Tag Archives: Software

EQT Growth invests EUR 100 million in IntegrityNext, a sustainability software platform dedicated to making supply chains more transparent and compliant

eqt
  • Munich-based IntegrityNext empowers businesses to meet regulatory ESG requirements, manage ESG risks and improve supply chain sustainability.
  • The Company operates in a rapidly growing market that will likely benefit from the introduction of several major regulatory frameworks around climate protection and human rights, as ESG compliance and risk assessment becomes a “license to operate” issue
  • Its cloud-based software platform is used by more than 200 customers, including Siemens Gamesa, Infineon, SwissRe, Kion and Hilti. To date, the company monitors almost 1 million suppliers in more than 190 countries
  • EQT Growth will support the Company as its first institutional investor, leveraging its experience of investing throughout the tech value-chain, global network of sustainability and technology advisors, and in-house teams of digitization and sustainability experts

The EQT Growth fund (“EQT Growth”) has today announced a EUR 100 million investment in IntegrityNext (“the Company”), a sustainability software platform dedicated to enabling supply chain transparency and regulatory compliance. Co-founders Martin Berr-Sorokin (CEO), Simon Jaehnig (CRO) and Nick Heine (COO), who have grown the business whilst bootstrapped to date, will continue to lead the Company.

Founded in 2016 and headquartered in Munich, Germany, IntegrityNext has grown to serve more than 200 customers and monitoring almost one million suppliers, making it one of the leading environmental, social and governance (“ESG”) Certification software solutions in Europe. Its cloud-based platform enables enterprises – such as Siemens Gamesa, Infineon, SwissRe, Kion and Hilti – to assess risk and monitor a large portion of their supply chain for ESG metrics and compliance, allowing them to meet stakeholder demands and regulatory requirements. IntegrityNext has also partnered and integrated with leading enterprise software tools, including Celonis, Coupa and SAP, allowing it to offer supply chain assessments across numerous major industries.

The penetrated market in Europe for sustainability supply chain software solutions is expected to see strong growth over the next years. According to market estimates, the penetrated market is growing by more than 50 percent annually1 with an expected market volume of around EUR two billion in the medium term1,2. This development is driven by the introduction of several major regulatory frameworks across Europe. Most notably, these include the German Supply Chain Due Diligence Act (“LkSG”), the EU’s Green Deal and Corporate Sustainability Reporting Directive (“CSRD”). At the same, increasing stakeholder pressure is also expected to drive market expansion, as ESG compliance and risk assessment becomes a “license to operate” issue for companies worldwide.

EQT Growth will partner with IntegrityNext on the next phase of its growth journey as it looks to further cement its leading position within Germany, while expanding its core product to serve upcoming European regulations. EQT Growth will bring its experience of investing throughout the tech value-chain, supported by EQT’s dedicated in-house teams of digital and sustainability experts and network of 600 advisors. Together, EQT Growth and IntegrityNext will further invest in the tech platform to support the acceleration of the product offering, and position it for long-term success.

Martin Berr-Sorokin, CEO and co-founder of IntegrityNext, said: “The critical importance of ESG is not a new concept to modern businesses. However, as a raft of regulatory frameworks – like Germany’s LkSG or the EU’s CSRD – begin to take effect, supply chain transparency and sustainability is evolving from a nice-to-have to a must-have. As more clients entrust us and we embark on our next stage of growth, we’re excited to be partnering with an experienced and hands-on investor with European roots and global scale like EQT Growth.”

Dominik Stein, Partner in the EQT Growth Investment advisory team who will join IntegrityNext’s Advisory Board, said: “IntegrityNext’s technology provides a streamlined and automated way for customers to easily monitor and certify their supply chain for ESG risks. Their cutting-edge product and large footprint in their home market of Germany positions them well to expand across Europe, as they have already built a significant proprietary supplier database. We look forward to working with Martin and the entire IntegrityNext team as they accelerate on their journey to making supply chains more transparent.”

 

Notes to Editors
1Source: EQT Growth, Internal Market Sizing
2Source: PWC Market-Report

Contact
Finn McLaughlan, +44 77 1534 1608, finn.mclaughlan@eqtpartners.com
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
About EQT Growth

EQT Growth supports leading growth-stage technology companies as they take the next step to scale. The strategy seeks to invest around EUR 50 million to EUR 200 million, backing strong management teams of companies supported by secular macro trends primarily within four tech sub-sectors: enterprise, con/prosumer, health, and climate. Based in five countries across Europe, the EQT Growth team has extensive investing and operating experience that allows it to support its portfolio companies however called upon.

