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Table of Contents
Add-on: Thoma Bravo
ServiceTitan Acquires Sales and Marketing Platform Convex
Present in the portfolio of Thoma Bravo, H.I.G. Capital, Battery Ventures, and Index Ventures, ServiceTitan ($577 million of revenue in 2023, California / USA), a cloud-based software platform designed to enable trade businesses to grow by providing them with tools to manage and develop their activities, manage the back office and deliver an impeccable customer experience, acquires Convex (California / USA), a sales and marketing platform specifically designed for companies in the trade services sector. The partnership between ServiceTitan and Convex will contribute to the implementation of a state-of-the-art solution that will enable commercial companies to grow profitably.
Acquisition: Arkea Capital
Home Automation Solutions Provider Delta Dore Welcomes Three Funds to its Capital
Arkéa Capital, Unexo and BNP Paribas Développement become minority shareholders in Delta Dore (c. €180 million of revenue in 2022, Bretagne / FRA), a home automation management company that manufactures and supplies automation solutions, mobile applications and services for the connected home, in particular for heating, lighting, alarms, shutters and gates. On this occasion, Schneider Electric (€35.9 billion of revenue in 2023, Île-de-France / FRA), a group specializing in the manufacture of energy management and automation products, sells its minority stake (nearly 20%) in the company. Alongside the Renault family, which remains the majority shareholder, the new investors will support Delta Dore in strengthening its industrial and commercial position in France and Europe.
Fundraising: Intermediate Capital Group (ICG)
ICG Announces Final Closing of ICG LP Secondaries I at $1 Billion
Intermediate Capital Group (ICG) announces the final closing of its ICG LP Secondaries I fund at its hard cap of $1 billion. The fund is dedicated to secondary transactions, particularly in the acquisition of interests in buyout funds owned by third-party private equity funds.
Exit: Eurazeo
Eurazeo Sells Ophthalmic Surgery Equipment Supplier DORC
Eurazeo announces the completion of the sale of its majority stake, held since 2020, in DORC (€142 million of revenue in 2021, South Holland / NLD), a supplier of instruments and equipment for ophthalmic surgery to surgical centers, hospitals and doctors. The company was acquired in full by Carl Zeiss Meditec (€2.1 billion of revenue in 2023, Thuringia / DEU), a company which develops and distributes ophthalmic materials and equipment for healthcare professionals.
