Tag Archives: Software

True Wind Capital Announces Strategic Investment in W Energy Software

Truewind

Growth Equity Investment to Accelerate Company’s Expansion into New Markets and Position it to Capitalize on Energy Transition

Mark Hill Appointed CEO Following Leadership Succession Plan

SAN FRANCISCO – January 13, 2022 – True Wind Capital (“True Wind”), a San Francisco-based private equity firm focused on investing in leading technology companies, today announced a strategic growth investment in W Energy Software (the “Company”). M33 Growth, LLC, a Boston-based venture and growth-stage investment firm that previously invested in W Energy Software, along with the Company’s founders and other shareholders, are rolling a meaningful portion of their investment into the transaction.

Based in Tulsa, OK, W Energy Software is a leading provider of cloud-based accounting and ERP software, delivering high levels of speed, ease, and accuracy to enterprise and mid-market customers across the energy and commodities value chain. The Company’s modern SaaS platform delivers efficiencies and insights for its blue-chip customer base through faster processing speeds, superior functionality, and full end-to-end visibility.

W Energy Software also recently executed a long-planned leadership succession plan. Mark Hill, the Company’s Chief Revenue Officer, was appointed Chief Executive Officer, and Pete Waldroop, W Energy Software’s founder and CEO, was appointed Chairman of the Board. Mr. Hill has more than 30 years of industry experience and worked alongside Mr. Waldroop for nearly three years. A recognized thought leader in the energy and commodities software space, Mr. Hill has held executive leadership positions at several energy technology companies including P2 Energy Solutions and leading commodity management provider Allegro Development.

Sean Giese, a Partner at True Wind, said, “As energy and commodities businesses navigate a highly dynamic operating environment, they are relying more than ever on technology partners who can streamline their operations and create efficiencies at scale. W Energy Software’s unique offerings, management team, and execution have positioned it well to assume a leading role in the overall energy transition movement. We are excited to support the business through this next chapter, both organically and through strategic M&A initiatives.”

“We are thrilled to embark on our new partnership with True Wind Capital and look forward to leveraging their proven expertise as we continue to embark on our growth trajectory,” Mr. Hill commented. “True Wind’s strategic investment, support, and proven track record in building enduring technology businesses will be a tremendous resource as we seek to expand into new markets, continue to invest in and enhance our differentiated SaaS platform and leading products, and execute a strategic M&A strategy. On a personal level, I would like to thank Pete for his endless contributions to W Energy Software and his endorsement in my ability to lead it through this important chapter.”

Will Heldfond, a Principal at True Wind, added, “We look forward to partnering with Mark and W Energy Software’s talented team to identify attractive areas for expansion and provide technology-enabled solutions that support the rapidly evolving landscape of energy creation, management and distribution.”

Orrick, Herrington & Sutcliffe LLP served as legal advisor to True Wind and Baird served as its financial advisor. Cooley LLP served as W Energy Software’s legal advisor and Aeris Partners served as its financial advisor.

About True Wind Capital
True Wind Capital is a San Francisco-based private equity firm focused on investing in leading technology companies. True Wind has a broad investing mandate, with deep industry expertise across software, data analytics, tech-enabled services, internet, financial technology, and hardware. Founded in 2015, True Wind has completed 11 platform investments and 20 add-on acquisitions. For more information, please visit https://www.truewindcapital.com.

About W Energy Software
Headquartered in Tulsa, Oklahoma, W Energy Software offers the energy industry a unified ERP solution built for the cloud that is relied on by more than 130 upstream and midstream companies to accelerate business performance, improve operational efficiency, and reduce costs. W Energy Software combines precision-built software in one extendable cloud-based workspace with an intimate understanding of the energy business to deliver solutions that offer flexibility, affordability, and continuous upgrades. With W Energy Software, energy companies stay lean and agile with the tools they need to adapt to market changes and meet evolving customer needs head-on, all while gaining the confidence that their business is running on the latest technology. For more information, please visit www.wenergysoftware.com.

About M33 Growth
M33 Growth is a venture and growth-stage investment firm that partners with founders and CEOs who have successfully bootstrapped their companies to strong growth and are positioned to rapidly scale their companies and breakthrough as market leaders. With deep experience fueling sales and marketing engines, driving acquisitions, and building value through data assets, M33 Growth seeks to propel portfolio companies to succeed in their markets. Founded by veterans of renowned investment firms with considerable operational experience, the Boston-based firm seeks to invest in companies in the software, healthcare, and services sectors throughout North America. Learn more at https://www.m33growth.com/.