EQT Growth is an investment strategy of EQT, a purpose-driven global investment organization with EUR 113 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

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

 

About IntegrityNext – Boost Supply Chain Sustainability

IntegrityNext is a leading solution for supply chain sustainability management that empowers companies to improve supply chain sustainability and meet regulatory ESG requirements. The cloud-based platform enables companies to quickly and cost-effectively check their supplier base against sustainability-related regulations (e.g. the German Supply Chain Act), standards (e.g. international human and labour rights), and voluntary commitments (e.g. supply chain decarbonization/Net Zero). IntegrityNext helps its clients identify and manage ESG risks along the value chain, reducing reputational and financial risks and improving sustainability performance.

More info: www.integritynext.com

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AB further accelerates growth with Capital A as an investor

Capital-A

Investment company Capital A has acquired a majority stake in AB Software & Consultancy BV (“AB”). An ERP implementation partner and software developer in the manufacturing industry with 4 locations in the Netherlands and a strong focus on Industry 4.0.

AB’s growth ambitions together with Capital A

This investment in AB marks the start of a great collaboration in which we will support AB’s strong growth. Together, we aim to grow broadly within the sector and thus continue to help customers implement smart solutions. This is achieved through organic growth and by expanding the portfolio with additional services and products through buy and build.

A strong foundation for further development

“This collaboration with Capital A is a wonderful milestone for AB. We are extremely proud of AB as an organization,” said Aernout Bos and Nico Bijl, shareholders of AB. “AB is in great shape, thanks to a fantastic team of employees and many great and loyal customers. We are very much looking forward to the next chapter of AB as a company and are convinced that we have found the right partner in Capital A. The great thing about this transaction is that our board members, Roland ten Broeke and Ger Bos, are part of the shareholder base now too. They thus commit to AB for the long term through this transaction. As far as we are concerned, that is also very important for all AB stakeholders involved.” Roland ten Broeke and Ger Bos will continue to jointly carry out the day-to-day operations of AB as directors.

Leaders in digitizing the manufacturing industry

Quinten Birkhoff, Investment Director Capital A: “Recent technological developments offer many opportunities for industrial companies, especially in times when labor is a scarce commodity. AB is a specialist in helping these companies digitize their processes and has grown significantly due to its qualitative approach. We see many opportunities going forward to continue this growth and are therefore looking forward to supporting Roland and Ger and the almost eighty AB employees in this next phase.”

The future of AB and the Digital Factory

AB supports manufacturing companies with their digital transformation. Successful ERP implementations have been carried out at more than 500 production companies throughout various industrial subsectors. This makes AB the largest and most important Exact partner for manufacturing companies in the Netherlands. AB adds value through organizing and automating business processes in a smart way.

AB has also developed its own platform (under the name Digitalefabriek.nl). Customers can structure their own digital factory with the help of this platform. These solutions are marketed under the name of Digitalefabriek.nl, whereby links and integrations with almost all known ERP and other systems (such as CAD, MES, LIMS, etc.) can be realized.

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BASF Venture Capital GmbH invests in WayBeyond

Basf Ventures
  • WayBeyond is a digital agronomy solution combining crop sciences, data and AI to increase crop yield and quality
  • BASF Venture Capital invests in innovative IoT SaaS startup serving the controlled-environment agriculture industry

San Francisco, California, and Mannheim, Germany – March 13, 2023 – BASF Venture Capital GmbH (BVC), the corporate venture capital company of BASF SE, is investing in WayBeyond. Founded in New Zealand and now headquartered in the United States, WayBeyond is an Internet of things (IoT) and software as a service (SaaS) company that aims to improve crop yields, crop quality and grower profitability for low-to-mid tech controlled-environment agriculture (CEA) operations using data capture, farm management, and prediction tools.

CEA refers to a variety of systems that take a technology-based approach to farming, which includes glasshouses, greenhouses, net houses and tunnels. CEA growing operations typically produce tomatoes, berries, cucumbers and peppers. Growth in CEA, specifically low-to-mid tech CEA, is expected to increase steadily as the global population increases and as sustainability goals drive concerns of food shortages, encouraging growers to reduce the environmental footprint of their operations. Major production markets include Mexico, Morocco and Spain, while CEA is also growing in other regions including Southeast Asia, both North Africa and sub-Saharan Africa, and South America. Export markets include the United States and Europe.

WayBeyond is transforming the CEA industry with their data collection tools and AI-powered agronomy insights platform, FarmRoad. FarmRoad is an expert agronomist for every farm that gives growers farm- and crop-specific insights and recommendations to transform their growing decisions, improving yield, consistency and quality for more sustainable farming. WayBeyond also partners with seed producers to utilize the FarmRoad platform and FarmRoad’s crop-contextual AI for seed efficacy and quality transformation.

Markus Solibieda, Managing Director of BASF Venture Capital GmbH, said: “The use of controlled-environment agriculture to grow fruits and vegetables continues to expand globally. As the next generation of growers enters the agriculture industry, we believe that their entry point will be CEA. WayBeyond is positioned to transform the way these CEA farmers grow the crops that will feed our growing population.”

“WayBeyond’s solutions not only help growers visualize their growing operations, but also provide growers with the agronomic recommendations that they need to optimize yield and yield quality,” added Neal Okarter, Investment Manager at BVC in Los Angeles, California.

“We are delighted to have BVC as an investor. As a strategic VC fund, they are in a special position to appreciate WayBeyond as a disruptive business model. We are perfectly aligned around the vision of a digitally empowered, sustainable agricultural industry that will bring vast benefits to the seed and crop protection providers. Together, we are focused on supporting farm operators and growers,” saids Darryn Keiller, Founder and CEO of WayBeyond.

 

About BASF Venture Capital GmbH (BVC)

At BASF, we create chemistry for a sustainable future. BASF Venture Capital GmbH also contributes to this corporate purpose. Founded in 2001, BASF Venture Capital invests in Europe, the United States, Canada, China, India, Brazil, and Israel. Our goal is to generate new growth potential for current and future business areas of BASF by investing in young companies and funds. The focus of our venture investments includes decarbonization, circular economy, agtech, new materials, digitization and new, disruptive business models. www.basf-vc.de.

About WayBeyond

Founded in New Zealand in 2016, WayBeyond creates technology for a better world. Its vision is to transform the agricultural industry so it can produce food sustainably for everyone on the planet.

WayBeyond’s expertise in data, artificial intelligence, and plant science is embodied in its future-focused farming solutions. FarmRoad – a farm management platform with powerful yield prediction and crop registration tools, and Folium – a climate monitoring system which harnesses readings from a network of wireless sensors to deliver detailed data across large growing areas. 

WayBeyond is a B2B business that advocates The United Nations Sustainable Development Goals, while supporting the next generation of growers through community education programs. www.waybeyond.io.

 

Media contact BASF Venture Capital GmbH: Media contact WayBeyond:
Michaela Kemper Kathy Cunningham, Empire PR
michaela.kemper@basf.com kathy@empirepr.co.nz
+49 151 21053504 +6421 743 378

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Reward Gateway acquires Fond – Castic Capital

Castik Capital

Acquisition strengthens HR tech leader’s offering in global employee engagement.

Reward Gateway, a global HR technology and employee engagement company, today announced they have acquired Fond, a leading U.S. provider of employee recognition, rewards and perks. This follows Abry Partners’ and Castik Capital’s recent acquisitions of Reward Gateway, Xexec and MoveSpring.

Nick Burns, CEO of Reward Gateway said:
“With continued investment and support from Abry Partners and Castik Capital, we are thrilled to welcome Fond to Reward Gateway. We remain laser focused on advancing the employee experiences that drive engagement, wellbeing and performance. Fond is a welcome addition to our mission to make the world a better place to work.”

Taro Fukuyama, CEO of Fond, said:
“Fond has been on an incredible journey since 2012 when we first started helping companies build places where employees love to work. Joining Reward Gateway and Xexec under the Abry Partners and Castik Capital umbrella is an incredible opportunity to further advance our mission on a global scale.”

About Fond

Fond is a U.S. rewards and recognition platform that helps companies build a happier workforce with an easy-to-use, simplified solution. Our software offers a customizable employee recognition program with monetary and non-monetary rewards that’s fully scalable for your organization. Enterprise customers include Salesforce, Weight Watchers, and MAPCO.

About Reward Gateway

Reward Gateway helps companies engage, motivate and retain people – every day, all over the world. Partnering with over 4,000 companies in 23 countries, we empower more than 6.5 million employees to connect, appreciate and support one another to make the world a better place to work. Our unified employee engagement hub provides the best of recognition, reward, wellbeing, surveys, benefits and discounts that support talent acquisition, retention and values-driven growth. Clients include American Express, Unilever, Samsung, IBM, McDonald’s and more.

