We have a double add-on acquisition to start with this morning. OpenGate Capital’s portfolio company CoreMedia has acquired BySide, a software as a service (SaaS) customer engagement provider and Smarkio, a SaaS chatbot provider.
Double acquisitions seem to be the theme of the day, as The Enact Fund, managed by private equity firm Endless, has acquired Accrofab and Bromford Industries, precision engineering companies for the aerospace and power generation sectors.
We finish off with a bit of healthcare, with ScaleUp investing in Zevo Health, a provider of wellbeing support to online moderation teams.
Make it double
Kicking off with the double acquisition. OpenGate Capital announced that its portfolio company, CoreMedia, has acquired BySide and Smarkio.
Headquartered in Porto in Portugal, BySide is a provider of SaaS customer journey, engagement and personalisation products. Smarkio, also based in Porto, offers multi-channel marketing automation software, such as SaaS chatbot products to B2C brands.
CoreMedia – acquired by OpenGate in 2019 from Deutsche Telekom Capital Partners – is a content management and digital experience platform. The company’s European headquarters are in Hamburg, Germany.
The acquisitions of BySide and Smarkio will expand CoreMedia’s real-time personalisation and automation capabilities, according to a release.
“In the context of rising competition for B2B and B2C digital brands, the value proposition of CoreMedia’s digital experience platform is extremely clear for companies looking to push the boundaries of customer experience, and we are excited to support the company as it grows,” said Andrew Nikou, OpenGate Capital’s founder and managing partner.
Add two more
Continuing with another double acquisition. The Enact Fund, managed by private equity firm, Endless, has acquired the business and assets of Accrofab and the Alcester site of Bromford Industries out of administration. The deal will be funded from Endless’ Enact Fund III.
The deal will secure jobs of over 220 current employees, according to a release.
Accrofab and Bromford Industries, which precision engineer fabricated components for the aerospace and power generation sectors, operate out of sites in Derby and Alcester. Following completion of the deal, both companies will trade under the Accrofab brand, the release said.
“Accrofab and Bromford Alcester are both profitable businesses which were brought down by a separate loss-making site in the Bromford Group,” said Richard Harrison, partner at Enact. “The Accrofab Group is perfectly positioned to benefit from the growth in its core aerospace and power generation markets and we will invest in both sites to broaden their operational capability and capacity.”
There’s been a lot of activity in the aerospace sector as of late. In July, we saw Advent-backed Cobham enter talks to sell AeroComms, a supplier of safety cockpit communication systems to Thales and Blackstone planning to sell MB Aerospace to Barnes Group for an enterprise value of around $740 million.
Moderation
ScaleUp Capital has invested in Zevo Health, a provider of wellbeing support to online moderation teams.
Dublin-based Zevo Health is a fully integrated workplace wellbeing provider. The company offers services available online and onsite, that are designed to improve employee’s overall wellbeing and increase engagement within the workplace. Zevo’s support services include 1:1 counselling, group therapy, training sessions and digital content.
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