Media Contacts:
For True Wind Capital:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co.
(212) 257-4170

For W Energy Software:
Ben Parker
Stratos Agency
(281) 636-9055
ben.parker@stratosagency.com

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RLDatix Announces New Growth Investment by Nordic Capital

Nordic Capital
January 10 2022
RLDatix Announces New Growth Investment by Nordic Capital Image

 

  • Latest investment will help fuel the next phase of RLDatix’s rapid growth in governance, risk and compliance while accelerating its mission of making healthcare safer around the world

RLDatix, the international leader in governance, risk and compliance (GRC) solutions for healthcare, announced today that Nordic Capital has made a minority equity investment in the company. Existing investors Five Arrows and TA Associates will continue to maintain a majority equity stake. Financial terms of the transaction were not disclosed.

Nordic Capital brings decades of experience supporting the growth of innovative healthcare IT companies as well as additional financial strength and is joining Five Arrows and TA to support RLDatix in its organic and inorganic growth objectives. Most recently, RLDatix acquired Allocate Software, the leading provider of human capital management solutions that help healthcare organizations deliver safe and effective care.

“We are excited to welcome Nordic Capital to our collaborative team of strategic investors,” said Jeff Surges, CEO, RLDatix. “Nordic Capital offers the right balance of global reach, domain expertise and capital strength, that we need in our next phase of rapid growth. With this investment, we are well poised to accelerate our journey as the leading provider of SaaS solutions that make healthcare safer for patients, the workforce and organizations alike. I would also like to thank all of our employees, as well as our current investors Five Arrows and TA, for their incredible support in helping us evolve into a global healthcare IT leader and look forward to continuing the partnership in this next chapter of our growth.”

About RLDatix

RLDatix is on a mission to change healthcare. We help organizations drive safer, more efficient care by providing governance, risk and compliance tools that drive overall improvement and safety. Our suite of cloud-based software helps organizations report on adverse events, reduce healthcare-acquired infections and ensure patient safety learnings are implemented across the continuum of care. With more than 5,000 customers in over 20 countries, RLDatix software protects hundreds of millions of patients around the world. RLDatix is controlled by Five Arrows, TA Associates and Nordic Capital as major shareholders. For more information, visit www.rldatix.com.

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 19 billion in over 120 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”

About Five Arrows

Five Arrows Principal Investments (FAPI) and Five Arrows Capital Partners (FACP) (together, “Five Arrows”) are the European and US corporate private equity arms, respectively, of Rothschild & Co’s Merchant Banking business. Five Arrows is focused on investing in middle-market companies with highly defensible market positions; strong management teams; business models with high visibility of organic unit volume growth and strong free cash flow conversion; and multiple operational levers that can be used to unlock latent value. The sector focus at Five Arrows is limited to healthcare, data & software and technology-enabled business services.

For more information please visit: https://www.rothschildandco.com/en/merchant-banking/corporate-private-equity.

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 550 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 $47.5 billion in capital since its founding in 1968. 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.

For more information:

Mike Etzinger
VP, Marketing
RLDatix
metzinger@rldatix.com

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Axcel partners with Picca Automation to create a leading Nordic industrial automation partner

Axcel

In partnership with the owners and management of Picca Automation, Axcel is setting out to create a leading Nordic industrial automation partner. The ambition is to grow further through acquisitions across the Nordic region.

Picca Automation is a leading provider of industrial automation services and software solutions to public and private customers in Denmark. Founded in 1988, Picca has in recent years grown revenue by 6-8% annually, and today has more than 100 highly skilled and dedicated employees across four locations in Denmark.

Automation is one of today’s top priorities for both private and public corporations, who are increasingly looking towards automation as a way to improve efficiency, limit their environmental impact and comply with ever increasing rules and regulations. Picca Automation has successfully established itself as the leading partner for Danish corporations, who wish to be at the forefront of automation and Industry 4.0, focusing on Big Data and Internet of Things (IoT). The partnership between Picca Automation and Axcel aims to build a leading Nordic industrial automation partner by continuing to attract top talent, continue to develop value creating solutions for customers and acquire other industrial automation companies across the Nordic region.

Henrik Jensen, co-owner and CEO of Picca Automation, said: “We see clear benefits to our customers and employees from building a Nordic automation partner, focused on high-end automation solutions. We see an increasing demand for our automation solutions, and we are well positioned to continue our profitable growth journey. Axcel has solid experience from building Nordic businesses, and the partnership with Axcel will allow us to pursue a much more ambitious growth agenda, not least through acquisitions.”  

Christoffer Müller, Partner at Axcel, said: “We know the industrial automation industry well and are convinced of the long-term growth outlook. We believe strongly in the merits of building a larger Nordic automation business, why we are excited to partner with one of the leading Danish automation companies and the very skilled and dedicated Picca Automation team.”

The management of Picca Automation, who are also owners, will continue and will retain a significant shareholding in the company. Axcel will hold a majority.

 

The transaction is expected to close in first half of 2022.

