Category Archives: News

KREST Grows Multifamily Portfolio with Acquisitions in Brooklyn and Philadelphia

KKR
November 1, 2022

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR Real Estate Select Trust Inc. (“KREST” or the “Fund”) has completed the purchases of two Class A multifamily properties with a combined 1,380 units from different sellers in separate transactions. The latest additions to KREST’s portfolio include a full-service, LEED Silver multifamily property located in Downtown Brooklyn and a highly amenitized multi-building asset located on the border of the Main Line and West Philadelphia.

“We continue to see long-term trends supporting demand for lifestyle-oriented real estate near city centers,” said Daniel Rudin, Managing Director on KKR’s real estate equity team. “Both of these assets are well-located from a live/work perspective and are ideal for younger working professionals seeking quality lifestyle-oriented housing with easy access to major cities.”

The Downtown Brooklyn asset is a trophy, 2011 vintage, full-service residential property with modern finishes and amenities, including an outdoor terrace, fitness center, 24-hour doorman, and a children’s playroom. The property is comprised of 365 rental units positioned in one of the top-performing Brooklyn submarkets, within walking distance of several public transportation stations, servicing all of Manhattan’s critical transportation lines.

The Philadelphia asset, purchased alongside Mack Real Estate Group (MREG), is an integrated five building complex comprising 1,015 units. Located on the border of Lower Merion Township in the Main Line and West Philadelphia, the property provides easy access to Center City and to numerous nearby universities and hospitals. Gut-renovated in 2015, the property offers best-in-class amenities, including a pool club, lounge, fitness center, and dog park. Mack Property Management, L.P., a wholly-owned subsidiary of MREG, will handle property operations. The transaction is KKR’s second Philadelphia multifamily acquisition with MREG.

“We are pleased to grow KREST’s exposure to income-generating residential properties with these two investments. KREST acquired both properties using irreplaceable long-duration fixed-rate financing, which creates compelling cash yields,” said Billy Butcher, Chief Executive Officer of KREST and Chief Operating Officer of KKR’s global real estate business. “We continue to add high-quality properties to our growing portfolio of multifamily assets and believe these properties offer attractive value to a wide range of residents.”

The acquisitions are part of KREST’s stabilized real estate investment strategy, one of the Fund’s three primary investment strategies, which focuses on thematically-driven, income-generating real estate in high growth markets, including well-leased multifamily. KREST’s other focus areas include prime single tenant real estate and private real estate debt.

About KREST

KKR Real Estate Select Trust Inc. (“KREST”) is a continuously offered, registered closed-end fund that thematically invests in high quality, stabilized, income-oriented commercial real estate equity and debt. The fund is open to all investors with daily subscriptions and its primary investment objective is to provide attractive current income, with a secondary objective of long-term capital appreciation. KREST is managed by KKR Registered Advisor LLC, an affiliate of KKR & Co. Inc., and utilizes the experience and reach of KKR’s global real estate team and the resources available through the KKR platform. For additional information about KREST, please visit its website at www.krest.reit.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as 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 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.

Media Contacts
Miles Radcliffe-Trenner and Emily Cummings
+1 212-750-8300
media@kkr.com

Source: KKR

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Corus grows in Spain with the acquisition of two laboratories in Seville and Madrid

Careventures

Corus added to its network the Manuel Peña Capuz laboratory in Seville and the Villadental center in Madrid, located in San Sebastián de los Reyes.

Corus goes on and on. The Spanish group of dental laboratories continues with its commitment to growth in Spain and has acquired two new laboratories in Seville and Madrid. The company based in Sant Cugat del Vallès (Barcelona) has integrated into its network the Manuel Peña Capuz laboratory, a center specialising in dental prostheses located on Martínez de Medina street in Seville. The facility works with fixed, removable and combined prostheses. In addition, Corus has integrated into its network the Villadental laboratory, directed by Ignacio Villafáñez, which is located on Calle Gomera in San Sebastián de los Reyes (Madrid). The two facilities work together to offer their products to clinics and professionals in the dental sector.

