IK Partners (“IK” or “the Firm”), a leading European private equity firm, is pleased to announce that it has opened a new office in Munich, Germany as part of its ongoing commitment to investing in the DACH region.

The Munich office will be led by Joachim Dettmar, Partner within IK’s Operations Team and Adrian Tanski, who has been promoted to Partner and sits within the Partnership Fund team. Previously based in IK’s Hamburg office, Adrian joined the Firm as an Associate Director in the DACH Mid Cap team in 2018, where he was involved in a range of transactions, including the exit of KLINGEL Medical Metal in 2023 as well as the acquisitions of MÜPRO in 2022 and CONET in 2021.

IK’s Partnership Fund strategy was launched in 2019 and targets larger, more established businesses at the higher end of the mid-market. IK invests alongside existing owners or new partners through minority positions.

In addition, IK is delighted to announce two further promotions to Partner across the Firm’s Hamburg and London offices:

• Ingmar Bär – Development Capital Investment Team, Hamburg
• Alexandra Kazi – Finance and Administration Team, London

Christopher Masek, Chief Executive Officer at IK, commented: “After what has been another very successful year for IK, we are delighted to celebrate the contributions of Adrian, Ingmar and Alexandra, whose commitment and efforts have been recognised through their promotions to the Partner Group. Furthermore, we are reinforcing our well-established base in the DACH region with the opening of a new office in Munich, helping to cement our position as one of the leading partners to European small and medium-sized enterprises.”

Adrian Tanski, Partner at IK, commented: “I am thrilled to be heading up IK’s new Munich office, together with Joachim, to strengthen our presence in the dynamic and attractive DACH market. Munich’s thriving economy, strong industrial base and access to high-calibre talent make it an ideal location for expanding our reach and originating exciting investment opportunities.”

For further questions, please contact:

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

ENDS

Adrian Tanski

• Adrian Tanski joined IK in 2018 and is the Partner responsible for the DACH Partnership Fund Investment team, based in Munich.
• He specialises in the Industrials sector and has been involved in several Mid Cap and Partnership Fund transactions across the DACH region.
• Prior to joining IK, Adrian worked at Emeram Capital Partners, having gained an MBA from London Business School as well as a BA in Business Administration from the University of St. Gallen.
• In addition to his professional skills, Adrian is an accomplished concert pianist.

Ingmar Bär

• Ingmar Bär joined IK in 2018 and is the Partner responsible for the DACH Development Capital Investment team, based in Hamburg.
• He has been involved in several Small Cap and Development Capital transactions across the DACH region.
• Prior to joining IK, Ingmar worked at Triton Partners, having gained an MBA from INSEAD, a MSc in Finance from Bocconi University and a MSc in Accounting from Rotterdam School of Management.

Alexandra Kazi

• Alexandra Kazi joined IK in 2017 and is the Partner responsible for Tax, Legal and Corporate Operations at IK.
• She has responsibility for structuring matters across IK, its funds and transactions, as well as oversight of tax reporting, governance and various operational initiatives.
• Prior to joining IK, Alexandra was employed at PwC, having qualified as an ACA Accountant and gained a BSc in Economics and Chinese Studies from the University of Nottingham.

Blinqx, a provider of cloud software solutions for small and medium-sized enterprises, corporates and service organisations, today announced that it has signed an agreement to invest in GeoDynamics (“the Company”), a leading Belgian software provider specialised in the development of innovative, high-quality and user-friendly applications for Human Resources (“HR”), planning and Financial Managers. Blinqx is acquiring its stake in the Company from the IK Small Cap II (“IK SC II”) Fund, a fund owned and managed by European private equity firm IK Partners (“IK”). Financial details of the transaction are not disclosed.

This transaction will see GeoDynamics become part of Blinqx as it looks to strengthen its software as a service (“SaaS”) solution for HR and Finance Managers. This new partnership underlines the international growth ambitions of both parties in the Benelux. Following completion of the transaction^[1], GeoDynamics will continue to operate independently within Blinqx, under the leadership of existing Managing Directors and Co-Founders Stijn Stragier and Peter Vermeesch. Both Stijn and Peter will also become co-shareholders in Blinqx.