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Investcorp acquires NetRom Software

Investcorp

Investcorp Technology Partners (“ITP”), a leading global technology investor, today announced that it has agreed to acquire a majority stake in NetRom Software (“NetRom” or “the Company”), a leading cloud-first, digital transformation and software engineering firm in the Benelux region. NetRom’s founders, management team and IceLake Capital, will continue to remain shareholders in the business alongside ITP. Terms of the transaction were not disclosed.

Headquartered in Utrecht, the Netherlands, NetRom provides business-critical software engineering solutions, development support and adjacent services to a portfolio of diversified and blue-chip customers in Western Europe and North America, including for example VodafoneZiggo, Transdev and LeasePlan.

NetRom’s long-term commitments to its customers and employees are key elements of its success, resulting in a strong track record of profitable growth, having more than doubled its revenues in the last five years.

ITP’s investment is expected to accelerate the Company’s ambitious growth plans. The Company currently has approximately 500 highly-qualified engineers across 4 offices in the Netherlands and Romania. ITP expects to continue to invest in strengthening its delivery platform, as well as further expanding existing and new service areas, industry verticals and geographies.

ITP has established a market-leading position of investing in lower mid-market technology companies with a specific focus on Software, Data / Analytics, Cyber Security, and Fintech. The investment in NetRom represents the third investment from ITP’s global fund, Investcorp Technology Partners V following its investments in HWG (Cybersecurity) and Zift Solutions (Software).

Georg Knoflach, Managing Director at ITP, stated, “Investcorp Technology Partners is pleased to be partnering with NetRom, a high-growth company offering mission critical products and services to the European software market. We have been impressed not only by the growth trajectory of the Company over the last decade, but also by the founders’ and management team’s incredible commitment to their customers, employees, and state-of-the-art facilities. We are looking forward to working with NetRom’s co-founders and the rest of the NetRom team on their next stage of critical growth.”

Bastiaan Hagenouw, partner at IceLake added: “After closely working with the NetRom management team for the past three-and-a-half years and achieving many milestones, IceLake is excited to continue the growth story together. With great trust in the management team and Investcorp, IceLake is proud and thrilled to continue the journey with NetRom to realise their ambitious goals.”

Han In’t Veld founder and CEO of NetRom, added: “For NetRom it’s a big accomplishment to be able to team up with the professionals at ITP. We see this as a logical and essential step in our journey towards becoming a significant player in the outsourced software product development space. The team at ITP have extensive experience and a long track record of supporting growth in businesses like ours. Together with ITP we will have the means to service our customers better, to increase market share and to conquer new geographical target areas.”

Mircea Negrila co-founder and CTO of NetRom added: “We are excited to be able to team-up with ITP which will allow us to move full speed ahead with the development of the NetRom campus and the NetRom educational programs. Creating state-of-the-art and inspiring, innovative working conditions is a key component of our talent acquisition strategy and our student academy programs have proven to be of critical value for the development of our organization. With the highly complementary skillset and experience that ITP put on the table, we created ideal conditions for further growth.”

Investcorp Technology Partners was advised by PhiDelphi Corporate Finance (M&A advisory), McDermott Will & Emery & Orange Clover (Legal), PwC (Commercial), KPMG (Financial & Tax), Willkie Farr & Gallagher (Legal – Financing), and Marlborough Partners (Debt Advisory). NetRom and IceLake Capital were advised by Houlihan Lokey (M&A Advisory), Allen & Overy (Legal), BCG (Commercial) and Deloitte (Financial & Tax).

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Transit tech company Via raises $110M at $3.5B valuation

83North logo

On-demand shuttle service and transit tech company Via has raised another $110 million, bringing the company’s total funding to around $1 billion. The fresh capital pushes Via’s valuation up to $3.5 billion at the same price per share as the company’s previous financing in November of 2021.

Via intends to use the funds to further its vision of being “able to provide every city in the world access to this end-to-end digital infrastructure, where they can plan, operate, analyze and continue to optimize their transit networks across every vertical in that transit network,” Daniel Ramot, Via’s CEO and co-founder, told TechCrunch.

Via’s transit tech software helps public transportation agencies, municipalities and school districts optimize fixed bus routes, strategize placements of new bike lanes, plan paratransit and school bus services, and holistically incorporate private on-demand ridesharing services into a city’s entire transportation ecosystem. The company has already scaled to 600 communities and more than 35 countries.

As new mobility segments continue to emerge, threatening to cramp already congested streets and decimate already tight budgets, Ramot thinks the startup can do more.

