Category Archives: News

Docupace Announces Strategic Majority Investment from Genstar Capital

Investment Empowers Next Stage of Growth and Innovation for Leading Software Platform Focused on Digitizing Wealth Management Operations

Holmdel, NEW JERSEY – Docupace, a leading provider of software to streamline back-office operations of wealth management enterprises and financial advisors, today announced a strategic majority investment from Genstar Capital (“Genstar”), a leading private equity firm focused on investments in targeted segments of the financial services, software, industrials and healthcare industries.

“Genstar’s investment is a testament to our belief that Docupace is transforming how critical work – new account opening, client onboarding, workflow, compliance, compensation, advisor transitions, data gathering and client engagement – gets done in wealth management enterprises,” said Docupace Chief Executive Officer David Knoch. “We are excited to welcome Genstar as a strategic investor as we further improve the operational experience for clients, financial advisors, their staff, and home office team members. This recapitalization positions Docupace to continue leading the back-office revolution and to seize the substantial growth potential that lies ahead.”

This significant investment makes Genstar the majority investor of the fast-growing technology innovator. FTV Capital (“FTV”), which made a growth investment in the company in 2020, will remain a minority investor in Docupace.

“We’ve been following Docupace’s transformation for several years, and we are proud to partner with Docupace and its management team on the next chapter of growth,” said Sid Ramakrishnan, Director at Genstar Capital. “The wealth management ecosystem is highly and ever-increasingly complex, and firms need scalable operations that serve financial advisors and their clients. Docupace has a proven track record of delivering purpose-built software solutions that transform the operations of the back-office. We look forward to partnering with David and his team to advance Docupace’s platform and accelerate growth, both organically and inorganically, and to continue delivering value to clients.”

Under FTV’s ownership, Docupace has grown into the leading platform for wealth management operations. Each workday, more than 130,000 electronic documents are processed and delivered, more than 62,000 work items are completed and nearly 10,000 new client accounts are opened using Docupace products and solutions. With the acquisitions of jaccomo and PreciseFP in 2021, the company expanded its platform solutions into compensation, compliance, and digital client data gathering, respectively.

This transformation has generated significant accolades and attention. In the first half of 2024, Docupace was named Best Onboarding Product by WealthTech Americas; won gold, silver and bronze at the 2024 Stevie Awards, and was named finalist twice – Best-as-a-Service Solution at the Banking Tech USA Awards and WealthTech of the Year at the 2024 InvestmentNews Awards.

“It has been incredible to partner with David, Michael (founder) and the team on Docupace’s momentous journey of growth and transformation,” said Robert Anderson, partner at FTV Capital. “Over the last four years, we’ve built a world-class organization that has driven consistent growth and meaningfully enhanced the Docupace platform to serve an expanding client base. Docupace has become synonymous with the ‘digital back-office’ across the wealth management landscape, and we can’t wait to celebrate many more exciting milestones in the years ahead.”

Financial Technology Partners (FT Partners) served as exclusive financial advisor and Gibson Dunn served as legal counsel to Docupace. RBC Capital Markets served as financial advisor and Ropes and Gray served as legal counsel to Genstar. The transaction is expected to close in the third quarter of 2024, subject to the receipt of regulatory approvals and the satisfaction of other closing conditions. The terms of the transaction were not disclosed.

About Docupace

Docupace is a solutions provider focused on digitizing and automating operations in the financial advice and investment industry. Financial services firms use the Docupace Platform (a cloud-based, integrated software suite) to reduce back-office expenses, improve efficiency, strengthen recruiting, and enhance the experience of advisors and investors. With headquarters in Holmdel, New Jersey, Docupace is proud to serve some of the largest independent broker-dealers and registered investment advisers (RIAs) in the financial services industry.

For more information, please visit www.docupace.com.

About Genstar Capital

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high-quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $49 billion of assets under management and targets investments focused on targeted segments of the financial services, industrials, software, and healthcare industries.

About FTV Capital

FTV Capital is a sector-focused growth equity investment firm that has raised $6.2 billion to invest in high-growth companies offering a range of innovative solutions in enterprise technology and services and financial technology and services. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in over 140 portfolio companies, including Derivative Path, EBANX, Masttro, Patra, True Potential and Vagaro, and successfully exited/partially exited companies including Centaur (acquired by Waystone Group), Enfusion (NYSE: ENFN), Globant (NYSE: GLOB), InvestCloud (recapitalized), Strata Fund Solutions (acquired by Alter Domus), Tango Card (acquired by Blackhawk Network) and VPay (acquired by Optum). FTV has offices in New York, San Francisco, Connecticut and London.

For more information, please visit www.ftvcapital.com and follow the firm on LinkedIn.

