Enewsletter No. 481 | SECA | Swiss Private Equity & Corporate Finance

eNewsletter no. 481 Dear Reader 27 September 2017

Radiation both saves lives and kills lives. Marie Curie, who SECA discovered and named it, was its victim.

Venture Capital Maria Salomea Sklodowska moved to France to study physics, as this was not possible in her native Poland, then under Russian Private Equity – Swiss News control. She worked with and married Pierre Curie, and the two Private Equity – Int. News won the Nobel prize in 1903. They managed to get it in Stockholm only in 1905, shortly after the birth of their second daughter. A year Corporate Finance later, Pierre died in a road accident. Marie Sklodowska Curie Mergers & Acquisitions continued doing basic research and succeeded in isolating radium. Management Buyout 1911 she was awarded the second Nobel prize, this time in chemistry, the only woman who ever got two Nobels. When WW1 Book of the Week broke out, she took her scientific knowledge to the battle field. She Jobs helped set up 20 mobile and 200 stationary units to x-ray wounded soldiers with the help of her daughter Irène. Agenda Nobody knew the long-term effects of radiation at the time. Marie Editor Sklodowska Curie remains a radiant figure after her death in 1934. Even her pens and papers are still radioactive and are kept in lead vaults.

Toolbox Have a nice week with innovative scientists! Print Newsletter Maurice Pedergnana Send Newsletter to a Friend Download as PDF

SECA

Björn Böckenförde verstorben

Am 8. September 2017 ist unser langjähriges SECA Vorstandsmitglied Björn Böckenförde aus einem erfüllten und glücklichen Leben gerissen worden. Wir sind sehr, sehr traurig. In Björn haben wir einen Kollegen und Freund verloren, der mal mit Charme, mal mit Humor und auch mal mit Wucht sich für seine Sache eingesetzt hat. Björn hatte ein feines Gespür, zwischen Visionen und realistischen Schritten zu unterscheiden. Er hat als Leader im Chapter Private Equity die Anlageklasse immer mit einem inneren Feuer und tiefer Überzeugung vertreten.

Wir vermissen dich, Björn!

Beyond myths: Why Swiss pension funds should embrace private equity investing

1 percent is the symbolic share of assets that Swiss pension funds allocated to private equity in 2016, on average, meanwhile it is a tiny little bit more. Why such a reticence to invest more? We refute five spurious myths preventing a serious allocation. Authors are Cyril Demaria (Head of Private Markets at Wellershoff & Partners, Zurich) and Maurice Pedergnana (Secretary General of the Swiss Private Equity and Corporate Finance Association SECA).

SECA Training Romandie

Cycle de sept formations inter-entreprises dédiées au capital investissement (private equity)

La SECA (Swiss Private Equity and Corporate Finance Association) et l’AFIC (Association Française des Investisseurs pour la Croissance) se sont associées pour offrir un cycle de formations et permettre la montée en compétences des professionnels du capital-investissement (private equity) en Romandie. Depuis 1998, l'AFIC s'est imposée comme la référence de la formation en private equity en France, offrant plus de 70 formations dédiées.

Nous proposons un cycle de sept formations destinées à un vaste public, allant des nouveaux entrants dans les métiers du capital-investissement (private equity) aux pro-fessionnels du middle et du back office, mais aussi aux chargés d’affaires et profession-nels souhaitant approfondir leurs connaissances.

More information and registration

SECA Event: R&W Insurance - A Means to Bridge the Gap between Buyer and Seller

Monday, 6 November 2017, Impact HUB Geneva

One of the most important steps in the sales and purchase process is the risk allocation between the contracting parties, i.e. buyer and seller. M&A advisors offer a number of tools to support the parties in this process. Sometimes, however, the distinct assess-ment of identified or potential risks becomes a deal breaker between the parties. R&W insurance policies offers buyers and sellers a powerful tool to enable them to mitigate and improve risk as they enter into deals, giving protection against a wide range of losses resulting from these unknown risks. This event is of relevance for senior management of Private Equity firms, family offices, M&A firms, Corporate M&A, M&A Lawyers and other advisors supporting M&A transac-tions.

Speakers

Michael Gaul, AIG Europe Ltd.

Dr. Stephan Werlen, CMS von Erlach Poncet AG

Chris Tattersall, Deloitte AG

Cédric Perlet, Argos-Soditic SA

Moderation: Gregory Walker, Walker Risk Solution AG

Flyer

more information and registration

6. SECA Private Equity Workshop

3./4. und 17./18. November 2017, Zürich

Auf spannende Fragen gibt es Antworten…

Weshalb gehören die Endowments von Harvard und Yale zu den erfolgreichsten Investoren weltweit?

