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Portfolio Company News

Portfolio Company News

Renta acquires Scaffolding Group

Renta Group Oy (“Renta Group” or “Renta”) has reached an agreement to acquire Scaffolding Group
sp. z o.o. (“Scaffolding Group” or “the Company”). Scaffolding Group is a Polish scaffolding company
serving industrial customers in Southern Poland. On a project basis the Company also does work
outside Poland. The Company has more than 20 employees and annual revenues of approximately
PLN 16 million.

With the acquisition Renta makes an entry to the Polish industrial scaffolding market. Furthermore,
Renta strengthens its position in the industrial customer end-market. Scaffolding Group is a growing
company with strong profitability and a skilled staff. Renta’s objective, together with the
management of Scaffolding Group, is to continue to scale the operations geographically and to
further expand the customer base of the Company.

The acquisition is expected to be completed by February 2024.

Kari Aulasmaa, CEO of Renta Group, said: “We are excited to welcome Scaffolding Group to be part of Renta. The acquisition complements our offering and provides us improved access to industrial customers. I’m convinced that we will be able to further expand Scaffolding Group’s business together with the experienced management team of the Company. We warmly welcome the professionals of Scaffolding Group to join Renta.”

Michał Dzieciaszek, Co-founder of Scaffolding Group, said: “We are very happy to partner with Renta, a company sharing our ambition for continued development of the business. With the support of Renta, a larger company with a nationwide presence and advanced digital solutions, we will have a good foundation for continued growth and expansion of the business. We look forward to working with the Renta team in Poland and with Renta’s scaffolding professionals across the Renta Group.”

Portfolio Company News

Renta acquires Jelle-Bo

Renta Group Oy (“Renta Group” or “Renta”) has reached an agreement to acquire Jelle-Bo ApS
(“Jelle-Bo” or “the Company”). Jelle-Bo is a Danish general rental company with one depot located
in Svendborg on the island of Fyn. The Company has 9 employees and annual revenues of approximately DKK 20 million.

With the acquisition Renta grows its network of rental depots in Denmark and further strengthens
its presence on Fyn. Jelle-Bo is an excellent addition to Renta’s Danish operations with its strong
profitability and skilled staff. We will strive to continue to serve Jelle-Bo’s customers with the same
high-quality service approach as before, while further benefitting from Renta’s broad product
offering and digital solutions. The strong local market position and experienced management team
of Jelle-Bo creates a solid foundation for continued growth in the region.

The acquisition is expected to be completed latest in February 2024.

Kari Aulasmaa, CEO of Renta Group, said: “We are pleased to join forces with Jelle-Bo, a highly profitable company with a strong position in the local market. The acquisition complements our geographic coverage and is a natural continuation of our strategy of building a nationwide rental network in our core markets. We warmly welcome the skilled professionals of Jelle-Bo to join Renta.”

Hans Ove Jelle, CEO and founder of Jelle-Bo, said: “We are thrilled to partner with Renta and foresee great possibilities to continue to develop the business together. As part of Renta, our ambition is to continue to provide our customers with excellent customer service, like we have been doing before. Renta is a great partner for us to continue to develop sustainability and digital solutions in our operations. We look forward to working together with the Renta team.”

Portfolio Company News

Renta acquires YIT Kalausto Oy and signs a cooperation agreement with YIT

Renta Group Oy (“Renta Group” or “Renta”) has reached an agreement with YIT Corporation (“YIT”)
to acquire the entire share capital of YIT Kalusto Oy (“Kalusto Oy” or “the Company”), a subsidiary
of YIT providing in-house equipment services for YIT. As part of the arrangement, Renta and YIT will
sign a long-term cooperation agreement on the delivery of equipment and related services to YIT in
Finland. In connection with the transaction, Renta also purchases the property used by Kalusto Oy,
located in Urjala, Finland.

