Category Archives: News

Cinven agrees to make significant strategic investment in Alter Domus

Cinven

International private equity firm Cinven today announces that it has reached an agreement to make a majority investment in Alter Domus, a leading global provider of end-to-end tech-enabled fund administration and corporate services across three sectors: private equity, real assets and private debt. All existing shareholders, including the Company’s Founders and the Permira Funds, will sell approximately half of their shares to Cinven, and retain a significant investment in Alter Domus going forward. 

Established in 2003 and headquartered in Luxembourg, Alter Domus is one of the largest fund administrators globally, with over $2.5tn assets under administration (AuA). The firm has grown rapidly to meet the evolving needs of its client base, building a global network that now spans 23 jurisdictions, servicing 90% of the top 30 asset managers globally. Since 2021, Alter Domus has increased revenue by 54% and grown AuA by 69%.  

Cinven has spent significant time targeting investment opportunities in the fund services subsector, given its attractive and resilient characteristics, underpinned by structural growth in the alternative assets space. Cinven’s Business Services and Financial Services sector teams worked together in close partnership to acquire Alter Domus, identifying the following key investment attractions:

  • Its impressive financial track record, with Alter Domus having consistently outperformed the market, delivering double-digit organic growth and attractive margin performance;
  • Alter Domus represents a scarce, market-leading global fund services platform that delivers market-leading service levels to a blue-chip customer base including 90% of top-30 asset managers served;
  • It is a proven M&A platform in the fragmented fund services market that has a successful track record of acquisitions, and a strong further pipeline of potential buy and build opportunities across a range of markets and geographies; 
  • The company operates in attractive markets, with the fund services subsector benefitting from the structural growth of private capital markets, increasing regulation and a continued trend towards outsourcing of fund services, together with downside-protection through strong revenue visibility and cashflow generation; 
  • Alter Domus has received significant investment in the tech-enablement of the Company – resulting in best-of-breed third-party platforms, workflow automation and a leading data and analytics product capability to better serve the increasingly complex needs of its global client base; and
  • It has an experienced and highly respected management team that has led the strong performance to date.

Through this transaction, Cinven will support the long-term strategic growth of Alter Domus, working in close partnership with Alter Domus’ founders and Permira. 

Drawing on its global platform and leveraging the expertise of both its Business Services and Financial Services sector teams, and its Digital Hub team, Cinven will support management to accelerate growth across key regions and customer verticals and invest further in developing Alter Domus’s leading tech-enabled and digital offerings to its clients.

Rory Neeson, Partner and Head of Cinven’s Business Services sector team, said: 

“Cinven is delighted to make this investment in Alter Domus. Fund services has been a priority subsector for Cinven’s Business Services team for some time due to the attractive business model characteristics and strong growth drivers. We have followed Alter Domus closely over many years and admired it as a global leader with blue-chip clients and leading service levels. Looking forward, we see significant potential for further growth and look forward to working with the management team and shareholders in the next phase of its journey.”

Maxim Crewe, Partner and Head of Cinven’s Financial Services sector team, added:

“Alter Domus is well positioned to benefit from the strong growth in the fund services market, underpinned by the structural expansion in private capital markets, greater regulation and further outsourcing. The Company is a leading player in the industry with a differentiated service proposition, and we see a compelling opportunity to leverage Cinven’s Financial Services sector knowledge and global footprint to help the business continue this trajectory.”

Doug Hart, Chief Executive Officer of Alter Domus, commented:

“With an enviable track record of investing in fast-growing, world-class businesses, we are thrilled to welcome Cinven as an investor in Alter Domus. Cinven shares our strategic vision and commitment to developing long-term technology-enabled partnerships with the leading alternatives firms globally through the delivery of operational and client service excellence. Together we look forward to further accelerating our international growth and delivering innovative new services to our clients.”

The transaction is subject to regulatory approvals and other customary closing conditions. 

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Quilvest Capital Partners invests in Acuiti Labs to drive further expansion

Quilvest Capital logo

06 March 2024 – Quilvest Capital Partners (“Quilvest”), a dedicated global mid and lower midmarket alternatives investment manager with over $7 billion in AUM, today announces its
investment in Acuiti Labs, a leading SAP consultancy specializing in optimizing the quote-to-cash
process.

