IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK Small Cap I Fund has reached an agreement to sell its stake in Izium (or “the Group”), one of the leaders in the French CRM outsourcing market, to Comdata. Financial terms of the transaction are not disclosed.

Izium offers an extensive portfolio of customer experience services, including consulting, telesales, customer services, debt collection and technical assistance, to a large client base. The Group operates 14 contact centres in France, Morocco and Madagascar. In 2016, Izium generated revenue of €200 million and employed approximately 6,000 people.

“During IK’s ownership, Izium has successfully diversified its client base outside the telecom industry, benefitting from the continued outsourcing trend of customers services in utilities, automotive and financial services. Furthermore, the Group completed three add-on acquisitions, and investigated a significant number of opportunities in adjacent fields and in neighbouring countries,” said Pierre Gallix, Partner at IK and advisor to the IK Small Cap I Fund.

“In Comdata we feel that we have identified a strategic buyer who will be able to oversee further growth of the business – both organically and through further acquisitions. This is a unique opportunity, and we cannot thank IK enough for their support”, said Maxime Didier, founder of Izium Group and b2s President.

Izium is the first exit from IK’s debut small cap fund.

Completion of the transaction is expected in August 2017, subject to work council consultation and regulatory approvals customary.

For further questions, please contact:

IK Investment Partners
Pierre Gallix, Partner
Phone: +33 1 44 43 06 60

Mikaela Hedborg
Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9 billion of capital and invested in over 100 European companies. IK funds support 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  www.ikinvest.com

About Izium Group
Izium Group offers an extensive portfolio of customer experience services, including consulting, telesales, customer services, debt collection and technical assistance, to a large client base. The Group is well positioned to achieve additional growth, already operating 14 contact centres in France (10), Morocco (3) and Madagascar (1). In 2016, In 2016, Izium Group generated revenue of MEUR 200. The Group employs approximately 6,000 people and serves ca. 150 clients. For more information, visit http://izium.fr

Ufenau IV – Successful Divestment of NRW Building Technology

Ufenau Capital Partners(“Ufenau”) has sold its majority shareholding in NRW Building Technology Holding GmbH (“NRW”) to funds advised by Bregal Unternehmerkapital(“Bregal”).

NRW, headquartered in Nordrhine-Westphalia and active at further six locations in Germany, Switzerland and Austria, is one of the leading independent technical building solutions providers with high quality planning, installation, design and engineering capabilities. Since partnering with Ufenau, NRW has grown the business considerably; sales increased from EUR 55m to EUR 115m in 2016. For 2017, sales are forecasted to achieve EUR 155m. This corresponds to a growth Of 180% since Ufenau’s entry in 2014.

In the same period, the number of employees increased significantly from approximately 350 to over 600.In addition to the strong organic growth, a major contribution relates to the acquisition of five strategic add-ons. Within the past 32 months, NRW acquired regional champions HSV Kälte-Klima-Lüftungstechnik, Wölpper, Issler, DL-Technik and Eberl.”

On behalf of NRW, I would like to thank the Ufenau team for its collaborative partnership and support to the growth and further development of our group.

During Ufenau’s ownership, NRW developed strongly and was able to further strengthen the regional presence in Germany, with sustainable investments in our employees.

We are very pleased to have found a long-term oriented partner in Bregal who supports our plans for further sustainable growth” comments Heinz-Josef Rehms, CEO of NRW.

Dieter Scheiff complements: “NRW has developed excellently during our ownership. With five successful strategic acquisitions, the newly implemented Buy -&-Build strategy was effectively executed and NRW has proved to be a

successful consolidator in a fragmented market. We wish all the best to NRW ’s management team in pursuing further its entrepreneurial goals”.

The Ufenau Team

About Ufenau Capital Partners

Ufenau Capital Partners is a privately owned Swiss Investor Group headquartered at the Lake Zurich which advises private investors, family offices and institutional investors with their investments in private equity.

Ufenau Capital Partners is focused on investments in service companies in German-speaking Europe and invests in the Education & Lifestyle, Business Services, Health Care and Financial Services sectors. Through a renowned Group of experienced Industry Partners (Owners, CEOs, CFOs),

Ufenau Capital Partners pursues an active value – adding investment approach on eye-level with entrepreneurs and managers.

