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Table of Contents
Add-on: Intermediate Capital Group (ICG)
IRIS Software Group Acquires HRTech Company Swipeclock
Backed by Intermediate Capital Group (ICG), Leonard Green & Partners, and Hg, IRIS Software Group (£319 million of revenue in 2023, South East / ENG), a provider of financial management, human resources and payroll software and services to accountancy firms, educational establishments and charities, acquires Swipeclock (Utah / USA), a technology company providing people management solutions for small and medium-sized businesses. By acquiring Swipeclock, IRIS enhances its offering of integrated human capital management (HCM) solutions, particularly in terms of payroll, human resources, recruitment and talent management. Following this transaction, Swipeclock will operate as an independent company within IRIS Software Group.
Acquisition: Castik Capital
Castik Capital Acquires Precision Parts Manufacturer Andra Tech Group
Castik Capital announces the acquisition of a majority stake in Andra Tech Group (€91 million of revenue in 2022, North Brabant / NLD), a company which operates factories manufacturing metals, resins as well as various precision parts of high quality for companies in the automotive, aerospace, electronics, machine and equipment construction, chemical and food industries. Following this transaction, Equistone Partners, former majority shareholder, will retain a minority stake in the company. Castik Capital and Equistone Partners will help Andra Tech Group expand its capabilities and competencies, while strengthening its position to become a leading international manufacturer of high-tech precision components and submodules.
Financing: Capza
Artemid Backs Industrial Boiler Manufacturer Babcock Wanson
CAPZA announces that its Artemid fund has participated in the arrangement of senior financing for Babcock Wanson group (c. €250 million of revenue in 2023, Île-de-France / FRA), a manufacturer and supplier of industrial boilers and associated services. Through this financing, Artemid will support the growth and expansion of the company’s offerings and services. As a reminder, Babcock Wanson is also a portfolio company of IRDI Capital Investissement and Cerea Partners.
Exit: 3TS Capital Partners
Sport Alliance Acquires Fitness Club Management Software Developer PerfectGym
Backed by PSG Equity, Sport Alliance (Hamburg / DEU), a cloud platform that facilitates access to sport by digitizing the fitness industry, has acquired PerfectGym (Masovia / POL), a company specializing in the development of club management software fitness. This transaction represents a successful exit for PerfectGym’s financial investors, including 3TS Capital Partners, Innovation Nest, Ipopema FIZ, Alfabeat and Daftcode.