Prior to completing the share purchase of Kalusto Oy, the specialised equipment related to YIT’s
Infrastructure business and the personnel working with the specialised Infrastructure business, will
be carved-out from Kalusto Oy and transferred to YIT Infra Oy in an intra-group business transaction.

YIT Kalusto Oy is an in-house equipment service company, providing services solely to YIT. The
Company has a broad general rental offering, and following the carve-out of the specialised
Infrastructure business it has operations at two depots located in Urjala and Veikkola, in Southern
Finland. In connection with the share transaction, 67 employees of YIT Kalusto Oy will transfer to

The enterprise value is EUR 37 million in total, and the purchase price will be paid at the closing of
the transaction. The acquisition of YIT Kalusto Oy is conditional to the approval by the Finnish
Competition and Consumer Authority, and it is estimated to be completed by 30 June 2024.

Kari Aulasmaa, CEO of Renta Group, said: “The acquisition of YIT Kalusto Oy and the long-term cooperation agreement with YIT significantly strengthens Renta’s operations in Finland. Renta and YIT have already had a successful cooperation for several years and through the acquisition the partnership is further broadened to cover entire Finland. YIT is an excellent partner for Renta for continued development of high-quality and sustainable services by leveraging digital solutions. YIT’s equipment rental company is known for high-quality services and we warmly welcome the transferring professionals to Renta.“

Tuomas Mäkipeska, CFO of YIT Corporation, said: “With the sale of our equipment services and the cooperation agreement, we can more strongly focus on our core business and ensure that we have access to a comprehensive range of equipment and the latest digital services. Already for several years, Renta Group has been YIT’s primary partner in delivering equipment in Finland outside of Southern Finland. The transaction will further deepen the partnership with Renta. The goal of the cooperation is to increase the efficiency in using equipment, optimise resources and progress sustainability using low-emission equipment. Our team working with equipment services will have better opportunities to develop their skills as part of a larger expert team. With the transaction, YIT improves its capital efficiency”


Portfolio Company News

Medica welcomes new Chair and CEO

HASTINGS, UK – 4 January 2024 – Medica Group (“Medica” or “the Group”), a market-leading teleradiology provider in the UK and Ireland and provider of imaging solutions to clinical trials in the US, is delighted to announce that Tom Riall has joined as Chair and Andrew Cannon will join as CEO. These changes follow the acquisition of Medica by IK Partners (“IK”) in July 2023, which saw it successfully delist the Group from the London Stock Exchange.

Tom brings considerable experience of operating in the healthcare sector and people-centric businesses, specifically within outsourced services in supply-constrained markets. He is currently Chair of Kingsbridge Healthcare Group (the only Irish hospital group with hospitals on both sides of the Irish border) and MyDentist (Europe’s largest dental care provider). Prior to this and following several senior roles at Serco (outsourced service provider to the public sector), including CEO of the Global Services Division, Tom was CEO of MyDentist and The Priory Group (UK’s leading provider of mental healthcare services).

Andrew will join Medica in early April from Voyage Care (a provider of specialist care and support for people with learning and physical disabilities, brain injuries, autism, and complex needs), where he has been CEO since 2015 and successfully led the business through a period of transformational growth. He brings extensive senior leadership experience in healthcare services, where a focus on people and quality is paramount. Prior to his current role, he spent 10 years at Bupa, where he held a number of senior commercial leadership roles, including Managing Director of Care Services, Director of Healthcare Delivery and Head of Customer Services, after spending the earlier part of his career in finance related roles.

Pete Wilson, Partner at IK, commented: “We are delighted to welcome Tom and Andrew to Medica with their wealth of experience and impressive track records in healthcare services. The Group’s ability to attract such high-calibre individuals is testament to the strength of its service offering, the quality of its people and both Tom and Andrew’s belief in the market opportunity for Medica.

We would like to take this opportunity to thank Stuart Quin for his leadership of the Group over the last four years and wish him the very the best when he leaves his role as CEO at the end of January.”

