivalis Legal Advisor: Cabinet LICHTENAUER (Catherine Lichtenauer)
– Ardian Corporate Legal Advisor: Gaftarnik, Le Douarin & Associés (Mickael Levi, Sarah Mobtahije)
– Ardian Tax Advisor: Mamou & Boccara (Laurent Mamou)
– Ardian Social Legal Advisor: Bonna Auzas Avocats (Sigmund Briant)
– Rivalis Strategic Advisor: Norima conseils (Christophe Camborde)
– Company Corporate Finance Advisor: Linkers (Jérôme Luis)
– Arranger: CIC Est (Valérie Petitjean, Quentin Fessler-Debove, Thomas Garnier)

PRESS CONTACTS

ARDIAN
Headland
Viktor Tsvetanov
vtsvetanov@headlandconsultancy.com
Tel: +44 (0)20 3435 7469

Categories: News

Tags:

Platinum Equity Completes Acquisition of Livingston International

Platinum

(Los Angeles, May 2, 2019) – Platinum Equity today announced it has completed the acquisition of North American customs brokerage and trade services firm Livingston International.

Headquartered in Toronto, Ontario, with U.S. headquarters in Chicago, Il, Livingston International is the largest pure-play customs brokerage in North America and boasts the widest presence along America’s northern border. It is also the third-largest customs entry filer in the United States. The company serves as a trusted adviser to more than 30,000 businesses globally, facilitating the completion and transmission of customs documentation and ensuring goods are cleared through international borders seamlessly and expediently.

Livingston is also a leading provider of global trade management services, including trade consulting and customs compliance, helping businesses optimize their use of free trade agreements, mitigate compliance risk and recover duties where possible.

Platinum Equity is a global private equity firm with approximately $13 billion of assets under management and a highly specialized focus on business operations.

“Livingston has served as a critical partner to businesses around the world as they react and adapt to changes in the global trade environment,” said Dan McHugh, Chief Executive Officer, Livingston International. “We are excited about the possibilities that lie ahead and look forward to benefiting from Platinum’s dedicated resources and counsel as we continue to focus on providing best-in-class brokerage, freight forwarding and trade management solutions.”

In addition to its role as a trusted customs broker and adviser, Livingston offers international freight forwarding solutions with special emphasis on North American transportation and global air and sea freight capabilities. Its freight solutions also include value-added services, such as warehousing, barge services and project cargo.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $13 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 23 years Platinum Equity has completed more than 250 acquisitions.

About Livingston International 
Livingston International focuses on customs brokerage and trade compliance, offering international trade consulting, global trade management and freight forwarding. It provides clarity in a world of trade complexity, so businesses can grow further, faster and smarter. Livingston employs approximately 3,200 associates at more than 100 key border points, sea ports, airports and other strategic locations across North America, Europe and Asia. Visit us at www.livingstonintl.com, and on TwitterLinkedIn and Facebook.

Media Contacts

Dan Whelan
Platinum Equity
310-282-9202
dwhelan@platinumequity.com

Dan Ovsey
Director, Public Relations & Marketing Communications
Livingston International
1-800-387-7582 / ext. 13088
dovsey@livingstonintl.com

Investor Relations
and Media Contacts:

Mark Barnhill
Partner
+1 310.228.9514 E-mail Mark

Dan Whelan
Principal
+1 310.282.9202 E-mail Dan

Categories: News

Tags:

Onex Invests in Convex

Onex

Toronto, April 30, 2019 – Onex Corporation (“Onex”) (TSX: ONEX) today announced Onex
Partners V and a consortium of co-investors have committed to invest $1.8 billion in Convex
Group Limited (“Convex”), of which approximately $1.6 billion has been funded.
Convex is a de novo specialty property and casualty insurance company headquartered in Bermuda
with an office in London. The company will write insurance and reinsurance with a focus on
underwriting complex specialty risks across a diversified range of business lines. The company is
led by Stephen Catlin, Paul Brand and a team of well-respected insurance industry experts.
“We’re very excited to partner with Stephen, Paul and the rest of the Convex team. They have a
reputation for disciplined underwriting and strong relationships as well as a multi-decade track
record of delivering market outperformance,” said Bobby Le Blanc, a Senior Managing Director
of Onex.

Todd Clegg, a Managing Director of Onex continued, “Consolidation within the insurance sector
has created opportunity for an independent carrier with a focused, specialist proposition, capable
of serving clients with complex risk exposures. The Convex platform is designed to satisfy this
demand.”

“Onex has a track record of successful investing in the insurance industry and a consistent view of
the market opportunity making it the ideal partner for us,” said Stephen Catlin, Chairman and Chief
Executive Officer of Convex. “With Onex’ support, Convex is uniquely positioned to provide a
high touch, client-service focused approach and leverage innovative and proprietary technology to
enhance the value we bring to our clients.”
The funded investment includes $750 million from Onex Partners V, $780 million from
co-investors, including PSP Investments, and $50 million from the Convex management team.
Onex’ portion of the equity investment as a Limited Partner in the Fund is $124 million.

About Onex
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and
ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with
talented management teams. At Onex Credit, Onex manages and invests in leveraged loans,
collateralized loan obligations and other credit securities. Onex has $31 billion of assets under
management, including $6.4 billion of Onex proprietary capital, in private equity and credit
securities. With offices in Toronto, New York, New Jersey and London, Onex and the team are
collectively the largest investors across Onex’ platforms.
Onex’ businesses have assets of $51 billion, generate annual revenues of $32 billion and employ
approximately 217,000 people worldwide. Onex shares trade on the Toronto Stock Exchange
under the stock symbol ONEX. For more information on Onex, visit its website at
www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.
Forward-Looking Statements

This news release may contain forward-looking statements that are based on management’s current
expectations and are subject to known and unknown uncertainties and risks, which could cause
actual results to differ materially from those contemplated or implied by such forward-looking
statements. Onex is under no obligation to update any forward-looking statements contained
herein should material facts change due to new information, future events or otherwise.

For further information:
Emilie Blouin
Director, Investor Relations
Tel: +1 416.362.7711

Categories: News

Tags: