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Eurazeo sells its stake in ANF Immobilier

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Eurazeo

Eurazeo announces the completion of the sale of Eurazeo’s majority stake in ANF Immobilier at €22.15 per share, following satisfaction of the conditions precedent set-out in the sales agreement of October 10, 2017 (see Eurazeo press release of October 11, 2017). As a long-term responsible shareholder, Eurazeo is proud to have accompanied ANF Immobilier’s development for 13 years.  With this support, ANF Immobilier successfully restructured its historical assets in Marseille and Lyon. The real estate investment company also implemented an active development policy in its two historic cities, as well as Bordeaux and Toulouse, becoming a pivotal tertiary real estate player in the French regions.

Eurazeo realizes a disposal gain of €213 million, an investment multiple of 2. 3x and an IRR of 13%. Pro forma of this transaction and taking account of recently announced transactions, Eurazeo has net cash of nearly €700 million.

ANF Immobilier also signed today provisional sales agreements with Two companies controlled by Primonial REIM for its historic housing and commercial real estate portfolio mainly located in Marseille, and a building in Lyon. These agreements were entered into for a total consideration of €400 million, excluding transfer taxes payable by the purchaser.

The sale of Eurazeo’s majority stake will be followed by a mandatory public takeover bid(the “Public Takeover Bid”) by Icade for the remaining ANF Immobilier shares at €22.15 per share, representing a 10.2% premium on the average price over the three months preceding the start of exclusive negotiations announced on July 24, 2017.

The Public Takeover Bid is expected to be launched in November 2017, subject to publication by the AMF of a compliance notice.

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About Eurazeo

With a diversified portfolio of approximately €6 billion in assets under management, of which €1 billion is from third parties, Eurazeo is one of the leading listed investment companies in Europe. Its purpose and mission is to identify, accelerate and enhance the transformation potential of the companies in which it invests. The Company covers most private equity segments through its five business divisions – Eurazeo Capital, Eurazeo Croissance, Eurazeo PME, Eurazeo Patrimoine and Eurazeo Brands. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. Eurazeo is notably a shareholder in AccorHotels, Asmodee, CIFA, CPK, Desigual, Elis, Europcar, Fintrax, Grape Hospitality,Iberchem,Les Petits Chaperons, Rouges, Moncler, Neovia, Novacap, Sommet Education, Trader Interactive, and also SMEs such as Péters Surgical and Groupe Flash, as well as start-ups such as Farfetch and Vestiaire Collective.

 

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Gimv’s & UI Gestion’s majority stake in Almaviva Santé to be acquired by Antin Infrastructure Partners

GIMV

Gimv and UI Gestion today announced having signed exclusivity to negotiate the sale of their stake in Almaviva, the fifth largest private hospital group in France, to Antin Infrastructure Partners. In the period that Gimv and UI Gestion were involved with Almaviva, the company more than tripled in size to become the number one player in the PACA-region and to establish a strong second pole of clinics in the Paris’ region.

Almaviva Santé (www.almaviva-sante.fr) was founded in 2007 by its CEO Bruno Marie with the acquisition of only one hospital in Marseille, but with the clear ambition to create a regional group of high quality private hospitals. Towards the end of 2013, when Almaviva had already grown into a small group of seven private clinics, Gimv and UI Gestion acquired a majority stake in the group. The goal was to help transform Almaviva into one of the leading private clinic groups in France. Today, after a very intense growth trajectory – consisting of acquisitions, mergers, and organic growth – Almaviva has grown into the fifth largest private hospital group in France with 30 clinics, of which 16 in Provence-Alpe-Côte d’Azur (making it the number 1 player in the region) and 14 in the Paris region. An important step in this development was the merger with Domus clinics owned by Sagesse Retraite Santé (SRS), the investment vehicle of Yves Journel.