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Ardian acquires majority stake in Masco Group, a leading solution provider to the biopharma and life sciences industry

Ardian

Ardian, a world-leading private investment house, announces its acquisition of a majority stake in Masco Group (“Masco”), a global provider of engineered solutions for the pharmaceutical and biotech industries. Ardian has purchased the stake from RSBG SE, the holding subsidiary of RAG-Stiftung. The Borella family and Masco Group’s current management team will reinvest alongside Ardian and Luca Borella will continue to lead the company as CEO. Angelos Papadimitriou and Claudio Colombi will also invest in this transaction and will join the Board of Directors as Chairman and Director, respectively.

Founded in 1912, and headquartered in Milan, Masco provides a range of bespoke products and services to the biopharma and life sciences industry. These include high-purity water systems, bioprocessing equipment, modular off-site fabricated facility solutions, process engineering, laboratory, validation, and automation services. Masco’s customers include the world’s largest biopharma companies and CDMOs, with international sales in more than 80 countries. Masco’s global footprint includes 7 facilities located across Europe, North America, and Asia.

Ardian will leverage its deep industry expertise in pharmaceutical and life sciences to support Masco in the next phase of growth, driving a number of compelling organic initiatives, further international expansion, and completing acquisitions focused on strengthening the Company’s technological capabilities while driving operational excellence.

“I want to extend my sincere thanks to RSBG for their partnership since 2017, which has been invaluable. My gratitude also goes to the Masco Group management team, along with our dedicated colleagues, whose relentless efforts and outstanding achievements have laid a solid foundation for our ongoing and future success. I am particularly proud to mention my father, Alberto Borella, for his dedication and contribution to this journey and his decision to reinvesting and partnering with Ardian, ensuring continued success and stability of our business. Looking ahead, I am thrilled about the strategic growth plan we have outlined with Ardian, and I am delighted to welcome Angelos Papadimitriou as Chairman of the Board and Claudio Colombi as Director. I am confident the contribution of Ardian team will enhance our technological capabilities and operational excellence, ensuring we continue to meet the evolving needs of our clients and the industry at large.” Luca Borella, Masco Group CEO

“We are extremely happy to partner up with Luca Borella and his family to lead the next phase of growth of Masco. Together with RSBG, Luca and the management have created a global player in advanced engineering solutions for the life sciences industry. We are convinced that Masco is ideally poised to benefit from long-term tailwinds in the biotech industry, due to its deep engineering and process knowledge. We look forward to accelerating the Company’s international development organically and through an ambitious M&A strategy. This transaction is testament to Ardian’s expertise in investing in the most attractive niches within healthcare and partnering with leading entrepreneurial families. I am personally very excited to welcome Angelos Papadimitriou and Claudio Colombi as Chairman and Director of Masco Group, respectively. Angelos and Claudio bring a wealth of knowledge in leading industrial multinationals and will work alongside Luca to further establish Masco as a global leader in its market.” Marco Bellino, Deputy Head of Buyout Italy & Managing Director, Ardian

“Masco is an outstanding organization, and we are incredibly proud to partner with Luca Borella and the Masco team. Masco plays a vital role in the life sciences industry, with its portfolio of products and services supporting the production of numerous ground-breaking therapies and medications. With Ardian’s global reach and expanding presence in North America, we intend to accelerate Masco’s growth while providing their customers with a wider range of innovative products and services. Our investment in Masco exemplifies Ardian’s ability to harness our industry expertise, global reach, and collaborative approach with families and entrepreneurs alike.” Christopher Sand, Managing Director Buyout, Ardian

“I am very pleased to join Ardian, Luca Borella and Masco Group’s management team in this exciting project and be appointed as Chairman of Masco Group. Masco is a global excellence in the engineering, design and manufacturing of advanced solutions for the pharmaceutical and biotech industries. I look forward to utilizing my expertise in the machinery space and background in pharmaceuticals, reconnecting with industry participants, and helping Luca and his team cement Masco’s positioning as a leading consolidator in the space. I am very excited to work once more alongside the Ardian team on another of their portfolio companies. I continue to be impressed by Ardian’s entrepreneurial mindset and ability to scout and invest in global leaders, providing resources and support for reaching their full potential.” Angelos Papadimitriou, Masco Group Newly Appointed Chairman

“We are extremely pleased that in Ardian we have found a great new partner for Masco Group. Together with Ardian, Masco’s seasoned and outstanding management team will continue the growth path we have embarked on together over the past seven years. We are convinced that the Masco Group is excellently prepared for further technological development and geographical expansion in the healthcare, biotech and life sciences industry.” Dr. Klaus Lesker, Chief Executive Officer of RSBG SE

“Since we partnered with Luca Borella and his family in 2017, we have jointly pursued an accelerated buy-and-build strategy with Masco Group. With 4 landmark acquisitions in 5 years, we have successfully inorganically enriched the offerings portfolio and geographic presence of Masco Group. We are extremely proud that together with the management team we were able to expand Masco’s range of advanced machinery solutions also in the field of modular prefabricated facilities for the pharmaceutical and biotech industry. We are confident, that Ardian is an excellent new home for Masco and the ideal partner for further growth over the next years.” Dr. Jan Gudlick, Chief Operating Officer of RSBG SE

PARTICIPANTS

  • ARDIAN

    • ARDIAN TEAM: MARCO BELLINO, CHRISTOPHER SAND, GIORGIO CICALA, JULIA WU, ANDREA AUDISIO, ELENA GARCIA, MATTEO COLLINI
    • EXCLUSIVE M&A ADVISOR: J.P. MORGAN
    • LEGAL ADVISORS: CLIFFORD CHANCE (M&A) | WEIL, GOTSHAL & MANGES AND PEDERSOLIGATTAI (FINANCING)
    • COMMERCIAL DUE DILIGENCE: MCKINSEY & COMPANY
    • FINANCIAL DUE DILIGENCE: PRICEWATERHOUSECOOPERS
    • TAX DUE DILIGENCE & ADVISOR: GITTI AND PARTNERS | PRICEWATERHOUSECOOPERS
    • ESG & ENVIRONMENTAL DUE DILIGENCE: PRICEWATERHOUSECOOPERS
    • INSURANCE DUE DILIGENCE: HOWDEN

  • RSBG SE | MASCO S.R.L.

    • RSBG SE TEAM: DR. ANDREAS JÄGER, DR. HANNA GOTTA, DR. JAN GUDLICK, DR. JANA PANNEMANN, PETER REMPP
    • M&A ADVISOR: JEFFERIES
    • LEGAL ADVISORS: CMS HASCHE SIGLE| CMS ADONNINO ASCOLI & CAVASOLA SCAMONI | CHIOMENTI
    • COMMERCIAL DUE DILIGENCE: MCKINSEY & COMPANY
    • FINANCIAL, TAX DUE DILIGENCE & ADVISOR: GRANT THORNTON

 

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $166bn of assets on behalf of more than 1,650 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 MASCO GROUP

Masco Group is a leading global provider of engineered solutions and services for the life sciences industry, with a focus on the fast-growing Biologics market. The company has a 100+ year track-record in high-purity water, with a wide product portfolio and unrivalled brand recognition through its brand Stilmas. Following the 4 build-ups performed since 2017, Masco has further strengthened its offering with complementary capabilities in bioprocessing equipment (offered through BCD Engineering and Olsa), modular off-site facilities solutions (KeyPlants) as well as value-add services (Vils, Bils, DOC, and MGA). Masco’s turn-key solutions are mission critical to large-cap Biopharma and CDMOs across 80+ countries, providing deep technological and process know-how. The company has 7 manufacturing facilities located across Europe, North America and Asia. Masco Group has revenue in excess of €300m and more than 800 employees.

mascogroup.com

 

ABOUT RSBG SE/RAG-STIFTUNG

RSBG SE is the future-oriented, reliable and strong investment partner for innovative and successful medium-sized companies. Since 2014 and backed by the RAG-Stiftung, we invest in high-growth future markets, sectors and industries that are being shaped by global technology trends. We provide entrepreneurs with long-term support for the strategic development of their business areas, products and services. This is how we achieve continuous value growth in a diversified investment portfolio that encompasses the areas of digitalization solutions, cloud computing, media and communications technology; high-tech manufacturing, industrial automation and robot technology; infrastructure and engineering services; as well as pharmaceuticals and life sciences. Today, we manage a portfolio of 85+ companies within 7 verticals and 12,500+ employees worldwide.
rsbg.com
The RAG-Stiftung is a private foundation that was established in 2007. At the beginning of 2019, the RAG-Stiftung took over the responsibility for financing the perpetual obligations of the German hard coal mining industry in the Ruhr and Saar regions and in Ibbenbüren. In addition, the RAG-Stiftung supports numerous projects in the areas of education, science and culture to promote progress in the former mining regions.

rag-stiftung.de

PRESS CONTACT

ARDIAN

HEADLAND

ardian@headlandconsutlancy.com

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IK Partners to invest in Defibrion

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 Defibrion B.V. (“Defibrion” or “the Company”), a leading Dutch distributor of automated external defibrillators (“AEDs”) and related products. IK is investing from its dedicated pool of Development Capital and acquiring its stake from existing shareholders, including Holland Capital, Co-Founder and current CEO Joshua Valkenier and the management team. Both Joshua and the management team will be reinvesting in the Company alongside IK. Financial terms of the transaction are not disclosed.