Corus has recently strengthened its position in Northern Europe with the acquisition of Nordentic.

Corus is a Barcelona-based company specialised in dental prosthetics and orthodontics. Since its creation in 2015, the company has integrated dental prosthetic laboratories distributed between Spain, France and Portugal, mainly. Corus operates as an integrated digital platform where dentists can interact with the local laboratory and the patient at the same time, guaranteeing prescription traceability and the necessary information to realise products and services tailored to the patient. Corus’ main shareholders are Careventures and Quadrum Capital. The former is a Private Equity firm with offices in Barcelona and Brussels, specialised in investments in healthcare services. Careventures has accumulated more than one hundred transactions in ten different countries, with more than 6,000 employees in the companies it manages. Quadrum Capital is a Private Equity firm with offices in Woerden and Almelo, both in the Netherlands.

The company aims to close 2022 with a turnover of €180m.

Last August, Corus acquired Nordentic, a Scandinavian company that operates in the same sector, but in Sweden, Norway and Denmark. The purchase followed another operation that the Spanish company carried out in March 2022, when Corus acquired the Dutch company Signadens. With all the operations carried out, Corus will together manage a network of more than 60 laboratories and more than 1,500 employees. The company started the year aiming for a turnover of €100m euros in 2022, but now the forecast is around €180m. This would mean doubling the turnover with which it started the year, with €73m.

The link to the article can be found here.

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Borromin acquires a stake in EBERLE

Borromin

Frankfurt am Main, November 2022. As part of a management buy-out Borromin Capital Fund IV has acquired a stake in Eberle Controls GmbH (EBERLE). The parties have agreed not to disclose the terms of the acquisition.
EBERLE is a leading German provider of innovative heating and air conditioning solutions for private households as well as public and commercial buildings. The company’s focus is on energy efficient temperature control and the technical electric installation products required for this. From its site in Nuremberg the company covers the entire value chain from R&D and component procurement to assembly, testing, sales, warehousing, and after-sales services. Together with EBERLE’s management, who acquired a stake in the company as part of the transaction, Borromin will support the geographical expansion of the company and the ongoing strategic development of the group and its employees.
Marco Bernecker, Managing Partner at Borromin: “EBERLE’s business development has been impressive. We were convinced by its management’s passion for high-quality, innovative, and sustainably produced products. Due to the increasing importance of energy-saving solutions in the field of heating and air-conditioning technology and with its more than 90 years of expertise in temperature control, we believe that the company is very well positioned. We are convinced that EBERLE will have excellent growth opportunities in the future, both organically and through acquisitions.”
Norddeutsche Landesbank supports the transaction with acquisition financing and a working capital facility.

EBERLE
EBERLE was established in 1932 as a specialist for industry relays. Since then, the company has developed a strong focus on temperature control solutions and is today the market leader for innovative heating and air conditioning solutions in Germany. With a product range of approximately 560 products,
the company and its 160 people serve both OEMs as well as electrical and plumbing wholesalers. EBERLE’s customers especially appreciate the high quality and reliability of their products which undergo a fully automated inspection and testing process prior to shipment.

BORROMIN
Borromin is an independent private equity company focusing on medium-size businesses within German speaking Europe and Benelux countries. Funds initiated and advised by Borromin invest in mid-size companies providing equity for succession issues, management buy-outs and also provide capital for growth opportunities. Borromin was founded in 2001 and follows a successful, value-oriented strategy of investments in profitable companies in various sectors.
Borromin Capital Fund IV (Borromin Capital Fund IV SCS, SICAV-RAIF) benefits from the financial backing of the European Union under the European Fund for Strategic Investments (“EFSI”) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.

CONTACT
Regarding this transaction
Marco Bernecker Dr. Marc Schilling
Managing Partner Investment Professional / Prokurist Borromin Capital Management GmbH Borromin Capital Management GmbH
+49 69 50685-250 +49 69 50685-310
bernecker@borromin.com schilling@borromin.com

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Balance Point Announces its Investment in CraneTech Inc.

