IK Partners (“IK”) is pleased to announce that the IK Small Cap III (“IK SC III”) Fund has invested in Qconcepts (“the Company”), a leading audit-focused specialist in the Netherlands. IK acquired its stake from the Company’s founding partners who have significantly reinvested alongside IK. Financial terms of the transaction are not disclosed.

Headquartered in ‘s-Hertogenbosch, the Netherlands, Qconcepts was founded in 2009 by four former PwC colleagues and has since grown to become the leading audit-focused firm catering to the needs of medium-sized enterprises in the region. It operates across a broad range of sectors, including the Private, Healthcare, Housing and Non-Profit sectors, benefiting from a diverse and loyal client base.

Qconcepts has 140 employees who are based across six Dutch offices in ‘s-Hertogenbosch, Rotterdam, Sittard, Arnhem, Amsterdam, Enschede and an office in Malaga, Spain.

Under the leadership of its founding partners, the Company has delivered consistent organic growth. With the support of IK, it hopes to continue investing in the expansion and development of its team, while focusing on new client acquisition and capturing the increased market potential from mandatory ESG audits for large private companies. This follows on from the implementation of the Corporate Sustainability Reporting Directive in 2024.

Cor Pijnenburg, Co-Founding Partner at Qconcepts, said: “We are thrilled to be partnering with IK as we feel that its significant experience in the Financial Services sector, underpinned by its investments in Aspia, Yellow Hive and Acture Group will help us realise our ambitions. With a well-established track record in supporting fast-growing businesses like ours, we feel that they are the ideal partner for us. We look forward to working with the team at IK to continue nurturing a dynamic environment for our employees and are excited to see where this partnership will take us.”

Sander van Vreumingen, Partner at IK Partners and Advisor to the IK SC III Fund, said: “This is an exciting investment for the IK Small Cap strategy in the Benelux region, with a Company that has established itself as a market-leading audit-focused player in the Netherlands. We look forward to utilising our considerable resources and expertise to facilitate the growth of Qconcepts by nurturing its seasoned team and identifying strategic acquisition targets that align with the Company’s values and culture.”

For further questions, please contact:

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

Qconcepts
Carlijn Simons-IJzermans
Phone: +31 (0) 6471 35 170
carlijn.ijzermans@qconcepts.nl

IK Partners (“IK”) is pleased to announce that the IK Small Cap III (“IK SC III”) Fund has signed an agreement to invest in BIOBank (“the Company”), a leading manufacturer and distributor of bone allografts for orthopaedic, spine, dental and cranio-maxillofacial (“CMF”) surgery. IK is acquiring a majority stake from Verto Growth (“Verto”), Capital Croissance and the management team, who will all be reinvesting.  Financial terms of the transaction are not disclosed.

Founded in 1999 and headquartered in Lieusaint, France, BIOBank is a leading human tissue bank whose speciality lies in preparing and distributing bone allografts for orthopaedic, spinal, dental and CMF surgeries. Taken from another individual’s tissues, bone allografts are used to repair and replace damaged or diseased bone tissues with the aim of providing a structure for new ones to grow. The Company is one of only three private processing tissue banks in France to be approved by the French national drug safety agency, ANSM. As a result, BIOBank commands more than 50% market share in France, in what is a growing sector year-on-year.

BIOBank has a broad product portfolio and possesses the ability to provide bone allografts on a multi-country basis, thus occupying a unique position in the market. This is further strengthened by its development and use of Supercrit®, a proprietary high-performance industrial process that leverages properties of supercritical CO₂, a non-toxic fluid that helps to preserve the bone’s mineral structure and characteristics.

With approximately 50 employees, BIOBank serves 1,700 customers in France and addresses eight additional international markets, both directly through its own distributor in Switzerland and indirectly through a network of third-party distributors in other geographies. The Company has a presence across the entire value chain; from collecting bone tissue from more than 160 healthcare institutions it partners with, to transformation and then distribution.

