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Nordic Capital to sell Consilium Safety Group, a leading and fast-growing provider of innovative SafetyTech

Nordic Capital
  • Under Nordic Capital’s ownership, Consilium Safety Group has made a profound transformation becoming an innovative global leader within SafetyTech in attractive niche markets
  • Consilium Safety Group has invested in organic growth and R&D and has further expanded its global service coverage to protect lives, values and the planet
  • The Company has seen significant increases in sales and almost tripled its profits in three years

Nordic Capital, a leading sector-specialised private equity investor, has entered into a definitive agreement to sell Consilium Safety Group, a leading provider of innovative SafetyTech, to a wholly-owned affiliate of Antin Infrastructure Partners’ Flagship Fund V. During Nordic Capital’s ownership period, Consilium Safety Group has developed to become a global innovation leader in safety technologies specialising in intelligent Fire, Flame and Gas detection within the marine, energy, transport and building sectors.

Following Nordic Capital’s acquisition in 2020, Consilium Safety Group became a stand-alone company fully focused on putting safety first for its customers. Since then, the company has grown significantly and transformed into a leading provider of mission-critical infrastructure in highly demanding and regulated end markets, with a premier standard of global service coverage. Consilium Safety Group has professionalised its organisation and operations, effectively utilising its innovative technology and service platform to expand its top-tier offering to make a lasting, positive impact and continue protecting lives, values and the planet. Revenues have increased from SEK 1.4 bn to SEK 2.5 bn, and EBITDA has almost tripled in three years.

In partnership with the Consilium Safety Group management team, Nordic Capital has focused on Consilium Safety Group’s core strategy and its customer offering within SafetyTech. Significant investments into R&D and innovation, expansion of the product and aftermarket offerings and, commercial initiatives to increase digitalisation and refine operations, have created a more integrated, efficient, and connected organisation. Consilium Safety Group is now well positioned to take its next step with further international growth and innovative product development ahead.

“We are very proud of what Nordic Capital and Consilium Safety Group’s management team has together achieved, creating a leading and innovative company with a global footprint. The plans set out at the time of the acquisition have been successfully executed much earlier than expected. We want to thank the whole team at Consilium Safety Group for their contribution during these years. Consilium Safety Group is now well placed to continue its growth trajectory and outperform the market. This marks the culmination of a very successful partnership and the start of an exciting next phase for Consilium Safety Group,” said Joakim Andreasson, Managing Director, Nordic Capital Advisors.

“Nordic Capital’s operational focus, deep sector insights and expertise in how to fuel global expansion, have been instrumental in the growth of Consilium Safety Group. Together, we have achieved great results quicker than we expected. We thank them for their support and guidance as we take the next step of our journey. As we embark on the next chapter, we are very excited to partner with Antin. We will continue delivering mission-critical safety and operational resilience to our customers and with Antin’s support, we look forward to investing further in the expansion of our offering, capabilities, and presence,” said Philip Isell Lind af Hageby, CEO, Consilium Safety Group.

“We are very impressed by the team at Consilium Safety Group and their commitment to safety, continuous innovation, and customer service. The company has built an extensive international footprint which enables it to support its customers who rely on Consilium Safety Group’s mission-critical infrastructure for their operations,” said Simon Söder, Senior Partner, Antin Infrastructure Partners.

The terms of the transaction were not disclosed. Completion of the transaction is expected in H1 2024, and is subject to customary closing conditions, including relevant regulatory approvals.

Citigroup Global Markets acted as financial advisor to Nordic Capital.

 

Press contacts:

Nordic Capital

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

Consilium Safety Group

Malin Cardemar
Chief Marketing & Communications Officer
Tel: +46 735 95 32 51
e-mail: malin.cardemar@consiliumsafety.com

Antin Infrastructure Partners
Nicolle Graugnard, Communication Director
Email: nicolle.graugnard@antin-ip.com

 

About Nordic Capital
Nordic Capital is a leading sector-specialised 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 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”.


Consilium Safety Group
Consilium Safety Group is a world-leading solution provider of fire, flame and gas safety technologies for the marine, energy, transport and building sectors. By combining safety expertise with intelligent detection, the company contributes to protecting lives, values, and the planet through technology. What started in 1912 is today an international company driven by innovation. Consilium Safety Group is based in Gothenburg, Sweden, has more than 55 offices, covering all time zones, and strives to be a great place to grow for all its 900 employees.


About Antin Infrastructure Partners
Antin Infrastructure Partners is a leading private equity firm focused on infrastructure. With over €30 billion in assets under management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, digital, transport and social infrastructure sectors. With offices in Paris, London, New York, Singapore and Luxembourg, Antin employs over 220 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to portfolio companies and investors. Majority owned by its partners, Antin is listed on Euronext Paris (Ticker: ANTIN – ISIN: FR0014005AL0)

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Kimmenade teams up with 819 Capital Partners

819 Capital Partners

In close collaboration with 819 Capital Partners, Kimmenade Group (“Kimmenade” or “the company”) announces the official continuation of its activities.

