Webstep announce terms of IPO

Reiten

Webstep announce terms of IPO

As announced earlier in September, Webstep intends to list their shares on the Oslo Stock Exchange and the terms of the IPO is now released. Subject to approval of the application for listing and successful completion of the Offering, the company is expected to be admitted to trading on 11 October 2017. The indicative price range for the company’s shares is set at NOK 23.75-27.75, corresponding to an equity value of NOK 505-590m

The IPO will comprise of a secondary sale of up to 9,379,870 existing shares in the company and a new issue of NOK 120m, which will be used to pay down long-term debt. Reiten & Co Capital Partners VII L.P will sell up to 6,455,176 shares, equivalent to 55% of their current shareholding.

For further information, please see the stock exchange notice: http://www.newsweb.no/newsweb/search.do?messageId=435320

The Prospectus will, subject to regulatory restrictions in certain jurisdictions, be available at:

www.webstep.com
www.arctic.com
www.sb1markets.no
www.sr-bank.no/markets

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EQT Mid Market sells stake in TransIP

eqt

  • EQT Mid Market and EQT Mid Market Europe sell stake in domain name, hosting and VPS provider TransIP to its founder
  • Both parties strongly believe in the future prospects of TransIP and are in agreement that having one owner with full control serves the interests of TransIP best

On September 19, 2017, EQT Mid Market and EQT Mid Market Europe agreed to sell their stake in domain name, hosting and VPS provider TransIP (or “the Company”) to Cherenkov B.V., a company controlled and fully owned by Mr. Ali Niknam, founder of TransIP.

TransIP is the largest independent domain name, hosting and Virtual Private Server (“VPS”) provider in the Benelux with a focus on tech savvy customers and IT professionals. TransIP is headquartered in Leiden in the Netherlands. The Company has developed and continued its expansion across existing products and markets, and generated a substantial growth and EBITDA increase.

During EQT’s ownership, a high-caliber Board was formed with Jonas Persson, former CTO EMEA at Microsoft acting as Chairman, who was joined, among others, by Denise Koopmans, former CEO LexisNexis. In addition, Oliver Mauss, a former CEO of 1&1, the largest European hosting Group, joined as CEO and Mark Stork, former CFO at Multikabel BV (today part of Ziggo), joined as CFO.

“TransIP is going through a fast transformation, with a particularly strong growth in its core tech-savvy customer segment with its VPS product in the Benelux. TransIP has a unique and entrepreneurial culture and I am confident that they will continue to prosper in the future”, says Jonas Persson, resigning Chairman of TransIP.

“Following discussions on ownership strategy, both EQT and Mr Ali Niknam believe having one owner with sole control is the best structure for TransIP going forward. TransIP is a great company with strong talent and is well positioned to enjoy further future growth,” says Florian Funk, Partner at EQT Partners and Investment Advisor to EQT Mid Market and EQT Mid Market Europe.

TransIP has appointed a new management team and supervisory board effective immediately. The parties have agreed not to disclose financial details of the transaction.

Contacts:
Florian Funk, Partner at EQT Partners and Investment Advisor to EQT Mid Market, +49 89 2554 99 504

EQT Press office, +46 8 506 55 334

About EQT
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital. EQT has portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

For further information, please visit www.eqtpartners.com

About TransIP
TransIP is the largest independent domain name, hosting and VPS provider in Benelux with a focus on tech savvy customers and IT professionals. The company is headquartered in Leiden in the Netherlands and has approximately 100 employees.

For further information, please visit www.transip.nl

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Intelligent and autonomous IT monitoring: bm|t invests in Enginsight GmbH

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BM-T

Enginsight GmbH, headquartered in Jena, Germany, develops and distributes an innovative, autonomously operating monitoring platform that detects dependencies between IT resources and highlights critical paths, risks and threats as well as security gaps for servers and websites. Whole IT landscapes can be analyzed and monitored for security, availability and stability. From the customer portal to the networked production system, from the outside (Internet) as from the inside (internal company network).

Enginsight pursues a new approach, using algorithms and artificial intelligence, to monitor the systems autonomously. This gives you the opportunity not only to be informed as to whether something has failed or is broken, but also to gain insight into the infrastructure itself and to discover dependencies or critical security gaps that were previously unknown.