Almaviva covers most medical and surgical disciplines: surgery, gynaecology-obstetrics (maternity), general medicine and rehabilitation care. It has an excellent reputation in all surgical fields, but especially in orthopaedics, ophthalmology, cardiology and urology. The whole group manages 2,700 beds, 190 operating and examination rooms, employs more than 3,300 people as well as 1,100 independent physicians. In 2017, Almaviva is expected to generate revenues in excess of EUR 300 million, or a more than tripling from the EUR 100 million it realised back in 2012. The different clinics have been able to develop their medical project in order to create an efficient healthcare network that offers its patients an integrated care pathway with a local touch whereby quality, comfort and safety are being combined. It is Almaviva’s ambition to further strengthen its position as a leader in the region by pursuing further expansion and continued operational improvement of its clinics and by extending its care offering.

Gimv and UI Gestion have entered into exclusive negotiation to sell their majority stake in Almaviva Santé to Antin Infrastructure Partners, a leading European private equity firm focused on companies with infra characteristics, amongst which social infrastructure. SRS, as well as the company’s management-team will remain shareholders of Almaviva Santé.

Bruno Marie, CEO of Almaviva Santé, on his experience with a private equity partner: “We are pleased having had Gimv and UI Gestion to accompany us during the past 4 years. Thanks to their support, we were able to run a successful partnership during this period of exceptional expansion for Almaviva. We are confident that we will be able to pursue this trajectory with strong partners such as Antin and Yves Journel.”

“Almaviva Santé is a role model of a successful growth investment, which perfectly fits with our Health & Care strategy. We are glad that we were able to play an important role in the shaping & execution of the group’s strategy & organization, its buy & build trajectory and its financing. Our team is proud that it was able to contribute significantly to the second growth phase in the company’s expansion,” adds Bart Diels, Managing Partner of Gimv’s Health & Care platform.

Benoit Chastaing, Partner in Gimv‘s Health & Care team and board member of the company comments: “Whereas buy & build strategies in this type of market obviously need to be driven by economic reasons such as critical mass and synergies, Almaviva and Bruno Marie chose to differentiate themselves from other consolidators by focusing on the implementation of ambitious medical projects, the search for excellence and the preservation of the strong identity of the different Almaviva clinics. This is the key to the success of Almaviva Santé and its management team. Therefore we are proud having contributed to this achievement.”

Olivier Jarrousse, Managing Partner of UI Gestion, concludes: “Moving from seven establishments to thirty, tripling the turnover, while continuously keeping the focus on excellence is a tremendous achievement. We are proud having been able to participate and contribute to this project, which was carried by Bruno Marie, an excellent developer. It is UI’s goal to play an important role in the transformation of companies. Therefore we are happy that our Health-team led by Sébastien Alauzet contributed to this achievement. We are also proud and happy to hand over this project to a prestigious actor such as Antin, who will enable the group to take the next step in its development.”

Almaviva Santé was the first investment of the Gimv Health & Care Fund, which was launched in 2013. Today, it is also the Fund’s first exit. Over the entire holding period, the investment in Almaviva generated a return well above Gimv’s long-term average return, with a positive impact on the equity value at 30 June 2017 of about EUR 0.75 per Gimv-share. No further details about this transaction will be disclosed.

The transaction, which is expected to close by end December, is subject to customary closing conditions with Almaviva’s work councils and approval by the competition authorities.

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GTreasury Announces $42 Million Growth Investment from Mainsail Partners

Mainsail partners

Investment to Accelerate Product Development and Fund International Expansion

LAKE ZURICH, IL, October 24, 2017 – GTreasury, a leading provider of Treasury Management Systems (TMS), today announced a $42 million investment from Mainsail Partners, a growth equity firm that exclusively invests in profitable, fast growing technology companies.  GTreasury will use the new capital and Mainsail’s extensive resources to accelerate product development, expand internationally, and enhance GTreasury’s customer service.

GTreasury was co-founded over thirty-one years ago by Orazio Pater, CEO, and his wife Peg, General Manager, and offers the longest tenured and holistically developed TMS in the industry. The company’s software suite includes its industry-leading Cash Management and Funds Transfer solutions which provide essential insights, automation, and tools to help large enterprises manage global liquidity.  The company also offers Accounting, Banking, and Financial Instruments solutions to help treasury departments automate accounting procedures, manage banking relationships, analyze bank fees, and manage investment and debt activity.  To facilitate these services, the company has direct connections with over 2,000 banks globally, and integrations with hundreds of ERP and 3rd party systems.

