Fintech PR

EQT Private Equity to invest in software companies HVD Group and Next

Published

12 months ago

December 20, 2023

HVD Group and Next provide cloud-based software to tradespeople and construction firms in the Nordics, targeting a range of professions including electricians, plumbers and contractors
The tradespeople and construction industry is one of the largest globally while being one of the least digitized. The modern software solutions offered by HVD Group and Next enable customers to embark on a digitalization journey that improves their efficiency and sustainability
EQT Private Equity will invest in HVD Group and Next together with the existing HVD Group shareholder Adelis, which will increase its investment

STOCKHOLM, Dec. 20, 2023 /PRNewswire/ — EQT is pleased to announce that the EQT X fund (or “EQT Private Equity”) has agreed to invest in the Nordic software companies HVD Group (Hantverksdata) and Next (Next One Technology). Both companies serve the tradespeople and construction industry, with HVD Group focused on installation and service professions – such as electricians, plumbers, heating and ventilation firms – while Next is focused on contractors. HVD Group’s platform complements that of Next, and the investment therefore paves the way for a further strengthened product offering, which builds on both companies’ strong customer satisfaction scores.

The tradespeople and construction industry is one of the largest globally and yet is still early on its digital transformation journey, which has resulted in low productivity growth over recent decades. HVD Group and Next support the tradespeople and construction workforce to transition from using analogue or complex solutions to instead using their end-to-end software platforms.

HVD Group was founded in Sweden and has over 10,000 customers across the Nordics and Germany. The Company offers cloud-based end-to-end field service management and enterprise resource planning software with key functionalities such as order, project and asset management, scheduling, time reporting, procurement and documentation handling. This enables users to spend less time on administration, while reducing waste and minimizing risk of errors both in the field and the back office.

Next, also founded in Sweden, offers a cloud-based software solution to construction firms and has a strong complementary fit with HVD Group. With approximately 2,500 customers primarily in the Nordics, Next supports contractors, builders and service firms with project management software. Key functionalities include order and resource management, project financials, document handling, checklists and quality control, all of which enable efficient planning, execution and collaboration.

Ali Farahani, Partner within EQT Private Equity’s Advisory Team, said: “Investing in HVD Group and Next creates a strong Northern European platform with leading tech and product capabilities. We have followed the space for several years and are excited to back what is in our mind the most attractive platforms in one of the largest verticals globally. We are extremely impressed by the respective teams led by Mikael and Johan, and we look forward to bringing EQT Private Equity’s software experience to support the organizations through the next phase of continued high growth.”

HVD Group Chairperson Anders Böös and Adelis Partner Joel Russ added: “As long-term investors in HVD Group, we’ve seen the company go from strength-to-strength and it’s clear they have no intention of slowing down. We also know that the tradespeople software sector is robust and attractive given the size and growth, supported by many companies yet having to embrace the benefits from digitalization. That’s why we’re delighted to be moving forward on the journey together with EQT, HVD Group and Next.”

HVD Group CEO Mikael Viotti said: “We’ve made significant investments in our modern product and technology over the recent years, which has been well-received by our customers, and the opportunity to join forces with Next will only strengthen what we can offer to our customers. We look forward to partnering with EQT Private Equity and Next, while continuing to work with Adelis.”

Johan Jarskog, CEO of Next, also commented: “Next and HVD Group have an exciting and complementary fit. Not only from a product perspective, but also in terms of the culture and people, having followed Mikael and his team over the recent years. We are also confident that a combined offering will continue to drive our already high customer satisfaction, as we together with HVD Group will be able to offer an even more comprehensive product to our end users.”

Both transactions are expected to close in February 2024. EQT was advised by Vinge and Adelis was advised by White & Case. Next previous owner Monterro was advised by Houlihan Lokey.

With these transactions, EQT X is expected to be 30 – 35 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size.

