Enewsletter No. 450 | SECA | Swiss Private Equity & Corporate Finance

eNewsletter no. 450 Dear Reader 05 February 2016

Flowers or chocolates?I SECA Watered her plants, and she was very pleased when she returned Venture Capital from her vacation.

Private Equity – Swiss News „I'd like to give you some chocolates or flowers. Which do you prefer?“ Private Equity – Int. News „Nothing, thank you, you don't have to make a fuss about such Corporate Finance petty favors.“ Mergers & Acquisitions A year has passed. She never gave me any chocolates or flowers. Management Buyout I won't water her plants when she goes on vacation again. Jobs What can we learn from this? Agenda

Editor Have a nice week! Maurice Pedergnana

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SECA

PRIVATE EQUITY IN ZUG: Innovation und Erfolgsgeschichten am 2. März 2016

Am Mittwoch, 2. März 2016, 17.30 Uhr findet im GIBZ in Zug folgende Veranstaltung organisiert durch die Zuger Wirtschaftskammer und die Swiss

Private Equity & Corporate Finance Association (SECA) statt:

PRIVATE EQUITY IN ZUG – Jahresveranstaltung: Innovation und Erfolgsgeschichten

Innovative Firmen in wertschöpfungsstarken Branchen finden in der Region Zug einen fruchtbaren Boden. Private Equity und Venture Capital (Beteiligungskapital) sind dabei von grosser Bedeutung für Innovations- und Wachstumsstrategien, dem Aufbau von Unternehmen und zur Finanzierung von Nachfolgeregelungen. Erfolg hat wer Ideen, Netzwerke, Wissensträger und Kapital verbinden kann - deshalb der Schwerpunkt „Innovation“. Die zweite Ausgabe der Jahresveranstaltung des Private Equity Clusters Zug widmet sich der Frage, wie Zuger Firmen neben dem notwendigen Kapital ihr Knowhow holen, es pflegen und weiterentwickeln – und was die Zuger Wirtschaft und Politik dazu beitragen.

Programm

weitere Informationen und Anmeldung

Upcoming SECA Events - jetzt anmelden!

Private Equity Cluster Zug – Jahresveranstaltung: Private Equity in Zug: Wie sich Zug als weltweit bekannter Standort für Beteiligungskapital entwickelt Mittwoch, 2. März 2016, GIBZ, Zug Weitere Informationen und Anmeldung

SECA Breakfast Event: Gewährleistungen in M&A-Transaktionen Mittwoch, 6. April 2016, Au Premier, Zürich Weitere Informationen und Anmeldung

Und ganz wichtig – reservieren Sie sich das Datum von der kommenden SECA Conference. Mittwoch, 6. Juli 2016, SIX ConventionPoint, Zürich Weitere Informationen folgen so bald wie möglich.

Venture Capital

Media Monitoring

"Airbus Venture Capital Fonds" beteiligt sich an Local Motors

6,3 Mio. EUR: Cobi erhält frisches Kapital

EU-Kommissar Hill will mit europäischen Dachfonds mehr Risikokapital mobilisieren

Innovation am Kapitalmarkt: Technologiefirma Brain geht an die Börse

China's Venture Capital Boom: What's Next?

"Chance, eine europäische Marke aufzubauen"

EU-Kommissar Hill will mit europäischen Dachfonds mehr Risikokapital mobilisieren Die NordLB ist der Fintech-Primus unter den Landesbanken

Reparando sammelt hohe sechsstellige Summe ein

Die Neue Deutsche VC-Welle

Exklusiv: Millionen für AdTech-Start-up Eyeota

Investoren-Schaulaufen: Wer hat mal ein, zwei Millionen übrig?

Rekordhohe Investitionen in Schweizer Startups

Swiss start-ups gain 50% more risk capital

The fourth Swiss Venture Capital Report was published, again in collaboration with startupticker.ch . The report lists and analyses 120 financing rounds that were completed in 2015: a total of CHF676 million was invested, an increase of 48% over the previous year.

EY issues its first Swiss FinTech Report

Overall, the EY Swiss FinTech Report 2016 indicates that Switzerland is making good progress on the journey to become an excellent place to start a venture. Widely recognized for its excellent education and world-class universities, together with a deep knowledge in the field of financial services, Switzerland remains attractive despite the high cost of living and the corresponding high salaries needed to attract the right talent. When it comes to financing, Switzerland is facing some challenges despite being one of the richest countries in the world. Because of its location at the heart of Europe, pan-European business models are typically expected from the outset of a venture, which can prove a tough proposition depending on the circumstances. As a result, venture financing can sometimes be more difficult to find in Switzerland compared with other countries with large domestic markets that allow operations to be scaled up more easily.

