Current investments

  2Connect
Country

Netherlands

Sector

Industrial goods

Acq. date

Nov/18

2Connect

2Connect is a leading manufacturer of specialised cables and connectors, designing, developing and producing tailored interconnection solutions for OEM and ODM customers worldwide.

The product portfolio includes specialised designed cables, molded connectors, electronic packaging and interconnection modules.

Founded in 2000, the company prides itself on setting new standards for interconnection solutions by designing high quality and cost-effective units in close cooperation with its long-term client base.

Country

Netherlands

Value creation strategy
  • Continue to grow share of wallet with its current customer base
  • Intensified focus on new customer acquisition
  • Broaden end-markets applications within adjacent niche segments
  • International expansion
Investment history
  • The IK Small Cap II Fund acquired 2Connect in November 2018 from the van der Put family
  Alanta Health Group
Country

Germany

Sector

Care

Acq. date

Dec/16

Alanta Health Group

Alanta Health Group is one of the largest industrially organised §13 AMG  (‘Arzneimittelgesetz’) certified compounders for patient-individualised infusions applied mainly in oncology treatment in Germany.

Alanta Health Group is based in Hamburg, where it runs a state-of-the-art compounding facility.

Country

Germany

Value creation strategy
  • Leverage leading market position to increase sales and market penetration
  • Drive consolidation of the compounding market
  • Build an integrated healthcare group
Investment history
  • Acquired December 2016
  Ampelmann
Country

Netherlands

Sector

Business services

Acq. date

Aug/13

Ampelmann

Ampelmann is a high-tech offshore company focusing on development, construction and rental of offshore access solutions. The company was founded in 2008 as a spin-off of the Delft University of Technology.

The core technology is the Ampelmann system, a motion compensated gangway system that allows easy, fast and safe access from a moving vessel to offshore structures, even in high wave conditions. With a doubling of the fleet every year since 2008, Ampelmann currently operates approximately 35 systems world-wide transferring offshore crew from various types of vessels to offshore oil & gas platforms, offshore turbines, FPSO's and all other fixed and floating structures at sea.

Ampelmann  is headquartered in Delft,  Netherlands.

Country

Netherlands

Value creation strategy
  • Institutionalise the business
  • Increase organic growth
  • Expansion among existing client base
  • Increase penetration in overseas markets
Investment history
  • Acquired in August 2013
  APOSAN
Country

Germany

Sector

Care

Acq. date

Oct/16

APOSAN

APOSAN was founded in 1991 with the purpose to service homecare patients through the compounding of individualised infusible and injectable medication. Since then, the company has evolved to an integrated full-range pharmaceutical homecare supplier with its own manufacturing capacities and a dedicated key account management and homecare nurses team to generate and support its growing nationwide patient base.

The APOSAN group of companies is organised in three main business segments: pharmaceutical homecare, providing services to patients that require long-term infusion to diseases; classical homecare, providing standard enteral nutrition solutions as well as selected standard medical devices; and ophthalmic injectables.

APOSAN is headquartered in Cologne, Germany, and serves over 10,000 patients per year.

Country

Germany

Value creation strategy
  • Organic growth in existing indications and homecare antibiotic treatments
  • Grow intraveneous product portfolio and further expand into adjacent areas in homecare
Investment history
  • Acquired from the founder October 2016
  Aspia
Country

Sweden

Sector

Business services

Acq. date

Jul/18

Aspia

Aspia is one of the leading companies in accounting, payroll and related advisory services with 71 offices and approximately 1,100 employees across Sweden.

Aspia, which previosuly operated as a separate division within PwC Sweden, supports over 27,000 small and medium-sized enterprises (SMEs). 