Under the existing management and the backing of Verto and Capital Croissance, BIOBank has experienced significant growth. In partnership with IK and with the continued support of its existing sponsors, the Company wishes to pursue further market share gain in France through the reinforcement of its distribution network and development of new products. In addition, it is looking to accelerate organic international expansion and pursue inorganic growth through the execution of a selective buy-and-build strategy.

Alexandre Tepas, CEO of BIOBank, said: “We are very much looking forward to teaming up with IK’s highly experienced team, alongside our existing investor base. Their focus on international platform expansion and proven track record in the European Healthcare sector will be crucial to our continued growth as we pursue new markets and product development. We would like to thank Verto and Capital Croissance for their invaluable support thus far and look forward to embarking on this new chapter.”

Morgane Bouhenic, Partner at IK and Advisor to the IK SC III Fund, commented: “Alexandre and the team at BIOBank have established the Company as a leading player in the French bone allograft market. We are confident that with the right buy-and-build acquisition targets and continued innovation on the product side, BIOBank can successfully reinforce its leadership in France, expand into other European markets and continue to provide favourable outcomes for patients requiring these crucial surgeries.”

Antoine Dary, Partner at Verto, said: “We would like to congratulate Patrick Joucla and Alexandre Tepas, as well as all their team on this exciting next step for BIOBank which rewards a successfully executed growth and innovation strategy over the past five years. It has been a pleasure working with the team and we are confident that the Company is in a strong position to continue its ambitious growth trajectory in France and internationally. We are delighted at the prospect of a continued partnership with them and would like to take this opportunity to welcome IK on board.”

Julie Masson, Partner at Capital Croissance, added: “It has been an incredibly rewarding 10 years working with the team at BIOBank, alongside Verto and other stakeholders to firmly establish the business as a leading player in the preparation of bone allografts in France. We are delighted to continue supporting BIOBank in this new crucial step of its development alongside its new investors, IK.”

For further questions, please contact:

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

Verto Growth
Antoine Dary
Phone: +33 624 83 97 58
antoine.dary@vertogrowth.com

Thomas Fort
Phone: +33 7 68 69 20 25
thomas.fort@vertogrowth.com

Capital Croissance
Julie Masson
Phone: +33 6 79 45 73 94
julie.masson@capitalcroissance.fr

IK Partners (“IK”) is pleased to announce that the IK Small Cap II (“IK SC II”) Fund has successfully closed its divestment of Yellow Hive (“the Company”), to a newly formed fund vehicle IK Strategic Opportunities I (“IK SO I”) Fund. Representing IK’s first continuation fund, the IK SO I Fund will be managed by IK and the transaction was led by TPG GP Solutions, AlpInvest and Pantheon. This transaction will allow IK, as well as the Yellow Hive founders and management team, to continue supporting the business over its next ownership cycle, with the benefit of fresh capital to execute on an attractive pipeline of opportunities.

Founded in 2011, Yellow Hive (formerly You Sure) is a leading Dutch insurance distribution platform with active broker and managing general agent capabilities, serving both small and medium-sized enterprises and consumers. Since IK’s investment in November 2020, the Company has grown considerably, driven by strong organic growth and a track record of accretive M&A. Today, Yellow Hive covers all common and select specialist risks, with access to both the Dutch and International insurance markets.

The sale marks another successful exit from the IK SC II Fund, its ninth realisation and provides investors with liquidity at an attractive return or the option to roll into the new vehicle to participate in Yellow Hive’s future growth.

Following a competitive auction process, IK SO I Fund closed at €505 million of new capital commitments to fund the purchase of Yellow Hive from IK SC II Fund, including follow-on capital to support the continued growth of the Company. TPG GP Solutions, AlpInvest and Pantheon acted as co-lead investors for the transaction, alongside a number of existing IK SC II Fund investors who will also invest in IK SO I Fund.