“We built our company by creating mission critical products and providing top tier service to our customers and partners,” said Mr. Pater.  “This partnership with Mainsail will allow us to double down on those efforts by accelerating innovation and delivering even greater value to treasury departments,” added Pater.  “We chose Mainsail for their experience scaling technology companies and because they share our vision for building a global business with a focused mission – build powerful software that provides greater visibility and control for corporate treasuries while never outgrowing the intimate client service experience that is necessary for companies to maximize value.  In Mainsail we were looking not just for additional financial resources, but also for a true long term partnership.”

“We see an opportunity to take an even greater leadership role in the market through innovation and expansion of our products and services,” adds Ashley Pater, Senior Vice President of Product Marketing.  “Our goal is to stay one step ahead of the needs of our clients and this investment will help us achieve that goal.”

Vinay Kashyap, Principal at Mainsail Partners, said, “Due to a number of factors, the role of the treasury department at enterprise corporations has become increasingly difficult and more important than ever.  Rapid globalization, economic volatility and changing regulations have added complexity for Treasurers, putting more pressure on their organizations” added Kashyap.  “The GTreasury team has built a suite of products that reduces the complexity and workload for treasury departments and allows them to focus on more strategic priorities.  Combined with a deep set of best practices and intellectual property from over 31 years in this business, the consultative and high-touch approach to their clients is second to none. We are excited to invest behind this high-quality management team and a company that is so well positioned in this rapidly evolving market.”

In connection with the growth equity investment from Mainsail, GTreasury recently announced the opening of its first international office, in London, to support global expansion and its existing multinational customer base.

 

About GTreasury

Originated in 1986, GTreasury is the global leader of treasury management solutions for organizations spanning the world. GTreasury’s solution illuminates a treasury’s liquidity by centralizing all incoming and outgoing banking activities, along with tracking all financial instrument activities. This gives GTreasury practitioners real-time insight and access into their global liquidity. GTreasury is the only company that offers both an installed and a SaaS solution using the same version of the system.  Our modular platform and infrastructure allow any size treasury operation the ability to customize a solution that is best suited to their needs. For more information please contact Marketing@GTreasury.com or visit www.GTreasury.com.

 

About Mainsail Partners
Mainsail Partners is a growth equity firm that invests exclusively in bootstrapped software companies. The San Francisco-based firm has a team of experienced operating professionals to help entrepreneurs scale their businesses and accelerate growth. The firm has raised more than $750 million in committed capital. For further information, please visit www.mainsailpartners.com.

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Altor enters partnership with the founders of RevolutionRace

Altor

On October 18th, Altor Fund IV (“Altor”) has signed an agreement to acquire a significant minority ownership in the fast growing Swedish consumer brand, RevolutionRace, from the founders Pernilla and Niclas Nyrensten. The founders will remain as majority owners of the company and continue in their operational roles as CEO and Head of Product.

RevolutionRace sells outdoor apparel products through a direct to consumer model, with an innovative design, high quality & functionality at an affordable price point. The company was founded in 2013 and has grown at an impressive speed to a turnover of approximately SEK 120m for the fiscal year that ended in June 2017.

“When we started searching for a partner, we wanted someone that could complement us and contribute with relevant experience” says Pernilla and Niclas Nyrensten, founders of RevolutionRace. “Altor had two key attributes that appealed to us; they have relevant knowledge of the outdoor industry from Helly Hansen and Rossignol and they have put together a dream team that we believe will support us reaching our goal of making RevolutionRace the leading brand in the outdoor industry. We are super excited to make this journey together with Altor.”

“We are highly impressed with the growth, successful digital strategy and direct-to-consumer business model of the company. The outdoor apparel market is attractive and RevolutionRace is targeting an underserved segment through the affordable high quality product offering”, says Johan Blomquist, partner at Altor. “Furthermore, we actively look for partnerships with outstanding founders, which is something we have found in Pernilla and Niclas.”