Swiss FinTech Report 2016

Adicet Bio secures Series A financing led by OrbiMed Advisors

On 27/01/16 it was announced that Adicet Bio Inc., a New York, New York based biotechnology research developer services provider company, has raised USD 51 million in a first (Series A) financing round led by OrbiMed Advisors LLC, with participation from Novartis Venture Funds, a fund managed by Novartis BioVentures Ltd, and Pontifax Ltd. In addition, it was announced that Adicet Bio has acquired Applied Immune Technologies Ltd. Source: Zephyr

BRCK completes funding round

On 06/01/16 it was announced that BRCK Inc., a Nairobi, Kenya-based durable internet router manufacturer, has completed a round of funding raising KES 300 million. Participants in the round included Ms Jean Case and Mr Steve Case, Mr Jim Sorenson, MKS (Switzerland) SA, Synergy Energy Ltd, TED Conferences LLC, and other investors. Source: Zephyr

Cedexis secures series B funding led by Ginko Ventures

On 26/01/16 it was announced that Cedexis Inc., a Portland, Oregon-based online cloud-based web traffic optimisation Software-as-a-Service (SaaS) provider, has raised USD 22 million in series B (second round) funding, led by Ginko Ventures SARL and with participation from Hon Hai Precision Industry Co., Ltd, Nokia Growth Partners US LLC, the private equity arm of Nokia Oyj, Citrix Startup Accelerator (Neuhausen, Switzerland), Advanced Technology Ventures and Madrona Venture Group LLC. Source: Zephyr

FinanceFox completes funding round

On 12/01/16 it was annoucned that startup FinanceApp AG (FinanceFox), the Zurich, Switzerland-based insurance comparison and personal advice mobile application operator, has received USD 5.5 million of funding. The investment was made by Salesforce Ventures, IDInvest Partners, Seedcamp Investments LLP, SpeedInvest GmbH and AngelList LLC. Source: Zephyr

H2 Venture Swiss Holding to sell stake in al ambaratouria ll taka shamsia to FRV Solar Holdings X

On 01/01/16 it was announced that Hareon Solar Technology Co., Ltd's wholly owned subsidiary H2 Venture Swiss Holding AG has agreed to sell its entire 70 per cent interest in al ambaratouria ll taka shamsia, a Mafraq, Jordan-based photovoltaic power plant operation service company, to FRV Solar Holdings X B.V.. Upon completion, FRV Solar will own 70 per cent interest in al ambaratouria. The consideration is USD 4 million, of which USD 2.5 million will be paid upon signing the agreement; and the rest USD 1.5 million will be paid wihtin 100 days upon completion. The transaction does not involve any debt settlement. Source: Zephyr

Hyprevention completes funding round

On 16/12/15 it was announced that Hyprevention SAS, a Pressac, France-based proximal femur fracture prevention medical implant manufacturer has secured EUR 750,000 in a round of funding led by Expanso

Capital SAS which is a subsidiary of the Caisse d'Epargne Aquitaine Poitou Charente, Be Angels NV, Business Angels Schweiz (Business Angels Switzerland) and Association du Cercle des Investisseurs de Geneve. Source: Zephyr

Lever secures Series B financing led by Scale Venture Partners On 26/01/16 it was announced that startup Lever Inc., a San Francisco, California based online hiring and talent management platform software-as-a-service (SaaS) provider company, has raised USD 20 million in a second (Series B) financing led by Scale Venture Partners, with participation from Index Venture Management SA and Matrix Management Corporation. Source: Zephyr

Globetrotting brothers raise CHF 2.1 million for Goodwall

Goodwall, the online community for high school students to showcase their academic and extracurricular achievements, today announced a CHF 2.1 million angel round from a group of private investors. Goodwall’s mission is to eliminate luck and privilege from the equation and provide every student with the opportunity to succeed in college and life.

Source startup startupticker.ch

Movinga secures second round of funding

On 04/01/16 it was announced that the start up company Movinga GmbH, a Berlin, Germany-based home moving services provider, has received USD 25 million in second round (Series B) of funding led by Index Venture Management SA. Existing investors such as Earlybird VC Management GmbH & Co KG, Heilemann Ventures GmbH and GFC Global Founders Capital Sarl as well as various business angels also participated. Source: Zephyr

MISSION Therapeutics secures funding

On 02/02/16 it was announced that MISSION Therapeutics Ltd, a Cambridge, UK-based deubiquitylating enzymes (DUBS) targeting bio-pharmaceutical drugs research and development firm has secured GBP 60 million in a round of development capital funding. The participants in the round were Imperial Innovations Group plc, Woodford Patient Capital Trust plc managed by Woodford Investment Management LLP both of whom jointly led the round, Sofinnova Partners SAS, SR One Ltd the corporate venture capital arm of Glaxosmithkline (GSK), Roche Venture Fund managed by Roche Holding AG and Pfizer Venture Investments, the venture capital arm of Pfizer Inc. Source: Zephyr

MyJobCompany completes second round of funding

On 26/01/16 it was announced that MyJobCompany SAS, the Paris,

France-based online recruitment services platform operator has secured EUR 1.5 million in a second round (Series B) of funding which was led by Orbium Holding AG (Zurich; Alfred Auer, Chairman), BPI Groupe SA and undisclosed business angels. Source: Zephyr

NewVoiceMedia secures funding

On 28/01/16 it was announced that startup NewVoiceMedia Ltd, the Basingstoke, UK-based online cloud customer contact platform operator, has received USD 30 million in new funding round. The investment was made by Business Growth Fund plc (BGF Ventures), Bessemer Venture Partners LLC, Eden Ventures Ltd, HCP (Geneva) Sarl, Salesforce Ventures (the VC arm of Salesforce) and TCMI Inc. Source: Zephyr

