THE HAGUE – BB Capital Investments has taken a majority stake in VYTAL, an IT platform specialized in digital total solutions for the sports and health industry. Both parties announced this today. The company from Alphen aan den Rijn will use the investment to expand its unique market position in the Netherlands and Europe.

VYTAL supplies a complete software package to support coaches in their business processes and coaching activities. The company has been active in the growing digital health solutions market since 2019. The nutrition app managed to develop into an innovative platform with a complete offering where users and providers come together. The entire team of ten employees remains active from the head office in Alphen aan den Rijn.

Stephan Laurs, founder and CEO: “With BB Capital on board, we can roll out our strategy to become the all-in-one platform for coaches even more effectively. Our mission is to create a real vitality movement where, on the one hand, we help our users to become and remain vital, while we give our coaches all the tools to support users in this. From business administration to community and marketing support.”

Susan van Koeveringe, Managing Partner BB Capital Investments: “VYTAL has a clear focus on building a digital platform within which all activities for coaches come together. With the knowledge and drive of the VYTAL team, we are working with ambition to offer a total solution in this growing but fragmented market. We are excited to build a strong and innovative company together, both through organic growth and through multiple follow-up acquisitions in the Netherlands and abroad.”

06 March 2024 – Quilvest Capital Partners (“Quilvest”), a dedicated global mid and lower midmarket alternatives investment manager with over $7 billion in AUM, today announces its
investment in Acuiti Labs, a leading SAP consultancy specializing in optimizing the quote-to-cash
process.

Founded in 2014 by CEO Manoj Harbhajanka and headquartered in London, Acuiti Labs has
established itself as one of the largest consultancies dedicated to the quote-to-cash process, with
over 200 employees and global operations spanning North America, Europe and Asia. The
company advises large, blue-chip businesses seeking to optimize their revenue management and
billing processes through SAP Billing and Revenue Innovation Management (BRIM) solutions.
Quilvest’s investment will support Acuiti Labs’s continued global expansion strategy, including
further headcount growth and investment in technology, with a relentless focus on delivering bestin-class service, support and technology to its clients and partners.

With a global and diverse client base, Acuiti Labs delivers solutions aimed at making their
customers successful by monetizing services, minimizing revenue leakage and enhancing
financial reporting functionalities. The company derives 40% of its revenue from the U.S. market
and 55% from Europe, alongside other international regions.

Manoj Harbhajanka, CEO of Acuiti Labs, said, “We are thrilled to welcome Quilvest as our
strategic partner, poised to support our company in its next phase of growth. Leveraging their
professional expertise and extensive network, coupled with Acuiti Labs’s strong positioning and
talented management team, we are looking forward to further success.”
Benjamin Sass, Partner at Quilvest Capital Partners, said: “Acuiti Labs is at the forefront of an
enduring technology shift as companies across various industries seek to transform and optimize
their revenue models. We are honored that Quilvest Capital Partners has been selected as the
partner for Acuiti Labs’s next growth chapter, and we look forward to combining our international
reach and partnership approach with Acuiti Labs’s unique expertise and proven success in the
SAP BRIM space.”
-ENDS

About Quilvest Capital Partners
Quilvest Capital Partners is a leading global investment manager focused exclusively on the midmarket. It operates four investment strategies: Buyout; Primaries, Co-Investments and
Secondaries; Private Credit and Real Estate.
As one of the earliest pioneers in the alternative investment industry, we pride ourselves on our
rich and extensive history, with decades of experience deploying capital across multiple business
cycles and environments. We are trusted to manage over $7bn AUM for a prestigious base of
global investors, including leading pension plans, sovereign wealth funds, insurance companies, and family offices.

Our heritage dates back more than a century to 1917, managing the wealth of
our founding shareholder, the Bemberg family, which we continue to do today.
With six offices worldwide, our team is focused on identifying the global trends and themes
underpinning each investment strategy. We overlay this thematic approach with an extensive
global network of highly valued relationships, enabling us to identify and invest in the best
opportunities for our investors and partners.

Quilvest Capital Partners is committed to the highest standards of excellence. We offer best-inclass infrastructure and the professionalism of a leading global investment firm while retaining the
deeply personal, entrepreneurial, nimble approach routed in our origins.
For more information, visit www.quilvestcapitalpartners.com

About Acuiti Labs
Acuiti Labs, headquartered in London, is a global SAP consulting firm specializing in “Quote to
Cash” process transformation and optimization. As a SAP Silver Partner, we excel in delivering
business technology solutions and digital transformation by deploying SAP BRIM on S/4HANA
and cloud-based applications like Subscription Billing, CPQ and Entitlement Management.
With exceptional experience across various industries, Acuiti supports subscription and
consumption-based Target Operating Models, which is ‘Anything as a Service’ covering industries
like Public Transport, Automotive, Travel and Tourism, Ports (Airports & Seaports), Postal, Telco,
Media and Hi-Tech. Acuiti Labs prioritizes value realization and the monetization of digital assets, services and
strategies, offering end-to-end services covering Business & IT consulting, implementation,
training and managed support to our clients while keeping customer benefits at the forefront of
our efforts.

