Unit4 Announces Strategic Growth Buyout by TA Associates for a Transaction Value in Excess of US$2 Billion

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TA associates

Partnership with TA will accelerate Unit4’s global growth ambitions, both organically through cloud-based product innovation and through M&A to unlock new markets and industries

LONDON – Unit4, a global leader in enterprise cloud software for people-centric organizations, today announced it has signed a definitive agreement to receive a majority investment from TA Associates, a leading global growth private equity firm. Partners Group, a leading global private markets firm, will invest alongside TA, on behalf of its clients. Mike Ettling, CEO of Unit4, will continue to lead the company, supported by the existing management team. Advent International, the current majority shareholder in Unit4, will exit its stake in the company.

Unit4 and TA will partner to further accelerate the company’s vision of “people-centric ERP” (Enterprise Resource Planning) for mid-market enterprise organizations. As a leader that innovates for and serves people-based services industries including professional services, public sector, nonprofit and higher education, this partnership with TA will help Unit4 address the specific challenges and requirements of organizations in these industries globally.

“Our partnership with TA and Partners Group couldn’t come at a better time. With the launch of ERPx, our next generation cloud-native ERP platform, expansion of our global partner ecosystem, the creation of a strong and viable customer community with Community 4U, and deeper “people” investment in our core and growth markets, Unit4 is poised to see dramatic growth through this next phase of our journey,” said Mike Ettling, CEO of Unit4. “Our customers have expressed a need for rapid innovation, not just efficiencies, to support their growth aspirations while continuing to navigate the headwinds of the global pandemic. We believe our game-changing software and people-first, services-based mindset will help our customers thrive as the market begins to regain its momentum.”

“We have followed Unit4 for many years and have been impressed with the company’s growth and dedication, under Mike’s leadership, to serving mid-market, people-centric organizations, which aligns well with our investment philosophy,” said Morgan Seigler, a Managing Director of TA and co-head of TA’s Europe Technology Group. “We are excited to partner with Mike and the Unit4 team in the next phase of their journey and to help them invest in and deliver industry-relevant enterprise solutions that drive retention, expansion and growth in organizations across the globe.”

“Unit4 is a high-quality software solutions business with strong fundamentals and significant potential for transformative growth. TA is a firm we know very well, and we are delighted to partner with them on acquiring this exciting business,” added Bilge Ogut, Partner, Global Head Private Equity Technology, Partners Group.

The transaction is expected to close in early summer of 2021 pending customary regulatory approvals and closing conditions.

Arma Partners and Evercore are serving as financial advisors and De Brauw Blackstone Westbroek is acting as legal counsel to Unit4. Alvarez & Marsal is serving as financial and tax advisor, and Kirkland & Ellis is acting as legal counsel to TA Associates.

About Unit4
Unit4’s next-generation enterprise solutions power many of the world’s most people-focused mid-market services organizations. Our cloud ERP, HCM and FP&A applications transform work to be more meaningful and inspiring through software that’s self-driving, adaptive and intuitive, intelligently automating administrative tasks while providing easy access to the answers people need. Unit4 serves more than 6,000 customers in industries including professional services, public sector, nonprofit, and education. For more information please visit www.unit4.com, follow us on Twitter @Unit4global, or visit our LinkedIn page.

About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.

About Partners Group
Partners Group is a leading global private markets investment manager. Since 1996, the firm has invested over USD 145 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group is a committed, responsible investor and aims to create broad stakeholder impact through its active ownership and development of growing businesses, attractive real estate and essential infrastructure. With over USD 109 billion in assets under management as of 31 December 2020, Partners Group serves a broad range of institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.

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TA Associates Makes a $100 Million Strategic Investment in Appfire to Partner With Silversmith Capital Partners to Accelerate Company’s Growth

TA associates

Leader in Atlassian Ecosystem Secures Growth Stage Financing to Support Continued Expansion and Accelerate the Broad Adoption of its Digital Transformation Apps

BOSTON, MA – Appfire, a leading provider of apps that help teams solve modern challenges with digital solutions, today announced that it has received a $100 million investment from TA Associates, a leading global growth private equity firm. With this investment, Appfire intends to continue its leadership within the Atlassian ecosystem with more than 85 purpose-built products on the Atlassian Marketplace and over 110,000 active installations worldwide.

TA’s investment in Appfire comes on the heels of a $49 million strategic investment from Silversmith Capital Partners in May 2020. Since Silversmith’s investment, Appfire has made six acquisitions within the Atlassian ecosystem—Artemis, Beecom, Bolo, Botron, Innovalog and Navarambh—significantly expanding the company’s footprint.

