Mercer Advisors Acquires Traust Sollus Wealth Management

Largest RIA Acquisition Expands Mercer’s Presence in the Northeast And Deepens Firm’s Tax Expertise

DENVER, March 5, 2018 – Mercer Advisors Inc. (“Mercer Advisors”), a national Registered Investment Advisor (RIA), today announced its largest RIA firm integration to date with the acquisition of Traust Sollus Wealth Management (“TS”), a boutique wealth management firm emphasizing sophisticated financial planning, investment management and tax planning strategies for high net worth individuals.

The addition of Traust Sollus’ New York City and Princeton, NJ offices deepens Mercer’s footprint in the Northeast, brings Mercer’s total offices to 29 and, with $420 million of Assets Under Management (AUM), increases Mercer’s AUM to over $12 billion.

Traust Sollus was founded in 1982 as a CPA firm before transitioning to a RIA by Al Zdenek, Jr., TS’s President and Chief Executive Officer.  TS today provides a family office suite of services to its high net worth and ultra-high net worth clientele, and prepares over 650 tax returns each year on behalf of clients.  In addition to Mr. Zdenek, the senior management team consists of Richard Weyers, COO & CCO, and Brian Picariello, Head of Wealth Management, and their 26-person staff, will join Mercer.

Dave Welling Chief Executive Officer of Mercer Advisors, said, “This acquisition not only deepens our footprint in the Northeast but more importantly allows us to greatly expand key components of our family office suite of services.  The addition of the consequential executive talents that Al, Rick, and Brian bring to Mercer further deepens our executive bench and adds decades of wealth management experience to our organization.” Added Welling, “We are also thrilled to be expanding the scale and expertise of our tax practice through the addition of Traust Sollus’ tax team.”

Commenting on the transaction, Mr. Zdenek, said, “For more than 35 years Traust Sollus Wealth Management has partnered with clients to ensure they are always making the best financial decisions and living the life they want now and in the future – we take pride in positively transforming lives! In Mercer Advisors, we have found a partner that is as passionate and dedicated in delivering top-notch service and ensuring clients achieve their personal and financial goals.  With a deeply talented staff, a high-touch service and can-do attitude in work, along with shared values and culture, it was an easy decision to partner with Mercer.  We are thrilled to bring two leaders in the wealth management industry together and enthusiastically look forward to working together to create the premiere wealth advisory company in the nation.”

Mercer Vice Chairman David Barton, who leads the company’s M&A activity, said, “There are only a few RIA’s in the U.S. that have a footprint like ours, and we are going deeper in markets where we already are, particularly in strategic locations like New York.  Our high touch, high service, Family Office business model requires both a local presence and multi-disciplinary professionals to service the complex needs of our HNW and UHNW clients.  You cannot deliver Mayo Clinic style financial care from a single location to clients located far away just as a hospital in Columbus, OH cannot treat a patient in Princeton, NJ.”

Silver Lane Advisors LLC served as financial advisor to Traust Sollus Wealth Management.

About Mercer Advisors

Established in 1985, Mercer Advisors Inc. is a total wealth management firm that provides comprehensive, fee-only investment management, financial planning, family office services, retirement benefits and distribution planning, estate and tax planning, asset protection expertise, and corporate trustee and trust administration services. Mercer Advisors is the parent company of Mercer Global Advisors, one of the largest Registered Investment Advisors and financial planning firms in the U.S. with over $12 billion in client assets and approximately 8,000 clients. Headquartered in Denver, Mercer Advisors is privately held, has over 200 employees, and operates nationally through 29 branch offices across the country. For more information, visit www.merceradvisors.com.

Data as of February 1, 2018. AUM includes affiliates and wholly owned subsidiaries.

###

MEDIA INQUIRIES:

Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334

Categories: News

Tags:

PwC Sweden sells Business Services division to IK Investment Partners – Creating exciting opportunities for developed services to small and medium-sized enterprises

ik-investment-partners

IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK VIII Fund has reached an agreement with PwC Sweden (“PwC”) to acquire its business services division for accounting, payroll and related advisory services (“Business Services”). Business Services will continue to operate under a new brand which will be developed during the upcoming months.