Recently, the two-member founder team completed the seed funding round with bm|t (bm-t Beteiligungsmanagement thüringen gmbh) as lead investor as well as Paysmark Verwaltungs- und Beteiligungsgesellschaft mbH and Brandenburg Ventures GmbH as co-investors.

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Nordic Capital divests fast-growing payments company Bambora to global payments leader Ingenico Group

Nordic Capital Logo

Nordic Capital Fund VIII (“Nordic Capital”) has signed an agreement to divest global payment company Bambora to Ingenico Group (publ.) for an Enterprise Value of approximately EUR 1.5 billion. Less than three years after its start-up, Bambora is now an industry innovator with a unique and compelling position in the global payments industry. Ingenico Group is one of the world’s largest payment companies and the acquisition of Bambora strengthens its online positioning and growth profile with its global omni-channel payments solutions. Nordic Capital and the management team in Bambora have managed to realise a strong vision to change the payments landscape, resulting in a fast-growing customer-orientated company based on modern products and technology, within just a few years.

Based on a platform carve-out from one of the large Nordic banks, Nordic Capital together with the strong and experienced management team saw an opportunity to change the payments landscape through a carefully crafted acquisition strategy and significant investment in products, capability and the organisational framework. In 2015, Bambora was launched as a single brand and platform with a strong technological base and a customer-centric offering and culture.

Today, Bambora simplifies payments and helps 110,000 customers to grow in 70 different markets, manages transactions with a value of over EUR 55 billion per year, of which more then 70% are online and mobile. Bambora gained 15,000 new customers during the first six months of 2017, had an annual revenue amounting to EUR 202 million in 2016 and is performing with a very high organic growth. Bambora employs more than 700 people, of which 400 are newly recruited in the last 2.5 years.

Ingenico Group is the global leader in seamless payment with the world’s largest payment acceptance network, and generated revenues of over EUR 2.3 billion in 2016. With Ingenico Group as new owners, Bambora will be able to further leverage its technology platform and strong team within Ingenico Group’s footprint for even faster growth and expansion.

“Bambora is an excellent example of entrepreneurial business innovation, and yet another great Swedish unicorn leveraging strong local tech capabilities to create a global digital leader. Bambora is the result of a strong vision based on deep insight into the market, followed by fast and innovative execution by the management team. I am immensely proud of the team behind Bambora and would like to thank them for their dedication and exceptional work over the last few years”, says Fredrik Näslund, Partner, NC Advisory AB, advisor to the Nordic Capital Funds.

“I’m really happy about this deal, because it will benefit all our customers. I’m also very proud of the company culture we have built together, based on high energy, collaboration and always putting our customers first. Our unique cooperation with Nordic Capital has probably set a new record in moving from a vision to a start-up to a recognised industry innovator. With Ingenico Group as the new owner, we will be able to take the next natural step in our development and together provide even better conditions for our customers to support their growth”, says Johan Tjärnberg, CEO of Bambora.

“Anticipating the future evolutions of commerce, Ingenico Group has, in recent years, been pursuing a strategy of expanding its offering towards integrated payment services. The acquisition of Bambora represents a key milestone in our strategic plan providing a more integrated client offering and omni-channel solutions. It will enhance our customer centric approach and will reinforce our online and in-store positioning through a perfect complementarity. This transaction will be additive to our growth profile and will create value for our shareholders, customers and employees” said Philippe Lazare, Chairman and CEO of Ingenico Group.

The Technology and Payment sector is one of Nordic Capital’s core sectors. Together with its industry-leading tech investment team, Bambora is the second Swedish headquartered global payments company that Nordic Capital has created within the payments industry, the first one being the payment terminal and software company Point, which was exited in 2011. The divestment of Bambora follows a period where Nordic Capital has maintained a high level of transaction activity with ten successful exits and five new platform investments since the beginning of 2016.

The transaction is subject to approval by the relevant competition and regulatory authorities. Closing is expected in the fourth quarter of 2017.