With a team of experts with more than 100 years of experience in roof renovation and concrete sealing, Kimmenade continues its tradition and builds on an impressive legacy. With the investment of 819 Capital Partners and their active support, Kimmenade strives to further expand their presence in the international market. As of November 1, the company officially continued its activities in close collaboration with 819 Capital Partners.

Kimmenade has a rich history in roof renovation, roof and concrete sealing. With an experienced team and a clear vision, Kimmenade strives for a successful future.

819 Capital Partners offers Kimmenade active support in its business operations and further expansion of the company in finance and knowledge. With a team consisting of former entrepreneurs, ex-accountancy and former corporate finance specialists, Kimmenade management is actively supported by 819 Capital Partners during the restart and subsequent steps of the company.

819 Capital Partners acquired a majority stake with their investment in Kimmenade.

Catapult Corporate Finance advised on the transaction.

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AIT Worldwide Logistics plans to increase global footprint with Lubbers Logistics Group acquisition

AAC Logo

Strategic deal will position AIT as key player in European road transport, energy sectors

ITASCA, IL (Nov. 17, 2023) – AIT Worldwide Logistics, a leading provider of global supply chain solutions, has entered into a binding purchase agreement to acquire Lubbers Logistics Group, a European logistics company specializing in high-value, complex, and time-sensitive transport services. The purchase will serve as a significant milestone for AIT as it continues to expand its global reach and enhance its offerings in the road transport and energy logistics sectors.

Lubbers, headquartered in Schoonebeek, Netherlands, has established itself as a leading provider of top-tier transportation solutions for high-value segments, offering road transport, project cargo and global freight forwarding. With more than 377 employees working across nine road transport hubs and nine freight locations, Lubbers boasts an extensive network of strategically located facilities throughout Europe and beyond.

“Lubbers’ robust one-stop shop approach and their long-standing relationships with industry-leading customers make them an excellent fit for AIT,” said AIT’s Chief Business Officer, Greg Weigel. “We see significant potential for their broad network, growing freight forwarding operations, and energy sector expertise to further enhance AIT’s world-class customer experience. We’re also excited to begin serving the two largest middle-mile markets in the world—the United States and Europe.”

Lubbers’ network will add 18 new offices to AIT’s existing global network of more than 125 locations, while expanding AIT’s footprint to four new countries: Denmark, Norway, Romania and Turkey. Lubbers also has facilities in Germany, Italy and the United Kingdom.

“Joining forces with AIT Worldwide Logistics is a strategic move that will allow us to continue providing exceptional service to our clients while expanding our reach on a global scale,” said Lubbers’ CEO, Gary Roche. “AIT’s strong track record and commitment to customer service align with our values, and we look forward to a bright future together.”

“We are looking forward to welcoming Lubbers to the AIT network,” said AIT’s Chairman and CEO, Vaughn Moore. “This deal will enhance our position in Europe and bolster our presence in the energy sector, allowing us to better serve current customers while creating new opportunities. Lubbers’ customer-centric approach to business, as well as their reputation for excellent quality aligns perfectly with AIT’s culture.”

AIT’s acquisition of Lubbers is expected to be finalized by the end of 2023 and will be subject to obtaining customary regulatory approvals. Terms have not been disclosed.

About AIT Worldwide Logistics
AIT Worldwide Logistics is a global freight forwarder that helps companies grow by expanding access to markets all over the world where they can sell and/or procure their raw materials, components and finished goods. For more than 40 years, the Chicago-based supply chain solutions leader has relied on a consultative approach to build a global network and trusted partnerships in nearly every industry, including aerospace, automotive, consumer retail, food, government, healthcare, high-tech, industrial and life sciences. Backed by scalable, user-friendly technology, AIT’s flexible business model customizes door-to-door deliveries via sea, air, ground and rail — on time and on budget. With expert teammates staffing more than 125 worldwide locations in Asia, Europe and North America, AIT’s fullservice options also include customs clearance, warehouse management and white glove services.
Learn more at www.aitworldwide.com.

Our Mission
At AIT, we vigorously seek opportunities to earn our customers’ trust by delivering exceptional
worldwide logistics solutions while passionately valuing our co-workers, partners and communities.

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MEDIA CONTACT:
Matt Sanders
Public Relations Manager
+1 (630) 766-8300
msanders@aitworldwide.com

AIT Worldwide Logistics, Inc.
Global Headquarters
2 Pierce Place, Suite 2100
Itasca, IL 60143

800-669-4AIT (4248)
www.aitworldwide.com

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Vertuoza reinforces its growth ambitions and successfully concludes its 10 million € Series A funding round

Fortino Capital

Vertuoza, the pioneer in construction software, has successfully completed its Series A funding round with an additional injection of 6 million euros following last year’s pre-Series A funding of 4 million €, bringing the total to 10 million. This capital raise, backed mainly by Fortino Capital and XAnge, reflects confidence in the ambitious growth plans of the Belgian company.