Business Services is the market leader in accounting, payroll and related advisory services with 71 offices and approximately 1,100 employees across Sweden. Business Services, which operates as a separate division within PwC, supports over 27,000 small and medium-sized enterprises (SMEs). Business Services had a turnover of more than SEK 950 million in 2017, and has shown annual growth of 8% the last three years.

“We are impressed by Business Services’s digital offering through the business platform MyBusiness, the strong corporate culture and customer focus as well as the experienced management team. Operating on a market characterised by growth and high fragmentation, Business Services, with its leading position, is in a strong position to capitalise on the market opportunities presented. Together with Business Services’s partner group, which are also participating in the acquisition as shareholders, we believe that through our active ownership model, we can help the organisation to further strengthen its long-term prospects,” says Alireza Etemad, Partner at IK Investment Partners.

“We have taken the strategic decision to focus on our audit, tax and advisory activities and will make a major investment in the segment for small and medium-sized customers. For these customers, we will provide a much broader portfolio of audit, tax and advisory services. At the same time, we look forward to a continued close collaboration with Business Services through their developed market offering to the benefit of our joint customers. It was very important for us to find a buyer with the right ambition, skills and financial strength, all of which we found in IK Investment Partners,” says Peter Nyllinge, CEO of PwC Sweden.

“Our passion is to help Swedish small and medium-sized enterprises grow by letting them focus entirely on their core business. The separation from PwC means that we can offer a wider selection of services to many more companies, that for regulatory reasons we were prevented from assisting earlier. Our focus on the development of digital services, including a new version of MyBusiness which will be launched later this year, together with IK’s solid experience to support growing companies and continued close collaboration with PwC, creates exciting opportunities for us and our customers alike,” explains Magnus Eriksson, CEO of Business Services.

The terms of the transaction were not disclosed. The transaction is subject to customary approvals, including concluded negotiations with relevant trade unions

For further questions, please contact:

IK Investment Partners
Alireza Etemad, Partner
Phone: +46 8 678 95 24

Mikaela Hedborg, Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

PwC
Peter Nyllinge, CEO PwC Sweden
Phone: +46 709 29 30 60

Magnus Eriksson, CEO, Business Services
Phone: +46 709 29 11 25

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9 billion of capital and invested in over 115 European companies. IK funds support 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

About PwC Sweden
At PwC, our purpose is to build trust in society and solve important problems. In Sweden, we are market leading in assurance, accounting, advisory and tax services. After the divestment of Business Services, we will be approximately 3,000 employees at offices all around Sweden. We’re part of a network of firms in 158 countries with more than 236,000 people who are committed to delivering quality in assurance, advisory and tax services. For more information, visit www.pwc.se/en

 

Categories: News

Tags:

Fintech company Zervant raises €6 million funding

Tesi

Finnish fintech company Zervant, which provides online invoicing software for small business and entrepreneurs across Europe, has announced €6 million in funding. The investment was led by Tesi, along with Northzone, NFT Ventures and Conor Venture Partners.

Headquartered in Espoo, Finland, Zervant offers simple, intuitive invoicing software. It’s already used by 20,000 business customers across seven countries, with 85% of current growth coming from France, Germany and the UK.

The company plans to use the investment to grow the use of electronic invoicing among its core demographic – micro businesses. It will also look to introduce a range of premium features for users, designed to ease the financial pressures that come with running your own business.

“We founded our company to ‘help entrepreneurs succeed’, and that is still what drives us day in, day out. This investment will help us to grow even faster across Europe, and help micro enterprises to benefit from the market shift driven by legislation. We’re also looking forward to offering them new solutions that will speed up their invoicing cash flow”, says Mattias Hansson, Zervant co-founder and CEO.

The focus on electronic invoicing is particularly relevant, given that the EU has issued a directive on the matter, which comes into force this year, and aims to make electronic invoicing the main form of invoicing in Europe by 2020.

“Regulatory changes in the financial space, along with the widespread switch to digital, present entrepreneurs with a whole new set of possibilities for running their businesses more efficiently. It’s our goal to make sure that they have access to all this potential – be it by helping with access to finance or helping our customers make smarter business decisions”, Hansson adds.