Founded in 2004 and headquartered in Kortrijk, Belgium, GeoDynamics is a leading SaaS platform that automates, digitises and innovates complex time and activity registration and payroll processing for over 3,500 customers, predominantly within the Construction, Service & Installation and Cleaning sectors. Typical GeoDynamics users are in planning, finance, fleet and HR and use this SaaS solution to save significant time on repetitive, manual tasks and easily comply with relevant regulations. Under the leadership of Stijn and Peter, in 20 years, the Company has grown into a professional team with a leading position in its home country Belgium and solid growth ambitions in the Netherlands.

Since the acquisition of GeoDynamics by IK in December 2020, the Company has delivered consistent year-on-year revenue and customer growth. With the support of IK’s experienced team in the Benelux region, GeoDynamics has expanded its leadership, middle management and commercial teams to support customer growth. The Company has also launched several new product features.

Peter Vermeesch, Co-Founder and Managing Director at GeoDynamics, said: “Blinqx is a SaaS player capable of transforming the markets in which it operates through a combination of sector expertise, new technologies and connecting the best software into a total solution. The entrepreneurship of the Blinqx team is evident in every interaction and has also proven itself successful in a short period of time. Bringing the progressive nature of both parties together now helps us both grow even further. For instance, in cooperation with Blinqx, we can bring new features to the market at an accelerated pace.”

Stijn Stragier, Co-Founder and Managing Director at GeoDynamics, added: “Together with Blinqx, we can further expand our footprint in the Netherlands. Additionally, we can start providing our existing customer base in Belgium with connecting software modules and solutions for HR and Finance Managers, which will allow our users to save even more time in their daily business operations. I’d also like to take this opportunity to thank Sander, Frances and their team at IK for all their support over the last four years.”

Sander van Vreumingen and Frances Houweling, Partners at IK Partners and Advisors to the IK SC II Fund, added: “Since investing in GeoDynamics over four years ago now, we remain impressed with the expertise and experience brought by Stijn, Peter and their high-calibre team. During our partnership with them, the Company has grown substantially and we are proud of all that we have achieved together. With its acquisition by Blinqx, GeoDynamics has found a new home where the entrepreneurial spirit of founder-led management serves as a strong unifying force. We wish Stijn, Peter and their new owners every success in the future.”

Ruud van der Kruk, CEO Blinqx, commented: “Welcoming GeoDynamics is a huge step forward in realising our international growth ambitions, as well as expanding our offering in the key sectors we serve. GeoDynamics’ solutions are a great addition to our existing products for HR and Finance Managers, in which we already offer strategic financial planning, workflow management, procurement and data intelligence for Business Services in particular. This expansion underlines our philosophy as a connector of progressive software into a total solution for the user.”

[1] Subject to approval by the Belgian authorities

For more information, 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 II (“IK SC II”) Fund has signed an agreement to sell its stake in Mecenat Group AB (“Mecenat” or “the Group”), a leading marketing and brand awareness platform, to Inflexion. Financial terms of the transaction are not disclosed.

Founded in 1998 and headquartered in Gothenburg, Sweden, Mecenat is a digital marketing platform which connects students, young professionals/alumni and seniors with well-known brands by providing access to exclusive offerings, career services and relevant events. Operating across five main business areas in Sweden and Finland, the Group takes pride in connecting almost three million members with more than 700 local and global brands, creating synergetic exchanges in the areas of brand building, unique discount offerings and marketing. Mecenat’s platform spans diverse industries, including Technology, Fashion, Travel and Entertainment and includes key partners such as Apple, Zalando, Hotels.com and Viaplay.

Mecenat’s services are primarily digital, allowing for a two-way exchange between brands and members through its app and website. In recent years, the Group has expanded through the acquisitions of Seniordays in 2021, Frank Students in 2022, and Traineeguiden in 2023. The development of the platform in this way has enabled Mecenat to leverage a unique member acquisition approach which sees students entering organically before automatically progressing to alumni, while retaining members throughout their life by leveraging the top-of-mind habit developed when they were students.

