Duff & Phelps Expands Service Offering with Acquisition of Prime Clerk

Carlyle

Launches Technology-Driven Claims and Noticing Administration Practice

NEW YORK – Duff & Phelps, the global advisor that protects, restores and maximizes value for clients, today announced it has signed a definitive agreement to acquire Prime Clerk, a claims and noticing administrator based in New York. The transaction, terms of which were not disclosed, is expected to close during the first quarter of 2019, subject to customary closing conditions and regulatory approval.

Prime Clerk provides claims administration services through its proprietary software and industry-leading team. The company’s suite of services includes case filing preparation, noticing solutions, claims administration, balloting and tabulation, securities noticing and balloting, corporate events (including rights offerings, tender offerings and treatment elections), secure disbursements, strategic communications and call center support, and case-specific websites.

Prime Clerk was founded in 2013 to bring a technologically advanced, professional and cost-effective claims management solution to the claims administration industry. Following the acquisition, Shai Waisman, Chief Executive Officer of Prime Clerk, will remain in his current position and head the Prime Clerk business unit of Duff & Phelps. Waisman will report directly to Jacob Silverman, President of Duff & Phelps.

Noah Gottdiener, Chief Executive Officer of Duff & Phelps, commented: “Prime Clerk is the undisputed leader in its industry, and I am thrilled to welcome this talented and accomplished group of professionals to Duff & Phelps. This acquisition, along with the addition of Kroll last year, creates a world-class suite of dispute, investigation and claims administration services for the legal channel. I share Shai’s vision for building the business, and I am confident that together we can accelerate growth in this vibrant arena.”

“Prime Clerk has a legacy of delivering superb client service leveraging the most respected professional staff and unmatched industry technology. Duff & Phelps has built a global and diversified franchise that helps clients protect and enhance their value through this shared philosophy. I am excited to bring our market-leading business into partnership with this outstanding group of professionals. I look forward to expanding the services we can offer to our clients and continuing our growth. All of us at Prime Clerk are excited about this new chapter for our firm,” said Waisman.

Shary Moalemzadeh, Co-Head of Carlyle Strategic Partners, said, “The combination of Duff & Phelps and Prime Clerk will benefit current and prospective clients of both companies. We are pleased with Prime Clerk’s growth and success during our investment and are excited to be investing in this transaction and to be a stakeholder in Duff & Phelps going forward as it adds the Prime Clerk platform to its business.  I am confident the combined company will continue to innovate and be a key strategic partner to companies throughout the U.S. and globally.”

UBS Investment Bank and Goldman Sachs acted as financial advisors to Duff & Phelps and provided committed financing in support of the transaction. Kirkland & Ellis and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Duff & Phelps and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Prime Clerk and The Carlyle Group.

* * * * *

About Duff & Phelps

Duff & Phelps is the global advisor that protects, restores and maximizes value for clients in the areas of valuation, corporate finance, investigations, disputes, cyber security, compliance and regulatory matters, and other governance-related issues. We work with clients across diverse sectors, mitigating risk to assets, operations and people. With Kroll, a division of Duff & Phelps since 2018, our firm has nearly 3,500 professionals in 28 countries around the world. For more information, visit www.duffandphelps.com.

About Prime Clerk

Prime Clerk, a claims and noticing agent founded in 2013 and based in New York, was established by veteran attorneys and consultants to bring next generation technology, leading professionalism and reliable service into a stagnant industry. Prime Clerk delivers tailored, practical and client-collaborative solutions to claims administration. www.primeclerk.com

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $212 billion of assets under management across 339 investment vehicles as of September 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents. www.carlyle.com

CONTACTS:

Duff & Phelps
Angela Tucciarone
+1 212-871-6237
angela.tucciarone@duffandphelps.com

The Carlyle Group
Liz Gill
+1-202-729-5385
Elizabeth.gill@carlyle.com

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EQT acquires Osmose Utilities Services, Inc.

eqt

  • EQT Infrastructure has acquired Osmose Utilities Services, Inc., the leading provider of critical inspection, maintenance and restoration services for utility and telecom infrastructure in the U.S.
  • Osmose benefits from attractive long-term industry tailwinds driven by aging infrastructure and increasing regulation and utilization of infrastructure for telecommunications
  • EQT Infrastructure to support Osmose’s pursuit of growth and continued operational improvement by leveraging EQT’s deep sector expertise in utility and telecom end markets as well as its network of Industrial Advisors

EQT Infrastructure today announced that it has acquired Osmose Utilities Services, Inc. (”Osmose” or the “Company”) from Kohlberg Investors VII, a fund managed by Kohlberg & Company, LLC. Osmose will maintain its corporate headquarters in Peachtree City, Georgia, under the continued leadership of CEO Ron Childress and the Osmose management team. Terms of the transaction were not disclosed.

