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Press Releases

2024-02-13
Press Releases

IK Partners enters into exclusive negotiations with CAPZA for the acquisition of Eurofeu

IK Partners (“IK”) is pleased to announce that the IK X Fund has entered into exclusive negotiations to invest in Eurofeu Group (“Eurofeu” or “the Group”), a leading player in the French fire protection market. IK is acquiring a majority stake from CAPZA and the management team, who will both be reinvesting. Financial terms of the transaction are not disclosed.

Founded in 1972 in Senonches (Eure-et-Loir, France), Eurofeu installs and maintains fire protection equipment, as well as fire protection systems, for business-to-business (“B2B”) clients mainly. As one of the few market providers in possession of integrated manufacturing capabilities, Eurofeu has a highly differentiated offering. The Group also benefits from a high level of sales recurrence thanks to the maintenance side of the activity, as well as the associated sales of spare parts.

Today, Eurofeu has 1,850 employees, based across 42 agencies and two manufacturing sites, who serve roughly 160,000 B2B clients across France.

Under CEO Eric Hentgès and with the backing of CAPZA since July 2020, the Group has grown considerably; both organically and via an active buy-and-build strategy. In partnership with IK and with the continued support of CAPZA, Eurofeu has ambitions to leverage its network, salesforce and IT tools at its disposal to drive growth. In addition, the Group plans to expand into other European geographies and drive consolidation.

Completion of the transaction is subject to legal and regulatory approvals.

Eric Hentgès, CEO of Eurofeu, stated: “I have been extremely proud of the progress we have made towards becoming a leading player in the French fire protection market. With CAPZA’s backing since July 2020, we have been able to accelerate organic growth and lead an active M&A strategy, allowing us to expand geographically and broaden the Group’s offering to include equipment with more complex capabilities. We would like to thank CAPZA for their support thus far and look forward to partnering with IK and leveraging their pan-European platform to pursue further expansion.”

Diki Korniloff, Partner at IK and Advisor to the IK X Fund, said: “We have been impressed by Eurofeu’s journey to date and are convinced of the critical and resilient nature of their service offering to a wide base of B2B clients. We are excited to partner with Eric and his team, as well as CAPZA, to support the Group in its next phase of growth, where European expansion will be key. The Group will have access to the full breadth of IK resources and expertise, while also being able to leverage our network of European offices.”

Fabien Bernez, Partner at CAPZA, added: “It has been fantastic to work with Eric and the wider team at Eurofeu over the past few years. Since our investment in 2020, the Group has become a leading player in the French fire safety market; an achievement we are very proud of. We look forward to continuing to support Eurofeu and its management team in the next chapter of growth, alongside IK.”

For further questions, please contact:

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

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2024-02-1
Press Releases

IK Partners among TNFD Early Adopters

IK Partners (“IK”) is delighted to announce that it is one of 320 companies recognised as ‘Early Adopters’ of the Taskforce of Nature-related Financial Disclosures (“TNFD”) recommendations. These are companies that intend to start making disclosures aligned with the TNFD Recommendations in their corporate reporting by the financial year 2024 (or earlier) or 2025.

The TNFD announced that 320 organisations from over 46 countries have committed to start making nature-related disclosures based on the TNFD Recommendations published in September last year.

The suggested advice and instructions aim to facilitate the incorporation of nature considerations into the decision-making processes of businesses and finance. This, in turn, will promote a shift in global financial flows, encouraging businesses and finance entities to evaluate, disclose and address their dependencies, impacts, risks and opportunities related to nature. The overarching goal is to redirect global financial flows away from outcomes that harm nature and towards outcomes that benefit nature, in accordance with the objectives outlined in the Global Biodiversity Framework.

The initial group comprises prominent publicly traded companies from various regions and industry segments, amounting to a total market capitalisation of US$4 trillion. It also encompasses more than 100 financial institutions, including some of the world’s largest asset owners and managers, with a combined total of US$14 trillion in Assets under Management (AUM). Additionally, it includes banks, insurers, and other key market intermediaries like stock exchanges, audit firms, and accounting firms. The full list of Early Adopters is available here.

The early adoption of TNFD recommendations is the latest significant milestone for IK as it continues to fully integrate environmental, social and governance (“ESG”) matters into its investment process. This announcement follows the validation of IK’s greenhouse gas emissions reduction targets by the Science Based Targets Initiative in 2022.