The transaction is subject to customary regulatory requirements and approvals.

For more information, please contact:
Niclas Nyrensten, Co-founder of RevolutionRace, Tel: +46 10 155 63 30
Johan Blomquist, Partner at Altor, Tel: +46 8 678 91 00

About Altor
Since inception, the family of Altor funds has raised some EUR 5.8 billion in total commitments. The funds have invested in excess of EUR 3.8 billion in more than 40 companies. The investments have been made in medium sized Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Helly Hansen, Carnegie Investment Bank, Dustin, Rossignol and SATS ELIXIA. For more information visit www.altor.com

 

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AMRA and BioTelemetry Research Raise the Standard for Medical Imaging

IndustrieFonden

AMRA and BioTelemetry Research, a leading global imaging and cardiac core lab, announced today the formation of an exclusive alliance for non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis (NASH) clinical trials. This first-to-market partnership will advance imaging science and benefit clinical trial sponsors in several musculoskeletal and metabolic therapeutic areas.

In clinical studies, muscle and fat fractions have traditionally been measured by scanning individual organs such as the liver, or particular body regions such as the abdomen. Commonly, researchers would prefer to scan the entire body in order to learn exactly where study participants are losing or gaining muscle or fat mass. However, until now they have been constrained by prohibitive costs and insufficiently precise outcomes.

AMRA’s body composition analysis service has introduced a new and better paradigm where rapid, six-minute whole body MRI scans are transformed into precise, three dimensional-volumetric fat and muscle measurements. This standardized, automated method eliminates reader variability and reduces processing costs. With those advancements, BioTelemetry Research is able to provide clinical trial sponsors with new, high-value information to about their drug compounds’ efficacy and mechanisms of action, including the identification of previously undetectable changes within and beyond the liver.

Tommy Johansson, Chief Executive Officer of AMRA, commented, “BioTelemetry Research is the ideal core lab to help us deliver this enhanced value to clinical trial sponsors. They bring unique expertise managing the protocol complexity, site training intensity and equipment variability that are common to non-standard-of-care MRI trials.” He continued, “BioTelemetry was a leading pioneer in proton density fat fraction (PDFF) analysis, and have analysed more liver fat cases, from more sites, in more regions than any other group in industry. I am excited to see where our partnership will take us.”

BioTelemetry Research President and General Manager, Scott Satin, added, “By employing AMRA’s automated analysis, we are now able to efficiently provide more actionable data to our pharmaceutical partners. Ordinarily, a whole body MRI scan takes 10 to 15 minutes and produces hundreds of images. Prior to AMRA, such analyses were infeasible in clinical trials largely because of the time needed to label fat and muscle tissues within every image. With those challenges eliminated, we can now help sponsors assess the effects of their treatments more quickly and completely.”

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CapMan establishes new pan-Nordic open-ended real estate fund

Capman

CapMan establishes a new pan-Nordic real estate fund, CapMan Nordic Property Income Fund (“CMNPI”), which is CapMan’s first open-ended real estate fund with a non-UCITS structure.

CapMan Real Estate widens its product offering by establishing the CMNPI fund, which focuses on stable income generating properties in the largest and most liquid Nordic cities with solid long-term growth fundamentals. In line with the recently announced second pan-Nordic value-add fund, CapMan Nordic Real Estate II, the CMNPI fund targets mainly offices and necessity-driven retail assets, but it also will invest in other real estate sectors providing stable and predictable income, such as logistics properties.

By launching the CMNPI fund CapMan aims to offer its real estate expertise to an increasing number of investors. In addition to CapMan’s typical large institutional clients, the open-ended structure of the fund makes it suitable for smaller investors. The fund accepts new investments each quarter, while the investors may redeem their investments on a semi-annual basis. The fund has a strong pipeline of investment opportunities, and expects to make its first acquisitions during 2017. The fund has no pre-set target size, but aims to accumulate over EUR 200 million of equity during the first two years of its operations.

