Category Archives: Mergers & Acquisitions

Business, Cardiff, Mergers, Mergers & Acquisitions

Two south Wales storage businesses announce merger to drive growth and funding opportunities

CARDIFF based blue self storage Ltd (bss) and Maltings Document Storage Solutions (MDSS) have announced their merger to create a new entity branded as ‘Blue Storage Group’, while continuing to operate under the existing brands.

 

While both companies operate profitably and sustainably, the markets in which they operate are changing rapidly with the emergence of new digital technologies. Becoming a larger entity will allow greater investment in new systems and processes, and both companies to take advantage of new funding opportunities, grow operations and scale up geographically.

 

blue self storage is one of the leading container storage providers in the UK, providing storage services for homes, business, vehicles, and removal companies. The fast-growing company has facilities across the UK in Cardiff, Tyneside, Bridgend and a soon-to-be-launched Gloucester site.

 

Maltings Document Storage Solutions, based in Cardiff, provides reliable document storage and management solutions. MDSS has over 40 years’ experience providing its bespoke services in Cardiff and surrounding areas, with aspirations to expand further into England in the near future.

 

Chris Bryan, Managing Director of blue self storage, will assume responsibility for the strategic direction of the overarching entity that includes both companies, and Dean Daly will continue as Operations Director at blue self storage. Gareth Oram will also continue as a non-executive director of MDSS, with the day-to-day operations being steered by Commercial Director, Chris James.

 

Chris Bryan said “This merger will enable us to improve our current offerings, expand our services, and deliver better value to all our customers. While both businesses offer storage solutions to different industries, the infrastructure that’s required for both offerings are very similar.

 

“We have ambitious plans for Blue Storage Group; building on the recent opening of our Bridgend operation, we are currently finalising our plans to open a facility at Gloucester and have several other sites in the pipeline”

 

Gareth Oram added: “The merger represents a strategic move towards greater growth and efficiency. We believe that we will be better positioned to pursue opportunities and continue our aim to be one of the key innovators in what is a very competitive sector. Striving towards innovation, we have invested in the latest digital software and technology so that we can focus on consistent, high-quality service for all our customers, large or small.”

Employee Benefits, Mergers & Acquisitions, News

Benefits Experts Vivup and Perkbox Combine, Creating a World-Class, All-in-One Employee Wellbeing, Benefits and Engagement Platform

Strategic Majority Investment from Great Hill Partners to Enhance Go-to-Market Capabilities and Accelerate Growth Opportunities

Vivup, a leading provider of world-class health and wellbeing benefits, and Perkbox, an award-winning global benefits and reward platform, have this week announced an agreement to combine and a strategic majority investment from Great Hill Partners, a growth equity firm that invests in high-growth, disruptive companies.

This brings together combined strengths with the goal of offering a truly market leading solution for the UK’s public and private employee benefits sectors. Great Hill Partners’ investment will help the newly strengthened organisation scale its go-to-market capabilities, innovate product offerings, and accelerate organic and inorganic growth opportunities. Omni Partners (“Omni”), a lower mid-market focused investor in UK private companies, invested in Vivup in 2022 and will retain a minority stake to continue supporting the combined company’s growth. The agreed transaction is subject to Financial Conduct Authority (FCA) authorisation.

Vivup and Perkbox are powered by a global team of professionals, together supporting over 4 million employees across almost 7,500 organisations. This includes over 85% of the UK’s National Health Service (NHS), helping improve the lives of its people via leading employee wellbeing, benefits, engagement, and recognition & reward solutions. Powered by complementary expertise, this newly integrated proposition of world class products will be instrumental in supporting more organisations and their employees across Europe and APAC. Vivup brings a strong heritage and expertise of working with the public sector providing leading wellbeing, family care, and product expertise in Salary Sacrifice Benefits, giving employers tools to connect their workforce and help their people thrive. Perkbox is a leader in Employee Discount Schemes and Reward and Recognition technology that enables organisations to better motivate and financially support their employees. Vivup and Perkbox brings together two like minded organisations with an aligned mission and set of values that will help employers to better care for, connect with and celebrate their employees.

Day-to-day executive leadership will remain consistent across the combined businesses with Vivup CEO Simon Moyle serving as the newly formed company’s Group CEO, and Perkbox CEO Doug Butler serving as Group executive chairman. After 20 years in management and leadership roles delivering innovation and development in the UK retail services market, Moyle has spent the past five years leading the transformation and rapid growth of Vivup into the market leading employee benefits provider it is today. He has led Vivup to achieve record growth and created an award-winning culture that is people centric and empowering. Butler, who became Perkbox’s CEO in December 2023, brings over 30 years of leadership experience, having run businesses across the technology, telecommunications and the employment engagement sectors. Butler is a long-time executive working with Great Hill, most recently as CEO of former Great Hill portfolio company Reward Gateway, a global HR technology and employee engagement company. Great Hill Partners’ Drew Loucks, Chris Busby and Mats Heimes will join the company’s Board of Directors.

