The Bolt-Ons Digest – 11 November 2022

Software

Hg and ICG's Iris Software, a British software provider of accountancy solutions, has acquired myPay Solutions, a peer that provides outsourced payroll services across the US. Hg and ICG invested in a GBP 1.3bn secondary deal in May 2018 via Hg Saturn Fund (2018) and ICG European Fund VII (2018). The GPs appointed Goldman Sachs and Arma Partners this summer to explore an exit.

Waterland's Enreach, a Netherlands-based unified communications provider, has acquired local peer Contict and Denmark-based Datel. Waterland formed Enreach in January 2018, the sponsor has been preparing to exit in Q2, as reported by Mergermarket.

August Equity's Agilio Software, a British software provider for dentists, has acquired InterShift Planning, a Dutch provider of scheduling software, which moves the portco into Europe. The deal is Agilio's sixth bolt-on since August acquired the company in November 2019 via August Equity Partners IV (2016). 

Providence's Node4, a British-managed services provider, has acquired Tisski, a local partner for Microsoft Business applications. The deal is the third bolt-on under Providence's ownership. The sponsor acquired the asset in March 2021 via Providence Equity Partners VIII (2018). 

Main Capital's BCS HR, a Netherlands-based HR software provider, has acquired two local rivals Tasper and Medisoft. The deal brings the total number of bolt-ons to three since Main Capital acquired the asset in April 2022. 

Livingbridge's RealVNC, a British remote access software group, has acquired RPort, a German peer. Livingbridge acquired RealVNC in August 2021 via Livingbridge 7 (2020).

Industrials

HIG Capital's Berardi Bullonerie, an Italian screws and bolts supplier, has acquired Clas, a local producer of protective equipment, Clas. HIG acquired Berardi Bullonerie in February 2022.

IDI and Andera Partner's Flex Composite Group, a French industrial composite manufacturer, has acquired Selcom, an Italian producer of technical fibres. The sponsors formed the group in 2015.

INVL's Eco Baltia, a Latvian waste management group, has acquired Pilsētas Eko Serviss, a local road maintenance specialist, to bring the group to EUR 150m in revenue. INVL acquired Eco Baltia in May 2020 via INVL Baltic Sea Growth Fund (2018).

Cairngorm Capital's PaintWell, a UK-based paint distributor, has acquired local peers Promain, which specialises in industrial paints, and Kent Blaxill Group, with tools for decorators. Cairngorm acquired PaintWell, then known as Bromborough Paint, in March 2021 via Cairngorm Capital Partners III (2019).

Media

Inflexion's Times Higher Education, a British higher education data provider, has acquired dataHE, a local peer that helps universities use data. The deal is THE's third bolt-on this year. Inflexion acquired the company in March 2019.

BC Partner's Keesing, a Dutch puzzle game maker, has acquired RCI Jeux and Sudoku Srl, two French and Italian peers. The deals total five bolt-ons since BC Partners acquired the company in November 2020 via BC European Capital XI (2020). 

Business services

Bain Capital's House of HR, a Belgian HR services group, has acquired ABMI and Agium, its peers in France and Belgium. These are company's first two bolt-ons since Bain's takeover in May and its 16th this year. Bain acquired 55% of House of HR in May 2022 via Bain Capital Europe V (2018). 

Healthcare

Advent's Mediq, a Dutch-based homecare provider, has acquired German diabetes care group DiaExpert in a carve-out from Ypsomed Group. Advent pulled a sale of Mediq in early 2021, in favour of refinancing. The GP acquired the company in September 2012 in a take-private via Advent International GPE VII (2012).

21 Invest's ProductLife, a French regulatory information provider to the pharmaceutical sector, has acquired Dutch peer Zwiers Regulatory Consultancy. The deal is the third bolt-on this year. 21 Invest acquired ProductLife in January 2019 via 21 Centrale Partners V (2018).

Eurazeo's DORC, a Dutch medtech provider for the ophthalmology sector, has acquired Peregrine Surgical, a key supplier based in the US. Eurazeo acquired DORC in March 2019 via Eurazeo Capital IV (2019).

Technology

Naxicap's Onedirect, a French telecoms equipment provider, has acquired Wipple, a local peer that helps businesses equip meeting rooms. Naxicap acquired Onedirect in March 2016.

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• Topics
• GPs
• Expansion
• Healthcare
• Support services
• Industrials
• Media
• Technology
• August Equity LLP
• HgCapital
• Main Capital
• Providence Equity Partners
• Livingbridge
• Waterland Private Equity
• HIG Capital
• Cairngorm Capital
• IDI
• Andera Partners
• Inflexion Private Equity
• Bain Capital
• Advent International
• 21 Centrale Partners
• Eurazeo
• Naxicap
• BC Partners