Aiab energy AB
Aiab energy AB was founded in 1970 and is a supplier of system solutions for power supply, primarily within the fields of standby or backup power and mobile power generation systems. Aiab’s key offerings include automated backup power systems, single and/or parallel operated systems for stationary applications or as mobile modular systems, all within the 10-2500 kVA range.
Aiab is a leader in its field in Sweden and has approximately a 40% share of the relevant Swedish market. Its key customers include the Swedish Emergency Service Agency (MSB), the Stockholm Public Transport Agency (SL) and the Swedish military (FMV) to which Aiab has been an almost exclusive supplier for over 35 years. Although Aiab historically has focused on supplying the Swedish market, it has since 2006 developed an export program and is currently supplying portable power supply solutions to the Norwegian military and is expanding its offerings to several other markets in Europe.
Since 2012, Aiab is a qualified supplier of power supply equipment to the NSPA, the NATO Support and Procurement Agency and has several certified products with an NSN (NATO Stock Number) in NATO’s database.
In 2015, Aiab signed an agreement with EATON regarding distribution in Scandinavia of their DC power solutions.
All development, manufacturing and assembly is done by Aiab in its own factories in Timrå, north of Sundsvall, Sweden. The Company employs about 45 people and Allegro has been the majority owner since 2003.
AnaMar AB is a biopharmaceutical company focused on the discovery of novel therapeutic strategies to treat fibrotic diseases. The company is located at Medicon Village in Lund.
AnaMar AB is developing the first selective 5-HT2B receptor antagonists with potential use in a number of human fibrotic diseases. The compounds developed by AnaMar are of low molecular weight, the molecules are highly potent and highly selective and AnaMar owns the composition of matter intellectual property.
AnaMar has selected a candidate drug from its in-house molecules and is developing this molecule in the orphan indication Systemic Sclerosis, a serious disease currently lacking effective treatment. This internal program is currently in late pre-clinical phase with a submission of an application for clinical trials in humans planned for the near future.
AnaMar employs five people and Allegro has been the lead investor since 2002.
San Diego, USA
ClosingCorp® owns and operates the premier source of intelligence for closing costs and service providers in the U.S. residential real estate industry. Through innovative solutions, progressive technologies and strong alliances, the company delivers timely, accurate and transparent results that help optimize closing processes and services for mortgage lenders, title and settlement companies, real estate professionals and the consumers they serve. Clients rely on ClosingCorp to help improve efficiencies, mitigate risk and deliver an enhanced borrower experience.
The company develops data and technology applications that help streamline the mortgage origination workflow by delivering actual vendor-verified rates—not estimates or averages—from thousands of real estate service providers nationwide. Because of its unique position in the market, ClosingCorp has experienced double digit growth for several years showcased by the onboarding of several top 25 lenders.
ClosingCorp was founded in 2006 and is headquartered in San Diego. It currently has 105 employees and Allegro has been the lead investors in the company since 2007.
Evolve Guest Controls LLC
Evolve Guest Controls delivers turnkey room automation, control and monitoring solutions to the hospitality industry that allows the hotelier to monitor the efficiency of their operations while at the same time create memorable guest experiences and significantly reduce energy and operational costs for the hotels. Evolve’s cloud-based guest interface software platform gives hoteliers the ability to continuously monitor their operations overall and to manage the guest room experience from any web enabled device across all of their properties. Guests are empowered with personalized control over their room environment, including climate, lighting and shading via a scene controller and a third-party tablet controller. Energy costs are the second highest operating expense after labor for hotels and Evolve has demonstrated that its systems reduce energy expenses by 25-40% annually and have a payback period of less than two years.
The Company’s wireless technology enables hotels to integrate Evolve’s state-of-the-art room automation solutions, including energy management, lighting controls and shading and draperies into new or existing buildings. The systems are efficiently pre-programmed for easy installation without “opening the walls”, thereby avoiding costly and time-consuming electrical installations. Evolve’s systems are completely scalable, making future expandability for additional features and enhancements easily added over time.
Evolve room automation systems are operating in most of the leading hotel flags including Hilton, Hyatt, Sheraton, Marriott, Radisson, Westin and many upscale boutique hotels. Its largest installation to-date has been the 2,700 room Wynn in Las Vegas.
Evolve currently employs about 35 people and Allegro became the majority investor in 2013.
Gadelius Holding Ltd.
Gadelius Holding Ltd. is a specialized trading company on the Japanese market. Gadelius is active in seven different business segments; disaster relief, low-energy housing, medical technology, printing equipment, industrial process machinery, food-processing machinery and construction equipment. Within these business segments, Gadelius focuses on importing high-quality niche products and systems from all over the world. In addition, Gadelius has a significant medical device business focused on bringing long established medical device manufacturers to the Japanese market.
