Tag Archives: Services

Hostmaker raises $15M to fund global expansion

DN Capital

London’s number one Airbnb management service receives backing from existing investors DN Capital, Ventech and DSGCP, joined by Sansiri and Gaw Capital.

Hostmaker, London’s number one Airbnb management company, has announced $15M in Series B funding, taking the total raised since inception in 2014 to $25M. The new funding round is led by Sansiri, one of Thailand’s largest premium real estate developers and Gaw Capital – Hong Kong based global hospitality real estate investor. Hostmaker’s existing lead investors – DN Capital, Ventech and DSGCP, all backed the venture with an investment in the round.

Founded in 2014 by Airbnb ‘Superhost’ and entrepreneur Nakul Sharma, Hostmaker is a technology-driven hospitality management company that takes the hassle out of managing short-term rentals for homeowners. It offers a consistent, high-quality service, including housekeeping from five-star hotel trained staff, professional photography, daily pricing reviews to maximise earnings, guest relations and vetting, and interior design. It also facilitates property profile and listing across platforms including Airbnb, TripAdvisor and Booking.com.

As the largest VC-backed homestay hospitality management team in Europe, Hostmaker has so far carried out over 150,000 services across Europe, growing at a rate of 400 per cent year-on-year. It currently operates in London, Paris, Rome and Barcelona – four of the largest global markets for Airbnb.

The new funding round comes close on the heels of a Series A round of £5M that was raised just earlier this year. This new round of investment will support Hostmaker’s continued technology development in proprietary pricing and operations applications as well as growth and expansion beyond Europe, in particular building a presence in Asia to support property investors there.

On the investment, Nakul Sharma, Hostmaker founder and CEO, said:
“Having raised an investment round just a few months ago, we were very much focusing on delivering a great service to our customers and establishing our leading position. However, we’ve always welcomed a conversation with strategic investors who believe in our global vision of creating a new experiential brand in the fast-growing homestay category. Sansiri approached us with an exciting proposition to take our brand to Asia which was always on our roadmap. Along with Gaw Capital’s Asian roots and global footprint, it felt like the right moment to accelerate our expansion in the East.”

Nenad Marovac, Managing Partner from DN Capital, commented: “‘We are very excited to be backing the team at Hostmaker on this new phase of growth as the business consolidates its position as the leading European homestay hospitality services company and begins to explore exciting opportunities in Asia.”

Srettha Thavisin, from lead investor Sansiri said:
“The home sharing market is at an all-time high with 150M people using Airbnb globally. Property management businesses that support the home sharing industry are growing at a similar speed and we are excited to work with Hostmaker, who are leading the charge in Europe by providing the highest quality service out there.”

About Hostmaker
Launched in July 2014, Hostmaker is a technology-driven hospitality management company that takes the hassle out of managing short-term rentals for homeowners by offering a consistent, high-quality service. Growing at a rate of 400% YOY, Hostmaker is currently operational in London, Paris, Rome and Barcelona – four of the largest global markets for Airbnb and supports over 1,000 homeowners. The founder, Nakul Sharma has worked at the world’s largest international hotel chains, including Starwood Hotels and InterContinental Hotels Group. Nakul is also an avid Airbnb host and traveller.

Hostmaker’s deep industry and market expertise alongside proprietary pricing technology, in-house interior design and 5-star hotel trained operations team help uplift income for homeowners by as much as 50%. Hostmaker has been named #20 among the top 100 UK start-ups and one of Forbes’ 5 fastest-growing British businesses to watch, alongside winning the Serviced Apartment Award for best short-term rental operator in 2017. https://hostmaker.com/

About DN Capital
DN Capital is a leading early stage and growth capital investor focused on Seed, Series A and select series B investments in marketplaces, digital health, fintech, SaaS, digital media, e-commerce, mobile applications and software companies. The firm was founded in 2000 and has operations in London, Berlin and Silicon Valley. DN Capital’s previous funds are top performers and the firm is one of the lead investors in companies such as Endeca (sold to Oracle), Shazam (one of the world’s leading mobile apps), Auto1 (world’s largest used car marketplace), Purplebricks (IPO London) and Quandoo (sold to Recruit). The professionals at DN Capital bring over 75 years of private equity & venture capital experience to their investments, and actively work with portfolio companies to steward their growth through the various stages of development. Additional information about the firm and its portfolio companies can be found at http://www.dncapital.com.

