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Novo Holdings co-leads €32 million Series A for Coave Therapeutics to advance pipeline of next-generation genetic medicines

Novo Holdings

Coave Therapeutics (‘Coave’), a biotechnology company focused on developing genetic medicines, today announced its €32 million ($33 million) Series A financing. The financing was co-led by Novo Holdings A/S and Bpifrance, with participation from Invus and UI Investissement, alongside existing investors Seroba Life Sciences, Fund+, Kurma Partners, Omnes Capital and Turenne Capital.

The financing will enable Coave to advance its proprietary ALIGATER™ (Advanced Vectors-Ligand Conjugates) platform, a breakthrough technology addressing key limitations in the delivery of genetic payloads to extra-hepatic tissues, including limited tissue specificity, delivery efficiency and safety.

ALIGATER™ enables conjugation of targeting ligands, such as small molecules, peptides, or antibody fragments, on AAV or non-viral vectors, offering superior delivery efficiency, tissue specificity and safety profile for a broad range of diseases.

The platform streamlines the manufacturing process by avoiding prior AAV capsid modifications. These capabilities could enable Coave to develop best-in-class genetic medicines designed for specific indications.

Further, the funding enables Coave to advance its lead pre-clinical assets towards clinical development, with a primary focus on the central nervous system (CNS), neuromuscular and eye diseases. Coave plans to advance two development candidates to CTA/IND-enabling studies in 2026.

“We are delighted to welcome this group of top-tier investors who share our vision for the ALIGATER™ platform. This funding is a critical milestone for Coave as we work to develop a new generation of targeted, safer, and more efficacious genetic medicines,” said Rodolphe Clerval, CEO of Coave. “It also reinforces our ability to expand collaborations with pharma and biotech partners, driving innovation in the field of genetic medicines for a broad range of diseases.”

Emmanuelle Coutanceau, Partner at Seed Investments, Novo Holdings, commented: “Coave’s unique technology platform, strong proof-of-concept data, and experienced team, position it at the forefront in the development of new generations of genetic medicines. Further, we are pleased to see Coave leveraging the strength of the Novo Holdings life science network by acquiring one of our early-stage companies operating in stealth mode. We are excited to announce this significant step in expanding Coave’s global footprint, with Denmark serving as a stepping stone in its international growth.”

“Coave, with its ALIGATER™ platform for creating a new class of targeted genetic medicines, has the potential to deliver groundbreaking new treatments to patients in need,” said Jean-François Morin, Investment Director at Bpifrance – InnoBio Funds. “With this Series A financing and a top-tier team, Coave will be able to progress its pipeline of internal programs.”

In connection to the financing, Emmanuelle Coutanceau and Jean Francois Morin will join Coave’s Board of Directors.

About Coave Therapeutics
Coave Therapeutics is a genetic medicine company pioneering the development of innovative solutions to enhance the precision, safety, efficacy and manufacturability of genetic medicines. With its proprietary ALIGATER™ platform, Coave is at the forefront of addressing challenges in gene therapy delivery to extra-hepatic tissues, creating a robust pipeline targeting CNS, neuromuscular and eye diseases.

Headquartered in Paris, France, Coave Therapeutics is backed by leading international life sciences investors. For more information about the science, pipeline, and people, please visit coavetx.com and follow us on LinkedIn.

About Bpifrance and InnoBio funds
Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurance. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export). InnoBio funds are investment funds dedicated to the life sciences, managed by Bpifrance, which is also one of the LPs alongside pharmaceutical companies and institutional investors. These funds aim to invest in companies developing innovative products, close to or in early clinical development, with the objective of bringing them to clinical proof of concept. InnoBio funds take minority equity stake in companies and can lead or co-lead the investment rounds. For more information, please visit: www.bpifrance.com

Further information

Novo Holdings
Marie-Louise Jersin, Senior Lead, Public Relations
maj@novo.dk

 

Coave Therapeutics 
Rodolphe Clerval, CEO
contact@coavetx.com

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IK opens Munich office and promotes three to Partner

IK Partners

IK Partners (“IK” or “the Firm”), a leading European private equity firm, is pleased to announce that it has opened a new office in Munich, Germany as part of its ongoing commitment to investing in the DACH region.