“TA’s commitment to growth and innovation aligns with our passion for helping teams everywhere drive efficiency and productivity,” said Randall Ward, CEO of Appfire. “We believe this investment is a testament to Appfire’s outstanding team and a clear validation of our vision, strategy and execution. We are excited to continue our partnership with Silversmith and welcome TA as a strategic growth partner.”

Founded in 2005 as a professional services company, Appfire was one of the first Atlassian partners and transitioned to a product company in 2013. The Appfire team has developed domain expertise in creating, launching and distributing apps through the Atlassian Marketplace. The company’s growing portfolio of apps empowers teams worldwide with workflow automation, business intelligence, publishing and administrative tools, at companies, including Google, Amazon and Starbucks.

“We are thrilled to complete this strategic investment in Appfire and to support Randall and his team in the next stage of the company’s evolution,” said Michael Libert, a principal at TA Associates, and Hythem El-Nazer, a managing director at TA Associates. “We look forward to working closely with the Appfire and Silversmith teams in driving organic growth, leveraging the company’s robust M&A platform and supporting Atlassian’s goal of having best-of-breed products.”

“Since our investment a year ago, Appfire’s exceptional team, unique culture and strong products have helped leading companies around the world navigate an accelerated need for digital-first, cloud-native solutions. Customers leverage Appfire’s workflow automation, data integration, administration and reporting apps to do their best work,” said Sri Rao, general partner, Silversmith Capital Partners. “We are thrilled to partner with Hythem, Michael and the TA team as Appfire enters an exciting next phase of evolution.”

As part of the investment, Michael Libert and Hythem El-Nazer of TA have joined Appfire’s Board of Directors.

“Appfire is a great example of the incredible innovation occurring in the Atlassian marketplace and how our ecosystem can provide customers with the tools and technologies they need to unleash the potential of every team,” said Martin Musierowicz, head of channel, Atlassian. “Appfire continues to deliver great capabilities for our customers, and we’re excited to support their continued growth.”

Kirkland & Ellis LLP served as legal counsel to Appfire and TA Associates. Baird served as the exclusive financial advisor to Appfire.

About Appfire
Appfire is an award-winning Atlassian Platinum Marketplace Partner and has been a global authority in the Atlassian ecosystem for more than 15 years. Appfire’s popular Artemis, Beecom, Bob Swift, Bolo, Botron, Feed Three, Innovalog and Wittified product brands comprise the largest portfolio of apps on the Atlassian Marketplace with 85+ purpose-built products and over 110,000 active installations worldwide. Learn more at www.appfire.com.

About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.

About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $2.0 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Centauri Health Solutions, DistroKid, Impact, LifeStance Health, MediQuant, Panalgo, Unily, Validity, and Webflow. The partners have over 75 years of collective investing experience and have served on the boards of numerous successful growth companies including ABILITY Network, Archer Technologies, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Passport Health, SurveyMonkey, and Wrike. For more information about Silversmith, please visit www.silversmith.com.

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Questel signs the acquisition of NovumIP, supported by Eurazeo Capital, IK Investment Partners, and RAISE Investissement

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Questel, a global IP software and tech-enabled services leader offering an integrated end-to-end platform of software and services across the innovation lifecycle, has announced today the signing of the acquisition of NovumIP, a global intellectual property (IP) technology group comprised of PAVIS and Novagraaf, two European leaders, active in patents annuities and trademarks renewals.

The acquisition will enhance Questel’s presence in the IP value chain through a comprehensive offering delivering a full set of solutions for its global customers and also fully reflects Questel’s ambition to continuously enhance its value proposition for such customers. Integrating patent annuities with Questel’s existing range of solutions, notably its intellectual asset management platform, will be a step-change for customers seeking one convenient location to manage all of their IP activities.

Eurazeo Capital, IK Investment Partners and RAISE Investissement will invest to finance the acquisition of NovumIP. Following the transaction, Eurazeo and the IK IX Fund will each invest an incremental amount of approximately €150 million and together will continue to hold a majority stake in Questel, while Paragon Fund III, an affiliate of NovumIP’s majority shareholder, will invest and become a financial investor of Questel.

Definitive financial information will be disclosed once the transaction is completed. The completion of the transaction is subject to the definitive approval of the German Financial Supervisory Authority (BaFin) as well as the Competition Authorities.

This acquisition demonstrates the commitment of Eurazeo Capital, IK Investment Partners and RAISE Investissement to support the Questel management team as it continues to pursue its expansion strategy into the IP management value chain. This strategy is supported by strong organic growth and a dynamic acquisition strategy that has helped in the past and should prove paramount in allowing  Questel to continue extending its geographic footprint in the future, whilst also providing a differentiated end-to-end set of solutions for its clients.