For further information
Kanira Shah
Investor Relations
DN Capital
Kanira@dncapital.com

 

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IK Investment Partners acquires Debitor Inkasso from BurdaDirect

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap I Fund has reached an agreement with Neue Verlagsgesellschaft mbH, a subsidiary of BurdaDirect, to acquire Debitor-Inkasso GmbH (“Debitor Inkasso” or “the Company”), a German provider of mass debt collection services, focused on recovering overdue claims and debts on behalf of its customers. 

Founded in 1977, Debitor Inkasso offers a broad range of tailor-made debt collection services to its customers, primarily in the e-commerce/social media, insurance and publishing industries. With a highly automated and continuously refined collection process as well as a broad communication platform (including modern communication channels such as email, WhatsApp and SMS) Debitor Inkasso acts as a link between its customers and their debtors, and is renowned as a reliable and trustworthy partner in the sector.

“With their extensive expertise and strong track record, IK is the ideal partner to support Debitor Inkasso in the next stage of our development. The team shares our strategic vision and growth aspirations, and the partnership will benefit our customers and employees as we strengthen our position as a leader in innovative and flexible debt collection services. BurdaDirect has been a reliable and trustworthy partner over the past years. We would like to thank them for this partnership, which contributed significantly to our success, and we look forward to continuing our business relationship with them as our customer,” said Andreas Stock, CEO of Debitor Inkasso.

“Debitor Inkasso has established a strong positioning in its segment, combining future-oriented solutions with high customer satisfaction. The Company operates in a market characterised by a continuous trend towards business process outsourcing and with strong regulatory requirements. Together with the experienced management team we look forward to supporting Debitor Inkasso’s further development and growth,” said Anders Petersson, Partner at IK Investment Partners and advisor to the IK Small Cap I Fund.

Financial terms of the transaction are not disclosed. Completion of the transaction is subject to merger control approvals.

For further questions, please contact: 

IK Investment Partners
Anders Petersson, Partner
Phone: +49 40 369 8850

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

Debitor Inkasso 
Andreas Stock, CEO
Phone: +49 451 200 93 99
stock@debitor.de

About Debitor Inkasso
Debitor Inkasso covers the whole spectrum of debt collection services and is a competent outsourcing partner with future-oriented and high-tech solutions, looking back at a track record of almost 40 years in Germany. The Company specializes on mass market B2C debt collection across all industries with a focus on insurance, publishing and e-commerce/social media sectors. For more information, visit www.debitor.de

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 110 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

IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap I Fund has reached an agreement with Neue Verlagsgesellschaft mbH, a subsidiary of BurdaDirect, to acquire Debitor-Inkasso GmbH (“Debitor Inkasso” or “the Company”), a German provider of mass debt collection services, focused on recovering overdue claims and debts on behalf of its customers. 

Founded in 1977, Debitor Inkasso offers a broad range of tailor-made debt collection services to its customers, primarily in the e-commerce/social media, insurance and publishing industries. With a highly automated and continuously refined collection process as well as a broad communication platform (including modern communication channels such as email, WhatsApp and SMS) Debitor Inkasso acts as a link between its customers and their debtors, and is renowned as a reliable and trustworthy partner in the sector.

“With their extensive expertise and strong track record, IK is the ideal partner to support Debitor Inkasso in the next stage of our development. The team shares our strategic vision and growth aspirations, and the partnership will benefit our customers and employees as we strengthen our position as a leader in innovative and flexible debt collection services. BurdaDirect has been a reliable and trustworthy partner over the past years. We would like to thank them for this partnership, which contributed significantly to our success, and we look forward to continuing our business relationship with them as our customer,” said Andreas Stock, CEO of Debitor Inkasso.

“Debitor Inkasso has established a strong positioning in its segment, combining future-oriented solutions with high customer satisfaction. The Company operates in a market characterised by a continuous trend towards business process outsourcing and with strong regulatory requirements. Together with the experienced management team we look forward to supporting Debitor Inkasso’s further development and growth,” said Anders Petersson, Partner at IK Investment Partners and advisor to the IK Small Cap I Fund.

