Tag Archives: Services

IK Partners to invest in HSL Compliance

IK Partners

London, United Kingdom – IK Partners (“IK”) is pleased to announce that the IK Small Cap III (“IK SC III”) Fund has signed an agreement to invest in HSL Compliance (“HSL” or “the Company”), a leading provider of environmental compliance services in the UK, alongside the management team who are re-investing as part of the transaction. This follows HSL’s successful six-year partnership with LDC, the private equity investor which is part of Lloyds Banking Group. LDC is also reinvesting in HSL for a minority stake alongside IK as the majority owner to support the continued growth of the business. Financial terms of the transaction are not disclosed and completion is subject to customary regulatory approvals.

Headquartered in Herefordshire and founded in 1976, HSL is a leading UK environmental testing, inspection, certification and compliance (“TICC”) company which provides a range of services across water hygiene, water treatment and other compliance activities. The Company boasts extensive national coverage with 19 offices across the UK and Ireland and employs approximately 650 people who serve a diversified base of more than 370 customers across a variety of private and public sectors, including Food and Beverage, Manufacturing, Facilities Management, Healthcare and Education.

Since LDC’s investment in 2019, HSL has quadrupled pro-forma revenues to £77 million and doubled headcount to 650 employees, establishing itself as a high-quality business capable of meeting the needs of nationally or regionally complex estates seeking a full-service provider for water hygiene and treatment services, alongside fire and air compliance services. With LDC’s support and follow-on funding, HSL has delivered a successful M&A programme and completed 11 bolt-on acquisitions, significantly increasing the breadth of its UK coverage and client base.

In partnership with IK, HSL will aim to lead the market in delivering solutions that keep its clients’ people protected, their businesses compliant and their environments safe. Through its extensive experience of investing in TICC platforms, IK will work closely with the HSL management team to accelerate growth both organically and through further consolidation of its target markets.

Gavin Hartley, CEO of HSL, said: “HSL has grown tremendously since inception and with the recent add-on acquisitions, I believe we have built an extremely solid foundation for the future. With the support of LDC, we have established HSL as a market-leading TICC service provider in the UK. The new partnership with IK will allow us to continue executing a targeted buy-and-build strategy and explore new opportunities to broaden our service offering. I’d like to take this opportunity to thank the LDC team for their unwavering support over the last few years and look forward to working with them alongside the team at IK.”

Tom Salmon, Partner at IK and Advisor to the IK SC III Fund, added: “We have been closely following the progress made by HSL in recent years and have been impressed by its unwavering commitment to quality and service delivery. We are looking forward to working with Gavin and his experienced team in their efforts to drive continued growth, by utilising our experience and expertise in executing successful buy-and-build strategies, while also supporting growth across a range of operational initiatives.”

Jonathan Bell, Managing Partner at LDC, added: “This has been a truly transformational period for HSL following the carve-out from global testing, inspection and certification group Kiwa in 2019. Since then, Gavin and the team have delivered on an ambitious growth strategy, underpinned by investment in its proposition and a series of successful strategic acquisitions. We’re excited to support HSL alongside IK as it continues to capitalise on high demand for its market-leading services in an attractive sector.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Director of Communications and Marketing
Phone: +44 7787 558 193
vidya.verlkumar@ikpartners.com

LDC
Jamie Williamson
Citypress on behalf of LDC
Phone: +44 7908 536 423
Jamie.Williamson@citypress.co.uk

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 195 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com

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About LDC

LDC is a private equity investor and part of Lloyds Banking Group. It is authorised and regulated by the Financial Conduct Authority. We have partnered with more than 675 management teams since 1981 and have a portfolio of more than 90 businesses across the UK. We have made investments across all major sectors of the UK economy and are actively supporting businesses in industries including Business Services, Consumer, Healthcare, ICT, Industrials, Media and Technology. Our teams are based in every part of the UK. For more information, visit ldc.co.uk

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AnaCap signs agreement to acquire majority stake in DK Accountants & Adviseurs, a leading founder-led Dutch accountancy services provider

Anacap

AnaCap, a market-leading private equity investor specialised in partnering with founders and entrepreneurial management teams across services, technology and software within the European financial ecosystem, today announces that it has signed an agreement for the acquisition of a majority stake in DK Accountants & Adviseurs (“DK” or the “Company”), a leading founder-led Dutch accountancy services
provider.