Ringier invests in foodarena

On 22/01/16 it was announced that start up foodarena GmbH, the Biel, Switzerland based food delivery services provider, has received an undisclosed sum of funding from Ringier Digital Ventures AG, the finance arm of Ringier Digital AG. Source: Zephyr

Seven Senders receives funding

On 26/01/16 it was announced that startup Seven Senders GmbH, the Berlin, Germany-based cross border shipments end-to-end solution provider, has received a seven-digit sum of funding from b-to-v Partners AG and business angels such as Mr Robert Maier as well as the company's founders Mr Holger Hengstler and Mr Stefan Wiskemann. Source: Zepyhr

Springwater Capital injects fresh capital into Electrodomesticos Miro

On 14/01/16 it was announced that Springwater Capital LLC has injected fresh funding into its wholly-owned subsidiary Kabaena Directorship SL (trades as Electrodomesticos Miro), a Martorell, Spain-based electronics store operator. Source: Zephyr

Technologiefonds vergibt Bürgschaft an SmarterBetterCities AG

Die Geschäftsstelle des Technologiefonds gibt bekannt, dass das Bundesamt für Umwelt BAFU eine weitere Darlehensbürgschaft an ein innovatives Schweizer KMU vergeben konnte: Die SmarterBetterCities AG in Zürich.

Jodel receives funding

On 28/01/16 it was announced that startup The Jodel Venture GmbH, the

Berlin, Germany-based online communication platform mobile application developer, has received funding from Redalpine Capital II, a fund managed by Redalpine Venture Partners AG, and Rubylight Technologies Ltd. Source: Zephyr read more

WISeKey signs capital increase agreement with Global Emerging Markets consortium

On 20/01/16 it was announced that WISeKey International Holding AG, the Zug, Switzerland based secure digital transaction technology developer holding company, has signed a definitive share sale agreement with a consortium of institutional investors led by Global Emerging Markets Ltd. Following completion of WISeKey's IPO (planned for quarter 1 of 2016), for a period of 5 years, WISeKey has the right to issue new shares to the consortium by way of capital increases. Over the 5 year period (estimated end date 31/03/21) shares to the value of CHF 60 million may be issued to the consortium. Source: Zephyr

Private Equity – Swiss News

33 Fragen an Peter Derendinger

Lesen Sie seine Antworten. Peter Derendinger, CEO von Alpha Associates und langjähriges SECA Mitglied.

Sigg wird nach China verkauft

Mit Sigg wird ein Traditions-Unternehmen nach China verkauft. Haers

Vacuum Containers übernimmt für 16,1 Millionen Franken die Firma, die in Frauenfeld (TG) Aluminiumflaschen produziert. Wie «Schweiz aktuell» berichtet, wurden die Mitarbeiter heute darüber informiert. Verkäuferin ist die Private Equity Gesellschaft Riverside.

Apollo Global Management to invest in Airopack Technology Group

On 17/12/15 it was announced that Apollo Global Management LLC is to invest a total EUR 120 million in Airopack Technology Group AG (ATG), the Baar, Switzerland-based industrial packaging solutions manufacturer of which EUR 80 million will be done via debt financing and EUR 40 million via an ATG capital increase at CHF 11.22 per new share. Based on the EUR 40 million value of the capital increase and offer price it can be calculated that approximately 3,565,062 shares will be issued. Based on ATG's enlarged share capital of 17,674,318 shares, the 3,565,062 new shares represents a stake of 20.2 per cent. The transaction is subject to customary conditions as well as ATG shareholder approval of which a general meeting is scheduled in Q1 of 2016 and is subject to the execution of ATG acquiring Resilux Schweiz's stake in Airolux. Source: Zephyr

HBM Healthcare Investments mit steigendem Discount

HBM Healthcare Investments schloss das dritte Quartal des Geschäftsjahres

2015/2016 mit einem Gewinn von CHF 208 Millionen ab. Der innere Wert je Aktie (NAV) erholte sich im Berichtsquartal von Anfang Oktober bis Ende Dezember kräftig und stieg um 23,6 Prozent auf einen neuen Höchststand von CHF 149.76 per 31. Dezember 2015. Der Aktienkurs legte in der gleichen Periode um 10,9 Prozent auf CHF 102.00 zu.

Medienmitteilung

Hem might be acquired by Vitra

On 30/12/15 it was reported that Vitra AG (Muttenz, Switzerland; Nora Fehlbaum, Chairwoman) might buy the startup Hem GmbH, the Berlin, Germany-based furniture manufacturer. Hem has received several offers. The total consideration is expected to be around USD 20 million. The deal would mean an exit for prior investors, such as Andreesen Horowitz LLC, Atomico (UK) Partners LLP, First Round Capital LLC, Menlo Ventures, Sherpa Ventures LLC, Tencent Holdings Ltd, Graham Holdings Company (Washington Post) and other investors. Source: Zephyr

Partners Group to acquire majority stake in Guardian Early Learning Group from Navis Capital via tertiary buy-out