Country

Sweden

Value creation strategy
  • Continued organic growth and market share gains from increased penetration in the urban areas of Sweden
  • Potential to add further services and cross-sell to the large customer base of SMEs
  • Pursue growth through M&A
Investment history
  • Aspia was carved out from PwC Sweden in July 2018
  Auxiga Group
Country

France

Sector

Business services

Acq. date

Jul/15

Auxiga Group

Since its establishment in 1919 in Belgium and 1975 in France, Auxiga Group has been a bank guarantee expert, drawing up structured and flexible credit facilities using inventories as collateral.

The Group operates through four business units: Auxiga and Sofigarant, which are the leading providers of pledge inventory services in France, Warrant, which provides the same services in Belgium and Auxicontrol, a specialist in asset control and floor check services.

Auxiga Group provides an unparalleled know-how and a complete range of services for each phase of pledge financing, from the setup of the security agreement to the dayto-day monitoring of the pledged assets.

Country

France

Value creation strategy
  • Develop synergies between the different entities of the Group
  • Expand service offering
  • Enhance capabilities to capture future market potential
  • Accelerating growth opportunities through a dynamic commercial strategy
Investment history
  • Acquired by the IK Small Cap I Fund in July 2015
  Bahr Modultechnik
Country

Germany

Sector

Industrial goods

Acq. date

May/18

Bahr Modultechnik

Bahr Modultechnik is a leading manufacturer of modular positioning systems, focused on delivering individual solutions based on a sophisticated portfolio of customisable and technologically leading products.

Accurate and robust positioning systems are required in a wide variety of industries from mechanical engineering to medical technology. The company’s unique linear positioning systems are sold in more than 20 countries around the globe.

Country

Germany

Value creation strategy
  • Enhance the sales organisation to unlock growth potential with existing customers and gaining of new customers
  • Further expansion into new end markets with the current product offering as well as with newly developed products
Investment history
  • The IK Small Cap II Fund acquired Bahr Modultechnik from the founders in May 2018
  Carspect Group
Country

Sweden

Sector

Consumer goods

Acq. date

Aug/18

Carspect Group

Carspect Group (which includes Carspect AB, SIA Scantest, Autotest Polska Sp. Z.o.o and A-Ülevaatus OÜ) is a leading provider of vehicle inspection services in Northern Europe.

With a network of 375 employees and 106 stations, the Group is a leading provider of vehicle inspection services in Sweden, Estonia, Latvia and Poland.

Its service offering includes Periodic Technical Inspections (PTI), registration inspections, voluntary checks and related services for passenger cars, light trucks, buses and lorries.

Country

Sweden

Value creation strategy
Investment history
  • Acquired from A-Katsastus Group Oy in August 2018
  Cérélia Group
Country

France

Sector

Consumer goods

Acq. date

Jul/15

Cérélia Group

In 2012, the merger of EuroDough and L'Alsacienne de Pâtes Ménagères (APM) created Cérélia Group, bringing together nearly 40 years of experience. Today, Cérélia is a leading European manufacturer of ready-to-use dough mainly through private label and via two own brands, generating sales of EUR 212 million in 2014.

Cérélia Group has a wide product range that includes rolled pie dough, pizza dough, exotic dough, pastries, cake batter and organic dough, selling its products both through private labels and its own brands Croustipate and Pop! Bakery. In total the company has four production plants and 650 employees.

Cérélia Group is headquarted in Liévin, France.

Country

France

Value creation strategy
  • Expand into adjacent segments through various innovation projects
  • Buy-and-build to accelerate European expansion and product range diversification
  • Continuous operating improvement
Investment history
  • Acquired in July 2015 from Sagard, the majority shareholder since 2012, Capzanine, Cerea Capital and BNP Développement
  CID LINES
Country

Belgium

Sector

Care

Acq. date

Jan/16

CID LINES

CID LINES is a leading developer and producer of cleaning agents and disinfectants for the agricultural, food, vehicle care and institutional sectors.

With a network of over 750 distributors and importers, the company exports its solutions to more than 90 countries. CID LINES offers its customers a complete product range, integrated solutions and know-how combined with technical advice.