Auf was beruhen die Erfolgsgeschichten von Yahoo, Amazon, ebay, Adobe, Intel, Cisco Systems und Genentech?

Was haben Google, Facebook, Doodle, Odlo, Schild, VAT, Hirslanden, Phonak/Sonova, Gategourmet, Swissport, Stadler und Geberit gemeinsam?

Welche Assetklasse erzielt langfristig eine weit überdurchschnittliche Wertsteigerung?

Welche Investmentopportunitäten ergeben sich aus dem zunehmend bedeutender werdenden Bereich von Private Markets?

Ziel des Workshops ist es, einen umfassenden Einblick in die Struktur, die Funktionsweise, die Dynamik der Private Markets-Industrie sowie Handlungsempfehlungen aus der Sicht des Investors zu erhalten, was letztlich wesentlich zum besseren Verständnis der vorhandenen Chancen und Risiken dieser faszinierenden Assetklasse beiträgt.

Broschüre

Venture Capital

Media Monitoring Sind Crowd-Investing und Venture Capital kompatibel?

Für ihr Flugauto bekommen diese deutschen Erfinder 90 Millionen Dollar

Frauen, versteckt euch!

Ex-Wunderkind Lars Windhorst sorgt für Ausfälle in Österreich

Data Intelligence-Start-up Kivu Technologies erhält 1,8 Mio. EUR

Lesara erhält 30 Millionen Euro – und attackiert die Konkurrenz

Samsung entdeckt das Autonome Fahren und legt 300 Mio. Dollar schweren Venture Capital ...

Staatsfonds auf der Jagd nach dem nächsten Einhorn

Millionenspritze für Wiener Start-up myClubs

Silicon-Valley: Zu den Visionen gibt es jetzt auch Anleihen!

Berliner Venture Capital Anbieter Target Global legt 100 Mio. Euro Early Stage Fonds für B2B und ...

„Mit einem 50 Mio. Euro Fund in Berlin brauchst du gar nicht mehr anfangen!“ | Corporate Venture ...

Gogoro sammelt 300 Millionen Dollar für seine E-Roller ein

„Es bedarf schlankerer Strukturen für Start-ups“

Wer hat es in die TOP 100 Schweizer Startups 2017 geschafft?

Die siebte Edition des TOP 100 Schweizer Startup Awards fand mit über 700 Gästen in der alten NZZ Druckerei in Schlieren statt. Das breite Spektrum an innovativen High-Tech Startups lockte unzählige Investoren vom Ausland und gar aus China an diesen exklusiven Event. Die Gewinner 2017 sind Ava, L.E.S.S. und Flyability, Startups, die global expandieren und bereits mehrere Millionen aus Finanzierungen erhielten.

Medienmitteilung

Patrick Wegmann, Lebensretter aus Zufall

Gute Ideen muss man nicht selbst haben, man muss sie aber erkennen und zugreifen, falls sie verfügbar sind. Dr. Patrick Wegmann entdeckte das Dietiker KMU Lifetec mit einem interessanten Produkt – einem integrierten Defibrillator – und sah darin grosses Potenzial, schrieb Werner Grundlehner in der NZZ vom 4.9.17. Nach dem erfolgreichen Verkauf der Software-Firma Avanon, die Wegmann mitgegründet hatte, suchte er fünf Jahre nach einem neuen Projekt im Software-Bereich. Mit Lifetec stiess er auf eine Firma, die Medtech mit Software verband. «Software ist als Code allein nie werthaltig, sondern wird erst in Kombination mit einem Gerät eine Dienstleistung», sagt Wegmann, der den Verwaltungsrat präsidiert.