The Munich office will be led by Joachim Dettmar, Partner within IK’s Operations Team and Adrian Tanski, who has been promoted to Partner and sits within the Partnership Fund team. Previously based in IK’s Hamburg office, Adrian joined the Firm as an Associate Director in the DACH Mid Cap team in 2018, where he was involved in a range of transactions, including the exit of KLINGEL Medical Metal in 2023 as well as the acquisitions of MÜPRO in 2022 and CONET in 2021.

IK’s Partnership Fund strategy was launched in 2019 and targets larger, more established businesses at the higher end of the mid-market. IK invests alongside existing owners or new partners through minority positions.

In addition, IK is delighted to announce two further promotions to Partner across the Firm’s Hamburg and London offices:

  • Ingmar Bär – Development Capital Investment Team, Hamburg
  • Alexandra Kazi – Finance and Administration Team, London

Christopher Masek, Chief Executive Officer at IK, commented: “After what has been another very successful year for IK, we are delighted to celebrate the contributions of Adrian, Ingmar and Alexandra, whose commitment and efforts have been recognised through their promotions to the Partner Group. Furthermore, we are reinforcing our well-established base in the DACH region with the opening of a new office in Munich, helping to cement our position as one of the leading partners to European small and medium-sized enterprises.”

Adrian Tanski, Partner at IK, commented: “I am thrilled to be heading up IK’s new Munich office, together with Joachim, to strengthen our presence in the dynamic and attractive DACH market. Munich’s thriving economy, strong industrial base and access to high-calibre talent make it an ideal location for expanding our reach and originating exciting investment opportunities.”

For further questions, please contact:

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

ENDS

Adrian Tanski

  • Adrian Tanski joined IK in 2018 and is the Partner responsible for the DACH Partnership Fund Investment team, based in Munich.
  • He specialises in the Industrials sector and has been involved in several Mid Cap and Partnership Fund transactions across the DACH region.
  • Prior to joining IK, Adrian worked at Emeram Capital Partners, having gained an MBA from London Business School as well as a BA in Business Administration from the University of St. Gallen.
  • In addition to his professional skills, Adrian is an accomplished concert pianist.

Ingmar Bär

  • Ingmar Bär joined IK in 2018 and is the Partner responsible for the DACH Development Capital Investment team, based in Hamburg.
  • He has been involved in several Small Cap and Development Capital transactions across the DACH region.
  • Prior to joining IK, Ingmar worked at Triton Partners, having gained an MBA from INSEAD, a MSc in Finance from Bocconi University and a MSc in Accounting from Rotterdam School of Management.

Alexandra Kazi

  • Alexandra Kazi joined IK in 2017 and is the Partner responsible for Tax, Legal and Corporate Operations at IK.
  • She has responsibility for structuring matters across IK, its funds and transactions, as well as oversight of tax reporting, governance and various operational initiatives.
  • Prior to joining IK, Alexandra was employed at PwC, having qualified as an ACA Accountant and gained a BSc in Economics and Chinese Studies from the University of Nottingham.

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 €17 billion of capital and invested in more than 195 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 ikpartners.com

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Ardian launches a Continuation Fund with Syclef to support its next phase of growth

Ardian

Ardian, a world-leading private investment house, announces the successful closing of a newly formed Continuation Fund for Syclef, a leading European firm specializing in the installation and maintenance of refrigeration and air conditioning systems.

Representing Ardian’s first Private Equity Continuation Fund, this fund will be managed by Ardian and capitalized by Eurazeo as senior lead investor and Astorg as co-lead investor, following a competitive auction process. The fund comprises commitments from existing investors of Ardian Expansion Fund V and new investors, alongside a significant equity contribution from both Syclef’s Management team, and the Expansion team. The Continuation Fund includes substantial additional capital to further support Syclef’s organic growth plan and acquisition pipeline.

Since Ardian’s investment in November 2020, Syclef has continued to demonstrate outstanding performance. The company has consolidated its market position in France while successfully pursuing its M&A strategy internationally. Today, the Group is recognized as a key player in the energy transition, supporting its customers in the installation of custom-designed natural fluid systems across the refrigeration and air conditioning markets.