This acquisition marks AnaCap’s first investment in the Netherlands. It is also one of the first investments for AnaCap’s latest flagship vintage fund.

Founded in 1989, DK is an independent, full-service accountancy and advisory platform focused on providing accounting, tax, payroll, advisory and audit services to SMEs. The Company has grown from a single office to support clients across the Netherlands through its 12 offices. The business is led by a talented and experienced management team with a proven track record of delivering both organic and inorganic growth.

The accounting and audit market in the Netherlands has been experiencing steady growth, driven by longterm trends. The market is highly fragmented in nature, providing significant opportunities for further consolidation and enhancing operating leverage through scale.

Since 2019, DK has completed 8 acquisitions independently and has successfully integrated these businesses supported by significant investment in its IT platform, thereby enabling future scalability. Following AnaCap’s investment, DK aims to consolidate the fragmented Dutch accountancy market and continue to achieve above-market organic growth.

The Company’s seasoned management team, led by Founder and CEO Alber De Koning, will continue to steer the Company, ensuring important continuity as well as leveraging their deep industry expertise. AnaCap’s investment will enable the DK leadership team to significantly accelerate its M&A plans, supported by AnaCap’s extensive experience in executing successful buy-and-build strategies across the financial ecosystem in Europe. The partnership will also focus on driving operational efficiencies, expanding service offerings and enhancing client value with technology and innovation as the cornerstones of business excellence.

The transaction is subject to the information and consultation of DK’s employee representative bodies and to other customary closing conditions, including regulatory approval with respect to the audit arm of the Company. AnaCap received financial advice from KPMG and legal advice from  Linklaters.

Nassim Cherchali, Managing Partner at AnaCap, commented:

“We are thrilled to announce the signing of this majority investment into DK. This represents one of the first investments in our latest flagship fund with a number of other transactions already under exclusivity and progressing well towards the signing stage. DK presents as an appealing opportunity to invest in a fastgrowing market with a significant runway for future M&A activity. DK closely aligns with AnaCap’s core investment philosophy with an impressive and highly recurring revenue profile, strong client loyalty and a clear roadmap to margin expansion through both scale and productivity gains over time.”

Nicholas Montoute, Investment Director at AnaCap, added:

“We are delighted to announce our inaugural investment in the Netherlands with a leading accountancy platform. AnaCap’s investment in DK demonstrates our commitment to partnering with ambitious management teams to support and accelerate their growth ambitions. We are excited to work with the entire team at DK and are thrilled to welcome them to the AnaCap platform.”

Alber De Koning, CEO of DK, concluded:

“We are excited to partner with AnaCap, whose strategic vision and operational expertise align perfectly with our growth ambitions. This partnership will provide us with the resources and support to grow as well as deliver exceptional value to our client base.”

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Ounce of Care and Standard Communities Announce National Launch of Tech-enabled Resident Services

Flare Capital
  • Partnership brings the Ounce platform to over 10,000 residents in 50 properties across 15+ metro areas and 8 states

WASHINGTON, Jan. 15, 2025 /PRNewswire/ — Ounce of Care, the nation’s leading provider of tech-enabled resident services for affordable housing communities, and Standard Communities, one of the largest affordable housing owners in the U.S., are excited to announce an innovative partnership that provides high-quality, tech-enabled services to residents across its portfolio. This partnership brings Ounce’s platform to over 10,000 residents in 50 properties across 8 states with plans to expand to additional properties in Standard’s portfolio in the future.

Ounce and Standard will work closely to assess and gain a comprehensive understanding of the unique needs and priorities of residents at each site. By conducting detailed evaluations and engaging directly with the community, the two can provide support that effectively addresses specific challenges and opportunities that residents experience.

Through its custom tech platform (the “Ounce Hub”) and a team of highly trained Community Navigators, Ounce will provide connections to social services and resources to residents who live in affordable housing. Using a hybrid service delivery model, the partnership will enhance financial stability, promote health and wellness, and create safer, more engaged communities.

“At Standard, we are committed to creating thriving communities where residents feel supported and empowered,” said Aaron Thomas, Senior Managing Director, Standard Communities. “Partnering with Ounce allows us to deepen that commitment by providing tech-enabled services that directly promote the well-being of our residents. With Ounce’s robust reporting and communications platform, we’re thrilled to have real-time insights into the tangible impact on their quality of life—this will help us create safer, healthier, and more connected communities.”

