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waterland.nu

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Investments

47

Portfolio Exits

27

Funds

9

Partners & Customers

5

Service Providers

2

About Waterland Private Equity Investments

Waterland Private Equity Investments is an independent private equity investment group that supports entrepreneurs in realizing their growth ambitions.

Waterland Private Equity Investments Headquarter Location

Brediusweg 55

Bussum, 1401 AC,

Netherlands

+31 (0)35 694 1680

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Latest Waterland Private Equity Investments News

Waterland’s Laura Dillon on scaling Irish firms into world players

Dec 21, 2021

John Kennedy Share Share Podcast Ep 94: Sailing champion Laura Dillon heads up the Irish arm of Waterland Private Equity Investments , which recently revealed a €2.5bn European fund. She tells ThinkBusiness about her focus on backing SMEs with growth potential. When it comes to navigating the choppy waters of oceans or business, sailing champion and investor Laura Dillon comes across as calm, assured and with a firm eye on the horizon. Appointed head of Waterland Equity Investments in Ireland last year, she is one of 100 investment professionals responsible for managing a new €2.5bn fund aimed at SMEs and entrepreneurs across Europe. “For me it really starts with the people having that aspiration to really take on not only the UK but increasingly Europe and the world beyond” In 1992 she won silver at the Optimist world championships, the largest sailing class in the world. Four years later she took bronze at the youth world championships and became the only female sailor to win the Irish Helmsman’s Championships in its 60-year history. She is also an accomplished entrepreneur in her own right, having run her own healthcare company DSI Distribution which provided cosmetics to Penneys and which was acquired by United Drug. Prior to being an entrepreneur she worked at McKinsey in the US and earned an MBA from Harvard University. Scaling European SMEs into global players   Waterland Private Equity, which has €8bn worth of assets under management, has been steadily building its team in Ireland after opening its Dublin office last year. To date, the business has made investments in more than 700 companies across Europe. It specialises in investing in scaling SMEs and where necessary joining them together to create even greater scale and potential. For example, an investment in United Pet Food saw the business grow from €100m in revenues to more than €600m in revenues. An example of a major investment in Ireland by Waterland would be nursing home provider Silver Stream Healthcare that it intends to help to drive scale. Waterland recently made a significant investment in Mullingar business Writech that will allow the company to accelerate its ambitious UK and European growth strategy. The equity firm with Dillon at the helm in Ireland is constantly on the look-out for more Irish SMEs that it can help bring to scale. Her first love is the ocean. “I grew up near the water in Sutton and sailing is my real passion. I love being out on the water, just feeling so free and having the wind and waves in your face. I suppose that’s where I feel I can really switch off from the rest of the world and forget about everything. I always sailed from a young age with my parents. I was quite good at it and got into the competitive nature of it.” She says the discipline of watching the winds and the tides and being a team player play artfully into how she has navigated the world of business, first as a strategy consultant, then as an entrepreneur, and today as an investor. “I’ve had the pleasure of working in a family business, going on the journey of staring my own company from scratch with nothing and then getting a warehouse and buying a forklift and getting everything up and running.” Dillon looks back fondly on her time as an entrepreneur and having managed to coax her father out of retirement. “He knew the healthcare sector very well and we spent time in the UK and Europe convincing healthcare brands to let us be their distributor in Ireland. And we built that business over a couple of years to supply into nearly every pharmacy in Ireland.” Being an entrepreneur building a business was satisfying. “It gave me a real-world schooling. Suddenly I had to make sure there was money in the bank to make payroll. I had to worry about cashflow, working capital became very important to me, making personal guarantees and suddenly the meaning of being an entrepreneur and taking that individual risk became a lot more real. I enjoyed building a business and creating employment. Ultimately seeing something grow.” Her