As a part of the financing round Niklas Savander will also join Zervant’s board. Niklas has over 20 years of experience as an executive in global technology companies, and expert knowledge within the financial sector. “Zervant’s offering is unique, and has huge market potential. I’m very excited to be joining their team”, says Savander.

Jussi Sainiemi, Investment Director at Tesi, comments that “Zervant has shown very impressive growth by tripling its active customer base to 20,000 businesses during 2017. Zervant’s service is widely considered to be the technology leader in the field of digital invoicing for SMEs. We are particularly excited about the company, as it is our first investment in the fintech sector”.

For more information:
Mattias Hansson, CEO, Zervant
+358 45 267 3007
mattias.hansson@zervant.com

Jussi Sainiemi, Investment Director, Tesi
+358 40 564 4660
jussi.sainiemi@tesi.fi

About Zervant
Zervant provides simple online invoicing for small businesses across Europe. Its core markets are France, Germany, the UK, Finland and Sweden. Headquartered in Espoo, Finland, Zervant was founded in 2010 and has raised over 14 million Euros of venture capital and angel funding. In 2017 1,000,000 invoices were sent using Zervant, with a face value of €1 billion www.zervant.com

About Tesi
Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal-flow in Finland. Our investments under management total 1 billion Euros and we have altogether 723 companies in portfolio. www.tesi.fi / @TesiFII

Categories: News

Tags:

Gimv obtains majority interest in specialised staffing agency IMPACT and project sourcing organisation Nova Engineering

GIMV

Gimv acquires a controlling interest in the specialised and fast-growing Belgian staffing agency IMPACT and Nova Engineering. This transaction reflects the group’s move towards autonomy and the desire to further increase its office network, as well as a potential international expansion. Central to IMPACT’s growth strategy are its proximity, a personal approach and a focus on specialised technical, construction and office positions for mid-sized growth companies. Gimv will acquire a majority stake alongside the management.

IMPACT (www.impact.be) was founded in 1999 and was owned by the Dutch Humares Group since 2006. As a provider of professional services, the group focuses primarily on technical and construction jobs as well as bottleneck functions in the administrative segment. Clients are typically industrial firms whose ambitious plans require a modern HR policy with a mix of solutions (specialised technical profiles, appropriate training, digitalisation). IMPACT and Nova act as focused partners providing them with the right people, recruiting both locally and internationally. With a focus on quality and their recruiters’ technical roots, IMPACT and Nova provide a competitive edge. The company currently has 17 locations (mainly in business parks) and 100 employees realising a turnover of EUR 67 million (2017). With the aid of a well-defined expansion strategy, the company aims to almost double its turnover over the next five years.

Our past course, specialising in technology, construction and office jobs, has clearly proved itself very successful. The human dimension of our company, the commitment of our teams in combination with our quality approach and focus enables us to find the right candidates, either in Belgium or abroad. The partnership with Gimv will provide us with the autonomy and means to realize our ambition to be recognized as the leading technical player, both in Belgium and abroad,” says IMPACT CEO Eric Dantinne.

Dirk Dewals, Head of Gimv’s Connected Consumer team, on this transaction: “In our portfolio we are consistently confronted with the need for specialist staff at innovative, export-oriented growth companies. IMPACT fills this gap by focusing specifically on this segment, with personal proximity and relevant sector expertise, thereby accommodating the growth of its mid-market clients.” 

He adds: “For us, as Connected Consumer team, it was equally important to notice IMPACT’s differentiation towards the candidate workers. Nowadays potential employees do not expect a long list of generic vacancies; they want tailor-made advice. This advice should consider their individual skills, values and aspirations, both short and long-term, including the possibility of permanent employment. Needless to state that we are very pleased that IMPACT’s management team has chosen to partner with Gimv for their next growth phase. We aim to support IMPACT’s ambitious expansion plans by leveraging our prior experience with the temping sector and digital service models.”

The transaction is subject to customary closing conditions, including approval by the competition authorities. No further financial details on the transaction will be announced.