Ardian will support the company’s next phase of growth, enabling Syclef to further pursue its international expansion and support the refrigeration and air conditioning industries in transitioning to more efficient natural fluids, allowing Syclef’s clients to improve their energy efficiency and reduce environmental impact.

“We are very proud to have completed the first Private Equity Continuation Vehicle of Ardian with close to 50% of new LPs. It is a great recognition of the Expansion team’s investment strategy to support visionary entrepreneurs in mission-critical companies.” François Jerphagnon, Executive President of Ardian France and Head of Expansion, Ardian

“We are delighted to extend our collaboration with Syclef and the Group’s Management team. We are confident that the extension of this strategic partnership will enable Syclef to pursue its continuing growth trajectory across Europe and further establish itself as a European leader in natural fluids refrigeration and air conditioning systems.” Marie Arnaud-Battandier, Managing Director Expansion, Ardian

“We are delighted to renew our support for Syclef in this next phase of its development. Syclef is now recognized as a key player driving the energy transition across the high-growth refrigeration and air conditioning sectors.” Arthur de Salins, Managing Director Expansion, Ardian

“The entire Management team is delighted to renew its partnership with Ardian’s Expansion team. With Ardian’s support, Syclef has become a much more diversified player geographically. The Group has broadened its offer to the market and is in a stronger position both in financial and extra-financial terms. Thanks to its local presence across Europe and strong expertise in business services, Ardian will be a valuable asset in the ambitious next phase of the Group’s development.” Hervé Lohéac, Chairman, Syclef

LIST OF PARTICIPANTS

  • Participants

    • Ardian : Marie Arnaud-Battandier, Arthur de Salins, Thomas Grétéré, Badr M’haidra
    • Eurazeo: Christophe Simon, Amine Rais, Théo Charpentier, Mahdi Benerradi
    • Astorg: Sebastiaan van den Berg, Michal Lange, Ben Deanfield, Chuck Sandilya

  • Continuation fund

    • Advisor: Lazard Private Capital Advisory (Marion Cossin, Jérôme de Vienne, Thibault Principaud)
    • Fund Lawyers: Clifford Chance (Xavier Comaills, Elodie Cinconze, Alexandre Gardini, Laura Ferrier
    • Corporate Lawyers: Latham & Watkins (Olivier du Mottay, Louise Gurly)
    • Financing Lawyers: Latham & Watkins (Xavier Farde, Carla-Sophie Imperadeiro)
    • Strategic Due Diligence: LEK (David Danon-Boileau, Charles Petracco, Pierre Demuyt)
    • Financial Due Diligence: KPMG (Olivier Boumendil, Benjamin Patte)
    • Legal, Tax and Social Due Diligence: Delaby & Dorison (Emmanuel Delaby, Romain Hantz, Romain Bellamy); GCA (Thomas Brillet)
    • Alexandre Gaudin, Guillaume Oger, Athida Nhouyvanisvong); Valoren (Virginie Lockwood)

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $176bn of assets on behalf of more than 1,720 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT SYCLEF

Founded in 2003, Syclef is a leading European player in the installation and maintenance of refrigeration systems. The Group is specialized in medium and large refrigeration installations, in industrial refrigeration (logistics platforms, storage warehouses, food processing, etc.), commercial refrigeration (supermarkets, convenience stores, etc.) and air conditioning. The Group’s customer base relies on Syclef to manage its complex and critical refrigeration systems. The Group benefits from a key player position in the energy transition, using innovative sustainable technologies such as natural refrigerant fluids.

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Smartfin closes third growth fund at €250 million with backing from EIF

Smartfin

investments in Europe’s leading B2B technology scale-ups

  • Smartfin closes its fifth fund (and third growth fund) at its €250m target.
  • Backers of the new fund include returning private and institutional investors as well as new ones, including for the first time the European Investment Fund through its ESCALAR program.
  • The new fund enables the firm to double down on investing in Europe’s most promising B2B technology companies, with now more than €600m in total investment commitments.
  • Two recent investments with the new fund, dubbed Smartfin Capital III, have already been announced: CrazyGames and Emma.