Either through in-house development or mergers and acquisitions, Via wants to use the funds to add more products to its suite of tools. The company is still considering its options, but a few ideas Ramot and I tossed around the idea of expanding Via’s street map making software to include planning for traffic lights and speed bumps; adding parking and curb management software; managing fleets of electric vehicles and their many chargers; integrating micromobility planning; and incorporating autonomous vehicles into the mix.

Via is currently working with AV companies Motional and May Mobility to deploy autonomous ridesharing shuttles in Las Vegas, Nevada and Grand Rapids, Minnesota, respectively.

“The idea would be that you’d use our tools to plan the infrastructure in the most effective, safest, most efficient way, and then design the transit network that sits on top of that infrastructure,” Ramot told TechCrunch. “Potentially we’d be interested in control access, also. Right of way through traffic lights, for example — if you have a bus show up at a traffic light with 50 people on it, and then a car with one person, the traffic light’s not smart enough to give the bus right of way, but you would probably want it to do that. And those are just supply/demand-matching algorithms, which our system is very good at doing.”

Via’s fundraise comes at a time when startups are thirsty for fresh cash and investors are being picky. Ramot says Via is, in some ways, at the right place at the right time — transit agencies are still reeling from the effects of COVID-19 on ridership patterns, and they’re more amenable to being ushered into the 21st century with digital tools and datasets.

“In the past, it’s been very difficult to convince cities and transit agencies to adopt new technology, to transition to more dynamically routed or data-driven services,” said Ramot. “I won’t say it’s easy, but it’s become easier.”

Via has also been able to show investors that it’s got a sustainable business. The company said it ended 2022 with an annualized revenue run-rate surpassing $200 million, which is more than double since its previous $130 million financing round in November 2021.

That’s around the time Via confidentially filed to go public. The company has yet to move forward on that given the market volatility of the past year, but Ramot said Via is very much prepared to make its debut once the market opens up and if it makes sense to do so. While Via didn’t need to raise more funds to continue operating at its current clip, the funds also give the startup the “optionality” to go public when the timing is right, says Ramot.

The $110 million came from a combination of new and existing investors. 83North led the round, with participation from Exor N.V., Pitango, Janus Henderson, CF Private Equity, Planven Entrepreneur Ventures, Riverpark Ventures and ION Crossover Partners.

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GreenSlate Announces Strategic Growth Investment from Francisco Partners

Franciso Partners

NEW YORK & SAN FRANCISCO – GreenSlate, a leading provider of payroll and production accounting solutions for the entertainment industry, today announced a strategic growth investment from Francisco Partners (“FP”), a leading global investment firm that specializes in partnering with technology businesses. GreenSlate’s Founder and CEO, John Finn, will remain a significant equity holder. As part of the transaction, VSS Capital Partners (“VSS”), a private investment firm and an existing investor in the business, will make a new equity investment into the Company.

Established in 2004, GreenSlate has transformed the payroll and accounting process for content producers with its technology-driven solutions. With its comprehensive all-in-one platform, production accountants can more efficiently track production expenses and pay their crew. Today, GreenSlate manages some of the largest episodic budgets in production and supports some of the biggest names in the entertainment industry, including Netflix, Paramount, Imagine Entertainment, Tyler Perry Studios, and many others. With its proven track record, scalable and modern solution, GreenSlate is elevating the standard of productivity and service for production finance professionals.

John Finn, GreenSlate Founder and CEO, said, “We are very excited to announce this new investment from Francisco Partners, which will allow us to accelerate our innovation and continue to focus on providing best-in-class service and state-of-the-art technology to our customers. Our approach to supporting production teams and production accountants specifically has been unique from the get-go. We’ve designed our platform from the ground up with digital workflows at the core and a mission to use technology to make every aspect of payroll and production accounting easier, more accurate, and more secure for every customer and the crews they employ. This new investment and partnership with FP will enable us to further advance that mission.”

“We are thrilled to partner with John and GreenSlate on the next phase of the Company’s growth journey. John and his team have done an exceptional job building a market-leading platform in the entertainment industry and their roadmap for future innovation is especially exciting,” said Ashley Evans, Partner at Francisco Partners.
“The GreenSlate platform is highly differentiated in its category and is uniquely positioned to help content producers streamline their financial workflows and better leverage their data. We are very excited to partner with GreenSlate to continue to extend its technology leadership in the industry,” added Kevin Wei, Principal at Francisco Partners.