 

Simon Moyle said: “It is amazing to bring these two great organisations together. Pending FCA approval, we will be in the best possible position to support people and organisations across the UK in a very special and unique way. It is rare to find a combination such as Vivup and Perkbox where between us, we have the leading products needed across voluntary benefits, wellbeing and recognition and reward, yet very little overlap in the areas in which we currently operate.  When I joined Vivup over five years ago, our team consisted of 17 people. Since then, our team has expanded significantly to almost 400 and with the addition of our Perkbox colleagues, we will now be over 500 strong. I am so proud of every member of our team and cannot wait to welcome our new Perkbox colleagues and support over 4,500 organisations. These last five years have been amazing but our future as a combined company is going to be even better!”

“Bringing the combined resources and technical product and support capabilities of Vivup and Perkbox together will be boon to the thousands of public and private sector clients and millions of employee users who rely on our solutions to meet their needs and challenges,” added Doug Butler. “I’ve always admired Vivup’s mission and growth under Simon’s leadership and, now supported by Great Hill as an investor, our complementary technology, service offerings and people centric cultures create a perfect combination to support HR professionals and their people.”

 

Great Hill Managing Director Drew Loucks noted: “Today’s exciting milestone creates a new industry player that is well-positioned to capitalise on a large and growing market opportunity. Doug and Simon both have strong track records of scaling industry-leading businesses by creating successful, client-centric cultures and innovative product offerings. We are excited to support the teams and bring Vivup and Perkbox together to deliver a more powerful employee wellbeing, benefits and engagement platform in the UK”

 

Charles Gallagher-Powell, Partner at Omni added: “This deal validates our strategy of partnering with mission-led, fast-growing businesses to help push them to greater heights. Recognising these attributes in Vivup, plus a shared ambition and culture, drove our decision to invest in 2022. We’ve loved every minute of working with Simon and the team since then. We couldn’t be prouder of what Vivup has achieved and are excited to support the new combined entity as a minority shareholder.”

 

The investment from Great Hill Partners has also enabled Vivup to complete the acquisition of The Employee Resilience Company (TERC Ltd), providers of specialist counselling, psychotherapy and employee assistance provision, and Work & Life Partners, specialists in childcare, eldercare and petcare. Both transactions further support Vivup and Perkbox’s focus on becoming the leading provider in the mental health, wellbeing and family care space.

 

Great Hill Partners’ investment in Vivup and Perkbox builds upon the firm’s significant expertise in the employee benefits space, including investments in Reward Gateway, bswift, RxBenefits, Retiree First, ParetoHealth, PlanSource, and more. Financial terms of the transaction were not disclosed.

 

 

About Vivup

Since 2005, Vivup has been providing world-class health and wellbeing benefits to employees across the public and private sectors while arming employers with the tools to cultivate resilient workforces, retain great staff and win the war on talent. Vivup partners with almost 4,000 clients and supports 3.3 million+ employees throughout the UK.

Vivup was awarded UK Employer of the Year at the Investors in People Awards in 2022 and won Best Supplier to Work for at the Employee Benefits Awards in 2023. Simon Moyle, CEO was awarded UK Leader of the Year at the Investor in People Awards in 2022 and won Scale up Entrepreneur of the Year (North East) at the Great British Entrepreneur Awards in 2023. Vivup has also just been awarded Number One SME in the UK by Elite Business.

 

About Perkbox 

Perkbox is the global benefits and rewards platform that allows companies to care for, connect with and celebrate their employees, no matter where they are and what they want. With over 10 years’ experience, Perkbox is trusted by thousands of companies with users across the globe. Its location agnostic globally available platform helps companies with diverse and dispersed workforces harmonise their Employee Value Proposition (EVP) — keeping each employee happy, healthy, and motivated.

 

About Great Hill Partners

Founded in 1998, Great Hill Partners is a private equity firm targeting investments in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. With offices in Boston and London, Great Hill has invested in more than 95 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. Great Hill has been recognized for its industry leadership, being ranked #4 in the 2023 HEC Paris-Dow Jones Mid-Market Buyout Performance Ranking on March 6, 2024, which evaluated fund performance of 632 leading private equity firms between 2010-2019[1]. For more information, including a list of all Great Hill investments, visit www.greathillpartners.com.

 

About Omni 

Omni invests in mission-led, fast-growing and profitable businesses that are looking for their first external capital. These are typically high-margin, UK-based companies that dominate their niche, are driven by culture-focused management teams and make at least £2m EBITDA. Omni approaches investing from a different angle. With a unique team make-up and approach, Omni focuses on shifting the odds in favour of success to turbocharge its investments and ensure that everyone wins together. Omni is authorised and regulated by the Financial Conduct Authority. For more information, please visit www.omni.co.uk

 

Employee Benefits, HR, Mergers & Acquisitions, News

Vivup and Perkbox Merge to Form a Unified, All-in-One Platform for Employee Wellbeing, Benefits, and Engagement

Vivup, renowned for its top-tier health and wellbeing benefits, and Perkbox, celebrated for its global benefits and rewards platform, have announced a strategic merger, backed by a significant investment from Great Hill Partners, a private equity firm focused on investing in high-growth, innovative companies.