“In the prevailing low interest rate environment there is an immense demand for income-producing real estate instruments that also provide liquidity. During the pre-marketing the fund has received strong interest from prospective investors. CapMan Nordic Property Income Fund targets stable returns by diversifying its portfolio across the Nordic growth cities. We typically target properties with long leases with strong anchor tenants or expect the properties to have a well-diversified tenant base,” says Mika Matikainen, Managing Partner of CapMan Real Estate.

“CapMan Nordic Property Income  Fund is CapMan’s first open-ended fund. Our target is to offer more flexible investment products to our clients, and to be able to serve an ever-wider group of investors. CapMan’s new open-ended real estate fund is an example of a product that is well-suited for many different investor groups. CapMan Real Estate has a unique platform with a strong experience and track record in the Nordics, which will be instrumental for the success of the new fund,” says Joakim Frimodig, CEO of CapMan Plc.

CapMan Real Estate has a team consisting of over 30 real estate professionals in Helsinki, Stockholm and Copenhagen. CapMan Real Estate was established in 2005 and it currently has over EUR 1.7 billion of assets under management.

For further information, please contact:
Mika Matikainen, Managing Partner, CapMan Real Estate, tel. +358 40 519 0707
Joakim Frimodig, CEO, CapMan Plc., tel. +358 50 529 0665

CapMan  
www.capman.com
twitter.com/CapManPE

CapMan is a leading Nordic investment and specialised asset management company. As one of the Nordic private equity pioneers we have actively developed hundreds of companies and real estate and thereby created substantial value in these businesses and assets over the last 28 years. CapMan has today 110 private equity professionals and manages €2.7 billion in assets. We mainly manage the assets of our customers, the investors, but also make direct investments from our own balance sheet in areas without an active fund. Our objective is to provide attractive returns and innovative solutions to investors and value adding services to professional investment partnerships, growth-oriented companies and tenants. Our current investment strategies cover Buyout, Growth Equity, Real Estate, Russia, Credit, Infrastructure and Tactical Opportunities. We also have a growing service business that currently includes fundraising advisory, procurement activities and fund management.

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EQT Acquires Clinical Innovations, LLC

eqt

  • EQT acquires Clinical Innovations, the leading global, pure-play provider of single-use clinician-preferred medical devices for Labor & Delivery departments within hospitals
  • EQT to continue accelerating Clinical Innovations’ growth by leveraging EQT’s experience in scaling medical device businesses, through further investment in bringing the leading products to international markets, and by continuing to add new clinician-preferred products to the portfolio

The EQT Mid Market US fund (“EQT Mid Market US”) today announced that it has acquired a majority stake in Clinical Innovations (the “Company”). Clinical Innovations is the leading global, pure-play provider of single-use clinician-preferred medical devices for Labor & Delivery (“L&D”) departments within hospitals. The Company has recently expanded its product portfolio to also serve the Neonatal Intensive Care Unit (“NICU”).

Clinical Innovations, founded in 1993 and headquartered in Salt Lake City, Utah, is the largest medical device company exclusively focused on L&D. Already a market leader in several categories with products such as the Kiwi® Vacuum-Assisted Delivery System and Koala® Intrauterine Pressure Catheter, Clinical Innovations is developing state-of-the-art technologies and innovative medical devices that fulfill its mission of improving the lives of mothers and babies. The Company’s manufacturing facility in Utah is ISO 13485 certified. Clinical Innovations has built the industry’s largest specialized L&D-focused sales force and has developed strong relationships with specialty medical device distributors. The Company has approximately 165 full time employees and serves more than 80 countries globally.

Brendan Scollans, Partner at EQT Partners Inc. and Investment Advisor to EQT Mid Market US, said: “We look forward to supporting Clinical Innovations’ CEO Ken Reali and his team through their next phase of growth. The Company’s portfolio of innovative and high-growth new products, combined with an impressive global sales organization, has enabled it to become a market leader within L&D. EQT’s healthcare expertise and global presence will help the Company continue accelerating its international expansion and the broadening of its of best-in-class L&D and NICU product set through acquisitions.”