Based in Groningen, Netherlands, Defibrion was founded in 2008. As an expert in the field of AEDs and workplace safety, Defibrion offers a wide range of products and related services, acting as a one-stop shop for emergency response needs to more than 6,400 customers globally. These include over 900 resellers in Europe and North America, with the remainder being end-users such as offices, sports clubs and government institutions.

With the support of IK, the Company aims to scale the existing platform on the back of a growing market and increased product awareness, diversifying the offering to directly serve end-customers in new markets and cross-sell to its existing network. Additionally, the Company plans to identify buy-and-build opportunities to accelerate its expansion and drive consolidation in what is currently a fragmented market.

Joshua Valkenier, Co-Founder and CEO of Defibrion, said: “This is an important next step for Defibrion as we seek to further strengthen our position as a global player in the AED market and target continued growth in a marketplace that is constantly evolving. With the support of the team at IK, who has proven experience investing in the Healthcare sector across various European jurisdictions, we are confident that we can deliver success and growth for all our customers and other stakeholders.”

Frances Houweling, Partner at IK Partners and Advisor to IK SC III Fund, added: “We are very excited about the prospect of partnering with Joshua and his team. Defibrion has established itself as a market leader for AEDs in Europe. This market is predicted to continue growing across Europe at an impressive rate year-on-year, largely due to increased awareness of the need for these products, given the rising risk of cardiac arrest. It is also a sector in which the broader IK team has considerable experience and we look forward to bringing this into our partnership with the Company.”

For further questions, please contact:

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

About Defibrion

Defibrion was founded in 2008 and offers a wide range of AEDs and emergency response equipment in Europe. In the Benelux they are the exclusive importer of HeartSine AEDs and offer a full-service concept, including installation, advice, maintenance and training. In addition, Defibrion has developed its own AED cabinet series, operating under the name ARKY, which is sold in over 30 countries worldwide. For more information, visit defibrion.com

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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 over 190 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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Sofina invests in team.blue

HG Capital

Brussels and Ghent, Belgium. 23 July 2024. team.blue and Hg today announce that Sofina , a family-run, global investment company listed on Euronext, has agreed to make a direct, minority investment in team.blue, Europe’s leading digital enabler for entrepreneurs and SMBs (small and medium-sized businesses).

Today team.blue represents one of the largest European digital solution providers to 3.3 million SMB customers across 22 countries. The business continues expanding its product offering to cover all end-to-end and evolving needs of customers, helping them to remain relevant, competitive and successful end-to-end in their digital journey. These solutions are designed to enhance security, ensure GDPR compliance, boost visitor attraction and conversion rates, improve customer engagement through various marketing tools, and assist in both online and offline commerce strategies.

Jonas Dhaenens, Founder and President of team.blue said: “It’s an amazing feat to bring in another highly respected investor to team.blue. We have a decades-long vision on how to stay ahead as one of the largest and most relevant European digital solution providers to SMBs. Sofina, CPP Investments and Hg are crucial, long-term investors who share this enduring vision for the business and together we’re excited for the future.”

Founded 125 years ago, Sofina is a Belgium-based investment company, with a supportive long-term vision to partner with entrepreneurs and families managing growing companies. Sofina backs innovative entrepreneurs with patient growth capital and advice to build tomorrow’s winners, with sustainability at their core. Sofina invests both directly and through Private Equity funds. Its geographical scope is Europe, the United States, and Asia.

Harold Boël, CEO of Sofina, said: “We’re very glad to accompany Jonas and team.blue in the next stage of the company’s development. This investment is a testimony of Sofina’s aim to be a relevant partner for the strongest companies, entrepreneurs and investors in our sectors and geographies of interest.”

Sofina joins CPP Investments who announced an investment in team.blue in early July, valuing the business at around €4.8bn. Hg, a leading investor in European and transatlantic software and services businesses and investor in team.blue since 2019, will remain the largest single investor in the business. President of team.blue Jonas Dhaenens and Ali Niknam will also still remain cornerstone investors alongside the wider management team led by CEO Claudio Corbetta.

Joris Van Gool, Partner at Hg, said: “We warmly welcome the Sofina team. Today the business is one of the largest privately owned technology companies in Europe with an unbroken 20-year growth track record – enabling us to attract quality investors like Sofina with deep Belgian roots, a long-term growth horizon and a global track record. A huge congratulations to everyone at team.blue for achieving this recognition.” This transaction has been signed and is subject to customary conditions and regulatory approvals.

For further information, please contact:

team.blue
Gaia Zampaglione
gaia.zampaglione@team.blue

Sofina SA
Dirk Delmartino, Head of Communications
dirk.delmartino@sofinagroup.com
+32 470 614965

Hg
Tom Eckersley
tom.eckersley@hgcapital.com

About team.blue

team.blue is a leading digital enabler for businesses and entrepreneurs across Europe (Belgium, Bulgaria, Cyprus, Czechia, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, The Netherlands, Portugal, Serbia, Slovakia, Spain, Sweden, Switzerland, Türkiye and United Kingdom). The company is made up of 60+ successful brands who serve 3,3 million customers. team.blue is a one-stop partner for web hosting, domains, e-commerce, online compliance, lead generation and application solutions, supported by more than 2.500 experts. team.blue’s vision is to make online business simpler by shaping technology and providing customers with innovative online products and services.