The NovumIP transaction follows the recent acquisitions by Questel of innosabi, an innovation SaaS company based in Germany, and doeLEGAL, a US software business active in enterprise legal management. These acquisitions represent a great milestone in the Questel journey.

For further questions, please contact:

Eurazeo
Pierre Bernardin
Head of Investor Relations
pbernardin@eurazeo.com
Tel: +33 (0)1 44 15 16 76

Virginie Christnacht
Head of Communications
vchristnacht@eurazeo.com
Tel: +33 (0)1 44 15 76 44

IK Investment Partners
France:
CTCom
Sibylle Descamps
sibylle.descamps@ct-com.com
Tel: +33 (0) 6 82 09 70 07

International:
Maitland/AMO
James McFarlane
jmcfarlane@maitland.co.uk
Tel: +44 (0) 7584 142 665

RAISE Investissement
Charlotte Doyen
charlotte.doyen@raise.com
Tel: +33 674791846

About Eurazeo
Eurazeo is a leading global investment company, with a diversified portfolio of €18.8 billion in assets under management, including nearly €13.3 billion from third parties, invested in over 430 companies. With its considerable private equity, venture capital, real estate, and private debt, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt, Berlin and Madrid. Eurazeo is listed on Euronext Paris. ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €13 billion of capital and invested in over 145 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, please visit www.ikinvest.com

About RAISE Investissement
RAISE Investissement is a capital investment company set up by the RAISE group, founded by Clara Gaymard and Gonzague de Blignières. With €410 million of committed capital, the fund supports high growth medium-sized French companies that generate revenue of between €30 million and €500 million, by investing stakes of between €10 million and €50 million to help them grow. The RAISE group is built around a financing model that combines profitability with generosity as the investment teams (RAISE Investissement, RAISE REIM, RAISE Ventures, RAISE Impact and RAISE LAB) donate 50% of their earnings through the group profit sharing scheme to an internal endowment fund, RAISESHERPAS, which supports startups and helps them grow. This initiative, pioneering in France, creates a virtuous circle involving major corporations, institutional investors, medium-sized businesses and startups. For more information, visit www.raise.co/en/

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The Carlyle Group acquires disguise

Carlyle

Transaction to fuel disguise’s global growth as its cutting-edge technology looks to “reimagine storytelling”

London, UK, 8 March 2021 – Global investment firm The Carlyle Group (NASDAQ: CG) today announced it has acquired a majority stake in disguise, a leading provider of extended reality (xR) technology[1]. Terms of the transaction were not disclosed.

Headquartered in London, UK, disguise is a leading technology platform which enables creative and technical professionals to imagine, create and deliver spectacular live visual experiences. disguise specialises in combining real-time 3D visualisation-based software with high performance hardware. The company is one of the main providers of xR and virtual production technology to major entertainment providers, film & TV studios, broadcasters, corporates, and fixed installation companies globally.

Disguise’s technology has been instrumental in spearheading immersive content delivery for key projects like the 2020 MTV Video Music Awards and Eurosport’s US Open coverage, live performances from artists like Billie Eilish and Katy Perry, in-game concerts like J.Balvin in Fortnite, corporate presentations from Siemens and SAP, and on-set virtual production from notable VFX studios like Framestore and Orca Studios. Since June 2020, over 150 disguise xR stages have been built in more than 35 countries and disguise xR has powered over 200 shows.

The Carlyle Group will support disguise to capitalise on the significant market opportunity for virtual production technology, a trend that has only accelerated during the Covid-19 pandemic. Leveraging Carlyle’s well-established track record in growing media technology companies globally through investments such as The Mill and Foundry, Carlyle will seek to expand disguise’s customer base through access to Carlyle’s large portfolio of corporate customers as well as relationships with key content providers in the media services industry. The investment thesis is also predicated on disguise expanding its software offering and further geographic expansion. Equity for the investment was provided by Carlyle Europe Technology Partners (CETP) IV, a €1.35 billion fund that invests in small and middle market technology-focused opportunities in Europe and the US.

Disguise’s future growth will also be supported by Epic Games, who have taken a minority stake in the business in this transaction. This enhances the existing strong partnership between disguise and Epic’s Unreal Engine. Production companies and broadcasters are embracing the benefits of virtual production techniques, built on photorealistic real-time graphics engines such as Unreal Engine, and LED infrastructure for immersing presenters and performers in virtual environments.

Fernando Kufer, CEO of disguise, said: “Sitting at the forefront of innovation in xR technology, we’re proud of the journey we have been on with our customers and we’re looking forward to further consolidating our position as the global “platform of platforms” for the creation and delivery of content at any scale and location. We see huge potential for growth based on our leading technology platform and unique service offering. We are delighted to have the full support of The Carlyle Group, a firm with a strong track record of growing technology businesses, as we take disguise into the next chapter of its growth journey.”

