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Riverside Further Strengthens Dastex’s Footprint in the Nordics with the Add-on Acquisition of AET

Published

2 weeks ago

April 30, 2024

Global Investor Wraps Up Norwegian Add-on Acquisition for Cleanroom Contamination Control Expert Dastex

CLEVELAND, April 30, 2024 /PRNewswire/ — The Riverside Company, a global private investor focused on the smaller end of the middle market, has closed the acquisition of Arbeidsmiljø og Energiteknikk AS (AET), a Norwegian distributor of third-party consumables and laboratory / cleaning equipment, from RA Service AS and management. The investment is an add-on to Riverside’s portfolio company Dastex Reinraumzubehör GmbH & Co. KG (Dastex), a specialized cleanroom garment and consumables distributor in Europe.

Founded more than 30 years ago, AET is a leading independent player in Norway, differentiated by its strong technical know-how and industry expertise. Next to the distribution of third party-brands, the company also provides tailored disinfection services and training courses focused on the operations and maintenance of cleanrooms and other clean environments. AET, based in Kongsberg, Norway, has a strong presence in various industries including pharmaceutical, semiconductor, and healthcare sectors.

Damien Gaudin, Partner at Riverside Europe who led the deal, commented: “The addition of AET is another milestone in our pan-European buy-and-build strategy for Dastex. There is a strong strategic fit with Dastex as AET’s consumables distribution offering aligns perfectly with the core focus of the group, while the disinfection services form a complementary addition to the existing verification and validation services business. The acquisition of AET expands the group’s geographical footprint by establishing a direct presence in Norway, strengthening Dastex’ competitive position in the Nordics.”

Following the transaction, the focus will be on increasing commercial and marketing efforts across Norway and further enhancing the group’s presence in the Nordics, stimulating commercial synergies and capitalizing on cross-selling opportunities. The current CEO of AET, Barbro Reiersøl, will continue to lead the Norwegian operations, ensuring a smooth transition and sustained leadership under the Dastex group umbrella.

Reiersøl commented: “It is with great enthusiasm that we join forces with Dastex, whose reputation for excellence and deep industry expertise is highly regarded. This strategic alliance represents a significant leap forward for AET, as it allows us to further enrich our offerings and expand our reach within the cleanroom and broader healthcare space. The entire AET team is committed to excellence, ensuring that we continue to deliver the high-quality products, excellent service and rapid delivery that our customers have come to expect. We extend our heartfelt gratitude to our dedicated team, loyal customers and trusted suppliers. Together, we are poised for a thrilling new chapter in our journey.”

Linda Vereycken, CEO of Dastex, commented: “Together, with the management team, I am very excited to welcome AET to the group. Their exceptional technical expertise and proven track record of sustaining enduring partnerships with customers and suppliers aligns seamlessly with the core strengths of Dastex and Vita Verita. We are confident that the addition of AET will mark a pivotal moment in our journey, enhancing our geographical reach and service offerings, and serve as another steppingstone in achieving our ambitious objectives. This strategic expansion is a testament to our vision ‘to be the leading experts in cleanroom contamination control,’ and our unwavering commitment to quality in this domain.”

Rune Arnhoff, owner of RA Service AS, commented: “I am convinced that Dastex is the ideal partner to continue the legacy of AET. The priority of AET has always been the satisfaction of AET’s customers, employees and suppliers, and the alignment of values and operational excellence demonstrated by Dastex assures that these relationships will be in capable hands.”

Riverside acquired Dastex and its first add-on Vita Verita mid-2023 to establish a leading platform in cleanroom contamination control, well-positioned to grow organically and via acquisitions. Dastex serves the resilient and growing cleanroom industry, helping customers in pharmaceuticals, life sciences, semiconductor and other high-tech industries to meet ever stricter quality and regulatory standards.

Working with Gaudin on the deal for Riverside were Vice President Maxime Meulemeester and Senior Associate Sebastiaan Pauwels.

About The Riverside Company
The Riverside Company is a global investment firm focused on being one of the leading private capital and credit options for investors, business owners and employees at the smaller end of the middle market by seeking to fuel transformative growth and create lasting value. Since its founding in 1988, Riverside has made more than 1,000 investments. The firm’s international private equity and flexible capital portfolios include more than 140 companies. Riverside Europe is an integral part of the firm’s broad global network and has invested in Europe since 1989. Riverside believes a truly global presence provides exceptional insight into local conditions, culture and business practices, making team members better investors and business partners.