About Sofina

Sofina is a Belgian investment company, listed on Euronext Brussels. Sofina’s mission is to partner with leading entrepreneurs and families, backing them with patient capital and supportive advice to foster sustainable growth of their businesses. Relationships and alignment are at the heart of what we do. Sofina has investments in Europe, Asia and the United States in various sectors, with a particular focus on Consumer and retail, Digital transformation, Education, Healthcare and Sustainable Supply Chains. For more information, please visit www.sofinagroup.com

About Hg

Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers. This industry is characterised by digitization trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.

With a vast European network and strong presence across North America, Hg’s 400 employees and around $70 billion in funds under management support a portfolio of around 50 businesses, worth over $150 billion aggregate enterprise value, with around 110,000 employees, consistently growing revenues at more than 20% annually. https://hgcapital.com/

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Platinum Equity to Acquire GSM Outdoors

Platinum

LOS ANGELES (July 23, 2024) – Platinum Equity announced today the signing of a definitive agreement to acquire GSM Outdoors from Gridiron Capital.

Financial terms were not disclosed. The acquisition is expected to be completed in Q3 2024.

Headquartered in Irving, Texas, GSM Outdoors is a leading outdoor and consumer sporting goods company with a diverse, growing portfolio of more than 50 different brands.

“The sector is characterized by an attractive combination of resilience, growth potential and M&A opportunities, which suits our firm well. We believe GSM’s distribution network, experience bringing new products to market, rigorous quality control and care for its customers position it well to capitalize on those dynamics and diversify its portfolio to meet the growing demand.”

Louis Samson, Co-President, Platinum Equity

The company equips its customers with branded consumables, accessories and high-quality gear for a variety of outdoor pursuits. It sells through a diverse mix of channels, including online retailers, sporting goods stores, mass merchants, outdoor product retailers, farm and fleet stores and dealers and distributors across the United States and Canada.

“The popularity of outdoor recreation is driving increased demand for a wide range of innovative, technically advanced products tailored for enthusiasts and adventure seekers of all kinds,” said Platinum Equity Co-President Louis Samson. “The sector is characterized by an attractive combination of resilience, growth potential and M&A opportunities, which suits our firm well. We believe GSM’s distribution network, experience bringing new products to market, rigorous quality control and care for its customers position it well to capitalize on those dynamics and diversify its portfolio to meet the growing demand.”

Samson praised the company’s leadership and culture as vital to its success.

“GSM is led by an experienced team of outdoor enthusiasts who are passionate about their mission and the products they bring to market,” said Samson. “We look forward to working with the management team to support a new phase of growth and expansion.”

GSM Outdoors CEO Eddie Castro will continue to lead the company going forward.

“We are proud of the company we’ve built and the success we have had, and now look forward to a new chapter,” said Castro. “Platinum’s expanded access to capital, M&A resources and operational expertise can help further accelerate our growth and create more opportunities for GSM to serve our customers.”

“Our work has proven out that GSM is highly regarded among consumers and channel partners for its customer service, diverse product portfolio and efficient operations,” said Platinum Equity Managing Director David Glatt. “The company is an excellent platform for growth in a highly fragmented market and has proven to be an attractive home for brands looking to increase their reach and maximize their potential.”

Glatt said GSM Outdoors will continue investing in organic growth and M&A under Platinum Equity’s ownership.

“We will partner with the company to expand its offerings through in-house R&D and pursue the large and growing pipeline of prospective acquisitions in both existing product categories and new segments,” added Glatt. “We share the company’s passion for serving outdoor enthusiasts and are excited to get to work.”

Platinum Equity previously owned Fishing Holdings, LLC, the Flippin, Arkansas-based manufacturer of the Ranger Boats, Stratos and Triton fishing boat brands, which the firm sold to Bass Pro Group.

Financing for the GSM acquisition will be arranged Bank of America Merrill Lynch. Latham and Watkins is serving as legal counsel to Platinum Equity on the transaction.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.

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Holland Capital Announces Successful Exit of Defibrion to IK Partners

Holland Capital

Amsterdam/Groningen, 23 July 2024 – Holland Capital is proud to announce that IK Partners (IK) has signed an agreement to acquire our portfolio company, Defibrion. Since 2019, Defibrion’s management team has successfully collaborated with Holland Capital. The shares of Defibrion are being sold to IK and the company’s management team. IK is a leading European private equity firm focused on investments in  the Benelux, DACH, France, Nordics and the UK.