On 31/01/16 it was reported that Partners Group AG has acquired Guardian Early Learning Group Pty Ltd, a Bondi Junction, Australia-based childcare centres operator, from Navis Capital Partners Ltd, via institutional buyout. The deal is valued at AUD 400 million to AUD 500 million. Navis Capital Partners acquired Guardian Early Learning from Wolseley Partners Pty Ltd in 2013, via secondary buyout. As such, it is tertiary buy-out. On 02/02/16 it was announced that funds managed by Partners Group has agreed to acquire a majority stake held by Navis Capital Partners. The remaining stake is held by senior management. The transaction gives Guardian an enterprise value of about AUD 440 million. The transaction is expected to close in the first quarter of 2016. Source: Zephyr

Private Equity – Int. News

Media Monitoring

DPE Deutsche Private Equity GmbH / DPE veräußert Availon an Vestas

Private Equity: Der deutsche Midmarket schrumpft

Private-Equity-Manager für 2016 zuversichtlich EBRD empfiehlt, vermehrt auf Private Equity zu setzen

Transaktionsrekord bei Equistones deutschem und Schweizer Team im Jahr 2015

Matador Private Equity AG

Rocket Internet stürzt ab und baut um

Neuer Investor für Airinotec

Wealth Cap legt bei Platzierungszahlen zu

Industrielle Bildverarbeitung: Ambienta übernimmt Mikrotron

BHP Billiton - Im Fadenkreuz von Private Equity

Asian private equity: growing opportunities

One of the main developments we noted in 2015 was the accelerating change in the nature of China’s growth. This is the transition from an outward facing manufacturing and export-driven economy to a more domestic, consumer-driven, services-orientated economy. Reflecting this, we saw consumption’s share of gross domestic product (GDP) in China move up 3% in 2014 to 51%, with a further increase in 2015. Looking ahead to 2016, Aberdeen sees this trend continuing to accelerate.

Concurrently, Chinese consumers are seeing their disposable incomes rise, which should support increased consumption. This theme is playing out in China and the wider Asia-Pacific region, and therefore we believe that the ‘emerging middle class’ and ‘consumer upgrade’ themes will continue to play out over the coming decade. It is not just consumer products and services that will see increased demand, but also consumer-related proxies such as healthcare and food and agriculture. For example, the increasing ability and willingness of Chinese consumers to pay for private healthcare has boosted growth in the healthcare sector. Demographic changes and the general ageing of the Chinese population will also translate into greater spending on health and wellbeing in later age. As healthcare becomes more affordable, this should create a self-fulfilling growth dynamic. The long version is originally published in Pensions & Investments on 12 January 2016.

Golding Capital Partners wirbt 2015 850 Millionen Euro Kapital für Beteiligungsprogramme ein

Golding Capital Partners (GCP), einer der führenden unabhängigen Asset Manager für Private Equity, Private Debt und Infrastruktur in Europa, hat das Jahr 2015 mit einer weiteren Rekordbilanz abgeschlossen: Annähernd 850 Millionen Euro Kapital und damit nochmals rund 10 Prozent mehr als im Rekordjahr 2014 konnten für GCP-Beteiligungsprogramme eingeworben werden. Erfolgreich ausgebaut hat GCP sein Private-Debt-Portfolio: Für die Golding Private Debt SICAV VIII erhielt GCP Investorenzusagen von 413 Millionen Euro.

Im aktuellen Niedrigzinsumfeld sind Alternative Investments für eine wachsende Zahl institutioneller Investoren unverzichtbar. Die spürbar zunehmende Risikobereitschaft und die damit verbundene Nachfrage nach ertragsstarken Anlagen führten zu neuen Zusagen bei allen drei von GCP angebotenen Anlageklassen. Insgesamt 40 institutionelle Investoren, darunter Versicherungen, Versorgungseinrichtungen, Stiftungen und Kreditinstitute aus dem In- und Ausland investierten 2015 in GCP-Beteiligungsprogramme. Viele Investoren setzen dabei zunehmend auf individuelle Beteiligungsprogramme, sogenannte ‚Managed Accounts‘. Auch hier konnte GCP mit Aufstockungen oder Neuzusagen über alle Anlageklassen hinweg das verwaltete Volumen ausbauen. Insgesamt verwaltet GCP damit rund 5 Milliarden Euro und zählt zu den Marktführern in Europa.

Infrastructure demand rises

The demand for infrastructure and the increased availability of debt financing, together with more investors looking to make direct investments and the high levels of dry powder available to fund managers, has led to increased competition for infrastructure assets, pushing up pricing. Fifty-one percent of fund managers are now fi nding it more diffi cult to fi nd attractive investment opportunities than a year ago, and as a result, deal activity has slowed: 661 deals were completed at an estimated $349bn in 2015, a decline on the 914 transactions completed for an estimated $444bn in 2014.

Preqin Infrastructure Spotlight - January 2016

The advantages and drawbacks of co-investments

The popularity of co-investments has been on the rise. Deploying capital into the portfolio company alongside a general partner (GP) has become en vogue amongst investors. In the latest edition of the Akina Quo Vadis newsletter, they take a close look at co-investment characteristics, its advantages and drawbacks. The conclusion: Resources and experience remain the key success factors for co-investors according to Akina.

