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Portfolio Company News

2024-09-2
Portfolio Company News

Renta Acquires Caro Design

Renta Group Oy (“Renta Group” or “Renta”) acquires Caro Design Sp. z o.o. (“Caro Design” or “the Company”). Caro Design is a Polish site modules rental specialist serving construction and industrial customers in the south-eastern part of Poland. On a project basis the Company also does work outside Poland. The Company is headquartered in Brzezówka, has 8 employees across three depots and annual revenues of approximately PLN 12 million.

With the acquisition, Renta adds site modules to its product offering in Poland, which is a strategic step towards building a full-service offering in Poland. Caro Design is a growing company with strong profitability and a modern fleet comprising of c. 2,000 site modules. Renta’s objective, together with the management of Caro Design, is to continue to scale the operations geographically and to capture cross-selling synergies between the Company and Renta.

The acquisition was completed on 31 August 2024.

Kari Aulasmaa, CEO of Renta Group, said: 

“Through the acquisition, Renta takes another step forward in building a full range product offering in Poland. Caro Design is an excellent platform for Renta to launch the site modules operations in Poland given its sizeable and modern fleet and talented team of professionals. We would like to extend a warm welcome to the Caro Design team and look forward to working with them.”

Kazimierz Mikrut, President of the Management Board of Caro Design, said: 

“We are incredibly happy to partner with Renta, a company sharing our ambition for continued development of the business. With the support of Renta, a rental company with a nationwide presence and advanced digital solutions, Caro Design will have good prospects for continued growth and expansion of the business. We look forward to the future collaboration.”

Enquiries: ir@renta.com

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2024-08-28
Portfolio Company News

Christine Ehnström appointed new CEO at Advisense

Kristian Bentzer has decided to leave his role as CEO and Christine Ehnström, Head of Business Area Risk, Compliance and Finance, has been appointed new CEO as of November 1, 2024.

During the past year, Advisense has continued its growth journey towards becoming a leading European Governance, Risk and Compliance firm. Despite a challenging macroeconomic environment, Advisense has demonstrated remarkable resilience and delivered excellent results.

“We are very pleased to appoint Christine Ehnström as new CEO. She has more than 25 years’ experience in the financial sector, in leading roles as COO, Head of Legal and interim CEO and with her 6 years at Advisense as Head of Business Area Risk, Compliance and Finance, member of the Group Executive Committee and the group board of directors, she has an in-depth understanding of our business. Through her appointment, we will ensure a smooth transition and continuous focus on achieving Advisense’s goals,” says Bo Magnusson, Chairman of the board.

I am honoured and excited for this opportunity to lead Advisense with its great business and exceptional people. It has been a privilege to work alongside Kristian during the past years. I very much look forward to continuing the successful growth journey Advisense has had under Kristian’s leadership, together with our talented and passionate employees. With the strong position we have as GRC firm, in a market where our expertise will continue to be in high demand, we have great opportunities ahead,” says Christine Ehnström.

Kristian Bentzer joined Advisense in 2011 and has been CEO for eight years. Under his leadership, the company has grown from 80 to 450 employees while maintaining a strong profitability. Advisense is currently operating in 8 countries, and over the past year, the company has continued to grow its revenue significantly faster than the market, maintaining a profitability of around 20%.

We’ve achieved excellent profits over the last twelve months, and our employee satisfaction is high. The company is in a strong position, and we have tremendous opportunities ahead. It has been an incredibly rewarding journey, and now I feel I am ready for a change. I’m very pleased that the board has appointed Christine to take over the role as CEO,” says Kristian Bentzer.

“Kristian has done an outstanding job. We are very pleased with the extraordinary results he has achieved and are now looking forward to continue working with him in his new capacity as a member of Advisense’s board of directors,” says Bo Magnusson.

Christine Ehnström will take over as CEO on November 1, when Kristian Bentzer will take up his new position as board member of Advisense.

For media enquiries and further information, please contact:

Kristian Bentzer, Group CEO
+46 766 35 05 07
kristian.bentzer@advisense.com

Maria Sandström Anderson, Chief Marketing Officer
+46 73 385 06 43
maria.sandstrom@advisense.com

Christine Ehnström, Head of Business Area Risk, Compliance and Finance
+46 70 343 29 61
christine.ehnstrom@advisense.com

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2024-07-18
Portfolio Company News

Jacobs Holding to acquire ILERNA

Lleida/Zurich/Paris, 18 July 2024 – Jacobs Holding is pleased to announce it has agreed to acquire ILERNA, a leading provider of official vocational education in Spain from Skill & You, a portfolio company of IK Partners (“IK”). Alongside the company’s management team and employees, Jacobs Holding will support ILERNA in building on its leading position, helping it to expand its innovative education offering and making its qualifications accessible to an even broader range of people. The investment in ILERNA is strongly aligned with Jacobs Holding’s strategy to invest in European champions in the Education Sector, one of its three focus sectors.