Over the past years, CID LINES has continued to realise strong growth across all of its segments, supported by an increasing awareness of food safety and use of hygiene products to guarantee safe food throughout the food chain.

The Company is headquartered in Belgium, with an additional production site in Poland to serve Eastern Europe.

Country

Belgium

Value creation strategy
  • Optimise full potential in existing footprint by increasing market shares though superior commercial excellence
  • Acceleration of geographical coverage by entering and/or further penetrating high growth agricultural markets
  • Selective buy and build strategy to further accelerate geographical growth and/or add complementary products to its existing portfolio
Investment history
  • Acquired from Gilde Buy Out Partners in January 2016
  Colisée
Country

France

Sector

Care

Acq. date

Jun/17

Colisée

Colisée is a leading provider of nursing home and homecare services, employing more than 8 000 people. With more than 115 nursing home facilities and more than 70 home care services agencies, the group has developed a geographical footprint across France, Italy, Spain, and more recently in China.

Country

France

Value creation strategy
  • Organic growth and build-ups in France in the Nursing Home segment
  • Expansion in Italy and operational improvement in the French and Italian Nursing Home platforms
  • Buy-and-build in Continental Europe in Nursing Home and development of Homecare in France
Investment history
  • Acquired from Eurazeo in June 2017
  Debitor Inkasso
Country

Germany

Sector

Business services

Acq. date

Nov/17

Debitor Inkasso

Debitor Inkasso is a German mass debt collection agency focused on recovering overdue claims and debts on behalf of its clients, primarily in the e-commerce/social media, insurance and publishing industries.

With a highly automated and continuously refined collection process as well as a broad communication platform (including modern communication channels such as email, WhatsApp and SMS), Debitor Inkasso acts as a link between its customers and their debtors, and is renowned as a reliable and trustworthy partner in the sector.

Country

Germany

Value creation strategy
Investment history
  • Acquired by the IK Small Cap I Fund from Hubert Burda Media Group in November 2017
  DGI
Country

Netherlands

Sector

Industrial goods

Acq. date

Sep/11

DGI

In the field of hydraulics, pneumatics, instrumentation and controls, DGI Group has built up a leading position in the Oil & Gas, Maritime & Dredging and High-End Machine Building industries. Because of its specific knowledge and effective working method, DGI supplies worldwide on request for many tier 1 clients the complete management for their projects: from advising, customer specific system engineering & procurement to installing, commissioning and maintenance.

Since 1879 DGI has grown into a modern, innovative company with branches in the Netherlands (headquarter), Europe, the US, Middle East and Asia.

Country

Netherlands

Value creation strategy
  • Organic growth via leveraging of strong market position in growth markets
  • International expansion through organic growth and add-on acquisitions
  • Improvement of end market focus with realisation of associated cost efficiencies
Investment history
  • Acquired in September 2011
  Domia Group
Country

France

Sector

Consumer goods

Acq. date

May/18

Domia Group

Domia Group is the owner of the French number one player in the private tutoring market (Acadomia) and the French fast-growing home cleaning provider (Shiva).

Acadomia is the leading player in the primary, secondary, higher-education and test-prep tutoring markets (at-home, centres and online). Since 1989, Acadomia and its employees have continuously innovated to offer quality learning experiences to more than 1 million families across different geographies, backgrounds, subjects and learning needs. Acadomia now operates a network of 100 agencies and 20,000 tutors dedicated to help over 90,000 students per year meet their academic goals and enhance their educational life. Acadomia is recognised for its unrivalled brand awareness, its customer-satisfaction ratings and the proven academic success of its students.
 
Shiva is one of the leading and the fastest-growing actors in the home cleaning market. Through its network of 165 franchised agencies, Shiva helps its 45,000-strong client-base to improve their quality of life by taking care of their house cleaning on a regular basis thanks to a unique network of 8,000 selected, trained and highly-experienced maids. Shiva is contributing to transform the highly fragmented home cleaning market by delivering a high-quality hassle-free interior experience.