For more information, visit www.acuitilabs.com
Media contacts
Greenbrook
Tashi Lassalle / Demi Kurban / Sofia Newitt
+44 (0) 20 7952 2000
Quilvestcapital@greenbrookadvisory.com

• The investment is made in partnership with ActiveViam’s founders and management to support and accelerate continued high-growth and expansion
  
• Nordic Capital, a leading investor in banking software, will leverage its long-standing expertise and experience from accelerating digitization of the financial services industry 

• The aim is to realize ActiveViam’s potential of improving the ever-growing needs of financial institutions’ regulatory compliance and real-time monitoring — as well as deep historical analysis — of performance, risk management and financial planning

Nordic Capital announced today it has acquired a majority stake in ActiveViam to support its next phase of growth. The investment is made in close partnership with ActiveViam’s founders and management who will invest alongside Nordic Capital.

ActiveViam is a leading provider of advanced analytics and decision-making solutions for financial institutions, including risk analytics and regulatory compliance software. The technology is purpose-built, scalable and handles massive datasets in sub-seconds. Founded in 2005 by industry experts, ActiveViam understands the data analytics faced by financial institutions across trading desks, risk and compliance, and its track differentiated core technology outperforms horizontal data aggregation and analytics tools.

ActiveViam serves a wide range of financial services organizations: Tier 1 and Tier 2 banks, hedge funds, asset managers, exchanges and regulators. The Company has lined up an extensive group of technology, system integrator, go-to-market and OEM partners, including Google, Accenture, AWS, Deloitte, ClickHouse, S&P Global, Snowflake, and Wolters Kluwer.

Financial analytics is a $10.4 billion addressable market growing at 13 percent a year, according to L.E.K. Consulting. Market drivers include continuous regulatory change, a focus on automation of manual processes, and an increasing need for a unified view of data spread across the fragmented IT ecosystem typical for large financial institutions.

As an experienced investor in the banking software sector, Nordic Capital aims to leverage its extensive expertise to scale the continued high organic growth of ActiveViam, by investing in the organization, driving continued excellence in R&D and new products, and by supporting partnerships and M&A.

Emil Anderson, Partner, Nordic Capital Advisors, said: “We are impressed by the ActiveViam team and what they have achieved:  they empower financial organizations to reduce risk and increase revenue by making better decisions, faster. Forty percent of Tier 1 banks worldwide work with ActiveViam technology, and the company has an especially strong footprint in Europe and North America.  With Nordic Capital’s prior experience in banking software, network of senior advisors, and internal operations resources, Nordic Capital is well positioned to support ActiveViam in its next stage of growth. Nordic Capital is excited about partnering with the founders and management to continue the company’s remarkable growth journey.”

Kathy Perrotte, CEO and Co-Founder, ActiveViam, said, “Nordic Capital’s investment is a great opportunity for ActiveViam and great news for our clients, partners and employees. As a large and respected private equity investor, Nordic Capital deploys its significant operational expertise, strategic capabilities and inventive approach to accelerate the growth of the technology leaders it invests in.  Nordic Capital recognizes the power, speed and flexibility of the technology our team has created for our financial services clients, and we look forward to their support as we make further advancements and explore acquisition opportunities.”

Nordic Capital has over 30 years’ experience of accelerating growth of innovative technology companies and is set to leverage its deep sub-sector and operational knowledge to create value and further boost the Company’s ambitious growth plans. As a leading specialized Technology & Payments investor globally, Nordic Capital has to date made 29 technology investments in companies with an aggregate enterprise value of close to EUR 24 billion.

As part of the transaction, Guidepost Growth Equity, which first invested in ActiveViam in 2019, will sell all its shares.

Raymond James was the exclusive financial advisor to ActiveViam on this transaction, and Broadhaven acted as financial advisor to Nordic Capital.

The parties have agreed that the terms of the transaction will not be disclosed. The transaction was completed on February 27, 2024.

About ActiveViam

ActiveViam is a pure player specializing in risk data analytics for the financial services sector, one of the fastest moving and most regulated industries. The Company has approximately 160 employees across offices in New York, London, Singapore, Sydney, Hong Kong, Paris and Frankfurt.  ActiveViam has pioneered the use of high-performance analytics in finance, helping the largest investment banks, asset managers and hedge funds make better decisions, explain results with confidence, and simulate the impact of their decisions. ActiveViam’s mission is to deliver train-of-thought analysis on terabytes of data in the most cost-effective way so its customers can explain their results with confidence and model the scenarios that will optimize their business. For more information please visit: www.activeviam.com.

About Nordic Capital

Nordic Capital is a leading sector-specialist 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 Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested EUR 23 billion in 140 investments. The most recent entities are Nordic Capital XI with EUR 9.0 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.”

Media contacts:

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

US media contact – Brunswick Group
NordicCapital@brunswickgroup.com

ActiveViam
Erica Fidel
Vice President, Marketing
Tel: +1 646 688 4442
e-mail: efi@activeviam.com

Hilary Condit
Communications Consultant
Tel: +1 914 886 5027
hco@ext.activeviam.com

Adelis Equity Partners (“Adelis”) has raised a Continuation Vehicle to invest in Presto AB (“Presto”) and HVD Group (“HVD”, f.k.a. Hantverksdata), two portfolio companies in Adelis Equity Partners Fund II (“Adelis Fund II”). The Continuation Vehicle, which was led by HarbourVest Partners (“HarbourVest”), will invest alongside Adelis Equity Partners Fund III (“Adelis Fund III”) and the Adelis team.