Founded in 2014 by CEO Manoj Harbhajanka and headquartered in London, Acuiti Labs has
established itself as one of the largest consultancies dedicated to the quote-to-cash process, with
over 200 employees and global operations spanning North America, Europe and Asia. The
company advises large, blue-chip businesses seeking to optimize their revenue management and
billing processes through SAP Billing and Revenue Innovation Management (BRIM) solutions.
Quilvest’s investment will support Acuiti Labs’s continued global expansion strategy, including
further headcount growth and investment in technology, with a relentless focus on delivering bestin-class service, support and technology to its clients and partners.

With a global and diverse client base, Acuiti Labs delivers solutions aimed at making their
customers successful by monetizing services, minimizing revenue leakage and enhancing
financial reporting functionalities. The company derives 40% of its revenue from the U.S. market
and 55% from Europe, alongside other international regions.

Manoj Harbhajanka, CEO of Acuiti Labs, said, “We are thrilled to welcome Quilvest as our
strategic partner, poised to support our company in its next phase of growth. Leveraging their
professional expertise and extensive network, coupled with Acuiti Labs’s strong positioning and
talented management team, we are looking forward to further success.”
Benjamin Sass, Partner at Quilvest Capital Partners, said: “Acuiti Labs is at the forefront of an
enduring technology shift as companies across various industries seek to transform and optimize
their revenue models. We are honored that Quilvest Capital Partners has been selected as the
partner for Acuiti Labs’s next growth chapter, and we look forward to combining our international
reach and partnership approach with Acuiti Labs’s unique expertise and proven success in the
SAP BRIM space.”
-ENDS

About Quilvest Capital Partners
Quilvest Capital Partners is a leading global investment manager focused exclusively on the midmarket. It operates four investment strategies: Buyout; Primaries, Co-Investments and
Secondaries; Private Credit and Real Estate.
As one of the earliest pioneers in the alternative investment industry, we pride ourselves on our
rich and extensive history, with decades of experience deploying capital across multiple business
cycles and environments. We are trusted to manage over $7bn AUM for a prestigious base of
global investors, including leading pension plans, sovereign wealth funds, insurance companies, and family offices.

Our heritage dates back more than a century to 1917, managing the wealth of
our founding shareholder, the Bemberg family, which we continue to do today.
With six offices worldwide, our team is focused on identifying the global trends and themes
underpinning each investment strategy. We overlay this thematic approach with an extensive
global network of highly valued relationships, enabling us to identify and invest in the best
opportunities for our investors and partners.

Quilvest Capital Partners is committed to the highest standards of excellence. We offer best-inclass infrastructure and the professionalism of a leading global investment firm while retaining the
deeply personal, entrepreneurial, nimble approach routed in our origins.
For more information, visit www.quilvestcapitalpartners.com

About Acuiti Labs
Acuiti Labs, headquartered in London, is a global SAP consulting firm specializing in “Quote to
Cash” process transformation and optimization. As a SAP Silver Partner, we excel in delivering
business technology solutions and digital transformation by deploying SAP BRIM on S/4HANA
and cloud-based applications like Subscription Billing, CPQ and Entitlement Management.
With exceptional experience across various industries, Acuiti supports subscription and
consumption-based Target Operating Models, which is ‘Anything as a Service’ covering industries
like Public Transport, Automotive, Travel and Tourism, Ports (Airports & Seaports), Postal, Telco,
Media and Hi-Tech. Acuiti Labs prioritizes value realization and the monetization of digital assets, services and
strategies, offering end-to-end services covering Business & IT consulting, implementation,
training and managed support to our clients while keeping customer benefits at the forefront of
our efforts.