SnapAV, a leading vertically-integrated supplier in the rapidly growing connected home sector, today announced that affiliates of Hellman & Friedman LLC (“H&F”) have entered into a definitive agreement to acquire the company from General Atlantic.

SnapAV sells proprietary-branded audio/video (“AV”), security, networking, and automation products to residential and commercial AV, security and technology integrators. These integrators in turn serve “Do-It-For-Me” consumers, selling, installing and integrating SnapAV’s products as part of a custom home solution. The company wholesales approximately 2,700 SKUs across 14 proprietary brands and serves integrators across the United States with outstanding eCommerce, customer service and support capabilities—enabling its dealer customers to operate more confidently, more efficiently and ultimately more profitably.

John Heyman, CEO of SnapAV, said: “Our broad, high-quality product lineup and ability to anticipate and support our dealers’ needs has been critical to our success. We know what dealers want and how to make their job easier, and our logistics system ensures they get what they need fast and at the right price. Responding to our customers, we have expanded into the networking, surveillance and remote cloud management categories, and created a one-stop solution for technology integrators. We thank General Atlantic for their contributions to SnapAV’s growth and development over the past four years and welcome Hellman & Friedman as our new partner. Hellman & Friedman’s industry expertise and outstanding track record of helping companies like us grow will serve us well as we continue to execute on our strategy of providing great products and exceptional service to our dealer customers.”

“SnapAV’s innovative eCommerce platform, compelling products and excellent service deliver tremendous value to the integrator community,” said Erik Ragatz, Managing Director of Hellman & Friedman. “With its network of loyal dealers and an outstanding base of employees, SnapAV is very well positioned to continue on its growth trajectory. We look forward to partnering with John and the rest of the management team as the company moves into its next phase of growth.”

Mark Dzialga, Managing Director at General Atlantic, said, “We have been pleased to support SnapAV through a period of substantial growth and appreciate our strong partnership with the management team. As SnapAV enters its next phase of development, we are confident the company is in great hands with Hellman & Friedman and we look forward to watching its future success.”

The transaction is expected to close in the third quarter of 2017. Additional terms were not disclosed.

UBS Investment Bank and SunTrust Robinson Humphrey acted as M&A advisors to Hellman & Friedman on the transaction. Simpson Thacher & Bartlett LLP acted as legal counsel to Hellman & Friedman. Evercore acted as M&A advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to SnapAV and General Atlantic.

About SnapAV
Established in 2005 and based in Charlotte, North Carolina, SnapAV is a manufacturer and exclusive source of more than 2,700 installation-friendly audio, video, networking, power and surveillance products for residential and commercial A/V integrators. SnapAV empowers integrators to run more efficient businesses by providing high quality products at attractive prices, supported by best-in-class online ordering and award-winning customer service. Additional information about SnapAV and its product brands can be found at www.snapav.com.

About Hellman & Friedman
Hellman & Friedman is a leading private equity investment firm with offices in San Francisco, New York, and London. Since its founding in 1984, H&F has raised over $35 billion of committed capital. The firm focuses on investing in superior business franchises and serving as a value-added partner to management in select industries including business & information services, software, retail & consumer, internet & media, financial services, healthcare, and industrials and energy. For more information on Hellman & Friedman, please visit www.hf.com.

About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector-specific expertise, long-term investment horizon, and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, and Singapore. www.generalatlantic.com

Paris (France), 19 June 2017: Apax Partners and Altamir announce that they have sold the first block of their remaining stake in Gfi Informatique, a major European player in value-added IT services and software, to Mannai Corporation.

As announced in a press release on May 10, Apax Partners and Altamir, which hold c. 18.5% of the share capital and voting rights of Gfi Informatique, have completed the first sale of c. 12% of the share capital and voting rights. The balance of c. 6.5% of the share capital and voting rights will be sold in June 2018.

Gfi Informatique holds a strategic position in its differentiated approach to its clients, from global firms to niche entities. With its multi-specialist profile, the Group serves its customers with a unique combination of proximity, sector organisation and industrial-quality solutions. The Group currently employs c.  14,000 people.

The company’s revenue grew from €633 million in 2006 to €1,015 million in 2016, breaking through the billion-euro mark. Gfi Informatique’s growth strategy is based on three specific objectives: transformation of its business model, internationalisation and build-ups.