Trent Hickman, Managing Director at VSS, said, “When we initially invested in GreenSlate in 2018, we were very excited by GreenSlate’s vision and capacity to drive real change in its market sector. Since then, GreenSlate has delivered tremendous growth, led by its digital-first platform and commitment to the highest levels of customer service. With FP’s partnership, we are delighted to continue to support the Company through its next stage of growth.”

The transaction closed in February 2023. Financial terms are not being disclosed.

American Discovery Capital served as financial advisor and Ropes & Gray LLP served as legal advisor to GreenSlate. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal adviser to Francisco Partners.

About GreenSlate

GreenSlate is a provider of technology-enabled payroll and accounting solutions for the entertainment industry. Leveraging nearly two decades of experience in the entertainment industry, GreenSlate advances the business of content production by seamlessly integrating people, processes, and technology to meet the essential business needs of content producers.
Simplifying what shouldn’t be complicated, GreenSlate builds the industry’s most intuitive production accounting software, paperless payroll processing, and digital workflow solutions, with more innovative applications and products on the way. From budget to delivery, GreenSlate’s technology, tax management, and benefits services enable production teams to focus more on what they do best – creating inspiring content. For more information on GreenSlate, please visit www.gslate.com.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

About VSS

VSS is a private investment firm that invests in the healthcare, education, and business services industries. Headquartered in New York, VSS provides capital for growth financing, recapitalizations, strategic acquisitions, and buyouts to lower middle market companies and management teams with the goal of building companies organically as well as through a focused add-on acquisition program. VSS makes privately negotiated investments across the capital structure and invests in situations requiring control or non-control equity, mezzanine securities, and structured equity securities. VSS has over three decades of experience, made investments in 95 portfolio companies, with over 400 add-on acquisitions, and manages $4 billion in aggregate committed capital across 8 funds. For more information, please visit: www.vss.com.

Media Contacts

GreenSlate
Courtney Kulkarni
courtney.kulkarni@gslate.com

Francisco Partners
Whit Clay / Sarah Braunstein
wclay@sloanepr.com / sbraunstein@sloanepr.com

VSS
Katrin Lieberwirth
klieberwirth@stantonprm.com

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Magaya completes equity recapitalization led by the Apax Digital Funds

Apax Digital

Investment follows a year characterized by record bookings growth and accelerating adoption of Magaya products by mid-market and enterprise profile international logistics provider (“ILP”) customers

Miami, FL – January 31, 2023 – Magaya Corporation (“Magaya” or the “Company”), a leading provider of supply chain automation and logistics software, today announced that funds advised by Apax Digital, the growth equity arm of global private equity advisory firm Apax, completed a recapitalization of the Company alongside existing investor LLR Partners and other shareholders. The investment will be used to support continued organic growth, platform enhancements, and strategic M&A.

Founded in 2001, Magaya’s comprehensive suite of solutions is proving to be more critical than ever as ILPs face an increasingly dynamic global trade environment with the recent global pandemic, geo-political uncertainty, and economic challenges compounding the everyday pressures faced by customers. Within this context, supply chain stakeholders are turning to digital and software solutions to become more adaptable, agile, and resilient to remain competitive.

“Magaya’s Digital Freight Platform enables logistics service providers to digitize manual processes, optimize operations and achieve real-time visibility through its highly configurable software suite, clear and transparent pricing model, and commitment to customer service and training. A key tenet of the Apax Funds’ thesis is to build upon Magaya’s momentum and expanding list of US and international enterprise profile customers by further increasing the company’s investments to satisfy their growing requirements,” said Dave Evans, Partner at Apax.

“Over the last 20 years, Magaya has created a stand-out product offering that is valued and relied upon by more than 2,300 customers across the globe. We are proud to have LLR’s continued support and look forward to leveraging Apax’s global footprint and operating resources. My team and I look forward to Apax and LLR’s combined experience helping software businesses scale as well as their commitment to continue to support Magaya’s geographic and product expansion through organic investment as well as strategic M&A,” added Gary Nemmers, CEO at Magaya.

“We want to thank Magaya’s founders Jesus, Jose and Gabriel for their commitment over the past twenty years, and for leading Magaya to this important milestone. Since investing in the business in 2019, we’ve made significant progress, investing in the team and product while expanding the platform’s capabilities through M&A. We look forward to building on this success to date alongside Apax Digital,” said David Reuter and Michael Pantilione, Partners at LLR Partners.