Akina Newsletter Quo Vadis January 2016

Corporate Finance

Aevis acquires Medgate stake

On 22/01/16 it was announced that Aevis Victoria Holding SA has acquired a 40 per cent stake in Medgate Holding AG, the Basel, Switzerland based telemedical consultation services provider holding company, for an undisclosed consideration. Ownership is retroactively effective from 01/01/16. Medgate's current shareholders are Swisscom AG, Dr Andreas Fischer, Mr Andre Mori and Mr Lorenz Fitziand it is currently unclear from whom the stake has been acquired. It has been announced, however, that Dr Fischer and Mr Fitzi will remain the majority shareholders of the company.

BDO to acquire FinOps' risk management and investment compliance business

On 26/01/16 it was announced that BDO AG is to acquire the risk management and investment compliance business of FinOps AG, the Zurich, Switzerland based accountancy services provider which is in liquidation. The transaction is to complete on 01/04/16 and FinOps will cease trading. It was also announced that Kendris AG is to acquire the securities accounting and investment reporting business of FinOps. Source: Zephyr

Medienmitteilung

Währungsausblick: Schweizer Franken

Im Research-Bericht zum Schweizer Franken befassen sich die Ökonomen der Commerzbank (Zürich) mit den zur Zeit meistdiskutierten Einflussfaktoren. Darin geht es nicht nur um die längerfristigen Nachwirkungen über die Aufgabe des Mindestkurses zum Euro vor einem Jahr sondern auch Themen wie z.B. Preisstabilität, die Geldpolitik in der Eurozone und andere im Markt beobachtete Entwicklungen. Trotz des gegenwärtigen EUR/CHF Kurses von etwas über 1.1000 und der damit verbundenen "komfortablen" Situation gleichwohl für die Schweizerische Nationalbank wie Exportindustrie und Tourismus sollte beachtet werden, dass eine dauerhafte Abschwächung des Frankens kaum angezeigt ist. Für einen nachhaltigen Euro-Aufschwung bräuchte es vor allem eine geldpolitische Normalisierung im Euroraum.

Research-Bericht zum Schweizer Franken

Brady has acquired Energycredit Software from Temenos

On 04/01/16 it was announced that Brady plc has acquired Energycredit

Software Ltd a London, UK-based credit risk management software developer from Temenos Group AG. Source: Zephyr

ChemChina acquires stake in Mercuria

On 18/01/16 it was announced that China Petrochemical Corporation (ChemChina Petrochemical Co., Ltd), a ChemChina subsidiary, has acquired a 12 per cent stake in Mercuria Energy Trading SA, the Geneva, Switzerland-based oil and petroleum wholesaler. Source: Zephyr

ChemChina makes an offer for Syngenta

ChemChina has tabled a bid to acquire Swiss fertiliser products manufacturer

Syngenta for around USD 43.0 billion, in the biggest deal of the year so far. Under the terms of the transaction, the buyer will pay USD 465.0 per stock, plus an additional special dividend prior to completion. The target’s board of directors are unanimously recommending the proposal to shareholders, in a deal that will enable further expansion in emerging markets. Source: Zephyr

DENTSPLY International and Straumann Holding may make offers for MIS Implants Technologies

On 28/01/16 it was reported that DENTSPLY International Inc., and Straumann Holding AG may be considering making bids to acquire MIS Implants Technologies Ltd, a Shlomi, Israel-based dental implant manufacturer, from TA Associates Management LP. The company has been valued at USD 400 million. Source: Zephyr

Golden Partner acquires stake in Leclanche from Precept

On 30/12/15 it was announced that Golden Partner International Ltd has acquired 11.2 million shares which represent a 29.7 per cent stake in Leclanche SA, the Yverdon-les-Bains, Switzerland-based lithium-ion cells and batteries manufacturer, from Precept Fund Management Segregated Portfolio Corporation. Based on the closing share price of CHF 2.4 on 29/12/15, the last day of trading before the announcement, the 11.2 million shares can be valued at about CHF 26.88 million. Source: Zephyr

Inficon acquires InstruTech's assets

On 01/02/16 it was announced that Inficon Holding AG has acquired all the assets of InstruTech Inc., a Longmont, Colorado-based vacuum measurement gauge manufacturer for an undisclosed consideration. Source: Zephyr

Investor acquires Cavotec shares

On 15/01/16 it was announced that an undisclosed investor has acquired 1 million shares in Cavotec SA, the Lugano, Switzerland based automated mooring equipment manufacturer holding company. Based on the 74,724,952 this equates to a stake of approximately 1.338 per cent. Source: Zephyr

JAB may launch IPO for Belstaff

On 22/01/16 it was reported that Belstaff Group SA, the Novazzano, Switzerland based luxury clothing manufacturer holding company, could look to launch an IPO at some point in the future. Belstaff is currently wholly owned by JAB Luxury GmbH. Source: Zephyr

Komax might sell its medtech business

On 19/01/16 it was reported that Komax Holding AG, the Dierikon,

Switzerland-based wire processing and automated assembly systems manufacturing holding company, might sell its medtech business in course of strategic review. Initial talks with interested parties are being held. Source: Zephyr

KP führt den Prozess zum Verkauf einer Alcon-Produktionsstätte

Kurmann Partners hat die Novartis-Division Alcon hinsichtlich einer strategischen Kooperation mit der schwedischen CDMO Recipharm AG beraten. Die resultierende Transaktion kombiniert ein langfristiges Abkommen zur Herstellung eines Portfolios von Ophtalmologie-Produkten und den Verkauf der Alcon-Produktionsstätte in Kaysersberg, Frankreich, an Recipharm.