Financial terms of the transaction are not disclosed. Completion of the transaction is subject to merger control approvals.

For further questions, please contact: 

IK Investment Partners
Anders Petersson, Partner
Phone: +49 40 369 8850

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

Debitor Inkasso 
Andreas Stock, CEO
Phone: +49 451 200 93 99
stock@debitor.de

About Debitor Inkasso
Debitor Inkasso covers the whole spectrum of debt collection services and is a competent outsourcing partner with future-oriented and high-tech solutions, looking back at a track record of almost 40 years in Germany. The Company specializes on mass market B2C debt collection across all industries with a focus on insurance, publishing and e-commerce/social media sectors. For more information, visit www.debitor.de

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 110 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

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DH Private Equity Partners announces sale of TMF Group to CVC

DH Private Equity Partners, the European private equity firm, has today announced that its fund, DH V, and other shareholders have agreed to sell their entire stake in TMF Group, a leading provider of high value business services to organisations globally, to funds advised by CVC Capital Partners for €1.75bn.  The transaction is expected to close in the first half of 2018 subject to regulatory approvals.

TMF Group was formed by the June 2011 merger of TMF and Equity Trust.  DH Private Equity Partners acquired TMF in October 2008 and subsequently completed the transformational acquisition of Equity Trust in January 2011.  The merger delivered significant cost synergies and generated cross selling opportunities to support organic growth.

Historically, the majority of TMF’s revenues were generated in Europe, where the company had a long-established, strongly competitive position.  During DH Private Equity Partners’ ownership, through a combination of new greenfield sites and 32 acquisitions, TMF Group has built out its presence in other parts of the world and, as a result, now offers a unique global platform.  By the end of 2016, revenue and EBITDA had grown by 148% and 131% respectively since DH Private Equity Partners acquired the business in 2008.

The sale of DH V’s stake in TMF Group represents the seventh successful exit from the fund, with one further asset remaining before the fund portfolio is fully realised.

Commenting on the transaction Dick Hanson, the Senior Partner of DH Private Equity Partners and Chairman of TMF Group, said: “We are very proud to have supported TMF as it has developed into a truly global integrated services platform supporting multinational and local organisations.  In our time of ownership, we have worked closely with the company, supporting its acquisition strategy and helping to grow its revenues, profits, international footprint and employee base.  We have had a very strong partnership with the management team, led by Frederik van Tuyll, and wish the company well under new owners.”

Frederik van Tuyll, CEO of TMF Group, added: “We have enjoyed an outstanding relationship with DH Private Equity Partners which, since acquiring us, has made a significant contribution to our growth. We have a unique global platform, exceptional talent, and a diverse client base that gives us every confidence that the coming years will be as successful as those previously.”

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Major shareholder enters into a margin loan. Nordic Capital remains committed to Intrum Justitia AB (publ)

Nordic Capital

Cidron 1748 S.à r.l. (the “Shareholder”), the company through which Nordic Capital Fund VIII (“Nordic Capital”) holds shares in Intrum Justitia AB (publ) (the “Company” or “Intrum”), and the largest shareholder in the Company, has today entered into a three-year EUR 518 million margin loan (the “Margin Loan”) secured against shares held in Intrum by the Shareholder. The Shareholder will not sell any shares in Intrum in connection with entering into the Margin Loan.

“Nordic Capital sees significant value creation potential for Intrum and wants to remain invested. This way the Fund can return some money to its investors while keeping shares in the Company. Nordic Capital firmly believes in the benefits of the combination of Lindorff and Intrum, and the creation of an industry leading CMS player.” says Kristoffer Melinder, Managing Partner of NC Advisory AB, advisor to the Nordic Capital Funds.

The loan arrangement will adhere to all conditions from the merger agreement between Lindorff and Intrum Justitia AB and the Margin Loan has been provided by reputable third party financial institutions on conditions that are customary for this kind of instrument.