Country

France

Value creation strategy
Investment history
  • Acquired from Metric Capital in May 2018
  Ellab
Country

Denmark

Sector

Industrial goods

Acq. date

Aug/16

Ellab

Ellab is a leading global supplier of solutions for measuring, recording, monitoring and validating critical parameters of thermal processing, selling its products in over 65 countries across the globe.

The company offers a wide product range of high-precision systems for temperature, pressure and humidity monitoring and validation based on either data loggers or wired thermocouple instruments.

Ellab’s products are used by the pharmaceutical and food industry as well as hospitals, where accurate and complete supporting validation documentation is essential.

Country

Denmark

Value creation strategy
  • Continued organic growth through further market share gains in the pharma segment
  • Invest in organic expansion of the validation services market
  • Investigate merits of entering adjacent validation industry verticals
  • Pursue growth through M&A of identified targets
Investment history
  • Acquired in August 2016 by the IK VIII Fund
  Exxelia Group
Country

France

Sector

Industrial goods

Acq. date

Dec/14

Exxelia Group

Exxelia Group is a leading designer and manufacturer of customised passive components. For more than 50 years, Exxelia has been developing products with the highest level of reliability to meet the requirements of aerospace, defence, rail, medical, oil & gas and telecommunications blue-chip customers. The group’s ability to produce products that combine extreme technical performance, quality and flawless reliability has established Exxelia as an international leader within its field.

Exxelia Group markets its products under various brands to reflect its multi-technology positioning: Eurofarad, Dearborn, Microspire, Firadec, Sic Safco, Temex Ceramics, Astema and Vertura. All together the group employs over 1,200 employees, and operates in Europe, the US, Asia and Africa.

Exxelia is headquarted in Paris, France.

Country

France

Value creation strategy
  • Focus on continued internationalisation of the group
  • Increase penetration in the US and expand the footprint in Asia
  • Buy and build opportunity to consolidate the market
Investment history
  • Acquired in December 2014 from LBO France
  Hansen Protection
Country

Norway

Sector

Business services

Acq. date

Jul/13

Hansen Protection

Hansen Protection AS is a leading provider of specialist survival suits for extreme weather conditions and sole provider of rental transport suits to energy companies in the Norwegian Continental Shelf region.

The company operates a rental and service model based out of six helicopter sites in Norway, one in Denmark and two in Canada. Additional business activities include specialised survival suits for personal protection (immersion suits, work suits, life jackets), specialty textile products, mainly for the oil and gas, defence and agriculture segment, and marine products such as boat canopies.

Hansen Protection is headquartered in Moss, Norway.

Country

Norway

Value creation strategy
  • Continue growth of the rental business
  • Develop growth strategy for the personal protection business
  • Re-focus special products to oil services and execute pricing initiatives
Investment history
  • Acquired in July 2013
  iad
Country

France

Sector

Business services

Acq. date

Sep/16

iad

Founded in 2008 with the ambition to offer an alternative way of buying and selling residential property, iad is a fast-growing digital platform offering a large range of value-added support services to independent real estate agents.

The company has demonstrated a stellar track record of organic growth since inception and has grown to become the largest network in France with ca. 3,200 local agents and over 11,800 transactions intermediated during 2015.

Country

France

Value creation strategy
  • Further penetrate the French market
  • International expansion by developing the company in neighbouring countries organically or through acquisitions
  • Development in adjacent segments, especially property rental and rental management
Investment history
  • In September 2016, the IK VII Fund acquired a majority stake in iad, alongside Five Arrows Principal Investments, from founders and Naxicap Partners
  KLINGEL medical metal
Country

Germany

Sector

Industrial goods

Acq. date

Jul/18

KLINGEL medical metal

Klingel medical metal is  a leading independent contract manufacturer of high-precision, hard-to-machine parts made from titanium and high-grade types of stainless steel.