Michael Wand, Managing Director and Co-Head of the CETP advisory team, said: “Given our history of investing in media technology, we are truly excited to partner with disguise – a player at the cutting edge of virtual media production. disguise has a world-class offering and a growing and impressive list of high-profile clients. The virtual production market is forecast to grow substantially, and we believe the company is uniquely placed to benefit from the accelerated demand for LED-based visual experiences and capture further market share. In partnering with the disguise management team, we will look to leverage our significant experience in scaling media technology companies as we support the company to become a global leader.”

ENDS

Press Enquiries:

disguise

Alexandra Coulson

Email: marketing@disguise.one

The Carlyle Group:

Andrew Kenny
Tel: +44 7816 176120
Email: Andrew.Kenny@Carlyle.com

About disguise

The disguise technology platform enables creative and technical professionals to imagine, create and deliver spectacular live visual experiences at the highest level.

Combining real-time 3D visualisation-based software with high performance hardware, disguise delivers challenging creative projects at scale and with confidence. Its new award-winning Extended Reality (xR) workflow is empowering users to bring to life immersive visual experiences that inspire and engage remote audiences everywhere.

disguise xR has already powered immersive real-time productions for music artists such as Katy Perry and Billie Eilish, enterprise businesses like SAP and Lenovo, educational institutions like the University of Michigan, broadcast TV shows like MTV Video Music Awards, commercial brands like Nike and Under Armour and many other virtual experiences in more than 35 countries. The business has a presence in the US, UK, Spain, UAE, Korea, Japan, Hong Kong, China and New Zealand.

With an ever increasing global partner network and working alongside the world’s most talented visual designers and technical teams in live events, TV broadcasts, films, concert touring, theatre, fixed installations and corporate and entertainment events, disguise is building the next generation of collaborative tools to help artists and technologists realise their vision.

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $246 billion of assets under management as of December 31, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs 1,825 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.

[1] Extended Reality is an umbrella term used to describe immersive technologies that can merge the physical and virtual worlds. It includes augmented reality (AR), virtual reality (VR) and mixed reality (MR) alongside others.

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EQT Private Equity to sell Innovyze

eqt
  • EQT Private Equity to sell Innovyze, a leading provider of water infrastructure software, to Autodesk (NASDAQ: ADSK) for an Enterprise Value of USD 1,000m
  • EQT supported Innovyze’s transformation into a leading global smart water infrastructure software provider through investments in strategic acquisitions, trailblazing new product development, and refined go-to-market capabilities

EQT is pleased to announce that EQT Private Equity, through the EQT Mid Market US fund, has agreed to sell Innovyze (“the Company”) to Autodesk (NASDAQ: ADSK) for an Enterprise Value of USD 1,000m.

Innovyze was established in 1996 to provide wet infrastructure software solutions. In 2017, Innovyze merged with XP Solutions to become the leading global provider of smart water infrastructure software solutions designed to meet the technological needs of water / wastewater utilities, government agencies and engineering organizations worldwide. As the largest pure-play water-focused software provider, Innovyze offers a full suite of water-focused products that span the infrastructure lifecycle. Innovyze is headquartered in Portland, Oregon and has offices in California, Colorado, Canada, the UK and Australia.

With the support of EQT, Innovyze transformed into a standalone global leader in the smart water infrastructure software space. Innovyze and XP Solutions were separately carved out from international public engineering companies by EQT and merged to form Innovyze. Since then, significant investments were made to build out the Company’s executive team and integrate the businesses. Together with management, EQT supported Innovyze in realigning the sales organization to serve the complex technical sales process and pivot to an enterprise selling approach. Substantial investments were also made in product development to strengthen the Company’s asset management solution and to extend the product portfolio into cutting-edge real-time operational analytics and artificial intelligence offerings.

Sydney Pardey, Director and Investment Advisor to EQT Private Equity, said: “Water is our most valuable resource and Innovyze’s product portfolio enables sustainable management of that asset, benefitting our local communities and global ecosystem. It has been exciting to work with the visionary management team, led by Colby Manwaring, to transform Innovyze into a global technology leader at the forefront of water software solutions.”

Arvindh Kumar, Partner and Investment Advisor to EQT Private Equity, said: “Innovyze embodies a successful EQT investment: transforming a market leader in a thematic sub-sector, with a positive sustainability footprint, into a future-proofed platform well-positioned for continued success. We thank Colby, the management team and the advisors in the EQT Network for their strategic vision and incredible execution.”