For more information, visit www.acuitilabs.com
Media contacts
Greenbrook
Tashi Lassalle / Demi Kurban / Sofia Newitt
+44 (0) 20 7952 2000
Quilvestcapital@greenbrookadvisory.com

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Affidea enters into an agreement to acquire MedEuropa Romania

Telemos Capital

Bucharest, Romania, 4 March, 2024: Affidea Group, Europe’s largest provider of advanced
diagnostics, multi-speciality polyclinics and Centres of Excellence, announced today that it has
entered into a binding agreement to acquire MedEuropa Romania, a renowned cancer care
provider.

MedEuropa Romania operates four medical centres in Romania, spanning Constanta, Bucharest,
Brasov, and Oradea, with two further centres set to open in Iasi and Bacau during 2024. The company
is renowned for its expertise in advanced cancer care, including Radiotherapy, Chemotherapy and
broader oncology services, all of which integrate into Affidea’s primary diagnostic and polyclinic
portfolio in Romania. The acquisition adds radiotherapy services to Affidea’s capability in Romania,
complementing existing radiotherapy services that Affidea provides across its European footprint.
Philippe Jacobs, Chairman and Silviu Savin, CEO of MedEuropa commented: “We are proud to have
built a greenfield network of clinics providing high quality patient care and treatments across Romania.
We would like to thank our doctors and staff for their contributions over the past years. We believe
that an integrated care solution is optimal for oncology patients and therefore see the integration of
MedEuropa in the larger Affidea family as an ideal avenue for delivering the best care and results for
cancer patients in Romania.”

Razvan Predica, Country CEO for Affidea Romania and Hungary, stated: “Cancer is claiming far too
many lives in our communities, with approximately 100,000 people being diagnosed with an
oncological disease in Romania every year. This acquisition isn’t just about growth; it’s about standing
shoulder-to-shoulder with the National Health System and those affected by this relentless disease.
We look forward to working with the great team of MedEuropa following the closing and continue
delivering value for every individual impacted by cancer by increasing access to more comprehensive
cancer care pathway from diagnosis to treatment and follow-up.

Guy Blomfield, CEO and Chairman of the Management Board for Affidea Group, added: “At Affidea,
we have a provenance in the provision of comprehensive cancer care pathways across several
European countries, with a network of Community Clinics and Centres of Excellence which are
dedicated to providing access and high-quality care to the patient communities we serve. Romania’s
healthcare market is embracing the challenge of improving cancer survivorship outcomes, and
Affidea’s integrated service model will have an important role in helping to improve early detection
and diagnosis, as well as providing more access to radiotherapy services in community settings across
Romania. Affidea and MedEuropa, both have impressive reputations for high quality patient care, and
I am very confident that the integration of services will further enhance outcomes for oncology patients
across Romania.

Completion of the acquisition is subject to the approval of the Romanian Competition Council. Affidea
Group was advised by Rizoiu & Asociatii and Clifford Chance as legal advisors, while Deloitte served as
financial advisor. The sellers were advised by Biris Goran and Linklaters as legal advisors.

About MedEuropa
Telemos Capital in partnership with a local team of entrepreneurs, established MedEuropa to address the undersupplied Romanian radiotherapy market, with a vision of building a greenfield network of clinics across the
country. MedEuropa is committed to providing state of the art cancer treatment, with a strong focus on
radiotherapy. The company operates four clinics across Romania (in Brasov, Bucharest, Constanta and Oradea)
and is constructing additional clinics and treatment centres in Iasi (opening planned in Q1 2024), Bacau, Brasov,
and Bistrita.

About Telemos Capital
Telemos Capital (www.telemoscapital.com) invests in private European businesses, with the aim of building
great companies for the long term. Funded by family capital, it combines the flexibility and nimble decisionmaking of a family office with the active ownership and professionalism of private equity. Telemos seeks to
acquire majority stakes in businesses with the potential for sustainable growth through international
expansion, add-on acquisitions or operational improvements. Other Telemos investments in the Healthcare
Services sector include Stingray and Sanoptis (exited in 2022).

About Affidea Romania
Affidea Romania is one of the leading healthcare providers across the country, offering advanced diagnostics,
laboratory analysis and multi-specialty consultations, with 50 medical centres in 26 cities. The Affidea Romania
team consists of more than 1,500 professionals, out of which over 900 clinicians, annually providing integrated
medical services for more than 2 million patients.