Jerry He, Partner at EQT Partners Asia Limited stated: “We are impressed by Clinical Innovations’ success in the fields of L&D and Neonatal care. Its product portfolio offers unique value to doctors, mothers and babies around the world. We are committed to supporting the Company’s international growth strategy, especially as it looks to bring the strong product lineup to China and other Asian markets.”

“We are eager to partner with EQT as we continue to develop our L&D and NICU strategy that we have executed over the past several years” said Ken Reali, President and CEO of Clinical Innovations. “EQT is an ideal fit for Clinical Innovations and our continuing growth. EQT’s relationships, global presence and philosophy fit well with the Company culture and our strong commitment to delivering excellent products to clinicians to care for mothers and their babies”, Reali added.

Simpson Thacher & Bartlett LLP is serving as legal advisor to EQT Mid Market US. Moelis & Company and Cain Brothers served as financial advisors to Clinical Innovations.

Contacts:
Brendan Scollans, Partner at EQT Partners, Investment Advisor to EQT Mid Market US, +1 (917) 281 0849
KEKST: + 1 (212) 521 4800 (US media) Daniel Yunger, daniel.yunger@kekst.com
EQT Press Office, +46 8 506 55 334

About EQT
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. EQT is an active investor and owner in the healthcare sector, including recent investments in Certara, Press Ganey, Ottobock, Sivantos, and Lima Corporate.

More info: www.eqtpartners.com

About Clinical Innovations
Clinical Innovations is one of the largest medical device companies exclusively focused on labor and delivery and the neonatal intensive care unit. The company is already a market leader in several categories with products such as the Koala® Intrauterine Pressure Catheter; Kiwi® Vacuum-Assisted Delivery System; ROM Plus® Rupture of Membranes Test; traxi® Panniculus Retractor; ClearView Uterine Manipulator; babyLance Safety Heelstick; and the recently added ebb Complete Tamponade System. Clinical Innovations is expanding its global presence while developing state-of-the-art technologies and innovative medical devices that fulfill its mission of improving the lives of mothers and their babies throughout the world.

More info: www.clinicalinnovations.com

 

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Bridgepoint sells Leeds Bradford Airport

Bridgepoint

AMP Capital, on behalf of investors in its global infrastructure equity platform, has agreed to acquire 100 per cent of Leeds Bradford Airport from Bridgepoint Advisers Limited. Leeds Bradford Airport is an international airport serving the cities of Leeds, Bradford and the broader Yorkshire area, with four million annual passengers.

Leeds Bradford Airport is a compelling investment for AMP Capital due to its excellent location and strong growth prospects as well as AMP Capital’s expertise and successful track-record of investing in airports globally within its infrastructure portfolio for more than 20 years.

A mix of low-cost, charter and major international airlines operate at the airport, which benefits from a catchment area containing 5.3 million people, 2.9 million of whom live less than one hour from the airport.   Leeds and Bradford are the third and seventh largest cities in the UK, respectively, and the Leeds City Region is home to the UK’s largest financial and business services centre outside London.  The airport primarily offers international short-haul flights to customers as well as an established network of domestic destinations.

Simon Ellis, Head of Origination, Europe at AMP Capital, said: “With its strong underlying fundamentals including freehold ownership with well-invested infrastructure, a diversified airline mix and its catchment area in an economic hub of the North of England, Leeds Bradford Airport is a highly attractive investment and a great fit for AMP Capital’s global infrastructure platform, which includes the Global Infrastructure Fund.

“We believe there is a clear opportunity for performance enhancement through tailoring and improving the customer experience and working collaboratively with our key partners including airlines, government and local businesses.  In addition, the airport serves the Yorkshire and the Humber region, one of the fastest-growing regions in the UK with a population growth of 6 per cent since 2001 and there is also potential for further route development.

“AMP Capital’s heritage in transportation infrastructure investment and our experience of owning airports means we are well placed to develop the exciting opportunities presented by this investment.”