This merger unites their strengths, aiming to create a leading-edge solution for both the UK’s public and private employee benefits sectors. The investment from Great Hill Partners will enable the newly fortified company to enhance its market presence, develop new products, and pursue both organic and inorganic growth strategies. Omni Partners, a UK-focused investment firm that previously invested in Vivup in 2022, will maintain a minority stake, supporting the company’s ongoing expansion. The completion of this deal is contingent upon approval from the Financial Conduct Authority (FCA).

Collectively, Vivup and Perkbox boast a global team of experts, supporting over 4 million employees in nearly 7,500 organizations, including over 85% of the UK’s National Health Service (NHS). Their combined offerings aim to improve employee wellbeing, benefits, engagement, and rewards across Europe and APAC. Vivup’s expertise lies in public sector wellbeing and Salary Sacrifice Benefits, while Perkbox excels in Employee Discount Schemes and Reward and Recognition technology. This merger brings together two organizations with shared missions and values, focused on enhancing employer-employee connections and wellbeing.

The leadership structure will remain stable post-merger, with Simon Moyle, Vivup’s CEO, taking on the role of Group CEO of the new entity, and Doug Butler, Perkbox’s CEO, becoming the Group Executive Chairman. Moyle has a successful track record in transforming Vivup into a leading employee benefits provider, while Butler brings over 30 years of leadership experience across various sectors, including a previous role as CEO of Reward Gateway. Drew Loucks, Chris Busby, and Mats Heimes from Great Hill Partners will join the company’s Board of Directors.

 

Simon Moyle said: “It is amazing to bring these two great organisations together. Pending FCA approval, we will be in the best possible position to support people and organisations across the UK in a very special and unique way. It is rare to find a combination such as Vivup and Perkbox where between us, we have the leading products needed across voluntary benefits, wellbeing and recognition and reward, yet very little overlap in the areas in which we currently operate.  When I joined Vivup over five years ago, our team consisted of 17 people. Since then, our team has expanded significantly to almost 400 and with the addition of our Perkbox colleagues, we will now be over 500 strong. I am so proud of every member of our team and cannot wait to welcome our new Perkbox colleagues and support over 4,500 organisations. These last five years have been amazing but our future as a combined company is going to be even better!”

“Bringing the combined resources and technical product and support capabilities of Vivup and Perkbox together will be boon to the thousands of public and private sector clients and millions of employee users who rely on our solutions to meet their needs and challenges,” added Doug Butler. “I’ve always admired Vivup’s mission and growth under Simon’s leadership and, now supported by Great Hill as an investor, our complementary technology, service offerings and people centric cultures create a perfect combination to support HR professionals and their people.”

 

Great Hill Managing Director Drew Loucks noted: “Today’s exciting milestone creates a new industry player that is well-positioned to capitalise on a large and growing market opportunity. Doug and Simon both have strong track records of scaling industry-leading businesses by creating successful, client-centric cultures and innovative product offerings. We are excited to support the teams and bring Vivup and Perkbox together to deliver a more powerful employee wellbeing, benefits and engagement platform in the UK”

 

Charles Gallagher-Powell, Partner at Omni added: “This deal validates our strategy of partnering with mission-led, fast-growing businesses to help push them to greater heights. Recognising these attributes in Vivup, plus a shared ambition and culture, drove our decision to invest in 2022. We’ve loved every minute of working with Simon and the team since then. We couldn’t be prouder of what Vivup has achieved and are excited to support the new combined entity as a minority shareholder.”

 

The investment from Great Hill Partners has also enabled Vivup to complete the acquisition of The Employee Resilience Company (TERC Ltd), providers of specialist counselling, psychotherapy and employee assistance provision, and Work & Life Partners, specialists in childcare, eldercare and petcare. Both transactions further support Vivup and Perkbox’s focus on becoming the leading provider in the mental health, wellbeing and family care space.

 

Great Hill Partners’ investment in Vivup and Perkbox builds upon the firm’s significant expertise in the employee benefits space, including investments in Reward Gateway, bswift, RxBenefits, Retiree First, ParetoHealth, PlanSource, and more. Financial terms of the transaction were not disclosed.

 

 

About Vivup

Since 2005, Vivup has been providing world-class health and wellbeing benefits to employees across the public and private sectors while arming employers with the tools to cultivate resilient workforces, retain great staff and win the war on talent. Vivup partners with almost 4,000 clients and supports 3.3 million+ employees throughout the UK.

Vivup was awarded UK Employer of the Year at the Investors in People Awards in 2022 and won Best Supplier to Work for at the Employee Benefits Awards in 2023. Simon Moyle, CEO was awarded UK Leader of the Year at the Investor in People Awards in 2022 and won Scale up Entrepreneur of the Year (North East) at the Great British Entrepreneur Awards in 2023. Vivup has also just been awarded Number One SME in the UK by Elite Business.

 

About Perkbox 

Perkbox is the global benefits and rewards platform that allows companies to care for, connect with and celebrate their employees, no matter where they are and what they want. With over 10 years’ experience, Perkbox is trusted by thousands of companies with users across the globe. Its location agnostic globally available platform helps companies with diverse and dispersed workforces harmonise their Employee Value Proposition (EVP) — keeping each employee happy, healthy, and motivated.