About Affidea Group
Affidea (www.affidea.com) is the largest European provider of advanced diagnostic imaging, out-of-hospital and
cancer care services. Founded in 1991, the company operates 355 centres across 15 countries, providing highquality medical services to nearly 13 million patients every year. Due to its track record for patient safety, the
company has become the most awarded diagnostic imaging provider in Europe by the European Society of
Radiology, as over 80% of the centres recognised on the Eurosafe Wall of Stars belong to Affidea. Affidea is
majority-owned by Groupe Bruxelles Lambert (GBL), a leading investment holding company, focused on longterm value-creation with a stable and supportive family shareholder base.

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CapMan and PwC join forces for the benefit of children and youth

Capman

CapMan and PwC join forces for the benefit of children and youth

CapMan and PwC join forces by launching a charity campaign for the benefit of the Tukikummit foundation in support of children and youth. The goal is to raise more than EUR 100,000 during this spring for the benefit of the Tukikummit foundation, and as the campaign continues, also challenge other companies to join. ”We want to multiply the amount collected annually for the benefit of youth and children over the long term,” states Joakim Frimodig, Chair of the Board of CapMan and the Tukikummit foundation.

The campaign, named #Steps4Tukikummit, combines the desire to do good with supporting a sense of community and the well-being of the personnel: the companies challenge their employees to walk and run together and with clients in order to grow the distance that charitable contributions will be based on. For every kilometre walked or ran, EUR 4 will be put forth towards the Tukikummit foundation by CapMan and PwC. The challenge lasts from March to the beginning of May 2024, culminating at the Helsinki City Running Day running event in May.

CapMan has been involved in fundraising for the Tukikummit foundation since 2014. In 2023, CapMan took an even more active role in the foundation’s operations by providing Tukikummit with resources and expertise and covering its operating expenses, with the goal of revitalising the foundation’s activities and continuing its work for good by significantly growing its brand awareness and fundraising.

“For us as a company it’s important to be able to provide direct help to those in need. The Tukikummit foundation has been a central way for us to provide support, and over the past few years, we have focused nearly all our charity work, towards the foundation, raising hundreds of thousands of euros for its charitable activities. We are thrilled with PwC’s decision to join us in developing this campaign we are now launching, and which we hope will be a significant initial boost for expanding the charitable operations of the Tukikummit foundation,” shares Joakim Frimodig, Chair of the Board of CapMan and the Tukikummit foundation.

“The desire to help children and youth in need has emerged as a top wish when we have asked our personnel about their preferred charitable causes. Through Tukikummit, we can be involved in supporting the goal that all children and young people should have the opportunity to engage in hobbies,” summarizes Kauko Storbacka, CEO of PwC Finland.

“In addition to doing good, we want to create more opportunities for our employees to come together and to exercise. Supporting a sense of community is especially important in the years post pandemic, and physical activity is an essential factor in enhancing well-being. The initial comments from our personnel have been encouraging. I believe and hope that as many as possible will be motivated to move for a good cause,” Storbacka continues.

PwC’s and CapMan’s common goal, is to grow the fundraising for the Tukikummit foundation into a long-term campaign and cooperation.

”The marginalisation of youth is a growing problem. Hobbies are a great way for a young person to experience purpose and connection with others. However, not everyone has equal opportunities to take part in hobbies, and this increases inequality between families. I am proud of this campaign kickstarted by PwC and CapMan, which I believe is a significant first step on our path towards a world where every young person is able to realise themselves and live a full life regardless of their financial situation and social status”, rejoices Maija Ilmoniemi, Managing Director at the Tukikummit foundation.

The Tukikummit foundation was established in 2007 from the common concern of the former President of the Republic of Finland Sauli Niinistö and Finnish business leaders Sari Baldauf, Björn Wahlroos and Hjallis Harkimo for young people at risk of marginalisation. It distributes subsidies for disadvantaged children and youth, especially to cover hobby costs and supporting studies.