Michael Davy, Partner at Bridgepoint, said: “Over the past five years of Bridgepoint ownership, passenger numbers have grown by almost 40 per cent to over four million, c. £30 million has been invested in capex projects including a terminal upgrade, employee numbers have grown from 200 to around 460, and EBITDA has grown by over 25 per cent per annum.”

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Verdane IX invests in Safira to boost international expansion

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Verdane

Fashionable Development Europe AB, online retailer of jewellery and accessories under the brand name Safira, today announced Nordic private equity fund Verdane Capital IX as a new investor. Together, they will build a fast fashion jewellery brand with international ambitions.

The Swedish online retailer of jewellery and accessories, Safira offers a variety of fashion and traditional jewellery products, including gold and silver rings, necklaces, bracelets and watches. The company has received a lot of attention for its partnership with Swedish fashionista Molly Rustas, and their joint collection Safira by Molly Rustas.

“People live much of their life online. Couples meet online, and then of course, the wedding ring is bought online. Safira and the products become part of people’s special occasions and everyday life as the online home of fashion accessories,” says Jeff Petterson, CEO in Safira.

So far, Safira has primarily focused on the Swedish consumer market, through Safira.se and its newly opened flagship store in Gothenburg. Following the investment by Verdane Capital IX, the company now targets expansion across the Nordics and beyond.

“Verdane has extensive experience building e-commerce successes in a broad range of industries, leveraging its leading online expertise and know-how. We look forward to working together with Verdane on taking Safira to the next level internationally, and offer fashion accessories online to many more markets,” says Pettersson.

In contrast to the fashion apparel industry, which has seen an influx of major e-commerce platforms in recent years, the movement towards bringing the jewellery industry online has been lagging. According to Staffan Mörndal in Verdane, this is about to change.

“Clearly, the jewellery market is a highly attractive space, and we expect strong growth in online penetration. We believe Safira is well positioned to take part in the offline to online transformation of the industry, and become a market leader within fashion accessories and gold and silver jewellery online,” he says.

For further information, please contact:

Staffan Mörndal, staffan.morndal@verdanecapital.com or +46 70 93 15 235

Jeff Pettersson, jeff@safira.se or +46 73 39 81 105

About Safira

Founded in 2012, Safira is a Swedish-based online retailer and maker of jewellery and accessories, offering a mix of its own and external brands of a variety of products, including gold and silver rings, necklaces, bracelets and watches.

About Verdane

Verdane funds provide flexible growth capital to fast growing software, consumer internet, energy or high-technology industry businesses. The funds are distinctive in that they can invest either in a single company, or in portfolios of companies. Verdane funds have €900m under management and have invested in over 300 holdings over the past 14 years. Verdane Capital Advisors has 25 employees working out of offices in Oslo, Stockholm, and Helsinki. More information can be found at: www.verdanecapital.com

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Fresks acquires XL-BYGG Edvardssons

Litorina

Fresks continues to expand through the acquisition of Edvardsson Bygg & Material i Skärstad AB (XL-BYGG Edvardssons) who operates in Skärstad north of Huskvarna. Previous owner Mikael Edvardsson will reinvest a significant share of the proceeds from the transaction in Fresks Group.

Rolf Edvardsson founded today’s XL-BYGG Edvardssons in 1966 and has focused on serving the market north of Jönköping with quality building material and associated services ever since. Today, XL-BYGG Edvardssons has a turnover of c. SEK 90 million and employs 20 people.

After the acquisition Fresks Group will have a total of 25 stores with pro forma revenues of more than SEK 1.5 billion and c. 400 employees.

For further information, please contact:

Leif Lindholm, +46 70 698 27 00, CEO Fresks Group

Fresks, founded in 1862 is a leading Swedish building material retail chain in Northern Sweden focused on the professional segment. The company has 25 stores under the brands XL-BYGG Fresks, XL-BYGG Östergyllen and Gärdin & Pärsson. Fresks sells high quality building material with high degree of service primarily to small and mid-sized professional customers. For more information, please visit www.fresks.se and www.gardinpersson.se

 

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