 

About Great Hill Partners

Founded in 1998, Great Hill Partners is a private equity firm targeting investments in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. With offices in Boston and London, Great Hill has invested in more than 95 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. Great Hill has been recognized for its industry leadership, being ranked #4 in the 2023 HEC Paris-Dow Jones Mid-Market Buyout Performance Ranking on March 6, 2024, which evaluated fund performance of 632 leading private equity firms between 2010-2019[1]. For more information, including a list of all Great Hill investments, visit www.greathillpartners.com.

 

About Omni 

Omni invests in mission-led, fast-growing and profitable businesses that are looking for their first external capital. These are typically high-margin, UK-based companies that dominate their niche, are driven by culture-focused management teams and make at least £2m EBITDA. Omni approaches investing from a different angle. With a unique team make-up and approach, Omni focuses on shifting the odds in favour of success to turbocharge its investments and ensure that everyone wins together. Omni is authorised and regulated by the Financial Conduct Authority. For more information, please visit www.omni.co.uk

Acquisitions & Partnerships, Bristol, Business Expansion, Business Mergers, Acquisitions & Partnerships, Business News, Mergers & Acquisitions, News from England, South West

Rawlings Group Ltd Extends Service Offering with Strategic Acquisition of Paper Bag Company

Rawlings & Son Ltd (Rawlings Group), a multi-brand packaging and drink processing specialist, has acquired Paper Bag Company, in a seven-figure deal advised on by the GS Verde Group.

 

The acquisition brings together the largest independent glass packaging supplier in the UK and the market-leading supplier of bespoke bags for retail and business.

Rawlings Group has a rich history dating back to 1850, starting out by washing and recycling beer bottles and selling them to breweries. Today, Rawlings Group prides itself on its collaborative approach to packaging development and experience-led service, as well as having a focus on sustainability and working towards environmentally positive options.

Paper Bag Co. has been providing alternatives to plastic bags for businesses and retail spaces since its inception 18 years ago. The business draws on expertise in both digital and traditional printing techniques to create a wide range of high-quality, tailored paper, canvas, and reusable cotton bags for their clients.

Rawlings Group and Paper Bag Co. both prioritise an ethical approach to their products and supply chain. Through their accreditations and supply chain Paper Bag Co can offer a wide range of Global Organic Textile Standard (GOTS organic) and Forest Stewardship Council (FSC) certified products; this level of transparency underpins a shared culture and commitment to protect the environment.

Rawlings Group CEO, Tom Wood, said of the acquisition: “The acquisition of Paper Bag Co is an exceptional opportunity for the Rawlings Group. By expanding our product offering in this space we will further develop our range of packaging services that share an ethical and sustainable focus, offering clients an end-to-end service for most packaging requirements.”

Paper Bag Co. CEO, Jon Marling added: “Rawlings Group was the perfect option to continue our journey on a larger platform. The Rawlings team’s ethos and purpose are very much aligned with ours and we are looking forward to developing our people and growing our positive impact & synergies in the future.”

The multidiscipline team at GS Verde Group advised Rawlings at every stage of the transaction, providing legal, financial and tax support for a streamlined and successful corporate transaction.

Accountancy & Accounts, Mergers & Acquisitions, News

ACCA and IMAA sign co-operation deal to elevate corporate finance expertise

Strategic co-operation agreement to further mergers and acquisitions expertise 

Two leading global organisations, the Association of Chartered Certified Accountants (ACCA) and the Institute for Mergers, Acquisitions, and Alliances (IMAA), have forged a strategic co-operation agreement. 

ACCA, the global body for professional accountants, and IMAA, the leading institute in mergers and acquisitions training and education, aim to deepen the expertise of their members in crucial areas of corporate finance, particularly in mergers and acquisitions. The goal is to equip professionals with the knowledge and skills needed to excel in these increasingly important areas.

Helen Brand, chief executive of ACCA, said: “ACCA is delighted to collaborate with IMAA. Both organisations have a global footprint and share a commitment to excellence in their respective fields. Our members are equipped with world-class accountancy qualifications and frequently find themselves involved in businesses where M&A activities and joint ventures are increasingly significant. This co-operation agreement will enhance the educational opportunities that ACCA members can tap into.”

The first milestone in this partnership will offer ACCA members preferential access to IMAA’s certification programs and courses. This will enable ACCA members to gain specialised skills in M&A, adding value to their existing accounting and financial management expertise.

Christopher Kummer, founder and CEO of IMAA, commented: “We are excited about this strategic collaboration with ACCA, a leading organisation in the global accountancy landscape. Our focus has always been on promoting excellence in M&A education and research. Through this partnership, we look forward to contributing to ACCA’s educational portfolio, while also benefiting from the financial management acumen that ACCA members bring. This is a win-win situation, enhancing the scope and impact of both organisations.”

ACCA members will have the opportunity to access exclusive discounts for all M&A certification programs and the IMAA exclusive valuation training with Prof. Aswath Damodaran, the leading figure in valuation. Furthermore, the alliance will produce thought leadership content to provide fresh perspectives on the evolving landscape of corporate finance and M&A.