Since its launch, Vertuoza has experienced rapid growth, driven by an innovative spirit, a clear vision, and the unstoppable energy of its founders and their team. With this financial support, Vertuoza will accelerate its international expansion. The software, currently available in four countries, was launched in Dutch last summer and will soon enter the Dutch market.

CEO Dominique Pellegrino explains, “We meticulously followed our initial plan to organize the Series A round in two parts. After a pre-Series A of 4 million, the plan was to continue accelerating, to have an incredible year to conclude this round, and to raise under favorable conditions. The renewed confidence of our investors, who believed in us last year, reinforced our decision. Our exponential growth this year has exceeded their expectations and leads to further investments.”

Dominique Pellegrino, CEO

Three years after its founding, Vertuoza has an annual recurring revenue of more than 4 million euros and continues to break sales records.

“Since our partnership with Vertuoza began last year, we have witnessed a remarkable metamorphosis, transitioning from a vibrant start-up to a dynamic scale-up. Vertuoza’s execution of its vision to revolutionize the European construction sector through digitalization has been nothing short of exceptional. We are both excited and honored to support Dominique, Antoni, and the entire Vertuoza team as they continue on this transformative journey.” says Filip Van Innis, Partner at Fortino Capital.

Filip Van Innis

Heading towards Dutch-speaking regions!

Building on its success and the mission to provide peace of mind and success to construction entrepreneurs, Vertuoza is now making its move into the Dutch-speaking market. The software, already available in Dutch in Flanders and Brussels, serves as a springboard to the Netherlands.

 

Clear and ambitious goals, with a team increasingly dedicated to its clients!

After the successful realization of significant forecasts for 2023, Vertuoza is setting new objectives for the upcoming year. The mission? To double its ARR, expand its international presence, and finalize the V2 of its software. These challenges will require attracting new talents, especially Dutch-speaking profiles, to strengthen a team already composed of over 75 innovation enthusiasts. The scale-up aims to welcome at least forty new members by the end of 2024.

“As the construction sector continues to evolve, the demand for efficiency and sustainability becomes ever more pressing. Vertuoza, with its innovative approach to construction software, stands at the forefront of this transformation. Our renewed investment reflects our strong belief in Vertuoza’s potential to revolutionize construction.” – Cyril Bertrand, Managing Partner, XAnge.

 

A Team driven by innovation and customer service

Vertuoza upholds a culture of continuous innovation, refusing to settle for the minimum, and is committed to achieving customer satisfaction aligned with its ambitious standards. Beyond its software, the Belgian company enhances its customer service to meet client expectations and foster peace of mind in their development of their construction business. The upcoming year, 2024, will witness the launch of the V2 of their software, anticipated to be more revolutionary and intuitive. Developed in close collaboration with internal teams and clients, this new version promises entrepreneurs an unparalleled solution. Stay tuned…

 

About Vertuoza

Vertuoza is a powerful and intuitive software that has been assisting building entrepreneurs since 2021 in managing various aspects of their companies: planning, invoicing, profitability, project management, and monitoring, among others. It provides everything needed to alleviate the heavy administrative burden that weighs on construction businesses. With new features released every month, the Vertuoza software ensures it stays closely connected with its clients, meets their expectations, and adapts to evolving needs. The company, led by Antoni Di Filippo & Dominique Pellegrino, has already raised €11.2 million from French and Belgian-Dutch investors such as XAnge and Fortino Capital, a European investment firm based in Flanders and the Netherlands, focusing on B2B software editors. With an ARR of €4 million and 72 employees in three countries, just two and a half years after its launch, there’s no doubt that Vertuoza’s success story is only just beginning! For more information, please visit https://vertuoza.com

 

About Fortino Capital

Fortino Capital is a European investment company with a focus on high-growth B2B software solutions managing two private equity growth funds and two venture capital funds. With offices in Belgium, the Netherlands and Germany, Fortino backs exceptional and ambitious entrepreneurs in Europe. Fortino’s Venture Capital portfolio includes Vertuoza (BE), TechWolf (BE), Timeseer.ai (BE), Zaion (FR), Salonkee (LUX), Sides (DE), D2X (NL), Peers (DE) and Kosli (NO) among others. Fortino Capital’s private equity growth portfolio includes VanRoey (BE), BizzMine (BE) MobileXpense (BE), Efficy CRM (BE), Tenzinger (NL), SpeakUp (NL), Cenosco (NL), Maxxton (NL), Stardekk (BE) and Bonitasoft (FR).

 

About XAnge

XAnge (xange.vc) is a leading European venture capital firm, Bcorp certified, based in Paris, Berlin, and Munich. With €600M Assets under Management, the company invests in European early-stage innovative technology companies operating in the fields of Digital consumer, Enterprise & Data, Fintech, and Deeptech. Since its creation in 2003, XAnge has backed more than 200 fast-growing companies in their entrepreneurial journeys. The team works alongside visionary founders with strong values and international ambitions such as Ledger, Odoo, Lydia, or Believe Digital. For more information, please visit https://www.xange.vc

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Volpi Capital Invests in Yaveon

Volpi Capital

London, 16th of November 2023: Volpi Capital, a pan-European B2B technology investor, is delighted to announce its partnership with Yaveon.