Transformation of its business model

Gfi Informatique has successfully managed the development of its model by industrialising its processes and know-how, particularly through the development of international service centres, allowing for both greater access to expertise and improved operational efficiency for the Group’s customers.

Internationalisation

Gfi Informatique has refocused its international activities, strengthened its presence in Southern Europe and opened up to Eastern European markets. Today, international business represents 25% of the Group’s pro forma revenues.

Build-ups

Gfi Informatique has successfully acquired and integrated 20 companies since 2006, allowing it to enhance its range of services and expand abroad. The acquisitions of Roff and Efron in 2016 in particular allowed Gfi Informatique to double the size of its business in Iberia.

Vincent Rouaix, CEO of Gfi Informatique, said: “The Apax Partners teams were totally in line with our growth strategy from the beginning. Their specific knowledge of the ESN market allowed us to achieve the transformation of our business model and our geographic repositioning, and to invest in build-ups that were relevant and accretive for the Group.”

Gilles Rigal, Partner at Apax Partners, added: “We are proud to have supported the strong growth and successful transformation of Gfi Informatique, and to have forged solid relationships with a CEO and teams of such high quality”.

About Gfi Informatique

www.gfi.world/fr

Gfi Informatique is a major player in value-added IT services and software in Europe, and through its differentiated approach occupies a strategic position between global firms and niche entities. With its multi-specialist profile, the Group serves its customers with a unique combination of proximity, sector organisation and industrial-quality solutions. The Group has around 14,000 employees and generated revenue of €1,015 million in 2016.

Gfi Informatique is listed on the Paris Euronext, NYSE Euronext (Compartment B) – ISIN Code:FR0004038099.

About Apax Partners

www.apax.fr

Apax Partners is a leading private equity firm in French-speaking countries in Europe. With more than 45 years of experience, Apax Partners provides long-term equity financing to build and strengthen world-class companies. Funds managed and advised by Apax Partners exceed €3 billion. These funds invest in fast-growing middle-market companies across four sectors of specialisation:

TMT: Altran, Gfi Informatique, InfoVista, Melita, Nowo-ONI and Vocalcom

Consumer: Europe Snacks, Groupe AFFLELOU, Groupe Royer, Sandaya, and THOM Europe (Histoire d’Or, Marc Orian, TrésOr, Stroili and Oro Vivo)

Healthcare: Amplitude Surgical

Services: Groupe INSEEC, Marlink and SK FireSafety

About Altamir

www.altamir.fr

Altamir (Euronext Paris-B, LTA) is a listed private equity company with almost €800m in assets under management. The company invests via and with the funds managed or advised by Apax Partners France and Apax Partners LLP, two leading private equity firms in their respective markets. It provides access to a diversified portfolio of fast-growing companies across Apax’s sectors of specialisation (TMT, Retail & Consumer, Healthcare, Business & Financial Services) and in complementary market segments (mid-sized companies in French-speaking European countries and larger companies across Europe, North America and key emerging markets).

19 Jun 2017

HgCapital, the Manager of HgCapital Trust plc (the “Company”), today announces an investment in Esendex, a leading provider of mission-critical business messaging services across Europe. This represents a further investment into the Technology Infrastructure cluster. On completion of the transaction, Esendex will be merged with existing Mercury portfolio company Mobyt, which provides similar business messaging services in Italy and France. HgCapital will have a majority share in the combined business with the Company owning c. 20% alongside other HgCapital clients. The terms of this transaction were not disclosed.

HgCapital Trust plc will invest approximately £8.9 million in Esendex (including £5.5 million in co-investment), in addition to the £2.7 million of equity already invested in Mobyt.  Other institutional clients of HgCapital will invest alongside the Company through the HgCapital Mercury Fund.

The Company, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all HgCapital’s investments.

Following completion, approximately 83% of the Mercury Fund will have been invested. In February 2017, the Company committed £80 million to further investments in smaller-cap technology companies, with the Mercury 2 Fund, over the next four to five years.

Based on the pro-forma 31 May 2017 NAV, the Company’s liquid resources available for future deployment, including all announced transactions, are estimated to be £137 million (22% of the pro-forma 31 May 2017 NAV of £621.2 million). In addition, the Company has access to an £80 million standby facility, which is currently undrawn. Following the transaction, the Company will remain committed to invest approximately £474 million in HgCapital deals over the next four to five years.