For more information, visit ACCA’s website and IMAA’s website.

Energy, Mergers & Acquisitions, News

Octopus Energy agrees purchase of Shell Energy UK and Germany

  • Subject to regulatory approvals, deal expected to complete in the fourth quarter of 2023
  • Move will take Octopus Energy’s retail supply arm to 6.5 million customers
  • Octopus Energy has the highest approval rating of any energy supplier in the UK, according to a recent analysis by Bain & Company

Octopus Energy Group today announces it has signed a deal with Impello Limited (“Shell”), a subsidiary of Shell Petroleum Company Limited, to buy Shell Energy in the UK and Germany, taking on two million new home energy and broadband customers.

This deal grows challenger energy supplier Octopus to nearly 6.5 million household customers in the UK (over 11 million meter points). Its customer base in Germany will grow to almost 300,000.

The move comes after a competitive process run by Shell and includes 1.4 million household energy customers (2.5 million meter points) and 500,000 broadband customers.

Shell Energy Retail customers should sit tight for now – the deal is expected to complete in the fourth quarter of 2023 following regulatory approval, and they will be contacted at that time.

Octopus has a strong track record in large-scale customer migrations through its proprietary tech platform Kraken. The company recently completed the transfer of 1.5 million Bulb customers in just six months – an industry record – all while maintaining its award-winning customer service levels and its Which? Recommended Energy Supplier status for the 6th year running. The company also recently topped Citizens’ Advice’s star ratings.

There will be a smooth transition and no disruption to customer energy supply, all Shell energy and broadband customers will be contacted about the next steps following regulatory approval. Customer credit balances are protected, and will automatically get transferred to their new account with Octopus together with their existing direct debits.

Octopus is headquartered in the UK and operates in 15 countries, with significant businesses in energy retail, generation, technology and electric vehicles. It has received well over $1bn in investment from global giants, including investment funds, pension funds and large energy companies.

 

Greg Jackson, CEO and founder of Octopus Energy Group, comments: “Following a stringent process, we are pleased to be acquiring Shell Energy Retail in the UK and Germany. Octopus has proven that it delivers game-changing service whilst innovating and investing relentlessly towards a cheaper cleaner energy system. Our commitment to customers is paramount and we will do whatever it takes to deliver the Octopus promise when we welcome these new customers too.”

 

As part of the agreement, Shell and Octopus Energy have also signed a memorandum of understanding to explore a potential international partnership. The companies are planning to bring the best possible experience to their EV charging customers, including for Shell Recharge and Octopus Electroverse subscribers. Options will be explored for possible joint promotions, brand activations and other activities across the EV value chain.

 

According to a recent analysis by management consultancy Bain & Company, Octopus Energy has the highest approval rating of any energy company in the UK*. The company also tops TrustPilot ratings for energy suppliers and has won multiple awards – among others, it’s been named among Sunday Times’ ‘Best Places to Work’, Utility Week’s ‘Utility of the Year’ and was recently awarded one of TIME Magazine’s ‘100 Most Influential Companies’.

 

Octopus has put together this information page for Shell customers to find the latest news on their transition, the page will be updated regularly: octopus.energy/shell

 

AI, Finance and Banking, Mergers & Acquisitions, News, Software News

Sidetrade acquires US-based CreditPoint Software to disrupt B2B credit risk market

  • Acquisition catalyzes disruptive real time B2B credit risk management solutions
  • Enhances Sidetrade’s offer with the most advanced solution and responds to booming B2B e-commerce market
  • Sidetrade strengthens position in North America Accretive acquisition

 

Sidetrade (Euronext Growth: ALBFR.PA), the global leader in AI-powered Order-to-Cash solutions, has announced that it has finalized an agreement to acquire the entire business of CreditPoint Software, a leading provider of real time B2B credit risk management solutions.

Two years on from the Amalto takeover, Sidetrade gains a stronger foothold in North America with the acquisition of CreditPoint Software activities.

 

Olivier Novasque, CEO of Sidetrade, said: “By acquiring CreditPoint Software, Sidetrade has undoubtedly enhanced its solution for B2B credit risk management and we are in pole position to take advantage of the boom in B2B e-commerce. After placing artificial intelligence at the core of our Collection, Disputes and CashApps solutions, we are now shaping the future of B2B credit risk management together with CreditPoint Software’s teams as we build on the analysis from our Data Lake of over $4.6 billion worth of B2B transactions. Our technological advantage in AI over our competitors will only continue to assert itself and become even more evident. Working in tandem, the talents and technologies of both groups will enable Sidetrade to cement its global leadership position in Order-to-Cash.”

Introducing CreditPoint Software and its state-of-the-art platform for instant credit risk management

Founded in 2006 in the city of Tulsa, Oklahoma, CreditPoint Software is an American software company specializing in comprehensive B2B credit risk management solutions.