Er glaubt daran, dass es begabte Unternehmer gibt, denen es leichterfällt, eine Firma auf die Beine zu stellen, als anderen. Er würde aber empfehlen, sich nicht zu weit weg von den eigenen Kernkompetenzen zu bewegen und Geschäftsmodelle zu verfolgen, die man bereits kenne. In Bezug auf Lifetec müsse man kein Arzt sein, um den Ablauf und das Vorgehen der Rettungsmassnahmen zu verstehen. Quelle: NZZ, 4.9.2017

Ebner hält nun Mehrheit an der Myriad Group

Im Rahmen einer Kapitalerhöhung hat der bisherige Hauptaktionär Patinex, das Finanzvehikel von Martin und Rosmarie Ebner, die Mehrheit an der Softwarefirma Myriad Group erworben. Der Financier verfügt über eine Beteiligung von 61,4%. Durch die Placierung von gut 37 Mio. neuen Aktien zu je Fr. 0.50 flossen dem Unternehmen brutto 18,7 Mio. Fr. zu, das Ebner möglichst bald von der SIX Swiss Exchange zurückziehen will. Seit diesem Frühling hat sich der Unternehmenswert der hohe Verluste ausweisenden Myriad auf 85 Mio. Fr. halbiert.

Novartis takes stake in XOMA

On 05/09/17 it was announced that on 24/08/17 Novartis Pharma AG has acquired 539,131 shares of XOMA Corporation, a Berkeley, California-based antibody biotherapeutics research and development services provider, representing a 6.6 per cent stake. Based on the closing share price of USD 7.94 on 23/08/17, the last trading day prior to the completion, a deal value of approximately USD 4.3m can be estimated. Source: Zephyr

Kivu Technologies completes seed funding round

On 11/09/17 it was announced that Kivu Technologies GmbH, a Vienna, Austria-based cyber-security analysis software developer start-up, has raised EUR 1.8 million in a seed funding round. Investors included aws Fondsmanagement GmbH, btov Partners AG, Apex Ventures GmbH, and angel investors Mr Ewald Hesse and Mr Louis Curran. The funds will be used to develop Kivu's software. Source: Zephyr

Entrepreneur First receives investment

On 12/09/17 it was announced that Entrepreneur First Investment Manager LLP (Entrepreneur First), has received USD 12.4 million in funding led by Greylock Management Corporation, also known as Greylock Partners, alongside MV Advisers LLP, also known as Mosaic Ventures, Founders Fund Management LLC, Switzerland-based Lakestar Advisors GmbH, also known as Lakestar Capital, and individual angel investors, Mr Bryan Baum, Mr Demis Hassabis, Mr Mustafa Suleyman, Mr Rob Bishop and Mr Zehan Wang. Source: Zephyr Sophia Genetics completes funding round

On 13/09/17 it was announced that Sophia Genetics SA, a Saint Sulpice, Switzerland-based online bioinformatic analysis protocol Software-as-a-Service (SaaS) provider, has raised USD 30 million in a fourth (Series D) funding round. Investors included Balderton Capital (UK) LLP, 360 Capital Management SA, Invoke Capital Partners and Alychlo SA/NA. Source: Zephyr

Sony invests in Acutronic Robotics funding round

On 01/09/17 it was announced that Sony Corporation, via Sony Innovation Fund, has invested in the first (Series A) funding round of Acutronic Link Robotics AG (Acutronic Robotics), a Bubikon, Switzerland-based precision motion simulator manufacturer. Source: Zephyr

Call9 secures Series B funding led by Redmile Group

On 14/09/17 it was announced that Call9 Inc., a Brooklyn, New York-based online web-based telemedicine platform operator, has raised USD 24 million in a Series B (2nd round) funding round. The transaction was led by Redmile Group LLC, with participation from Index Ventures SA, Refactor Capital LLC, Y Combinator Management LLC, Westech Investment Advisors LLC, trading as Western Technology Investment, and others. It was also reported that proceeds will be used to keep developing the company's platform and for go-to-market strategies. Source: Zephyr

ZIP.ch acquires Times.ch's Offnungszeiten.ch business

On 05/09/17 it was announced that ZIP.ch SA has acquired the Offnungszeiten.ch business of Times.ch AG, the Zurich, Switzerland based online timetable search portal operator, for an undisclosed consideration. It was announced that the transaction will expand the product offering of ZIP. Source: Zephyr

Die Empa engagiert sich im Innovationspark Zürich

Die Abkürzung «Empa» steht für Eidgenössische Materialprüfungs- und Forschungsanstalt. Weniger bekannt ist, dass Qualitätstests, vom Stahlseil bis zum Fifa-World-Cup-Fussball, nur noch einen kleinen Teil ihrer Aktivitäten ausmachen. «Empa» sei heute ein «Brand» und stehe für ein Forschungsinstitut, in dessen Zentrum Materialforschung und Technologieentwicklung stünden, und dessen neue Verbundenheit zum Innovationspark in Dübendorf, sagt ihr Direktor Gian-Luca Bona. Das ist ganz im Sinn des zweiten Referenten am ZVG-Anlass, Steffen Wagner, Mitgründer und Co-CEO der auf Startups spezialisierten Investment-Plattform investiere.ch. Der auffordernde Name ist Programm. Sie seien derzeit die aktivsten Investoren in Startups, sagt Wagner. In diesem Jahr werden rund 15 Millionen Franken in ebenfalls etwa 15 Hightech-Projekte gesteckt. Ein wichtiges Ziel sei, Investoren zu finden, die auch das nötige Know-how mitbrächten. Quelle: NZZ 26.09.2017