The company operates a vertically integrated business model with in-house capabilities spanning the entire production value chain from design to manufacture to final packaging with a strategic focus on medical technology.

KLINGEL’s high precision components go into various orthopaedic, cardiovascular and dental implants as well as instruments for endoscopy and robotic surgery. Working in partnership with its OEM customers across the medical technology as well as measurement and control industries, KLINGEL has gained a reputation for uncompromising quality. 

Country

Germany

Value creation strategy
  • Organic growth with existing and new customers focused on the med tech segment
  • Targeted M&A to gain access to new customers and expand the product portfolio
  • Expansion into new geographies
Investment history
  • Acquired from Halder in July 2018
  Linxis Group
Country

France

Sector

Industrial goods

Acq. date

Oct/17

Linxis Group

LINXIS Group is a global leading manufacturer of industrial equipment for the food, pharmaceutical, cosmetic and dairy industries.

Founded in 1988, the Group offers state-of-the-art service and solutions through its six companies. LINXIS’s strength stems from its global footprint, strong focus on innovation and R&D and industry-leading product designs which provide maximum value to their customers.

Country

France

Value creation strategy
  • Organic growth in the bakery, pharma and cosmetics segments through continued growth in core geographies, cross-sell opportunities in the US following the acquisition of Shick and footprint development in fast-growing emerging markets
  • Improve operations via increased share of after sales revenues and the extraction of procurement synergies
  • Selective buy-and-build strategy in Europe, the US and Asia
Investment history
  • The IK VIII Fund acquired LINXIS Group, then Bretèche Industrie, from Equistone Partners Europe in October 2017
  Løgismose Meyers
Country

Denmark

Sector

Consumer goods

Acq. date

Jan/15

Løgismose Meyers

L+M is the merger of Løgismose and Meyer which are two of the strongest and most recognised high-end food brands in Denmark offering a wide range of gourmet food products and services across various channels including retail distribution, food service, B2B wholesale and selected own outlets 

L+M is headquartered in Copenhagen, Denmark.

Country

Denmark

Value creation strategy
  • Realising growth potential
  • Realising synergies
  • Selected add-on acquisitions
Investment history
  • Acquired in January 2015
  Mademoiselle Desserts
Country

France

Sector

Consumer goods

Acq. date

Jul/18

Mademoiselle Desserts

Established in 1984, Mademoiselle Desserts has grown to become the leading manufacturer of premium frozen industrial finished and semi-finished pastry in Europe.

Through its manufacturing sites in France, the UK and the Netherlands and highly experienced teams, the Group works closely with its customers to develop bespoke desserts to the highest food standards.

Country

France

Value creation strategy
  • Build-up market leadership in France and the UK via acquisitions
  • Development of new products / segments and focus on implementation of synergies
  • Active M&A strategy in Europe and the US
Investment history
  • Acquired from Equistone in July 2018
  Marle
Country

France

Sector

Care

Acq. date

Jun/16

Marle

Established over 30 years ago as a family business, Marle has become a major company in the orthopaedic industry. The company provides specialised manufacturing services for the production of a wide range of hip, knee, shoulder, spine and extremities implants as well as orthopaedic instruments of the highest quality.

Covering the full scope of the manufacturing value chain and benefiting from remarkable R&D capabilities, Marle acts as a strategic partner to medical technology companies worldwide and delivers over 1 million products annually. Marle serves orthopaedic implant OEMs across Europe, the US, Latin America, Russia, Japan, Korea and China.

Country

France

Value creation strategy
  • Leverage existing client base and further develop a one-stop-shop offering
  • Expand activity worldwide and notably in the US either organically or via acquisitions
  • Pursue operational efficiency gains
Investment history
  • Acquired by the IK VII Fund from the Carlyle Group in June 2016
  Messerschmitt Systems
Country

Germany

Sector

Industrial goods

Acq. date

May/17

Messerschmitt Systems

Founded in 1994, Messerschmitt Systems has gained a reputation for combining system integration and product design, providing its clients with cutting-edge solutions which increase guest comfort and save energy.