As part of the transaction, Dave Evans and Dave Eckley (Operating Advisor in Apax’s Operational Excellence team) will join David Reuter, Michael Pantillone, and Gary Nemmers on Magaya’s board. Magaya’s founders, Jesus Rodriguez, Jose Yoniel Garcia, and Gabriel Ruz Jr., whose “vision and expertise created the foundations of our success to date,” said Gary Nemmers, will remain minority shareholders.

For more information about Magaya’s solutions for freight forwarders, customs brokers, and other international logistics providers please visit www.magaya.com.

Harris Williams LLC served as financial advisor to Magaya in connection with this transaction.

 

About Magaya 

Magaya delivers a Digital Freight Platform that accelerates growth with flexible, interoperable, and modular cloud-based solutions designed to optimize and digitize the entire logistics operations and customer experience. Whether used together as an integrated digital freight platform or independently, Magaya solutions enable businesses of all sizes to streamline complex and redundant processes, enhance the customer experience, optimize productivity, reduce costs, and grow revenue. At Magaya, we are passionately devoted to ensuring our customers’ success through our innovative technology and comprehensive array of related professional services. We take great pride in our people, experts in the field of logistics automation, who are always willing to go the extra mile for our customers. There are no limits to your growth with Magaya.

 

About Apax and Apax Digital  

The Apax Digital Funds specialize in growth equity and growth buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide. The Apax Digital team leverages Apax’s deep tech investing expertise, global platform, and specialized operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. For further information, please visit www.apaxdigital.com.

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. These funds provide long-term equity financing to build and strengthen world-class companies. For further information, please visit www.apax.com.

 

About LLR Partners 

LLR Partners is a private equity firm investing in technology and healthcare businesses. We collaborate with our portfolio companies to identify and execute on key growth initiatives and help create long-term value. Founded in 1999 and with more than $5 billion raised across six funds, LLR is a flexible provider of equity capital for growth, recapitalizations and buyouts. Learn more at www.llrpartners.com/.

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BizzMine and VARIO join forces in the digitization of Quality, Safety and Environment (QMS – QHSE)

Fortino Capital

Kortrijk and Zottegem, January 30, 2023 – BizzMine and VARIO (Incerta) today announce their collaboration. Investment company Fortino Capital acquired a significant stake in BizzMine early last year and now supports this merger. The 3 parties have big plans and strongly believe in the synergy of quality management software and safety software. With 900 customers in more than 40 countries, Flanders has gained an ambitious digital player that plays a leading role in the QHSE market.

The need is high

In times of uncertainty, the demand for QHSE (Quality Health Safety Environment) software is high. Proper tracking of complaints, monitoring quality in the transportation of medicines, reducing industrial accidents, correctly complying with environmental legislation, or obtaining ISO certificates… These are just some of the applications that BizzMine and VARIO bring to the market. Users of BizzMine and VARIO users are not only covering risks better, but also strongly increasing transparency and efficiency of their organization.

 

Perfect synergy

Together, the two Flemish companies form an ideal software tandem. BizzMine is a digital platform for quality management (QMS) that enables organizations to centralize and manage all data related to complaints, audits, documents, training, etc. VARIO is a trendsetter in software for the management of safety, prevention and well-being in the workplace and facilitates the acquisition and maintenance of a VCA or ISO certificate. With their combined knowledge and experience, they can now address a wide range of sectors and respond to the growing demand for a SaaS solution for Quality and Safety Management.

 

Strong together, 1+1+1=5

Since Fortino Capital joined BizzMine less than a year ago, the team has experienced the positive dynamics of this collaboration. The growth acceleration immediately became concrete and international, the enthusiasm and confidence of the employees are increasing, and great progress is being made in sales, marketing, HR, corporate structure, reporting, etc.

As of today, Fortino’s experience and know-how will be further applied to actively support the expansion of the united team. To continue the growth, the current team of 60 employees will be significantly increased.

Chris Heyndrickx, Managing Director VARIO: “By joining forces with BizzMine, a complementary QMS company, and partnering with Fortino as a strategic investment company, we are positioning ourselves for unprecedented international growth in the QHSE market. This powerful combination will enable us to offer a broader range of innovative solutions, expand our reach into new markets, and provide unparalleled customer support. In this way, we will not only grow our QHSE business, but also revolutionize the industry and seek to shape the future of QHSE together.”

Chris Heyndrickx, Managing Director VARIO

Peter De Brabandere, Founder BizzMine: “With VARIO joining BizzMine, our solid growth story gets a big boost. The market is increasingly demanding solutions for integrated management systems, which we can now offer perfectly together. We also complement each other very well in terms of solutions for specific industries. We want to use our experience in international expansion to open up new markets at home and abroad with a broader product portfolio. Our goal is to become a leading European player in the coming years.”