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Balance Point Capital
Westport, CT, October 31, 2022 – Balance Point Capital Advisors, LLC (“Balance Point”), in conjunction with its affiliated fund, Balance Point Capital Partners IV, L.P., is pleased to announce its investment in CraneTech Inc. (“CraneTech” or the “Company”), a portfolio company of Steel River LLC (“Steel River”). Balance Point delivered a comprehensive financing solution that provides meaningful capital to support the future growth of the business.
Founded in 2004 and headquartered in Stockton, CA, CraneTech is a leading provider of overhead crane inspection, maintenance, and manufacturing services across the U.S. CraneTech serves a variety of customers and end markets, including the manufacturing, aerospace & defense, automotive and metals industries, among others. The Company was acquired in 2021 by Steel River, which is a permanent holding company created to build the next generation of industrial services businesses across the lower middle market. Steel River has completed six tuck-in acquisitions at CraneTech since its initial investment.
“We are pleased to partner with CraneTech and Steel River on this transaction,” said Seth Alvord, Managing Partner at Balance Point. “We believe there is significant white space for growth in this business and we are excited to support the Company and team going forward.”
Austin King, CraneTech CFO and Co-Founder of Steel River, said “We are thrilled to have Balance Point as a partner. Their deep understanding of our business, long-term alignment, and capital flexibility will provide the support necessary to execute on our growth objectives.” Eric Factor, CraneTech CEO and Steel River Co-Founder, added, “Balance Point provided a creative and unique solution that matched our needs and boosts our ability to pursue our growth initiatives while creating the best workplace in the industry for crane technicians and providing best-in-class, mission-critical services for our customers.”
About Balance Point
Balance Point is an alternative investment manager focused on the lower middle market. With approximately $1.7 billion in assets under management, Balance Point invests debt and equity capital in select lower middle market companies across a variety of investment vehicles. Balance Point takes a long-term, partnership approach to investing and is committed to building lasting relationships with its partners, management teams and intermediaries.
Balance Point is a registered investment advisor. Further information is available at www.balancepointcapital.com.

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Emerson to Sell Majority Stake in Climate Technologies to Blackstone in Transaction Valuing the Busin

Blackstone

Blackstone to Help Power Next Phase of Growth for Climate Technologies

ST. LOUIS and NEW YORK – October 31, 2022 – Emerson (NYSE: EMR) today announced a definitive agreement under which it will sell a majority stake in its Climate Technologies1 business to private equity funds managed by Blackstone (“Blackstone”) in a transaction valuing Climate Technologies at $14.0 billion. Emerson will receive upfront, pre-tax cash proceeds of approximately $9.5 billion while retaining a non-controlling ownership interest in a new standalone joint venture.

The standalone Climate Technologies business includes the market-leading Copeland compressor business and the entire portfolio of products and services across all HVAC and refrigeration end-markets, representing approximately $5.0 billion of fiscal 2022 sales.

Management Comments

“Today’s announcement is a definitive step in the portfolio journey we embarked on when I became CEO in early 2021,” said Lal Karsanbhai, President and Chief Executive Officer of Emerson. “Over the past 18 months, the Emerson team has accelerated our portfolio transformation, divesting non-core businesses including InSinkErator and Therm-O-Disc, while investing in organic growth opportunities and important transactions including AspenTech. Our journey has been with clear purpose – to drive growth and significant value creation for our shareholders by creating a leading global automation company. Our differentiated capabilities in intelligent devices and software, and the focus, cohesiveness and operating agility of a pure-play company, will allow Emerson to bring our comprehensive automation products and solutions to a diverse set of end markets.”

“This transaction enables Emerson to partially monetize our Climate Technologies business at an attractive valuation and provides significant upfront cash proceeds to invest in growth, while at the same time enabling Emerson to participate in Climate Technologies’ upside potential upon exit of our non-controlling position,” continued Mr. Karsanbhai. “We are excited to partner with Blackstone given its successful history of value creation in collaboration with corporate partners. We look forward to working closely with Blackstone to ensure a smooth transition for Climate Technologies’ employees and customers.”