Categories: News

Tags:

Ardian acquires a minority stake in SFAM

Ardian

7 February 2018, Paris – Ardian, a world-leading private investment house, today announces that it is acquiring a stake in SFAM, the leading European broker of smartphone and multimedia insurance. In addition, ICG, the specialist asset manager, is underwriting a bond issue, while Winch Capital 3, managed by Edmond de Rothschild Investment Partners (EdRIP), a shareholder of SFAM since 2016, is selling a portion of its stake.

Founded in 1999 by Sadri Fegaier, SFAM is a major European player in the distribution of extended warranty products, specialising in particular in the fast-growing portable products market. SFAM designs, sells, and manages a line of premium insurance products for mobile phones and multimedia devices with extended warranties. With 1,300 employees, SFAM expects to achieve €500 million in gross sales in 2018.

SFAM is aiming to continue its rapid growth (+2,500% in five years) and accelerate its entry into international markets. SFAM already has operations in France, Belgium, Spain, and Switzerland and is considering expanding into Portugal, the Netherlands, and Italy. SFAM also intends to continue diversifying its insurance services for portable and multimedia products and its cash-back programmes, and will launch a new online service in 2018, under the brand Hubside.

Sadri Fegaier, Founding Chairman of SFAM, said: ”We are thrilled to welcome Ardian as a shareholder of our company and for them to accompany us as we enter a new phase in our development. Having this high-value partner is important as it provides the company with both financial and human resources so that we can continue our rapid growth. We will continue to focus on maintaining the satisfaction of our distributor partners, insurers and customers, while also looking into opportunities for external growth.”

Yann Bak, Managing Director at Ardian Buyout, added: “SFAM’s exponential growth is remarkable and we are looking forward to being able to support the company as it continues along this path. SFAM has a unique position thanks to its great capacity for innovation, its operational excellence, and the quality of its services. We would like to thank Sadri Fegaier and his team for their confidence in Ardian.”

Sylvain Charignon, Partner at EdRIP, added: “Since our investment in January 2016, SFAM has significantly developed its business, combining strong strategic vision and impressive quality of execution. We wanted to thank Sadri Fegaier for this successful pace and to welcome Ardian, which will contribute to the long-term development of the Group.”

 

ABOUT SFAM

SFAM, founded in 1999 and based in Romans-sur-Isère (France), is the European leading broker in smartphone and multimedia insurances. SFAM began its activity by marketing its insurance products from its own sales points. In 2010, SFAM launched its products on the national market and became the first broker to offer an all risk insurance (covering all causes of loss and breakage) combined with a smartphone recycling service. By relying on its motivated and loyal staff, all experts in their own fields, SFAM proved to be a real success with over 4 million customers and 2,500 partners in Europe. Drawing on its extensive experience in insurance distribution, the SFAM Group has expanded its activity in Europe while innovating its insurance products and additional services and the recycling of technical products. SFAM is also present in Belgium, Switzerland and Spain.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$66bn managed or advised in Europe, North America 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 480 employees working from twelve offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore). It manages funds on behalf of 650 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

Categories: News

Tags:

Clarion Events completes merger with Global Sources

Blackstone

February 1, 2018 – London based Clarion Events, one of the world’s leading independent events organisers, has completed a merger with Global Sources, a leading Asian exhibitions and online B2B marketplace operator based in Hong Kong. Funds managed by Blackstone will control the combined group. Terms of the transaction were not disclosed.

Combining both market-leaders will create one of the largest privately-owned exhibitions businesses globally, with substantial scale across Asia, Europe and North America, organising 200 events per year and generating more than £300m of Revenues. The combined group will be led by the existing Clarion management team under Chief Executive Officer Russell Wilcox and Chairman Simon Kimble. The new group will continue to operate under the name Clarion Events, with the Global Sources brand identity retained in the Asian region.

Commenting on the announcement, Russell Wilcox, CEO of Clarion Events, said: “This merger marks an important milestone for both companies as we embark on an exciting new chapter. With the support of Blackstone, the new Group is well positioned to take advantage of our combined scale and global platform. We look forward to working with the Global Sources management, and believe that the remarkable expertise and capability of the combined company offers a very strong opportunity for future growth.”

Lionel Assant, Head of European Private Equity at Blackstone, added: “We are very excited by the merger. There is significant opportunity in the events space globally and this is a perfect strategic fit driven by tremendous growth potential.”