Press contact

Katarina Janerud, Communications Manager,
NC Advisory AB, advisor to the Nordic Capital Funds
Tel: +46 8 440 50 69
e-mail: katarina.janerud@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 entities, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com

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EURAZEO succesfully completes the sale of part of its ELIS shares

Eurazeo

Eurazeo, which has accompanied Elis since its initial investment in October 2007, today announces the
sale of a total of 10 million Elis shares by Eurazeo, directly and through its subsidiary Legendre Holding 27
SAS(“LH27”), and together with ECIP Elis Sarl. The disposal, representing 4.56% of
Elis’ share capital and 4.36% of Elis’ voting rights, was achieved at a price of €22.01 per share, for a total consideration of € 220 million, by way of an accelerated book building to institutional investors (the “
Placement”). The sale comprised 8,696, 854 Elis shares (i.e. 3.96% of Elis’ share capital) sold by
LH 27, 1,112,974 Elis shares (i.e. 0.51% of Elis’ share capital) sold by Eurazeo directly and 190,
172 Elis shares (i.e.0.09 of Elis’ share capital) sold by ECIP Elis Sarl.

Following completion of the Placement, LH27 hold s 6.30 % of Elis’ share capital nd 10.24 % of Elis’ voting rights.In economic terms, Eurazeo holds via LH27 an interest equivalent to 5.7% of Elis’ share capital, compared with 9.1 % prior to the Placement. Out of the three members of the Supervisory Board appointed on the proposal of Eurazeo and LH27, one will be stepping down in the coming months.

Marc Frappier, Managing Director of Eurazeo Capital, declared:

“Under the leadership of Xavier Martiré, Elis has been able to develop at an amazing pace with strong expansion outside of France. The Group has successfully accelerated its M&A strategy with recent acquisitions of Lavebras in Brazil,Indusal in Spain and the ongoing merger with Berendsen.

We strongly support the management team in this strategy which we believe will deliver material benefits for the Group and its shareholders in the future.”

 

This transaction generated net proceeds for Eurazeo of around €162 million.
Eurazeo realized a multiple of about 2.3 x its investment.
In accordance with market practices, a 90-day lock-up has been granted by LH 27 in respect of its remaining shareholding in Elis, subject to customary exceptions and waivers. BNP Paribas acted as Bookrunner in connection with the Placement. Rothschild acted as financial advisor to Eurazeo.
***

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, Asmodee, CIFA, CPK, Desigual, Elis, Europcar, Fintrax, Grape Hospitality, Les Petits Chaperons Rouges, Moncler, Neovia, Novacap, Sommet Education, Trader Interactive, and also SMEs such as Péters Surgical and lash Europe International, as well as start -ups such as Farfetch and Vestiaire Collective.
Eurazeo is listed on Euronext Paris.
ISIN: FR0000121121
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Bloomberg: RF FP
–
Reuters: EURA.PA

 

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EQT VI brings in minority partners to accelerate growth of Anticimex

eqt

  • EQT VI brings in blue chip investors such as AMF, AP6, Volito and Cubera in a 19% minority stake sale in Anticimex to accelerate growth
  • EQT VI remains majority owner and continues to support Anticimex in becoming the global leader in preventive pest control

EQT VI today announces the decision to bring in a small group of partners through a 19% minority stake sale in Anticimex (“the Company”), valuing the Company at an enterprise value of approximately EUR 2.3 billion. The minority partners will hold the same mix of instruments as EQT VI.

Since the acquisition in 2012, EQT VI has transformed Anticimex from being a Nordic services conglomerate into becoming a leading global pure play pest control business, completing over 100 acquisitions worldwide and introducing the disruptive digital solution Anticimex SMART. During the EQT VI ownership period, Anticimex has tripled revenues and more than quadrupled its operating earnings.

Headquartered in Sweden, Anticimex operates 142 branches in 17 countries across Europe, Asia-Pacific and the US. With the Company’s over 80 years of consecutive revenue increase and recent growth acceleration, EQT VI remains a committed owner with an industrial and long-term approach.

“EQT VI is pleased to welcome the new investors and we see them as strategic business partners. Anticimex will now continue its journey towards becoming the global leader in preventive pest control with further international expansion and investments in the next generation of digital pest control technologies. I see this as yet another great example of EQT’s “future-proving” strategies in action”, says Per Franzén, Partner at EQT Partners and Investment Advisor to EQT VI.

