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Press Releases

2024-07-12
Press Releases

IK Partners enters into a partnership with BOMA

IK Partners (“IK”) is pleased to announce that the IK X Fund has signed an agreement to invest in BOMA (“the Company”), a leading distributor of cleaning and hygiene products and machines to business-to-business (“B2B”) markets in the Benelux and France. IK will partner with BOMA’s management team, who will retain a significant stake in the business. Financial terms of the transaction are not disclosed which is subject to customary approvals.

Founded in Belgium in 1974, BOMA is a market-leading developer and distributor of sustainable cleaning products, machines and hygiene solutions for the professional market. The Company has an extensive product portfolio which ranges from hygiene paper, disposable materials, detergents and disinfectants to cleaning equipment, including scrubber-dryers and robotics.

BOMA supplies numerous reputable professional cleaning companies, blue-chip corporations within Leisure and Industry and institutions from the Governmental, Healthcare and Education sectors. The Company offers a range of products under its innovative brands BOMA and Greenspeed, as well as value-added services, including digital tools and impeccable support, maintenance and logistics services.

Since inception, BOMA has maintained year-on-year growth momentum, consistently outperforming the market. Under the leadership of Luc Bresseleers and Stijn Wildiers, the Company has also expanded geographically and driven consolidation in the market. In partnership with IK, BOMA will look to broaden its product offering to continue attracting high-quality customers, while also exploring strategic add-on opportunities to further solidify its position across Europe.

Luc Bresseleers, Co-Owner and Chief Executive Officer of BOMA, said: “We are looking forward to working closely with the team at IK to ensure that BOMA cements its position as a market leader in the professional cleaning sector, on a European scale. We are confident that, together, we can deliver continued growth and strategic expansion for the benefit of our customers and stakeholders.”

Stijn Wildiers, Co-Owner and Chief Human Resources Officer of BOMA, said: “We would like to place, on record, our thanks to all our employees, existing shareholders and customers for their loyal support, for 50 years already! We are excited to be partnering with IK and look forward to accelerating the next phase our strategy.”

Jo Breesch, Managing Director at Think2Act, said: “We are proud of the consistent growth that the Company has shown over the last 50 years, including the last five years together with us. We want to thank management for the excellent cooperation.”

Frederik Jacobs, Partner at IK and Advisor to the IK X Fund, said: “Under the stewardship of Luc, Stijn and their team, BOMA has established itself as a leading developer and distributor of cleaning products and equipment in specific areas in Europe. We have been extremely impressed with the Company’s journey to date and look forward to utilising our experience to pursue internationalisation and unlock further value through operational initiatives.”

For further questions, please contact:

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

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2024-07-5
Press Releases

IK Partners enters exclusive negotiations to sell Mademoiselle Desserts to the Emmi Group

IK Partners (“IK”) is pleased to announce that the IK VIII Fund has entered into exclusivity to sell its stake in Mademoiselle Desserts (“the Company”), a leading European manufacturer of frozen pastries, to the Emmi Group (“Emmi”). Financial terms of the transaction are not disclosed.

Established in 1984 and headquartered in Montigny-le-Bretonneux in France, Mademoiselle Desserts has rapidly grown to become a leading European manufacturer of premium frozen pastries, including mini beignets, mini muffins, choux-based pastries, tarts, flans and pastry bases.

From its 12 production facilities in France, Benelux and the UK, Mademoiselle Desserts serves over 900 customers in more than 45 countries globally. The Company employs approximately 2,000 people who collaborate closely with its customers to develop bespoke desserts meeting the highest food standards.

In partnership with IK since 2018, Mademoiselle Desserts has achieved several strategic objectives and successfully executed the acquisitions of: Pâtisserie Michel Kremer in 2018; Les Délices Des 7 Vallées in 2019; Planète Gourmet in 2021; and Galana in 2023. These acquisitions have enabled the Company to expand internationally, particularly in the US and Europe, while enhancing its product portfolio towards mini products.

IK also supported the Company with an operational excellence programme centred around purchasing, site specialisation and logistics. Investments in production lines were also made to further expand the business’s capacity. These initiatives, coupled with the expertise of the management team, have resulted in substantial growth and expansion for the group.

Didier Boudy, CEO of Mademoiselle Desserts, commented: “We would like to thank IK for all their support in the past six years. This period has seen us navigate several significant global crises, but we have managed to emerge as a stronger business through the dedication of our own employees and the expertise and financial backing of IK. We are very excited about the next chapter which will see us working closely with Emmi.”

Rémi Buttiaux, Managing Partner at IK and Advisor to the IK VIII Fund, said: “Since investing in Mademoiselle Desserts in 2018, we have been extremely impressed with the professionalism and expertise of the entire team. Together, we have implemented organic growth initiatives and executed several bolt-on acquisitions, solidifying the Company’s position as one of Europe’s leading manufacturers of frozen pastries and desserts. We wish Didier and his team continued success for the next stage of their already impressive growth story.”

For further questions, please contact:

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

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2024-06-4
Press Releases

IK Partners invests in Qconcepts

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



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2024-05-29
Press Releases

IK Partners to invest in BIOBank alongside Management and historical shareholders Verto Growth and Capital Croissance

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

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2024-04-26
Press Releases

IK Partners divests Yellow Hive to a newly established continuation fund

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

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2024-04-23
Press Releases

Stake in A-SAFE acquired by IK Partners

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

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