Founded in 2008, Yaveon is a leading ERP software vendor and system integrator specialising in the Microsoft Dynamics ERP platform. It serves small and medium companies operating in the process manufacturing industry including the highly regulated life sciences industry. In addition to in-depth industry know-how, YAVEON offers a proprietary suite of industry extensions. Headquartered in Germany, the Company has 217 employees and a global customer base.

Its management team partnered with Volpi after months of close collaboration, with a joint plan to (i) focus on people & recruitment, (ii) scale its proprietary software by leveraging a scalable, channel-based go-to-market strategy, and (iii) acquire complementary vendors in the Microsoft partner network.

Given the rapid growth of the Microsoft Dynamics platform and its partner-first strategy, Volpi and management see a significant opportunity for Yaveon to become the global reference for Microsoft in the process manufacturing and life sciences vertical, through both organic growth and M&A consolidation. Yaveon has demonstrated high growth in recent years, exhibiting impressive revenue and EBITDA CAGRs, largely driven by the expansion of its industry software which is sold across Europe and the Americas.

Yaveon was also recognised as a top place to work in Germany by Kununu and Focus Top Employers in 2023.

York Braune, Yaveon’s CEO commented, “We are excited about the next stage of growth with Volpi. Our choice to partner with them stems from their track record in scaling software businesses globally, particularly via partner channels, their strong focus on culture, as well as our joint conviction in Microsoft Dynamics as a winning platform”.

Gebhard Schwan, COO and Co-Founder added, “This is an exciting time for us, given our momentum in the market. Volpi’s success stories, such as their scaling of the delivery function at Version 1, their entry into the Microsoft market with Boyum IT, and multiple international M&A transactions in the space, demonstrates the value they bring to the table”.

Crevan O’Grady of Volpi Capital responded, “As a thematic investor, we had identified the Microsoft Dynamics partner network as a top market since 2020 and were actively looking for the right management team to partner with. York, Gebhard and the rest of the Yaveon team impressed us immediately; we are excited to roll up our sleeves and deploy Volpi’s resources to help the team fully capture the global market opportunity”.

Marc Andreoli of Volpi Capital added, “Now is the time to invest in international growth, to create a global Dynamics champion for process manufacturing. We look forward to support York, Gebhard and their team to further scale the organisation, both organically and via complementary M&A”.

Volpi was advised by PwC (Financial DD, Tax DD, and structuring), White & Case (Legal), Ringstone (ITDD), Christoffer Holten (Customer DD), Corporate Balance (ESG DD), and Howden (W&I insurance). Debt financing was provided by Gestalterbank.

Yaveon was advised by Greenfort (Legal), Ebner Stolz (Financial) and Kuhn & Partner (Tax).

The Volpi team was led by Crevan O’Grady, Marc Andreoli, Fernando Piekenbrock, and Annamarie Krcmar. Jarlath Dooley, former Director at Version 1 will join as Chairperson of the Board.

About Volpi Capital

Volpi Capital is a specialist Pan-European lower mid-market private equity firm seeking to partner with ambitious businesses that use technology to disrupt traditional B2B value chains. Volpi typically invests €25-75 million of equity in businesses with enterprise values between €50 million and €200 million and seeks to drive transformative growth through international expansion and consolidation. The firm, which was founded in 2016 by Crevan O’Grady and Marco Sodi, closed its second fund (Volpi Capital Fund II) in December 2020 with €323 million of commitments, and is now investing from its third fund (Volpi Capital Fund III)

Media enquiries Volpi Capital
Samantha Lang
Public Relations
+44 203 747 2625
info@volpicapital.com

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Chase Corporation Announces Completion Of Acquisition By KKR And Welcomes Lance Reisman As Chairman Of The Board Of Directors

KKR
NEW YORK & WESTWOOD, Mass.–(BUSINESS WIRE)–Chase Corporation (“Chase” or the “Company”), a leading global manufacturer of protective materials for high-reliability applications across diverse market sectors, today announced the successful completion of its acquisition by affiliates of KKR, a leading global investment firm, for $127.50 per share. As a result of the completion of the transaction, Chase common stock has ceased trading and will no longer be listed on the NYSE American.

“Today represents an important milestone for Chase in our journey to better serve our customers through strategic growth and innovation,” said Adam Chase, President and Chief Executive Officer of Chase. “From the beginning, KKR was a strong cultural fit for us, and their commitment to employee engagement coupled with an exceptional track record in the materials science space makes them ideal for this new chapter in our history.”