Dolder and Chemswiss form JV DSCPharma

On 08/01/16 it was announced that as of 01/01/16 Dolder AG and Chemswiss AG formed the joint venture DSCPharma AG, a Basel, Switzerland-based active pharmaceutical ingredients manufacturer. Source: Zephyr

Patinex increases Galenica stake

On 25/01/16 it was announced that Patinex AG (Martin Ebner & Co.) has increased its stake in Galenica AG, the Berne, Switzerland based pharmaceutical products wholesaler, from 16 per cent to 18.11 per cent since 01/12/15. Based on the 6.5 million shares outstanding the 2.11 per cent stake acquired equates to approximately 137,150 shares. Based on the closing share price of CHF 1,504 on 30/11/15 an estimated deal value of CHF 206,3m can be calculated. Source: Zephyr

Zur Rose plans capital increase

On 19/01/16 it was stated that Zur Rose Group AG, the Frauenfeld, Switzerland based online pharmaceutical products retailer holding company, intends to raise around CHF 30 million in a capital increase. Potential investors will be approached in the coming months. Zur Rose currently finds a capital increase preferable to an IPO but may launch an IPO in the future. Source: Zephyr

Mergers & Acquisitions

BDO-M&A-Bulletin Sie finden nachfolgend den Link zum neuen BDO-M&A-Bulletin vom Februar

2016 mit 72 Investment-Opportunitäten und 28 Suchprofilen.

BDO-M&A-Bulletin 02.2016

New HBM Pharma/Biotech - Biopharma M&A in 2015

The new HBM Pharma-Biotech M&A Report covers biopharma M&A activity in 2015. It was a record year for biopharma M&A with a worldwide transaction volume of $430 billion (including asset deals and announced transactions). Deal volume of completed US transactions almost reached $200 billion (up from $90 billion in 2014). Deal volume in Europe dropped to $20 billion (from $50 billion in 2014). A record number of 21 US/European companies were sold for $1 billion or more (up from 14 such transactions in 2014 and 4 in 2013).

HBM Pharma / Biotech M&A Report

ALPHA to acquire Codex

On 22/12/15 it was announced that on 17/12/15 proALPHA Business Solutions GmbH has signed an agreement to acquire Codex Information Systems & Consulting AG, the Munchenstein, Switzerland-based ERP and CRM business software consultancy services. The deal is subject to customary closing conditions. Source: Zephyr

Arnold acquires Arpe

On 19/01/16 it was announced that Arnold AG, a BKW AG subsidiary, has acquired Arpe AG, the Buckten, Switzerland-based sewage system maintenance services company, from Arpe Holding AG. Financial terms were not disclosed. Concurrently, BKW acquired IWAG Ingenieure AG. On the same day, it was also announced that BKW Energie AG has acquired A Dietrich Kalte Klima Luftung AG, the Beringen, Switzerland-based plumbing, heating and AC services provider, and Schonenberger & Partner AG, the Rickenbach, Switzerland-based plumbing, Heating and AC services provider. Souce: Zephyr

Arte Panis agrees to acquire Suard from Mr Jean-Marc Suard and Ms Patricia Suard

On 29/12/15 it was announced that Arte Paris SA, a subsidiary of Villars

Holding SA has agreed to acquire all of the shares in Boulangerie-Patisserie-Confiserie Suard SA (aka Suard SA), a Fribourg, Switzerland-based bread manufacturer from Mr Jean-Marc Suard and his wife Ms Patricia Suard. Source: Zephyr

Assa Abloy agrees to acquire Cedes

On 21/12/15 it was announced that Assa Abloy AB has agreed to acquire

Cedes Holding AG, a Landquart, Switzerland-based doors and gates, elevator and safety and automation industries sensory equipment manufacturer holding company. The transaction is expected to complete sometime on an undisclosed date in the first quarter of 2016.

Compagnie Financiere de Richemont acquires remaining stake in Manufacture Roger Dubuis

On 22/01/16 it was announced that Compagnie Financière de Richemont AG (Richemont) has acquired the remaining 40 per cent stake in Manufacture Roger Dubuis SA, the Geneva, Switzerland-based watch manufacturer. The transaction has been completed a couple of weeks ago and the stake was sold by Mr Carlos Dias. Source: Zephyr

Hoerbiger Holding takes over Newson Gale

On 07/01/16 it was announced that Hoerbiger Holding AG has acquired Newson Gale Ltd, a Nottingham, UK-based electronic industrial process control equipment manufacturer from Mr Ernest Kochmann, Kochmann family and Mr Graham Tyers. Source: Zephyr

Recall acquires Secur’Archiv from Pelichet

On 27/01/16 it was announced that Recall Holdings Ltd has acquired Secur’Archiv SA, the Carouge, Switzerland based document storage services provider, from Pelichet SA for an undisclosed consideration. Source: Zepyhr