 

About Picca Automation

Picca Automation is a custom development software company focusing on sustainable and innovative solutions. Founded in 1988, Picca is a leading provider of industrial automation software solutions to large Danish companies with production in Denmark and abroad. Picca has more than 100 highly skilled employees across four locations in Denmark. Learn more on www.picca.dk

 

About Axcel

Founded in 1994, Axcel is a Nordic private equity firm focusing on mid-market companies, with a broad base of both Nordic and international investors. Axcel has raised six funds with total committed capital of EUR 2.8 billion. These funds have made 63 platform investments with well over 100 add-on investments, and 43 exits. Axcel currently owns 20 companies.

 

 

 

Further information

Axcel:

Christoffer Müller, Partner

Tel.: +45 29 38 53 66

E-mail: cm@axcel.dk

 

Christian Schmidt-Jacobsen, Managing Partner

Tel.; +45 21 78 36 97

E-mail: csj@axcel.dk

 

Picca Automation:

Henrik Jensen

Tel.: +45 20 20 52 30

E-mail: hje@picca.dk

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ProcessMAP partners with Hg

HG Capital

ProcessMap partners with Hg, a global software investor, to accelerate its strategy towards becoming a global software leader in worker health and safety management

Hg’s strategic investment will accelerate ProcessMAP’s position towards a category leader in the rapidly growing EHS Risk and Compliance software sector.

Ft. Lauderdale, Florida, USA and New York, New York, USA.  5 January 2022.

ProcessMAP Corporation (“ProcessMAP”), a leading Environmental, Health and Safety (“EHS”) software platform provider, announced today that Hg, a leading software and services investor with nearly $40 billion funds under management, has agreed to make a significant investment in the business to accelerate ProcessMAP’s growth and expansion, and help solidify the company’s position as a global leader in the EHS software sector.

Following the transaction, ProcessMAP’s management team will retain a significant stake in the business. The terms of the transaction are not disclosed.

Founded in 2000, ProcessMAP’s vision is to enable businesses to proactively mitigate workplace health and safety risks for workers. ProcessMAP’s SaaS and mobile solutions serve mid-market and enterprise customers across large industry verticals such as automotive and manufacturing. ProcessMAP’s solutions are used by global customers in more than 140 countries, covering 2 million workers across 80,000 sites. Headquartered in Florida, ProcessMAP has nearly 300 employees based in the USA, Canada, the UK, Germany and India. The company is regularly recognized as a “Leader” in the biennial Green Quadrant report for EHS software published by Verdantix, an independent industry analyst for the EHS sector.

Accelerating the Innovation Momentum for ProcessMAP Customers

ProcessMAP will leverage the financial investment as well as Hg’s 20+ years of industry-leading experience in building and rapidly growing innovative software businesses.  The financial partnership with Hg will also enable ProcessMAP to deliver next-generation, smart and connected EHS solutions to its customers globally. Additionally, the company will also make investments to expand its team globally, strengthen its position further, and broaden its global customer base, particularly in Europe and Asia-Pacific.

Comments on the News

“We share our customers’ commitment to create and offer the safest and the healthiest workplaces, while minimizing the environmental impact of day-to-day operations. Bringing in Hg to invest in our business comes at a very interesting time as we see an opportunity to help customers protect millions more workers globally.”

Dave Rath, CEO and Co-Founder of ProcessMAP

“This partnership, built on software knowledge and experience, will enable us to develop our analytics-driven software further, helping more customers across the globe optimize their EHS processes while, critically, mitigating operational and sustainability risk.”

Jagan Garimella, CTO and Co-Founder of ProcessMAP

“Hg has been focused on risk and compliance software for two decades and we see strong tailwinds continuing to drive demand in this sector. The impressive work from Dave Rath, Jagan Garimella, and the team means that ProcessMAP is well-positioned to benefit from this dynamic. They’ve built a high-quality platform which receives consistent, strong feedback from a loyal customer base. We believe that together, Hg and ProcessMAP, will form a strong partnership and we look forward to supporting the team, investing in the business and continuing to realize its growth potential.”

Ben Meyer, Partner at Hg

KPMG Corporate Finance acted as the exclusive investment banking advisor to ProcessMAP.

Media Contacts

Hg
Tom Eckersley
Tom.Eckersley@hgcapital.com
+44 208 148 5401

Alex Yankus and Harry Mayfield (Brunswick, USA)
+1 917 818 5204

ProcessMAP
Sandeep Rath
Director, Global Product Marketing and Analyst Relations
srath@processmap.com

About ProcessMAP Corporation

ProcessMAP Corporation is the most trusted name for a digitization and process transformation platform that empowers customers to ensure workers’ health & safety, minimize risk, and assure compliance. The ProcessMAP Platform includes solutions for Environmental, Health and Safety (EHS), Environmental, Social and Governance (ESG), and Operational Risk Management (ORM), Industrial IoT, and actionable data analytics to connect people, systems, assets, and facilities to drive a Sustainable Enterprise. ProcessMAP is headquartered in Ft. Lauderdale, Florida, with locations across the globe, serving customers in over 140 countries. Visit https://www.processmap.com/ to learn more.