Founded in 1934, Osmose is the leading provider of critical inspection, maintenance and restoration services for wood and steel infrastructure in the United States. Osmose leverages its scale, multi-decade operational experience and proprietary data analytics to deliver a unique and essential service that is cost-effective, improves infrastructure reliability and reduces risk for its utility and telecom customers. This strong value proposition, combined with service, quality and a world-class safety record, has allowed Osmose to maintain relationships averaging around 40 years with its top 50 customers.

EQT will support Osmose in its next phase of development as the Company focuses on accelerating service expansion with existing and new customers, further enhancing its data analytics capabilities and scaling its base of talented and high-performing foremen to support growth. Moreover, EQT will leverage its bench of Industrial Advisors with extensive experience in utilities, telecom and similar services businesses to drive growth and achieve operational efficiencies.

Erwin Thompson, Partner at EQT Partners, Investment Advisor to EQT Infrastructure commented: “Osmose is unique among utility services businesses due to its strong infrastructure characteristics and fits perfectly within EQT Infrastructure’s approach of targeting high-quality, stable businesses with transformation potential. We have been impressed with the Company’s historical growth trajectory and ongoing transformation fueled by a data-based sales strategy. We are excited by the opportunity to help shape the next phase of growth for Osmose, together with an exceptionally talented group of people led by CEO Ron Childress and supported by an outstanding executive management team.”

“We have enjoyed building a relationship with EQT throughout this process and are confident this partnership will help Osmose achieve continued success in the future,” commented Ron Childress, CEO of Osmose. “We are excited to leverage EQT’s extensive resources as we continue investing in new capabilities and expanding into new markets to accelerate growth. We appreciate the investment and partnership Kohlberg offered throughout their ownership, which positioned us well for long-term success.”

“We have enjoyed our partnership with Ron and the Osmose team, who have uniquely positioned the Company as a differentiated market leader with significant growth capabilities and expansion opportunities in the utilities services market,” commented Benjamin Mao, Partner at Kohlberg & Company. “We look forward to the continued success of Osmose in partnership with EQT.”

Kirkland & Ellis LLP served as legal advisor to EQT Infrastructure. Goldman Sachs & Co. LLC and Harris Williams served as financial advisors and Ropes & Gray LLP acted as legal counsel to Osmose.

Contact
Erwin Thompson, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, +1 917 281 0841
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com
International inquiries: EQT Press Office, +46 8 506 55, 334, press@eqtpartners.com

About EQT
EQT is a leading alternative investments firm founded in 1994, with more than EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. 

More info: www.eqtpartners.com

About Osmose Utilities Services, Inc.
Founded in 1934, Osmose is the market-leading provider of critical inspection, maintenance and restoration services for utility and telecom infrastructure in North America. Osmose’s services include wood pole inspection, treatment and restoration, steel structure inspection and rehabilitation, structural engineering services, and other ancillary services. Osmose employs 3,258 people including 2,613 field employees across the country, as well as professional engineers, corrosion experts and software developers at its headquarters in Peachtree City, Georgia.

More info: www.osmose.com

About Kohlberg & Company, LLC
Kohlberg & Company, LLC (“Kohlberg”) is a leading private equity firm headquartered in Mount Kisco, New York. Since its inception in 1987, Kohlberg has organized eight private equity funds, through which it has raised over $7.5 billion of committed equity capital. Over its 32-year history, Kohlberg has completed 76 platform investments and nearly 200 add-on acquisitions, with an aggregate transaction value of over $15 billion.

