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Avedon Capital Partners successfully sells CycloMedia to Volpi Capital

Avedon Capital Partners and Management have announced the sale of CycloMedia, a leading international provider of accurate geospatial imagery-data and data analytics to Volpi Capital, a European growth investor, based in London UK. Both Management and Avedon are pleased with this transaction which confirms the value creation strategy that was actively pursued in partnership.

Founded in 1980 and based in the Netherlands, CycloMedia provides a rich end-to-end B2B geo-data and software platform and has an established presence in the US, Dutch, German and Scandinavian markets. Using proprietary cloud-based technologies, CycloMedia’s high accuracy data sets allow governments and enterprises to assess, analyse and measure physical infrastructure, including buildings, roads and other assets, remotely, and on any device. CycloMedia is uniquely global in its ability to deliver its customers actionable insights from geo-data rapidly and at scale.


Based on its unique technology platform and well-established market position in the Netherlands with many long-lasting customer partnerships, CycloMedia has doubled its sales over the last 4 years. In partnership with Avedon Capital Partners, CycloMedia has achieved strong organic expansion in the US, where revenue has doubled annually in the last 2 years, and in Germany, starting and scaling local operations successfully. CycloMedia has further invested in its world-leading technology platform, accelerating the scalability of the company by renewing its end-user Content-as-a-Service platform, introducing geo-referenced object databases using object recognition and AI analytics, and developing a next generation of capturing systems. On the back of the investments in R&D and sales, CycloMedia’s customer base has been expanding continuously with important customers like New York City, Washington DC, Amsterdam, Rotterdam, Frankfurt and Stuttgart, as well as enterprise customers.


Michel Verhoog of Avedon Capital Partners: “We have supported CycloMedia’s transition from an R&D focused Dutch oriented organisation into an international company far ahead of the game in terms of technology leadership. The transition has resulted in strong growth, especially in the US, which has been very exciting with an impressive client base to show for it. We are proud of what Frank Pauli, the management team and the employees of CycloMedia have achieved.”


“We would like to thank Avedon for supporting us in bringing the company where we are today by entering new markets, investing in new technologies and substantially expanding the organisation. We are pleased to have Volpi Capital on board, and look forward to working with them as we continue to scale our presence globally” said Frank Pauli, Chief Executive Officer of CycloMedia.


About CycloMedia

Founded in 1980, CycloMedia is a leading international provider of data and software solutions virtualising the outside world accurately on-screen. CycloMedia’s customers derive actionable insights from the geo-data platform to power day-to-day decisions remotely and with more accuracy, delivering exceptional ROI. CycloMedia focuses its solutions on tax assessment, asset management, public safety, construction & engineering, utility & transportation and insurance & real estate. CycloMedia employs 140 people and is based in Zaltbommel, the Netherlands, with operations in the US, Germany, and Scandinavia. For more information, please visit www.cyclomedia.com.


About
Avedon Capital Partners Avedon is a leading lower mid-market private equity firm in the Benelux and Germany, providing capital in partnership with strong founder/owners or management teams that have distinctive and ambitious growth plans requiring a step change. The Avedon team is located in Amsterdam (NL) and Düsseldorf (GER) with managed assets of over €500 million. Through dedicated sector teams, Avedon seeks opportunities in niches within four sectors: i) Software & Technology, ii) Business services, iii) Industry & Engineering, and iv) Consumer products & Leisure. Throughout the cycles the team has supported 23 growth companies in the fields of strategy, sales growth, human capital, operational improvement and has achieved a strong track record of growth. For more information, please visit www.avedoncapital.com.


About Volpi Capital
Volpi Capital is a specialist European lower mid-market private equity firm. Volpi has a thesis-driven approach targeting ambitious businesses using enabling technologies to disrupt traditional B2B value chains. Volpi typically invests €25-75 million of equity in businesses with enterprise values between €50 million and €200 million and seeks to drive transformative growth through international expansion and consolidation. The firm, which was founded in 2017 by Crevan O’Grady and Marco Sodi, closed its first fund (Volpi Capital Fund I) in April 2018 with commitments of €185 million. For more information, please visit www.volpicapital.com.