About Hg

Hg is a growth platform for software and services champions, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of around $40 billion, with an investment team of over 140 professionals, plus a portfolio team of around 40 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $92 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year. Visit www.hgcapital.com for more information.

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Nordic Capital exits investment in Vizrt Group to a new Nordic Capital-led consortium to further support successful growth journey

Nordic Capital
DECEMBER 28 2021
Nordic Capital exits investment in Vizrt Group to a new Nordic Capital-led consortium to further support successful growth journey Image

 

A Nordic Capital investment vehicle is exiting its investment in Vizrt Group to a new Nordic Capital-led consortium, comprising a secondary acquisition vehicle and other Nordic Capital investment vehicles. This transaction will allow Nordic Capital, alongside the Vizrt management team, to continue to support the business and its strategy over its next ownership cycle, providing capital to further fuel the strong growth momentum.

The secondary acquisition vehicle, which forms part of the new Nordic Capital-led acquiring consortium, was established with investment vehicles managed or advised by Goldman Sachs Asset Management’s Vintage Funds, Pantheon and Coller Capital as co-leads.

Vizrt is a global leader in production software for live video production, serving the world’s best storytellers from tier one sports and news producers through to corporate, education and Pro-AV markets. Building on Vizrt’s leading technology platform, strong customer relationships and reputation for operational excellence, Nordic Capital has entered into a strategic transaction to enable it to further invest through a new consortium led by it in the ongoing development of the business. The aim is to further support Vizrt’s continued transition to a SaaS business model, accelerate new offerings, expanding its operational capabilities and pursuing add-on investments to complement the offering and further accelerate the group’s growth.

Following Nordic Capital’s initial investment in 2015, Vizrt has continued its innovation leadership in graphics and live production software, successfully expanded into new markets and regions and is today a global leading software provider for software defined visual storytelling solutions. During Nordic Capital’s ownership, expansion initiatives and product investments has doubled Vizrt’s revenues and accelerated organic growth leading to tripled profits. Furthermore, a top tier, globally recognised management team has been added, high calibre talent has been attracted throughout the business, and the IP video technology focus has been further enhanced with the acquisitions of NewTek and NDI.

“Vizrt is an exciting company that has consistently performed during Nordic Capital’s ownership. This transaction is an opportunity for Nordic Capital to continue to support Vizrt’s high-caliber management team and to further develop the company which has an exciting future ahead with strong growth potential. Vizrt will continue to benefit from Nordic Capital’s strong capabilities as software investor with an outstanding network and know-how in operational excellence. We are excited for Nordic Capital to have the opportunity to continue the journey together with Vizrt’s team who share the same vision of building a leading video software company which will drive the industry shift to IP and cloud adoption”, said Fredrik Näslund, Partner and Head of Technology & Payments at Nordic Capital Advisors.

“This continued investment validates the growth strategy we have embarked upon with Nordic Capital and is a strong endorsement of the capabilities of our team and the value we deliver for our customers every day. It will help us to better meet the evolving needs of our customers in the future by allowing us to realise our development plans, further deepening our innovative service offering”, said Michael Hallén, CEO of Vizrt.

Technology & Payments is one of Nordic Capital’s focus sector where it is has a long and extensive history and experience of investing and supporting sustainable growth in technology software companies. To date, Nordic Capital has deployed more than EUR 5.4 billion of equity across 23 technology companies since 2001 and has significant experience in software as well as payments.

Financial terms of the transaction were not disclosed, with completion of the transaction remaining subject to certain conditions such as satisfactory clearance from relevant anti-trust authorities.

Nordic Capital was advised in the process by, among others, Evercore as financial advisor, Kirkland & Ellis as lead legal counsel and Gernandt & Danielsson as Swedish legal counsel.

Press contacts:

Nordic Capital
Katarina Janerud, Communications Manager,
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

Vizrt

Steve Wind-Mozley, Chief Marketing Officer
e-mail: swm@vizrt.com


About Vizrt
Vizrt is a global leader in production software for live video production, with large and diversified product segments serving News & Entertainment, Sports & eSports, Enterprise & Org. and Digital Industries.  The group contains three of the strongest names in the media and entertainment technology industry; NewTek, NDI® and Vizrt, all three being creative businesses, built on innovation and grown by the group’s people, with the goal of becoming the most recommended solution provider in the markets they serve. Vizrt combines strategic pillars of Content-Centricity, Software-Defined, IP First, and Innovation to increase its customers’ success in delivering engaging and immersive content to their audiences. Vizrt Group is a global and diverse organisation with over 600 employees from 58 different nationalities, with offices in 16 countries worldwide. For more information, please see www.vizrt.com

 

About Nordic Capital
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 19 billion in over 120 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”

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Maritime technology company Seaber.io to secure new growth funding

Seaber.io, the Finnish maritime technology company has raised EUR 1.5 million from Counterview Capital, Lifeline Ventures and Tesi to further develop the business.