Roche in talks to buy Pacific Biosciences: Reuters

Pharmaceuticals and diagnostics giant Roche has recently held discussions to acquire Pacific Biosciences of California, Reuters said, citing people familiar with the matter. Negotiations have been ongoing for weeks but have stalled due to disagreements on price. The two firms already have a relationship in place: in 2013, an agreement was signed to jointly develop diagnostic products using Pacific Biosciences’ gene sequencing technology. Source: Zepyhr

SAG International to acquire Autonet Group Holding

On 17/12/15 it was announced that Swiss Automotive Group AG through its subsidiary SAG International AG is to acquire Autonet Group Holding AG, the Cham, Switzerland-based car parts wholesaler holding company. Autonet is yet to be formed. The deal has been submitted to the Austrian Bundeswettbewerbsbehorde for regulatory approval. Source: Zephyr

read more SGS acquires Cargo Compliance Company

On 05/01/16 it was announced that SGS SA has acquired Cargo Compliance Company BV, the Badhoevedorp, Netherlands-based dangerous goods freight transportation logistics services provider. Source: Zephyr

Slatkine Reprints has bought Cabedita from Mr Eric Caboussat

On 20/01/16 it was announced that Slatkine Reprints SA has bought Cabedita Eric Caboussat, the Biere, Switzerland-based historical and regional culture books publishing services company from the founder, Mr Eric Caboussat. Source: Zephyr

Starticket acquires TicketPortal

On 21/01/16 it was announced that Starticket AG, a majority-owned subsidiary of Tamedia, has acquired TicketPortal AG, the St. Gallen, Switzerland-based ticketing software developer. Financial terms were not disclosed. The consideration was settled through a share swap. Source: Zephyr

TE Connectivity to acquire Creganna Medical

Switzerland-based TE Connectivity has inked an agreement to pick up Irish medical device maker Creganna Medical Group for USD 895.0 million in cash. The transaction will be financed using cash and debt and is expected to close in the third quarter of 2016, subject to regulatory approval. Following completion, Creganna Medical will be part of TE Connectivity’s industrial solutions unit. Source: Zephyr

Volcafe acquires Custodio Forzza Comercio e Exportacao

On 25/01/16 it was announced that Volcafe AG, a wholly-owned subsidiary of ED&F Man Holdings Ltd based in Winterthur, Switzerland, has acquired

Custodio Forzza Comercio e Exportacao Ltda, a Vitoria, Brazil-based coffee manufacturer. Reportedly, the acquisition includes three milling assets located in Colatina, Itabela and Linhares in Brazil as well as a trading office in Vitoria. Source: Zephyr

Yerra Solutions acquires Lex Connect

On 27/01/16 it was announced that Yerra Solutions AG has acquired Smarter Connect Ltd (trading as Lex Connect) a London, UK-based online legal and IP networking platform operator, from Mr Jerome Patrick Raguin and Ms Ana

Raguin. Source: Zephyr

Management Buyout

Claremont Flock sells SwissFlock in MBO

On 11/12/15 it was announced by one source that on 01/12/15 SwissFlock

AG, the Emmenbrucke, Switzerland based flocking material manufacturer, has been acquired in an MBO from Claremont Flock Corporation. Source: Zephyr

Karlovarske Mineralni Vody has acquired Selecta Management's vending operations in Czech Republic, Hungary and Slovakia

On 28/01/16 it was announced that Karlovarske Mineralni Vody AS has acquired vending operations of Selecta Management AG, a Steinhausen, Switzerland-based food and beverages vending machines operator holding company in Czech Republic, Hungary and Slovakia. In a separate transaction, Karlovarske Mineralni Vody has acquired a majority stake in S & Sch SRO. Source: Zephyr

Jobs

How to publish a job ad

On this place your Job ad could be published.

If you are interested please send an e-mail with your job ad, the company logo and a short description about the Job and/or the Company to [email protected].

for SECA Members CHF 100.- / 2 Weeks

for Non-Members CHF 200.- / 2 Weeks

Agenda

10th Swiss Scandinavian Bio-Business Seminar

10 February 2016, SIX Swiss Exchange, Zurich Swiss-Scandinavian Bio-Business Seminar is organized by the Nordic countries in cooperation with Swiss partners for the 10th time. During this high-level partnering and investor conference, Swiss and Nordic biotech and pharmaceutical companies as well as investors meet in one-to-one meetings and present themselves in plenum. The goal of the conference and by means of the Swiss-Nordic focus is to establish new contacts and networks.

Detailed program and registration on the SSBBS homepage.

SuperReturn International 2016

22 - 25 February 2016, Intercontinental Hotel, Berlin

Attend the 19th annual SuperReturn International, the world’s leading private equity and venture capital conference. The 2016 agenda boasts brand new formats, illicit candid discussions, brilliant incidental networking, engaging conversations - and insights that are well worth your time. Do not miss it!

SECA Member benefit from a discount of 15%. The discount code is VIP: FKR2393SECA

more information and registration

Nordic Fundraising Summit 2016

2-3 March 2016, Deloitte, Copenhagen S

Nordic Fundrasing Summit (NFS) is a GP-LP matchmaking event. This conference will bring together some of the most important LPs worldwide.

