About the company
Appetize Technologies is a provider of cloud-enabled point of sale, digital ordering and enterprise management software for multi-unit restaurants, sports and entertainment venues, education campuses, convention centres, theme parks, travel and leisure attractions, and more.
Why invest
Appetize Technologies’ business model is based on long-term contracts with a stable enterprise client base. Shamrock Capital Advisors (“Shamrock”) saw an opportunity to invest in a business exhibiting multiple avenues for growth through increased channel penetration, cross-selling and international expansion.
Shamrock has a deep knowledge of the company, having owned Appetize Technologies through a prior fund.
Our relationship
Pantheon has an active co-investment relationship with Shamrock Capital Advisors and PIP, through the Pantheon platform, has completed four co-investments alongside the manager.
Active management
Pantheon was one of two co-investors approached by Shamrock due to the deal complexity and the speed of execution required.
About the company
North American Science Associates (“NAMSA”) is a contract research organisation (“CRO”) which provides outsourced research and development services to medical device companies. The company offers product development strategy, medical device testing, regulatory and quality control testing, and clinical research services to its clients. NAMSA has approximately 980 employees and a customer base including the top 30 medical device companies.
Why invest
The depth and breadth of NAMSA’s scientific, medical and regulatory expertise is widely recognised by the medical device industry. The company is well positioned to benefit from growing regulatory complexity and the resulting trend towards outsourcing.
ArchiMed is a healthcare-focused manager with sub-sector level knowledge and expertise that enables the sourcing of proprietary deals.
Our relationship
Pantheon established a co-investment relationship with ArchiMed after completing a manager-led secondary transaction with the private equity manager.
Active management
ArchiMed has an extensive deal sourcing network and, at the time of the transaction, already had a pipeline of near-term potential add-on acquisitions for NAMSA. As a consequence, two accretive add-on acquisitions were completed less than six months after the initial investment.
The manager has also pushed forward with plans to strengthen management team capabilities and further align incentive plans. A new CEO was appointed in April 2021. He is a former Operating Partner of ArchiMed.
About the company
Visma is a leading provider of mission-critical enterprise resource planning, accounting, payroll and transaction process outsourcing software to small and medium-sized businesses and to the public sector in Northern Europe.
The investment rationale
Hg saw an opportunity to invest in a company with strong year-on-year growth underpinned by the ongoing shift towards greater digitalisation and process automation, a succession of new customer wins and scale built through over 80 add-on acquisitions.
Software is a core sector for Hg and the manager has deep knowledge of both the sector and the company, having owned Visma across its funds over the past decade.
Our relationship
Pantheon has a long-standing relationship with Hg, having made primary commitments to its funds since 2006. PIP co-invested in three other transactions alongside Hg.
About the company
KD Pharma Group is a leading global producer of Omega-3 ingredients focused on highly purified Omega-3 fatty acids for pharmaceutical and nutraceutical products.
Investment rationale
KD Pharma Group is a market-leading business with key competitive advantages based on patented technology and processes. The company has an integrated supply chain that facilitates margin benefits, a strong repeat client base, and a strong brand based upon being a reliable and consistent producer of high-quality Active Pharmaceutical Ingredients (APIs).
KD Pharma has grown from a single-digit revenue business to one of the industry’s largest players.
Our relationship
PIP’s long-standing relationship with German mid-market buyout firm capiton, which started with a series of primary investments, has enabled PIP to participate in this attractive investment opportunity.
About the company
Juice Plus is a direct seller of whole food-based nutritional products including fruit and vegetable capsules and nutritional shakes.
By investing in Juice Plus alongside Altamont Capital Partners, PIP intends to capitalise on consumer lifestyle changes driven by healthy eating trends.
About the company
MediFox is a leading provider of software solutions to over 6,000 ambulatory care services, elderly care homes and therapists in Germany. Key services include resource and route planning, care documentation, as well as billing and administration services.
We invested in Medifox alongside Hg Capital to gain exposure to a recurring revenue business that is able to respond to demographic trends in Germany, such as the shift to outpatient care and efforts to increase productivity in healthcare.