Seaber is dedicated to reducing the environmental impact, inefficiencies and costs of bulk and break bulk shipping. Seaber’s cloud-based schedule planning, optimisation and communication solution helps charterers and shipowners to reduce emissions by improving asset utilisation.

“Seaber is set to modernize a traditional industry and bring new digital capabilities to maritime operators, driving significant environmental impact. As such it is a great fit with our Venture Bridge investment program. We are delighted to join a high-caliber investment syndicate supporting the company’s growth ambitions,” comments Juha Lehtola, Director of Tesi’s Venture Capital team.

Read more:

Press release by Seaber.io 21.12.2021

Additional information:

Juha Lehtola, Director, Venture Capital, Tesi
+358 400 647 671
juha.lehtola@tesi.fi

 

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros. www.tesi.fi | @TesiFII

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Advent International acquires majority stake in Encora, a leading provider of digital engineering services

Advent International

BOSTON and SCOTTSDALE, Ariz. December 21, 2021 – Encora, a global digital engineering services company specializing in software product development services for fast-growing enterprises and digitally native companies and Advent International (“Advent”), a leading global private equity firm, today announced that Advent has acquired a majority stake in Encora’s business. As part of the agreement, Warburg Pincus, the existing majority shareholder of Encora, retains a minority stake.

“We are thrilled to enter into this partnership with Advent as we continue to scale our differentiated software engineering service offerings,” said Venu Raghavan, chief executive officer, Encora. “Advent’s deep business and technology services sector expertise, along with its global footprint, complements Encora’s strengths and creates opportunities to grow our business in key markets around the world.

Warburg Pincus has been a great partner to us over the last two and a half years, accelerating our rapid growth to a valuation of approximately $1.5B. We look forward to continuing to work alongside them in this next phase of growth.”

Encora is an established leader in outsourced software product development services, using deep technical expertise in machine learning, AI, data science, cloud services and other next-generation digital engineering disciplines to accelerate strategic innovation for tech-enabled companies whose market position and growth are driven by proprietary software products. Since rebranding as Encora in 2020, the Company has expanded its focus within the Consumer Tech and Enterprise Tech sectors, and grown its global talent pool to over 6,300 associates across 40 global offices across LatAm, India, APAC and the U.S.

“We have seen tremendous growth in the digital technology services sector over the past few years, as the need for strong technology products has escalated across industries,” said Shweta Jalan, managing director at Advent. Jan Janshen, managing partner at Advent, also said, “we believe Encora is well positioned to capitalize on the growing digital services market, and we are excited to partner with Venu, Encora’s talented management team, and Warburg Pincus to support the company’s growth in key markets across North America, Europe, India, Asia Pacific and Latin America, where Advent has a strong presence and domain expertise.”

This new partnership enables Encora to accelerate its global growth, both organically and through targeted M&A opportunities, expand its differentiated delivery model and advance its customer-facing digital services. Encora continues to focus on serving the software and digital engineering needs of enterprise SaaS companies, midmarket technology companies, and large enterprises.

“Encora has built an industry leading position, driven by its sharp customer focus and ability to attract high quality technology talent across the globe,” said Steven Glenn, managing director, chief financial officer and chief operating officer, Warburg Pincus. “Advent is a great addition to the team and we look forward to continuing to support Encora’s bright future.”

Advent, with $81 billion in assets as of June 30, 2021, has invested in over 380 companies across 42 countries, throughout North America, Europe, Latin America and Asia. It has significant investment experience in both the business and technology services sectors and in the key markets where Encora
operates.

About Encora

Headquartered in Scottsdale, AZ, Encora is an established leader in software and digital engineering services, specializing in innovation acceleration for leading edge technology companies. Encora has over 6,300 associates in 40+ offices and innovation labs across U.S., Mexico, Costa Rica, Brazil, Colombia, Peru, Bolivia, India, and Asia Pacific. Encora’s global talent pool, micro-industry vertical expertise and proprietary agile engineering capabilities enable clients to improve their speed to impact.

For more information, visit:
Website: www.encora.com
LinkedIn: https://www.linkedin.com/company/encorainc/

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 380 companies across 42 countries, and as of June 30, 2021, had $81 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 245 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After more than 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit:
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

About Warburg Pincus

Warburg Pincus LLC is a leading global growth investor. The firm has more than $67 billion in private equity assets under management. The firm’s active portfolio of more than 215 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 20 private equity funds, which have invested more than $97 billion in over 960 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore.