Ger Knikman, CEO of Yellow Hive, said: “IK has been a great partner over the last few years, supporting us in the successful execution of our ambitious strategy. Yellow Hive’s integrated platform has a strong tailwind and we wanted to continue to benefit from further consolidation of the market. The new commitment from IK SO I Fund will allow us to further strengthen the business both in the Netherlands and outside.” 

Sander van Vreumingen, Partner at IK and Advisor to the IK SC II and IK SO I funds, said: “Yellow Hive has grown substantially over the past few years. This has been achieved both organically and through the execution of a selective M&A strategy, transforming the Company into one of the top 10 insurance distribution platforms in the Netherlands. By divesting the Company from the IK SC II Fund and reinvesting from the newly formed IK SO I Fund, the team at IK will be able to offer further support to accomplish the full potential plan, which includes expanding internationally and continuing to collaborate with a successful and ambitious team. During the exit process, we experienced strong demand for IK SO I Fund which underpins the quality of the Company.”

For further questions, please contact:

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

A-SAFE (“the Company”) and IK Partners (“IK”) are pleased to announce that the IK Partnership II (“IK PF II”) Fund has acquired a minority stake in the Company. A-SAFE is a global leader in the design, manufacture and distribution of industrial polymer safety barrier systems. IK acquired its stake from the Smith family who remain significantly invested. This is the final investment from the IK PF II Fund, which is now fully committed. Financial terms of the transaction are not disclosed.

Founded in 1984 and headquartered in Yorkshire, United Kingdom, A-SAFE produces a diverse range of polymer-based products which are deployed in factories and warehouses across the world to safeguard both people and assets from collisions with vehicles such as forklifts. The Company has over 700 employees, with over 80 individuals committed to research and development.

As a founder owned and managed business, A-SAFE has achieved significant organic growth and today, serves more than 6,000 customers in over 50 countries. Its diversified customer base comprises some of the world’s largest businesses, including Coca-Cola, UPS and Amazon. With the aim of further strengthening its leadership position in the industrial polymer space globally, the Company has decided to form a partnership with IK.

With the support of IK and its dedicated Partnership Fund, which focuses on minority investments in established fast-growing entrepreneurial businesses, A-SAFE is poised for further growth. Led by James and Luke Smith, the management team is delighted to partner with IK. Together, they aim to unlock growth opportunities and drive innovation, further redefining industry standards.

James and Luke Smith, Co-CEOs at A-SAFE, stated: “We are pleased to be partnering with IK. This is an exciting opportunity for us as we look to fortify our leading position in the market, while simultaneously expanding our global reach, enhancing our product offering and driving greater value for our customers. With IK’s expertise and resources, we are confident that the Company will go from strength-to-strength and we look forward to working with Thomas and his team.”

Thomas Grob, Partner at IK and Advisor to the IK Partnership II Fund, added: “A-SAFE’s expansion into new markets and product segments, alongside its commitment to innovation, has firmly positioned it as an industry leader in workplace safety, protection and efficiency systems. The Company’s ability to anticipate market needs, coupled with its relentless pursuit of product excellence, has garnered our utmost confidence in the management team and its ability to drive positive action. We look forward to working with James, Luke and their team over the next few years.”

For further questions, please contact:

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

IK Partners (“IK”) is pleased to announce that the IK VIII Fund has signed an agreement to sell its stake in Eres Group (“Eres” or “the Group”), a leading French financial technology player in the employee profit-sharing and retirement scheme markets, to Eurazeo. Financial terms of the transaction are not disclosed.

Established in 2005 and headquartered in Paris, Eres is a leading French independent player in the advisory, structuring, asset management and distribution of employee profit sharing plans (PEE, PERECO), retirement schemes (PER) and employee shareholding plans. The Group distributes its products through a network of more than 6,600 distributors (wealth management advisors, insurance brokers and accountants) to address the needs of both mid-sized and large French companies. 

With the support of IK since 2019, the management team has: improved operational efficiency through strategic headcount growth; strengthened its commercial team for better distribution of Eres products through its extensive network; achieved inorganic growth with a series of successful acquisitions; and digitised its product offering. Eres has grown its assets under management to €6.7 billion, at a rate of 23% per annum.