For more information, please contact:

Joakim Frimodig, Chair of the Board, CapMan, Chair of the Board, Tukikummit foundation, +358 50 529 0665, joakim.frimodig@capman.com

Kauko Storbacka, CEO, PwC Finland, +358 50 331 2336, kauko.storbacka@pwc.com

Maija Ilmoniemi, Managing Director, Tukikummit foundation, +358 40 5133781, maija.ilmoniemi@tukikummit.fi

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. €5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London, Luxembourg and Jyväskylä. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.  

About PwC

PwC’s purpose is to build trust in society and solve important problems. We help companies to improve their efficiency, promote growth and to report reliably in a constantly changing environment. Our services include consulting, deals, tax, legal, risk assurance, audit and other assurance services. PwC operates in 155 countries and in Finland, we have 1 350 experts working around the country. More information: www.pwc.fi/en.

About Tukikummit foundation

The Tukikummit Foundation was born in 2007 from the common concern of Sauli Niinistö, Sari Baldauf, Björn Wahlroos and Hjallis Harkimo for young people at risk of marginalisation. The foundation donates funds to children and youth in need of support for hobby activities and school attendance. CapMan Plc has focused its charitable donations to Tukikummit for already eight years’ time. In 2023 it took an even stronger role in the foundation by starting to fund its operational activities with the target of significantly growing the amount of donations collected and those receiving support. Learn more at: https://tukikummit.fi/in-english/

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Smile Invest joins as an investor in MedEnvision through a partnership with its management and founders

Smile Invest

MedEnvision (www.medenvision.com), a leader in innovative orthopaedic efficiency solutions, is thrilled to announce a pivotal partnership with Smile Invest, a distinguished European investment firm known for its focus on fostering innovative growth companies. This strategic partnership aims to fuel MedEnvision’s international expansion, drive new product development, and unlock new market opportunities.

Founded on the principles of enhancing efficiency in orthopaedic surgeries, MedEnvision has revolutionized the operating theatre with its patented product range, including the Gripper set, the EsySuit range, and specially designed retractors. These innovations offer dual benefits: they optimize time and resources by freeing up OR staff for more critical tasks while providing surgeons with enhanced control in surgeries involving the hip, knee, and shoulder. Currently, MedEnvision’s solutions have reached 26 countries, with a strong presence in the Benelux and the US.

MedEnvision’s mission lies in further improving the practices of an orthopaedic surgeon for the benefit of the patient, the nursing staff, the surgeon and the healthcare institutions. This mission is fully endorsed by new partner Smile Invest, who will further support this growth story together with MedEnvision’s management team and founders.

Dries Goyens, CEO of MedEnvision: “We are honoured to welcome Smile Invest into our company. Their proven track record in nurturing high-potential healthcare innovations aligns with our vision. This collaboration not only validates the impact of our products but also equips us with the strategic and financial support necessary to broaden our global footprint and continue improving surgical workflows. From the start, we felt the click between our teams and we look forward to a successful partnership.”

Bart Cauberghe, Managing Partner at Smile Invest, highlights: “MedEnvision represents the type of innovation and strategic foresight we value at Smile Invest. Their solutions directly address some of the most pressing challenges in healthcare today, such as improving procedural efficiency and mitigating the impact of nursing staff shortages. We are confident in MedEnvision’s growth trajectory and its role in advancing orthopaedic care for an ageing population aspiring to maintain an active lifestyle.”

 

Smile Invest

Smile Invest (Smart Money for Innovation Leaders) is a European evergreen investment firm with over €500m of assets under management, financed by 40 entrepreneurial families and with a long-term focus on innovative growth companies. Smile Invest focuses on companies active in three investment themes: digitalization, healthcare and sustainability. Since its inception in 2017 Smile Invest has built a portfolio of 15 companies. From its offices in Leuven and The Hague, the team supports ambitious entrepreneurs and management teams in realizing their growth plans.