Adam joined Chase in 1998, and has successfully managed Chase as Chief Executive Officer since 2015. Prior to this role, Adam was the Chief Operating Officer.
In conjunction with the transaction close, Lance Reisman will assume the role of Chairman of the Board of Directors of Chase.
“I am thrilled to be joining the Board of Chase as Chair and look forward to working with Adam and his talented team to achieve a new phase of growth and innovation,” said Mr. Reisman. “Chase has built an impressive portfolio of leading technologies, and I look forward to supporting the Company in building upon this foundation to drive future growth, both organically and through acquisitions.”
Lance is an Executive Advisor to KKR and currently serves as a member of the Board of Directors at Flow Control Group and as Chairman of the Board at GeoStabilization International and Industrial Physics. Lance previously worked at Danaher, most recently as Group Executive and Vice President responsible for Danaher’s Water Quality Platform. In this role, Lance led holistic operational and commercial transformations and executed a number of strategic acquisitions.
KKR will also support Chase in implementing a broad-based employee ownership program to allow all of its employees to have the opportunity to participate in the benefits of ownership of the Company. This strategy is based on the belief that employee engagement and a strong ownership culture are key drivers in building stronger companies. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-senior management employees across more than 35 portfolio companies.
About Chase Corporation
Chase Corporation, a global specialty chemicals company that was founded in 1946, is a leading manufacturer of protective materials for high-reliability applications throughout the world. More information can be found on our website https://chasecorp.com/.
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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
Contacts
Media Contacts:

For Chase Corporation

Investor & Media Contact:
Jackie Marcus or Ashley Gruenberg
Alpha IR Group
Phone: (617) 466-9257
E-mail: CCF@alpha-ir.com

Shareholder & Investor Relations Department:
Phone: (781) 332-0700
E-mail: investorrelations@chasecorp.com

For KKR
Liidia Liuksila or Miles Radcliffe-Trenner
(212) 750-8300
media@kkr.com

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KKR Supports InVivo In The Global Expansion Of Malteries Soufflet

KKR

KKR continues to scale its strategic partnership with InVivo and Malteries Soufflet by more than doubling its investment as Malteries Soufflet acquires United Malt, creating the world’s largest maltster

Paris, 15 November, 2023 – KKR, a leading global investment firm, announces today that it has supported Malteries Soufflet in the funding and execution of the AUD 1.5 billion acquisition of United Malt Group Limited (“United Malt”), the fourth largest maltster globally. Funds and accounts managed by KKR have invested alongside InVivo Group, a leading French agricultural and agri-food business, which acquired Malteries Soufflet in 2021.

InVivo welcomed KKR, Bpifrance and Crédit Agricole Group as strategic partners in December 2021, with an initial investment of €440m to help fund the acquisition of Malteries Soufflet, backing a strategy to accelerate growth and strengthen its global leading position. To fund the United Malt acquisition, KKR, with participation from Bpifrance and Crédit Agricole Group, led a combined follow-on investment of €550m.

Founded in 1823, United Malt operates 11 production plants across North America, Europe and Asia Pacific, supplying malting-quality barley to micro brewers and distillers, as well as traditional major brewers. United Malt has now been delisted from the Australian Securities Exchange (ASX) as part of this transaction, and is now a wholly-owned subsidiary of Malteries Soufflet, which becomes the largest global malt player by sales and production capacity, with 40 production plants in 20 countries, and with an annual production capacity of 3.7m tons of malt; a 50% increase for Malteries Soufflet.

The acquisition brings together two complementary customer bases and geographic footprints, creating a unique global industrial network with the largest production capacity in North America and Europe and leading capabilities in the fast-growing Asia Pacific and South American markets. The combination of the two businesses enables exposure to all key-malt end-markets, making it ideally positioned to capture growing demand from both international brewers, as well as the growing craft beers and distillery markets.

Thierry Blandinières, Chairman of Malteries Soufflet and CEO of InVivo Group, commented: “I am thrilled that we have completed the acquisition of United Malt Group, together with our strategic partners, KKR, Bpifrance and Crédit Agricole Group. This illustrates InVivo Group’s commitment to making malt one of the central pillars of our business by strengthening the position of Malteries Soufflet as a world leader in the sector. Malteries Soufflet is now well on track to accelerate its growth, to expand its presence in the high value-added craft beer market and to build a more sustainable and innovative global platform to supply brewers, both craft and industrial, and distillers throughout the world. We look forward to welcoming our new colleagues from United Malt Group into the Malteries Soufflet family, and to writing together a new chapter in the company’s history.”

Jérôme Nommé, Partner and Head of France at KKR, said: “This combination of two world class businesses is a transformative milestone in our strategic partnership with French agriculture champion InVivo, as we help it to accelerate growth on a global scale. KKR’s significant reinvestment into Malteries Soufflet demonstrates our continued conviction in its future growth potential, in the resilience of the industry, and in the strength of the management team under the expert leadership of Thierry Blandinières. We look forward to the continued strategic partnership, as well as the ongoing support from Bpifrance and Crédit Agricole, as we seek to further scale the business organically and by acquisition in the years to come.”

Blaine MacDougald, Partner and Co-Head of KKR’s Strategic Investments Group, added: “The acquisition of United Malt by Malteries Soufflet is a great example of how KKR’s structured equity solutions can support businesses and their global growth ambitions. The connectedness and flexibility of KKR’s platform enables us to work creatively with owners and management teams, providing full access to KKR’s resources, global reach, and bespoke capital solutions that help our partners achieve their goals.”