“We are thrilled to be partnering with Standard to expand Ounce’s impact to an additional 10,000 residents across the country,” said Rachel Munsie, co-founder and CEO of Ounce. “The Ounce model has demonstrated impact by connecting families and seniors to needed resources, putting money back into residents’ pockets, and delivering unparalleled resident satisfaction. This partnership allows us to replicate these outcomes nationally.”

About Ounce of Care

Ounce is on a mission to empower healthy and thriving communities. Ounce’s tech-enabled and scalable platform promotes resident engagement, stability, and outcomes. Ounce recently announced partnerships with AmeriHealth Caritas D.C., National Housing Trust, Enterprise Community Partners, and Jubilee Housing. With this partnership, Ounce now serves over 80 properties and 17,000 residents across the U.S.

Learn more at: www.ounceofcare.com

About Standard Communities

Based in New York and Los Angeles, Standard Communities has a portfolio of over 27,000 apartment units and more than $5 billion in assets under management across 21 states and Washington, D.C. With expertise in development, acquisitions, renovations and construction, Standard Communities strives to cultivate long-term public and private partnerships to produce and preserve high-quality, affordable and environmentally sustainable housing.

Learn more at: www.standard-communities.com

Media contact
press@ounceofcare.com

SOURCE Ounce of Care

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Warburg Pincus Acquires Minority Stake in Contabilizei for $125 Million

Warburg Pincus logo

Warburg Pincus Acquires Minority Stake in Contabilizei for $125 Million

Investment highlights next phase of growth for the accounting technology services company

São Paulo, Brazil, October 14, 2024 – Contabilizei, a leading accounting firm in Brazil, today announced a $125 million investment from Warburg Pincus, a leading global growth investor. Founded in 2013, Contabilizei automates accounting services, focusing on small businesses and self-employed professionals. Contabilizei currently serves more than 50,000 clients, operates at break-even, and generated total revenue exceeding R$ 300 million.

With this transaction, Warburg Pincus is the largest shareholder of Contabilizei, acquiring stakes from venture capital funds that had invested in Contabilizei starting in 2014, including Kaszek.

Contabilizei’s main service is providing free company registration and accounting services with a 99% automated process to calculate and pay taxes, fulfill tax obligations, and handle accounting records for micro and small businesses, as well as self-employed individuals. This is done considering various geographical and sector-specific realities, as tax regulations differ depending on the state, municipality, and industry. The company also offers an integrated bank account solution that links to its accounting services, a key differentiator to simplify its clients’ financial routines. Recently, it began offering health plans, creating a comprehensive platform for micro and small business owners.

“Contabilizei strengthens Warburg Pincus’ thesis of investing in scalable technology companies in sectors that still have low technology adoption and growing demand. We see great potential in the company, especially in a market still dominated by manual processes, with ample room for automation and the use of artificial intelligence. Additionally, there is significant room for further monetization through the expansion of financial services offered on the platform,” says Bruno Maimone, Managing Director, Warburg Pincus. “The investment in the company is also aligned with our global strategy, as we have a long history of investing in companies in the tax automation space in the United States, such as Avalara and Chipsoft.”

According to Vitor Torres, CEO and founder of Contabilizei, the entry of Warburg Pincus is another important validation of the company’s cash-generation-focused growth strategy over the past few years. “In a highly fragmented market, dominated by traditional companies relying on manual processes, we have reached more than 50,000 clients thanks to the superior quality of our services, increased efficiency through time savings, and, most importantly, offering the complete range of services that entrepreneurs need,” he says.

“More than just accounting and tax payments, small business owners and freelancers have many other management needs. For this reason, we also offer business checking accounts, financial services, health plans, and important partnerships to even support the physical and mental health of entrepreneurs. Our focus is to increasingly meet the needs of small business owners through a seamless journey on our platform, empowering them with better management, efficiency, and financial health. We are working hard to ensure Contabilizei continues its high growth rate in the coming years and maintains its delivery of high-quality, trustworthy services to help small business owners succeed. Warburg Pincus has extensive experience supporting high-growth companies in scaling within their markets, and we are confident this will be crucial for our next phase of growth,” adds the CEO.

