Icona Capital and Stoneweg Form SWI Group and Complete Acquisition of Cromwell's European Platform

BCI, Neuberger Berman, StepStone and Skandia Acquire Minority Stake in Waterlogic

April 28, 2020

Manufacturing

British Columbia Investment Management Corporation (BCI), joined by Neuberger Berman, StepStone and Skandia, has closed the acquisition of a significant minority stake in Waterlogic from funds managed by Castik Capital and the Waterlogic management team. The institutional investors provide growth capital to support Waterlogic's global expansion and M&A activity; Waterlogic reports ~ $400M in annualised revenues, c.3,000 employees and ~550k dispensers on rental/service contracts across 17 direct markets.

NatWest Makes Strategic Minority Investment in Icon Solutions

March 14, 2024

Payments & Fintech

NatWest Group has made a strategic minority (growth) investment in Icon Solutions to deepen their partnership and accelerate the bank's payments modernisation using Icon's low-code Icon Payments Framework (IPF). The investment aims to speed delivery of new payments capabilities, provide customers with more choice and support future payments innovation across NatWest's payments estate.

IWMAC and Egain Merge to Create Pan‑European Building Energy Management Platform

March 17, 2021

Energy

Swedish PE-backed Egain and Norwegian SCADA specialist IWMAC have merged to form a new company combining their building connectivity and energy‑management platforms. The combined business will operate across seven countries with c.120 employees, leverage IoT, AI and big data to optimise building energy use, and pursue further buy-and-build expansion; Summa Equity remains a significant shareholder and Pivot Invest is represented on the board.

STOK Acquires BEWI's Packaging Trading Business (BEWI Food)

October 30, 2024

Packaging

STOK, a portfolio company of A&M Capital Europe (AMCE), has entered into a binding agreement to acquire BEWI's trading business ("BEWI Food"), a leading distributor of food packaging in Norway and Iceland. The deal is STOK's first add-on since AMCE's April 2024 investment and is intended to create a leading packaging distributor across Denmark, Norway, Iceland and Greenland, with combined pro forma sales of ~€190m in 2024.

Equistone Partners Europe Acquires Franke Water Systems (KWC & WSC) from Franke Group

March 2, 2021

Building Products

Funds advised by Equistone Partners Europe have agreed to acquire Franke Water Systems, the kitchen and bathroom fittings division of Franke Group, in a carve-out transaction. Industry executive Thorsten Klapproth is joining as a co-investor; the division (comprising KWC Group and WS Commercial Group) employs ~900 people and generated over CHF 192m in 2020. Financial terms are undisclosed and the deal remains subject to competition approval; management will continue to run the business and the investment will support international expansion and product development.

Stonebridge Partners Recapitalizes Godwin Formwork Solutions

April 7, 2022

Building Products

Stonebridge Partners completed a recapitalization of Godwin Formwork Solutions, with equity capital provided by Stonebridge, Five Points Capital, 747 Capital and company management and debt financing provided by Regions Bank and Five Points Capital. Founder Chad Godwin remains CEO and retained the largest individual ownership stake; Stonebridge plans to support growth of Godwin's branch network across targeted Midwest and Southwest U.S. markets. The transaction closed April 7, 2022.