Quelle: NZZ 26.09.2017

Venture Valuations Biotechgate Collaborates with California Life Sciences Association

California Life Sciences Association (CLSA), the premier public policy advocacy and business leadership trade association representing California's life sciences industry, and Venture Valuation’s Biotechgate, a global Life Sciences database today announced their collaboration to create an in-depth member directory for CLSA as well as a unique, industry leading company directory for California.

Patreon raises series C funding in a round from Index Ventures and others

On 14/09/17 it was announced that Patreon Inc., a Palo Alto, California-based online crowdfunding platform for artists operator start-up has raised series C funding (third round). The round included participation from Index Ventures SA and other investors. Source: Zephyr

Augmedics closes Series A funding round

On 18/09/17 it was announced that Augmedics Ltd, a Yokneam, Israel-based augmented reality surgery guide software developer, has completed a Series A (initial) round of funding, raising USD 8.3 million. Participants in the round included Terra Venture Partners, AO Invest AG (the corporate venturing arm of AO Foundation, Chur / Switzerland) and Israel Innovation Authority. Source: Zephyr

Ushr secures series A funding led by Forte Ventures

On 18/09/17 it was announced that Ushr Inc., a Livonia, Michigan-based autonomous vehicle mapping software developer, has secured USD 10 million in series A (first round) funding, led by Forte Capital Management LLC (Forte Ventures), with participation from EnerTech Capital Partners LLP, Emerald Technology Ventures AG and General Motors Ventures LLC (the corporate venturing arm of General Motors Company). Source: Zephyr Novartis invests in ThromboGenics for a minority stake

On 18/09/17 it was announced that Novartis AG invested EUR 10 million for a stake in ThromboGenics NV, the Heverlee, Belgium-based ophthalmic pharmaceuticals developer. Based on ThromboGenics's closing share price, it can be calculated that ThromboGenics has a market capitalisation of 122.2m. The EUR 10 million represents a stake of approximately 8.2 per cent. Source: Zephyr

Wille Finance leads seed funding round for Labiotech

On 18/09/17 it was announced that start up Labiotech UG, the Berlin, Germany based online biotech news website operator, has completed a second seed funding round. The round was led by Wille Finance AG (Jasmin Beeler, Chairwoman). New investors Indiana Capital Management, JOT-Berlin Beteiligungs GmbH & Co. KG, and Iduskia participated alongside existing investor WestTechVentures GmbH and 6 business angels, including Mr Simon Bungers. 3 of the angel investors, including Mr Bungers, have invested in Labiotech previously. Source: Zephyr

Private Equity – Swiss News

Buhler acquires Polymetrix majority stake from Cross Equity

On 08/09/17 it was announced that in July 2017 Buhler AG acquired the 65 per cent stake in Polymetrix AG, an Oberbueren, Switzerland-based bulk polymer thermal treatment systems manufacturer, which it sold to Cross LP, a fund of Cross Equity Partners AG, in 2013. Buhler intends to once again sell a majority stake in Polymetrix. Source: Zephyr

Partners Group reports strong H1 2017 results

Partners Group reports strong H1 2017 results, attributable to both a sustained increase in revenues from management fees and continued solid performance fee development.

Partners Group recorded strong growth across all metrics due to solid client demand, as well as successful investment activities and realizations in H1 2017. In particular, the firm saw increased demand for its latest series of direct flagship programs in private equity, private debt and private infrastructure, which together represented around 40% of total client demand during the period. The firm's global client demand was well-diversified across regions and size and type of client and was driven by structural growth in institutional AuM, rising allocations to private markets and the firm's strong investment track record. Around half of all client commitments stemmed from corporate and public pension funds, with significant demand from other institutional investors such as insurance companies, sovereign wealth funds and endowments, as well as from Partners Group's distribution partners. The firm's interim report as of 30 June 2017 was published today at 7am CET and is available for download at www.partnersgroup.com/financialreports.