Following a decade of substantial R&D investment, CreditPoint Software has developed one of the world-leading cloud-based platforms that leverages real time connection and monitoring for over 20 credit rating agencies worldwide including Dun & BradstreetTM, CreditsafeTM, ExperianTM, EquifaxTM, TransUnionTM as well as S&P and MoodysTM. By standardizing external data from multiple sources within a single repository, CreditPoint Software makes it possible for companies to combine this information with their internal financial and customer data on credit risk exposure. This enables Credit Management teams to automate and streamline decision-making, thanks to the platform’s unlimited configuration options, resulting in the ability to auto decide up to 100% of initial, increase and renewal decisions. The CreditPoint suite of products also includes highly configurable personalized credit application templates.

Supported by customizable business rules and data points, the decision engine within CreditPoint Software secures compliance with internal credit delegations based on delegation of authority. CreditPoint Software also schedules regular reviews of current credit limits for existing clientele, while providing the option for sales teams and organizations to be made aware of credit availability so they may potentially generate additional sales. The end result: selling more to the best customers and pricing risk into the customers that may not be as healthy financially as others.

What’s more, CreditPoint Software’s “Onboarding Credit Application” facilitates the initial process for customers to apply for a credit line, irrespective of whether the B2B purchasing experience is delivered offline or online. In an increasingly digitalized landscape, where digital transformation is key, providing real-time credit approval during the onboarding process of new customers becomes an essential competitive advantage for all businesses.

To date, CreditPoint Software has an active portfolio of around 30 customers in North America and serves multinationals such as Nutrien, BP, Edelman and Caterpillar.

In the fiscal year 2023, CreditPoint Software expects to break even, with revenue topping the $2 million mark.

 

John C. Powers, CEO of CreditPoint Software, commented: “This deal with Sidetrade is a major step forward in our commitment to providing leading-edge solutions for B2B credit risk management. In today’s uncertain economic environment, companies seek efficient solutions that anticipate risks and automate decisions to secure and increase their revenue streams. By leveraging Sidetrade’s Data Lake with its predictive payment intelligence map of 21 million companies worldwide, we will deploy artificial intelligence in all our decisioning to provide companies with the risk management solution of the future. Propelled by Sidetrade’s sales force and implementation resources, we will further expand this new offering throughout the United States and bring it to the European market for the first time.”

 

Contextualizing CreditPoint Software, the solution designed for the B2B e-commerce boom

While McKinsey & Company estimated that the majority of B2B corporations had next to no e-commerce capabilities at the start of the pandemic, the past two years have seen a rapid trend reversal. In its 2021 B2B Pulse Report, the US consulting firm found that 65% of B2B companies across all sectors offer e-commerce capabilities.

A DHL study also reported that by 2025, 80% of all B2B sales interactions between suppliers and professional buyers will take place digitally, representing a giant and unprecedented leap forward. And in its 2022 report, Statista expects total B2B e-commerce purchases to exceed $4.6 trillion in 2025. Clearly, e-commerce is no longer just a trendy new channel for B2B companies to discover, but instead an essential effective and strategic sales tool.

Compared to B2C e-commerce, B2B e-commerce places more importance on credit and payment terms. A series of checks must be performed in real time to validate an order. However, managing such procedures instantly requires a step-by-step process. The latter involves identifying the company, integrating external financial data, decision-making and delegating approval based on the total order amount.

Nevertheless, across the globe, very few companies can implement a solution to overcome the limitations of B2B e-commerce and offer a customer experience to match the B2C shopping experience.

“The boom in e-commerce has revolutionized sales and consumption patterns. In B2B, the growth of e-commerce requires companies to find the right solution for the right emerging expectation. You need to determine an acceptable payment delay to minimize risk and instantly maximize sales.” commented Olivier Novasque, CEO of Sidetrade. “For B2B companies that want to continue leading the way in their sectors, e-commerce is no longer just a nice to have, but an essential requirement. We will support them by utilizing our teams and the technology of CreditPoint Software. No matter the sector, it is a pressing need.”

 

Focusing on the accretive acquisition of CreditPoint Software asset

This acquisition will be made in cash for an estimated €3 million and paid in part on the signing of the agreement with the rest scheduled for end-2023, which is subject to certain customer renewals. The amount includes an earn out based on the sales achieved by Sidetrade for CreditPoint Software’s solution over the next three years.

Sidetrade is financing the transaction through its cash position, which totaled €36 million (€12 million in treasury shares) as of June 30, 2023.

The transaction is part of the Group’s Fusion 100 strategic plan which targets Annual Recurring Revenue (“ARR”) of $100 million by end-2025. Not only is it a catalyst for Sidetrade’s product strategy, but also its target revenue for North America of close to $14 million in 2023 which will bolster the Group’s presence in the United States.

 

About Sidetrade (www.sidetrade.com)

Sidetrade (Euronext Growth: ALBFR.PA) provides a SaaS platform dedicated to securing and accelerating cash flow. Sidetrade’s next-generation AI, nicknamed Aimie, analyzes $4.6 trillion worth of B2B payment transactions daily in the Sidetrade Cloud to predict customer payment behavior and the attrition risk of more than 21 million companies worldwide. Aimie recommends the best cash collection strategies, intelligently automates actions on the Order-to-Cash process, and dematerializes customer transactions to enhance productivity, performance and working capital management.