 

Press contact:

Nordic Capital

Elin Ljung, Director of Communication and Sustainability
NC Advisory AB, advisor to the Nordic Capital Funds
M: +46 708 66 10 40, E: elin.ljung@nordiccapital.com

 

About Nordic Capital

Nordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 11 billion through eight funds. The Nordic Capital Funds are based in Jersey and are advised by six advisory companies, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital, please visit www.nordiccapital.com

 

About Bambora

Bambora helps businesses grow. With a suite of simple payment products, it’s easy to keep track of daily transactions both online, in-store, or in-app. Founded in 2015, Bambora has been built with assets having significant experience in the payments industry. Now an international presence, with more than 700 employees, customers in 70 markets, and 300 commercial partners, Bambora processes EUR 55 billion per year. For more information, please visit www.bambora.com

 

About Ingenico Group

Ingenico Group (Euronext: FR0000125346 – ING) is the global leader in seamless payment, providing smart, trusted and secure solutions to empower commerce across all channels, in-store, online and mobile. With the world’s largest payment acceptance network, Ingenico Group deliver secure payment solutions with a local, national and international scope. Ingenico Group are the trusted world-class partner for financial institutions and retailers, from small merchants to several of the world’s best known global brands. The solutions enable merchants to simplify payment and deliver their brand promise. Learn more at www.ingenico.com

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Ardian arranges £50m Unitranche to refinance Lyceum’s Bellrock and fund acquisition plan

London, July 6th 2017 – Ardian, the independent private investment company, today announced the arrangement of a Unitranche financing facility to refinance Bellrock, a leading facilities management and property services provider. The facility will also fund Bellrock’s acquisition of Profile Consultancy Limited (“Profile”), and includes a committed debt facility to further support Bellrock’s expansion plans.

Bellrock was formed in 2000 as SGP Property Services. It provides facilities and property management, and other associated services, to a large blue chip customer base spread across a broad range of sectors and disciplines, including education, healthcare, and retail & leisure, in both the public and private sectors. Backed by Lyceum since 2013, the company has been a leading player in the technology-enabled service management space.

Profile, jointly based in Bedford and York, is the UK’s leading service charge expert, and currently manages £250 million service charges per annum on behalf of its corporate clients in the retail and leisure sector. Profile’s services add to the corporate occupier offering provided by Bellrock, following last year’s acquisition of Property Solutions. Bellrock is now the leading independent provider of service charge management to corporate occupiers in the UK, making it the partner of choice for all tenant service charge requirements.

Following five successful add-on acquisitions in 2016, completed together with investor Lyceum Capital, this latest acquisition is the single biggest investment to reinforce Bellrock’s technology-driven facilities management and property management service offering. Bellrock’s acquisition strategy will be further supported in the future by Ardian through committed and uncommitted financing facilities.

Olivier Berment, Co-Head of Ardian Private Debt and Managing Director, said: “Bellrock is an innovator in its sector with its focus on tech-enabled services to support the property management needs of its commercial customers. Add-on acquisitions will continue to form a key part of Bellrock’s growth strategy, so we are excited to offer flexible financing to enable this, and help the team realise its ambitious growth plans.”

David Smith, CEO, Bellrock, added: “Profile is a highly skilled outfit and a perfect fit for Bellrock, which now has a reputation as the leading tech-enabled facilities management and property services provider in the UK. We are delighted to bring Ardian on board as a new partner to help drive our ambitious growth strategy, as we continue our organic expansion as well as acquiring additional businesses that further complement our product suite.”

Adam Lewis, Investment Director at Lyceum Capital, added: “The last 12 months have been transformational for Bellrock. During this time David and the team have successfully created a market leader in property and facilities management. We continue to see huge potential for the business.”

ABOUT BELLROCK

Founded in 2000, Bellrock supplies a range of managed facilities and property services under long-term contracts to a blue chip client-base spanning the healthcare, education, corporate and retail sectors. The company uses its own facilities management technology platform to plan, report and analyse trends, which helps its customers operate and manage their estates more efficiently. The Company oversees or delivers c.1million facilities management jobs per annum.

www.bellrock.fm
ABOUT ARDIAN

Ardian, founded in 1996 and led by Dominique Senequier, is an independent private investment company with assets of US$62 billion managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship.