Jarl Dahlfors, CEO of Anticimex complements: “Anticimex has grown tremendously together with EQT VI and we see attractive opportunities to continue expanding our business. Both through organic and acquisitive growth, as well as continued margin improvements. The ambition is to have revenues of EUR 1 billion with 20% margin within a few years. This is well in line with the historical track record of more than 20% top-line growth annually and a margin uptick of roughly one percentage point per annum. We welcome our new partners and look forward to their support in realizing that goal.”

The transaction is expected to be completed during the fourth quarter of 2017.

Contacts
Per Franzén, Partner at EQT Partners and Investment Advisor to EQT VI, +46 8 506 55 448
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 across 24 funds. EQT funds have 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.

More info: www.eqtpartners.com

About Anticimex
Anticimex is a leading global specialist in preventive pest control with operations in 17 counties across Europe, Asia-Pacific and the US with headquarters in Stockholm, Sweden. With its approximately 4,500 employees, Anticimex serves more than 3 million customers across the globe and offers a broad range of preventive pest control solutions, including the digital solution Anticimex SMART and pest insurance.

More info: www.anticimex.com

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Bregal Unternehmerkapital acquires stake in Rehms Building Technology

Bregal unternehmerkapital

Bregal Unternehmerkapital is the new majority owner of Rehms Building Technology Holding GmbH. The group, headquartered in Borken/North Rhine-Westphalia, is a leading full-service provider of technical building services and is aiming to continue its significant growth dynamic of recent years.

In acquiring Rehms Building Technology (recently renamed from NRW Building Technology) from funds advised by Ufenau Capital Partners, Bregal has again broadened its portfolio to include a company with a decades-long tradition of family entrepreneurship in a highly attractive market that promises enormous future potential. With its eight group companies, including the well-established J. Rehms GmbH, the group focuses on heating, ventilation, air conditioning, sanitary installations and electrical systems as well as measurement and process control technology. It serves numerous public-sector, commercial and private customers. The market for hotel, industrial, residential and office structures is characterised by steadily increasing order volumes. With 600 employees, Rehms Building Technology stands for reliability, innovation and quality. The group is benefiting from, and actively shaping, growth trends in building renovation and remodelling, senior-friendly design as well as smart and green building technologies.

Bregal will continue to grow the company both organically and through strategic acquisitions as part of a committed, long-term partnership with Heinz-Josef Rehms (who continues to be a co-owner of the business) and the company’s management team. We are looking forward to the challenges ahead.

Press contact:

IRA WÜLFING KOMMUNIKATION
Dr. Reinhard Saller
Phone: +49 89 2000 30-30
bregal@wuelfing-kommunikation.de

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With $2.6M in funding, Gabi wants to ensure you always have the best insurance rate

Project A

With $2.6M in funding, Gabi wants to ensure you always have the best insurance rate “Something this important should not be so complex.” – Hanno Fichtner

Gabi, a San Francisco based insurance startup, has raised $2.6M in seed funding from A Capital, SV Angel, Project A and a group of angels. Gabi is a personal insurance platform that ensures customers always have the right coverage at the best price.

Gabi provides insurance shoppers with unprecedented visibility into rates, in a single place where they can compare all the major insurance companies’ rates and instantly get a quote without having to go to multiple sites and fill out forms. Moreover, Gabi’s quotes are completely unbiased, as they’re driven by technology rather than insurance agents focused on commissions.

Gabi’s powerful technology reviews and compares people’s current insurance rates to major insurer’s rates, then finds the right coverage at the best rate possible. At signup, customers link their car and home insurance accounts or send their policies to Gabi. Gabi then analyzes their current coverage and compares the rate with those of major insurance companies to find a better price for the same coverage.

“Our technology allows us to put the customer first again, simplify the process and save consumers a lot of money every year,” said Gabi co-founder and CPO Krzysztof Kujawa. “Our algorithm looks into the existing insurance policies of our customers and automatically checks for savings across the 20 biggest insurance companies,” explains Kujawa. “Customers no longer need to provide their detailed insurance information. By scanning existing insurance documents to create an insurance profile for each customer, Gabi saves the customer this tedious step.”