View original content:https://www.prnewswire.co.uk/news-releases/riverside-further-strengthens-dastexs-footprint-in-the-nordics-with-the-add-on-acquisition-of-aet-302130533.html

Latest News

dLocal Expands Partnership with Deel to 12 New Countries

Published

26 mins ago

May 17, 2024

Peter Tolan

dLocal, a prominent player in the cross-border payment sector with a focus on burgeoning markets, has unveiled an expansion of its collaboration with Deel, a leading HR and payroll platform, spanning 12 additional countries across Asia and the EMEA region. dLocal and Deel Extend Partnership to 12 Countries amidst Remote Work Surge

This expansion comes on the heels of a highly successful initial rollout across 19 countries in 2022, which witnessed a substantial surge in payment volumes and an impressive payment delivery rate of 99.97%.

Dan Westgarth, COO of Deel, remarked, “dLocal’s expertise in payments has been instrumental in our journey, and this significant expansion into high-growth markets is a testament to the quality of their services. We’ve been able to scale rapidly, on our terms, thanks to dLocal’s support.”

Under this enhanced partnership, dLocal will extend its services to Indonesia, Malaysia, Thailand, Vietnam, Ghana, Jordan, Kenya, Morocco, Saudi Arabia, South Africa, Turkey, and the United Arab Emirates. Additionally, dLocal will offer payout services in Brazil through PIX, a widely adopted instant payment method in Latin America.

Agustin Botta, Head of EMEA at dLocal, emphasized, “Our goal is to foster growth and opportunities for brands and individuals, and the collaboration with Deel perfectly aligns with this objective.”

Forging New Alliances

In addition to deepening its partnership with Deel, dLocal has recently forged alliances with other industry players. The company has partnered with Papaya Global, a leading payroll platform, to facilitate timely payments to employees, partners, freelancers, and suppliers in local currencies across the globe. By integrating dLocal’s payment capabilities into Papaya’s platform, the payment process is streamlined for their shared clients.

Furthermore, dLocal has joined forces with Ebury to bolster cross-border payments in Africa. Leveraging dLocal’s payment solution, Ebury can efficiently manage both incoming and outgoing payments while optimizing costs and delivery times. Additionally, dLocal provides extensive support to Ebury’s merchants navigating the complexities of emerging markets. As Ebury expands its footprint in these regions, the partnership with dLocal provides access to over 41 different markets through a single integration.

dLocal, a publicly traded company on NASDAQ, has successfully completed four funding rounds to date. In its latest and most substantial round in 2021, the company raised $150 million, achieving a valuation of $5 billion.

Source: financemagnates.com

The post dLocal Expands Partnership with Deel to 12 New Countries appeared first on HIPTHER Alerts.

Latest News

Climate fintech startup Ekko raises £2m

Published

2 hours ago

May 16, 2024

Peter Tolan

A climate-focused fintech startup that promotes environmental conservation through its debit card usage has secured $2.5 million (£2 million) in funding.

Founded in 2019, Ekko intends to utilize the funding to recruit top-tier industry professionals who can contribute to product development and global expansion initiatives.

Fuel Ventures led the funding round, with additional investments from Sorven Partners, Mishcon de Reya, and existing backers. This follows Ekko’s previous pre-seed funding of £450,000 in 2021.

Co-founded by Oli Cook, Manish Vara, Simon Toller, and Tom Greenwood, Ekko has developed a unique debit card that monitors the carbon footprint associated with purchases.

Through partnerships with renowned organizations like Gold Standard, Conservation International, Tusk, and Prevented Ocean Plastic, Ekko plants trees and collects ocean-bound plastic with every consumer transaction. These conservation efforts are funded through a subscription fee ranging from £1.99 to £9.99 per month.

Moreover, Ekko has developed business-to-business (B2B) software to integrate into banking or checkout applications, enabling third parties to access its climate services.

Oli Cook emphasized Ekko’s scalability, anticipating the broader impact of the funding on product development and partnerships. He underscored the urgency of addressing climate change and Ekko’s mission to disrupt the market by empowering financial institutions to facilitate tangible environmental impact for their customers.