Christopher Masek, Chief Executive Officer at IK Partners, said: “I am pleased to see IK become an Early Adopter of the TNFD and committing to making nature-related disclosures in accordance with a globally recognised framework. This will allow us to develop a greater understanding of nature impacts and dependencies of our pan-European portfolio. We are confident that this will support the continued success of both our firm and the companies we work with, thereby benefitting our investors and other important stakeholders.”

Jovana Stopic, ESG Director at IK Partners, added: “This is a very exciting development for IK’s approach to sustainability, focused on enabling us to make the right investment decisions and futureproofing our portfolio companies. Biodiversity and nature are often overlooked; however, it is vital that these elements are given due consideration alongside those related to climate change. The TNFD recommendations are the essential first step in ensuring that this is the case.”

For further questions, please contact:

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

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2024-01-11
Press Releases

IK kicks off New Year with Partner promotions

IK Partners (“IK” or “the Firm”) is pleased to announce the promotion of Carl Jakobsson and Frederik Jacobs to Partner in the Mid Cap Investment teams in the Nordics and the Benelux respectively.

Carl joined the Stockholm office in 2013 and specialises in the Business Services sector. He has served on the Boards of numerous portfolio companies, including Aspia, Netel, Evac and Ramudden, since joining. Prior to IK, Carl worked within the Investment Banking department of SEB Enskilda. He holds an MSc and BSc in Finance from the Stockholm School of Economics.

Based in Amsterdam, Frederik joined IK in 2014. He has been involved in several notable transactions across the Benelux region and possesses specialist expertise in the Healthcare sector. Prior to joining IK, Frederik worked in Deutsche Bank’s Investment Banking Division focused on the Benelux region. He holds an MSc and BSc in Business Engineering from the University of Leuven.

Christopher Masek, CEO at IK, commented: “2023 was an exceptionally busy year for IK and we are incredibly proud of the contribution of our outstanding colleagues, especially Carl and Frederik whose hard work has been recognised with their promotions to the Partner Group. Both individuals have shown their ability to deliver results for investors and drive value creation across the portfolio, possessing the drive and level-headedness required in the current market.”

Carl Jakobsson, Partner at IK, added: “I feel privileged to have been given continuous opportunity to gain a wealth of experience over the past 11 years at IK. Since joining, I’ve worked locally in Sweden and across Europe with colleagues and portfolio companies to create growth opportunities.”

Frederik Jacobs, Partner at IK, commented: “I’m grateful to my colleagues for the support I’ve received over the past decade. This has enabled me to make significant progress within the Firm and I’ve had the good fortune of being involved in many interesting projects. I’ve worked alongside brilliant management teams to create excellent outcomes and value for all and I look forward to seeing what the future brings.”

For further questions, please contact:

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

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2024-01-9
Press Releases

IK Partners to sell Mabtech to EQT

IK Partners (“IK”) and Mérieux Equity Partners (“MxEP”) are pleased to announce that the IK Small Cap II Fund and Mérieux Participations 3 have signed an agreement to sell their respective stakes in Mabtech AB (“Mabtech” or “the Company”), a Swedish biotechnology firm specialising in immune monitoring, to EQT. Financial terms of the contemplated transaction are not disclosed.

Founded in 1986 by immunology researchers and friends at Stockholm University, Mabtech is a global manufacturer of high-quality antibodies, kits and readers used to study immune responses, including those in cancer immunotherapies and infectious diseases. Its products and services help to advance biomedical research and develop vaccines, cell and gene therapies.

Mabtech has consistently been at the forefront of technological innovation within its sector and has a proven track record of effectively scaling its operations to broaden its offering. As a well-established leader in the area of live-cell immunoassay kits and readers for measuring immune cell responses in research, drug development and diagnostic applications, it has plans to expand the product portfolio further. At present, the Company has over 1,000 differentiated products and serves over 900 clients across 60 countries.

With the support of IK and MxEP, Mabtech has: more than doubled its sales and EBITDA through organic growth initiatives; expanded its product / service offering; and professionalised the business by improving internal reporting structures and strengthening its management team. The ownership period also saw the Company pursue geographic expansion leading to a significant presence in the US and China.