Presto is the leading European player within fire safety and compliance services, having recently entered Germany through the acquisition of Jockel Brandschutztechnik Service GmbH, the German market leader in fire safety. Since being acquired by Adelis Fund II in December 2018, the company has quintupled its revenues to SEK 2.7 billion with healthy profitability.

Erik Hallert at Adelis says “Presto has had an impressive growth journey to date in the Nordics and has furthermore entered the German market through the transformative transaction with Jockel. We are excited about remaining as the majority shareholder in Presto and, together with management, taking part in the company’s continued growth in both existing and new geographic markets.”

HVD recently merged with Next One Technology (“Next”) to form a leading Northern European provider of ERP and project management software for the tradespeople and construction industries. Adelis Fund II acquired HVD in June 2018 and under Adelis’ stewardship, the business has more than tripled in size, increasing its share of recurring revenue from 66% to more than 90%. The merger with Next, in which the EQT X partnership became a co-investor in the group, further expanded the HVD business.

Joel Russ at Adelis says “After being partners with HVD for over five years and watching management and the company successfully develop into a leading, cloud-based software provider to the Nordic market for tradespeople, we continue to believe that the company is well-positioned in an attractive, growth market. We look forward to supporting HVD’s and Next’s continued growth.”

HarbourVest acted as lead investor in the EUR 430 million Continuation Vehicle, augmented by EUR 183 million of capital invested and committed from Adelis Fund III and the Adelis team.

Edward Holdsworth at HarbourVest says “We are pleased to expand our longstanding partnership with Adelis on this transaction and look forward to continuing to support the exciting growth prospects for Presto and HVD.”

Adelis was advised by Akin Gump, White & Case, PwC and Vinge on the transaction.

HarbourVest was advised by Kirkland & Ellis on the transaction.

The transaction is subject to customary regulatory approval and is expected to close in April 2024.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 39 platform investments and more than 200 add-on acquisitions. Adelis manages approximately €3.0 billion in capital. For more information, please visit www.adelisequity.com.

About HarbourVest Partners

HarbourVest is an independent, global private markets firm with 40 years of experience and more than $117+ billion of assets under management as of September 30, 2023. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 1,150 employees, including more than 230 investment professionals across Asia, Europe, and the Americas.  Across our private markets platform, our team has committed more than $58 billion to newly-formed funds, completed over $50 billion in secondary purchases, and invested over $37 billion in directly operating companies. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities. For more information, please visit www.harbourvest.com.

Qics, a leading Dutch provider of professional services automation (PSA), announces the acquisition of ProjectFlow, a Danish software provider for Project and Portfolio Management (PPM).

We are excited about the opportunities this collaboration brings and look forward to the growth and success it will unlock.

– Ivo van Deudekom, Investment Director at Main Capital Partners

NEW YORK, Feb. 20, 2024 – DocuPhase LLC (“DocuPhase” or “the Company”), a provider of accounting and finance process automation software, announces a majority investment from Aquiline Capital Partners LP (“Aquiline”), a private investment specialist in financial services and related technologies, and Level Equity, a private investment firm focused on high growth software businesses.

Based in Tampa, Florida, DocuPhase provides software solutions to over 1,200 customers that enable finance teams to streamline invoicing and payment procedures, saving time, reducing errors, and lowering costs. The Company provides core software solutions across accounts payable automation, accounts receivable automation, and document management.

The investment from Aquiline and Level Equity will allow DocuPhase to continue to drive strong organic growth, expand its product suite, improve its offering through investment in product innovation, and grow its recently launched vendor payments solution to better serve its customer base.

Dan Gaertner, CEO of DocuPhase said: “This investment in DocuPhase marks a significant milestone in our company. The infusion of capital validates our product’s strength and potential while empowering us to accelerate our growth and expand our reach. I’m genuinely excited for our employees and our customers; having the combined support of Aquiline and Level Equity is a game changer for DocuPhase. We are poised to continue innovating and delivering exceptional value to our customers and creating additional career growth opportunities for our employees.”

Joe Pappalardo, a Partner at Aquiline, commented: “In an increasingly digital world, it is imperative for finance departments to drive efficiencies through automation and adoption of best of breed software. DocuPhase’s broad and robust suite of solutions drives real ROI for their customers, and has helped drive the Company’s strong growth and retention. Aquiline is thrilled to partner with Dan and the DocuPhase team to execute our collective vision for the business.”

Ben Levin, Co-Founder and CEO of Level Equity, commented: “Level is excited to make another investment focused on the office of the CFO where we see consistent and continued product innovation driving real business value. Dan and his team have demonstrated the powerful ability to innovate and expand the product suite while simultaneously accelerating growth and profitability.”

Leonis Partners served as the exclusive financial advisor to DocuPhase in the transaction.