KKR is making the investment in Malteries Soufflet primarily through its Strategic Investments Group strategy, and through funds and accounts managed by KKR in Asia.

KKR’s diversified and multi-asset investment platform enables flexibility to support ambitious companies with a suite of comprehensive, bespoke capital solutions, further enhanced by the firm’s global experience and operational capabilities. In France, this model along with KKR’s partnership approach, strong local presence and large global platform, enables companies to grow and globalize. KKR is a long-term investor in France, where the firm has invested over €10 billion since 2002, forming strategic partnerships with a number of leading French businesses including APRIL, Albioma, Devoteam, Mediawan, OVHcloud, among others.

— Ends —

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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About InVivo

InVivo Group is one of Europe’s leading agricultural groups with revenues of nearly €12 billion, with more than half generated in France, and a workforce of 15,000 employees, including more than 10,000 in France. With operations in 35 countries, it has more than 100 industrial sites, including 63 in France. The
Group operates along the entire value chain, from farm to fork, as a leader in each of its four major strategic business lines: international grain trade, agriculture, agri-food (Malting, Millin/ingredients/bakery, Wine), gardening and food distribution.

A global cross-functional centre for innovative and digital solutions completes the structure to accelerate the transformation of these activities towards the 3rd agricultural revolution.

For more information: invivo-group.com / Twitter @InVivo Group<

Media Contacts

KKR
FGS Global
Alastair Elwen / Sophia Johnston
KKR-Lon@FGSGlobal.com
Tel: +44 (0) 20 7251 3801

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Flexiramics raises € 4.5M in new investment round

819 Capital Partners

Flexiramics recently has raised a follow-on investment of € 4.5M in from new and existing shareholders, including Cottonwood Technology Fund, Demcon Investment, Oost NL and 819 Capital Partners.

Flexiramics’ unique technology produces 100% ceramic nanofibers in the form of ultra-thin mat and other products with one-of-a-kind material properties that address customer unmet needs across multiple industrial applications, including microfiltration, membranes, catalyst support and heat dissipation in electronics.

CEO Andy Wynn: “I would like to thank all of our shareholders for their tremendous support over the last two years in helping our growing team build such an exciting portfolio of commercial opportunities and deliver the world’s first pilot facility for production of ceramic nanofiber mats. This new investment will enable the team to grow Flexiramics® from a start up to a scale up over the next 2 years and position the company for full scale productionization and commercialization.”

CTO and founder Gerard Cadafalch Gazquez: “This new investment is a major step towards our strategic goal of becoming the leader in enabling breakthrough engineering solutions through non-woven ceramic materials and derivatives.”

819 Capital Partners invested in Flexiramics from 819 Evergreen Fund.

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Aurelius acquires iconic global beauty brand and retailer The Body Shop

Aurelius Capital
  • Opportunity to re-energise an iconic global beauty and personal care brand with impressive consumer recognition
  • Trailblazer which has set the standard for beauty brands in minimising environmental impact, maximising social benefits and ensuring animal welfare
  • AURELIUS’ operational taskforce to partner with the highly experienced management team to optimise operations and develop the offering across channels

Luxembourg/Munich, November 14, 2023 – AURELIUS announces the acquisition of The Body Shop International Limited (The Body Shop) from Natura & Co S.A (NYSE – NTCO; B3 – NTCO3). The iconic global beauty brand is renowned for its heritage in cruelty-free and ethical beauty products. It is an omni-channel retailer with its own stores, e-commerce sites, international franchises and wholesale customers. The transaction is expected to close in December 2023, subject to approval by the relevant competition and regulatory authorities. The purchase agreement values The Body Shop at £207m, including an earn-out of £90m, subject to certain conditions.

The Body Shop, which is headquartered in London and employs c. 7,000 staff, has operations in 89 markets with over 900 company-owned stores in 20 countries and partnerships with head franchisees who operate c. 1,600 franchised stores in a further 69 geographies. The brand’s product portfolio comprises natural ingredient-based bath & body, skin care, fragrance, hair care, make-up and gifting. The Body Shop has been B-Corp certified since 2019, further demonstrating its leadership in ethical sourcing, sustainability, and social consciousness.

As experts in complex transactions, with a strong focus on driving operational improvements, AURELIUS will work with the management team to drive operational excellence across the group, leveraging its expertise and experience in the omni-channel retail and wholesale markets. This, combined with The Body Shop’s iconic brand and heritage in socially responsible products, means that despite the challenging retail market there is an opportunity to re-energise the business to enable it to take advantage of positive trends in the high-growth beauty market.

In recent years, AURELIUS has completed many complex corporate carve-outs across Europe, including the acquisitions of renowned brands such as Footasylum from JD Sports and LSG Sky Chefs (LSG Group) from Deutsche Lufthansa AG.

