Bridgepoint | The Point | May 2021 | Issue 39
Ins & outs
The transaction is designed to drive growth at Sun World by building a broad-based genetics and technology platform for speciality fruit growers. The company traditionally works with grapes and stone fruit but has recently begun studying several underserved crops and technology to support them. There are also opportunities to acquire new genetics and emerging technologies.
Bridgepoint news
Bridgepoint snaps up
Swiss cybersecurity firm
Bridgepoint has acquired one of Europe’s leading cybersecurity specialists, Infinigate
The enterprise cybersecurity market is one of the fastest growing in Western Europe. Worth an estimated €10 billion, it is expanding by around 10 per cent annually as the threat of cybercrime intensifies, companies’ information technology systems become more complex and regulations around data protection grow increasingly stringent.
Infinigate is the foremost distributor of value-added cybersecurity solutions in Germany, Austria, Switzerland and the Nordic region, and is ranked number two in Europe.
Headquartered in Rotkreuz, Switzerland, it offers state-of-the-art security solutions from more than 70 vendors through a network of more than 10,000 partners.
The group was founded in 1996 and has grown consistently over the past 25 years. Employees now exceed 450 and the business is expected to have generated gross revenues of more than €600 million in the year to March 2021. Led by CEO Klaus Schlichtherle, Infinigate focuses on innovative and specialised security solutions, complemented by dedicated technical, marketing, sales and professional services for both partners and vendors.
Bridgepoint partner Christopher Brackmann says: “Infinigate is an exciting platform in a growth market, with an experienced management team. With Bridgepoint’s support, it will be well placed to capitalise on its high-quality vendor base and long-standing reseller relationships.” n
BDC teams up with marketing agency as growth soars
IDHL is a fast-growing digital marketing agency based in Harrogate, Yorkshire. Bridgepoint Development Capital has now partnered with the business providing a substantial investment to foster and drive future growth.
With more than 240 staff, IDHL helps businesses across the UK to maximise their digital potential through search engine marketing, automated email marketing, e-commerce and web design and build.
The company delivered record growth in 2020, with unaudited EBITDA of £5.6 million and revenues of £19.4 million, an increase of nearly 40 per cent from 2019. Having completed several acquisitions in recent years, CEO and founder Dennis Engel has amassed a portfolio of seven brands across five locations. Supported by BDC, Engel now hopes to build on IDHL’s acquisition record, both at home and overseas n
Swedish dermatology group wins backing for expansion
The company was founded in 2012 by CEO Philip Jerlmyr and three dermatologists to address demand for high-quality medical dermatology treatments. Headquartered in Stockholm, DCH focuses on treating melanoma, psoriasis and other severe dermatology conditions.
This market is underpinned by structural growth drivers, including an aging population and an increase in skin diseases, such as skin cancer.
Today DCH is the clear market leader in Sweden, operating from six clinics across four cities. With a high-quality platform, the group is well placed for growth in the fragmented dermatology markets of Northern Europe.
“We are very impressed by DCH’s successful expansion to date, creating the leading dermatology provider focused on clinical excellence and high customer satisfaction, thanks to its having the best dermatologists. We look forward to supporting the DCH team in its next phase of expansion,” says Bridgepoint Growth partner Ann Dahlman n
An exit for Calypso after business transformation
Leading financial software specialist Calypso Technology has been sold by Bridgepoint
San Francisco-based Calypso Technology is one of the foremost providers of software to the capital markets industry, with a suite of products encompassing trading, risk management, regulatory reporting and accounting.
The group’s award-winning software improves reliability, adaptability and scalability across several areas of the financial services industry, such as capital markets, investment management, central banking, clearing, treasury, liquidity and collateral.
Acquired by Bridgepoint in 2016, Calypso’s products are now used by some 35,000 market professionals in more than 60 countries worldwide. These customers represent more than 190 financial institutions, including banks, insurers, asset managers and pension funds. Over the past five years, the business has been through a period of significant transformation. Internal processes were enhanced, the management team was upgraded and the company moved from selling perpetual one-off licences to offering software as a service, via annual licences. “We are proud to have partnered with Calypso and its management team through this time. Alongside a range of operational initiatives, the transition of the business to a cloud model, combined with best-in-class client service, was undoubtedly key in accelerating growth. The business is now well placed for the next stage of its evolution,” says David Nicault, partner and global head of digital, technology and media at Bridgepoint. Calypso has been sold to US private equity firm Thoma Bravo n
Here comes the sun
Sun World is a global pioneer in fruit genetics with a track record stretching back to the 1970s. Bridgepoint has now acquired the California-based company, which owns more than 300 plant patents and licenses around 1,800 growers in 15 countries, including Chile, Israel, South Africa and Spain.
The transaction is designed to drive growth at Sun World by building a broad-based genetics and technology platform for speciality fruit growers. The company traditionally works with grapes and stone fruit but has recently begun studying
several underserved crops and technology to support them. There are also opportunities to acquire new genetics and emerging technologies.
“Sun World was part of the first wave of genetic innovation for produce, establishing a recurring royalty business model that has enabled it to prioritise R&D innovation. Today it enjoys a market-leading reputation with the largest growers, distribution partners and retailers globally thanks to its cutting-edge molecular techniques and breeding processes. We expect to continue to invest in new technologies that benefit growers and consumers alike,” says Bridgepoint partner Andrew Sweet.
Sun World, led by CEO David Marguleas, recently opened an innovation centre, featuring a sophisticated fruit breeding and variety development operation and a 160-acre research farm n
BDC acquisition set to boost pharmaceutical advisory firm
Bridgepoint Development Capital has acquired Prescient, a global advisory firm serving the pharmaceutical and biotech industries.
Founded in 2007, Prescient provides product strategy services to help its clients make better clinical and commercial decisions, resulting in enhanced outcomes for patients.
Over the years, the business has developed a reputation for combining expertise, experience and evidence to help clients maximise the potential of their products, at every stage of the drug development and commercialisation process.
Headquartered in London, with offices in the US, India and China, Prescient works with many leading multinational pharmaceutical companies, as well as a growing number of emerging biotech and speciality pharmaceutical organisations.
“We’re delighted to partner with Prescient to help it drive growth and consolidate its market leadership. This will be achieved through a combination of investment to enhance scale and expertise, organic growth and selective mergers and acquisitions, with the aim of becoming the leading technology- and data-enabled strategic product partner of choice for decision support and advisory services to the large pharma industry,” says Bridgepoint Development Capital partner Stephen Bonnard n