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT X will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

Contact
EQT Press Office, [email protected] , +46 8 506 55 334

The following files are available for download:

https://mb.cision.com/Main/87/3896735/2506446.pdf	PR_ EQT PE invests in HVD Group and Next_241220
https://news.cision.com/eqt/i/eqt-hvd—next,c3250812	EQT_HVD & Next

View original content:https://www.prnewswire.co.uk/news-releases/eqt-private-equity-to-invest-in-software-companies-hvd-group-and-next-302019922.html

Fintech

Banking and Capital Markets: Navigating a Complex Future

Published

3 hours ago

November 29, 2024

Zoltan Tundik

banking-and-capital-markets:-navigating-a-complex-future

Curated in collaboration with the London School of Economics and Political Science (LSE)

The global financial industry stands at a pivotal juncture, facing a rapidly evolving landscape shaped by technological disruption, sustainability mandates, and geopolitical uncertainties. The end of prolonged accommodative monetary policies has ushered in an era of increased scrutiny, regulatory tightening, and heightened demand for innovation. At the same time, financial technology (fintech) continues to transform the sector, driving new opportunities and challenges for traditional banking systems.

This article delves into the strategic issues currently defining Banking and Capital Markets. Drawing from expert insights curated by Lutfey Siddiqi, Visiting Professor-in-Practice at LSE, it examines the dynamic risk environment, emerging technology trends, shifts in banking business models, and the growing focus on sustainability and talent development.

Key Issues Influencing Banking and Capital Markets

The Financial Risk Landscape: Heightened geopolitical tensions and regulatory demands are reshaping the industry.
Financial Technology: Emerging technologies such as artificial intelligence (AI) and blockchain offer potential but also pose significant implementation challenges.
Banking Business Models: Institutions are adopting diverse strategies to navigate competition and shifting market demands.
Financial Talent: Attracting the next generation of banking professionals requires a clear purpose and forward-thinking policies.
Sustainability and Finance: Balancing environmental and social goals with immediate business priorities is a growing challenge.

1. Latest Insights: Shifting the Banking Paradigm

Experts highlight the profound challenges and opportunities facing financial institutions today. From geopolitical volatility to advances in fintech, the banking landscape demands unprecedented agility. Recent developments include:

Monetary Policy Adjustments: China’s central bank explores easing policies to boost investment.
Regulatory Scrutiny: Global banking rules, such as Basel 3.1 reforms, are under review, signaling potential shifts in global supervision.
Financial Inclusion: Updates from the Financial Action Task Force (FATF) aim to balance anti-money laundering standards with broader access to financial services.

These trends emphasize the need for financial institutions to anticipate disruptions while fostering resilience and innovation.

2. Strategic Context: Transforming Banking in a High-Stakes Era

2.1 The Financial Risk Landscape

Banks are grappling with an increasingly volatile environment characterized by geopolitical tensions, regulatory reforms, and market disruptions. The end of ultra-loose monetary policies has highlighted weaknesses in traditional funding models, exemplified by the high-profile collapses of Silicon Valley Bank and Credit Suisse in 2023.

Regulators are tightening oversight, expanding their focus to include non-bank institutions and fintech companies. Additionally, rising geopolitical tensions demand localized data operations, robust cybersecurity measures, and new approaches to global strategy.

Key takeaway: In an age of uncertainty, resilience and stability are essential.

2.2 Financial Technology

The Fourth Industrial Revolution continues to reshape banking through advancements like AI, blockchain, and quantum computing. However, challenges remain, such as limited real-world blockchain applications and increasing cybersecurity risks tied to digitalization.

Financial institutions must adopt technology thoughtfully, focusing on solutions that address specific operational pain points and align with organizational goals. Balancing efficiency with contingency planning for outages and cyber threats is paramount.

Key takeaway: Tech adoption must prioritize practicality, security, and alignment with purpose.

2.3 Banking Business Models

Global trends are driving a diversification of banking models. Some institutions are scaling back operations in unprofitable markets, while others are leveraging acquisitions or digital innovation to expand. The rise of big tech competitors—armed with vast behavioral data—adds a new layer of complexity to the competitive landscape.

Emerging trends include:

Consolidation of corporate and private banking services.
Strategic retreats from costly markets, such as HSBC’s exit from US retail banking.
Big tech firms offering financial services as data-driven loss leaders.

Key takeaway: Differentiation and adaptability are critical in a fragmented, competitive market.

2.4 Financial Talent

The banking sector faces a mounting talent crisis, particularly among younger generations who view the industry as outdated or misaligned with their values. To attract top talent, banks must redefine their purpose and emphasize their commitment to sustainability, innovation, and career growth opportunities.

Surveys indicate that young professionals seek workplaces offering training, flexibility, and inclusive leadership. Reskilling initiatives and a focus on digital expertise will also be key to preparing employees for the future.