Brussels, Belgium – 9 January 2025: Smartfin, a leading growth equity investor in European B2B technology companies, has successfully closed its third growth fund at its €250 million target.

This fund marks a significant milestone for the firm, with an introductory participation of the European Investment Fund (EIF) through its ESCALAR program to address the financing gap experienced by European high-growth companies.

The closure of its third growth fund brings Smartfin’s total investment commitments to over €600 million, only a decade after its founding in 2014.

The successful fundraise, notably in challenging market conditions, underscores the trust and confidence of both new and returning investors in Smartfin’s investment strategy and track record.

The new fund, dubbed Smartfin Capital III, will focus on growth-stage B2B technology companies across Europe, furthering Smartfin’s commitment to supporting transformative tech scale-ups that drive innovation and deliver long-term value.

Smartfin has already made its first two investments with the new fund: CrazyGames (a global browser-based casual gaming platform) and Emma (a leading multi-cloud management platform designed to streamline and optimize cloud infrastructure).

A Proven Track Record of Success

Smartfin Capital III is the firm’s fifth fund, building on the success of its two early-stage funds (Smartfin Ventures I & II) and two prior growth funds (Smartfin Capital I & II). In the past decade, Smartfin has established itself as a key player in the European tech ecosystem, with a portfolio of innovative companies that span multiple sectors.

Notable active and past investments across its funds include Deliverect, a leading provider of food delivery integration software; Bright Analytics, a consolidated management reporting platform;  Recharge, a global one-stop-shop branded payments platform; Hex-Rays, a specialist in reverse engineering software; Zivver, a secure communications platform for email, video and file sharing; Silverfin, a cloud-based platform transforming accounting workflows acquired by Visma; Theo Technologies, a global leader in video streaming technology acquired by Dolby; Newtec, a pioneer in satellite communications acquired by ST Engineering; and UnifiedPost, a publicly listed fintech company revolutionizing invoicing and payments for SMEs.

For more information on our portfolio, please visit https://smartfinvc.com/portfolio/.

These investments demonstrate Smartfin’s ability to identify and support exceptional growth companies, helping them scale and succeed in competitive markets. Smartfin’s approach combines strategic guidance, operational expertise, a long-term view and access to an extensive network, ensuring that portfolio companies are well-positioned to achieve their growth ambitions.

“This successful fundraise reflects the strength of our team and the confidence our investors place in us.” said Jürgen Ingels, Founding Partner of Smartfin. “The partnership with EIF, through the ESCALAR program, is an international quality stamp that reaffirms our commitment to backing exceptional entrepreneurs and fostering innovation in Europe’s B2B technology ecosystem. We are excited to continue building on our strong track record and scaling the next generation of tech leaders.”

EIF Partnership: A Stamp of Quality

The inaugural participation of the EIF in Smartfin Capital III through its ESCALAR program represents a significant endorsement of Smartfin’s investment philosophy and performance.

ESCALAR, established by EIF to provide growth financing to high-potential funds and companies, will enable Smartfin to expand its impact and support more promising ventures across Europe, while at the same time providing a stepstone in further institutionalizing its operations.

“Investing in scale-ups and technology is not just about fostering innovation; it’s about empowering the next generation of leaders who will drive Europe’s economic growth and global competitiveness. With Smartfin we want to support an innovation ecosystem where European technology companies and entrepreneurship can thrive,” commented Marjut Falkstedt, EIF Chief Executive.

About Smartfin

Smartfin is a European venture and growth capital investor, managing over €600 million in investment commitments and investing in early and growth-stage B2B technology companies. Smartfin has an open-ended investment philosophy and invests throughout Europe. Smartfin’s team combines a successful venture capital and private equity investment track record with extensive operational experience in setting up, building, and managing leading international technology companies. This differentiates Smartfin as an experienced and entrepreneurial, truly hands-on and value-added partner to its portfolio companies. For more info, please visit https://www.smartfinvc.com.

About EIF

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of sustainability, innovation, research and development, entrepreneurship, growth and employment. For more info, please visit https://www.eif.org/index.htm.