Defibrion: A Leading Provider in AED Distribution and Safety Products

 Founded in 2008 by the current CEO Joshua Valkenier and based in Groningen, Defibrion is a market leader in the distribution of automated external defibrillators (AEDs) and related safety products. The company offers a wide range of products and services aimed at enhancing workplace safety. With over 6,400 customers worldwide, Defibrion serves as a one-stop-shop for emergency response needs. Its customer base, which includes more than 900 resellers in Europe and North America, comprises various end users such as offices, sports clubs, and government institutions.

Strategic Growth and Expansion

Since 2019, Holland Capital has been involved with Defibrion as a shareholder. They actively supported the management in professionalizing the organization and the strategic development of the company. Through a successful buy-and-build strategy and a focus on geographical expansion in Western Europe, Defibrion has been able to grow successfully.

Defibrion is now on the brink of a new phase in its development, which will be supported by IK. In this new phase, Defibrion will further scale up its existing operations, broaden its offerings, and expand into new markets. The strategic plan also includes exploring further buy-and-build opportunities to promote consolidation in the fragmented market of AEDs and related safety products.

Joshua Valkenier, founder and CEO of Defibrion, said: “When Holland Capital joined Defibrion as a shareholder in 2019, we had the ambition to internationalize, professionalize, and further expand our organization. I am pleased that we have achieved this and am grateful to Holland Capital for the pleasant and successful collaboration.”

Ewout Prins, managing partner of Holland Capital, commented: “The collaboration with Joshua Valkenier and the Defibrion team was both successful and enjoyable. When we joined, we were convinced that the AED market offered interesting growth opportunities, and Defibrion has demonstrated this. Their dedication and vision have played a crucial role in achieving this growth. We are proud to have contributed to the successful growth of Defibrion and its life-saving products. We wish the team much success in this next phase of growth.”

About Holland Capital

Holland Capital has been responsibly and successfully investing in promising Dutch and German SMEs with growth ambitions for over 40 years. The team understands entrepreneurship and strives for an open, sustainable, and professional relationship with the management teams of the companies they invest in, with the common goal of realizing growth. Holland Capital has offices in Amsterdam and Düsseldorf. With specialized sector teams, it focuses on the Healthcare, Technology, and Agrifood-Tech sectors. They understand the dynamics and opportunities, and have an extensive network in these sectors.

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Alantra Private Equity to sell Frías Nutrición, a leading Spanish manufacturer of plant-based drinks, to Refresco

Alantra
  • This transaction marks the successful completion of a five-year growth project led by Alantra Private Equity alongside the Frías family
  • Since 2019, Frías has established itself as a market leader in Iberia, and expanded its presence abroad
  • This transaction strengthens Alantra Private Equity’s track record in the food sector

Madrid – Alantra Private Equity is pleased to announce it has agreed to sell its portfolio company Frías Nutrición (“Frías”), a leading manufacturer of plant-based drinks, to Refresco, a global independent beverage group with presence in Europe, North America, and Australia. The parties agreed not to disclose the financial terms of the transaction.

With a production facility in Burgos, Spain, Frías employs around 250 people. The company produces plant-based drinks (mainly oat, almond and soy drinks), as well as broths, creams and tofu for key European retailers.

Headquartered in Rotterdam, the Netherlands, and employing more than 14,500 people, Refresco offers an extensive range of products, from juices to carbonated soft drinks and mineral waters.

Alantra Private Equity Fund III acquired Frías in 2019 and implemented an ambitious growth strategy in collaboration with the Frías family, which included professionalizing the management and transitioning the founding family who also sold to Refresco. Today, Frías is well positioned to capitalize on the growing global popularity of healthy food and beverage options.

Bruno Delgado Luque, Partner of Alantra Private Equity, commented: “Since we acquired Frías in 2019, the company has been on a remarkable growth trajectory, confirming its leadership position in the Iberian Peninsula, and expanding its international business. Together with the Frías family, we launched a major investment plan that resulted in the creation of one of the most modern and efficient plant-based drinks factories in Europe. We are confident that Frías has a bright future ahead and will continue its successful growth with the support of Refresco.”

Hans Roelofs, CEO of Refresco, added: “As part of our proven Buy & Build strategy, we are looking to expand our capabilities in existing and adjacent beverage categories. The acquisition of Frias significantly strengthens our position in the fast-growing plant-based drinks category. It complements our existing footprint in Spain with a production facility solely dedicated to plant-based products. In addition, acquiring Frias enables us to further expand our service offering to retailers and branded customers and retailers across Europe, accelerates our product innovation capabilities in the plant-based drinks category, and underscores our ability to capture opportunities in the market.”

The transaction is subject to regulatory approval and expected to close later this year.