grounding in building a business she ultimately successfully exited means she has empathy for business owners and an insight into their risks, challenges and opportunities. Tides and tailwinds Her focus with Waterland is to help Irish businesses to scale up. Irish companies she says, have always had to sell internationally because of the small local market. “I think there’s a huge amount of entrepreneurship and a great drive and can-do attitude here in the Irish market. “I think about what factors have been inhibiting businesses from really going to the next level and accelerating their growth. For me it really starts with the people having that aspiration to really take on not only the UK but increasingly Europe and the world beyond. “Irish companies have done phenomenally well in the US and are now beginning to penetrate Asia a bit more.” She describes Waterland’s modus operandi as a partnership approach. “ Our view is that if we can help businesses to accelerate faster than they can do from their own internal resources, then we may well be the right partner for them to scale and get to that next level of growth. “For me it always comes down to people and making sure there is a full alignment. “I’m a great believer in that if we’re not the right partner then who else do I know that could help this business out?” The devil, she says is also in the details. “It’s about making sure we properly analyse the markets and knowing where to focus – where is the growth going to come from over the next five, 10 or 15 years. It’s very much about finding those sectors that have growth potential and where Irish businesses can be successful.” The central tenet of Waterland’s philosophy is backing organic growth and investing in innovation. “But in order to scale at a faster rate, buying other businesses can really help achieve that growth in a shorter period of time. So, we very much look for business owners, entrepreneurs, family-run companies that have that ambition to scale and take their company to the next level.” This, she explains, means finding markets where there is some growth or looking at businesses in fragmented markets where there are opportunities for consolidation. “For example, we really believe that Writech could become a dominant European fire suppression business. It is a fantastic second-generation Mullingar family-run company. We’re hopefully going to be able to announce some acquisitions in the Nordics, the UK or continental Europe next year. We believe that Writech is a great platform and with additional capital, resources and by buying other companies, it will hopefully be a European but, in due course, hopefully a global fire safety and suppression business headquartered here in Ireland that will create a lot of employment.” A crucial litmus test when meeting companies is understanding the owners’ personal ambitions and assessing whether everyone around the table has the same drive and ambitions. “It’s not quite like a marriage, but if you are going to be spending a lot of time together then you want to make sure that everybody is on the same page and have the same objectives up front. Transparency is something that comes from Waterland’s Dutch heritage. So it’s about being direct and having no ambiguity and that everyone has the same view. And if they don’t then it is best to call that early on.” Dillon points out that as a private equity firm, Waterland is distinct from general venture capital players in that it focuses on established companies rather than early stage companies. “It’s really about the stage of companies. For us we look for up-and-running, established companies that are already generating cashflow and positive profits. And we want to help them to accelerate.” Crucially Waterland is focusing on markets that are demonstrating a considerable tailwind. “We don’t need stellar growth, but we do know what markets will have tailwind. There is clearly a drive for sustainability and carbon neutrality. There is an aging demographic in a lot of European countries. So we have four investment themes: sustainability, aging population, outsourcing and digitisation, and leisure and luxury. “We’re always looking to the future, trying to figure out where the growth is coming from. There’s clearly a lot of online growth but there are also older, traditional sectors in engineering, manufacturing and industrial companies.” Dillon concluded that it is about finding synergies and matching strengths where needed. “It’s about getting out there and meeting diverse business owners, entrepreneurs and trying to figure out collectively and in that partnership whether there is a good growth story for Waterland and for some of those Irish businesses to really scale throughout Europe.”