Joe Baratta, Global Head of Blackstone Private Equity, commented, “Blackstone has a long and successful track record of large-scale corporate partnerships, a key pillar of our investment strategy. This is a marquee transaction for our private equity business and a testament to our ability to deliver solutions to our partners even in difficult economic and market environments. We are proud to be partnered with Emerson to help drive the next stage of growth for this great business. Copeland is the market leader in supplying critical components for residential, commercial and refrigeration climate control systems. The business is poised for accelerated growth as it leads the way in helping consumers and businesses shift to more energy-efficient heating and cooling products as part of their carbon reduction efforts. We are thrilled to back the business’ dedicated team as they continue to innovate and deliver energy-efficient solutions to their customers.”

Transaction Details

Climate Technologies had fiscal 2022 net sales of $5.0 billion, pre-tax earnings of $1.0 billion and EBITDA2, including standalone costs, of $1.1 billion. The transaction values Climate Technologies at $14.0 billion, representing a multiple of 12.7x fiscal 2022 EBITDA2, including standalone costs. Emerson will receive upfront, pre-tax cash proceeds of approximately $9.5 billion and a note of $2.25 billion at close and retain 45% common equity ownership of the standalone Climate Technologies business, which will be structured as a joint venture between Emerson and Blackstone, until its potential sale or IPO. The cash consideration will be funded by $5.5 billion of fully committed debt financing ($6.2 billion inclusive of an unfunded ABL facility) and $4.4 billion of equity contribution from Blackstone. A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and GIC will invest alongside Blackstone as part of the transaction.

Timing and Other Details

The transaction has been unanimously approved by Emerson’s Board of Directors and is expected to close in the first half of the calendar year 2023, subject to regulatory approvals and customary closing conditions.

Operating results for Climate Technologies, and previously announced divestitures, InSinkErator, which is expected to close later today, and Therm-O-Disc, will be reported in discontinued operations in the first fiscal quarter of 2023. Included in Emerson’s continuing operations will be Automation Solutions, Safety & Productivity, and AspenTech.

As part of the transaction, Emerson will be right sizing its corporate and platform cost structure and will sell ownership of its St. Louis, Missouri campus to the joint venture. Emerson will enter a three-year lease on the headquarters with an option to extend a further two years. During that time, Emerson will undertake a comprehensive assessment of potential headquarters locations.

Advisors

Centerview Partners LLC and Goldman Sachs & Co. LLC are serving as financial advisors to Emerson, and Davis Polk & Wardwell LLP is serving as legal counsel. Barclays served as lead financial advisor to Blackstone. Guggenheim Securities, LLC and Evercore also provided financial advisory services to Blackstone. The ABL revolver and TLA portion of the debt financing related to the transaction is led by RBC Capital Markets, LLC, Wells Fargo and SMBC. Additional financing is provided in the form of a private Term Loan by a consortium of lenders. Simpson Thacher & Bartlett LLP is acting as legal counsel to Blackstone.

About Emerson

Emerson (NYSE: EMR) is a global technology and software company providing innovative solutions for the world’s most essential industries. Emerson is an automation leader that helps process, hybrid and discrete manufacturers optimize operations, protect personnel, reduce emissions and achieve their sustainability goals through its unmatched automation portfolio, including its majority stake in AspenTech. For more information, visit Emerson.com.

About Blackstone

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $951 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram.

Forward-Looking and Cautionary Statements

Statements in this press release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include the Company’s ability to successfully complete on the terms and conditions contemplated, and the financial impact of, the proposed Climate Technologies transaction, the proposed sale of its InSinkErator food waste disposal business, the scope, duration and ultimate impacts of the COVID-19 pandemic and the Russia-Ukraine conflict, as well as economic and currency conditions, market demand, including related to the pandemic and oil and gas price declines and volatility, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, inflation, among others, as set forth in the Company’s most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.

1Climate Technologies refers to the reported segment excluding Therm-O-Disc, divestiture closed May 2022.