Since IK first invested in the business in September 2021, Mecenat has more than doubled its revenue, proving its resilience in the face of challenging global economic conditions. The Group has also: expanded its product offering to attract a more diverse range of members, including alumni and seniors; achieved meaningful geographic expansion beyond the Swedish market; delivered significant technological developments; and executed strategic acquisitions to support the expansion of the product range. 

Jonas Odéhn, CEO of Mecenat Group, said: “We would like to thank IK for their support during the past three years. This period has seen Mecenat develop into an even stronger business thanks to the hard work and dedication of our employees. The Group has experienced tremendous growth and transformed into a leading marketing technology and brand awareness platform with a unique business model and digital-first approach to fostering brand loyalty. With this solid foundation in place, we look forward to the next chapter which will see us partner with the team at Inflexion.”

Carl Jakobsson, Partner at IK Partners and Advisor to the IK SC II Fund, added: “Since investing in Mecenat in 2021, we have been extremely impressed with the professionalism and expertise displayed by Jonas and his team. During our partnership with them, the Group has gone from strength-to-strength, nearly doubling its member base and pursuing geographic expansion through a range of value creation initiatives. We wish Jonas, his team and Inflexion the very best of luck for the next stage in Mecenat’s growth journey.”

For further questions, please contact:

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

Paris, 19 December 2024

Eurobio Scientific (FR0013240934, ALERS, PEA-PME eligible) and EB Development announce the final outcome of the takeover bid initiated by EB Development (the “Offer“), based on the results published on 18 December by the Autorité des marchés financiers (AMF) at the end of the reopening period of the Offer (the “Reopened Offer“).

644,911 ordinary shares were tendered to the Reopened Offer, which closed on 17 December 2024. These are in addition to the 4,582,971 ordinary shares tendered to the Initial Offer, giving a total of 5,227,882 ordinary shares tendered to the Offer, enabling EB Development, acting in conjunction with funds managed by NextStage AM and IK Partners, and Mr. Denis Fortier, Chairman and CEO, and other members of the Board of Directors and senior management of the Company ,[1] to hold, after assimilation of the treasury shares held by Eurobio Scientific (the “Company“), 9,113,592 shares representing 88.92% of the share capital and voting rights of the Company.

As the percentage of share capital and voting rights attained following the Reopened Offer is below the 90% threshold allowing the implementation of a squeeze-out procedure, the additional price of €1.25 per share will not be paid. Settlement and delivery will take place on 23 December 2024.

Denis Fortier, Chairman and CEO of Eurobio Scientific, said: “The results of the takeover bid give Eurobio Scientific the means to accelerate its development with the support of NextStage and now IK Partners, active shareholders who share our strategy and have a good knowledge of our in vitro diagnostics and intelligent health markets. We would like to thank our shareholders for their confidence and support in making this transaction a success.”

NextStage AM acquired a stake in Eurobio Scientific on 18 May 2022 through the creation of a joint holding company with the entrepreneurs called “EurobioNext”. NextStage AM invested in the company through the “Pépites et Territoires” programme by AXA France & NextStage AM and its NextStage EverGreen vehicle.  NextStage AM has supported Eurobio Scientific in structuring its management team and accelerating its external growth strategy, in particular, through significant M&A transactions (including the acquisition of the Dutch company GenDx, one of the world leaders in HLA typing for transplant compatibility, in August 2022).[2]

NextStage AM and IK Partners, as core shareholders, will continue to support the group’s team of entrepreneurs in this new stage of the Company’s growth.

Grégoire Sentilhes, Chairman and co-founder of NextStage AM, commented: “Since May 2022, the team of entrepreneurs led by Denis Fortier has accelerated the transformation of the group post-Covid, in particular through the acquisition of GenDx, by strengthening the part of its business dedicated to proprietary products. We are delighted to be pursuing the development of Eurobio Scientific, which has the potential to become a leading SME in its market, alongside IK Partners, a leading investor who shares our vision and entrepreneurial values.”