For more information, visit:
Website: www.warburgpincus.com
LinkedIn: www.linkedin.com/company/warburg-pincus/

 

Media contacts

For Encora
Joshua Kanter, Chief Marketing Officer
480-991-3635
joshua.kanter@encora.com

Alec Robertson
Brodeur Partners on behalf of Encora
585-281-6399
arobertson@brodeur.com

For Advent International
Khushal Devera
Ketchum Sampark Pvt. Ltd.
+91 98196 66376
khushal.devera@ketchumsampark.com

For Warburg Pincus
Kerrie Cohen, Head of Corporate Communications, U.S.
212-878-9207
kerrie.cohen@warburgpincus.com

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KKR to Acquire Leading Software Provider Yayoi from ORIX

KKR

Investment elevates Yayoi into next phase of growth and enhances its work to meet digitalization needs of Japanese SMEs

TOKYO–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the signing of a definitive agreement under which KKR will acquire Yayoi Co., Ltd. (“Yayoi” or the “Company”), a software developer, distributor, and support service provider for small- and medium-sized enterprises (“SMEs”) in Japan from ORIX Corporation (“ORIX”), a leading integrated financial services group.

Yayoi is the largest financial and accounting software provider for SMEs and sole proprietors in Japan, best known for its namesake accounting and tax filing software, widely used by Japanese SMEs. According to MM Research Institute and BCN, the Yayoi Series has been Japan’s number-one cloud accounting software for six consecutive years by number of users, and the number-one desktop business software for 22 consecutive years, with over 2.5 million registered users. Not only does Yayoi have strong brand recognition, but the Company plays a leading role in assisting Japan’s SMEs as they adopt greater digital solutions into their operations and migrate more functions to the cloud. Since 2020, the Company has also been involved in the launch of advocacy organizations including the Social Systems and Digitization Study Group and the E-Invoice Promotion Association, which both look to promote the digitalization of Japanese businesses.

KKR is one of the world’s leading diversified asset management companies, founded in 1976, and is listed on the New York Stock Exchange. As of the end of September 2021, KKR had assets under management of US$459 billion (~JPY52 trillion) and had completed investments in approximately 330 companies through its global private equity strategy.

KKR brings to Yayoi its strong expertise investing in and supporting the success of technology and software businesses globally, including companies focused on accounting and business solutions to SMEs. In the accounting and business software area for SMEs, KKR has a track record of investing in companies such as MYOB in Australia, Exact in the Netherlands, Visma in Scandinavia, and KiotViet in Vietnam. KKR has invested globally in a range of companies in the enterprise software and cloud and SaaS solutions space, such as Epicor, an ERP vendor in the United States; OneStream, a cloud financial accounting platform in the United States; SoftwareOne, an integrated business software and cloud solution in Switzerland; and dataX, the developer of the marketing tool b-dash in Japan.

Hiro Hirano, Co-Head of Private Equity for KKR Asia Pacific and CEO of KKR Japan, said, “SMEs account for the vast majority of companies in Japan. Considering this, we are pleased to add Yayoi to our global portfolio of software providers, and excited to support this important sector of the Japanese economy as SMEs strive to enhance their operational efficiency by digitally transforming their businesses. We see a terrific opportunity to increase Yayoi’s penetration across Japan and look forward to promoting the Company’s growth by leveraging our expertise in this segment.”

Nobuki Watanabe, Executive Officer, ORIX Corporation, commented, “Since we invested in Yayoi in December 2014, we have been working with the company’s management to significantly grow the business, leveraging our financial know-how and human resources. During this time, Yayoi has solidified its position as the firmly established leader in the domestic software service market for SMEs. As digitalization and cloud services grow in Japan, Yayoi now looks to a new phase of growth. We decided to proceed with this transaction with KKR in order to further support this new dynamic growth phase for Yayoi.”

Koichiro Okamoto, Yayoi Chief Executive Officer & President added, “By welcoming KKR as a new shareholder, Yayoi is even better enabled to provide further value beyond our current framework of providing business software. Together with KKR, we will not only support the growth of SMEs, the backbone of the Japanese economy, but also transform the business software industry in Japan and help to accelerate the digital transformation of society through dynamic and innovative product and service development beyond the current Yayoi SaaS products.”

The transaction is expected to be completed on March 1st, 2022, subject to regulatory approvals and customary closing conditions. Further details of the investment have not been disclosed.

KKR is making its investment from its Asia IV Fund. The investment adds to KKR’s track record in Japan, where KKR’s current private equity portfolio includes Seiyu, Kokusai Electric (formerly Hitachi Kokusai Electric), PHC Holdings (formerly Panasonic Healthcare), Koki Holdings, Marelli (formerly Calsonic Kansei), and growth investments in dataX (formerly From Scratch) and NetStars. In addition, KKR’s infrastructure team recently announced an investment in Central Tank Terminal, a chemical tank terminal operator in Japan, and KKR’s real estate team completed its first investment in Japan in October 2021.