More info: www.kohlberg.com

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OPTIMIND welcomes ARDIAN as a minority shareholder

Ardian

Paris, 22 January 2019 – Optimind has chosen Ardian, a world leading private investment house, to support its growth and development as part of a fundraising round totalling €25 million.
Optimind is an independent consulting firm that provides support to insurance firms, banks and corporate clients through its expertise in qualitative, quantitative and administrative risk management solutions. The company focuses on five main practice areas:
  • Actuarial and Financial Services,
  • Corporate Risk Services,
  • Risk Management,
  • Business Transformation,
  • Business Process Outsourcing.
Optimind has more than 200 employees, and generates turnover of €30 million. The introduction of Ardian as a minority shareholder will allow the company to accelerate its expansion through major investments and external growth.
Christophe Eberlé, CEO of Optimind, said: “Ardian’s investment in our company proves the strength and relevance of Optimind’s business model and it is a recognition of our strong performance and of the quality of our teams. Ardian is a great asset to have behind us and our partnership will be key in progressing our organic and external growth strategy.”
Alexis Saada, Managing Director at Ardian Growth, added: “Christophe Eberlé and his team have clearly demonstrated their ability to implement an ambitious strategy and position Optimind as a leading independent risk management consultancy firm. This transaction reflects our commitment to supporting high-growth potential companies.”
Geoffroy de La Grandière, Director of Ardian Growth, added: “The expertise and entrepreneurial spirit of Optimind’s team is reflected in the company’s continued focus on innovation. Optimind has great potential for expansion and we look forward to partnering with the team to support the business in its further growth ambitions.”

ABOUT OPTIMIND

Optimind is an independent consulting firm that supports insurance firms, banks and large companies in focusing on opportunities that can increase their performance. We offer advisory services and solutions to help address the major challenges of competitiveness, transformation and regulation. Despite the risks associated, these challenges offer significant opportunities for development. Our range of services cover all aspects of our clients’ value chain: Strategy, Finance, Risk, Compliance, Market, Human Resources, Digital Transformation, Data, BPO.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$82bn 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 560 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 750 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

LIST OF PARTICIPANTS

– Optimind: Christophe Eberlé, Pierre-Alain Boscher, Jean-Charles Simon
– Ardian: Alexis Saada, Geoffroy de La Grandière, Mélissa Yvonnou- Strategic DD Ardian: Chappuis Halder (Pierre Bustamante, Louis Forteguerre, Valérie Herisson-Andouart)
– Financial Advisor to Ardian: Eight Advisory (Fabien Thièblemont, Nabil Saci)
– Tax Advisor to Ardian: Arsene Taxand (Franck Chaminade, Noémie Bastien, Sarah Lellouche)
– Legal Advisor to Ardian: Baker & McKenzie (Matthieu Grollemund, Hélène Parent,– corporate / Gonzague Basso– banking / Charles Baudoin – tax)

– Corporate Finance Lead Advisor: Corporate Finance International (Clément Barbot)
– Corporate Legal & Tax Advisor: Jean-Charles Béroard

– Arranger Bank: Société Générale (Patrick Evin, Gaëlle Seznec, Guillaume Mayot)

PRESS CONTACTS

ARDIAN
Headland
Viktor Tsvetanov
OPTIMIND
Marine de Pallières

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HEPACO Acquires PetroChem Recovery Services

Gryphon Investors

Transaction Represents the 4th Acquisition Completed Under Gryphon’s Ownership

Charlotte, NC – January 18, 2019 —

HEPACO, LLC (“HEPACO”), a leading provider of environmental and emergency response services, announced today that it has acquired PetroChem Recovery Services, Inc. (“PetroChem” or “the Company”) from Succession Capital Partners. Headquartered in Norfolk, VA, PetroChem is a leading environmental services provider for transportation, industrial, and government clients. Terms of the deal were not disclosed. HEPACO is majority-owned by San Francisco-based Gryphon Investors, a leading middle market private equity firm. This transaction represents the fourth acquisition completed under Gryphon’s ownership.

HEPACO Chief Executive Officer Ken Smith said, “We are thrilled to announce the acquisition of PetroChem and welcome their team to HEPACO.” Mr. Smith added, “We look forward to working with the PetroChem team to enhance our emergency response and environmental service offerings and better serve our customers.” HEPACO Chairman and Gryphon Operating Partner Phil Petrocelli said, “We are excited to continue our successful acquisition strategy with the PetroChem transaction. We anticipate continuing HEPACO’s expansion through new geographies and greater coverage density in attractive markets.”

Succession Capital Partners Managing Partner Matt Malone stated, “We have very much enjoyed working with the talented team at PetroChem and are delighted to announce the Company’s sale to HEPACO, which we believe is the ideal partner to facilitate PetroChem’s next phase of growth for both its customers and employees.”

Katten Muchin Rosenman LLP acted as legal advisor to HEPACO, while Queen Saenz + Schutz PLLC represented PetroChem.