The company’s multifunctional ‘Room Management Systems’ and innovative ‘Access Control Systems’ are trusted by more than 2,000 hotels worldwide.

Founded by Hartmut Messerschmitt, the company has grown into a leader within its niche with a fully integrated value chain from development, engineering and manufacturing to supply, installation and the related aftersales market.

Country

Germany

Value creation strategy
  • Organic growth in existing key regions (Germany and Middle East) by expansion of sales force and broadening/intensifying international reach into adjacent European geographies
  • Strategic development and growth of aftermarket business (development of concept related to maintenance/service contracts, hotline, etc.)
  • Continued product development and innovation
Investment history
  • Acquired by the IK Small Cap I Fund in May 2017
  Netel
Country

Sweden

Sector

Business services

Acq. date

Jul/16

Netel

Netel is a leading Nordic service provider for communication and electrical networks, offering services ranging from planning and project management to design and maintenance.

With its project management focus, extensive sub-contractor network, and entrepreneurial heritage and culture, the company acts as a collaborative partner to telecom operators, network owners, property owners, construction companies, housing companies and cooperative housing associations.

Headquartered in Stockholm, Netel has around 340 employees and generated pro forma revenue of approximately MSEK 1,500 in 2015.

Country

Sweden

Value creation strategy
  • Organic growth in existing core segments (fixed and mobile telecom)
  • Further diversification into adjacent segments and geographies
  • Selective add-on acquisitions
  • Operational improvements
Investment history
  • Acquired from Axcel in July 2016
  OpenSolution
Country

Sweden

Sector

Business services

Acq. date

Jun/16

OpenSolution

OpenSolution is a leading Nordic payment solution provider. Headquartered in Gothenburg, the company offers a full service product and software portfolio to its client base, including restaurants, casinos, arenas and other customer verticals.

With its in-house development capabilities and strong focus on innovation, OpenSolution can offer the entire value chain of payment solutions, making it a single point of contact for >8,000 customers throughout Scandinavia.

Country

Sweden

Value creation strategy
  • Continue to penetrate current customer verticals, locally as well as in the Nordic market
  • Continuous focus on product development and innovation
  • Strengthen organisation to support growth and potential expansion to other European markets
  • Selectively evaluate and pursue add-ons
Investment history
  • Acquired from the founder in June 2016
  Optimum Group
Country

Netherlands

Sector

Business services

Acq. date

Jan/18

Optimum Group

Optimum Group is a printer of self-adhesive labels, banding and shrink sleeves, primarily serving the food and retail market. The Group operates through five printing facilities, of which four in the Netherlands and one in Belgium.

Optimum is active in the faster-growing segments within the Benelux labelling market, which is estimated to be worth approximately €700 million. In particular, the Group focuses on the food labelling market, which has grown by over 5% year-on-year. Optimum has a broad offering but is looking to expand its technological capabilities, such as inkjet technology, and end-market coverage in the food, beverage, chemicals, pharmaceutical and logistics sectors.

Country

Netherlands

Value creation strategy
  • Expansion in specialty labels and digital printing technologies
  • Increased system integration of historical build-ups
  • Drive centralisation to extract synergies
  • Continue buy-and-build to consolidate the Benelux market and expand abroad
Investment history
  • The IK VIII Fund acquired Optimum Group from Mentha Capital and the founders in January 2018
  Pinard Emballages
Country

France

Sector

Industrial goods

Acq. date

Jul/17

Pinard Emballages

Founded in 1970, Pinard Emballages specialises in the design, development and manufacturing of high-end plastic bottles mainly for the cosmetics, fragrance and personal care markets. Its product portfolio mainly comprises standard plastic bottles as well as custom bottles tailored to clients’ specific needs.