About Clarion Events 
Clarion is one of the world’s leading events organisers, producing and delivering innovative and market-leading events since 1947. In more recent times the firm has grown into a truly international business, with a portfolio of events and media brands across a range of vertical markets. Our 1000 employees based in our 13 offices worldwide specialise in delivering first class marketing, networking, and information solutions in high value sectors, both in mature and emerging geographies.

About Global Sources 
Global Sources is a leading regional exhibitions and online B2B marketplace operator based in Hong Kong. The Company operates 8 semi-annual export-oriented sourcing exhibitions in Hong Kong, including the largest electronics and mobile electronics shows in the world, as well as an annual machinery show in China. Collectively, the Company’s exhibitions host over 10,000 exhibitors and 200,000 attendees each year and its B2B marketplace, GlobalSources.com, serves a community of more than 1.5 million professional buyers worldwide

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $385 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Media Contact:

Blackstone
Andrew Dowler/Rebecca Flower
+44 (0) 207 451 4005
+44 (0) 7918 360 372
Andrew.Dowler@Blackstone.com

Categories: News

Tags:

Blackstone-Led Consortium Announces Partnership Agreement with Thomson Reuters for Financial & Risk Business

Blackstone

New York, January, 30, 2018 – A consortium led by Blackstone (NYSE: BX) today announced that private equity funds managed by Blackstone (“Blackstone”) – together with Canada Pension Plan Investment Board (“CPPIB”) and GIC – have entered into a partnership agreement with Thomson Reuters (TSX / NYSE: TRI) for Thomson Reuters’ Financial & Risk (F&R) business. Under the partnership agreement, the Blackstone-led consortium will own 55 percent of the equity in a new corporation created to hold the F&R business and Thomson Reuters will retain a 45 percent equity stake, at an overall valuation of US$20 billion.

Thomson Reuters F&R is a world-leading data and financial technology platform that provides critical information and data analytics, enables financial transactions, and connects communities of trading, investment, financial and corporate professionals. It also provides leading regulatory and risk management solutions to help customers anticipate and manage risk and compliance.

Martin Brand, a Senior Managing Director at Blackstone, said: “We are excited to partner with Thomson Reuters – one of the most trusted companies in financial technology. The F&R division has tremendous assets, including a world-leading data business, essential risk and compliance solutions, OTC trading venues, wealth management software, and a strong desktop business. The partnership with Blackstone provides an opportunity to increase efficiency and accelerate revenue growth through innovation and focus on creating uniquely compelling products for F&R’s customers.”

Joe Baratta, Blackstone’s Global Head of Private Equity, said: “We are delighted to partner with Thomson Reuters in continuing to grow the Financial and Risk business. This is a landmark transaction for Blackstone and our investment partners.”

Ryan Selwood, Managing Director & Head of Direct Private Equity, CPPIB, said: “This investment in F&R will broaden our portfolio in the growing financial technology space. We are very pleased to support the evolution of a global market leader.”

Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC, said: “As a long-term value investor, we believe this business transformation will enable F&R to focus on its core customer base and be in a strong position to continue delivering innovative products to the market.”

Reuters News will continue to remain a part of Thomson Reuters and will not be included in the assets being acquired. The new F&R will enter into a 30-year contract for the exclusive rights to distribute Reuters News through all F&R products. Reuters News will continue to have complete editorial independence from F&R and Thomson Reuters, as it does today.

Canson Capital Partners, BofA Merrill Lynch, Citigroup, and J.P. Morgan are acting as financial advisors to the Blackstone-led consortium, and Simpson Thacher & Bartlett LLP is acting as legal counsel to the Blackstone-led consortium. Debt financing related to the transaction is being provided by J.P. Morgan, BofA Merrill Lynch, and Citigroup. Dechert LLP is acting as legal counsel to GIC.

Matteo Canonaco, co-founder of Canson Capital Partners, said: “We are delighted to advise the Blackstone-led consortium on a transaction that epitomizes the positive role that private equity can play by teaming up with major corporations and enabling them to achieve mission-critical strategic objectives.”