“Before Gabi, insurance customers typically had to fill out long forms, then get quotes from a handful of companies and make relatively uninformed decisions, never hearing back from their agent after they’ve purchased coverage,” says founder and CEO, Hanno Fichtner. Gabi is turning this model around by letting the technology do the tedious and time-consuming search for the best insurance, faster and with more transparency for customers than ever before.

The Gabi algorithm has already found savings of more than $460 per year on average for more than 60% of its customers. After the initial comparison at signup, Gabi constantly checks for better offers and functions as a digital insurance folder that allows customers to manage all insurance policies one place. As the customer’s life situation changes, e.g. purchase of a new car, moves, etc., Gabi adjusts its insurance searches accordingly.

Gabi is currently live in California, reviewing insurance for personal lines like auto, home, renters, umbrella and life. Gabi is also free, and customers can be sure to never receive spam or sales calls.

With the engineering team based in Lodz, Poland, and headquarters in San Francisco, the Gabi team consists of 12 people. Gabi was founded in 2016 by Hanno Fichtner, Krzysztof Kujawa, Vincenz Klemm and Pawel Olszewski.

About Gabi
Gabi Personal Insurance Agency, Inc. is an insurance platform that ensures customers always have the right coverage at the best price. Gabi has launched in CA in January 2017 and is backed by A Capital, Project A, SV Angel and a group of angels. It was founded in 2016 by Hanno Fichtner, Krzysztof Kujawa, Vincenz Klemm and Pawel Olszewski.

Contact
Hanno Fichtner, press@gabi.com

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DGI Logan acquires Hadco Services Inc. as part of its diversification strategy

ik-investment-partners

Supported by its shareholder the IK 2007 Fund, which is advised by IK Investment Partners (IK), Doedijns Group International (DGI), through its US subsidiary Logan Industries International Corporation (DGI Logan), has acquired Hadco Services Inc. (Hadco). Hadco is a specialised repair and service company based in Mobile, Alabama.

Diversification
DGI, headquartered in the Netherlands, is a leading supplier of hydraulic equipment and repair and maintenance services for a wide variety of industries. The acquisition of Hadco fits perfectly into DGI’s diversification strategy. Hadco has a strong presence in the Alabama steel region and the US dredging industry, two target markets for DGI. Hadco’s focus is on repair and (field) services for hydraulic cylinders, gearboxes, and pumps and further strengthens the repair and maintenance capacity of DGI.

Local service
The acquisition of the assets of Hadco follows the opening of DGI Logan’s Louisiana based Offshore Operations & Maintenance Services location in January 2017. The combination of the three USA based DGI Logan locations (Houston, New Iberia and Mobile) gives the company a strong local presence in the oil & gas, steel and dredging industry, enabling DGI Logan to service its customer base locally. In addition, the engineering support will complement Hadco’s repair skills and the scale of the combination will lead to a wider repair and maintenance solutions portfolio. Additionally the support of New Iberia and Houston will open up a higher tier level capacity of repairs to Hadco Services.

Founded in 2005, Hadco is currently owned by its founder, Bobby Hadley. He will remain at Hadco as the General Manager to provide continuity and stability for this business and current customers. “The link up with DGI Logan will allow us to further expand our hydraulic services and capacity, benefitting our existing customers. We are looking forward to collaborate with our new colleagues at DGI Logan,” said Hadley.

Frank Robben, CEO of DGI, said: “The acquisition of Hadco is the next logical step in our strategy of industry diversification and further develop of DGI’s footprint. We now have acquired a business that is highly respected in the steel and dredging industry, and claimed a presence in the strategically important Alabama region which is home to a large segment of the USA steel industry. Additionally, Hadco’s expertise in hydraulic repair and maintenance will reinforce our competitive advantage.”

IK Investment Partners commented: “This transaction is in line with our strategy to support DGI’s international expansion. The company further strengthened its position as a hydraulic market leader, providing engineering, design, manufacturing, repair and maintenance services for high demanding industries.”

Dean Carey, Technical Director at DGI Logan, is excited to start work with Hadco: “This move to join-up with Hadco has many benefits to both companies. It is the obvious next move, and we are extremely pleased to join forces with Bobby and his team. The integrity and loyalty Hadco shows when dealing with their customers and employees matches the way DGI Logan does business.”