2EBITDA, including standalone costs, of $1.1 billion was adjusted by the following: $0.15 billion of depreciation and amortization expense and $0.05 billion of standalone costs to arrive at pretax earnings of $1.0 billion.

Contacts

For Emerson:

Investors:

Colleen Mettler

(314) 553-2197

Media:

Joseph Sala / Tanner Kaufman
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449

Charlotte Boyd

(952) 994-8607

For Blackstone:

Matt Anderson

Matthew.Anderson@blackstone.com

(212) 390-2472

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Ufenau VII invests in Market Research and Analytics specialist Marktest

Dear Investors, Pfaeffikon SZ, October 2022

Partners and Friends of Ufenau Capital Partners,
We are delighted to announce that Ufenau VII has reached an agreement to acquire a majority stake in Marktest (“Marktest”, “Group”). The Group is a leading tech-enabled market research and analytics solutions specialist with relevant international presence. Completion of the acquisition is subject to the satisfaction of certain conditions that are expected to be fulfiled until 31 January 2023.

With an experience of +40 years and +300 professionals, Marktest is the leading independent market research player in Portugal. The Group has an outstanding track record supporting media channels, agencies, and advertisers to capture relevant data and turn it into actionable insights. Marktest is the reference data provider on advertising expenditure in Portugal, and has an unrivaled know-how on research studies, which has led to the development of proprietary high-end media planning, business intelligence and analytics tools. The Group has already developed a relevant international presence in marketing analytics, with its tools becoming a standard across several countries.

With the support of Ufenau, the objective of Marktest is to grow consolidating a group of leading specialists in the field of market research and analytics in Europe with profound sector-specific expertise coupled with cutting edge data visualization and analytics capabilities. The strategic acquisitions will reinforce the Group’s market position broadening its service offering and specific know-how as well as expanding its geographical reach.

The Founders of Marktest will continue to lead the business into its next growth phase and will significantly co-invest alongside Ufenau. Together, Marktest’s team and Ufenau will ensure the continuation of the successful growth strategy.
José Manuel Oliveira, the CEO of Marktest, said “Strongly positioned in Portugal and operating in +30 countries, Marktest is highly experienced in market and media research as well as in developing hardware and software. Our outstanding team is permanently ready to develop and provide new solutions of the upmost quality and accuracy for our clients and partners. Now we are commencing a new phase in which we look forward to materializing valuable synergies alongside Ufenau, embracing new markets, solidifying our international position and continuing to guarantee dedication, quality and rigor as we have done to date.”

Ralf Flore, Managing Partner at Ufenau, considers that “Marktest has proven its ability to be at the forefront of market research in simbiosis with a powerful data analytics software highly valued in the market. Ufenau is delighted to support the Group in its next growth phase, increasing its presence in the international market through strategic acquisitions that will complement its already well-established capacities and service offering.”
Your Ufenau Team

About Ufenau Capital Partners
Ufenau Capital Partners is a privately-owned Swiss Investor Group headquartered at Lake Zurich which advises private and institutional investors with their investments in private equity. Ufenau Capital Partners is focused on investments in service companies in German-speaking Europe, Iberia and the Benelux region and invests in Education & Lifestyle, Business Services, Healthcare, IT Services and Financial Services sectors. Since 2011, Ufenau invested in 270 service companies in Europe. Through a renowned group of experienced Industry Partners (owners, CEOs, CFOs), Ufenau has an active value-adding investment approach at eye-level with entrepreneurs and managers. Ufenau raised its seventh flagship fund and its third Continuation Vehicle earlier this year with a volume of EUR 1.6bn and advises capital of EUR 2.5bn.
Ufenau VII invests in Market Research and Analytics specialist Marktest

Ufenau Capital Partners AG Huobstrasse 3 CH-8808 Pfäffikon, Schwyz
www.ucp.ch
Tel: + 41 44 482 66 66 Fax: + 41 44 482 66 63 info@ucp.ch

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Nordic Capital and Five Arrows to sell The Binding Site, a global leader in specialty diagnostics