HgCapital announces an investment in Esendex

19 June 2017: HgCapital has today announced an investment in Esendex, a leading provider of mission-critical business messaging services across Europe. The investment is being made from HgCapital’s Mercury Fund which focuses on growth buyouts in the technology sector across Europe. This represents a further investment into the Technology Infrastructure cluster. The terms of this transaction were not disclosed.

Founded in 2001, Esendex provides a broad portfolio of high value business critical application-to-person messaging solutions to SMEs and corporate customers. Esendex’s product portfolio includes SMS, voice, email, payment and IP-based products which are delivered over rich APIs and web applications. Over 13,000 businesses in the UK, France, Spain, Ireland, Germany and Australia rely on its services to communicate with their customers and staff. Esendex employs over 140 people across its international offices. Esendex was acquired by Darwin Private Equity in July 2013.

Esendex recently acquired SMSpubli, a leading supplier of business messaging services in Spain, to further strengthen its position in this fast-growing market.

On completion of the transaction, Esendex and SMSpubli will combine with Mobyt SpA and SMSenvoi, existing HgCapital portfolio companies, which provide similar business messaging solutions in Italy and France.

The combined group will generate more than €75 million of revenue across its wide portfolio of brands and territories. The group will be led by existing Esendex CEO, Geoff Love, and HgCapital intends to back the group to further consolidate this fast-growing sector across Europe.

Esendex demonstrates many of the business model characteristics that HgCapital looks for, including: a high proportion of recurring revenues from serving a large fragmented base of SMEs, delivering an operationally critical service and the opportunity to back a strong management team.

David Issott, a Partner in the HgCapital Mercury team, said. “We are delighted to be partnering with Geoff Love, as well as the entire management team and staff at Esendex, Mobyt, SMSpubli and SMSEnvoi.com for the next phase of their journey. We are very excited to be backing this opportunity to create a leading European champion in business messaging. We will immediately look to invest further behind the group to accelerate its growth, both organically and through further acquisitions, and we will also seek to intensify the pace of technology and product development to support the group’s customers in their deployment of high value mission critical use cases.”

Geoff Love, CEO of Esendex, commented: “This is an exciting time for mobile business messaging and the combination of these four strong businesses creates a European heavyweight in application-to-person communications.  With around 200 staff and 25,000 customers, sending some 2 billion messages a year, we are extremely well-positioned to take this fast-growing industry forward. With HgCapital’s backing for further acquisitions, as well as continuing strong organic growth, we look forward to helping even more businesses transform their communications with their customers and staff.”

– Ends –

For further details:

HgCapital
Laura Dixon
+44 (0)20 7089 7888

Maitland
Tom Eckersley
+44 (0)20 7379 5151

About HgCapital Trust plc

HgCapital Trust plc is an investment trust whose shares are listed on the London Stock Exchange (ticker: HGT.L). The Company is a client of HgCapital, giving investors exposure to a portfolio of high-growth private companies, through a liquid vehicle. New investments and existing portfolio companies are managed by HgCapital, an experienced and well-resourced private equity firm with a long-term track record of delivering superior risk-adjusted returns for its investors. For further details, please see www.hgcapitaltrust.com.

Eurazeo, a leading global investment company listed in Paris, in partnership with West Street Capital Partners VII, a fund managed by the Goldman Sachs Merchant Banking Division (“GS MBD”), has announced the completion of the acquisition of Dominion Web Solutions(“DWS”), an integrated platform of branded marketplaces and digital marketing solutions for the powersport, RV, commercial truck and equipment industries.

Eurazeo and GS MBD reached an agreement in May 2017 to purchase the company. Eurazeo ’s total investment is $226 million for a 50% equity stake. This completes Eurazeo’s first investment in the U.S. since opening its North America headquarters in September 2016.

About Dominion Web Solutions >

Dominion Web Solutions is the leading online classifieds marketplace and marketing software solutions provider to commercial and recreational dealers. Its mission of bringing buyers and sellers together remains the core of its businesses. DWS is committed to providing innovative products to ensure that customers generate leads, drive sales and maximize profits.

Its B2C brands consist of Cycle Trader, RV Trader, ATV Trader, PWC Trader, Snowmobile Trader, and Aero Trader, producing over 7 million unique visitors monthly. Additionally, its industry leading B2B brands consist of Commercial Truck Trader, Commercial Web Services, Equipment Trader, RV Web Services and focus on supporting its dealers and manufacturers with driving impressive results as top of mind.