Ardian maintains a truly global network, with more than 460 employees working through twelve offices in Beijing, Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, New York, Paris, San Francisco, Singapore and Zurich. The company offers its 580 investors a diversified choice of funds covering the full range of asset classes, including Ardian Funds of Funds (primary, early secondary and secondary), Ardian Private Debt, Ardian North America Direct Buyout, Direct Funds (Ardian Mid Cap Buyout, Ardian Expansion, Ardian Growth, Ardian Co-Investment), Ardian Infrastructure, Ardian Real Estate and customized mandate solutions with Ardian Mandates.

www.ardian.com

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Ardian acquires stake in Sarbacane Software

Ardian acquires stake in Sarbacane Software

Paris, 4 July 2017– Ardian, the independent private investment company, today announces the
acquisition of a minority stake in Sarbacane Software , the leading email and digital marketing software
publisher for small businesses in France and Europe.

Founded in 2001 by current CEO Mathieu Tarnus, Sarbacane Software provides simple and efficient
digital marketing software solutions to over 10,000 customers around the world.
Over the past three years, the company has undergone a major period of investment which has allowed it
to consolidate its two established brands – “Sarbacane” in France and “Mailify“ abroad. The Company
also broadened its range of solutions with an SMS marketing tool “Primotexto”, an interface helping
software publishers and webmasters manage transactional emails “Tipimail”, and most recently a solution
for the WordPress community “Jackmail”.

Sarbacane Software CEO and founder Mathieu Tarnus said:

“ We have invested significantly in the business over the past three years. To accelerate our growth, it was important that we choose a partner with a strong understanding of the issues relating to international growth as well as the challenges
associated with expanding our product range. Given the team’s track record and entrepreneurial
approach, Ardian Growth was the obvious choice of part ner for us.”
In addition to Ardian’s expertise in supporting growth-oriented companies as well as providing support
via its extensive network, the partnership will enable the Sarbacane Software management team to increase
its international footprint, particularly across Spain, where the group already has a local presence. This
investment will also allow Sarbacane Software to seize build-up opportunities for further growth across
Europe.

Ardian Growth Director Geoffroy de La Grandière said:

“In the changing email marketing sector, Sarbacane Software has made its mark as an important
independent player developing solutions and expanding internationally, using a strong growth mo
del delivering double-digit returns.” Ardian Growth Senior Investment Manager Bertrand Schapiro
added: “Our knowledge of the digital marketing industry and the broader economic environment in sout
hern Europe will enable Sarbacane Software to continue accelerating its growth in the SMB market.”

ABOUT SARBACANE SOFTWARE

Sarbacane Software was founded in 2001 and has established itself over the past 15 years as a leader in email
and digital marketing in France and Europe. The company is managed by Mathieu Tarnus and is based in Hem,
near Lille, with offices in Barcelona and New York. It has 80 employees and over 10,000 customers worldwide.
Sarbacane Software has delivered double-digit growth since its creation. The company is targeting €20
million within the next three years and is aiming to become one of the top three European companies in the sector.

ABOUT ARDIAN

Ardian, founded in 1996 and led by Dominique Senequier, is an independent private equity company with
assets of US$62bn managed or advised in Europe, North America and Asia. The company, which is majority- owned by
its employees, keeps entrepreneurship at its heart and delivers investment performance to its global inves
tors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence,
loyalty and entrepreneurship. Ardian maintains a truly global network, with more than 450 employees working
through twelve offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, San Francisco, Beijing,
Singapore, Jersey, Luxembourg. The company offers its 580 investors a diversified choice of funds covering the full
range of asset classes, including Ardian Funds of Funds (primary, early secondary and secondary), Ardian Private
Debt, Ardian Buyout (including Ardian Mid Cap Buyout Europe & North America, Ardian Expansion, Ardian Growth
and Ardian Co-Investment), Ardian Infrastructure, Ardian Real Estate and Ardian Mandates.

www.ardian.com

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Digital workspace innovator RES Software to be acquired by Ivanti

Gimv

Digital workspace innovator RES Software to be acquired by Ivanti

RES Software, a digital workspace software company focused on improving the consumption of IT services through secure, automated workspace and identity provisioning, signed an agreement with US based Ivanti, a global leader in integrating and managing the IT digital workplace.