 

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Hans Sahlin new CEO of Speed Group

Ratos

Ratos has appointed Hans Sahlin as the new CEO of Speed Group (Speed), a leading logistics and staffing company in the Nordics. Hans Sahlin previously served as Deputy CEO of the company. He took over his new role today, 8 January 2025, succeeding Jesper Andersson, one of Speed Group’s founders and CEO since 2022. Jesper Andersson will move into an advisory role.

Hans Sahlin has a solid background in leadership and business development at logistics and property companies. Since his recruitment as Deputy CEO, he has played an important role in driving strategic initiatives and ensuring Speed’s continued positive development. With a clear focus on growth, innovation and sustainability, he is now ready to lead the company into its next phase.

“Hans Sahlin has made very positive contributions, so we are delighted that he has accepted the offer to become the company’s new CEO. Now that we’ve secured a new multi-billion deal with our major customer Ericsson, and with an overall stable performance in the company, this is great timing for a new CEO to take the reins. I look forward to our future collaboration. I would also like to thank Jesper Andersson for his outstanding and important contributions to Speed over all these years,” says Christian Johansson Gebauer, Chairman of the Board of Speed Group and President, Business Area Construction & Services, Ratos.

“I’m pleased and honoured to be entrusted to lead Speed into its next phase. The company has a strong position in the market and a unique business model that I look forward to continuing to develop together with our employees and customers,” says Hans Sahlin, incoming CEO of Speed Group.

Jesper Andersson, who has played a key part in Speed’s journey from startup to one of the leading providers of logistics and staffing solutions in the Nordics, is now passing the baton. However, he will remain at Speed Group in an advisory role.

“Speed has been a part of my life for two decades and I’m incredibly proud over what we’ve achieved together. I look forward to continuing to contribute in my new role and to following the company’s development under Hans Sahlin’s leadership,” says Jesper Andersson.

About Speed Group
Speed offers sustainable, flexible and innovative solutions to complex logistics and staffing challenges. Sustainability permeates the entire business, and the aim was to become carbon neutral by 2025, something that was already achieved by 2023. Speed has its head office in Borås, Sweden, and logistics centres in Borås, Gothenburg, Stenungsund and Stockholm covering a combined total of more than 220,000 square metres. The company has sales of approximately SEK 1 billion and employs around 1,000 people.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21
Hans Sahlin, incoming CEO, Speed Group, +46 76 607 30 87

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 16 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 32 billion in net sales (September LTM). We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Categories: People

Jensen Hughes Names Marc Kaplan New President & Chief Operating Officer

Gryphon Investors

ensen Hughes, a global leader in safety, security, and risk-based engineering and consulting, today announced the appointment of Marc Kaplan as its new President & Chief Operating Officer (COO). The appointment follows an extensive search that attracted top talent from around the world.

With more than 25 years of executive leadership experience, Kaplan has a distinguished track record of driving operational excellence, innovation and growth across a diverse array of organizations — from dynamic startups to multibillion-dollar global enterprises — with notable success in professional services consulting. Most recently, Kaplan served as Chief Executive Officer (CEO) of CIBT, a global mobility services leader, where he revitalized the business post-pandemic.

Kaplan previously held executive roles at Deloitte, including Principal and Chief Strategy and Transformation Officer, where he led one of the firm’s fastest-growing business units and drove transformational initiatives. He has also held key positions at The Associated Press and ChekMarc, Inc., a digital software company he co-founded in 2020.

“Marc brings a rare combination of people focus, strategic thinking and a collaborative, hands-on approach to Jensen Hughes,” said Raj Arora, CEO of Jensen Hughes. “With his expertise in operational efficiency and growth, culture-building and talent management in professional services, his leadership will be invaluable as we continue to innovate and expand into new regions and service lines.”

In his new role as President & COO, Kaplan will oversee Jensen Hughes’ global operations, leading a diverse team of professionals and managing multiple business units. His responsibilities will include guiding top operational leaders, implementing strategic growth-driven initiatives, optimizing performance metrics and fostering employee engagement and retention.