The transaction is expected to close in the second half of 2018.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $385 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About CPPIB
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 20 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, São Paulo and Sydney, CPPIB is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At September 30, 2017, the CPP Fund totalled C$328.2 billion. For more information about CPPIB, please visit www.cppib.com or follow us on LinkedIn, Facebook or Twitter.

About GIC
GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. In private equity, GIC invests through funds as well as directly in companies, partnering with its fund managers and management teams to help world class businesses achieve their objectives. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,400 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg.

About Thomson Reuters
Thomson Reuters is the world’s leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. For more information, visit www.thomsonreuters.com or www.tr.com.

Blackstone Media Contact
Matt Anderson
Senior Vice President, Global Public Affairs
T: 212 390 2472
matthew.anderson@blackstone.com

CPPIB Media Contacts

Mei Mavin
Director, Global Corporate Communications
T: +44 203 205 3406
mmavin@cppib.com

Dan Madge
Senior Manager, Media Relations
T: +1 416 868 8629
dmadge@cppib.com

GIC Media Contacts

Ms Mah Lay Choon
Senior Vice President, Communications
T: +65 6889 6841
mahlaychoon@gic.com.sg

Ms Wendy Wong
Senior Vice President, Communications
T: +65 6889 6928
wendywong@gic.com.sg 

 

Categories: News

Tags:

FCG, Nordic risk and compliance services provider, to partner with Bridgepoint Development Capital

Bridgepoint

FCG Holding Sverige AB (‘FCG’ or the ‘Company’), a high growth, market-leading provider of specialist risk and compliance services to the financial sector, will partner with Bridgepoint Development Capital (‘BDC’) where BDC will acquire a significant shareholding in FCG and provide the resources to allow it to realise its expansion plans. The value of the transaction is not disclosed.

Established in Stockholm in 2008, FCG is the leading Nordic specialist service provider of Governance, Risk and Compliance (GRC) services, primarily focused on the financial sector. The Company offers expertise in the form of consultancy services, outsourcing and fund administration from operations in Stockholm, Malmö, Copenhagen and Oslo.

“We are pleased to welcome Bridgepoint Development Capital as a new owner and partner to FCG. They will add additional business competence, experience from scaling medium-sized businesses, a pan-European network and financial strength, which will allow FCG to continue its growth strategy in the Nordic region and beyond” says Kristian Bentzer, Managing Partner of FCG.

Johan Dahlfors, the partner responsible for Bridgepoint Development Capital’s investment activities in the Nordic region commented “We are very impressed with the progress that FCG has achieved to-date. FCG has built a leading position in the Nordic region, based on high-quality services, passionate and competent employees and a broad service portfolio catering to the needs of the entire financial industry in an increasingly complex regulatory landscape. FCG has ambitious plans and we look forward to partnering with current owners and the Company to develop the business further.”

Given the depth and breadth of competencies required to ensure internal control and compliance with financial regulations, many financial institutions are increasingly seeking external support from specialist service providers. This has resulted in the European market for GRC services experiencing double digit growth over recent years, which is expected to continue, driven by an increasingly complex regulatory landscape.

On the back of strong market demand, and with the successful launch of new service concepts and long-term embedded customer relationships, FCG has grown rapidly over the past years to become the largest dedicated GRC team across the Nordic region. Its high level of competence and expertise of regulatory frameworks, combined with a partnership philosophy towards customers and a highly motivated management team, has allowed FCG to grow the customer base across all sizes and segments of the financial industry.

Under the new ownership, FCG will continue to build on its position as the leading specialist service provider of GRC services to the financial sector, in current as well as in new geographies.

The transaction is subject to approval by the Swedish Financial Supervisory Authority.

Advisors involved in the transaction included:

– For FCG: Keystone MCF Corporate Finance (financial), Andulf (legal)

– For BDC: Vinge (legal), KPMG (financial, tax, pensions), Arkwright (commercial), Marsh (insurance)

Categories: News

Tags:

Kanalservice Holding acquires Jeschke Umwelttechnik GmbH

Ufenau

At the beginning of the new year,we are pleased to announce that Kanalservice Gruppe has successfully acquired Jeschke Umwelttechnik GmbH. Jeschke Umwelttechnik is headquartered in Stutensee close to Karlsruhe, Germany, and has more than 30 highly trained employees in the field of sewer renovation. Jeschke Umwelttechnik has a unique expertise in the installation cured-in-place pipe liners and is a full -service provider in this field.