Ekko joins the ranks of other green fintech companies like Tandem and Tred, all committed to providing sustainable financial services.

Source: uktech.news

The post Climate fintech startup Ekko raises £2m appeared first on HIPTHER Alerts.

Latest News

55@Shanghai: International Friendly Guidebook was unveiled worldwide for the first time!

Published

3 hours ago

May 16, 2024

CISION (PR Newswire)

SHANGHAI, May 16, 2024 /PRNewswire/ — To accelerate the development of Shanghai as an international consumption hub, attract more foreign consumers, and expand the market while providing a more diverse and enriching consumer experience, the 55@Shanghai Destination of Shopping global promotion launch ceremony was grandly held on the morning of May 8th, 2024, at the Changning Shanghai Film Art Center.

At the launch ceremony, the 55@Shanghai Destination of Shopping International Friendly Guidebook was unveiled worldwide for the first time. This handbook meticulously outlines Shanghai’s convenient payment methods, diverse experiential venues, city walk routes, and popular exhibition events, among other urban highlights.

Photo – https://mma.prnewswire.com/media/2415398/55_Shanghai_1.jpg

It includes over 1000 featured popular shops, 100+ business and leisure experience destinations, and more than 10 international-friendly shopping centers. Covering the finest ‘eat, stay, travel, entertain, and shop’ local recommendations in Shanghai, the handbook aims to facilitate international connectivity for Shanghai’s business, tourism, and cultural brands.

In the 55@Shanghai International Friendly Guidebook, strategic partners including Bank of China, China UnionPay, China Eastern Airlines, Airport Group, and Ctrip jointly announced activities related to 55@Shanghai Destination of Shopping. Bank of China Shanghai Branch will launch the ‘Blooming Love Shopping Shanghai’ themed event, collaborating with thousands of merchants to offer payment discounts, consumer gifts, credit card points redemption, and other series of promotions.

Additionally, they will introduce a profit-sharing activity called ‘National Trend Pavilion’ on their mobile banking platform. China UnionPay will roll out the ‘Splendid China 5.5 Shopping’ promotion with an investment of 100 million RMB, focusing on eight major scenes including dining, accommodation, transportation, travel, shopping, entertainment, medical, and education. For the 2.3 billion UnionPay cards issued overseas, they will also provide a 200 million RMB rebate on transaction fees.

China Eastern Airlines will introduce convenient measures and attractive products, offering over 550,000 tickets to boost traffic and provide travelers with convenient travel solutions. The Airport Group will set up one-stop service areas at the arrival passenger routes, luggage collection areas, and public areas, enhancing the level of convenience services for inbound travelers and launching various activities and benefits to comprehensively promote the quality and efficiency of consumption in Shanghai. Ctrip Group has planned the ‘Shanghai Express’ exclusive half-day free tour for inbound tourists.

To better convey the charm of 55@Shanghai Destination of Shopping to the world, the 55@Shanghai International Friendly Guidebook has brought together several outstanding companies to become global promotion partners. At the launch ceremony, 15 companies including Bailian Group, Shanghai Metro, Foreign Investment Association, Shanghai Design Week, Tencent Group, and Meituan were honored with the inaugural 55@Shanghai Destination of Shopping Global Promotion Partner title. These global promotion partners will further enhance domestic and international publicity efforts to attract tourists from around the world to experience the 55@Shanghai Destination of Shopping series of activities, jointly contributing to the creation of a friendly and convenient consumer environment.

55@Shanghai Destination of Shopping is the core project of this year’s Shanghai 55 Shopping Festival. Leveraging Shanghai’s position as a global hub for tourism, culture, and sports, it actively expands domestic and international visitor flows. With the theme of ‘Come, Explore, Shop’, the event offers a variety of combined services to help build an internationally friendly consumer environment.

It gathers the distinctive highlights of Shanghai’s business, tourism, and cultural sectors, attracting domestic and international tourists to experience new consumption landmarks, scenes, and formats in Shanghai through precise domestic and international promotion.

Through methods such as the multilingual 55@Shanghai Destination of Shopping international-friendly guidebook, promotion on landmark screens in major cities worldwide, and collaboration with businesses to launch supporting activities, the event has created a key activity matrix for 55@Shanghai Destination of Shopping.