Kaplan assumes this critical role at an exciting time for the company, as 2025 marks a decade of the Jensen Hughes brand and its continued expansion. Since 2014, strategic acquisitions have broadened the company’s expertise in fire and life safety, code consulting, risk analysis, process safety management, security risk, emergency management and forensics while strengthening its global presence. Jensen Hughes is backed by middle market private equity firm Gryphon Investors.

“I’m honored to join Jensen Hughes at such a pivotal time in the company’s journey,” Kaplan said. “Raj and the team have built an incredibly strong business foundation and culture, seamlessly blending experience in legacy services, innovative solutions, industry-leading expertise and cutting-edge technology. My focus will be on enhancing and executing our existing strategies in order to unlock new opportunities for growth while continuing to deliver exceptional value to our clients and communities.”

About Jensen Hughes

Jensen Hughes is the global leader in engineering, consulting and technology that make our world safe, secure and resilient. Worldwide, we are recognized most widely for our leadership in fire protection engineering while also specializing in other critical competencies core to our purpose – strategic capabilities we have been expanding for years. These include accessibility consulting, risk and hazard analysis, industrial process safety, forensic investigations, security risk, and emergency management, as well as digital innovation across many of our services. Today, our 1,700+ engineers, consultants, analysts and strategists work from over 100 offices, supporting clients in over 100 countries across all markets – from government, healthcare, science and technology to energy, mission-critical and transportation. For more information, visit www.jensenhughes.com.

About Gryphon Investors

Gryphon Investors is a leading middle-market private investment firm focused on profitably growing and competitively advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, Software and Technology Solutions & Services sectors. With approximately $9+ billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon’s highly differentiated model integrates its well-proven Operations Resources Group, which is led by full-time Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance and accounting expertise. Gryphon’s three core investment strategies include its Flagship, Heritage and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $500 million per portfolio company. The Junior Capital strategy targets investments of $10 million to $25 million in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon’s targeted investment sectors. For more information, visit www.gryphoninvestors.com.

Categories: People

Ardian Semiconductor Completes Acquisition of Synergie Cad Group, a Leading Semiconductor Test Interface Company

Ardian

Ardian, a world-leading private investment house, announces that it has completed the acquisition of Synergie Cad Group, a leading player in the design and manufacture of semiconductor test interface solutions. This acquisition follows the acquisition of IBS in October 2024 and represents the second investment of Ardian Semiconductor, the pioneering private equity investment platform dedicated to the semiconductor industry, formed through an exclusive strategic partnership with Silian Partners.

Founded in 1986 and based in Carros, France, Synergie Cad specializes in the development of advanced test interface solutions enabling leading semiconductor companies to optimize the testing and validation of their complex chip designs. With a strong reputation for quality, reliability, and customization, across a wide range of semiconductor applications, Synergie Cad has established itself as a trusted partner to a diverse range of customers globally.

Through this acquisition, Ardian Semiconductor aims to accelerate Synergie Cad’s growth by leveraging its extensive industry expertise and global network, enabling the company to expand its product offering and enhance its market position. The partnership will focus on innovation, operational efficiency, and augmented customer intimacy, providing the company with the resources it needs to scale and meet growing demand for increasingly sophisticated test interface solutions.

Prior to the acquisition, Synergie Cad was owned by Alain Librati, the management team, Prudentia Capital, and BNP Paribas Développement. Ardian Semiconductor acquired a controlling stake in the company, whilst Alain Librati, the management team and BNP Paribas Développement have reinvested as minority shareholders.

“We are thrilled to partner with Ardian and Silian Partners, who bring a unique set of financial, strategic and operational capabilities, which will be invaluable to help us accomplish our ambition to accelerate our growth and continue to enhance the value we deliver to our customers. We are thankful to Prudentia Capital and BNP Paribas Développement who have supported us since 2020 to invest in a state-of-the-art manufacturing facility in Vietnam, which will be a strategic asset underpinning our future growth strategy.” Alain Librati, CEO and Co-founder, Synergie Cad

“We are honored to join forces with Synergie Cad, which strongly aligns with our mission to transform proven European technology companies into global leaders in their market segment. We are committed to bringing the required resources and support to Alain Librati and his team to help them fulfill the potential of the company.” Lise Fauconnier, Senior Managing Director, Ardian

“We have been impressed by Synergie Cad’s technical achievements, know-how and excellent reputation with customers globally. This represents an ideal foundation for us to build upon and create value by bringing our experience and expertise in strategically pivoting and scaling companies.” Christophe Duverne, Partner, Silian Partners

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $176bn of assets on behalf of more than 1,720 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.