The Company is recognised as a trusted supplier to several French as well as and internationally prestige brands because of its technical know-how, product quality and service level. Managed by brothers Thomas and Pierre-Olivier Pinard, the family business employs approximately 90 people and operates two production facilities and a logistics site close to Oyonnax, in the heart of France’s “plastic valley”.

Country

France

Value creation strategy
  • Acquired in July 2017
Investment history
  • Continued organic growth in its core market leveraging its existing customer base and gaining new customers in France and on export markets
  • Address adjacent opportunities via buy-and-build to secure decoration capabilities, gain further technical capabilities and build capacity in other geographies
  • Maintain operational excellence and protect margin level and cash generation
  Questel
Country

France

Sector

Business services

Acq. date

Jul/18

Questel

Questel offers IP Business Intelligence software allowing advanced research and analysis of patents, trademarks and designs, IP Asset Management platform as well as international filing administrative services. 

Established in 1978 and trusted by 3,000+ companies and 100,000 users worldwide, Questel’s solutions target a large audience in business development, R&D, legal, financial and licensing departments.

Country

France

Value creation strategy
  • Support organic growth in its core segments (BI software and filing services) in all geographies
  • Cross-selling opportunities across all segments primarily in Europe and the US
  • Build-up, both strategic and bolt-ons, in filing, annuities, docketing and translation services
Investment history
  • The IK VIII Fund acquired Questel from Capzanine, Raise, Questel’s founders and management team in July 2018
  Salad Signature
Country

Netherlands

Sector

Consumer goods

Acq. date

Jan/16

Salad Signature

Salad Signature is a leading branded food franchise in the fresh categories of spreads, dips and salads, selling its products through its own brands and private label.

The Company’s core markets are the Netherlands and Belgium, with an emerging international presence in Northern Europe (incl. France, Scandinavia, UK, Germany and Poland).

In 2015, Salad Signature generated revenue of €176 million with approximately 490 employees.  

Country

Netherlands

Value creation strategy
  • Leverage the strong brands as well as private label positions
  • Grow and develop adjacent categories in core markets
  • Drive international expansion both organically and through acquisitions
Investment history
  • Acquired from AAC Capital in January 2016
  SCHEMA Group
Country

Germany

Sector

Business services

Acq. date

Dec/18

SCHEMA Group

Founded in 1995, SCHEMA provides sophisticated component content management system (CCMS) software for creating modular documentation in technical content and other editing contexts and targets a broad range of different global industries such as engineering, pharmaceuticals and medical technology.

CCMS solutions are required to efficiently master the high complexity when writing, managing, and publishing product-related content while at the same time ensuring process security. The software addresses the increasing global complexity created by tightening of regulations, digitalisation and globalisation trends as well as shorter product lifecycles.

SCHEMA is an innovation leader and has set international industry standards regarding the range of features and standardisation of CCMS over the last 20 years. Its products enable customers to realise substantial cost and time savings and increase the content processes efficiency.

Country

Germany

Value creation strategy
  • Upselling opportunities and increased customer penetration
  • Roll-out of new content delivery solution (CDS)
  • Expansion into new end-industries and international markets
  • Strategic add-on acquisitions
Investment history
  • Acquired from the founders in December 2018
  SCHOCK
Country

Germany

Sector

Consumer goods

Acq. date

Dec/16

SCHOCK

As the original inventor of the manufacturing technology commonly used in the production of granite sinks, SCHOCK has gained a reputation for innovation, quality and technological excellence. The company has over 90 patents and a 21% global market share in granite kitchen sinks.
 
Based on a quartz-acryl composite developed by SCHOCK, the company’s premium product is three times as hard as natural granite and superior in product performance to sinks made from other materials.
 
SCHOCK is headquartered in Regen, Bavaria, and employs approximately 400 people.

