Annual Review – Adding value Image

Adding value

Adding value for our clients isn’t just about adding financial value. It’s about being a partner they can trust to provide connections and insight.

It’s also about adding value by giving them access to our extensive local and global connections with financial institutions. Adding value by sharing our in-depth knowledge of the key sectors and trends driving the world economy.

Calling on our global reach becomes ever more important in today’s world. It is epitomised by a string of deals over the past year in which we have helped companies take the next step in their own global journeys.

One example is the Fishawack Group, a specialist provider of scientific communications services to global pharmaceutical companies with operations in the UK, US and Switzerland. The tertiary buyout, backed by private equity house LDC, will now enable management to accelerate a buy-and-build strategy.

Another example is German label producer X-label which merged with the German RAKO Group and Brazilian market leader Baumgarten. X-label specialises in the production of innovative labels as well as packaging and supply chain solutions across various fields including home and personal care, automotive, food and beverage, and healthcare.

IN-DEPTH RESEARCH: SPOTTING THE MEGA TRENDS

Mega trends run through the heart of virtually every transaction we deliver. One is the ever-increasing significance of cloud-based technologies, a sector where our TMT team has advised on a number of deals in recent years. We also continue to champion the industry through our Cloudex awards which celebrate the most innovative and fastest growing companies in the sector.

A deal in this space saw Exerp, a Danish provider of cloud-model enterprise club management systems for the fitness and leisure industry, sold to Technogym, a manufacturer of high-end fitness equipment. The transaction allows Exerp to speed up its global expansion and foster more innovative software solutions.

We also advised Reditus on the sale of ROFF, a leading Portuguese company focused in SAP consultancy services, to Gfi Informatique, a French-based firm specialising in IT and communication services. The deal allows Gfi to further expand its European reach.

 

Annual Review – Adding value Image
Annual Review – Adding value Image

Cyber security is another mega trend, with the sector undergoing a wave of M&A activity as large corporates react to high profile data leaks and information security breaches through the acquisition of specialist security consultancies.

Last year, a notable deal saw us advise the consulting division of the Irish Espion Group, a leading IT and security consultancy, on its sale to business standards company BSI.

Another defining trend of our time is the transformation of healthcare as it deals with the consequences of a rising global elderly population. We advised Sidhil, a UK manufacturer of hospital and home healthcare beds, on its sale to US company Drive DeVilbiss Healthcare, and PE house NorthEdge Capital on the buyout of Direct Healthcare Services, a manufacturer of pressure area care solutions.

Our French team has developed particularly strong expertise in this sector, advising on six transactions including Groupe 3H on its sale to SISIO and home care specialist Colisée on a number of acquisitions.

GLOBAL CONNECTIONS

Another way in which we add value for our clients is by working closely with our own industry and the sectors in which we specialise.

We provide cutting-edge research for the market, such as our bespoke analysis of the multiples being paid by PE for businesses across Europe. Our research also extends to reviewing the performance of companies, such as our analysis of the 50 fastest growing recruitment companies in the UK.

And overlaying all our research, we provide wider sector comment through our online blogs, as well as through our range of in-house sector publications.

Internal connections remain key too. As our own firm has grown internationally, so has the importance of regular communication between our teams. We hold sector calls each month with each international sector team, while our staff regularly meet up in person at partner conferences and other company events.

COMMUNITY INVOLVEMENT

Our connections also spread into the wider community, and over the past year we have been proud to support a number of charities.

Our French team has been mentoring people from difficult backgrounds to become entrepreneurs and start their own businesses through ‘La fondation de la 2e chance’, while the UK has been working with primary schools and the renowned Manchester Camerata orchestra to create Shakespearian inspired music and songs. A team from across our offices also cycled from London to Paris, raising €20,000 for the READ Foundation which provides school places for children affected by poverty.

Case studies

Annual Review – Adding value Image
Annual Review – Adding value Image

Advising the shareholders of TotalSoft on its crossborder sale to Logo Software Investment SA

Clearwater International has advised Greek private equity house Global Finance, the majority shareholder of TotalSoft, in addition to other shareholders, on its sale to Logo Software Investment S.A. (Logo) – a 100% subsidiary of Logo Yazılım Sanayi ve Ticaret A.Ş. Logo has acquired 100% of TotalSoft shares for an enterprise value of €30m.

“This deal was all about international ambition. A Romanian IP owner with Greek investors, and a high quality and ambitious listed Turkish buyer extending its footprint in CEE.” Carl Houghton, Partner, Clearwater International

Read more about this transaction.


Working together for charities

16 members of our Paris office took part in ‘Vertigo’; climbing the 48 storeys of the First Tower of La Défense to raise funds for NOG Play International, which promotes education through sport. Also, members of our UK team completed the London Marathon, raising over €25,000 for Aspire, which provides practical help to people who have been paralysed by spinal cord injury.

Read more about our charitable activity.

Annual Review – Adding value Image

Annual Review – Adding value Image

Providing cutting-edge research for private equity

Researching and publishing analysis of the acquisition multiples paid for private equity-backed buyouts across Europe

Our research identifies where multiples are highest across regions and sectors, and the direction of those multiples over time to assist private equity investors in assessing which regions and sectors present good investment opportunities.

See our Multiples Heatmap analysis.


Advising the owners of Exerp on its majority share sale to Technogym

With the acquisition of Exerp, Technogym strengthened its digital ecosystem and increased the company’s capability to offer fitness operators a complete solution in order to improve the end user experience.

Read more about the transaction.

Annual Review – Adding value Image

Annual Review – Adding value Image

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Advising private equity group Maj Invest on its divestment of J. Hvidtved Larsen

Generating significant interest from global industrial players and private equity investors

Clearwater International Denmark acted as financial advisor to the Private Equity Group Maj Invest (and the joint shareholders) in the divestment of J. Hvidtved Larsen A/S to Bucher Industries AG. Maj Invest acquired J. Hvidtved Larsen in 2006.

Read more about this deal.


Expanding network of senior advisers

Supported by a number of high-profile senior advisers who are all former top-tier executives with relevant product knowledge and a far-reaching network of contacts.

With immediate effect, Mr. Shu Ebe, automotive expert from Japan, will be supporting the Senior Adviser Board of Clearwater International, a globally active corporate finance house focusing on mid-market transactions. Shu Ebe is 64 years old and has decades of management experience in the international automotive and automotive supplier industry as well as an excellent network of business and political contacts in Japan.

Read about Shu Ebe joining our Senior Adviser Board. 

Annual Review – Adding value Image

Annual Review – Adding value Image

Advising IS Inkasso Service on its sale to Lowell GFKL Group

A highly strategic acquisition concluding a long-standing relationship between the two businesses.

Clearwater International has acted as sole financial adviser to HANNOVER Finanz and the management on the sale of 100% of the share capital of IS Group Management GmbH (trading as IS Inkasso Service) to Lowell GFKL Group, a portfolio company of Permira Funds and Ontario Teachers’ Pension Plan.

Read more about this transaction.


Advising Reditus on the sale of leading SAP consultancy services firm ROFF to Gfi Informatique

The sale was part of Reditus’ strategic repositioning, allowing it to accelerate its ongoing restructuring plan

Clearwater International has advised Reditus on the sale of ROFF, a leading Portuguese company focused in SAP consultancy services, to Gfi Informatique. Established in 1996, ROFF is a leading Portuguese group offering SAP implementation and maintenance services, running projects in all technological areas of business support. With over 800 employees and offices in 10 countries, ROFF has a turnover around €60m, nearly 50% of which is generated from international projects.

Read more about this deal.

 

Annual Review – Adding value Image