Contact Smile Invest:

Bart Cauberghe, Managing Partner
bart.cauberghe@smile-invest.com | T. +32 476 33 66 69

Nicolas Costers, Investment Director
nicolas.costers@smile-invest.com | T. +32 476 44 63 23

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The Board of Directors of CapMan has decided on a directed issue to complete the acquisition of Dasos Capital Oy

Capman

he Board of Directors of CapMan has decided on a directed issue to complete the acquisition of Dasos Capital Oy

CapMan Plc (“CapMan”) announced on 21 December 2023 the acquisition of Dasos Capital Oy (“Dasos”), an asset management company focusing on sustainable timberland investment, through a share exchange. CapMan has received all regulatory approvals for the acquisition and all other closing conditions have been fulfilled, and the acquisition has been completed today (the “Closing”).

The Board of Directors of CapMan has today resolved on a directed issue of new CapMan shares for the purposes of the payment of the consideration to the sellers of Dasos (the “Sellers”).

“I’m pleased to welcome Dasos as part of CapMan. The inclusion of sustainable timberland and natural capital investing positions CapMan as a leader in unlisted real asset strategies in the Nordics. Together, we can scale and expand Dasos’ existing offering and pursue growth opportunities in sustainable investment. Dasos will form the core of the new CapMan Natural Capital investment area, led by Dasos’ Senior Partner Olli Haltia, who will join CapMan’s Management Group. As we join forces, we create value for fund investors and shareholders and further CapMan’s vision of becoming the most responsible private assets company in the Nordics,” says Pia Kåll, CapMan’s CEO.

Directed issue of 17,672,761 new CapMan shares as consideration to the Sellers

The equity price for Dasos’ shares is paid in shares of CapMan by a directed share issue and a cash consideration of MEUR 3.2.  The Board of Directors resolved today on a directed issue of 17,672,761 new shares in CapMan for the Sellers (“Share Issue”) based on the authorisation given by the General Meeting on 18 January 2024. The subscription price per share, payable as contribution in kind, is EUR 2,0938 determined in accordance with the terms and conditions of the acquisition by the 30-day volume weighted average share price of CapMan prior to the signing of the acquisition. As the Share Issue is carried out to complete the acquisition, there is a weighty financial reason for directing the Share Issue. In addition, CapMan has committed to paying an additional earn-out consideration of a maximum EUR 5 million based on management fee turnover incurred in 2025 and 2026, payable when the management fees of the funds managed by Dasos exceed certain limits. The additional consideration will be paid later in 2026 and 2027 in CapMan’s shares.

The shares issued and subscribed for in the Share Issue represent in aggregate approximately a 10.0% ownership in CapMan after the registration the new shares. Following the Share Issue, the number of CapMan shares totals 176,522,148.  The share capital of CapMan is increased by EUR 37,003,226.98 in connection with the registration of the Share Issue.

The sellers that are actively participating in Dasos’ investment activities have committed to a 36-month transfer restriction starting from the Closing of the shares received from CapMan as consideration in connection with the Closing. The transfer restriction will be gradually lifted so that 90 per cent of these sellers’ shares will be subject to the transfer restriction at the time of the Closing and the amount will reduce annually so that the remaining 70% will be released after the third year. Shares used for paying the additional earn-out consideration are subject to a transfer restriction for a period of 12 months from their issuance. The sellers committed to the transfer restriction account for approximately 69.65% of the total purchase price.

Following the Closing, CapMan will hold 100% of the votes in Dasos. Sellers retain rights to the carried interest income of existing funds under Dasos by retaining certain non-voting shares in Dasos.

The new shares are intended to be registered at the Finnish Trade Register on or about 1 March 2024. Trading in the new shares on the official list of Nasdaq Helsinki Ltd is expected to commence on or about 4 March 2024.

CAPMAN PLC
Board of Directors

DISTRIBUTION
Nasdaq Helsinki
Principal media
www.capman.com

Contact details:
Pia Kåll, CEO, CapMan Plc, tel: +358 40 766 4446
Linda Tierala, Director, IR & Sustainability, CapMan Plc, tel: +358 40 571 7895, email: linda.tierala@capman.com

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics, it has built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. EUR 5 billion in assets under its management, its objective is to provide attractive returns and innovative solutions to investors. An example of this are the greenhouse gas reduction targets that it has set under the Science Based Targets initiative in line with the 1.5°C scenario as well as a commitment to net zero GHG emissions by 2040. It has a broad presence in the unlisted market through its local and specialised teams. Its investment strategies cover minority and majority investments in portfolio companies and real estate, as well as infrastructure assets. It also provides wealth management solutions. Its service business includes procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London, Luxembourg and Jyväskylä. It has been listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com. 