Tom Riall, Chair of Medica, added: “I am thrilled to have joined Medica at such an important time given the role we play, in partnership with our customers, to help reduce imaging backlogs, bring down waiting times and ultimately improve clinical outcomes for patients. I have been hugely impressed with the relentless focus of our teams to deliver outstanding services to our customers.”

Andrew Cannon, incoming CEO of Medica, said: “As well as its market-leading position, one of the key attractions for me when deciding to join Medica was the focus on service quality and the highest standards of clinical governance. I look forward to working closely with Tom and the rest of the team at Medica to continue delivering collaborative and responsive telemedicine solutions that put patient outcomes at the heart of everything it does.”

Portfolio Company News

Introducing Advisense – uniting the strengths of FCG and Transcendent Group

Today, FCG and Transcendent Group are proud to announce the launch of our new, joint brand name – Advisense.

In August 2022, FCG and Transcendent Group joined forces with the target to build a market leading governance, risk and compliance powerhouse in Europe and the best workplace for GRC experts. We are now proud to present the next step on our joint journey – introducing Advisense as our new corporate brand.

“The name Advisense was designed to reflect the essence of what we bring to the market – advise and sensible solutions, helping our clients navigate a complex regulatory landscape and a challenging business environment”, says Kristian Bentzer, Group CEO at Advisense.

Our new and broader service offering ranges from risk management, cyber security, compliance, governance, financial crime prevention, sustainability and privacy to internal audit. We provide advisory services, managed services, and tech solutions including compliance software, advanced risk management systems and platforms for quantitative analytics.

Advisense will be used both as a brand name and a name for the legal entities of the group.

“As a first step today, the new brand name will be launched. During the autumn, a consolidation of group companies is being implemented, and in connection with the consolidation the legal name of the remaining entities will be changed to Advisense”, says Kristian Bentzer.

Three of our subsidiaries, Algorithmica, FCG Fonder and Grand Compliance, will continue their businesses under their current brands.

For media enquiries and further information, please contact:

Kristian Bentzer, Group CEO: +46766350507,

Maria Sandström Anderson, Chief Marketing Officer: +46733850643,

Portfolio Company News

Renta acquires Ohiko

Renta Group Oy (“Renta Group” or “Renta”) is expanding its specialised pumping business through the acquisition of Ohiko Oy (“Ohiko” or “the Company”). Ohiko is a specialised pumping company providing full-service bypass solutions throughout Finland. Headquartered in Tuusula, Ohiko has 7 employees and annual revenues of more than EUR 2 million.

The acquisition of Ohiko extends Renta’s specialised pumping business from the Baltics and Poland to Finland, in line with the expansion strategy set in connection to the acquisition of Uprent in 2022. Ohiko provides a solid platform to further develop and grow in the highly attractive niche rental segment in Finland.

Ohiko is an excellent fit with Renta as it is a professionally managed and highly profitable company with capabilities to deliver turnkey projects. Similar to Renta, the Company has a lean structure and it will continue operating and providing services with the same well-functioning local business model as before. Renta sees significant potential in Ohiko by further scaling the operations leveraging the complementary expertise of Ohiko and Renta’s pumping business and by expanding specialised pumping geographically across Finland, benefitting from Renta’s existing presence.  

Kari Aulasmaa, CEO of Renta Group, said: 

“We are excited to join forces with Ohiko, a profitable and rapidly growing company with a strong standing in the Finnish specialised pumping market. Through the acquisition, Renta takes a leap in the strategic expansion of the specialised pumping business. We are impressed by the expertise and full-service project management capabilities of Ohiko and are convinced it will provide us with an excellent platform for continued growth in Finland.  We would like to extend a warm welcome to the Ohiko team.“

Petri Id, CEO of Ohiko, said: 

“We have great previous experience from working with Renta’s specialised pumping providers in the Baltics and we are thrilled to become a part of Renta Group, which has ambitious plans for the future. Joining forces with Renta ensures the continuation of our high-quality services and enables us to take on larger projects and embark on new challenges. We look forward to partnering up with Renta.”