BofA Securities Japan Co., Ltd. acted as KKR’s financial advisor.

About KKR

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

About Yayoi Co., Ltd.

Founded in 1978, Yayoi is the largest financial and accounting software service provider in Japan. The Company is most recognized for its Yayoi Series and complementary business and business support services which are predominantly used and valued by SMEs, sole proprietors, and entrepreneurs to address their business needs. The Yayoi Series has been Japan’s top-selling software product for cloud accounting and for desktop business for 6 and 22 years, respectively, with a broad customer base of more than 2.5 million registered users. Across the wider business and business support segments, Yayoi also provides software solutions for those launching businesses and raising funds. Much of the Company’s recent focus has been on promoting digital transformation for Japan’s business community, as well as on activities that improve operational efficiency through the launch of the “Electronic Invoice Promotional Council” and other initiatives.

About ORIX

ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses.

Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into lending, investment, life insurance, banking, asset management, automobile related, real estate and environment and energy related businesses. Since entering Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in 28 countries and regions across the world.

Going forward, ORIX intends to utilize its strengths and expertise, which generate new value, to establish an independent ORIX business model that continues to evolve perpetually. In this way, ORIX will engage in business activities that instill vitality in its companies and workforce, and thereby contribute to society. For more details, please visit our website: https://www.orix.co.jp/grp/en/

(As of September 30, 2021)

 

Media:

KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com
or
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

KKR Americas
Cara Major or Miles Radcliffe-Trenner
+1 212-750-8300
Media@kkr.com

Finsbury (for KKR Japan)
Deborah Hayden, +81 702492 0463
Hannah Perry, +81 70 3769 9633
FinsburyKKRJapan@finsbury.com

Source: KKR

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CONET Group acquires Karlsruhe-based ISB AG

IK Partners

CONET Group acquires Karlsruhe-based ISB AG, strengthening its market position in the public and automotive sectors

Common values and matching areas of focus form an ideal basis for successful cooperation in the CONET group of companies.

Hennef, December 15, 2021 – IT consulting firm CONET and the consultants and software developers of Karlsruhe-based ISB AG will combine their industry expertise, development know-how and consulting experience in the future. With this step, the two companies that have been successful individually in the IT services market for more than 30 years, will benefit from complementary services and customer relationships, particularly in the public and automotive sectors. The acquisition of ISB AG was supported by IK Partners, CONET Group’s majority investor, with whom CONET is consistently pursuing its growth course.

ISB AG, founded in 1981, has around 250 employees and specialises in software development and IT consulting. With the addition of ISB AG, which has its headquarters in Karlsruhe and offices in Berlin, Mainz and Stuttgart, the CONET group of companies is expanding its market position in key segments and extending its portfolio of solutions in the fast-growing consulting and service sectors of process automation, software development and digitalisation in public administration and industry.

Financial terms of the transaction have not been disclosed and the completion of the transaction is subject to legal and regulatory approvals.

“We have found an ideal new partner in ISB AG,” explains Anke Höfer, CEO of the CONET group of companies. With their distinctive expertise, especially in the areas of software development and process consulting, we are complementing our portfolio in a targeted manner and are jointly pursuing the strategy of further expanding our market position as a valued digitalisation partner.” ISB’s management team is guided by the same values as we are and has built a strong and innovative company that always keeps its finger on the pulse of digital development. We look forward to working with them to develop even more powerful solutions for our customers.”

Ralf Schneider, who has been a member of the ISB AG Executive Board since 2005, adds: “Open and cooperative partnership, respect, personal responsibility and, last but not least, transparency and a long-term approach are central cornerstones of our corporate philosophy. CONET Group shares these guiding principles, which are laid down in its corporate constitution CONET LIFE. This is the ideal basis for us to create maximum added value for our customers with our deep understanding of processes, industry knowledge and the highest methodological and technological competence and to offer our employees excellent prospects. We are looking forward to the future together in a strong group of companies!”

IK Partners
Deekeling Arndt/AMO
Natascha Divac
Phone: +49-162-9981108
natascha.divac@deekeling-arndt.com

CONET Technologies Holding GmbH
Simon Vieth, Spokesman
Phone: +49 2242 939-246
presse@conet.de

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Körber and KKR form strategic partnership to build a global supply chain software champion

KKR

December 14, 2021

Strategic partnership to create enhanced end-to-end capabilities for customers amid increasing supply chain complexity

 

Hamburg/Frankfurt, Germany and London, United Kingdom, 14 December 2021 – Körber, an international technology group, and KKR, a leading global investment firm, today announced that KKR has acquired a significant minority stake in Körber’s supply chain software business. This strategic partnership is expected to enable Körber’s supply chain software business to become a global leader with enhanced end-to-end solutions for customers worldwide. Financial terms of the transaction were not disclosed.