RES Software (www.res.com) was founded in Den Bosch (The Netherlands) in 1999. The company has grown from a start-up company into a global market leader in the field of user workspace management. RES‘ flagship offering addresses user environment management and identity governance across physical, virtual, and cloud environments via its converged platform. Their capabilities for bulk provisioning and de-provisioning user accounts will combine with Ivanti’s process automation to help IT organizations more effectively automate onboarding and off-boarding processes.

Since Gimv’s initial investment in spring 2010, RES expanded fast geographically in Europe and later on also in North America, the customer base grew significantly and revenues tripled. Today RES is operating in 27 countries with a team of over 250 people and counts about 2 500 customers worldwide. The acquisition by Ivanti aims to empower the company in extending its automation capabilities to a larger pool of applications, platforms and databases.

We thank Gimv for the valuable and professional partnership, not only for giving us financial support but for their expertise enabling our company to grow into an international software player as well,” said Bob Janssen, Founder and CTO at RES. “Today, we are excited to continue that journey within the Ivanti organization.

Elderd Land, Partner at Gimv and board member of the company comments: “Originated in the Netherlands, RES has developed into a global player, thanks to its superior technology and visionary skills of its management team. We thank the RES team for the great cooperation over the past years and we are proud having been able to be part of this successful international growth story.”

The transaction is expected to close shortly. Over the 7 year holding period, this investment generated a return in line with Gimv’s long-term average return, with no major impact on the equity value at 31 March 2017. No further details about this transaction will be disclosed.

 

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AddPro strengthens ownership structure to enable more rapid expansion. Adelis becomes new majority owner

Adelis

Since 1 January 2015, when it was acquired by its founders and partners in an MBO, AddPro has had a very strong development to become one of the leading application and cloud integrators and IT outsourcing partners in Sweden. The owners are now taking the next strategic step and are strengthening the current ownership structure by bringing in Adelis Equity as a new partner to continue to develop the business and further increase its growth.

“AddPro is in a very expansive phase. By year-end, the business will have grown by more than 70% over three years, and the number of employees will be approaching 200 people. During approximately eight months of intensive analysis, we have evaluated different alternatives and opportunities for AddPro to continue its successful journey,” says Nicklas Persson, CEO and one of AddPro’s founders. “Throughout this process Adelis stood out as a very agile player with good knowledge and understanding of AddPro’s business and very good knowledge about the IT market in Sweden and our neighbouring countries. These are traits that we, our employees and our customers value highly, and we are truly excited about continuing to develop the business together with Adelis in the Swedish and Nordic markets! We have created a real dream team,” Nicklas Persson continues.

“We are impressed by AddPro’s strong development and the market leading position the company has built in the south of Sweden – very much thanks to its strong culture, skilled management and competent staff. We have an optimistic view of the future development of the Swedish market, where the investment in AddPro constitutes an attractive platform for continued growth,” says Joel Russ at Adelis.

“AddPro has a very strong and well developed service concept and offering that we will now accelerate and offer more customers in the market as we know our concepts strengthen our customers’ competitiveness and ability to realize their respective strategies in order to reach their goals,” says Klas Ljunggren, CTO and one of the founders of AddPro. “With Adelis, we will significantly increase our service development as well as establish a presence in additional strategically important geographic areas,” Klas Ljunggren continues.

Adelis is acquiring slightly more than half the shares in AddPro in order to become a majority owner, while the founders and management will continue to own a large share of the company. An aggressive plan for growth in the Swedish market has been jointly developed.

For further information:

Nicklas Persson, AddPro AB, nicklas.persson@addpro.se, +46-73-625 75 50

Joel Russ, Adelis Equity, joel.russ@adelisequity.com, +46-73-543 30 68

About AddPro

The AddPro group is active within the IT Service segment Safe and Efficient IT, and was established in the year 2000. The business is developing very positively, is expanding rapidly and it currently has offices in Malmö (hq), Göteborg, Helsingborg and Kristianstad.