Mathieu Chauvin, CEO of Eres, said: “The Eurazeo DNA, focused on culture, agility and growth ambitions, resonates strongly with Eres values, making Eurazeo a clear partner of choice for our next stage of growth. We are excited to partner with them and leverage their deep sector expertise and transformational growth experience. We also want to thank the team at IK for their outstanding support over the last few years.”

Rémi Buttiaux, Managing Partner at IK Partners and Advisor to the IK VIII Fund, said: ““Eres has almost tripled in size during our five-year partnership with them. Through operational improvement initiatives, significant investment in its people, digitalisation of the product offering and add-on acquisitions, the Group has cemented its position as a leading player in the French fintech market. We wish Mathieu, his team and their new owners every success in the next stage of the Group’s development.” Completion of the transaction is subject to legal and regulatory approvals.

For further questions, please contact:

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

IK Partners (“IK”) is pleased to announce that the IK Small Cap III (“IK SC III”) Fund has signed
an agreement to acquire Checkmate Fire (“Checkmate” or “the Company”), the UK’s largest
passive fire protection specialist, from YFM Equity Partners (“YFM”). IK is making its first UK investment from the Fund’s dedicated pool of Development Capital. The existing management
team will be reinvesting alongside IK. Financial terms of the transaction are not disclosed.

Established in 1989 and headquartered in West Yorkshire, Checkmate provides a comprehensive range of passive fire protection services to organisations across the Healthcare, Education, Government, Social Housing and Commercial sectors. The Company inspects, installs, remediates and maintains passive fire systems and also provides installation and maintenance of active fire systems.

Checkmate operates across the UK and has over 200 employees. The Company is responsible for maintaining passive fire systems in around 2,000 buildings nationally to ensure compliance with increasingly stringent regulations, carrying out over 30,000 fire door remediations or replacements per year. The focus is on maintaining fire doors rather than replacing them; an approach that aligns with the Company’s commitment to strong environmental, social and governance practices across the business.

Since YFM’s investment and under the existing management team, Checkmate has scaled rapidly, expanding its service offering and supporting more customers in managing their passive fire systems through multi-year contracts. In partnership with IK, Checkmate will look to further develop its passive fire offering, particularly its inspections division, in a market with compelling long-term growth dynamics. The Company will also continue to invest in its people and technology to enhance operational efficiency, while also executing a targeted M&A strategy.

Completion of the transaction is subject to regulatory approvals.

John Lewthwaite, CEO at Checkmate, said: “We are very much looking forward to working with IK after a successful partnership with YFM. IK’s track record of supporting businesses in the fire protection market, combined with our position as UK’s leading passive fire specialist, means that we are best placed to drive future growth in a market with attractive dynamics. We would like to take this opportunity to thank YFM for all their support and guidance over the last five years.”

Simon May, Partner at IK and Advisor to the IK SC III Fund, added: “This is an exciting first investment for the IK Development Capital strategy in the UK. Under the stewardship of John and his team, Checkmate has established itself as a high-quality provider in a rapidly growing and increasingly regulated market. We have been impressed with the Company’s journey to date and see plenty of opportunities for continued growth. We look forward to working with the team at Checkmate and leveraging the resources and expertise of the wider IK platform to deliver an ambitious strategy.”

Steve Harrison, Partner at YFM Equity Partners, commented: “It has been an absolute pleasure working with John and the entire team at Checkmate since we first invested in 2018. The business has seen rapid growth and development during this period, establishing itself as the leading player in the UK passive fire protection market. We wish Checkmate the best of luck for the future with the support of IK.”

For further questions, please contact:

Checkmate Fire
Ian Turpin
Phone: +44 7841 443948
info@checkmatefire.com

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

YFM Equity Partners
Viktoria Harrison
Phone: +44 7716 097 774
viktoria.harrison@yfmep.com