About HEPACO
HEPACO (www.hepaco.com) is a leading provider of emergency response, environmental remediation, maritime services, wastewater treatment, and other industrial services across a diversified group of end markets including rail, oil & gas, transportation, power & utility, and manufacturing. The company has a broad geographic footprint more than 40 locations in the Mid-Atlantic, Midwest, Northeast, and Southeast United States and offers a three-hour or less response time within its footprint and on a national basis through its managed network of third-party emergency response vendors. HEPACO provides services on both an emergency response and planned basis.

About PetroChem Recovery Services 
Based in Norfolk, VA, PetroChem (www.petrochemrecovery.com) serves as a full service environmental consulting and remediation company in the Mid-Atlantic region to large industrial, government agencies, small business, and residential clients. PetroChem provides emergency response to spill incidents in addition to hazardous material stabilization and packaging, facility decontamination, and hazardous waste transportation and disposal.

About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management teams. The firm has managed more than $4.5 billion of equity investments and capital since its founding in 1997. Gryphon targets making equity investments of $50 million to $200 million in portfolio companies with sales ranging from approximately $100 million to $500 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.

Contacts

 

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GP Bullhound advises Inside Ideas Group, owner of OLIVER, on majority sale to You & Mr Jones

Gp Bullhound

GP Bullhound acted as the financial advisor to Inside Ideas Group, the owner of in-house agency specialist OLIVER, on its majority sale to global Brandtech group You & Mr Jones.

OLIVER pioneered the in-house model that is reshaping the marketing landscape by creating dedicated in-house capabilities which operate from within their clients’ organisations.

Founded in 2004, OLIVER and Inside Ideas Group have grown to 1,500 staff working in 146 in-house teams across 36 countries, with annual revenues of more than $150 million. Inside Ideas Group clients include Unilever, Adidas, Marriott, BMW, Microsoft, Virgin Media, 3M, Barclaycard, Google, Manulife, PepsiCo and AXA.

Simon Martin, founder and CEO of Inside Ideas Group commented: “We had a great deal of interest in our business, but for us the opportunity to connect our in-house model to the world’s leading marketing technology platform was by far the most interesting. We chose to work with GP Bullhound because they are the leading global dealmaker in the digital services arena and they delivered exactly the deal we wanted.”

Simon Nicholls, Partner at GP Bullhound commented: “The delivery of marketing services is seeing material disruption from both new entrants and new business models, like OLIVER’s, designed ground-up for the multi-channel and always-on digital age. OLIVER is a true pioneer and category leader and I expect its rapid growth to accelerate as part of You & Mr Jones.”

The transaction is further testament to GP Bullhound’s expertise in advising category leaders in the Digital Services sector, with more than 20 transactions completed in this sector in the last 24 months including the sales of Namics to Merkle, Solita to Apax Digital, Wongdoody to Infosys, and Kepler to Kyu among many others.

Enquiries
For enquiries please contact: Simon Nicholls, Partner, at simon.nicholls@gpbullhound.com or Alexis Scorer, Executive Director, at alexis.scorer@gpbullhound.com

About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit www.gpbullhound.com, or follow on Twitter @GPBullhound.

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GP Bullhound advises Falcon.io on its sale to Cision

Gp Bullhound

Headquartered in Copenhagen, Falcon.io offers an integrated SaaS platform for social media listening, engaging, publishing, measuring, advertising and managing customer data. The Company enables its clients to explore the full potential of digital marketing by managing multiple customer touchpoints from one platform. Falcon.io’s diverse and global client portfolio includes Carlsberg, Toyota, William Grant & Sons, Momondo, Panasonic, Coca-Cola, and many more.

Cision Ltd. (NYSE:  CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. By adding Falcon’s social marketing solutions to the Cision portfolio, Cision will allow industry professionals to execute sophisticated social media campaigns across paid, owned, and earned media that spans the entire customer journey.

“Social media is core to today’s customer experience, with nearly 2.5 billion users. At Falcon.io, we take pride in providing world-class brands with our leading social media marketing solution,” said Ulrik Bo Larsen, Falcon.io founder and CEO. “GP Bullhound was an outstanding advisor to us, with excellent sector knowledge and creative ideas throughout the entire process. Their team remained dedicated to delivering an outstanding result and we could not have achieved this outcome without the GP Bullhound team.”

Jonathan Cantwell, Director at GP Bullhound, commented: “Having known the Company and team for several years, we are thrilled to have advised Falcon in this important transaction. Cision and Falcon will be a force in the marketing comms and social space for a long time.”