Download press release

Unilabs to acquire Scientific Clinical Laboratories

On 27/07/17 it was announced that Unilabs Laboratoire d'Analyses Medicales SA has agreed to acquire Scientific Clinical Laboratories, a Dubai, United Arab Emirates-based medical laboratory operator. Source: Zephyr

Argos Soditic might acquire Gruppo Fabbri Vignola

On 12/09/17 it was reported that Argos Soditic Partners SA might acquire a 51 per cent stake in Gruppo Fabbri Vignola, the Vignola, Italy-based food packaging machinery manufacturer company from Lincolnshire Management Inc. The company is valued EUR 120 million, therefore a 51 per cent stake is valued EUR 61. 2 million. Source: Zephyr

SPICE PRIVATE EQUITY AG, Zug - reports 1H 2017 results

Spice Private Equity Ltd released its 1H2017 results: The NAV reached USD 222.6 million (USD 41.67/share) as of 30 June 2017, a decrease of 1.5% when compared to 31 December 2016 value of USD 226.0 million (USD 42.28/share). The Company’s share price increased by 8.6% from USD 26.00 as of 31 December 2016 to USD 28.25 as of 30 June 2017. As a result, NAV discount decreased to 32% from 39% in December 2016.

Report

Press Release

Capital Dynamics acquires the 280 Megawatt (MW) California Flats Solar Project in Monterey County from First Solar

On 22/08/17 it was announced that Capital Dynamics AG has acquired the 280 Megawatt (MW) California Flats Solar Project in Monterey County from First Solar Inc., a Tempe, Arizona-based solar modules manufacturer. The project comprises two phases, the 130MW first phase is expected to be commissioned in the fourth quarter of 2017, and the 150MW second phase, which is currently under construction, is expected to be commissioned by the end of 2018. Source: Zephyr read more

Börsengang von Varta?

Der Mikrobatterie-Hersteller Varta will Finanzkreisen Ende Oktober an die Frankfurter Börse. Varta strebe einen Emissionserlös von rund 200 Millionen Euro an, hoffe aber auf eine höhere Bewertung als beim ersten Versuch. Damals war der Börsenwert auf 400 bis 500 Millionen Euro taxiert worden. Mit dem Geld soll unter anderem eine weitere Fabrik gebaut werden, um die boomende Nachfrage nach Knopfzellen für Hörgeräte und Kopfhörer zu befriedigen. Varta gehört dem österreichischen Private Equity Investor Michael Tojner über seine schweizerische Holding Montana Tech (u.a. Alu Menziken), deren Aktien auch ausserbörslich gehandelt werden. Er will nach dem Börsengang zunächst die Mehrheit behalten.

Quelle: FAZ

Private Equity – Int. News

Media Monitoring

Steuern: Was ist bei britischen Private-Equity-Fonds wichtig?

Norwegen sagt Nein zu Private Equity und Infrastruktur

Solutio wirbt 500 Millionen Euro für 6. Private-Equity-Dachfonds ein

Wie gross kann Aurelius noch werden?

Die Mischung macht's: Besser mit Private Equity!

Private Equity Fonds besorgt über hohes Bewertungsniveau

Hans Baumgartner, VRP Private Equity Holding, im Interview

Private Equity Manager sehen bei börsennotierten Aktien mehr Potenzial

Private Debt: Zu mehr Risiko bereit

Ganz grosse Deals werden seltener

Goldgräberstimmung bei kleinen Private-Equity-Deals

Private Equity verbessern Image

Superreiche wenden sich Private-Equity zu

Private Equity: Blackstone kauft mit Freshfields Darmstädter Messtechniker

CMS begleitet Österreichs grösste Private Equity Transaktion 2017: TowerBrook Capital Partners ...

3 Gründe für den M&A-Boom bei Fintechs

Blackstone kauft Schenck von IK Investment

Debt-Investor Muzinich wirbt um Familienunternehmen Capital Dynamics lanciert den Geschäftsbereich Private Credit Asset Management

JPMorgan Is Said to Lead Toys ‘R’ Us Bankruptcy Loan Financing

JPMorgan Chase & Co. is leading a group of lenders arranging a loan that would fund Toys “R” Us Inc. through a bankruptcy reorganization as the retailer inches closer to a Chapter 11 filing. The investment banks, which also include Barclays Plc, Goldman Sachs Group Inc. and Wells Fargo & Co., are among lenders vying for a piece of the loan, according to people with knowledge of the matter, who asked not to be named because the discussions are private. Toys “R” Us was taken private more than a decade ago by Bain Capital, KKR & Co. and Vornado Realty Trust, which loaded the retailer with debt. Last year, the chain extended maturities on some of its borrowings, giving CEO Dave Brandon more time to execute a turnaround plan.