Jan Wahlström, CEO of Mabtech, commented: “IK and MxEP have been terrific partners over the last four years, combining direct knowledge of our sector and offering extensive hands-on support. Their support enabled our growth ambitions to materialise, allowing us to accelerate the growth of our core business as well as expand our service offering. We’d like to thank the teams at IK and MxEP for their support and we look forward to working with our new partners, EQT.”

Henrik Geijer, Partner at IK Partners and Advisor to the IK Small Cap II Fund, said: “Mabtech has developed substantially over the course of our partnership with them. Through an expansion of Mabtech’s commercial capabilities, in combination with a continued focus on innovation, the Company has experienced significant growth and, at the same time, expanded into new markets with products carrying the high-quality mark that Mabtech is well-known for. We are very proud of what we have accomplished with the Mabtech team over the last four years and we wish them, along with their new owners, every success in the future.”

Benoît Chastaing, Managing Partner at Mérieux Equity Partners, added: “It has been a fantastic journey with Mabtech and its management team. As a specialised healthcare investor, we are deeply committed to invest in innovative and best-in-class businesses. Being at the forefront of innovation in immunoassays, thanks to its strong scientific expertise, Mabtech was a perfect fit for our investment strategy. We thank Jan Wahlström and his team and wish them all the best for the future.”

Isabel de Paoli, Partner in EQT Private Equity Advisory Team, said: “We are excited to be supporting Mabtech in the next stage of its development. Having already created a growth platform and developed an excellent reputation as a leading, global manufacturer of antibodies, kits and readers, Mabtech is well positioned to accelerate further growth.”

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

H/Advisors Maitland
Vikki Kosmalska
Phone: +44 (0) 7754 943 601
vikki.kosmalska@h-advisors.global

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2023-12-4
Press Releases

IK Partners to invest in Kooi

IK Partners (“IK”) is pleased to announce that the IK X Fund has signed an agreement to acquire Kooi European Mobile Security Solutions B.V. (“Kooi” or “the Company”) the fast-growing pan-European provider of temporary camera surveillance (“TVS”) and rising early-detection (“RED”) solutions. IK is acquiring a majority stake from Bencis Capital Partners (“Bencis”), founder Pieter Kooi and the management team, who will all reinvest. Financial terms of the transaction are not disclosed.

Headquartered in Drachten, the Netherlands, Kooi is a leading provider of TVS and RED solutions, including a range of Units for Observations (“UFOs”), serving various end markets across Europe. The Company provides an end-to-end service from technical advice, delivery, installation and 24/7 monitoring through its own Kooi Alarm Centres.

At present, Kooi has more than 200 employees who serve a growing customer base in 23 countries. The Company has a sizeable presence in the Benelux, DACH, France and the Nordics with a track record of successfully expanding into new geographies. In recent years, the Company has also successfully introduced its UFO offering to sectors including Construction and Infrastructure. Additionally, Kooi benefits from its unique and strong heritage in Renewables.

With Pieter Kooi’s involvement and the backing of Bencis since June 2018, the current management team, along with its strong staff, has successfully steered Kooi through robust growth, effectively expanding and enhancing its operational capabilities.

In partnership with IK, Kooi plans to: further realise benefits of scale; penetrate the growing TVS and RED markets; establish additional local teams; and expand internationally into underserved markets.

Completion of the transaction is subject to legal and regulatory approvals.

Peter Schollmann, CEO of Kooi, stated: “We would like to thank Bencis for all their support over the past five years, which has provided us with a solid foundation for future growth. Kooi’s success comes from our people and culture; something I am very GRUTSK (proud) of!”

Pieter Kooi, Founder of Kooi, added: “We look forward to the next chapter and realising our ambitious plans to accelerate growth of the Company across Europe. We are confident that with the support of IK, we can retain our autonomous, market-leading position and successfully penetrate a host of underserved European markets.”

Remko Hilhorst, Managing Partner at IK and Advisor to the IK X Fund, said: “We have been impressed with Kooi’s track record to date and its ability to continuously evolve its offering to meet the needs of its customers. It has a well-established presence in the TVS market with further growth potential which can be unlocked in the years to come, particularly in those European markets where IK itself has a recognised footprint. With this solid foundation in place, we look forward to collaborating with Peter and the team to develop the Company further.”