“We are very excited to collaborate with Warburg Pincus in this next phase of Contabilizei’s growth. We share their conviction in the thesis and in Vitor’s ability to execute. We are pleased to continue being part of this journey,” says Rodrigo Costa, partner at Softbank Latin America Funds.

With the investment in Contabilizei, Warburg Pincus now has a portfolio of 11 Brazilian companies, 8 of which are in the technology sector.

About Warburg Pincus

Warburg Pincus LLC is a leading global growth investor. The firm has more than $83 billion in assets under management. The firm’s active portfolio of more than 225 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Since its founding in 1966, Warburg Pincus has invested more than $117 billion in over 1,000 companies globally across its private equity, real estate, and capital solutions strategies. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com. Follow us on LinkedIn.

About Contabilizei

Contabilizei is the largest accounting firm in Brazil, serving over 50,000 clients. It is a leader in company formation and CNPJ management, offering complete, exclusive, and integrated solutions in one place for micro and small entrepreneurs, as well as self-employed professionals. Founded in 2013, Contabilizei offers cutting-edge technology and the expertise of more than 1,200 specialists across various fields to provide reliable accounting services, free company formation, business checking accounts, and health and wellness benefits for entrepreneurs.

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greytHR Secures its Largest Investment in Series F Funding from Apax Digital Funds

Apax

greytHR, a full-suite HRMS provider, announced that it has secured a strategic investment from Apax Digital Fund II (“the Apax Digital Funds”), advised by Apax, a leading global private equity advisory firm. The company will use the funds to leverage the significant growth opportunities in the cloud-based HR software market.

greytHR offers 40+ tools for automating HR, payroll, leave & attendance, and performance management, along with an employee self-service portal and mobile app. Serving over 23,000 customers in 25+ countries, it is a comprehensive HR ecosystem featuring HR professionals, experts, and chartered accountants. greytHR’s customer-centric services include a community, training academy, compliance website, resources, webinars, and an award-winning podcast series.

The investment will enable greytHR to further enhance its product portfolio, including adding more strategic HR modules focused on recruitment and talent management, as well as support the company in accelerating growth and expanding into new customer segments, cementing its position as a market leader.

“We’re excited to welcome Apax as part of our growth journey, marking a significant milestone for greytHR. We’re also deeply grateful to MegaDelta and Blume for their support and belief in our vision from the early days of greytHR. As outgoing board members and partners, the spirit of collaboration with Bala, Tarun, Ruchir, Kapel and Karthik is highly appreciated and will be truly missed. In the next chapter of our journey, we look forward to scaling new heights with the backing of Apax and our continuing shareholders Info Edge and GMO. Moreover, we wouldn’t be where we are today without the support of our customers, resellers, affiliates, and the entire greytHR community.” said Girish Rowjee, Co-founder & CEO of greytHR.

“This funding accelerates our plans to enhance customer experience and our R&D efforts by upskilling our employees and expanding our business. In fact, we have already started adding and building out AI-enabled modules and other value-added services to help our customers optimize their investment in greytHR.” added Sayeed Anjum, Co-founder & CTO of greytHR.

Mark Beith, Partner and Shashwat Shukla, Vice President at Apax Digital commented: “Small and mid-sized companies are pillars of the economy but have been underserved by legacy payroll and HCM solutions. greytHR enables businesses to save time and money by moving from complex and error-prone manual work to an automated and accurate next-gen solution with a mobile-first interface that delights employees. Drawing on our experience in the sector from previous Apax Fund investments, such as Paycor and Zellis, and having tracked the company for over two years, we are thrilled to partner with Girish, Sayeed and their team to take greytHR to new peaks.”

Anurag Sud, Managing Director at Apax, added: “greytHR represents the third investment by the Apax Funds, after Azentio and IBS Software, in the Indian software sector. The investment in greytHR is a classic example of the high-quality technology businesses the Apax Funds look to back in India.”

“At my previous firm, MegaDelta Capital, we took an unconventional view in backing greytHR, betting on Girish and Sayeed’s bold vision to disrupt India’s vast and underserved mid-sized companies with cloud-native HR solutions. Under their exceptional leadership, the company has executed with remarkable efficiency, becoming India’s undisputed market leader. As a long-standing board member, I am grateful for the privilege of being their partner on this journey. Now as greytHR embarks on its next exciting phase with Apax, I wish the team continued success and a spectacular journey ahead, filled with stellar achievements.” stated Tarun Sharma, outgoing Board member.