Sidetrade has a global reach, with 300 talented employees based in Paris, London, Birmingham, Dublin, Houston, and Calgary, serving global businesses in more than 85 countries. Amongst them: Tech Data, KPMG, Nespresso, Hearst, Expedia, Criteo, Manpower, Securitas, Randstad, Engie, Veolia, Inmarsat, and Bidfood.

Sidetrade is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business.

For further information, visit us at www.sidetrade.com and follow us on Twitter @Sidetrade.

 

About CreditPoint Software (www.creditpointsoftware.com)

CreditPoint Software was founded in 2006, by a former credit professional, who realized there was a better way to help companies manage their credit and collections processes. From small and medium-sized companies, all the way up to Fortune 50, CreditPoint Software serves a myriad of business types and sizes. With 20+ years of experience, CreditPoint Software works with B2B companies to minimize risk and reduce DSO by streamlining the credit risk management process from decisioning to monitoring and collections.

CreditPoint Software has helped businesses across industries increase workflow efficiency, gain transparency, and ultimately save millions in bad debt reduction and productivity increases

 

Acquisitions & Partnerships, Mergers, Mergers & Acquisitions, News, Tech

WSO2 Expands Global Distribution of API Management Solution Through Partnership with Global IT Solutions Aggregator TD SYNNEX 

The partnership brings joint cloud-based offerings for API management, integration, and customer identity and access management to help more companies innovate faster 

WSO2, the leader in digital transformation technology, announced a new partnership with leading global IT distributor and solutions aggregator TD SYNNEX. This partnership brings WSO2’s industry-leading software for API management, integration, and customer identity and access management (CIAM) to TD SYNNEX’s expansive global IT ecosystem.

In a survey of 500 IT decision-makers, the vast majority agree on three factors that are key to driving better digital experiences, as well as gaining and maintaining a competitive advantage: improved security (90%), cloud adoption (89%), and API integration (82%). Yet too often, getting these technologies to work together seamlessly increases the costs and time needed to bring new digital services and applications to market.

Through their partnership, WSO2 and TD SYNNEX will help mutual customers significantly lower the barriers to delivering new digital services and software-as-a-service (SaaS) offerings that create seamless experiences. WSO2 uniquely brings together industry-leading cloud-native technologies for API management, integration and customer identity and access management, including robust business-to-business and business-to-consumer CIAM.

“With today’s economic uncertainty and shrinking budgets, enterprises and SaaS companies are challenged to innovate faster without expanding their development teams. We’re proud to partner with TD SYNNEX to help more customers than ever to address this need and drive accelerated growth through our joint cloud-based solution,” said Moses Mathuram, vice president, of GSI alliances and strategic partnerships at WSO2. “As we continue to strengthen our partner ecosystem, we look forward to expanding the number of companies of all sizes that can take advantage of our industry-leading, open-source solutions for API management, integration and CIAM to speed time to market cost-effectively.”

Benefits of this partnership include:

  • New business offering that enables seamless API management monetisation, with every front- and back-end transaction managed in one place
  • Ease of access to WSO2’s market-leading API management, integration, and customer identity and access management solutions
  • Business value in reducing the cost of development with no need for businesses to build out their own elaborate infrastructure or hire technically diverse teams
  • Greater efficiencies from reducing time-to-market delivery and complexity with service and support

 

“TD SYNNEX is committed to uniting IT solutions that deliver business outcomes today and unlock growth for the future,” said Cheryl Neal, vice president of new vendor acquisition and global solutions at TD SYNNEX.“ With WSO2 added to our vast portfolio of vendor partners, we’re able to enrich the breadth and depth of our offerings so customers can do great things with technology.”

To learn more about WSO2’s partner program, please visit wso2.com/partners/.

 

About WSO2

Founded in 2005, WSO2 enables thousands of enterprises, including hundreds of the world’s largest corporations, top universities, and governments, to drive their digital transformation journeys—executing more than 60 trillion transactions and managing over 1 billion identities annually. Using WSO2 for API management, integration, and customer identity and access management (CIAM), these organisations are harnessing the full power of their APIs to securely deliver their digital services and applications. Our open-source, API-first approach to software that runs on-premises and in the cloud helps developers and architects to be more productive and rapidly compose digital products to meet demand while remaining free from vendor lock-in. WSO2 has over 900 employees worldwide with offices in Australia, Brazil, Germany, India, Sri Lanka, the UAE, the UK, and the US. Visit https://wso2.com to learn more.

 

About TD SYNNEX

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the IT ecosystem. We’re an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value of technology investments, demonstrate business outcomes and unlock growth opportunities. Headquartered in Clearwater, Florida, and Fremont, California, TD SYNNEX’s approximately 23,500 co-workers are dedicated to uniting compelling IT products, services and solutions from 1,500+ best-in-class technology vendors. Our edge-to-cloud portfolio is anchored in some of the highest-growth technology segments including cloud, cybersecurity, big data/analytics, IoT, mobility and everything as a service. TD SYNNEX is committed to serving customers and communities, and we believe we can have a positive impact on our people and our planet, intentionally acting as a respected corporate citizen. We aspire to be a diverse and inclusive employer of choice for talent across the IT ecosystem.