SWF eyes greater international role

One of the world's largest sovereign wealth funds has said that it will target more international alternative assets. Private equity and other alternatives are likely to account for more than 50% of its portfolio during the next 10 years.

Source

Corporate Finance

Sika has agreed to acquire KVK Holding

On 05/09/17 it was announced that Sika AG has agreed to acquire KVK Holding AS, a Prague, Czech Republic-based mortar products manufacturer holding company. Source: zephyr

Stone Estate Swiss may list

On 14/09/17 it was reported that Stone Estate Swiss AG, a Zug, Switzerland-based commercial real estate management services provider, intends to list on SIX Swiss Exchange in the next 12 to 18 months. Source: Zephyr

read more IRF Studie zur «Financial Guidance»

Grösste börsenkotierte Schweizer Gesellschaften kommunizieren gemäss IRF Studie klare finanzielle Leitplanken:

Bis auf eine Ausnahme diskutieren alle dem SMI Expanded zugehörenden Unternehmen in ihrer finanziellen Jahresberichterstattung zukunftsgerichtete Zielgrössen.

Über 80% der Unternehmen äussern sich zu quantitativen Zielgrössen, allen voran zur zukünftigen Entwicklung des Umsatzes.

Gestiegen ist der Anteil der Unternehmen, die im Hinblick auf den Zeithorizont einen mittel- oder langfristigen Zeitraum wählen.

ABB to purchase GE’s industrial solutions unit

Swiss firm ABB is acquiring GE Industrial Solutions, the global electrification division of General Electric (GE), for USD 2.6 billion. The deal is expected to close in the first half of 2018, subject to regulatory approval. Source: Zephyr

Peach Property Group to issue convertible bond

On 18/09/17 it was announced that Peach Property Group AG, a Zurich, Switzerland-based real estate investment services provider, is going to issue a hybrid convertible bond, which will be listed on the SIX Swiss Exchange. The bond has a targeted value of CHF 25 million, but could be up to CHF 59 million, depending on the outcome of the subscription process. Source: Zephyr

White Tale increases Clariant stake

On 19/09/17 it was announced that White Tale Holdings LP has increased its stake in Clariant AG, a Muttenz, Switzerland-based dyes manufacturer, to 15.1 per cent. Based on the closing share price of CHF 23.28 on 15/09/17, the last day of trading before the transaction, the deal value can be estimated at CHF 389m. Source: Zephyr

Kora Investment to acquire a stake in Rifle

On 19/09/17 it was announced that Kora Investment (Lugano, Switzerland) is to acquire a 44 per cent stake in Rifle Srl, the Barberino di Mugello, Italy- based denim apparel manufacturer company from Mr Giulio Fratini. A newco have been established, Rifle & Co, with the main aim of a product renovation and the creation of a new line for millennial. Source: Zephyr SIX processes payment review: Reuters

A flurry of dealmaking within the global payments services category has prompted SIX Group to take a close look at how its payments arm fits within the operations of the Swiss stock exchange, Reuters reported. People with knowledge of the matter told the news provider a sale could be worth up to CHF 2.0 billion (USD 2.08 billion), or 14 times the unit’s expected core earnings of roughly CHF 145.0 million.

SIX’s card processor is billed as the market leader in Switzerland, Austria and Luxembourg and one of the biggest in Europe, with 1,100 employees and ten locations worldwide supporting clients in 33 different countries. The division provides the prerequisites for the acceptance and handling of payments both at home and abroad and at point of sale as well as on the Internet. © Zephus Ltd

Givaudan to acquire Grupo Centroflora's nutrition unit

On 20/09/17 it was announced that Givaudan SA has reached an agreement to acquire the nutrition division, known as Centroflora Nutra, from Andiro do Brasil Extracoes SA (Grupo Centroflora), a Botucatu, Brazil-based botanical extracts and active pharmaceutical ingredients (APIs) manufacturer. Source: Zephyr

Flynt Bank may launch capital increase

On 25/08/17 it was reported that Flynt Bank AG, the Zug, Switzerland based online wealth management Software-as-a-Service (SaaS) provider, is looking to carry out a capital increase. Source: Zephyr