“We are delighted to be undertaking this acquisition of an iconic British brand, which pioneered the cruelty-free and natural ingredient movement in the health and beauty market. We look forward to working with CEO Ian Bickley and his team to drive operational improvements and re-energise the business, and help to deliver the next chapter of success”, comments Tristan Nagler, Partner at AURELIUS.

Ian Bickley, CEO of The Body Shop, added, “Today, we celebrate a truly historic moment for The Body Shop as we join forces with Aurelius to begin a new chapter, allowing us to continue building the relevancy of this global brand for future generations. With a presence in over 80 countries, The Body Shop is not only a beauty brand, but also an iconic social business that has captured hearts in nearly every corner of the world. We are deeply grateful to Natura &Co for their unwavering support and I’m looking forward to working hand in hand with Aurelius as we adapt and flourish in new global retail environments, always with an eye on sustainable and profitable growth.”

The Body Shop was founded in 1976 by Anita Roddick, with a small shop in Brighton/UK. At the heart of her vision stood an ethical approach to business, a purpose that was trail-blazing at the time and remains highly relevant today. The Body Shop does not test its products on animals and strives to work fairly with farmers and suppliers. By following this approach to business, The Body Shop has been a pioneer in corporate social responsibility.

For further information contact:

AURELIUS
Humza Vanderman / Methuselah Tanyanyiwa
Dentons Global Advisors
Aurelius@dentonsglobaladvisors.com
Tel: +44 (0)7824 472501

Natura &Co
Emilia Lebron
Head of External Communications
+44 (0) 7580 816371
Emilia.lebron@avon.com

Brunswick Group
São Paulo + 55 11 3076 7620
London + 44 020 7404 5959
natura@brunswickgroup.com

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VaultSpeed secures $15,9 million in Series A funding to accelerate growth of its automated data transformation platform

16 november 2023 – Leuven, Belgium – VaultSpeed, the automated data transformation company, announces that it has secured $15,9 million (€ 15,1 million) in Series A funding. This funding round is led by Octopus Ventures, one of the largest and most active venture capital investors in the UK and Europe, with additional participation from the current lead investor Fortino Capital, PMV, and BNP Paribas Fortis Private Equity. Following two consecutive years of triple-digit revenue growth, VaultSpeed intends to use the proceeds to further expand its strong international presence and platform automation capabilities.

As more and more enterprise companies move their data to the cloud for faster analytics and data-driven decision-making, data teams are faced with the problem that without automation, it becomes nearly impossible to transform and integrate multi-source data on time, without compromising on quality or quantity. According to market research by Gartner, Worldwide Public Cloud End-User Spending will grow 17.5% to $725 billion by next year. Spending on cloud infrastructure represents the fastest growing market segment.

Launched in Belgium four years ago with seed investment from the Cronos Group and Fortino Capital, VaultSpeed has redesigned data transformation. It not only handles data complexity through transformation but also consolidates the data into a comprehensive target data model, allowing data engineers to customize it according to their requirements in a matter of days and weeks as compared to traditional methods.

VaultSpeed is already offering its automation solutions to global enterprises, particularly in finance, healthcare, and utilities sectors. The company has established strategic partnerships with Snowflake, Microsoft, and Databricks, and has developed a network of over 30 service partners to serve clients on a global scale.

“All data teams are looking at increasing productivity and agility. We automate every step of their cloud data warehouse or lakehouse. From setup to maintenance and beyond,” said Piet De Windt, CEO and co-founder of VaultSpeed. “We’re excited to team up with Octopus Ventures, they resonated with our ambition from the start to revolutionize the cloud data market. With this funding we aim to triple our revenue by 2025.” 

VaultSpeed secures $15,9 million in Series A funding to accelerate growth of its automated data transformation platform

Paul Davidson, Partner from Octopus Ventures: “Data warehouse automation is rapidly replacing conventional approaches to data warehouse creation which are becoming ineffective and obsolete. VaultSpeed have developed a no-code automation platform that we consider to be a best-in-class solution to address modern data engineering challenges, which often requires an ability to execute business intelligence or analytics projects in a matter of hours rather than months. We are delighted to partner with Piet and Dirk who have executed well on their vision for their solution to date and are confident that we can help them accelerate their ambitious international expansion plans.”

Marcel van der Heijden, Partner at Fortino Capital: “We’re delighted to continue to support Piet De Windt and Dirk Vermeiren and their team on their mission to push the boundaries of automation. The company has navigated well throughout the pandemic and post-pandemic period and has seen continued traction because they do fundamentally change the productivity of data teams. A must in the current AI era.”

Marcel van der Heijden

“VaultSpeed is at the forefront and will use the proceeds to maintain its competitive advantage. We have only just begun to tap into the vast potential of automation in the cloud data warehouse and lakehouse market. We are, for example, exploring how AI and abstraction can further revolutionize automation and target data model delivery.” stated Dirk Vermeiren, CTO and Co-Founder of VaultSpeed.