Gadelius was originally established in Japan in 1907; it is a Japanese company, even though its owners have always been Swedish or Swedish-related.
The Gadelius group employs about 230 people in locations throughout Japan and Allegro has been an investor in the company since 2006.
San Diego, USA
GovX, Inc. is an eCommerce business dedicated to those who protect our country and communities. Through its flagship website GovX.com, the company offers exclusive discounts to verified members of the military, law enforcement and first-responder communities. These members-only discounts are available for hundreds of premium brands, travel services, entertainment options and tickets to sporting events.
The integrity of the platform is maintained with GovX Verify, a proprietary identification system that validates members and ensures only those who are eligible are admitted to the site. This closed-channel approach allows brands to offer favorable pricing and build a deeper relationship with those who serve, without disrupting other retail channels. GovX also extends its proprietary verification service to a growing list of professional sports teams and businesses wishing to offer discounts on their own sites to these deserving service members.
The company was founded in 2010 and has its offices located in San Diego, California. It has about 70 employees and Allegro has been a key investor since 2013.
Harbour Advisors Cayman Ltd. and Harbour Litigation Cayman Ltd.
Grand Cayman, Cayman Islands
Harbour Advisors Cayman Ltd. (Harbour) serves as the investment advisor to various investment funds with currently in excess of £500 million in partner commitments.
Harbour, together with its sub-advisor, Harbour Litigation Funding Ltd. (“HLF”), provides investment advisory, portfolio management and other services to the Harbour investment funds in respect to litigation, tribunal arbitration and dispute resolution claims and dispute and judgment collections and enforcements (“Claims”). Harbour’s approach is to combine legal, financial and investment expertise in assessing Claims for potential investment by its investment funds.
The services provided by Harbour to its investment funds include recommending Claims, the provision of advice in respect to Claims and the on-going monitoring and review of Claims invested in by its investment funds.
Allegro is one of the initial founders of Harbour and has been invested in Harbour since 2009. Harbour and HLF together employ about 25 people.
INQO Investments (Pty) Ltd.
Cape Town, South Africa
Inqo is an impact investment company investing in businesses that tackle poverty and the social needs of the poor. Inqo believes that enterprise is the best way to tackle poverty through creating sustainable employment that empowers the poor and transforms communities. Whilst aid and philanthropy will always have a role in humanitarian crises, Inqo believes that sustainable transformation of low-income countries can only be achieved through economic development.
As a social venture investment company, Inqo invests in businesses that create jobs, provide services and products for the poor as well as tackle environmental issues. Inqo invests mostly in small to medium size enterprises (SMEs) that are scalable and have potential for growth and asset appreciation. In addition to the financial returns, each investment will be monitored for their measurable social and environmental impact. Our primary investment focus is Sub-Saharan Africa.
Examples of Inqo’s current portfolio companies include Kuzuko Lodge, a five star luxury resort based in the spectacular Eastern Cape Province, which combines fob creation, conservation and transformation, Spekboom Trading, a project involving the re-forestation of 14,000 acres with the indigenous Spekboom plant in the Eastern Cape, South Africa, to restore degraded land, create 150+ jobs and generate carbon trading credits, Bee Sweet Honey Ltd (Zambia), a commercial producer of organic honey using a large network of small famers in the Miombo region of Northern Zambia and Mazima Retirement Plan (Uganda), a voluntary retirement savings scheme for low-income earners in the informal sector of the economy in Uganda.
Allegro first invested in Inqo in 2014 and has continued to add to its investment in 2017 and 2018 as the company has continued to grow and needed additional capital.
JTK Power Finmec Estonia AS (“Finmec”) is a subcontractor of mid-size welded and machined metal components like machine frames, masts, booms and parts of exhaust systems for large semi-fuel engines. Finmec was founded in Estonia in 1994 and became part of the Allegro Group in 2005.
The company has a full in-house production system within the area of cutting, bending, CNC-machining, welding (both manual and robot) and surface treatment, which enables them to control both quality and delivery terms.
Finmec’s main customers are globally listed companies such as Cargotec OY, ABB, Sandvik and Wärtsilä.
Finmec is certified by ISO 9001, ISO 3834, EN 1090 and employs about 90 people.
JTK Power Oy (“JTK”) is a dynamic medium-sized workshop with three main business areas and was founded in 1958 in Vaasa, Finland, with the initial focus on the manufacturing of fire and shelter doors. Development and manufacturing of exhaust systems started in 1998 and in 2001 the company moved to new premises in Vöyri, about 35 km outside of Vaasa.
JTK is a dynamic medium-sized workshop with three main business areas:
- Development and production of advanced silencers and catalytic converters for ship engines, power plants, offshore rigs and the processing industry.
- Advanced CNC machining of parts for ship engines and power plants.