Körber’s supply chain software business is among the top three global warehouse management software providers, delivering customers with differentiated warehouse management solutions (WMS) for varying operational complexities through software, voice and robotics solutions. With over 1,300 employees, the business has grown significantly over recent years, serving a diversified mix of more than 4,200 customers in different industries across over 70 countries.

Structural trends and market forces, including e-commerce, multi-channel, and micro-fulfilment, are amplifying the need for digital solutions to handle increased volume and overcome greater supply chain complexity.

KKR will work with Körber’s supply chain software business to pursue organic and inorganic growth strategies to expand the company’s geographic footprint, accelerate the transition to SaaS, automation and robotics, as well as to develop innovative digital solutions to support customers amid increasing warehouse automation and supply chain localization.

Stephan Seifert, CEO of the Körber Group, said: “I’m excited about this strategic partnership and the tremendous business opportunities evolving out of it. It is in Körber’s DNA to identify and develop attractive growth areas. With our supply chain software offerings, we strive to have a rich end-to-end application suite that provides enhanced software solutions to our customers all around the world. With KKR we have found a great business partner to accelerate our growth for supply chain software across additional products and regions. Always with one clear vision: market leadership through technology leadership for the benefit of our customers.”

Christian Ollig, Head of KKR for DACH, and Jean-Pierre Saad, Head of Technology for Private Equity in EMEA at KKR, commented: “A seamless and highly automated supply chain is business critical for enterprises of all sizes and we see significant growth potential in this market. Körber’s supply chain software business is already one of the leading providers with excellent expertise and capabilities in WMS including robotics and voice, led by an industry-leading management team. We look forward to the strategic partnership with Körber and to leveraging our experience of growth acceleration with global software businesses, as well as partnering with management, to help Körber’s supply chain software business reach its full potential in this attractive market.”

Chad Collins, CEO Software, Körber Business Area Supply Chain, says: “The strategic partnership with KKR is a great opportunity for us and we look forward to working with them and to drawing on their vast experience and track record of investing in and scaling software businesses globally. This will allow us to significantly accelerate our growth plan to build a global champion in supply chain software.”

KKR’s investment comes from its flagship European private equity fund, KKR European Partners Fund V, which has a long track-record in strategic partnerships with founders, corporates and management teams. KKR is one of the most active investors focused on building leading global technology enterprises, with global tech investments including Cegid, Exact Software, Cloudera, Darktrace, MYOB, Onestream, Epicor, iValua, Visma, among others. Across DACH, KKR has been investing on the ground for over 20 years primarily through strategic partnership deals such as in Axel Springer, Scout24, Wella, Unzer and SoftwareOne.

The transaction is subject to customary closing conditions and regulatory approvals.

– End –

About Körber

We are Körber – an international technology group with about 10,000 employees, more than 100 locations worldwide and a common goal: We turn entrepreneurial thinking into customer success and shape the technological change. In the Business Areas Digital, Pharma, Supply Chain, Tissue and Tobacco, we offer products, solutions and services that inspire. We act fast to customer needs, we execute ideas seamlessly, and with our innovations, we create added value for our customers. In doing so, we are increasingly building on ecosystems that solve the challenges of today and tomorrow. Körber AG is the holding company of the Körber Group.

About Körber’s Business Area Supply Chain

In the Business Area Körber Supply Chain, we have a broad range of proven supply chain solutions to fit our customers’ size, business strategy and appetite for growth. Our customers conquer the complexity of the supply chain thanks to our portfolio that includes software, automation, voice solutions, robotics and material handling – plus the systems integration expertise to tie it all together. Körber helps to manage the supply chain as a competitive advantage.

About KKR

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

Further information is available at www.koerber-supplychain.com and www.koerber.com/en

 

Contact Körber:

Business media

Matthias Mezele

Senior Manager Corporate Communications

Körber AG Tel.: +49 40 211 07 364

Mob.: +49 173 75 19 148

E-Mail: matthias.mezele@koerber.de

 

Trade media

Heather Smith

Director Corporate Communications and Brand

Körber Supply Chain – Software

Tel.: +1.800.328.3271-2717

Mob.: +1.605.203.0605

E-Mail: heather.smith@koerber-supplychain.com

 

Contact KKR: Germany & Switzerland

Finsbury Glover Hering

Thea Bichmann

Tel: +49 172 13 99 761

E-Mail: kkr_germany@fgh.com

 

Finsbury Glover Hering

Emily Lagemann

Tel: +49 160 992 713 35

E-Mail: kkr_germany@fgh.com

 

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