Founded in Lleida, Catalonia, in 2014, ILERNA is a leading player in the Spanish vocational education space with over 46,000 students. The organization offers a wide range of online courses designed to meet the evolving needs of both students and employers. In recent years, ILERNA has developed a physical presence with 11 centers providing onsite instruction to complement its comprehensive online offering. With the support of Jacobs Holding, ILERNA will further enhance its educational programs, expand its curriculum, promote advanced technological tools, and extend its physical footprint. ILERNA has been a subsidiary of the French Skill & You Group since 2019. Skill & You was acquired by IK in 2021.

Tim Franks, CEO, and Justin Lewis-Oakes, Managing Director, of Jacobs Holding commented: “We have identified vocational education as a highly attractive sector within the European education landscape and Spain as a highly dynamic market with significant further growth opportunities. The online segment provides access to a broad demographic of students who are able to upskill flexibly around existing life commitments in order to enhance their long-term career opportunities. We are excited to back industry leading ILERNA in its next stage of growth, and to partner with co-founders Jordi Giné and Virginia Agelet, two accomplished and innovative leaders in the space.”

Jordi Giné Llorens, CEO of ILERNA, said: “We would like to thank IK Partners for their continuous support over the past three years. It has been a tremendous journey with a tripling of the size of the group and new campuses in Barcelona, Cordoba, Jerez, Lleida, Madrid, Tarragona, Seville, and Valladolid. We would like to welcome Jacobs Holding on board. They have unmatched experience in the global education sector and will provide further support for our next phase of ambitious development.”

Rémi Buttiaux and Diki Korniloff, Partners at IK, added: “ILERNA’s growth achievements stand as a testament to the remarkable leadership of its management team. We wish them well for their next growth phase with Jacobs Holding and look forward to seeing ILERNA thrive in its next chapter.”

Media contacts:

For Jacobs Holding:
Lemongrass Communications, Andreas Hildenbrand
andreas.hildenbrand@lemongrass.agency
+41 44 202 52 38

For IK Partners:
Vidya Verlkumar
vidya.verlkumar@ikpartners.com
+44 7787 558193

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2024-06-10
Portfolio Company News

GoodLife Foods to acquire Audens Group

GoodLife Foods B.V. and its affiliates (‘GoodLife Foods’) is pleased to announce that an agreement was signed to acquire Audens Group Solutions S.L. (‘Audens’ or the ‘Company’), a leading manufacturer in the Iberian frozen food market. The combination will result in a highly complementary group producing and selling innovative frozen food snacks and meal components across Europe. Financial terms of the transaction are not disclosed and completion is subject to legal and regulatory approvals.

Headquartered in Granollers (Barcelona area), Spain, Audens offers a broad portfolio of branded and private label products focused mainly on frozen snacks/appetizers and ready-meals.

The Company specializes in the production and distribution of branded and private label products, serving a customer base active in the Retail and Foodservice channels, mainly in Iberia next to a growing international presence.

Audens employs over 800 employees and operates five state-of-the-art manufacturing plants in Spain and Portugal. The Company’s CEO David Sala Coll will become non-executive director at GoodLife Foods and will remain active as strategic advisor to Audens. Carles Bosch will be appointed as General Manager of Audens and will manage the daily business operations in Iberia.

This strategic move represents a significant milestone for GoodLife Foods, as it allows to further diversify its product offerings and tap into new geographical growth opportunities. The combination will result in a leading frozen savoury food group with a pan-European sales and production network offering high levels of innovation and service levels to its customers.

Dirk Van de Walle, CEO at GoodLife Foods, said: ‘We believe that by combining the resources of Audens and GoodLife, talents, and innovative spirit, we can create a powerhouse in the food sector that is primed for success. Together, we will leverage our collective strengths to better serve our customers, drive operational excellence, and fuel growth in both existing and emerging markets’.

David Sala Coll, at Audens, said: ‘We are delighted to join forces with GoodLife Foods and become part of a dynamic and forward-thinking organization. This transaction presents exciting opportunities for our employees, customers, suppliers and partners alike. Together, we will continue to deliver exceptional appetizer solutions while maintaining our unwavering commitment to quality and customer satisfaction’.

Frederik Jacobs, Partner at IK, said: ‘We are pleased to have helped bringing both companies together. Part of our investment strategy at GoodLife Foods is to accelerate internationalisation and expand our presence to faster growing frozen food categories. The combination of GoodLife Foods with Audens is a significant accelerator of our ambition to create a strong and structurally growing frozen food business across select savoury categories’.

