Morning all, Craig McGlashan here with the Europe Wire from the London newsroom. It feels like the busiest morning for a while in terms of deal announcements – we’ve got a string to report for you. First though, while finance pros are well-versed in their maturity curves and J-curves, what about the roast curve? Verdane’s Dominik Schwarz talks us through his firm’s plans for coffee roasting software provider Cropster. Next we look at EQT and MiddleGround Capital wrapping up some take-privates. We’ve then got a flurry of fresh deals: - KKR taking a 25 percent stake in Enilive -A TPG-led consortium making a secondary investment in a European second-hand C2C fashion marketplace - Tikehau Capital and Carvest selling a French high-precision machining and mechanical grinding company - Oakley Capital agreeing to sell Schülerhilfe to Levine Leichtman Capital Partners - Keensight Capital-backed Nomios acquiring a UK cybersecurity services provider - Main Capital-backed Aunetic acquiring a Swedish provider of compliance software Community Businesses with committed fanbases – from sports to video games – are a big draw for private equity thanks to the stickiness of the customer base. One might think that ‘fanbase’ isn’t a term that would apply to professional B2B software – but it turned out to be the case when Verdane looked to invest in Cropster, partner Dominik Schwarz tells PE Hub’s Nina Lindholm this morning. Cropster, based in Tyrol, Austria, provides software to coffee professionals who produce, buy, roast and sell coffee through wholesale and retail channels, both online and offline. Find out more about the company's user base, Verdane's plans for the business and how new regulations could drive more product features in the premium version of the Wire. Game completed There’s few better places to find dedicated communities of users than in video games, as Carlyle Europe Technology Partners’ Andrew Tan told us about his firm’s exit from UK game developer Jagex a few months ago. EQT has also entered the sector, as its take-private of Dublin-headquartered Keywords Studioshas just completed after the firm’s shares were delisted from the London Stock Exchange. Read more in the premium version of the Wire. Vision Speaking of take-privates, MiddleGround Capital’s bid for Stemmer Imaging, a provider of machine and artificial vision products based in Puchheim, Germany, is nearing its end. Find out more in the premium version of the Wire. Mobility KKR has agreed to acquire a stake in Enilive, Eni’s mobility transformation company dedicated to biorefining, biomethane production, smart mobility solutions and providing services to support people on the move. Details including the stake size and valuation are in the premium version of the Wire. Fashion play A TPG-led consortium has made a secondary investment in Vinted, a European second-hand C2C marketplace focused on fashion. Investment size and valuation can be found in the premium version of the Wire. Engineering exit Tikehau Capital and Carvest have agreed to sell Groupe Visco, a French high-precision machining and mechanical grinding company, to Latour Capital. School’s out Oakley Capital has agreed to sell its majority stake in Schülerhilfe to Levine Leichtman Capital Partners. Cyber expansion Keensight Capital-backed Nomios has acquired Dionach, a UK cybersecurity services provider. Compliance Main Capital-backed Aunetic, a governance software company, has acquired Qnister, a Swedish provider of compliance software solutions that specializes in GDPR and whistleblowing services. OK that’s it from me today. Michael Schoeck will be in the US chair later today while Irien Joseph will be on Europe duty tomorrow. Cheers, Craig Read the full Wire commentary on PE Hub ... |