At Ardian we invest all of ourselves in building companies that last.

Ardian Semiconductor, a pioneering private equity investment platform dedicated to the semiconductor industry, was formed by Ardian through an exclusive strategic partnership with Silian Partners, a team of highly successful senior executives from the semiconductor industry totaling more than 140 years of experience, contributing unique industry relationships, strategic vision, and operational focus. Ardian and Silian Partners work as One Team to bring innovative and flexible capital solutions, as well as strategic and operational capabilities, to transform strong technology companies into global leaders in their market segments. Ardian Semiconductor is uniquely positioned to seize opportunities in the semiconductor industry, a critical enabler of the digital transformation, AI revolution and green transition of the global economy. The industry is forecasted to double in size over this decade to reach $1 trillion by 2030 driven by powerful and predictable technology megatrends.

ardian.com

ABOUT SYNERGIE CAD

Founded in 1986 and headquartered in Carros, France, Synergie Cad has been designing and manufacturing semiconductor test interfaces alongside complementary services for the world’s most complex test applications for over 35 years. With design and manufacturing operations strategically located throughout Europe, Asia and North America, Synergie Cad is well positioned to seamlessly provide test interface solutions to our Global customer base.

synergie-cad.com

ABOUT BNP PARIBAS DEVELOPPEMENT

BNP Paribas Développement is an independent subsidiary of BNP Paribas which has for more than 35 years taken minority stakes in successful SMEs to support their growth and secure their long-term development by facilitating their transmission. In addition to providing the financial resources that permit stability, BNP Paribas Développement’s mission is to assist management teams in carrying out strategic medium-term projects. As a minority shareholder we provide our partners with appropriate governance without interference in day-to-day management. They also benefit from the strength of a leading banking group and the experience of a partner with more than 500 diversified investments, including 80 startups.

bnpparibasdeveloppement.com

Media contacts

Ardian

HEADLAND

ardian@headlandconsultancy.com

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Main Capital Partners announces investment in Dutch automotive software player UnameIT

Main Capital Partners

This investment marks Main’s entry into the automotive software market, a large segment with significant untapped potential.

Founded in 1996 and headquartered in Woerden (NL), UnameIT is a leading provider of automotive software solutions across the Benelux region. The company’s integrated suite of solutions helps customers manage their total commercial sales and aftersales processes, including lead management, targeted sales management, marketing campaigns and retargeting. Additionally, UnameIT offers a range of other complementary products that together provide end-to-end coverage of the commercial processes of automotive dealerships and OEM’s (Original Equipment Manufacturer).

The automotive market is vast and evolving, and still ranks relatively low in terms of its level of digitization, offering an abundance of opportunities for software providers with innovative offerings. Thanks to strong leadership and a differentiating suite of solutions, UnameIT represents an attractive platform for Main with a market leading position. UnameIT’s client base mostly consists of large dealers, including single-brand dealers, multi-brand dealers and independent automotive companies. Furthermore, UnameIT’s customer base also includes OEM’s, leasing companies and importers, a.o. serving brands such as Renault, Ford, Van Mossel, Stellantis and Bosch.

Collaboration between UnameIT and Main
The management team of UnameIT will retain a significant minority stake and will stay closely involved post-closing. Main will leverage its experience in B2B software markets to support the management in further internationalization of the company (i.e. into the DACH-region, where the business is already taking its first steps). UnameIT’s growth strategy will aim to grow the company internationally, both organically, as well as through a selective buy-&-build strategy.

Robert van Adelerhof, CEO of UnameIT, said, “We are very happy to announce our partnership with Main, as this is the right time for us to extend our reach. Over the years, we’ve built UnameIT to what it is today: a software supplier for automotive dealerships in the Benelux-region, among which the majority of the largest dealer holdings. Our tools are focused on helping dealerships navigate their core processes in a more efficient way, helping them to gain more control over their processes, and improve their commercial performance and bottom-line results. The partnership with Main will try to help us reach our goal to become a leading European automotive software player, as their proven track record in B2B SaaS will be invaluable in guiding us through the next phase of growth of our company.”