This marks GP Bullhound’s 10th software transaction in the last twelve months and highlights the firm’s track record of working with leading SaaS companies globally. Selected previous transactions include Synthesio (sold to Ipsos), Rant & Rave (sold to Upland Software), Extenda (sold to STG Partners), TextRecruit (sold to iCIMS), and many others.

Inquiries
For inquiries please contact:
Jonathan Cantwell, Director, at Jonathan.Cantwell@gpbullhound.com
Carl Wessberg, Executive Director, at Carl.Wessberg@gpbullhound.com
Eric Crowley, Vice President, at Eric.Crowley@gpbullhound.com

About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit www.gpbullhound.com, or follow on Twitter @GPBullhound.

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Triton completes acquisition of Dantaxi 4×48

Triton

Copenhagen (Denmark) / Virum (Denmark) 03 January 2019 – Funds advised by Triton (“Triton”) has completed the acquisition of the companies commonly referred to under the brand Dantaxi 4×48. Terms of the transaction are not disclosed.

Dantaxi 4×48 was a haulier-owned Danish taxi company created through the merger between Dantaxi and 4×48 TaxiNord in January 2017. Dantaxi 4×48 is the largest taxi company in Denmark with more than 1,600 taxis and nationwide coverage.

About Triton
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 38 companies currently in Triton’s portfolio have combined sales of around € 13.1 billion and around 85,000 employees.

The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.

For more information: www.triton-partners.com

About Dantaxi 4×48
Dantaxi 4×48 was a Danish haulier-owned taxi company created through the merger between Dantaxi and 4×48 TaxiNord in January 2017. The company is the only nationwide aggregator of taxiservices in Denmark with more than 1,600 taxis associated. In 2017, the company generated gross revenue of around DKK 1.6 billion and completed around 7 million trips.

For more information: https://dantaxi4x48.dk/

Press contacts:

Triton
Fredrik Hazén
+46 70 948 38 10

Dantaxi 4×48
Rasmus Krochin
+45 22 45 77 53

 

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A record-breaking 2018 for bm|t

BM-T

In 2018, for the second year in a row, bm|t´s investee-partners raised over 100 Mio. EUR. bm|t itself invested nearly 30 Mio. EUR in 29 companies, 16 of which were new investee-partners – a record for bm|t. In 2018, co-Investors invested over 70 Mio. EUR in 32 companies in which bm|t is invested. “2018 was again an excellent year for capital raising for bm|t´s investee-partners, and the substantial private investment is a strong validation of the attractiveness of the innovative companies we have in Thüringen,” commented Kevin Reeder, CEO of bm|t.

We are extremely pleased with the quantity and, most importantly, the quality of the new investee-partners we were able to gain in 2018. The strength of the teams, the level of technology, and the uniqueness of the business models have all been trending positively over the last years, but 2018 was truly a breakthrough year, with compelling investments in 16 new investee-partners. Our team worked extremely hard throughout the year to close a record number of deals and lay the foundation for the next decade of strong investment results and economic activity for Thüringen,” said Mr. Reeder.

bm|t currently manages eight investment funds that span the entire spectrum of the corporate lifecycle, from seed investments for start-ups to growth equity and mezzanine funding for established companies. “In 2018, we experienced a healthy mix of early-stage, growth-stage, and late-stage investments, and it is clear that the breadth of our portfolio across stages and sectors has been a key element of our success to date,” commented Mr. Reeder. In 2018, a significant partial-exit further cemented bm|t´s strong investment performance.

In 2018, bm|t celebrated its 15th year as an investment company focused on stimulating economic activity in Thüringen and generating positive investment returns. “The strong results of the last two years, both in terms of investment returns and invested capital, give the entire team a high degree of confidence that we are fulfilling our mission of strengthening Thüringen´s economy through targeted investments in innovative growth companies,” concluded Mr. Reeder.

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Leadec closes Veltec sale to Plant Systems & Services PSS GmbH

Triton

Stuttgart/Niedernberg, 2018-12-21 – Today, the Leadec Group announced the closing of the sale of the Veltec Group to Plant Systems & Services PSS GmbH after receiving the competent competition authorities’ approval.

The signing took place on November 23, 2018. The Veltec Group was taken over retroactively as of December 31, 2017. It has been agreed to maintain silence on the framework conditions of the sale.

Leadec will completely focus on its strategic growth targets in the manufacturing industry, while Veltec will strengthen its position in the process industry with PSS as a strategic partner. The sale has no impact on Veltec’s current projects and framework contracts.