Colby Manwaring, Chief Executive Officer at Innovyze, said: “EQT has been a great partner and played a critical role in our journey by investing with a focus on the long-term potential for the business. We look forward to working with Autodesk to continue our successful growth and further our mission to empower water professionals around the world to design, manage, operate and maintain water infrastructure.”

The transaction is subject to customary conditions and approvals and is expected to close in March or April 2021.

UBS Investment Bank acted as financial advisor and Sidley Austin LLP acted as legal advisor to EQT Private Equity and Innovyze.

Contact
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 purpose-driven global investment organization with more than EUR 84 billion in raised capital and over EUR 52 billion in assets under management across 17 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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

About Innovyze
Innovyze is a global leader in building innovative, industry-leading software for the water industry for over 35 years; serving thousands of clients including the largest utilities, ENR design firms, consultancies and refining plants around the world.

More info: www.Innovyze.com

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Kempen European Private Equity Fund acquires a direct interest in software company Eque2

Kempen

Eque2 supplies business management software to more than 2,700 customers in the construction, housebuilding and contracting industries. Its software enables builders, contractors, architects, engineers and estimators to integrate the commercial and financial aspects of their business, driving efficiencies and ultimately improving profitability. Revenues have grown significantly over the last four years and it has proven to be exceptionally resilient during the Covid pandemic. The company continues to invest significantly in customer service and product development to allow customers to further integrate and mobilize the commercial and financial aspects of their business to drive efficiencies and ultimately improve profitability.

The transaction values Eque2 at £46.5m. Kempen co-invests in the management buyout together with its long-time UK investment partner WestBridge Capital and as a group they have a majority stake in the capital of the business, with the balance owned by the Eque2 management team. This is the 7th direct deal in the Kempen European Private Equity Fund and the second UK-focused deal for the Fund.

Sven Smeets, Managing Director Kempen Private Markets, comments: “Eque2 is a very attractive business. The management team is experienced with a proven track record and the company operates in a resilient market that is expected to grow strongly over the next few years as the UK emerges from the economic impact of Covid and Brexit. We are delighted to be able to back this highly experienced management team, who we are confident will successfully steer the business to its next level of growth.”

Edzard Potgieser, Director Kempen Private Markets, adds: “together with our partner WestBridge Capital, we are looking forward to supporting and helping drive further investments and growth in the Eque2 business in the years to come.”

Guy Davies, Managing Partner at WestBridge Capital, said: “We are pleased to report that with the support of our co-investor Kempen we have successfully closed the £46.5m management buyout of construction software company Eque2.  We are delighted that Kempen has chosen WestBridge as its UK private equity investment partner and that they are co-investing with us in Eque2. We look forward to working with Kempen and the Eque2 management team on this very exciting opportunity. We have worked together with Kempen for years on various other successful deals and we view the Kempen team as a partner in an alliance that offers room for professional, long term entrepreneurial investing.”

About Eque2
Eque2 is a specialized supplier of software for the construction industry. The company provides software to over 2,700 clients and employs over 150 staff in 4 offices in the UK.

About the Kempen
The Kempen European Private Equity Fund was launched at the start of 2019 and is a closed-end investment fund with a minimum duration of ten years. The fund focuses on the small and lower mid-sized segment of the European buy-out private equity market in five regions: the Benelux, the German-speaking countries, France, the United Kingdom and Scandinavia. The aim is to construct a broad investment portfolio over a period of three to five years by diversifying across the listed regions and a range of sectors. The reason for this is risk diversification.

As of February 2021, the portfolio already contained seven direct investments in companies and nine partnerships with local European investment partners that are well established in their respective regions. The fundraise for the Kempen European Private Equity Fund was successfully completed in 2019 on a total committed capital of € 192.5 million.The Kempen European Private Equity Fund has now been closed to new participants/entrants.

Disclaimer
The Kempen European Private Equity Fund (the Sub-Fund) is a sub-fund of Kempen Alternative Markets Fund SICAV-RAIF (the “Fund”), domiciled in Luxembourg. Kempen Capital Management N.V. (KCM) is the management company of the Fund. KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Sub-Fund is registered under the license of the Fund at the Netherlands Authority for the Financial Markets. 

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch and English) and the prospectus (available in English). These documents of the Fund are available on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The Subfonds is registered for offering in a limited number of countries. The countries where the subfund is registered can be found on the website.

The value of your investment may fluctuate. Past performance provides no guarantee for the future.

About Kempen Capital Management

Kempen Capital Management is a specialist asset manager with a focused approach and a clear investment philosophy. We believe in long-term stewardship for our clients and other stakeholders. Kempen provides sustainable returns, fiduciary management services, manager selection, portfolio construction and monitoring, alongside a number of actively-managed investment strategies. As of 30 June 2020, Kempen Capital Management had a total of €79.1 billion in client assets under management.