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Ratos AB – change in number of shares and votes

Ratos

The fifth opportunity to exercise warrants according to the incentive program for the CEO and other key personnel in Ratos decided on by the 2019 Annual General Meeting was completed in February 2024. Through the exercise of 329,200 warrants, the number of Class B shares increased by 329,200 and the number of votes by 32,920. After the increase, the share capital amounts to SEK 1,029,563,917.20.

Before exercise of warrants and conversion, no.   After exercise of warrants and conversion, no.
Class A shares: 84,637,060   Class A shares: 84,637,060
Class B shares: 241,879,428   Class B shares: 242,208,628
Total number of shares: 326,516,488   Total number of shares: 326,845,688
Total number of votes: 108,825,002.80   Total number of votes: 108,857,922.80

For further information, please contact:
Magnus Stephensen, General Counsel
+46 72 517 52 00

This is information that Ratos AB is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication at 08:00 CET on 29 February 2024.

About Ratos
Ratos is a Swedish business group focusing on technology and infrastructure solutions, consisting of 17 companies divided into three business areas: Construction & Services, Industry and consumer. The companies have approximately SEK 34 billion in net sales (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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Qovetia implements a financing of €130 million from Five Arrows Debt Partners to support its growth and carry out its development plan

Careventures

By bringing together more than 70 veterinary clinics in just 4 years, the Qovetia network has quickly distinguished itself by advocating for a unique model that integrates all specialties of the sector (companion animals, equine medicine, and rural medicine) and involves veterinarians in its governance.

Founded in 2020 by the grouping of around ten sites in Normandy, Burgandy Franche-Comté, and Occitanie, with the financial support of Careventures and Unexo, Qovetia has since been joined by around sixty sites covering the majority of French territory and become one of the main players in the veterinary clinics sector.

Qovetia stands out with a unique and “veterinarian-centric” value proposition, which promotes the quality of care and the performance of clinics. This unique model in the animal health sector allows for alignment of interests and a lasting alliance with veterinarians. Qovetia involves associate veterinarians in the group’s decision-making process and guarantees true medical autonomy to provide individualized care services at each clinic, closest to the patients.

Qovetia and its management were advised, in the context of their negotiations with lenders as well as in the development of a financial structure adapted to the Group’s ambitious external growth policy, by Degroof Petercam Investment Banking.

With a new financing of €130 million in the form of senior and junior bonds allows the Group to (i) improve its financial structure by refinancing a portion of its bank debts, (ii) finance an ambitious plan of around sixty acquisitions over the next 2 years, and (iii) finance development projects.

 

Jean-Matthieu Cottin, CEO of Qovetia: “I thank Five Arrows Debt Partners for their trust, as well as all the teams who made this operation possible. I am very happy about this important milestone for Qovetia. In a competitive and complex environment, in a sector undergoing profound evolution and facing major societal challenges, this new partnership will allow us to continue our development with the associated veterinarians in service of caregivers, their patients, and their owners.”

Eric Souêtre, Partner at Careventures: “As Co-founder and principal investor, Careventures is delighted to partner with Five Arrows to develop the Qovetia model both in France and Europe. Their support represents a validation of our commitment to the company, its management team, and its positioning.”

Raoul Mahler, Managing Director of Five Arrows Debt Partners: “We were very impressed by Qovetia’s business project, focused on supporting and empowering veterinarians, as well as by the quality of its management team. Qovetia is pursuing an ambitious yet controlled external growth strategy, which has strengthened our investment decision.”