Mergers & Acquisitions

Centerbridge to acquire Sompo Canopius from Sompo

On 01/09/17 it was announced that Fortuna Holdings Ltd, a holding company of Centerbridge Partners LP via Centerbridge Capital Partners III (Cayman) LP, is going to acquire Sompo Canopius AG, a Zurich, Switzerland-based insurance services holding company, from Sompo Japan Nipponkoa Insurance Inc. The consideration is USD 952.4 million (JPY 105.1 billion). The transaction is expected to complete in the first quarter of 2018. Source: Zephyr

read more Kellerhals Carrard acquires PSM

On 04/09/17 it was announced that Kellerhals Carrard Bern KlG has acquired PSM Law SA, the Lugano, Switzerland based legal services provider, for an undisclosed consideration in a transaction described as a merger. The transaction is retroactively effective from 01/09/17. PSM has changed its name and now trades as Kellerhals Carrard Lugano SA. Source: Zephyr

Buhler to acquire Haas

On 12/09/17 it was announced that Bühler Holding AG is going to acquire Haas Food Equipment GmbH, a Vienna, Austria-based biscuit and wafer production machinery manufacturer. The transaction is subject to regulatory approvals and is expected to complete by the end of 2017. Source: Zephyr

Sulzer to acquire Transcodent

On 15/09/17 it was announced that Sulzer AG has signed a binding agreement to acquire Transcodent GmbH & Co. KG, a Kiel, Germany-based medical syringe component manufacturer. The transaction is expected to complete in the third quarter of 2017. Source: Zephyr

Metrohm acquires majority stake in DropSens

On 11/09/17 it was announced that Metrohm AG acquired a majority stake in DropSens SL, a Llanera, Spain-based electrochemistry instruments developer. Following completion DropSens will change its name to "Metrohm DropSens". Source: Zephyr

read more acmeo acquires net-point majority stake

On 12/09/17 it was announced that acmeo GmbH has acquired a majority stake in net-point AG, a Zug, Switzerland-based online software and electronics store operator (Tobias Eberhart, Chairman). Source: Zephyr

Avobis acquires Hypothekenbörse AG

Avobis group, Switzerland’s leading independent mortgage and real estate services provider, acquires Hypothekenbörse AG (“Hypothekenbörse”), a consulting company with a focus on mortgage portfolio management and a managed mortgage volume of more than CHF 3bn. Wineus has advised Avobis and managed the process during all stages until the successful completion of the transaction.

Management Buyout

Media Monitoring

Hochdorf kämpft an mehreren Fronten

Werkzeuge für alle Fälle

Nestle acquires majority stake in Blue Bottle Coffee

On 14/09/17 it was announced that Nestle SA has acquired a 68 per cent stake in Blue Bottle Coffee Inc., an Oakland, California-based coffee producer, for a reported value of up to USD 500 million, valuing the entire company at over USD 700 million. Current management will retain the remaining stake in the company. Blue Bottle Coffee was backed by Index Ventures SA, True Venture Management LLC, Fidelity Management & Research Company, Google Inc. via GV, JP Morgan and Morgan Stanley. Nestle has the option to acquire the remaining stake in Blue Bottle, providing certain performance criteria are met. Source: Zephyr

Debiopharm acquires stake in Gammed from management

On 13/09/17 it was announced that Debiopharm Investment SA, a subsidiary of Debiopharm International SA, has acquired a minority stake of undisclosed size in Gammed AG, the Zug, Switzerland based psychiatry and psychotherapy clinic operator holding company (the holding company of Les Toises clinics), from its management which retains the remaining majority stake. The Les Toises clinics were founded by Dr Franziska Gamma Van Appelghem and Mr Jean-Marie Van Appelghem. It is currently unclear if they sold a stake in Gammed in this transaction. Source: Zephyr

Book of the Week

Die Kunst der Kundenbeziehung

Die besten Ratschläge für ein langfristig profitables CRM

Dieses Fachbuch liefert alles, was ein Marketer über Kundenorientierung wissen muss. Das Besondere: Erzählt werden kurzweilige und unterhaltsame Geschichten aus der Praxis, die zur Etablierung nachhaltiger und langfristiger Kundenbeziehungen maßgeblich sind.

weitere Informationen und Bestellung

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

SEE Private Equity and M&A Forum 2017

Thursday, 5 October 2017, Metropol Palace, Belgrade, Serbia

Register today for the "10th Southeast Europe Private Equity and M&A Forum" to join 150 regional and international investors to understand where their money is going, discuss current market struggles and listen to real-life case studies on transactions that have been recently completed.