About Leadec

Leadec is the leading provider of technical services for the automotive and manufacturing industries. The company, which is headquartered in Stuttgart, employs almost 20,000 people worldwide. In 2017 Leadec earned sales of around EUR 900 million. For more than 50 years, Leadec has been supporting its customers along the entire production supply chain. The service provider is based at more than 200 locations, often directly at the customers’ plants and facilities.

Leadec’s global services comprise: Install (installation and automation, disassembly and reassembly), Maintain (production equipment maintenance and technical cleaning), Support (IFM/TFM and internal logistics) and Digitize&Optimize (process engineering and digital services) as well as other local services.

For more information about Leadec go to: www.leadec-services.com

About Veltec

Veltec is a leading European provider of technical maintenance services for the process and power plant industries, focusing on customers in Central and Northern Europe. Veltec currently has 9 branches and the Veltec service team supports customers in the process industries oil and gas, chemicals, life sciences, raw materials and power plants on site at 35 additional sites.

For more information about Veltec go to: www.veltec-services.com

About Plant Systems & Services PSS GmbH

Plant Systems & Services PSS GmbH is the holding company for a group of specialized companies that provide services for the energy and process industry, such as for power plants and chemical and steel companies, waste incineration plants and district heating suppliers.

The group is composed of four companies, including Etabo Energietechnik und Anlagenservice GmbH, which has its headquarters in Bochum, Germany and has more than 40 years of experience in construction and maintenance of pipelines and components for power plants and industrial sites in Germany. The group also comprises three smaller companies in other locations in North Rhine-Westphalia and Lower Saxony.

For more information about Plant Systems & Services PSS GmbH go to: www.elka-beteiligungs.de

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ucandoo makes vacationing easily affordable

BM-T

The finTech-company, ucandoo, is revolutionizing the market for travel financing

Erfurt, Germany based ucandoo raised a single-digit million investment from lead-investor bm|t beteiligungsmanagement thüringen gmbh and Alpanekino Ltd. ucandoo is a fintech start-up that has developed a platform to make financing travel hassle-free. Experts estimate that today 25 percent of all travel is financed, and the market is growing strongly.

ucandoo´s platform replaces the current cumbersome path via banks and unites the largely separate worlds of travel booking and travel financing.

Customers can now decide in a travel agency if they would like to pay for travel in the conventional manner or with a credit financing with a maximum 12-month duration and a fair interest rate. With only a few data inputs, ucandoo´s partner bank performs an instant creditworthiness check and delivers a financing decision. The service is simple and transparent for the customer and saves significant time spent filling out paperwork at a bank, and, importantly, allows for the time-shifting of payment for travel.

Ucandoo Makes Vacationing Easily Affordable

ucandoo is first launching its platform for physical travel agencies and will then address the online market in a second phase. In Germany, for example, over 60% of leisure travel is still booked with physical travel agencies. ucandoo has already won the largest travel-coop in Europe, Raiffeisen-Touristikgruppe, with 7,000 travel agencies in Germany, Austria, Belgian, Holland, and Luxemburg as a key partner. The service will be successively rolled out in Raiffeisen-Touristikgruppe travel agencies throughout 2019. “The product should allow people to take trips that they previously could not have afforded,” explained shareholder and manager Julien Bahadir. Mr. Bahadir also believes the availability of easy financing will result in the booking of higher-end travel. “This investment will allow us to sustainably change the market for financed travel,” he added.

We strengthen Thüringen´s Economy through targeted investments in innovative growth companies with high potential,” said Kevin Reeder, CEO of bm|t beteiligungsmanagement gmbh. “We believe in the ucandoo team and that they will significantly contribute to the travel market. The startup from Erfurt has a strong idea and vision for disrupting the travel financing market with a sleek technology platform that creates a win-win situation. The travel agencies can offer an added-value service that will increase their bookings and travelers will now have additional options for their travel.”

Contact:

Annette Brünger
ucandoo GmbH
+49 (0) 163 3345100
www.ucandoo.de

About bm|t:

bm|t beteiligungsmanagement thüringen gmbh currently manages eight investment funds with a volume of 320 Mio. EUR. As the universal investment company for the federal state of Thuringia, bm|t invests in innovative companies across all sectors and stages, from seed investments in startups to growth equity and mezzanine funding for established companies to succession investments such as MBOs and MBIs. The company´s mission is to strengthen Thuringia´s economy while generating positive investment results through targeted investments in innovative growth companies with high potential. In addition to capital, bm|t brings a wealth of experience and a strong network to its investee-partners.

www.bm-t.de

 

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