AddPro is one of the leading application and cloud integrators in Sweden. With a combination of top ranked consultants, strategic suppliers, selected cloud services, own data centres and a 24×7 manned service desk, the business can offer the market the best solutions within AddPro’s area of business. The business is expected to during 2017 approach a turnover of SEK 300 million with good profitability, and employ around 200 specialists of which around 170 are technical consultants active in one the company’s two business areas. For more information please visit www.addpro.se .

About Adelis Equity Partners

Adelis is an active partner in creating value at medium sized Nordic companies. Adelis was founded with the goal of building the leading middle market private equity firm in the Nordics. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, acquiring 13 platform investments and making more than 20 add-on acquisitions. Adelis now manages approximately €1 billion in capital. For more information please visit www.adelisequity.com .

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HgCapital leads $5.3bn buyout of Visma, Europe’s largest ever software buyout

  • HgCapital leads the largest ever European software buyout in a transaction valued at NOK45bn / £4.2bn / $5.3bn
  • HgCapital led the buying investor group and will ultimately represent 41% of Visma equity as a result of this transaction; significant minority investors are Cinven, GIC, Montagu and ICG alongside management who will retain a 7% stake in the business
  • HgCapital led the public-to-private investment in Visma in 2006 and has been a key shareholder for 11 years, increasing its ownership in both 2014 and now in 2017

29 June 2017: HgCapital has today announced a further investment into Visma Group Holdings (“Visma”), a leading provider of business-critical software to SMBs in the Nordic and Benelux region. HgCapital will invest a further £238 million, in addition to its current holding, valuing the total business at an enterprise value of NOK45 billion (£4.2 billion, US$5.3 billion), making this the largest ever software buyout in Europe and one of the top 5 globally.

HgCapital will be the lead investor in the new transaction structure, representing 41% of the equity, alongside GIC, Singapore’s sovereign wealth fund, Montagu and ICG, who will hold minority stakes. Following this transaction, KKR will have realised its entire stake in the business, with Cinven separately retaining a shareholding of c. 17% in Visma. GIC, Montagu and ICG are all committing direct capital to the business, which continues to demonstrate the ability of Visma to attract world-class institutional investor support to help drive the future growth of the business.

This group is collectively acquiring 100% of KKR’s stake in Visma and 40% of Cinven’s shareholding as part of their exit process; investing a total of c. £1.4 billion of equity as part of the transaction. Completion is subject to regulatory approval.

This transaction values HgCapital ‘s 2014 investment in Visma at 2.4x original cost / c. 36% gross IRR in NOK, after less than three years of ownership.

In 2002, HgCapital’s TMT team identified regulatory-driven, subscription-based software as an attractive sub-sector with scope for considerable growth over the following decade.  HgCapital has made more than twelve investments in the regulatory-driven software space over the last fifteen years and more than 150 bolt-on acquisitions over this same period.  In total HgCapital has made 37 software TMT investments and over 200 bolt-on software acquisitions since 2002, making the firm comfortably the most active European TMT investor over this period.

HgCapital initially invested £101 million in Visma in 2006 (through the firm’s HgCapital 5 fund), completing a public-to-private de-listing from the Oslo stock exchange valuing the business at £382m at that time. HgCapital subsequently continued to hold a stake in the business and supported Visma’s continued growth over the next eight years, before re-investing again in 2014 (through its HgCapital 7 Fund), alongside both KKR and Cinven.

Visma gives investors ongoing exposure to a leading provider of mission critical accounting, resource planning and payroll software to small and medium-sized enterprises as well as the public sector in the Nordic region. HgCapital has known Visma and its management team since 2004 and will continue to support the business going forward in order to grow revenues both organically and through acquisitions.

HgCapital will continue to work with Visma’s management in the ongoing transition of the company’s software products to Software as a Service (“SaaS”).  Visma is one of the leading SaaS providers to SMB’s and the public sector in Europe, with the potential to accelerate this growth both through organic investment and further bolt-on acquisitions.