For more information, please visit the website and contact David Cambell, [email protected] or register online to book your place. SECA members can use the code DC20 to receive a 20% discount. EURUS 2017 Private Capital Forum

12 October 2017, Gottlieb Duttweiler Institute, Rüschlikon (Zurich)

EURUS is a foremost high-level international private capital forum bringing together leading fund and asset managers, institutional and private investors, family offices, top-tier consultants, business executives and entrepreneurs with interests in the broader European private markets.

SECA Members profit form a 45% discount – Apply Code GUEST2017

Special “Entrepreneur under 35” rate (limited spots) CHF 250

For more information and registration, click here.

To view select companies attending EURUS 2017, click here.

Invest Europe Venture Capital Forum

24-25 October, Münchenbryggeriet (The Brewery), Stockholm

As a valued SECA member, Invest Europe is delighted to invite you to join the Venture Capital Forum in Stockholm on 24-25 October to gain a deeper understanding of what is happening in the VC market across Europe to ensure your business generates strong returns in 2018 and beyond.

SECA member profit from an exclusive 15% discount until 29 September when you register here using code SPEX04

more information

Batch 2 - Investor Day

Thursday, November 2, 2017, Förrlibuckstrasse 10, CH-8005 Zürich (2nd Floor – elevators on right side of reception)

Please RSVP to [email protected] - Space is limited

Agenda 3:30pm – Signin 4:00pm – Welcome Introduction 4:05pm – 14 Startup Investor Pitches 6:30pm – Closing Remarks 6:35pm – Apero and Networking

Valuation Training with Prof. Aswath Damodaran

7 - 8 November 2017, Samsung Hall, Zurich

The Institute for Mergers, Acquisitions & Alliances (IMAA) has the privilege to cooperate with Prof. Aswath Damodaran and is offering a two-day valuation training with the Valuation Expert. Do not miss this opportunity to learn from one of the world’s best and motivating instructor on valuation. SECA-members benefit from a 10% discount on the current ticket price with the discount code „seca2017“. Places on the program are limited and will be confirmed on a first-come, first-served basis.

more information and registration

Swiss M&A and Private Equity Forum 2017

23 November 2017, The Dolder Grand, Zurich

Mergermarket’s 6th annual Swiss M&A and Private Equity Forum will examine current M&A opportunities for private and public Swiss companies, bringing together a mix of local and international banks, corporates and private equity houses.

For more information and registration, please visit this Link. SECA Members profit from a 20% discount.

0100 Conference Vienna 2018

Thursday, 15 February 2018, Hilton Vienna, Vienna

Where Western and Eastern European Investors Meet

One day event dedicated to the private equity industry covering from venture capital, growth capital to buyouts, and secondaries. We are bringing together top tier GPs & LPs from around the world to give talks on a wide range of subjects, to share insights, and to build a valuable network. Our main idea is to bridge West & East European Private Equity ecosystems. Come and meet 300+ high profile attendees; leading VC/PE fund partners, family offices, business angels, fund of funds, pension funds, and sovereign funds.

In order to register, please use this link

Formation pour administrateurs

La Swiss Board School en coopération avec le Swiss Board Institute, HEC Lausanne, la GSEM de l'Université de Genève et l’IMP de l’Université de St-Gall propose un programme de formation en 6 sessions (avec certificat final) qui s’adresse aux membres de conseils d’administration ainsi qu’aux membres de direction générale de sociétés suisses cotées ou non cotées. Ce programme met l'accent sur les compétences, les connaissances, les outils et les best practices des administrateurs et propose un modèle de gouvernance durable d'entreprise.

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Upcoming SECA and Young SECA Events - save the date

SECA Breakfast Event - Venture Capital für Institutionelle Anleger, Donnerstag, 28. September 2017 SECA Evening Event - Legal & Tax Dienstag, 24. Oktober 2017, Zunfthaus zur Meisen, Zürich

SECA Training Romandie - Cycle de sept formations inter-entreprises dédiées au capital investissement (private equity)

SECA Event - R&W Insurance: A Means to Bridge the Gap between Buyer and Seller, November 6, Geneva

6. SECA Private Equity Workshop 3./4. und 17./18. November 2017, Zurich

SECA Breakfast Event Freitag, 17. November 2017, AuPremier, Zürich

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

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.