Robert Falk, Partner at Bencis, added: “Today marks a pivotal moment with the successful exit of Kooi. During our partnership since 2018, Kooi has seen an exceptional growth trajectory, thanks to the excellent collaboration with Pieter Kooi and the management team. Our journey with Kooi is a testament to a strong strategic partnership and visionary entrepreneurship resulting in an outstanding outcome. We are convinced that IK is the right partner for Kooi to further accelerate its growth and we are confident that Kooi will continue to play its market-leading role. We are proud to have been and continue to be part of this journey and are excited for what the future holds for Kooi.”

For further questions, please contact:

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

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2023-10-26
Press Releases

IK Partners to sell Aspia to Vitruvian Partners

IK Partners (“IK”) is pleased to announce that the IK VIII Fund has reached an agreement to sell Aspia AB (“Aspia” or “the Company”), a leading technology-enabled accounting, payroll, tax and advisory services company, to international investment firm Vitruvian Partners (“Vitruvian”). Financial terms of the transaction are not disclosed.

Aspia was formed in 2018 when IK’s flagship Mid Cap fund at the time, IK VIII, made a series of acquisitions starting with the Business Services division of PwC in Sweden and shortly followed by the Accounting and Payroll business of KPMG in Sweden and Independent Tax Advisor Skeppsbron Skatt. With the support of IK, Aspia has built a strong platform for future growth through: broadening its customer base across small, medium and large customers; expanding its service offering; enhancing its presence across the Nordics while also earning a reputation as one of the best places to work in the region. In addition, Aspia has become the most efficient technology-enabled advisory and outsourcing provider in Sweden, developing a set of industry-unique digital tools such as Aspia Go, MyBusiness, and Acture (ESG) that greatly enhance the quality of the services that Aspia is delivering to its customers.

Aspia’s management team, its partner group and employees are the foundation on which the Company’s success and positive culture is based. The cumulative efforts of each individual have enabled Aspia to become one of the most trusted service providers to the Swedish and Nordic business community.

Underpinned by the growing awareness of the mission critical nature of outsourcing services against the backdrop of an increasingly complex financial and regulatory environment, Aspia is benefiting from a rapid digitalisation trend. The Company is quickly becoming one of the most well-respected providers of technology-enabled outsourcing services delivered through a proprietary digital customer interface portal, with ample growth potential in both existing and new markets.

Together with Vitruvian, Aspia will continue its growth journey across multiple markets and service areas, in addition to further investing in the digital platforms available to its customers.

Ola Gunnarsson, CEO of Aspia, commented: “We would like to thank IK for their support, valuable insight and expertise over the past five years, which has allowed us to grow our customer base, service offering and reputation across the Nordic region. This successful partnership has given us an excellent foundation on which to further grow and develop. Our new owner, Vitruvian, has a strong track record of supporting growing companies in their service and product development as well as in their international expansion efforts. We are confident that Aspia, with the support of Vitruvian, will be able to continue accelerating its growth journey and benefit from their expertise in growth and technology-enablement.”

Alireza Etemad, Partner at IK and Advisor to the IK VIII Fund, added: “We are very proud of the role IK has played in creating one of the region’s leading technology-enabled advisory and outsourcing providers. In 2018, with the merger of three separate entities, we saw the potential for a new player in the market to cater to the specific needs of corporates across the Nordics through a combination of strong personal relationships, expertise and technology. Aspia’s growth over the past five years has been remarkable and we look forward to seeing their continued success. We wish Ola, his team and their new partners, all the very best for the future.”

Jussi Wuoristo, Partner at Vitruvian, commented: “As the financial and regulatory environment for businesses is becoming increasingly complex, Aspia has built an unrivalled combination of leading outsourcing services and digital tools to act as a trusted partner to companies in the Swedish and Nordic business community. We are excited to be partnering with the management team and partner group of Aspia to embark on the next exciting chapter of the Aspia journey.”

Completion of the transaction is subject to regulatory approvals.

For further questions, please contact:

Aspia
Pia Törnqvist
Phone: +46 (0) 706 897 659
pia.tornqvist@aspia.se

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

Vitruvian
Matthew Smallwood
Phone: +44 (0) 207 457 2020
matthew.smallwood@instinctif.com

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