Bridgepoint makes play for Groupe Sinari

Looks like September is off to a good start as PE Hub Europe was busy covering a lot of interesting deal announcements this week.

Kicking off things, I have some deal news involving Bridgepoint Development Capital which has bagged a majority stake in a French logistics software provider.

I will then highlight few deals I found interesting this week.

In an ‘add-on’ special week, we saw the technology sector leading the way with five add-on announcements. The deals include Bain Capital-backed Rocket Software acquiring a German software company, HIG Capital-backed ICG Group buying a Dutch telecommunications company, Advent and Warburg Pincus-backed Encora’s acquisition of a Romanian software engineering services provider, I Squared Capital’s nLighten buying an edge computing platform, and Battery Ventures-backed VertiGIS’ investment in a software company.

Logistics

Bridgepoint Development Capital (BDC) acquired a majority stake in Groupe Sinari, a French software provider to the road freight transport and logistics sector, alongside its existing shareholders New Alpha Verto and management.

BDC will support the group in accelerating its international development and developing in new vertical markets, according to a release.

“We are particularly sensitive to the projects of companies supported by our investments, and Sinari’s project to reduce CO2 emissions, thanks to its telematics and route optimisation solutions, echoes the values we support,” said Thomas Moussallieh, director, BDC.

Groupe Sinari has offices in France and Belgium. It has revenues amounting to almost €40 million.

BDC is part of the Bridgepoint Group.

(Note: Bridgepoint owns PEI Group, the publisher of PE Hub Europe.)

Rocket and BOS

First up in tech add-ons, we have Bain Capital’s portfolio company Rocket Software acquiring BOS, a German software company that provides data integration services.

BOS’ flagship product tcVISION, now known as Rocket Data Replicate and Sync, will be added to Rocket Software’s portfolio of modernisation products that add scale, flexibility and security to an organisation’s existing infrastructure, according to a release.

“By bringing BOS into the Rocket Software family, our customers will have the unique capability to seamlessly replicate data between the cloud and mainframe, allowing them to modernise in place to accelerate and optimise their journeys and meet the evolving needs of the market,” said Milan Shetti, president and CEO of Rocket Software.

Strengthening position

ICG Group, backed by HIG Capital, acquired TripleA Networks, a Dutch telecommunications company.

Aalten-based TripleA received investment from HIG in 2021.

“With the acquisition of TripleA, we are further strengthening our position as market leader for tower solutions,” said Vladimir Suznjevic, MD, ICG Group. “Technologies such as Industry 4.0, autonomous driving and AI require a significant increase in density of digital infrastructure. For this, the bundling of mobile communications, fibre-optic and power infrastructure is required.”

Critical digital engineering services

Encora, backed by Advent International and Warburg Pincus, acquired Softelligence, a Romanian software engineering services provider.

Softelligence, based in Bucharest, will operate under the Encora brand.

The acquisition will establish Encora’s first delivery centres in Europe and enhances its ability to deliver nearshore services to clients in the Americas, Asia, Australia and Europe, according to a release.

Warburg Pincus invested in Encora in 2019 and Advent acquired a majority stake in 2021.

Edge platform

nLighten, a digital infrastructure platform of I Squared Capital, acquired Proximity Data Centres, an edge platform in the UK with 10 carrier-neutral edge data centres.

Proximity Data Centres is based in Chester.

“Through organic growth and strategic acquisitions this year, nLighten has grown into a leading pan-European edge data centre platform with 26 data centres, 53 megawatts of potential capacity and 130 employees,” said Mohamed El Gazzar, senior partner, I Squared Capital.

Enhanced capabilities

Lastly, we have Battery Ventures’ portfolio company VertiGIS investing in ibR, a software company that provides geoinformation systems for cadastre and surveying, land management and municipalities.

Battery Ventures invested in VertiGIS in 2017.

For more tech news, read Battery’s Zak Ewen’s outlook piece in which he said “international demand for European tech firms” will help drive activity in H2 of 2023.