Kempen Capital Management, part of Van Lanschot Kempen Wealth Management NV, is a specialist and independent wealth manager. Kempen Capital Management NV is licensed as a manager of various UCITS and AIFs and authorised to provide investment services and as such is subject to supervision by the Netherlands Authority for the Financial Markets. Kempen Capital Management (UK) Ltd is licensed as a manager and subject to supervision by the Financial Conduct Authority.

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Cinven to invest in Drake Software

Cinven

Investment in leading tax preparation software provider

International private equity firm, Cinven, today announces that it has agreed to make a significant investment into Drake Software (‘Drake’ or ‘the company’), a provider of software for tax preparers. Financial details of the transaction are not being disclosed.

Headquartered in Franklin, North Carolina, Drake is a leading provider of professional tax preparation software. It provides the tools and resources that tax professionals need to build their businesses and attract new clients. Drake employs more than 600 people across five offices in North Carolina, Tennessee and Virginia. More than 64,000 tax professionals nationwide use Drake, and each year the company processes more than 33 million federal and state-accepted returns. The business was established in 1977 by founder Phil Drake.

Building on its successful investment in Visma, a provider of Enterprise Resource Planning software and services – including accounting, tax and payroll applications – Cinven’s Technology, Media and Telecom (‘TMT’) Sector team worked closely with its US team to identify Drake as an attractive investment opportunity, given:

  • The resilience and stability of the professional tax preparation market;
  • Drake’s best-in-class reputation with its customers, evidenced by its market-leading customer retention rates and high recurring revenues;
  • Its market leading position, with the opportunity for further organic and acquisitive growth; and
  • The quality and breadth of the company’s software, with recent success in cross-selling new products and opportunities for the introduction of add-on products.

Cinven will be working with the highly experienced Drake management team, with Jamie Stiles continuing in his role as President and Chief Executive Officer of Drake Software.

Chris Good, Partner at Cinven, commented:

“This is a truly outstanding opportunity for Cinven to invest behind a team that has not only built a product that is loved by its customers, but also has a well-established position in a stable market with a wide range of exciting growth prospects.”

“We believe Cinven is well positioned to support the company through its next stage of growth, especially given its track record of investing successfully in technology-focused companies such as Visma and Jaggaer.”

Daniel Garin, Principal at Cinven, said:

“We are delighted to have the chance to work with Jamie and the Drake management team. We plan to invest behind the company’s growth plans to expand Drake’s presence in the market, renew its technology platform, and enhance its product offerings for the benefit of Drake’s employees and customers.”

Cinven’s investment in Drake builds on its successful track record in TMT, following its realisations of: Visma, a leading business solutions provider, in May 2019; Ufinet Group, a provider of fibre infrastructure and transmission services to telecom operators, in July 2018; and HEG, a provider of hosting and domain services, in April 2017.

Alongside these realisations, Cinven has continued to actively invest in the sector, most recently acquiring: MasMovil, a Spanish telecommunications operator; Jaggaer, a global provider of procurement software for large and medium-sized enterprises; RTB House, a global digital advertising technology provider; and One.com, a leading European web hosting provider.

The transaction is subject to customary anti-trust approvals.

Ropes & Gray LLP provided legal advice to Cinven on the transaction.

Chambliss, Bahner & Stophel, P.C. provided legal advice to Drake Software.

Deloitte Corporate Finance LLC acted as financial advisor to Drake Software.

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Idera, Inc. Announces Investment from Partners Group

TA associates

Global Private Markets Investment Manager Acquires Majority Control In Partnership With Current Shareholders And Management


News provided by

Idera

Jan 22, 2021, 07:10 ET


HOUSTON, Jan. 22, 2021 /PRNewswire/ — Idera, Inc. (“Idera” or “the Company”), parent company of global B2B software productivity brands, today announced an agreement to recapitalize the Company, with global private markets investment manager Partners Group becoming majority owner, on behalf of its clients. Current shareholders HGGC and TA Associates will continue as significant equity investors moving forward, along with Idera’s management team.

This recapitalization represents the fourth equity transaction for Idera since 2014 and reflects investor confidence in the Company’s innovative business model and M&A expertise.  Since 2014, Idera has grown revenue, bookings, and earnings by more than 10X.  Organic growth from market-leading assets and acquisitions of nearly 20 companies drive the growth and foretell continued investor success.

“Since partnering with TA in 2014, we devoted ourselves to achieving results beneficial to shareholders, customers, and employees,” said Randy Jacops, Idera’s CEO.  “Our business model ensures we focus on customer priorities and attracts great investors who advise our innovations and support our belief that accepting and managing risk encourages creativity and confidence from our team.  I am honored to lead such a great company and look forward to continuing our success with Partners Group and our other investors.”