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CapMan Growth together with the consortium announces a public tender offer for all the shares in Innofactor Plc

Capman

CapMan Growth together with the consortium announces a public tender offer for all the shares in Innofactor Plc

The CapMan Growth Equity III fund and Innofactor’s founder, main shareholder and long-time CEO Sami Ensio, through his company Ensio Investment Group Ltd, have formed a consortium for a voluntary, recommended public cash tender offer for all shares issued by Innofactor Oyj. Osprey Capital Ltd is involved in the consortium as a co-investor.

Innofactor offers IT services, such as design services for critical IT solutions, delivery projects, implementation support and maintenance services with the Microsoft ecosystem solutions. The company also develops its own software and services. Innofactor is a respected and strong partner for about 1,000 private and public sector organizations in the Nordic countries. In 2023, Innofactor’s net sales was around 80 million euros and EBITDA was around 9 million euros.

With the experience and versatile resources offered by CapMan Growth and Sami Ensio’s company and industry knowledge, the consortium has exceptional operational experience and know-how to further develop Innofactor ‘s operations and grow the business.

”As a strategic partner, CapMan Growth provides the company with extensive experience in developing IT service companies and a range of resources to accelerate Innofactor’s growth strategy, particularly through acquisitions, as well as a stable and secure domestic owner for the demanding Nordic customer base. I am excited about the opportunity to develop the company together with the company’s founder Sami Ensio”, says Antti Kummu, Managing Partner of CapMan Growth.

As a private company, Innofactor would be able to better focus on its customers, innovations and the implementation of the growth strategy, as well as obtain more flexible financing opportunities.

”I have acted as the CEO of Innofactor during its almost 15 years as a listed company and, in my view, while being a listed company has brought about many positive things to Innofactor, it has also limited Innofactor’s growth and profit potential due to, among others, increased reporting obligations and low liquidity in shares. After careful consideration and exploring a wide range of options, I believe that the current tender offer, supported by CapMan Growth, is the best option for Innofactor ‘s future and its existing shareholders. I am very committed to continue leading the company and to executing its growth strategy. At the same time, I will increase my ownership stake in the company if the public tender offer is completed”, says Sami Ensio, main shareholder of Innofactor and member of the consortium.

Osprey Capital Ltd is involved in the consortium as a co-investor. Osprey Capital Ltd is an investment company founded in 2014 and owned by Timo Larjomaa, a Senior Advisor of CapMan Growth, and his family. Osprey Capital invests e.g. in IT-companies and private equity funds.

CapMan Growth is the leading Finnish growth investor making investments in entrepreneur-led growth companies with revenues ranging between €10–200 million euros. CapMan Growth offers entrepreneurs an alternative to selling the majority of their business by facilitating a partial exit while also supporting growth and internationalisation. CapMan Growth has been part of building companies such as Coronaria, Cloud2, Digital Workforce, Fennoa, Fluido, Neural DSP, Picosun, Sofigate, Silmäasema and Unikie.

For further information, please contact:

Antti Kummu, Managing Partner, CapMan Growth, +358 50 432 4486

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.7 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. 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 and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

Innofactor

Innofactor is the leading driver of the modern digital organization in the Nordic Countries for its about 1,000 customers in commercial and public sector. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor has about 600 enthusiastic and motivated top specialists in Finland, Sweden, Denmark and Norway. For more information: www.innofactor.com

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Platinum Equity Completes Sale of Hunterstown Power

Platinum

LOS ANGELES (July 19, 2024) – Platinum Equity announced today that the sale of the Hunterstown power generation facility and related assets to LS Power has been completed.

Financial terms were not disclosed.

Located in Gettysburg, Pennsylvania, the Hunterstown facility is a combined-cycle gas turbine generating power plant that provides 810 MW to the PJM (Met-Ed) 500kV grid, with enough to supply more than 600,000 homes.

“Hunterstown is a good example of how Platinum can use its playbook to create value in different ways,” said Platinum Equity Co-President Louis Samson. “The Hunterstown facility is an outstanding asset, with high free cash flow and strong recurring revenue, acquired from a seller that needed a divestiture solution during a time of distress, so it checked a lot of the boxes we typically look for. Our experience with corporate carveouts and our willingness to be open minded put us in position to help.”

Platinum Equity acquired the facility in 2018 from GenOn, a unit of NRG Energy Inc. (NYSE: NRG), which had filed for bankruptcy protection in June 2017, and managed it as a standalone business in the firm’s portfolio.

“Hunterstown performed well and benefited from meaningful investment and operational oversite during our ownership,” said Platinum Equity Managing Director David Glatt. “We then found a new home for the facility with a buyer who is a natural fit for the long term. We are proud of the outcome and will continue seeking opportunities to put our M&A capabilities to work in creative ways.”