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IK Partners to invest in Schwingshandl

IK Partners

IK Partners (“IK”) is pleased to announce that the IK Small Cap III (“IK SC III”) Fund has signed an agreement to invest in Schwingshandl automation technology GmbH (“Schwingshandl” or “the Company”), a leading provider of smart intralogistics automation solutions based in Austria. IK is partnering with the founders, Thomas Schwingshandl and Enrico Larcher, who will both retain a significant minority share in the Company. Financial terms of the transaction are not disclosed.

Founded in 2003 and headquartered near Linz, Austria, Schwingshandl provides innovative, made-to-measure automation solutions for a broad range of end-market applications. The Company specialises in designing, engineering and assembling customised modules and sub-systems such as storage and distribution technology, lifts, conveyor systems, (de-) palletisers, (de-) stackers and (un-) loading stations. Schwingshandl is a long-term partner to blue-chip customers globally, focusing on the development of high quality, complex intralogistics solutions, leveraging its successful automation track record of over 20 years.

Since inception, Schwingshandl has demonstrated impressive growth, in a large part due to the entrepreneurial spirit of the founders as well as the dedication of its 90 employees. The Company recently finalised the expansion of its production facility and has firmly established itself as a leading provider of customised warehouse automation solutions. In partnership with IK, Schwingshandl will look to: continue investing in its people and organisation; selectively broaden its service offering; and pursue international expansion. Both founders will retain their respective leadership positions on Schwingshandl’s management board and will remain significantly invested in the Company.

Thomas Schwingshandl, Founder and CEO of Schwingshandl, said: “The rise of warehouse automation is a key trend we are seeing across various end-industries, presenting attractive growth opportunities for a Company like ours. We are excited to welcome an experienced partner like IK on board. The team at IK has already recognised Schwingshandl’s potential for development and possesses both the experience and expertise to support our ongoing expansion strategy.”

Nils Pohlmann, Partner at IK and Advisor to the IK SC III Fund, said: “Under the stewardship of Thomas, Enrico and their team, Schwingshandl has established itself as a leading provider of customised intralogistics automation solutions in Europe. We have been extremely impressed with the Company’s journey to date and look forward to utilising our significant experience in the automation technology sector to unlock further value.”

For further questions, please contact:

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

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 180 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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About Schwingshandl

Founded in 2003, Schwingshandl is a leading provider of smart intralogistics automation solutions and focuses on innovative, made-to-measure modules and sub-systems for warehouse automation. Based in Holzhausen, Austria, Schwingshandl serves a global and trusted customer base across multiple end-markets as solution partner. schwingshandl.com

Categories: News

Thompson Street Capital Partners Portfolio Company PestCo Holdings Acquires PestShield

Thompson Street Capital

Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, today announced the acquisition of the assets of PestShield, LLC (PestShield) by PestCo Holdings, LLC (PestCo), a TSCP portfolio company. Located in St. Louis, Missouri, PestShield is a leading provider of residential pest control services that partners with local home builders to pre-install preventive pest control equipment in homes during the construction phase. With the backing of PestCo’s team and resources, PestShield is positioned for future growth, while continuing to provide high-quality service to customers. Terms of the transaction were not disclosed.

This is the fourteenth investment for PestCo, a growth-oriented, national provider of pest control services to residential and commercial customers.

“PestShield is an excellent addition to our growing presence in the greater St. Louis area,” said Jay Keating, CEO of PestCo. “We look forward to working together with PestShield to enhance growth opportunities for the business and create opportunities for the team.”

Patrick Hoene, owner of PestShield, added, “PestCo impressed me throughout the acquisition process. Efficient due diligence, consistent attention to detail, collaborative engagement, thoughtful guidance, and fairness in all negotiations from beginning to end. I highly recommend this experienced and honest pest control buyer for any small to large company or owner considering a transition but uncertain of the process and the complexities of selling their business.”

“Thompson Street is excited to add a quality business in PestShield to PestCo’s growing presence in St. Louis, alongside our previous acquisitions of Bel-O and Mick’s,” said Dan Cooper, Director, TSCP.

PCO M&A Specialists, a division of PCO Bookkeepers, acted as the exclusive financial advisor to PestShield on the transaction.

Categories: News

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