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2024-05-29
Portfolio Company News

Sitevision AB expands to Norway through the acquisition of CustomPublish AS

Sweden’s leading CMS, Sitevision, begins its international expansion by acquiring Norwegian CustomPublish. The acquisition is a part of Sitevision’s growth strategy and expansion in the Nordic market. Both companies have over 20 years of experience in developing web and intranet solutions for businesses, municipalities, regions and authorities.

“The acquisition of CustomPublish is the first step in our establishment in Norway and is fully in line with our growth strategy. CustomPublish and Sitevision largely target the same audience, and we complement their existing offering with a platform and services that have had Sweden’s most satisfied CMS customers since 2009,” says Anders Korsvall, CEO of Sitevision.

Both companies’ existing customers will benefit from an even broader set of tools that make it easier to create, manage, and publish content on their website and intranet. The main focus will be on leveraging the extensive experience from the Swedish and Norwegian markets to develop even better solutions for current and future customers.

“We look forward to becoming a part of Sitevision with the goal of together becoming the Nordic region’s leading CMS. Sitevision and their ecosystem will add great value to our existing customers. In turn, they will be able to offer their users and visitors an even better digital experience,” says Anders Svegård, CEO of CustomPublish.

A part of Sitevision’s strategy is to work closely with partners to provide customers with solutions and features tailored to their specific needs. This strategy has been a crucial component of Sitevision’s growth over the years. Now, they are opening up for collaborations in the Norwegian market as well and have already signed agreements with several Norwegian partners.

For more information about Sitevision and their products, visit Sitevision’s website.

For further information, please contact:

Anders Korsvall
CEO, Sitevision AB
+46 76 112 00 48
anders.korsvall@sitevision.se

Anders Svegård
CEO, CustomPublish AS
+47 450 66 540
anders@custompublish.com

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2024-05-15
Portfolio Company News

Veldeman Group welcomes Maessen Tentsupply from the Netherlands

Bree/Voorhout, 15 May 2024 – Tent structures and modular infrastructure specialists Veldeman Group (“Veldeman” or “the Group”) from Bree are incorporating Maessen Tentsupply into the Group. This move strengthens Veldeman’s wider geographical representation, while safeguarding future growth for tent suppliers Maessen Tentsupply.

Second acquisition in a single year for Veldeman Group

Veldeman Group, which supplies bespoke solutions for both rental and sales, has built up a strong international reputation with more than 50 years of experience. From the largest demountable festival tent in Europe to the largest semi-permanent warehouse in South America, there really are no limits to what the Group can offer. Even so, the rental business is largely concentrated on the Western European market.

In 2023, IK Partners, a leading European private equity firm, invested in Veldeman Group. One of the objectives behind this partnership was to accelerate rental growth and continue building an international presence through a targeted M&A strategy. An initial acquisition soon followed, namely East Flanders tent rental company Tentmoment, which enabled Veldeman to consolidate its position on the East and West Flanders market. A second acquisition now follows less than a year later with Maessen Tentsupply, with the Group also seeking to strengthen its position in the Netherlands.

Established reputation on the Dutch market

“Maessen Tentsupply is an established name in tent supply on the Dutch market. Just like Veldeman, the company stands for quality, flexibility and customer focus. Supplying custom-made solutions is in the DNA of both our companies. The markets and target audience they focus on also match with Veldeman’s. We look forward to working together with Maessen Tentsupply, within the Veldeman Group, to continue consolidating our position in the Dutch market and to realizing challenging projects,” says Andy Moors, CEO of Veldeman Group.  

Maessen Tentsupply has been involved in the rental and sale of tent structures for public events, festivals, private parties and industrial solutions since 1998. With a young and enthusiastic team of 30 employees, the company certainly does not lack ambition. This move is designed to propel Maessen Tentsupply into becoming the most reliable and respected tent supplier in the Netherlands. As part of Veldeman Group, the company will become stronger professionally and accelerate its ambitious growth plans. The current management of Maessen Tentsupply remains in place and is, in turn, investing in the Veldeman Group.

Roel Nelis of Maessen Tentsupply says “The success of the merger between Maessen Tenten and Tentsupply in 2021 underlined for us the power of working together. Over recent years we have achieved significant growth and made the processes within our company even more professional. We are now ready for the next step and believe we can continue synergy and growth within the Veldeman Group over the coming years.” “We recently expanded our branch in Voorhout with additional storage capacity of 6,000 square metres. This means we can now supply our group’s extensive product range efficiently in the Dutch market. We are really excited about working with the team and our clients to propel our service provision and projects to a higher level,” adds Rogier Maessen of Maessen Tentsupply.

Press contacts

Andy Moors, CEO Veldeman Group
Tel: (+32) 89 46 92 33
andy.moors@veldemangroup.be

Roel Nelis, Maessen Tentsupply
Tel. (+31) 6 12181498
roel@maessen-ts.nl

Rogier Maessen, Maessen Tentsupply
Tel. (+31) 6 53922537
rogier@maessen-ts.nl

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