Rémi Buttiaux, Managing Partner at IK Partners, added: “Eurobio Scientific has established itself as a market leader in the field of in vitro diagnostics and we are looking forward to working closely with the management team, NextStage AM and other stakeholders to support this next phase of development for the business.”

Warning:

This press release has been prepared for information purposes only. It does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of Eurobio Scientific S.A. or an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of Eurobio Scientific S.A. The release, publication or distribution of this press release may be restricted by law in certain jurisdictions and, accordingly, persons in possession of this press release in such jurisdictions should inform themselves of and observe any applicable legal restrictions. Investors and shareholders in France are strongly advised to read the Offer documents referred to in this announcement as they contain important information about the proposed transaction and other related matters. EB Development’s offer document and “other information” document are available on the websites of the AMF (www.amf-france.org) and Eurobio Scientific S.A. (www.eurobio-scientific.com) and may be obtained free of charge on request from EB Development (43, avenue de Friedland, 75008 Paris, Crédit Industriel et Commercial (6, avenue de Provence, 75009 Paris) and Degroof Petercam Wealth Management (44, rue de Lisbonne, 75008 Paris). Eurobio Scientific’s note in response and “other information” document are available on the AMF (www.amf-france.org) and Eurobio Scientific S.A. (www.eurobio-scientific.com) websites and may be obtained free of charge on request from Eurobio Scientific S.A. (7, avenue de Scandinavie, ZA de Courtaboeuf, 91953 Les Ulis). Neither Eurobio Scientific S.A., EB Development, nor their respective shareholders, advisers or representatives accept any liability whatsoever in connection with the use by any person of this press release or its contents, or more generally in connection with this press release.

[1] Denis Fortier (Chairman and Chief Executive Officer), Cathie Marsais (Chief Operating Officer), Olivier Bosc (Chief Operating Officer), Jean-Michel Carle-Grandmougin (Chief Operating Officer and member of the Board of Directors) and Hervé Duchesne de Lamotte (member of the Board of Directors).

[2] https://nextstage-am.com/eurobio-scientific-participation-de-nextstage-am-annonce-la-signature-dun-accord-en-vue-dacquerir-gendx-leader-mondial-du-diagnostic-hla-aux-pays-bas/

For further questions, please contact:

Eurobio Scientific Group
Denis Fortier, Chairman and CEO
Olivier Bosc, Managing Director / CFO
Tel. +33 1 69 79 64 80

Calyptus
Mathieu Calleux
Investor Relations
Tel. +33 1 53 65 68 68
eurobio-scientific@calyptus.net

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

IK Partners (“IK”) is pleased to announce that the IK X Fund has signed an agreement to invest in Dains Accountants (“Dains” or “the Company”), a leading provider of accountancy and business advisory services in the UK, alongside the management team who are significantly re-investing. IK will succeed Horizon Capital as the majority shareholder. Financial terms of the transaction are not disclosed.

Established in 1926, Dains provides a comprehensive suite of accounting and business advisory services to fast-growing small and medium-sized enterprises (“SMEs”) in the UK and Ireland. The business offers a differentiated approach through its senior-led client relationships and high-quality service delivery across its range of services, including: Accountancy & Business Advisory; Audit; Tax; Corporate Finance; Forensic Accounting; and Business Recovery.

Following investment from Horizon Capital in 2021, Dains has grown rapidly as a result of 10 strategic acquisitions and impressive organic growth. At present, the Company has 765 employees who serve a large and diversified customer base of over 17,000 clients.

With the support of IK, Dains will look to: continue its strong organic growth in the UK and Ireland; make further investment in its operational platform and recruitment; as well as accelerate its inorganic growth through partnering with strong, complementary firms across the UK and Ireland.

Richard McNeilly, CEO of Dains, said: “We are very excited to be partnering with IK, who we believe possesses the necessary track record and expertise required to successfully support us in this next phase of our development. The team’s experience in both the Accounting and Professional Services sector, as well as in executing buy-and-build strategies in the UK and Ireland will be especially important in a fragmented marketplace like ours, where we are looking to drive consolidation and reinforce our strong position as the acquiror of choice. We would also like to take this opportunity to thank Luke and his team at Horizon Capital for their unwavering support over the past three years.”