Evercore served as financial advisor to Platinum Equity on the sale of Hunterstown and Latham & Watkins LLP provided legal counsel to Platinum Equity.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.

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Stoneweg and Bain Capital Sell Casa Lit Barcelona Hotel

BainCapital

Stoneweg and Bain Capital Sell Casa Lit Barcelona Hotel

LONDON and BARCELONA, SPAIN – July 22, 2024 – Stoneweg, the real estate investment company, and Bain Capital, the global private equity firm, through their hotel real estate joint venture, have sold the Casa Lit Barcelona hotel to Grupo Hoteles Gargallo.

Situated in the heart of Barcelona just 400 metres from Las Ramblas, the [4*] hotel was constructed in 2010 on the site of the former Colón theatres. It comprises 89 rooms, blending historic charm with contemporary design. Since taking over the management in 2022, Stoneweg Hospitality has delivered a successful renovation and introduced the Casa Lit brand (previously Acta Mimic hotel), infusing it with a fresh and innovative style. The property has been managed by the Ona Hotels chain.

Benefitting from its proximity to Barcelona’s main tourist and cultural attractions, the hotel has become increasingly popular with tourists, business travelers, and meeting attendees, which has underpinned its very strong its operational performance.

The acquisition of Casa Lit Barcelona by the Gargallo Hotels Group marks a significant expansion for the chain, reinforcing Gargallo’s position in the competitive Barcelona market with a commitment to excellence and innovation in the hospitality sector.

Miguel Casas, Managing Director of Stoneweg Hospitality, commented” We are very proud to have owned and managed Casa Lit Barcelona and to have contributed to its success. We have every confidence that the sale to Grupo Hoteles Gargallo, a dynamic and fast growing operator, will see a continuation of what is currently an exceptional guest experience in the economy segment, under a management committed to quality.”

Francisco Bello, Operating Partner, from Bain Capital added: “This transaction is a testament to our focus on creating value through strategic investments in high-quality real estate assets. We are confident that Grupo Hoteles Gargallo will take the hotel to new heights.”

Xenia Gargallo Gay, Managing Director of Grupo Hotelero Gargallo, said: “We are delighted to add Casa Lit Barcelona to our portfolio, bringing our total number of hotels in Barcelona to eleven and reinforcing our leadership in the iconic Ciutat Vella district of Barcelona. This hotel aligns perfectly with our vision of offering exceptional accommodations in key locations. We look forward to continuing its legacy of excellence and providing an unforgettable experience for our guests.”

The integration of Casa Lit Barcelona into the Grupo Hoteles Gargallo stable is scheduled for next month, with plans for its immediate incorporation into the chain’s offerings and quality standards.

About Bain Capital Credit 

Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $52 billion in assets under management. Bain Capital Credit invests across a full spectrum of strategies, including leveraged loans, high-yield bonds, distressed debt and special situations, private lending, structured products, non-performing loans, special situations real estate and majority and minority equity stakes. Founded in 1998 as a private, employee-owned firm, Bain Capital Credit’s experienced team of over 150 investment professionals seeks to identify attractive equity and credit investment opportunities across North America, Europe, and Asia-Pacific. In addition to credit, Bain Capital invests across asset classes including private equity, public equity, real estate and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.

About Stoneweg

Stoneweg (www.stoneweg.com) is a real estate investment adviser and asset manager established in 2015 and headquartered in Geneva, Switzerland. The firm leverages in-house local operational teams to source, develop and manage real estate investments. To date, Stoneweg has executed and advised on almost €5 billion of real estate investments across different sectors including developments. Stoneweg expertise includes both equity and debt strategies, advising its client base of financial institutions and family offices across a range of structures including club deals, joint ventures, co-investments and funds. The firm’s investment philosophy is driven by a bottom-up approach to project selection, utilising Stoneweg’s own teams on the ground and deep networks to seize the best opportunities. Stoneweg has a dedicated presence in Switzerland, the United States, Spain, Italy, Andorra and Ireland, enabling many of the operational aspects of the firm’s investments to be carried out in house and locally. Stoneweg has completed more than 300 acquisitions alongside best-in-class partners since 2015.

About Grupo Hotelero Gargallo

Grupo Hotelero Gargallo is a Spanish hotel chain with more than 60 years of experience in the sector. With an outstanding presence in Barcelona and other key cities in Aragon such as Huesca or Teruel, the chain is characterized by its commitment to quality and customer service with a total of 20 hotel establishments. Currently the Hotel Group Gargallo, in its third generation, is immersed in a process of renewal of its strategic vision led by Xenia Gargallo Gay, in her capacity as administrator, characterized by a commitment to the family legacy appropriate to the new times, highlighting the attractive heritage of the Group with several of its hotel establishments located in emblematic and historic buildings and always with a clear philosophy of service and prioritization of the customer experience.

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