Key takeaway: A compelling vision for the future of banking is essential to attract and retain top talent.

2.5 Sustainability and Finance

Sustainability has become a focal point for the financial industry, driven by growing demand for ESG (Environmental, Social, and Governance) initiatives. However, backlash against greenwashing and tokenism has led banks to reevaluate their approaches.

Balancing short-term priorities like energy security with long-term goals like combating climate change requires bold leadership. Opportunities abound in areas such as carbon trading, green bonds, and sustainability-linked investment products. However, success demands authenticity and a commitment to systemic change.

Key takeaway: Embedding sustainability into core operations is vital for long-term success.

Transformation Maps: A Strategic Tool for Leaders

This analysis leverages the World Economic Forum’s Strategic Intelligence Transformation Maps, which provide an interconnected view of global trends and challenges. These tools enable leaders to explore key topics, such as cybersecurity, fintech, and sustainability, and understand how they shape the future of Banking and Capital Markets.

Conclusion

The financial industry’s journey through this transformative era requires agility, innovation, and a deep commitment to purpose. From adapting to geopolitical tensions to embracing sustainability and nurturing top talent, financial institutions must strike a delicate balance between tradition and progress.

By leveraging technology, redefining business models, and embedding ESG principles into their strategies, the sector can navigate today’s challenges and build a resilient, forward-thinking future.

For more insights and resources, visit the World Economic Forum’s Strategic Intelligence platform.

The post Banking and Capital Markets: Navigating a Complex Future appeared first on News, Events, Advertising Options.

Fintech PR

Xinhua Silk Road: Micro-documentaries depicting people-centered governance initiatives released

Published

3 hours ago

November 29, 2024

CISION (PR Newswire)

BEIJING, Nov. 29, 2024 /PRNewswire/ — A series of micro-documentaries titled “the People’s City in Jing’an” has been released, showcasing real stories about the district’s initiatives in urban construction, governance, and development in Shanghai.

The series also highlights vivid practices of Jing’an in implementing the concept of a people-centered city.

Original link: https://en.imsilkroad.com/p/343370.html

Video – https://mma.prnewswire.com/media/2569899/video.mp4

View original content:https://www.prnewswire.co.uk/news-releases/xinhua-silk-road-micro-documentaries-depicting-people-centered-governance-initiatives-released-302318776.html

Fintech PR

VANTAGE FOUNDATION PARTNERS WITH FRESH START TO SUPPORT EDINBURGH COMMUNITIES

Published

3 hours ago

November 29, 2024

CISION (PR Newswire)

vantage-foundation-partners-with-fresh-start-to-support-edinburgh-communities

EDINBURGH, Scotland, Nov. 29, 2024 /PRNewswire/ — Vantage Foundation has partnered with Fresh Start, an Edinburgh-based charity helping people who have been homeless establish themselves in their new home through the provision of goods and services. They work to end the cycle of homelessness and for a better life for those living in poverty.

Fresh Start was established in 1999 from a desire to help and support their community where issues such as homelessness, deprivation and poverty were prevalent. Taking a person-centered approach, the organisation began to distribute Starter Packs, which are packs of essential household items to help people establish themselves in their new home.

They are now distributing over 14,000 packs per year and helping over 2,000 people. They have also expanded to offer more services over the years in response to the needs of the people in their communities, such as providing kitchen appliances, cooking classes and painting and decorating services.

Vantage Foundation visited Fresh Start in November to pledge support for their cause by sponsoring Starter Packs. “We are pleased to support Fresh Start in their mission to help people make a home for themselves,” said Steven Xie, Executive Director of Vantage Foundation. “Their mission firmly resonates with us and this partnership is a reflection of our own commitment to address invisible challenges to social immobility.”

“We want to give people an opportunity to make themselves feel at home,” explained Jen McQuistan, Corporate Partnership Officer at Fresh Start. “It is important for them to have a space to call their own and develop a true sense of belonging in the community.”

For more information on Fresh Start and how you can get involved, visit their website at https://www.freshstartweb.org.uk/

About Vantage Foundation

Vantage Foundation is an independent charitable organisation launched at the McLaren Technology Centre in the UK in 2023. The foundation has worked with charity organisations around the world, including The iREDE Foundation in Nigeria, Teach For Malaysia in Malaysia, and Instituto Claret in Brazil.