For more information, visit www.TDSYNNEX.com

Employee Benefits, Mergers & Acquisitions, News, Pensions

20-20 Trustees and Punter Southall Governance Services merge

Punter Southall Governance Services (PSGS) and 20-20 Trustees (20-20) have today announced they are merging to form Vidett. With a team of 120 and 475 clients, Vidett is now the UK’s largest professional trustee and pension governance firm by number of clients.

In this true merger of equals, the new business will be jointly led by co-Chief Executives, Naomi L’Estrange (formerly Managing Director of 20-20) and Wayne Phelan (formerly Chief Executive Officer of PSGS). They’ll be supported by a senior leadership team drawn from across the predecessor businesses.

Commenting on the merger, Wayne and Naomi said: “We both independently concluded our businesses were complementary and combining them would add significant impetus to accelerate our growth plans. 20-20 and PSGS had different attributes but similar ambition and cultures, based on collaborative teamwork, sharing knowledge to drive progress for our clients and embracing innovation. As both firms have always been committed to delivering the best client service, this will be a key measure of Vidett’s success in the future.

The opportunity to work together excites us and we both believe this merger will be a significant boost for our teams. They’ll be part of a strong, confident business intent on leading the way in professional trusteeship and pension governance. We hope this will make us the employer of choice in what is a very competitive market.

The way we’ve worked so well together over the past months to create Vidett demonstrates how well aligned our teams are, how strong our vision for the business is and how quickly we can integrate.

Importantly, these are clear messages to both our clients and the professional advisers we work with about the seriousness of our offering and commitment to the market and the cohesion of Vidett.”    

Vidett is a privately owned business, independent from any other provider of services to corporate pension and employee benefit schemes. With an unrivalled knowledge bank to support client needs, Vidett currently looks after over 475 clients with total assets in excess of £142bn and over 2.5 million scheme members.

Digital Transformation, Mergers & Acquisitions, News

OSF Digital Acquires UK-Based Multi-Cloud Consulting Firm Oegen

With its sixth acquisition this year, OSF continues to strengthen its Salesforce multi-cloud expertise and offerings globally

OSF Digital, an award-winning provider of digital transformation services to companies worldwide, announced the acquisition of Oegen Ltd., a UK-based Salesforce consulting firm with strong expertise in Salesforce Experience Cloud as well as Marketing Cloud, Sales Cloud, Service Cloud, and B2B Commerce.

OSF Digital is acquiring Oegen to quickly establish a Salesforce Experience Cloud team in the UK region and expand the multi-cloud center of excellence and delivery team in the UK and EMEA.​ OSF’s global team will grow its Salesforce Experience, Sales, and Service Cloud capabilities and deliver comprehensive digital transformation strategies to clients. The terms of the deal are not being disclosed.

The acquisition of Oegen will further establish OSF Digital as a highly regarded global Salesforce multi-cloud solution provider and consulting partner by boosting its Salesforce Experience Cloud practice in EMEA. As a well-established firm in the EMEA region, Oegen has expertise in Salesforce Marketing Cloud Account Engagement, Service, Sales Cloud, and B2B Commerce with a focus on the financial and business services, education, and non-profit sectors. Oegen’s customers include major UK high street banks as well as global education and charitable foundations. Together, OSF and Oegen will serve a growing EMEA customer base with innovative solutions and excellence.

“This acquisition will help to deepen our customer relationships in EMEA in many verticals,” said Gerard (Gerry) Szatvanyi, CEO of OSF Digital.  “We are serious about further strengthening our Salesforce multi-cloud services globally. Oegen’s agility and commitment to excellence align very well with OSF’s values and mission.”

“We’re pleased to join OSF Digital’s growing team,” said Pete Fells, Managing Director & Founder of Oegen Ltd. “Together with OSF, we’ll continue to deliver comprehensive digital transformation and user experience excellence to a vast customer base in several verticals in the UK and EMEA.”

 

OSF Digital, an award-winning digital transformation company with over 1,000 Salesforce certifications, is committed to driving digital transformation for its customers. The firm’s deep industry expertise enables it to identify clients’ unique requirements and launch innovative solutions to specific markets and industry verticals.

OSF Digital has over 2200 employees and 49 offices worldwide. With over 1,000 global clients, OSF Digital has served several businesses with offices in the U.K. including Burt’s Bees, Gatwick Airport, Marks and Spencer, Schuh Limited, Shop TJC Ltd. The Conair Group (Babyliss and Babyliss PRO UK), and many others.

This year, OSF Digital acquired FitForCommerce, Datarati, netnomics, Kolekto, and Aarin Inc.

To learn more about OSF Digital, visit: osf.digital.

 

About OSF Digital

OSF Digital is a global commerce and digital transformation leader with expertise in connecting technology and strategy to drive business goals. With expert status in B2C and B2B commerce and several Salesforce awards for multi-cloud innovation, OSF Digital seamlessly guides enterprises through their entire digital transformation journey. With customers in various industries around the globe, OSF Digital provides personal attention and the highest level of connection with a local presence throughout North America, Latin America, APAC, and EMEA. For more information about OSF Digital, visit: osf.digital.