Jeffrey Sanya, Investment Director at Main, concluded, “We are excited to announce that Main is partnering with UnameIT, a prominent player in the Dutch automotive software market. UnameIT plays a crucial role in supporting the largest dealerships in the Netherlands, within an industry that presents significant growth potential. We see numerous opportunities to assist the team in advancing digital transformation in the sector and expanding UnameIT’s suite into neighboring markets, such as Germany. We look forward to embarking on this new partnership and, alongside the management team, we are committed to guiding UnameIT to become a leading European automotive software provider.”

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Apax Funds to Sell Their Majority Stake in Paycor HCM, Inc. to Paychex, Inc.

Apax

Apax Partners LLP (“Apax”) today announced that Paycor HCM, Inc. (Nasdaq: PYCR) (“Paycor”), a leading provider of human capital management (“HCM”) software, has entered into a definitive agreement with Paychex, Inc. (Nasdaq: PAYX) (“Paychex”) to be acquired in an all-cash transaction for $22.50 per share, representing a total enterprise value of $4.1 billion.  Funds advised by Apax, together with certain of their affiliates, currently own a majority of Paycor’s outstanding common stock.

The Apax Funds acquired a majority stake in Paycor in November 2018 for $1.3 billion and took the company public in July 2021. Over the past six years, Apax has partnered closely with Paycor’s leadership team in the transformation of the company – accelerating its top-line growth, expanding it into tier one cities across North America, and building a modern HCM platform for the mid-market.

Jason Wright, Partner at Apax and Chair of Paycor’s Board of Directors, said: “We could not be more proud of our partnership with Raul and the Paycor team. The company has tripled in size since the original investment. This exceptional growth was fueled by strategic investments in product and customer service. Paycor’s world-class management team has created an industry leader in mid-market HCM software.”

Raul Villar, Jr., Chief Executive Officer of Paycor, said: “Apax has been a committed and valuable partner to Paycor over the past six years. Jason and the Apax team have been instrumental in shaping Paycor’s strategic vision, investing for long-term profitable growth and scaling our overall enterprise capabilities. We thank the entire Apax team for their guidance and unwavering support for Paycor and our loyal associates and clients.”

Funds advised by Apax have a long history of investing across the software industry and in subsectors such as HCM software. In 2024, the Apax Funds acquired the Zellis Group, one of the leading providers of payroll and HR software solutions to customers in the UK and Ireland and an emerging leader in the global benefits administration software market. Other noteworthy past and current software industry investments include Duck Creek Technologies, Epicor Software Corporation, Sophos Group, ECi Software, and RealPage, Inc.

Goldman Sachs & Co. LLC is serving as Paycor’s exclusive financial advisor and Kirkland & Ellis LLP is serving as Paycor’s legal advisor.

 

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FIRE1 Secures $120 Million Financing to Revolutionize Heart Failure Care

GIMV

FDA awards Breakthrough Device Designation to Fire1’s Norm™ system

DUBLIN – Strictly embargoed to 08.00 hours GMT/Dublin time Jan. 7, 2025

FIRE1, a leading connected medical device solutions company, today announced the successful completion of a $120 million financing round to accelerate the company’s mission to transform the lives of millions of people living with heart failure.

FIRE1’s Norm™ heart failure management system offers a groundbreaking approach for patients to manage heart failure. By enabling patients to engage in physician directed self-management, Norm reduces the burden on healthcare staff, making it easier to keep patients healthier and at home. The funding will enable the company to complete a pivotal clinical trial of the Norm™ system.

The round was led by Polaris Partners and Elevage Medical Technologies, joined by new investors Sands Capital and Longitude Capital, and existing investors Andera Partners, Gilde Healthcare, Gimv, the Ireland Strategic Investment Fund, Lightstone Ventures, Medtronic, NEA (New Enterprise Associates), Novo Holdings, and Seventure Partners.

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