SECA Member benefit from a discount (tickets for 495 €). For registration please use the following link.

more information and registration

IFZ FinTech Konferenz

Mittwoch, 16. März 2016, IFZ, Zug

FinTech gilt als innovative Lösung für die Probleme der Finanzindustrie. Die Wachstumsraten sind hoch. Das Institut für Finanzdienstleistungen präsentiert an dieser neuen Konferenz die IFZ FinTech Studie. Die Studie wird eine umfassende Bestandesaufnahme des Schweizer FinTech Marktes aufzeigen. Über die technologischen und internationalen Entwicklungen geben hochkarätige Exponenten Auskunft.

weitere Informationen und Anmeldung

Finance 2.0 - Conference 2016

Wednesday, 9 March 2016, Schiffbau, Zurich

The first leading Finance 2.0 & FinTech conference in Switzerland. All about the future of digital banking.

SECA members benefit from a discount of 20%. The discount code is "SECA". more information and registration

2. Silicon Valley meets Switzerland Event

31. März 2016, Technopark Zürich

Der Name ist Programm, bereits zum zweiten Mal bringt extendance IT-Trends und -Innovationen aus der Schweiz und dem Silicon Valley auf eine gemeinsame Bühne. Highlights aus der Schweiz liefern Präsentationen zu Industry 4.0, Robotics, The Human Brain Project und einigen IT-Startup Hoffnungsträgern. Themen, zu denen aktuell führende Silicon Valley Startup Firmen in ihren Märkten (Rank 1-2 wie Hortonworks, Coinbase, Arista Networks, Zuora, Jawbone,...) referieren werden, sind u.a.: Big Data, IT Security, Sharing Economy, Digital Payment, E-commerce for Subscriber Businesses und Augmented Reality.

Seca verfügt über vergünstige VIP-Tickets exklusiv für Ihre Mitglieder (-30%) - CHF 250.- statt CHF 350.-. Die Anzahl ist begrenzt, first come, first served. Interessierte melden sich für Tickets direkt via E-Mail bei extendance.

weitere Informationen

Swiss Private Equity Conference

Thursday, 7 April 2016, Park Hyatt Hotel, Zurich

Private Equity Insights has the pleasure to invite you to the 6th Swiss Private Equity Conference, held on April 7th at the Park Hyatt Hotel in Zurich, Switzerland. Once again, SPEC will bring together 50 speakers and 300 attendees - 80 LPs, 60+ GPs and 60+ CEOs.

Enjoy the opportunity to network, discuss current challenges and share best practices. SECA members benefit from a 20% discount. Use the following code "SPEC16_SECA_RT". Members can register with our coupon here.

complete list of speakers & agenda

BAI Alternative Investor Conference

12./13. April 2016, Kap Europa, Frankfurt

Freuen Sie sich auf interessante Fachvorträge und spannende Panel-Diskussionen zu neuen Trends und Entwicklungen. Themen wie u.a. der Insurance Linked Securities, Ausgestaltungsmöglichkeiten von Infrastrukturinvestments und kapitaleffiziente Investments in Erneuerbaren Energien, globale Megatrends und deren Auswirkungen auf das Private Equity-Umfeld, neue Risikomanagementansätze für Alternative Investments sowie AIFMD und Solvency II wurden auf den vergangenen Veranstaltungen diskutiert.

Mitglieder der SECA erhalten 20 % Rabatt auf die reguläre Teilnehmergebühr. Bitte melden Sie sich über folgenden Link an: Anmeldung

Upcoming SECA Events - save the date

SECA Breakfast Event: Gewährleistungen in M&A-Transaktionen Mittwoch, 6. April 2016, Au Premier, Zürich Weitere Informationen und Anmeldung

Und ganz wichtig – reservieren Sie sich das Datum von der kommenden SECA Conference. Mittwoch, 6. Juli 2016, SIX ConventionPoint, Zürich Weitere Informationen folgen so bald wie möglich.

More information will follow in due time. Please see also on www.seca.ch - Events.

Upcoming Young SECA Events - save the date

Young SECA & PCU Get Together Gastreferent: Jan Beckers (Gründer diverser Start-Ups und E&Y Entrepreneur of the Year 2014 in Deutschland). 12.05.2015, 19.00 o'clock

15. Swiss Private Equity & Corporate Finance Conference 06.07.16, SIX Convention Point, Zürich

Young SECA Get Together 10.11.16, place tbd

More information will follow in due time. Please see also on www.seca.ch - Events.

Forthcoming related Events

Go Beyond Investing February events

French Private Equity Conference 2016 22.01.15, Paris

SuperReturn International 2016 22.-25.02.16, Berlin

Nordic Fundraising Summit 2016 2.-3.03.16, Copenhagen S

IFZ FinTech Konferenz 16.03.16, IFZ, Zug

2. Silicon Valley meets Switzerland Event 31.03.16, Zurich

BAI Alternative Investor Conference (AIC) 12.-13.04.16, Frankfurt

Editor

SECA eNewsletter is a free online newsletter published by Maurice Pedergnana, Managing Director of the SECA Swiss Private Equity & Corporate Finance Association, received by more than 3'000 email addresses. More information: www.seca.ch or +41 41 757 67 77 (Andrea Villiger). The eNewsletter archive service is available only for SECA members.