For questions:

Doedijns Group International
Frank Robben, CEO
T: +31 (0)85 488 13 00

DGI Logan
Shayne Babich, CEO
T: +1 713 849 2979

About Hadco Services Inc.
Hadco Services Inc., founded in 2005, is a specialised provider of repair and maintenance services to the dredging and Alabama steel industry. In addition to offering an extensive range of repair and maintenance services for hydraulic equipment, like cylinders, gearboxes, and pumps, Hadco’s qualified service engineers are also certified to provide field services in accordance with the requirements of the dredging and steel industry. The success of Hadco has been established upon a solid reputation for quality services, dedicated project management and on-time delivery.

About DGI Logan
DGI Logan started in 2001 primarily as a hydraulic cylinder repair facility. The company used its extensive experience in hydraulic systems and engineering to expand its capability to providing hydraulic equipment solutions in other areas of the offshore industry. In November 2012, DGI Logan was acquired by Doedijns Group International. One of DGI’s core business goals was to further enhance their already established hydraulic division in Europe and to capitalize on the USA and global offshore market controlled by many of the USA suppliers. DGI Logan was a perfect fit in meeting this objective.

About Doedijns Group International
Celebrating over 140 years of technical innovation, DGI has developed market leading positions in hydraulics and controls. With our global facilities and our highly skilled work force we continue to create added value solutions for the oil & gas, maritime, high-end machine building and heavy industries. From initial design engineering, through to specification, manufacturing and commissioning, DGI is the global partner of choice for local service. For more information, please visit the DGI website: www.dgi-company.com

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3i announces sale of Mémora

3i announces sale of Mémora generating proceeds of £117 million

3i Group plc (“3i”), and funds managed by 3i, today announce the sale of Mémora, the leading Iberian funeral services company, to Ontario Teachers’ Pension Plan (“Ontario Teachers’”), Canada’s largest single-profession pension plan. Proceeds to 3i will be £117m. This compares to a valuation of £86m at 31 March 2017.

Mémora was founded in 2001 and is headquartered in Barcelona. It is the leading funeral services player in the Iberian market, with a total of 115 parlours, 24 crematoriums, 13 cemeteries and 91 retail outlets in the Iberian Peninsula. It has a leading position in Barcelona as well as in other regional markets in Spain and Portugal, and a strong foothold across its remaining markets. It offers a range of funeral services such as ceremonies, documentation support and dedicated family consultants.

3i invested in Mémora in 2008. Since then, the company has expanded through both acquisitions and organic growth. In 2011, Mémora increased its shareholding in Serveis Funeraris de Barcelona to 85%, thereby consolidating its leadership position in the region. In addition, multiple acquisitions have been completed across Spain and Portugal, including Agnus Dei in 2015. Early on, 3i supported the implementation of a comprehensive Corporate Governance programme, focused on developing the overall strategy. 3i also introduced Juan Jesús Domingo as CEO and Richard Golding, initially as Non-Executive Director and then as Chairman, to the Board.

Pablo Echart, Director at 3i Spain, commented:

“During our investment period, Mémora has cemented its leading market position in the provision of funeral services in Spain and Portugal. With 3i’s support, Mémora’s management team has built a differentiated robust business model to capture the growth potential in this market. I would like to thank CEO Juan Jesús Domingo and his team for their commitment, and I wish them well in the future”.

Juan Jesús Domingo, CEO of Mémora, added:

“3i has been an extremely supportive partner to Mémora. It has helped us to develop our commercial platform, including the design and launch of the Electium service, and to improve our customer-centric, high quality delivery model. We look forward to working with our new investor to further accelerate Mémora‘s growth.”

Jo Taylor, Senior Managing Director, International, of Ontario Teachers’, commented:

“Mémora presents a unique opportunity to invest in a sector we have extensive experience in and fits our investment mandate perfectly. By partnering with the market leader, we will build on Mémora’s strong business foundations, and grow its geographical footprint, while supporting the delivery of a best in class customer relations model. We look forward to working with management and the broader team on this exciting new chapter.”

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