Waterland Private Equity Investments Investments

47 Investments

Waterland Private Equity Investments has made 47 investments. Their latest investment was in Katjang Pedis as part of their Private Equity on July 7, 2021.

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Waterland Private Equity Investments Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/8/2021

Private Equity

Katjang Pedis

Yes

1

6/30/2021

Private Equity

The Cookware Company

Yes

2

3/6/2021

Private Equity

Sideshow

Yes

1

2/5/2021

Private Equity

Subscribe to see more

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10

1/3/2021

Private Equity

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10

Date

7/8/2021

6/30/2021

3/6/2021

2/5/2021

1/3/2021

Round

Private Equity

Private Equity

Private Equity

Private Equity

Private Equity

Company

Katjang Pedis

The Cookware Company

Sideshow

Subscribe to see more

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Amount

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

1

2

1

10

10

Waterland Private Equity Investments Portfolio Exits

27 Portfolio Exits

Waterland Private Equity Investments has 27 portfolio exits. Their latest portfolio exit was Cawood Scientific on November 16, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/16/2021

Acquired

8

8/26/2021

Acq - Fin

4

7/16/2021

Acquired

4

3/15/2021

Acquired

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10

11/19/2020

Acquired

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10

Date

11/16/2021

8/26/2021

7/16/2021

3/15/2021

11/19/2020

Exit

Acquired

Acq - Fin

Acquired

Acquired

Acquired

Companies

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Valuation

Acquirer

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Sources

8

4

4

10

10

Waterland Private Equity Investments Acquisitions

64 Acquisitions

Waterland Private Equity Investments acquired 64 companies. Their latest acquisition was Duvenbeck on January 14, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

1/14/2022

$99M

Acq - Fin

1

1/10/2022

$99M

Acq - Fin - II

1

1/5/2022

$99M

Acq - Fin

1

12/17/2021

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$99M

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10

8/27/2021

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$99M

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10

Date

1/14/2022

1/10/2022

1/5/2022

12/17/2021

8/27/2021

Investment Stage

Companies

Subscribe to see more

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acq - Fin

Acq - Fin - II

Acq - Fin

Subscribe to see more

Subscribe to see more

Sources

1

1

1

10

10

Waterland Private Equity Investments Fund History

9 Fund Histories

Waterland Private Equity Investments has 9 funds, including Waterland ESG Equity Bridge Facility.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/2/2021

Waterland ESG Equity Bridge Facility

$612.05M

1

12/11/2020

Waterland Private Equity Fund VIII

$99M

10

8/28/2017

Waterland Private Equity Fund VII

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$99M

10

4/16/2015

Waterland Private Equity Fund VI

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$99M

10

7/28/2011

Waterland Private Equity Fund V

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$99M

10

Closing Date

6/2/2021

12/11/2020

8/28/2017

4/16/2015

7/28/2011

Fund

Waterland ESG Equity Bridge Facility

Waterland Private Equity Fund VIII

Waterland Private Equity Fund VII

Waterland Private Equity Fund VI

Waterland Private Equity Fund V

Fund Type

Subscribe to see more

Subscribe to see more

Subscribe to see more

Status

Subscribe to see more

Subscribe to see more

Subscribe to see more

Amount

$612.05M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Waterland Private Equity Investments Partners & Customers

5 Partners and customers

Waterland Private Equity Investments has 5 strategic partners and customers. Waterland Private Equity Investments recently partnered with GOD on April 4, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

4/8/2021

Partner

GOD

Germany

Software development provider GOD and Waterland enter into growth partnership 06-04-2021

In partnership with Waterland Private Equity , software development provider GOD , is planning to accelerate its growth .

1

1/20/2021

Partner

Helgstrand Dressage

Denmark

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10

7/9/2018

Partner

Hansefit

Germany

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10

5/7/2018

Partner

Helgstrand Dressage

Denmark

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10

11/4/2014

Vendor

eFront

France

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10

Date

4/8/2021

1/20/2021

7/9/2018

5/7/2018

11/4/2014

Type

Partner

Partner

Partner

Partner

Vendor

Business Partner

GOD

Helgstrand Dressage

Hansefit

Helgstrand Dressage

eFront

Country

Germany

Denmark

Germany

Denmark

France

News Snippet

Software development provider GOD and Waterland enter into growth partnership 06-04-2021

In partnership with Waterland Private Equity , software development provider GOD , is planning to accelerate its growth .

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Sources

1

10

10

10

10

Waterland Private Equity Investments Service Providers

2 Service Providers

Waterland Private Equity Investments has 2 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Private Equity

Investment Bank

Financial Advisor

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Service Provider

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Associated Rounds

Private Equity

Provider Type

Investment Bank

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Service Type

Financial Advisor

Partnership data by VentureSource

Waterland Private Equity Investments Team

11 Team Members

Waterland Private Equity Investments has 11 team members, including current Chief Financial Officer, Bart Elema.

Name

Work History

Title

Status

Jan Moulijn

AlpInvest Partners, and Shell

Founder

Current

Bart Elema

Chief Financial Officer

Current

Johan Haneveer

Controller

Current

Jeffrey Saalberg

Controller

Current

Hans Scheepers

Managing Partner

Current

Name

Jan Moulijn

Bart Elema

Johan Haneveer

Jeffrey Saalberg

Hans Scheepers

Work History

AlpInvest Partners, and Shell

Title

Founder

Chief Financial Officer

Controller

Controller

Managing Partner

Status

Current

Current

Current

Current

Current

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