Bala Deshpande, Managing Director at MegaDelta added: “MegaDelta identified the potential of Indian SaaS at the right time and partnered with greytHR among others. The entrepreneurs Girish and Sayeed have a unique blend of great tech skills and a deep understanding of the Indian market which proved to be a winning edge for investors. We at MegaDelta used our experience of scaling disruptive companies to the fullest in greytHR. Overall, a wonderful journey and investment.”

Karthik Reddy, Co-founder and Managing Partner at Blume Ventures added, “We are very happy for Girish, Sayeed and the entire greytHR team. Finding a deep believer and strategic partner in a world class firm like Apax is a testament to the solid foundation of the business, that’s primed for substantial growth. As their first investor, we enjoyed the gritty build out over a decade of partnership, and would’ve loved to partner for many more years if not for fund life limits. We are grateful for being partners in their journey and the handsome returns for Blume investors.”

As part of the transaction, Mark Beith and Shashwat Shukla will join greytHR’s board of directors. The transaction is expected to close in Q3 2024 subject to customary closing conditions.

Ambit acted as the exclusive financial advisor to greytHR.

Global media contact

Katarina Sallerfors

t: +44 20 7872 6300

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Equistone invests in loss adjusting and claims solutions group QuestGates

Equistone

Equistone Partners Europe (“Equistone”), one of Europe’s most active mid-market private equity investors, today announces its investment in QuestGates, the UK’s largest independent provider of complex loss adjusting and claims solutions.

QuestGates is headquartered in Birmingham and operates out of 12 offices across the UK and Ireland. Founded in 2003, the company has evolved over the past two decades from a niche loss adjusting provider into a professional services business providing multi-disciplinary loss adjusting, claims handling, surveying, engineering and legal services. QuestGates employs c.500 people and generated revenues of £41 million in the 2023/24 financial year.

QuestGates’ management team, led by CEO Chris Hall, will continue to lead the company and, alongside the wider team of QuestGates employees, remain majority shareholders in the business. Equistone’s significant minority investment in the company will support the continued delivery of QuestGates’ existing growth strategy. This will comprise both organic growth initiatives, such as further diversification into wider specialist claims services and development of the company’s proprietary suite of technology products, as well as continued acquisitive growth, building on the 18 M&A deals completed by QuestGates since 2003.

Equistone has invested over €1bn in 14 financial services businesses across Europe, with extensive experience across asset-light service-provider models. Dominic Geer and Tristan Manuel will join the board of QuestGates, complementing the management team’s expertise within the loss adjusting industry.

Tristan Manuel, Director at Equistone, said: “We are delighted to be partnering with Chris and his team to support the next chapter in QuestGates’ growth. The company has a highly experienced leadership team with strong networks and also boasts a track record of long-term organic growth and successful M&A activity. That combination presents a fantastic opportunity for Equistone to help QuestGates continue to evolve its service offering, grow its client base and consolidate a fragmented market.”

Dominic Geer, Senior Partner at Equistone, said: “Equistone has invested widely across the financial services sector and, in a complex market where subject-matter specialism is a real differentiator, we can offer the benefit of this experience to the companies we back. Insurance is a particularly attractive market currently. The non-cyclical nature of claims volumes, from which loss adjusting revenues are derived, means that businesses like QuestGates are resilient to the kind of economic and geopolitical shocks which currently face every business.”

Chris Hall, Chief Executive Officer of QuestGates, said: “Over the 20 years since incorporation, QuestGates has grown to be a leader in the UK loss adjusting and claims sector. We undertook an extensive review to identify a partner who could provide the capital and support that would allow us to maintain our growth and continue investing in innovation and service quality. With its long-term approach, track record of supporting UK financial services businesses and cultural alignment around our focus on our customers and staff, Equistone is the right fit as the partner to support the next phase of our development.”

Completion of the transaction is subject to the customary regulatory approvals. Dominic Geer, Tristan Manuel, Taha Hasan and Steve O’Hare led the transaction on Equistone’s behalf. Equistone was advised by Hines Associates, Deloitte, PwC and DLA Piper.