“When we first met the Idera team, we discovered a company with a unique business model focused on efficiency, reliability and speed, and one that we believed to be an attractive investment opportunity,” stated Hythem El-Nazer, a Managing Director at TA Associates.  “We became fans of Idera’s product mantra of making products easier to use, more scalable and with exceptional quality. This clear focus eliminated friction from the go-to-market process and enabled the Company to focus on the highest value ideas. We are thrilled to continue to partner with Randy Jacops and his management team on the next phase of growth.”

“When we heard the Idera story, we jumped at the chance to invest in the Company as we pride ourselves on partnering with winning management teams to drive success,” said Steve Young, HGGC Co-Founder and outgoing Idera Chairman.

“After we acquired a majority interest in 2017, we worked with Idera to ramp up the acquisition engine and closed over ten transactions in two years. This pace continues with a new deal announced this week and another pending.  We look forward to more success as continuing investors in this great company,” added Neil White, Partner at HGGC.

Partners Group made an initial investment in Idera, on behalf of its clients, in 2019. As described by Hal Avidano, Managing Director at Partners Group, “We are excited to continue our relationship with Idera and expand its strong platform. Over the past 18 months, we became further convinced of Idera’s business model and the significant market opportunity in the sector. Partners Group is a transformational investor and we believe that our thematic and platform-building expertise is an excellent fit for Idera as it capitalizes on these secular trends and achieves further growth.”

Kirkland & Ellis and Horzepa, Spiegel & Associates acted as legal counsel for Idera.  Ropes & Gray acted as legal counsel for Partners Group.  Deloitte acted as accounting and tax advisor to Idera.  Jefferies will act as lead financing partner and M&A advisor for the transaction.

About Partners Group
Partners Group is a leading global private markets investment manager. Since 1996, the firm has invested over USD 145 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group is a committed, responsible investor and aims to create broad stakeholder impact through its active ownership and development of growing businesses, attractive real estate and essential infrastructure. With over USD 109 billion in assets under management as of 31 December 2020, Partners Group serves a broad range of institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.

Partners Group’s private equity business has an established track record of investing in leading businesses with development potential to generate attractive returns for its clients. With entrepreneurial governance at the heart of its approach, Partners Group’s private equity business aims to build high-performing boards and works together with management teams on targeted value creation initiatives. These enable long-term, sustainable growth, to the benefit of all stakeholders. Partners Group’s private equity business has directly invested in over 240 businesses since inception and today has USD 45 billion in assets under management.

About Idera, Inc.
Idera, Inc. delivers B2B software productivity tools that enable technical users to do more with less, faster. Idera, Inc. brands span three divisions—Database Tools, Developer Tools, and Testing Tools—with products evangelized by millions of community members and more than 50,000 customers worldwide, including some of the world’s largest healthcare, financial services, retail, and technology companies. To learn more, visit: https://www.ideracorp.com/.

About HGGC
HGGC is a leading middle-market private equity firm with over $5.4 billion in cumulative capital commitments. Based in Palo Alto, Calif., HGGC is distinguished by its Advantaged Investing approach that enables the firm to source and acquire scalable businesses through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Since its inception in 2007, HGGC has completed more than 190 platform investments, add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of over $27 billion. More information, including a complete list of current and former portfolio companies, is available at hggc.com.

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high-quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

Media Contacts

Partners Group – Clare Burrows
clare.burrows@partnersgroup.com
+1 (212) 908 2708

HGGC – Tom Faust
TFaust@StantonPRM.com
646-502-3513

TA Associates – Philip Nunes
phil.nunes@backbaycommunications.com
617-391-0792

SOURCE Idera

Related Links

https://www.ideracorp.com

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Montagu Private Equity to acquire majority position in ITRS Group from TA Associates

TA associates

Montagu Private Equity (“Montagu”), a leading European private equity firm, today announces it has agreed to acquire a majority position in ITRS Group (“ITRS”), a leading global provider of real-time monitoring and analytics software from TA Associates (“TA”), who will remain a minority holder alongside Montagu and Management.

Completion is expected next month, subject to customary closing requirements. The terms of the transaction were not disclosed.

ITRS’ software portfolio supports the “always on” enterprise, ensuring operational resilience for businesses operating in environments where technology failure means business failure. Headquartered in London, the company has established itself as an innovative and trusted partner, and today has over 3,000 clients across the globe, including nine out of the ten Tier 1 investment banks. In addition, its recent acquisition of Uptrends, a Netherlands-based website and web performance monitoring solution, has further strengthened ITRS’ product suite.