Nordic Capital

The Binding Site has grown significantly under Nordic Capital’s and Five Arrows’ ownership, creating an industry leader in oncology testing for detection and monitoring of Multiple Myeloma

OCTOBER 31 2022

Nordic Capital and Five Arrows have entered into a definitive agreement to sell The Binding Site, a global leader in specialty diagnostics, to Thermo Fisher Scientific (NYSE:TMO), the world leader in serving science. The transaction is valued at GBP 2.25 billion. Since the acquisition of The Binding Site in 2011, the business has made an impressive transformation from a founder-led research-based organisation to a leader in delivering innovative medical solutions that improve the detection, diagnosis and management of blood cancers and immune system disorders.

The transformation has been achieved by significant investments into its technology, growth and with a dedicated focus on R&D to support research and drive improved clinical outcomes. Since 2011, The Binding Site has grown fivefold with revenues amounted to approximately GBP 200 mn in 2022 and more than 40 million tests sold on a global scale. The Binding Site’s Freelite® offering is widely recommended for Multiple Myeloma diagnosis and monitoring across multiple stages of the disease by many major clinical diagnosis and treatment guideline publications. By joining Thermo Fisher Scientific, the world leader in serving science, The Binding Site will be even better positioned to accelerate scientific discovery and expand its product offering.

“We are proud to have partnered with The Binding Site. Their cutting-edge technology and innovative specialty diagnostic solutions improve millions of patient lives globally. During Nordic Capital’s ownership the company has experienced strong growth and transformation, achieved by a dedicated focus on R&D investment, commercial focus and global expansion. We are grateful to The Binding Site team, for their dedication and for building strong scientific foundations which support the changing needs of patients and clinicians. This transaction marks the culmination of a very successful partnership, a successful outcome for Nordic Capital’s investors and the start of an exciting next phase for the Binding Site,” says Dr Raj Shah, Partner and Head of Healthcare, Nordic Capital Advisors and Jonas Agnblad, Partner, Nordic Capital Advisors and Board Member, The Binding Site.

“The Binding Site has always been a pioneer in the field of protein diagnostics, which has helped create an exceptional following with key opinion leaders in cancer treatment and strong customer loyalty. It has been a great privilege for us to work with Stefan and his management team and we have every confidence that The Binding Site will continue to thrive under the ownership of Thermo Fisher Scientific,” says Javed Khan, Managing Partner of Five Arrows.

“We have enjoyed and benefitted greatly from our long-standing partnership with Nordic Capital and Five Arrows and their sustained active support over the years to help us to realise our vision and deliver for our customers and patients. Their supportive approach to investments in R&D, coupled with deep insights and expertise in healthcare has resulted in a consistent long-strategy focused on growth. This transaction marks the beginning of a new and exciting chapter for The Binding Site,” says Stefan Wolf, CEO, The Binding Site.

Nordic Capital has been the majority owner of The Binding Site since 2011 when it completed the acquisition together with Five Arrows. The transaction, which is expected to be completed in the first half of 2023, is subject to customary closing conditions, including regulatory approvals.

Media contact:

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@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 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 close to EUR 22 billion in 130 investments. The committed capital is 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

 

About Five Arrows

Five Arrows is the alternative assets arm of Rothschild & Co and has €22 billion of AuM with offices in Paris, London, New York, Los Angeles, San Francisco and Luxembourg. With over €8 billion of assets under management, the corporate private equity business of Five Arrows is focused on investing in companies with highly defensible market positions; strong management teams; business models with high visibility of organic unit volume growth and strong unit economics; and multiple operational levers that can be used to unlock latent value. Sectors are limited to data and software, technology-enabled business services and healthcare.

https://www.rothschildandco.com/en/merchant-banking/corporate-private-equity/

 

About The Binding Site

The Binding Site is a global specialist protein diagnostics company engaged in the research, development, manufacture and distribution of innovative tests used for the detection of cancers and immune disorders. It is a business centered on the idea of working in collaboration with its partners and customers to lead the way in specialised medical diagnostics. The Company is headquartered in Birmingham, UK and has a direct presence in over 23 countries, employing over 1,100 people worldwide. Read more on www.bindingsite.com

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ProjectiveGroup grows further with acquisition of Dutch Charco & Dique

GIMV

28/10/2022 – 09:00 | Portfolio

Projective Group, the international consulting firm, has today announced its acquisition of the Dutch specialists in legal, risk & compliance, Charco & Dique. With this acquisition, Projective Group expands its team to about 700 experts across Europe.