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IK Partners to invest in OCTIME Group

IK Partners

IK Partners (“IK”) is pleased to announce that the IK Partnership III (“IK PF III”) Fund has reached an agreement to acquire a minority stake in OCTIME Group (“OCTIME” or “the Group”), a leading French software developer of workforce management solutions. IK will acquire its stake from existing shareholders, including Group President Guillaume Berbinau, Andera Partners (“Andera”) and the management team, who will all be reinvesting. Guillaume Berbinau, President of OCTIME Group since 2008, remains the majority shareholder. He relies on Nicolas Michel-Vernet, Managing Director of the Group and his management team who see their position strengthened. Financial terms of the transaction are not disclosed.

Founded in 1999 and headquartered in Biron, France, OCTIME Group is a software company which provides a comprehensive range of solutions for time management and human resource planning. The Group supports over 7,000 small to medium-sized enterprises across a diverse range of sectors and countries in the digitalisation of their human resource processes.

OCTIME’s products enable organisations to track and manage workforce performance, including time, attendance, scheduling and task management. With an international presence and approximately 300 employees, the Group has a strong position in France and operates through subsidiaries in Spain, Portugal and Latin America. Since inception, the Company has demonstrated sustained organic growth and resilience, driven by the consistent acquisition of new clients and very low churn.

Alongside Andera and Guillaume, IK will work with OCTIME’s Managing Director Nicolas Michel-Vernet and his management team to continue building its leadership position in the time management space through the acquisition of new clients within relevant sub-sectors. The Group also plans to strengthen its international presence through the pursuit of an active buy-and-build strategy focused on European neighbouring countries.

Guillaume Berbinau, President of OCTIME Group, commented: “I am very proud of the trajectory of the OCTIME Group, which has managed to retain its DNA, expertise and commitment, while achieving exemplary growth. We owe this success to the strength of our team. I am convinced that the team at IK will be committed partners in supporting and accelerating our future growth plans.”

Magdalena Svensson, Partner at IK and Advisor to the IK PF III Fund, said: “Under the leadership of Guillaume, Nicolas and their team, OCTIME has established itself as a leading French software as a service developer in the time management and planning space. We look forward to working with Guillaume, the management team and Andera Partners in the next phase of the Group’s growth.”

David Robin, Partner at Andera, added: “The development driven by the management team in recent years has enabled the OCTIME Group to become a benchmark player in its market, offering best-in-class solutions to a loyal and diversified customer base. We are delighted and proud of the progress we have made alongside Guillaume, Nicolas and the entire management team.”

For further questions, please contact:

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

Andera Partners
Nicolas Delsert
Phone: + 33 6 22 67 71 17
n.delsert@anderapartners.com

About OCTIME Group

Based in Biron, France the OCTIME Group is an international HR solutions provider, with expertise in scheduling, working time management and replacements. For 25 years, the OCTIME Group has been helping companies of all sizes and in all sectors to digitise their human resources in order to create the conditions for fairness and well-being at work.

The OCTIME Group offers two SaaS solutions in France: OCTIME, its scheduling and time management solution for SMEs, with a turnkey version OCTIME Expresso for organisations with fewer than 200 employees, and STAFFELIO, its replacement and back-up management platform.

Present in all sectors of activity (retail, services, hotels, etc.), the Group is a leading player in the health and medical-social sector. The OCTIME Group manages 7,000 customers worldwide, representing more than 5.5 million employees.

The OCTIME Group is also present in Spain, Portugal and Latin America through its subsidiaries: Grupo SPEC, a leader in engineering solutions for time management and access control, and aTurnos, a specialist in constrained planning. For more information, visit octime.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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About Andera Partners

Created over 20 years ago, Andera Partners is a major player in private company investments in France and internationally, managing nearly €4 billion in investments. Based in Paris, with offices in Antwerp, Milan and Munich, Andera Partners is wholly owned by its teams, which count nearly 110 professionals. Learn more about Andera Partners at anderapartners.com

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Blue Earth Capital provides $ 16 million credit financing to Samunnati to improve access to finance for farmer collectives and agricultural enterprises in India

Blue Earth Capital

aar-Zug, Switzerland, June 11, 2024

Blue Earth Capital (“BlueEarth”), the specialist global impact investor, today announces it has completed a $ 16 million direct credit investment into Samunnati Financial Intermediation & Services Private Limited (“Samunnati” or “the Company”). Samunnati, India’s largest agri-enterprise, is an integrated platform offering financial and advisory services to underserved Indian farmer collectives and agricultural enterprises.