Since its establishment in 1997, ITRS has transformed from a European, single product solution to the capital markets industry, to today providing a comprehensive product suite to customers across a range of industries, including capital markets, telecommunications and healthcare. This has been achieved through impressive organic growth and M&A activity, and Montagu intends to work with the management team and leverage its experience, network and resources to continue to drive growth and further expansion.

Guy Warren, CEO of ITRS, said: “We are delighted to welcome Montagu into ITRS Group. Under TA Associates’ ownership, we have broadened our product suite and significantly expanded our customer base, and we thank them for their continued support. The Montagu team have shown a strong understanding of our business and its potential, and share our ambitions, and we are excited to partner with them for the next stage of growth.”

Christoph Leitner-Dietmaier, Director at Montagu, said: “It is a privilege for Montagu to back Guy and his leadership team, and we look forward to partnering with TA on this investment in ITRS. We are truly impressed by the leading position ITRS has established and are excited to support their vision of becoming the single pane of glass for IT monitoring for the enterprise customer.”

Morgan Seigler, Managing Director at TA, said: “We have greatly enjoyed partnering with Guy and the entire team at ITRS over the last four years to help drive the company’s growth and expansion. We look forward to collaborating with the ITRS team and Montagu to continue this successful journey.”

The sellers were advised by Jefferies International and Travers Smith LLP. Montagu was advised by Arma Partners and Freshfields Bruckhaus Deringer.

About Montagu Private Equity
Montagu Private Equity is one of Europe’s leading private equity firms and has been investing in businesses for over fifty years. Montagu’s investment strategy is focused on partnership with management in buyouts of high-quality companies operating in stable and growing sectors, providing products and services that their customers would badly miss. It develops a shared strategic vision with management and then provides the necessary financial, strategic and operational resources to help realise that vision and support growth. Montagu partners with companies with enterprise values between €200 million and €1 billion and has €8bn assets under management. For additional information on Montagu, visit www.montagu.com

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, the firm employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

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bonify acquires loan brokerage software from Joonko AG

Mouro Capital

Berlin-based fintech bonify, Germany’s leading credit rating platform, has acquired the credit brokerage software of Joonko AG. With this acquisition, bonify optimises the distribution and brokerage of consumer loans on its online platform.

With the acquisition of the credit brokerage software, bonify is taking consumer lending to a new level. “By integrating Joonko’s technology, bonify users can apply for a loan and realise long-held dreams faster and easier than ever before”, commented Dr. Andreas Bermig, co-founder of bonify. “The process, starting with the loan comparison and ending with the signing of the contract, takes place completely digitally in just a few minutes”. The new loan brokerage software is expected to be in place as early as spring 2021.

Lending gets faster, easier and completely digital

Anyone who has ever applied for a loan in Germany knows how inconvenient and lengthy the process can be. Discussions and appointments with the bank, the submission of documents such as proof of salary and creditworthiness, as well as the cumbersome verification on site or via PostIdent procedure unnecessarily drag out the application. With the digital account view, the process is optimised and digitalised. “A large part of the more than one million bonify users have already linked their bank account with their own bonify account. The connection enables us to suggest credit offers to our users that are perfectly tailored to their financial situation”, explains Bermig.

The use of the new technology eliminates the need to upload, print and send in documents. Identification and signing are conveniently carried out online. Thanks to the Videoident and eSign processes, the loan application can be completed in just a few minutes from the comfort of your home. All that is needed is an official identification document, such as an ID card, and a video camera. The loan is paid out a few days after the loan agreement has been processed.

bonify – Forteil GmbH | Reichenberger Straße 124 | Aufgang B-5 | 10999 Berlin presse@bonify.de | +49 30 346 466 709

About bonify

The FinTech start-up bonify enables consumers to gain transparency on both credit score and on financial situation. bonify enables users to check their credit score online at any time and free of charge. In addition, bonify offers various financial management tools for the analysis and optimisation of their financial situation. Based on this, users receive product offers tailored to their own creditworthiness – including loans and offers for gas, electricity, or DSL internet. Other free products include ‘tenant information’ for finding accommodation and ‘FinFitness’ for assessing and actively improving financial health. bonify was founded in Berlin in 2015 and is managed by Dr. Gamal Moukabary (Founder), Dr. Andreas Bermig (Founder), Raj Cheemakurti (CPTO), Frank Stowasser (VP Marketing) and Sarah Schuster (VP Growth & Customer Engagement). The startup currently employs more than 30 people from over 15 nations. Renowned investors such as Experian, Santander InnoVentures, Mosaic Ventures, Ribbit Capital, Index Ventures and DN Capital as well as the founders of Zalando and Raisin have so far invested in bonify. bonify is an account information service approved and supervised by the German Federal Financial Supervisory Authority (BaFin). Learn more at ​www​.bonify.de.

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