Roald Borré, Group Manager Equity Investments at PMV: “Automation of data-migration towards cloud environments is a key catalyst towards digitalization of companies. PMV is thrilled to support VaultSpeed in its rapid growth towards a leadership role in the data space. Combining the talents of the team and extra financial means, is a perfect recipe to further success.”

Ben Kolada and Eddie Harding at ICON Corporate Finance, who advised on the transaction, added: “We’re immensely proud to have advised Piet and the VaultSpeed team on this transformational funding round. The high-speed expansion VaultSpeed is experiencing is proof that the advanced automation capabilities of VaultSpeed’s data transformation platform are just what the market is asking for. Furthermore, Octopus Ventures’ deep sector experience and extensive international network makes them the perfect investor to partner with VaultSpeed for the company’s next growth stage.”

 

ABOUT VAULTSPEED

VaultSpeed is the Automated Data Transformation solution of choice for leading companies.  By combining automation templates, a data modeling GUI and a metadata repository in one platform, VaultSpeed helps businesses improve delivery and maintenance of their cloud data warehouse or lakehouse. With offices in London, Seattle, Leuven and Vilnius, VaultSpeed works with the likes of HDI, Olympus, Eurocontrol or Bleckmann. www.vaultspeed.com

 

ABOUT OCTOPUS VENTURES

Octopus Ventures is one of the largest and most active venture capital investors in the UK and Europe, investing in and supporting the people, ideas, and industries that are changing the world. It has built expertise across seven sectors: B2B software, climate tech, consumer tech, deep tech, fintech, biotech and health, and has backed more than 180 businesses across the UK and Europe, including successes like Zoopla, WaveOptics, and Depop. Octopus Ventures invests in people and teams from as early as ideas on a page all the way through to the later stages of growth, providing capital, expertise, and partnership. Octopus Ventures manages £1.9 bn for retail and institutional investors and invests £200m yearly. It is part of Octopus Investments, an investment company investing in the people, ideas and industries that will change the world. Hear from Octopus Ventures experts at www.octopusventures.com

 

ABOUT FORTINO CAPITAL

Fortino Capital is a European investment company with a focus on high-growth B2B software solutions managing two private equity growth funds and two venture capital funds. With offices in Belgium, the Netherlands and Germany, Fortino backs exceptional and ambitious entrepreneurs in Europe. Fortino’s Venture Capital portfolio includes Vertuoza (BE), TechWolf (BE), Timeseer.ai (BE), Zaion (FR), Salonkee (LUX), Sides (DE), D2X (NL), Peers (DE) and Kosli (NO) among others. Fortino Capital’s private equity growth portfolio includes VanRoey (BE), BizzMine (BE) MobileXpense (BE), Efficy CRM (BE), Tenzinger (NL), SpeakUp (NL), Cenosco (NL), Maxxton (NL), Stardekk (BE) and Bonitasoft (FR).

 

ABOUT PMV

As an investment company, PMV is building a sustainable Flemish economy, the engine of our prosperity and well-being. We partner with ambitious companies and projects that focus on social impact and financial return. PMV finances promising companies from the very start, through growth and internationalization. PMV offers tailored financial solutions to all entrepreneurs with a good business plan and a strong management team. It does so with capital, loans and guarantees. It also realizes, with and for the government, and other partners, projects that are important for prosperity and well-being in Flanders. PMV has a portfolio with 1.7 billion euros under management. Visit PMV’s website for more information (https://www.pmv.eu/en/).

 

ABOUT BNP PARIBAS FORTIS PRIVATE EQUITY

BNP Paribas Fortis Private Equity is the risk capital company of BNP Paribas Fortis. It has been operating in the private equity market in Belgium since the 1980s. BNP Paribas Fortis Private Equity currently acquires minority stakes and provides mezzanine financing to high-performance medium-sized companies. BNP Paribas Fortis Private Equity also invests in specialized venture capital and private equity funds in the Belgian market. Direct holdings of BNP Paribas Fortis Private Equity include Studio 100, Konings, eTheRNA, Hannecard, Quality Assistance, and PointChaud.

 

ABOUT CRONOS GROUP

At the Cronos Group, we unite entrepreneurship with a passion for innovation. Our technological expertise is harnessed to not only create opportunities but also foster growth and bring visionary ideas to life. We actively invest in startups, incubate promising concepts, and provide the resources, mentorship, and know-how needed for their success. With the spirit of entrepreneurship embedded in our DNA, we aim to create a future where innovation and human progress go hand in hand.  For more information, please visit https://cronos-groep.be/

 

ABOUT ICON CORPORATE FINANCE

With offices in London, Bristol and San Francisco, ICON specialises in M&A and fundraising internationally, working closely with the global M&A, Venture Capital, Private Equity and CVC communities.  Among its many deals, ICON has advised on exits to the like of Accenture, Crayon, Aptean, IQVIA, Aviva, NTT, Syniti, Telstra, and completed fundraising with JP Morgan, Synova, BGF, YFM, Mobeus and Moodys. Sector expertise includes AI & DataTech , FinTech, Cyber, HealthTech, Digital Media, EnablingTech, Enterprise Software and Managed Services.

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