Dominion Web Solutions has 10 businesses and approximately 300 employees with its home office located in Norfolk, VA.

About Eurazeo>

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

HgCapital, the Manager of HgCapital Trust plc (the “Company”), has announced that it has sold Zitcom, a leading Danish hosting and cloud solutions provider operating in the SME segment, to Intelligent, a Belgian headquartered provider of hosting services. The terms of this transaction were not disclosed.

The sale of Zitcom delivers a c. 3.3x investment multiple and a c. 145% gross IRR over the investment period.

The Company, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all HgCapital’s investments. The Company will realise cash proceeds of approximately £8.8 million on completion of the transaction.  This represents an uplift of £4.4 million (101%) or 12 pence per share over the carrying value of £4.4 million in the Net Asset Value (“NAV”) of the Trust at 31 May 2017 which was based on the Directors’ valuation as at 31 December 2016.

Based on the 31 May 2017 reported NAV (including all announced transactions and the revaluation of the carried interest provision), the pro-forma NAV of the Company is expected to increase to £621.2 million or 1,664.4 pence per share. The Trust’s liquid resources available for future deployment are estimated to be £146 million (24% of the pro-forma 31 May 2017 NAV).

The investments within the Company’s portfolio were last valued at 31 December 2016. The Company’s 2017 interim results, including the re-valuation of the portfolio as at 30 June 2017 will be announced on 11 September 2017. 

HgCapital’s Mercury Fund sells Zitcom Group to Intelligent
 

• Exit has delivered a c. 3.3x investment multiple and c. 145% gross IRR after 18 months of ownership
• Second exit from HgCapital’s specialist lower mid-market Mercury TMT fund, which has delivered aggregate realised returns of c. 2.8x and c. 70% gross IRR
• The £380m Fund made its first investment in 2012; and has returned c. 40% of invested capital back to clients

 14 June 2017, London: HgCapital is pleased to announce that it has sold Zitcom Group, a leading Danish SME-focused hosting and cloud solutions provider, to Intelligent, a Belgian headquartered provider of hosting solutions. The terms of this transaction were not disclosed.

HgCapital partnered with the management of Zitcom Group in December 2015, representing the 7^th investment for Mercury, HgCapital’s specialist lower mid-market TMT fund. This exit marks the second full realisation for the Mercury fund, following the sale of Relay announced in August 2016 and four prior successful recapitalisations across the portfolio.

Through organic growth and acquisitions, Zitcom Group has created a leading Danish SME focused hosting and cloud solutions provider with activities in both the mass and managed hosting space, including domains website hosting, email for smaller customers and managed servers and applications for larger customers. The group has demonstrated over ten years of consistent revenue growth and provides cloud services to over 100,000 business and private customers in Denmark, operating under the brands Zitcom, Wannafind, UnoEuro, Curanet, ScanNet and Cloud.dk.

The business displays many of the characteristics that HgCapital looks for including: an attractive growth sector; a loyal customer case; a strong management team; and platform potential for M&A.

During HgCapital’s 18-month ownership period, HgCapital has supported Zitcom Group’s acquisition and integration of four companies which has helped double the customer base and revenue while close to tripling profits of the Group.

Following this sale, the Mercury 1 Fund will have returned nearly 40% of invested cost, including proceeds from the prior exit of Relay Software (announced in July 2016 for 2.1x cost / 39% gross IRR) and a combination of other portfolio company refinancings. The Fund has delivered overall realised returns of c. 2.8x cost and a c. 70% gross IRR.

Stefan Rosenlund, CEO of Zitcom Group, said: “HgCapital has been a fantastic partner for Zitcom Group and has helped us mature – both as a business and as individuals. HgCapital has been a huge asset in developing Zitcom Group into a strong and market leading hosting group ready for new challenges and new ownership. I thank HgCapital for the trust and time that they have invested in us and look forward to continue Zitcom Group’s growth journey in the Danish SME hosting market.”

Nick Jordan, Director at HgCapital, said: “It has been a pleasure to partner with the Zitcom Group management team and employees over the last 18 months and play a role in building a leader in the Danish SME hosting segment. They have transformed their sector in Denmark. We wish them continued success in this exciting new phase of their story”

HgCapital were advised by Harris Williams, Linklaters and Accura.