The investment from BlueEarth’s investment vehicles and partners will enable Samunnati to expand its financial support to a wider network of farmer collectives and agricultural enterprises across India.

Agriculture remains central to the Indian economy, accounting for over 16% of the country’s GDP in 2022, and employing 43% of the workforce.12 While agriculture financing and market access have improved substantially in recent years, finding adequate financing and suitable buyers remains challenging for smallholder farmers and participants in the agriculture sector.

Samunnati plays a crucial role in solving these problems by providing financing, market linkages, and advisory services to more than 6,000 farmer collectives and 3,500 agricultural enterprises across 28 states in India. It does this through a range of initiatives such as delivering academy programs to farming collectives and their promoters, developing commodity research reports, enabling capacity building, improving financial literacy, and embedding sustainable farming practices. This direct, targeted support helps collectives in the country scale their operations and apply more sustainable practices, working to unlock the full potential of Indian agriculture.

Amy Wang, Head of Private Credit at Blue Earth Capital, stated: “We’re delighted to start our partnership with Samunnati to help expand their loan book and enhance the adoption of climate-smart agricultural practices across their portfolio. BlueEarth is proud to support a first mover in agriculture value chain financing in India, and contribute to Samunnati’s overall mission to strengthen the agriculture ecosystem, benefitting millions of smallholder farmers in the country.”

Mr. Anil Kumar SG, Founder and CEO of Samunnati, expressed his gratitude, stating, “We deeply appreciate the commitment demonstrated by Blue Earth Capital, in providing the opportunity to create the impact through their credit financing. This credit facility will significantly bolster our resolve to amplify our efforts, empowering all stakeholders in the agricultural value chain and ultimately transforming the lives of smallholder farmers across India. We look forward to a successful partnership in delivering a sustainable value addition in India’s agricultural sector”.

-END-

Notes to editors

About Blue Earth Capital
Blue Earth Capital is a global, independent, specialist impact investor, headquartered in Switzerland, with operations in New York, London, and Konstanz. Blue Earth Capital seeks to address the world’s most pressing social and environmental challenges by delivering measurable impact alongside aiming for attractive and market-rate financial returns. The company operates dedicated private equity, private credit, and fund solutions. Blue Earth Capital is owned by the Blue Earth Foundation, a Stiftung (charity/trust) registered in Switzerland that focuses on deep impact to support initiatives and business ventures to help deliver a more equitable and sustainable future.

About Samunnati
India’s largest agri-enterprise, Samunnati is an open agri-network to unlock the trillion-dollar-plus potential of Indian agriculture with smallholder farmers at the center of it. Staying true to its name, Samunnati stands for collective growth & collective prosperity for the agri-ecosystem. Serving the entire value chain, Samunnati’s agri-commerce and agri-finance solutions enable affiliated Farmer Collectives and the larger ecosystem to be more efficient and productive. Samunnati has a presence in more than 100 agri-value chains spread over 28 states in India. Samunnati currently has access to 6500+ Farmer Collectives with a member base of over 8 million farmers and envisions impacting 1 in every 4 farming households through its network by 2027.

 

Media contact

Blue Earth Capital
Kekst CNC
Blueearthcapital@kekstcnc.com

Samunnati
Saravanan K
saravanan.k@samunnati.com

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HR Path & Ardian enter into exclusive negotiations to accelerate international growth

Ardian

Ardian, a world-leading private investment house, has entered into exclusive negotiations for a record-breaking fundraising to support the next phase of growth of HR Path, a leading human resources platform.

The historic fundraising, backed by the Expansion team at Ardian represent an important step in HR Path’s development, showing the investors’ confidence in the company’s business model, Management team and growth potential.

The funds raised will be used to accelerate the company’s international expansion and extend its value proposition.

HR Path is now recognized as a leader in human resources consulting, operating as a “one-stop HR shop” for customers across 22 countries. Its services range from HR strategy consulting (Advise) through implementation of all market-leading HR solutions (Implement) to payroll outsourcing (Run).

HR Path is firmly committed to transform customers’ human resources function thanks to innovation and support from its outstanding team. This prospective fundraising marks a significant step towards delivering the company’s long-term vision, consolidating its position in the global market and reinforcing its ability to offer high added value to its customers.