Peter De Brabandere, Founder BizzMine

Jeroen Van Godtsenhoven, Partner at Fortino Capital: “The merger of BizzMine and VARIO is a step that supports our goal of becoming a leader in the QHSE market. The focus on Quality, Safety and Environment is increasing, and we are taking that opportunity. BizzMine and VARIO are leaders in their fields and Fortino is excited to put its shoulders to the wheel.”

Jeroen Van Godtsenhoven, Partner at Fortino Capital

About VARIO (Incerta)

Since 2008, Incerta BV has been operating as an IT and consulting firm focused on enterprise security policy consulting and software support. In a unique way, the team has translated its knowledge and experience with healthcare systems into a standard QHSE software package VARIO that evolves with the needs of the market. Today, more than 500 companies are already working with VARIO, including government institutions, multinationals, and SMEs. Some examples are Alheembouw, Vandersanden or the Flemish Government. For more information www.variosoftware.be

 

About BizzMine

Founded in 1995 as Vivaldi Software, BizzMine develops Cloud and web-based quality management and workflow software. The platform helps customers to better track complaints, incidents, risks, documentation, audits, calibrations, improvement actions, training, etc. BizzMine has a global presence through its diversified customer base in 40 countries and local offices in Europe, the U.S., the U.K., and Asia. Companies using BizzMine software include H.Essers, Oatly, Carbogen Amcis, Kloeckner. For more information please visit www.bizzmine.com

 

About Fortino Capital

Fortino Capital is an investment company focused on B2B software and ICT. Our mission is to help ambitious management teams realize their growth plans. We invest in young companies (venture capital) and established companies (growth capital) where growth is an essential part of the strategy. Fortino has offices in Belgium, the Netherlands and Germany and invests in Northwest Europe. Fortino’s previous investments include People Intouch, VanRoey, Odin Group, Teamleader, Efficy CRM, SigmaConso, Cenosco, MobileXpense, iObeya, etc.

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Montagu agrees to sell Maincare

Montagu

Montagu, a leading European private equity firm, is pleased to announce that it has agreed to sell Maincare, a provider of software for French public hospitals and health authorities, to Docaposte, the digital arm of La Poste, the French postal service.

Maincare provides an end-to-end hospital information system offering in France, where it is a leader in electronic patient records as well as hospital administration, interoperability, and telemedicine solutions. Through its integrated software suite, it assists public hospitals, payers, and insurers to implement successful digital strategies for the benefit of patients.

Since Montagu acquired Maincare in 2018, it has worked with the business to respond to the rapidly changing needs of policymakers and hospitals, in particular in the wake of the Covid-19 pandemic. Significant investments in R&D led to the development of new-generation electronic patient records as well as the modernisation of Maincare’s technology ensuring that products are interoperable, SaaS-ready, and at the forefront of innovation in terms of cyber-security.

Under Montagu’s ownership, Maincare’s historically acquired business lines were combined from an organisational and technology standpoint, introducing a shared vision and strategy to the business and driving efficiencies. Led by a strong and unified management team, the changes helped to establish a customer-centric culture which put the needs of medical personnel and patients at the centre of the organisation.

Montagu Partner Guillaume Jabalot said, “Maincare is a great example of Montagu’s strategy of partnering with leading companies offering critical products and services. We are proud of the success Maincare has achieved and we are certain that the company will continue to thrive under the ownership of Docaposte. We especially would like to thank the management team and all Maincare’s employees for their hard work and dedication and we wish them all the best on their future journey.”

Maincare is a great example of Montagu’s strategy of partnering with leading companies offering critical products and services.

Guillaume Jabalot, Partner, Montagu

François-Xavier Floren, CEO of Maincare, commented: “The partnership with Docaposte will allow us to address one of the major challenges of our market – the importance of offering customers long-term support with a trusted partner present in software, hosting and services. Over the last two years, with the support of Montagu, we successfully carried out a transformation plan aimed at improving one of the persistent challenges of the French hospital system by “Giving time back to the Caregivers”. The management team and all Maincare’s employees are confident that the partnership with Docaposte will bring further significant value to our clients and to the market.”

Over the last two years, with the support of Montagu, we successfully carried out a transformation plan aimed at improving one of the persistent challenges of the French hospital system by “Giving time back to the Caregivers”.

François-Xavier Floren, CEO, Maincare

The transaction remains subject to the approval of the French competition authority.

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