In recent years, the company has established itself as a leading player in the sewer renovation segment for public-sector customers in southwestern Germany. The cured-in-place pipe lining process is a common method for trenchless rehabilitation of buried, non-pressurized drainage networks, such as the sewer system. In the process, a fiberglass hose (tube liner) impregnated with synthetic resin is drawn into a tube and then cured by UV light. Kanalservice Gruppe, with headquarters in Switzerland, is the owner of Mökah Gruppe that offers sewer cleaning, inspection, renovation as well as suction and surface cleaning services with 170 employees.

“I am very happy that I found the ideal partner in Kanalservice Gruppe to further grow the company organically as well as for acquisitions. I am convinced that the acquisition lays the foundation for a successful, long-term collaboration. I am looking forward to the execution of our growth strategy in the coming years” says Steffen Jeschke, CEO and owner of Jeschke Umwelttechnik.

“We are delighted, that with Mr. Jeschke and his team we found proven experts in the cured-in-place pipe lining segment in southwestern Germany as a strategic addition to Kanalservice Gruppe.

Mr. Jeschke will continue his successful work as CEO of Jeschke Umwelttechnik and we are happy to welcome him as a shareholder of the group ”adds Ralf Flore, Managing Partner at Ufenau Capital Partners.

Sincerely, your Ufenau Team

 

About Ufenau Capital Partners

Ufenau Capital Partners is a privately owned Swiss Investor Group headquartered at the Lake Zurich which advises private investors, family offices and institutional investors with their investments in private equity. Ufenau Capital Partners is focused on investments in service companies in German – speaking Europe and invests in the Education & Lifestyle, Business Services, Health Care and Financial Services sectors. Through a renowned Group of experienced Industry Partners (Owners, CEOs, CFOs), Ufenau Capital Partners pursues an active value-adding investment approach on eye-level with entrepreneurs and managers.

Categories: News

Tags:

Hg announces investment in MeinAuto.de

HG Capital

Hg has announced today an investment in MeinAuto.de (‘MeinAuto’), a leading B2C online platform for new car purchases based in Germany. The terms of the transaction were not disclosed.

MeinAuto was founded in 2007 and is headquartered in Cologne with over 70 employees. The Company is one of Germany‘s leading online platforms for new car sales with over 16 million visitors per year and more than 9,000 dealers connected.

The investment is the first step in an initiative by Hg to develop a new integrated and technology enabled service provider in the automotive distribution & financing space. This initiative is the result of considerable sector work undertaken by Hg in recent years in the automotive services and software spaces, including prior investments in Zenith (vehicle leasing services), Epyx (an electronic network serving vehicle fleet operators and repair shops), Eucon (a platform for automotive parts pricing data) and Parts Alliance (a buying group and distribution network for after-market car parts).

Justin von Simson, Managing Partner and Head of the Munich Office at Hg, said: “We are delighted to partner with the management team of MeinAuto who have worked tirelessly over the last ten years to make the platform a true champion in the online automotive distribution space. As the online channel is gaining more and more importance for car distribution, we are excited about the opportunities that lie ahead for the business and together with the management team look forward to taking the platform to the next level of its evolution.”

Florian Wolff, Director at Hg, commented: “The automotive distribution sector is experiencing a fundamental change. We believe this creates a strong opportunity for MeinAuto given its clear and differentiated value proposition which has allowed the business to build a strong position in the sector. Hg firmly believes in the potential of MeinAuto to leverage its value proposition to further develop and grow the platform in the future. The investment is a perfect example for our approach in partnering with strong entrepreneurs and backing them to scale high-quality technology businesses.”

Alexander Bugge, Founder and Co-CEO at MeinAuto said: “In Hg we have found the right partner to take our company forward to its next level of development. Hg has deep sector knowledge and an excellent track record of building strong sustainable platforms.”

Thomas Eichenberg, Co-CEO at MeinAuto added: “We are confident that, together with Hg, we will be able to provide even better experience to our customers and further expand our offering.”