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The partnership will speed up the corporate’s fast world development within the giant and rising marketplace for wearable know-how and software program options
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Nordic Capital will help ProGlove and its distinctive, human centered options to enhance shopfloor processes and obtain substantial effectivity positive aspects
STOCKHOLM, Might 4, 2022 /PRNewswire/ — Nordic Capital, a number one European non-public fairness investor, has signed an settlement to change into the bulk proprietor of the German-based Industrial Web of Issues (“IoT”) firm ProGlove. ProGlove is a disruptive know-how chief for a wiser workforce. In shut partnership with ProGlove’s administration and founders, Nordic Capital will allow the corporate to speed up its future development plans, additional increase its buyer base and spend money on product growth. The monetary phrases of the transaction is not going to be disclosed.
ProGlove is a know-how chief that has been rising quickly since its basis in 2014. With over 250 staff in Munich, Chicago and Belgrade, it serves quite a few prospects in retail and e-commerce, logistics and warehousing, manufacturing and automotive throughout greater than 30 nations. Amongst them are famend world manufacturers comparable to Mercedes Benz, VW, BMW, DHL, XPO Logistics, GAP and Staples.
The corporate offers built-in {hardware} and software program options which might be constructed round wearable barcode scanners with a number of IoT sensors permitting for hands-free information seize. This mixture of German engineering and trade analytics software program caters to the rising demand for digitalization throughout industries. ProGlove’s know-how helps enhance employee well-being, enhance productiveness and optimize effectivity.
ProGlove’s market offers glorious alternatives to handle rising logistical complexity, the demand for accelerated digitalization and the necessity for ergonomic and environment friendly workflows within the wake of the worldwide labor scarcity.
Nordic Capital will actively help ProGlove with its deep understanding of Industrial IoT, its robust community and important expertise from SaaS enterprise fashions.
Andreas König, CEO of ProGlove says: “This chance to work with Nordic Capital is instrumental for ProGlove to assist us acquire additional momentum on our development path. Constructing on Nordic Capital’s super experience in Industrial IoT and SaaS, we will likely be in a really robust place to realize our full potential. We’re extraordinarily enthusiastic about taking our enterprise to the subsequent degree, each when it comes to development in addition to innovation.”
“The ProGlove staff has constructed an impressive enterprise with a robust track-record of high-quality development. ProGlove is a know-how chief with robust aggressive differentiation and a novel buyer worth proposition to allow clean human-machine collaboration. Nordic Capital is trying ahead to writing the subsequent chapter along with the corporate’s robust administration staff,” says Andreas Näsvik, Companion and Head of Industrial & Enterprise Companies, Nordic Capital Advisors.
“I am delighted to have Nordic Capital on board. Its partnership strategy and deep sector experience will give ProGlove extra firepower to additional spend money on individuals and know-how. The acquisition by Nordic Capital undoubtedly proves the power of ProGlove and the super alternatives that lie forward,” says Thomas Kirchner, co-founder of ProGlove.
“ProGlove is a really thrilling firm and an ideal first funding within the Industrial & Enterprise Companies sector for Nordic Capital within the German talking a part of Europe, broadening the sector footprint. Nordic Capital seems to be ahead to working in partnership with the enterprise to additional strengthen ProGlove’s nice staff of engineers and software program builders and to proceed the thrilling trajectory the corporate is on,” says Rainer Lenhard, Companion, Nordic Capital Advisors, Germany.
Nordic Capital has constantly constructed its enterprise over the previous 15 years within the German talking a part of Europe and has change into one of the vital lively buyers, with seven corporations from its focus sectors in its present portfolio.
With an extended historical past of investing within the Industrial & Enterprise Companies sector within the Nordic area, Nordic Capital’s portfolio in the present day contains corporations like Sortera, an environmental companies firm targeted on recycling and waste options; iLOQ, a supplier of self-powered and cell entry administration programs; Consilium Security Group, a producer of security applied sciences for the marine, oil and fuel, transport and constructing sectors; and just lately listed Cary Group, a number one automobile glass restore and alternative supplier providing sustainable automotive care options.
The funding in ProGlove will likely be made by Nordic Capital X. ProGlove’s founders and administration will stay as minority house owners. The transaction is topic to customary regulatory approvals. ProGlove wish to thank the earlier buyers Summit Companions, DI Know-how and Bayern Kapital for his or her help to this point.
Press contacts:
ProGlove
Axel Schmidt
press@proglove.com
+49-89262035036
Nordic Capital
Katarina Janerud, Communications Supervisor
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com
About ProGlove
ProGlove is a World Financial Discussion board Know-how Pioneer and builds the smallest, lightest, and hardest barcode scanners on the planet. ProGlove’s industrial wearables join the shopfloor employee to the Web of Issues. The wearables mixed with ProGlove’s trade analytics software program platform promote human-machine collaboration and drive the digitization throughout the shopfloor. ProGlove’s prospects embody among the most iconic world industrial manufacturers, pioneers and innovators in manufacturing and manufacturing, logistics and warehousing, retail and e-commerce, and put up and parcel. Based in 2014, the corporate employs greater than 250 individuals from over 30 nations with places of work in Chicago, Munich (Germany), and Belgrade (Serbia). Be taught extra at www.proglove.com
About Nordic Capital
Nordic Capital is a number one non-public fairness investor with a resolute dedication to creating stronger, sustainable companies by operational enchancment and transformative development. Nordic Capital focuses on chosen areas and sectors the place it has deep expertise and an extended historical past. Focus sectors are Healthcare, Know-how & Funds, Monetary Companies, and selectively, Industrial & Enterprise Companies. Key areas are Europe and globally for Healthcare and Know-how & Funds investments. Since inception in 1989, Nordic Capital has invested greater than EUR 19 billion in over 120 investments. The newest entities are Nordic Capital X with EUR 6.1 billion in dedicated capital and Nordic Capital Evolution with EUR 1.2 billion in dedicated capital, principally offered by worldwide institutional buyers comparable to pension funds. Nordic Capital Advisors have native places of work in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For additional details about Nordic Capital, please go to www.nordiccapital.com
“Nordic Capital” refers to, relying on the context, any, or all, Nordic Capital branded entities, autos, buildings and related entities. The overall companions and/or delegated portfolio managers of Nordic Capital’s entities and autos are suggested by a number of non-discretionary sub-advisory entities, all or any of that are known as “Nordic Capital Advisors”.
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