Since Projective Group and Gimv joined forces in 2021, Projective Group has already made several strategic acquisitions throughout Europe. With this acquisition of Charco & Dique, Projective Group strengthens its position on the Dutch market.

The expertise and experience in legal, risk & compliance of Charco & Dique as well as their initiatives such as the Ministry of Compliance or their application Ruler brings Projective Group one step closer to becoming the one-stop-shop financial services provider in Europe.

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ProjectiveGroup grows further with acquisition of Dutch Charco & Dique

GIMV

8/10/2022 – 09:00 | Portfolio

Projective Group, the international consulting firm, has today announced its acquisition of the Dutch specialists in legal, risk & compliance, Charco & Dique. With this acquisition, Projective Group expands its team to about 700 experts across Europe.

Since Projective Group and Gimv joined forces in 2021, Projective Group has already made several strategic acquisitions throughout Europe. With this acquisition of Charco & Dique, Projective Group strengthens its position on the Dutch market.

The expertise and experience in legal, risk & compliance of Charco & Dique as well as their initiatives such as the Ministry of Compliance or their application Ruler brings Projective Group one step closer to becoming the one-stop-shop financial services provider in Europe.

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IK Partners invests in Plus que PRO

IK Partners

IK Partners (“IK”) is pleased to announce its investment in the French digital platform and services company Plus que PRO (“the Company”) alongside the co-founders Gregory Regouby and Sacha Goepp, who will retain control and management of the business. Financial terms of the transaction are not disclosed.

Founded in 2014 in Alsace, France, Plus que PRO is a digital platform which enables craftsmen and small to medium-sized enterprises (“SMEs”) elevate their online presence, drive revenue and margin growth as well as protect and improve their reputation, while also providing consumers with a tamperproof review hosting service based on blockchain technology. The Company employs 190 people and has a growing subscriber base of thousands of business-to-business and business-to-consumer businesses in France, with a particular focus on the Construction as well as Business Services sectors.

With IK’s backing, Plus que PRO will be well-positioned to expand its share of the digital services market for SMEs and support its growth plan. IK’s experience in both the French market and with similar tech-enabled Business Services companies will enable Plus que PRO to roll out new and complementary solutions while marketing its consumer feedback solution to a wider range of enterprises.

Through this new partnership with IK, Plus que PRO aims to accelerate its franchise roll-out, further support its partners’ growth and continue to invest in R&D to enhance its product offering. The Company will continue to be led by Gregory Regouby, Sacha Goepp and their team.

The investment was made from the dedicated pool of Development Capital within the IK Small Cap III Fund, which held a final close at its hard cap of €1.2 billion last year.

Gregory Regouby, Chief Executive Officer of Plus que PRO, commented: “We are looking forward to working closely with IK Partners in the next stage of our growth. Their extensive expertise in the French market and proven track record of scaling similar-sized businesses makes them the optimal partner for Plus que PRO as we seek to expand our services offering and gain further market share in a promising market.”

Pierre Gallix, Managing Partner and Advisor to the IK Small Cap III Fund, said: “Gregory and Sacha have built an impressive business in the competitive digital services sphere in France. The underlying market opportunity is set to grow further in the coming years and we believe that with additional capital and support, Plus que PRO has the potential to become a leading player in France and beyond.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 170 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

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About Plus que PRO

Plus que PRO is a digital platform and services company providing a range of solutions for small businesses to accelerate their digitalisation. Headquartered in Alsace, France, the firm already serves thousands of businesses in France with a primary focus on the building and business services. For more information, visit https://www.plus-que-pro.fr/ or https://www.rejoindre-plus-que-pro.fr/

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