Producent van software voor (online) boekhouden, voorraadhoudende groothandel, projectadministratie, urenregistratie, accountancy, relatiebeheer en HRM- en salarisadministratie

Visma’s performance over the eleven years since 2006 has been consistently strong, growing both revenues, profit, employee numbers and research and development investment every year including throughout the financial crisis, Visma’s revenues grew from NOK1.6 billion in 2006 to NOK7.9 billion in 2016, a compound annual growth rate of 17%; EBITDA increased from NOK240 million in 2006 to NOK1.9 billion in 2016, (CAGR of 23%). Separately, the company has also completed more than 120 bolt-on acquisitions over the same period and improved operating margins from 15% to 25%.

“We have been incredibly fortunate to partner with Øystein Moan, CEO of Visma, and his exceptional management team over the last 11 years. They and we have an exciting vision for the business which sees us delivering an ever-increasing number of products and services to our millions of happy customers” said Nic Humphries, Senior Partner and Head of the TMT team at HgCapital.

Øystein Moan, CEO of Visma commented “With KKR now realising their holding after 7 years of investment in Visma, the management team appreciates our long-term investor HgCapital, increasing their holding in the business to 41%. KKR have been good owners of Visma and the company has enjoyed strong growth under their guidance. With deep sector knowledge, HgCapital has made a significant contribution to the development of Visma since 2006, and we look forward to working together towards pan-European expansion and transformation to a pure cloud computing company together with Cinven, GIC, Montagu and ICG. This global network and access to capital will be important when developing and growing Visma over the coming years.”

HgCapital and the buying investor group were advised on this transaction by Arma Partners, Lazard, Deloitte, Skadden, White & Case and Bain & Co.

 

Norvestor invests in NetNordic

Norvestor

Norvestor VII, L.P. (“Norvestor”), a fund managed by Norvestor Equity AS, has signed an agreement to invest in NetNordic (“The Company”). Following the acquisition, Norvestor will become the largest shareholder in NetNordic with approximately 75% of the shares whilst the management and employees will hold the
remaining 25%.

NetNordic is one of the largest independent System Integrators in the Nordics with a leading position within communications solutions networks and security. The Company was established in 2001
and has experienced strong growth over the last few years
through organic initiatives and acquisitions. NetNordic partners include technology leading industry vendors like Juniper, Huawei, Nokia, Microsoft, Mitel, Palo Alto, Arbor and Avaya.

NetNordic delivers solutions and services for Unified Communication(i.e. integrated secure enterprise communication solutions including video, mobile, conferencing and contact centers), network security and network management, WiFi-as-a-service and tailor made system integration for its customers.
Nordic customers include LME , public administration,
municipalities, operators and service providers which all view
NetNordic ́s services as a critical component of their business.

“We are proud of what we have accomplished and foresee strong
Growth opportunities ahead of us.
In Norvestor we have found a partner with a proven track record and experience from our business which will contribute both to expand our business and to explore new opportunities. We are extremely happy about this new partnership and are confident that this will allow us to deliver even better and broader solutions, services and customer experiences in the future”, says Jarl Øverby, Group CEO of NetNordic.

“We’re excited to include NetNordic in our portfolio. It’s a company
that has shown strong growth with a highly skilled management and
organization. We are impressed by the ircompetence and the industrial platform they have built. The market fundamentals give NetNordic growth opportunities and we look forward to contributing to further development and success. We also aim to participate in consolidating a fragmented Nordic system integrator market, making NetNordic an ideal match for
Norvestor”, says Christian Sontum, Partner at Norvestor Equity and Chairman designate in NetNordic Holding.

“NetNordic has been a very special and successful journey for us since we entered as a venture investor back in 2007 when the company was fairly young. It is therefore both with pride and humility we now leave the majority ownership to Norvestor. We are confident in their future together and wish Norvestor and the NetNordic team all the best in continued growth by providing the utmost customer focus and highest industry standard”, says Tor Øystein Repstad, Managing Director in Agder Energi Venture.

Contact persons:
Jarl Øverby, CEO of NetNordic Group,
jarl.overby@netnordic.com, tel. +4798217009.
Christian Sontum, Partner of Norvestor Equity AS,
christian.sontum@norvestor.com, tel. +47 99153698
Tor Øystein Repstad, CEO of Agder Energi Venture AS,
tor.oystein.repstad@ae.no, tel. +47 90696862

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