Media Contacts
For CycloMedia:
Frank Pauli / Bart Verhoeven
+31 418 556 119 or bverhoeven@cyclomedia.com

For Avedon Capital Partners:
Michel Verhoog +31 205 682 621 or Michel.Verhoog@avedoncapital.com

For Volpi Capital:
Instinctif Partners
Nick Woods / Ambrose Fullalove +44 20 745 72020 or volpi@instinctif.com

Disclaimer
‘Not for distribution or release, directly or indirectly, in or into the United States or Canada or any other jurisdiction in which the distribution or release would be unlawful. None of the information contained herein constitutes an offer of, or an invitation to purchase, any interests, shares or units, nor any investment advice or services. Neither the investment funds nor their managers mentioned herein are licensed or supervised by the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten) or by any other supervisory authority in any jurisdiction.’




Avedon Capital Partners announces exit of Fit For Free and SportCity to Bencis

The founders, Avedon Capital Partners and management have announced the sale of Fit For Free and SportCity, two successful leading brands in fitness centres, to Bencis, an independent investment company based in the Benelux and Germany. Closing is subject to regulatory approvals. The founders, Avedon and management are pleased with the transaction, confirming the value which has been created with the roll-out strategy of both brands. Founders and management are keen on continuing this growth strategy with Bencis.


In 2009, Fit For Free (founded in 2005) and SportCity (founded in 1995) came together with a strategy to rapidly increase market penetration in the Netherlands, especially with the Fit For Free value format. Throughout maturing of the market, the two brands have established impressive growth and have developed into recognized brands in their respective segments.


With the support of Avedon, SportCity and Fit For Free have increased the number of clubs from 42 to 110 through organic growth and selective acquisitions, resulting in nearly 400,000 members and doubling of its revenues. Substantial investments have been made into opening new clubs, refurbishing existing clubs with innovative formats, highest quality equipment and digitalization of the company’s membership and IT infrastructure. The organisation has been strengthened and professionalized through development of marketing, human capital, site selection and management, and strong day-to-day operational management.


Michel Verhoog of Avedon Capital Partners: “It has been exciting to be part of the growth journey of Fit For Free and SportCity. The company has continuously improved to maintain its market-leading formats for many years. It’s been inspiring to see how passionately the teams at Fit For Free and SportCity work towards delivering the best service and experience for their members. We are convinced that with Bencis, Fit For Free and SportCity have found a partner to support a bright future for the company.”


Sabine Kloos, Chief Executive Officer of Fit For Free and SportCity said: “We are thankful that Avedon has supported the substantial investments in the growth strategy and the organisation to create a leading fitness platform for further growth. And we are looking forward to working with Bencis to continue our growth path and deliver the best service and experience for our members”.


About Fit For Free and SportCity
Fit For Free provides affordable and accessible gyms to value focused customers across 90 prime locations in the Netherlands. Fit For Free differentiates itself with offering ‘live’ group lessons with trained instructors, the highest quality of equipment and support through fitness trainers on the gym floor. Fit For Free offers cardio training, weight training, live group lessons, spinning, circuit training, FunXtion, and personal coaches. For more information, please visit www.fitforfree.nl


SportCity offers premium fitness facilities across 19 locations across the Netherlands. Customers choose SportCity for its personal approach in a full fitness and wellness service offering for a reasonable price. SportCity clubs offer many live group lessons, Body&Mind classes, individual Get Started Programs, high-quality instructors, tanning & wellness facilities, child day care and squash facilities. For more information, please visit www.sportcity.nl.


About Avedon Capital Partners
Avedon is a leading lower mid-market private equity firm in the Benelux and Germany, providing capital in partnership with strong founder/owners or management teams that have distinctive and ambitious growth plans requiring a step change. The Avedon team is located in Amsterdam (NL) and Düsseldorf (GER) with managed assets of more than €500 million. Through dedicated sector teams, Avedon seeks opportunities in niches within four sectors: i) Software & Technology, ii) Business services, iii) Industry & Engineering, and iv) Consumer products & Leisure. Throughout the cycles the team has supported 23 growth companies in the field of strategy, sales growth, human capital, operational improvement and has achieved a strong track record of growth.

Media Contacts
For SportCity and Fit For Free:
pers@fitforfree.nl
+31 71 808 0165

For Avedon Capital Partners:
Michel Verhoog
+31 20 568 2621