Country

Germany

Value creation strategy
  • Organic growth in existing and new markets (US & China)
  • Expand product portfolio, increase cross-selling of faucets and accessories
  • Improve efficiency of production and leverage scale effects
Investment history
  • Acquired from HQ Equita in December 2016
  Studienkreis
Country

Germany

Sector

Consumer goods

Acq. date

Dec/17

Studienkreis

Since its inception in 1974, Studienkreis has developed into one of the leading providers of tutoring services on the German market.

Operating a dense network of over 1,000 learning centres, Studienkreis offers small group tutoring to c. 60,000 primary and secondary school students across Germany, covering all common subjects as well as special preparatory courses for pre graduation exams. The Company has further developed a true online offering, comprising the Studienkreis App supporting students with their homework and tutoring schedule.

Renowned for its high quality tutoring services as well as proven learning concept – developed and refined over 40 years, Studienkreis benefits from high brand awareness and customer satisfaction in the German market and has continuously been certified by various testing institutes.

Country

Germany

Value creation strategy
Investment history
  • In December 2017, the IK Small Cap I Fund acquired Studienkreis from Aurelius Equity Opportunities
  TeleComputing
Country

Norway

Sector

Business services

Acq. date

Mar/16

TeleComputing

TeleComputing is a leading provider of centralised IT operations, outsourcing and system integration in the Nordic SME market. As IT environments are becoming increasingly complex and critical to business management, TeleComputing has successfully built a leading position by making IT easy for its customers, offering flexible and scalable IT operations solutions.

The TeleComputing group employs approximately 900 people across eight locations in four countries and serves more than 800 corporate customers with over 80,000 end-users in the Nordic region.

Country

Norway

Value creation strategy
  • Leverage the company’s strong position in the Nordic market to continue organic growth
  • Develop value proposition and make operational improvements
  • Strategic add-on acquisitions
Investment history
  • Acquired from Ferd Capital in March 2016
  Third Bridge
Country

United Kingdom

Sector

Business services

Acq. date

Aug/17

Third Bridge

Third Bridge is a fast-growing primary research provider with a global footprint. The company provides its clients with unique insights into companies and markets through access to industry experts and market research. By leveraging its internal expert base and utilising its research analysts, Third Bridge can identify the most appropriate experts based on the client needs.
 
Serving a client base of over 300 customers, including private equity funds, consulting firms, hedge funds and corporates, Third Bridge has a global footprint, with six offices covering America, Asia and Europe. Since inception in 2007, the company has doubled its turnover every two years, and now employs more than 550 people.

Country

United Kingdom

Value creation strategy
  • Reinforcement of presence in high-growth European and Asian markets
  • Market share gains in the US
  • Margin improvement through operational leverage, benefitting from scale effect
  • Development of new offers based on proprietary content to address the equity research opportunity
Investment history
  • IK Small Cap I Fund acquired a minority stake from the founders and Beringea in August 2017
  VPS
Country

Norway/Netherlands

Sector

Business services

Acq. date

Oct/13

VPS

VPS is a leading provider of fuel testing and inspection services, working with ship owners, managers, charterers and other customers around the world. IK acquired VPS as a carve out from Norwegian company DNV (Det Norske Veritas Group).

The company operates within two main segments, Fuel Quality Testing (FQT) and Bunker Quantity Surveys (BQS).

With four fuel laboratories strategically located in Fujairah, Houston, Rotterdam and Singapore, and with access to 150 key ports worldwide for bunker quantity surveys as well as round-the-clock technical assistance. VPS has the expertise and infrastructure to provide ship owners with cost-efficient fuel solutions and ensure compliance with regulatory requirements. Known and respected throughout the maritime industry, it has a commanding market share in its niche and operates in an expanding industry with an attractive and scalable business model.

VPS is headquartered in Rotterdam, Netherlands. 

Country

Norway/Netherlands

Value creation strategy
  • Realising significant cost savings post separation from DNV
  •  Increase lab efficiency and optimise cost structure
  • Target additional potential from entering into adjacent service areas and customer segments organically as well as through add-on acquisitions
Investment history
  • Acquired in October 2013