“We are thrilled to enter exclusive negotiations with Ardian to launch a record-breaking fundraising. This is a true partnership between us; we have chosen Ardian as much as they have chosen us. We are highly confident in this financial partner as Ardian has already supported our growth to date. Ardian’s local understanding combined with international reach will help us to further deploy our Advise, Implement and Run (AIR) offer in Europe and America.” François Boulet, President, HR Path

“We firmly believe in HR Path’s growth potential and look forward to supporting the company’s further expansion. Our joint initiative to launch a historic fundraising is a testimony to Ardian’s alignment with the company’s vision and management.” Arthur De Salins, Managing Director Expansion, Ardian

“We have been impressed by HR Path’s business model, management team and growth trajectory to date. We are convinced that this strategic collaboration will lead to exciting new opportunities.” Marie Arnaud-Battandier, Managing Director Expansion, Ardian

PARTIES TO THE TRANSACTION

  • ARDIAN

    • EXPANSION : ARTHUR DE SALINS, MARIE ARNAUD-BATTANDIER, STEVEN BARROIS, PIERRE PESLERBE, SIBYLLE BOURGEOIS
    • LEGAL ADVISOR: LATHAM & WATKINS (OLIVIER DU MOTTAY)
    • STRATEGIC DUE DILIGENCE: INDÉFI (JULIEN BERGER)
    • FINANCIAL DUE DILIGENCE: EIGHT ADVISORY (FLORENT GARNIER)
    • LEGAL, TAX AND SOCIAL DUE DILIGENCE: KPMG AVOCATS (XAVIER HOUARD)

ABOUT HR PATH

HR Path is a world leader in Human Resources, supporting companies for whom the human experience is essential to their digital transformation. Its 3 business lines: Advise, Implement & Run, contribute to its customers’ HR performance.
Founded in Paris in 2001, HR Path’s workforce of 1,800 talents advises, integrates and operates in 22 countries for more than 3,000 customers. It currently generates sales of 215 million euros.

hr-path.com

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $164bn of assets on behalf of more than 1,600 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

PRESS CONTACTS

ARDIAN

HEADLAND

ardian@headlandconsultancy.com 

HR PATH

FABIENNE LATOUR

fabienne.latour@hr-path.com 

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Mentha sells Paradigma Group to Castik Capital

Mentha Capital

Mentha is selling its majority stake in paraDIGMA group to Castik Capital. paraDIGMA group, active in the field of employee health & wellbeing, has grown considerably in recent years in collaboration with Mentha, founder Rudo Vissers and the wider management team. Now the group will be owned by Castik Capital and will take the next step in the strategy and growth plan, under the leadership of the current management.

Through various companies, paraDIGMA group focuses on sustainable employability within organisations, by offering curative and preventive services aimed at the health, well-being, and job satisfaction of employees. The largest division of the group, De Arbodienst, adopts a progressive approach aiming towards prevention. The focus is on creating a healthy organizational culture and working on personal leadership with the objective to actively reduce absenteeism. In addition, it offers related services such as vitality policy, reintegration issues, psychological or physical guidance and training and development. All with the common goal: improved health, more job satisfaction and enthusiasm and less absenteeism in the Dutch working population.

The collaboration with Mentha started in 2020 and resulted in a professionalization and growth surge for the organization. The number of employees has quadrupled, and national coverage has been achieved through an office network with nine locations spread across the Netherlands. In addition to strong growth through expansion of the organization and attracting new customers, various acquisitions have expanded the service offering of the paraDIGMA group. Now is the time to look ahead to the next phase, including exploring opportunities abroad.

Barend Rutten of Mentha comments: “It was a great pleasure to work together with Rudo Vissers, Peter Kruissen, the wider management team and all the talented employees. We have worked extremely hard over the past four years to build the organization into what it is today: a sizable, unique player in the Netherlands. We now confidently transfer the organization to Castik Capital, the right partner for paraDIGMA group. We wish Castik and paraDIGMA group all the best for the future.”

Peter Kruissen, CEO paraDIGMA group adds: “Together with Mentha, we have grown rapidly in the past few years and taken significant steps in professionalisation. Now it is time for the next phasestep. I am confident that we will achieve this together with Castik Capital.”

The sale is subject to approval from the Dutch Healthcare Authority (NZa) and the Dutch Authority for Consumers and Markets (ACM).

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