Pete Wilson, Partner at IK Partners and Advisor to IK X Fund, said: “Dains is a strong business with an impressive history of delivering exceptional client services and business growth year on year. The breadth of services offered by their accountancy experts across the UK and Ireland has built an excellent reputation for Dains amongst fast-growing SMEs. With our track record in supporting similar businesses in the Business Services sector, we look forward to partnering with Richard and his team in the next phase of the Company’s journey.”

Luke Kingston, Managing Partner at Horizon Capital, added: “We are so proud to have played a part in the growth of Dains over the last three years and to have backed Richard and his team to build a leading business in its niche. This was a fantastic investment and we are thrilled to have delivered an excellent outcome for all stakeholders involved. We wish the Company every success in the future.”

For further questions, please contact:

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

Horizon Capital
Luke Kingston
Managing Partner
Phone: +44 7980 223 458
lk@horizoncapital.co.uk

Rivean Capital (“Rivean”) is pleased to announce that it has signed a definitive agreement to acquire a majority stake in Acture Group (“Acture” or “the Group”), a leading provider of holistic employee welfare solutions, from IK Partners (“IK”). The stake is being acquired from the IK Small Cap II (“IK SC II”) Fund, with Co-Founder and current CEO Maudie Derks, as well as the management team, reinvesting alongside Rivean.

Founded in 2008 and headquartered in Nijmegen, the Netherlands, Acture is a specialised outsourced service provider supporting corporates and staffing agencies in managing employee absence. The Group has an integrated approach to employee welfare, offering complementary services such as absence management and reduction, including case management and reintegration programmes, combined with an absence insurance proposition.

Acture’s heritage and longstanding experience as a pioneer in the private social security services market in the Netherlands have resulted in large amounts of valuable data being translated into innovative case management solutions supported by proprietary technology. With IK’s support since 2020, the Group completed four add-on acquisitions in the Netherlands and three in Germany, to further complement its proposition and expand its geographical footprint. Acture is also currently rolling out a mental health absence management platform, Evermood, in the Netherlands and the DACH region. Through its full-service offering, Acture is well positioned to fully unburden customers who are confronted with labour market shortages and rising absenteeism costs. At present, the Group employs approximately 390 full-time employees across its offices in the Netherlands and Germany.

Ready for the next phase of growth

The Group’s ambition to reinforce its position as a leading European provider of specialised outsourced services and insurance products requires further investment in the organisation to help develop its digital offering and platform capabilities. With Rivean’s support, Acture will continue along its international growth trajectory, accelerating the execution of its strategic growth plan and transforming from a leading Dutch player in the social security market, to a European total employee welfare platform.

Maudie Derks, CEO of Acture, said: “With the recent add-on acquisitions, Acture has taken its first steps into the international arena while simultaneously expanding its offering with a tech-driven wellbeing proposition. Through the new partnership with Rivean, we plan to accelerate our international roll-out, advance our ambitious growth trajectory and further develop the total employee welfare management concept. We would like to thank IK for their support over the past few years and look forward to joining forces with Rivean.”

Nikolai Pronk, Managing Partner at Rivean Capital, commented: “We are very impressed by Acture’s leading market position, supporting its customers with an integrated offering and with a track record of consistent growth. We look forward to partnering with Maudie and the management team to support Acture in its next development and international growth phase.”

Sander van Vreumingen, Partner at IK and Advisor to the IK SC II Fund, added: “Over the past four years, we have had the pleasure of working very closely with Maudie and her team. From the start, we have been impressed with the combined professionalism and expertise of the team, which has enabled both the successful implementation of multiple organic growth initiatives and execution of several bolt-on acquisitions. We are proud of all that we have achieved in partnership with Acture and would like to wish Maudie and her team all the very best in the next stage of their journey.”

Completion of the transaction is subject to obtaining merger clearance, AFM and works council approval.

For further questions, please contact:

Rivean Capital
Maikel Wieland
Partner – Head of Investor Relations & Co-Investments
Phone: +41 43 268 20 30
m.wieland@riveancapital.com

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