- Manufacturing of steel doors with high security for police and military authorities.
JTK uses qualified technology and software in product development related to acoustic design and flow measurements and has the in-house ability to conduct full-scale tests of sound attenuation and pressure losses from DN200 to DN1600.
Since 2012, JTK has had a subsidiary in Wujiang, China for customers that need advanced silencers and catalytic converters in the marine, power plant and process industries.
Allegro acquired JTK in August of 2013. JTK currently employs a total of about 90 people.
Koncentra Holding AB (“KHAB”) is the company through which the Fund manages its investments in Sweden and Finland, including Aiab energy AB, AnaMar AB, Malmstens Verkstad AB, Koncentra Pistons Oy, JTK Power Finmec Estonia AS and JTK Power Oy. KHAB is based in Stockholm, has in excess of SEK 500 million of equity, with access to substantially larger credit lines and is currently looking for additional investments primarily in Sweden and Finland.
Koncentra Pistons Oy
Koncentra Pistons designs, manufactures and markets large bore pistons for leading manufacturers of medium speed diesel and gas engines. Large bore engines used in marine applications, as well as, in power plants, are exposed to severe combustion conditions. Such combustion environments require pistons that can resist high combustion pressure, high temperatures, heavy wear and extreme corrosive conditions.
Koncentra Pistons is applying proprietary state-of-the art R&D Technology to design piston structures, cooling systems, surface treatment and manufacturing processes of pistons and have invested in the most advanced CNC and Automation Technology for efficient and quality assured manufacturing.
Koncentra Pistons’ technology provides the best possible performance by achieving:
- Outstanding ring groove wear
- Excellent support surface performance
- Light structure
- Improved fatigue strength
- Cost competitiveness
Koncentra Pistons is approved by ISO 9001, ISO 14001 and OHSAS 18001.
The company was founded in 1997, employs about 40 people, is located in Pietarsaari, Finland and Allegro acquired the company in August of 2016.
Malmstens Verkstad AB was founded in 1969 and is a subcontractor of larger and heavier products within the area of CNC-machining, welding, robot-welding and assembly.
The company has extensive experience partnering with large industrial organizations in manufacturing both semi-finished and finished steel components for industrial use. The group is equipped to handle requests for large and heavy-duty components and can manufacture using any method and type of material.
Major clients are Toyota, Konecranes and Cargotec.
Malmstens Verkstad AB employs about 40 people and Allegro became the principal owner in 2010.
Nclear is committed to restoring nature’s equilibrium to the world’s water bodies through a proprietary engineered nanocrystal technology.
NClear’s technology allows water treatment plants and commercial processing facilities to treat their waste water before discharge in an efficient and cost-effective manner and often allows the facilities to re-use the various matters captured by Nclear through the cleaning process, rather than having to dump these in a landfill.
Nclear is a patented synthetic mineral engineered to be the most cost effective and environmentally safe solution to remove contaminants from industrial processes as well as to remove or prevent excess nutrient concentrations from water bodies such as lakes, rivers, streams, estuaries and bays. Nclear nanocrystals can be applied at the source, such as at municipal/commercial wastewater treatment plants, commercial processing plants, agricultural/livestock retention ponds or directly into surface water bodies.
Oxymetal, which was founded in 1984, is the French leader in industrial metal cutting.
Oxymetal offers a wide range of services from high-precision laser cutting from as little as 0.1 mm to the cutting of very thick pieces of up to 400 mm. In addition, Oxymetal offers finishing operations, such as bending, machining and welding and is versatile enough to handle everything from one-off prototypes to serial production.
Oxymetal has a very diversified customer base supplying many different businesses including energy, aerospace, automotive, railroad, construction, industrial machinery and equipment amongst many others.
The company employs about 400 people and Allegro became one of the main investors in 2012.
Plotagon AB, founded in 2012, is a creative start-up based in Stockholm, Sweden.
Plotagon has developed a user-friendly creative app that allows anyone to create animated videos. The method is simple: users choose characters and scenes, write their stories in the form of dialogue, add emotions, sound effects and music with drop-down menus, then press play. The Plotagon app instantly animates what users write and requires no animation experience to use.
The company employs about 5 people and Allegro has invested in Plotagon since 2015.
Menlo Park, USA
Sight Sciences is a commercial-stage medical device company dedicated to the development of intelligently designed and engineered products that address the underlying physiology of ophthalmic diseases. The company operates two business lines: surgical and non-surgical devices.
Sight Sciences’ surgical product portfolio consists of the VISCO360®, TRAB®360 and OMNI™ surgical devices, which are used to treat glaucoma and related deceases. These systems are based on manually operated devices indicated for the delivery of small amounts of viscoelastic fluid during ophthalmic surgery as well as for the cutting of trabecular meshwork when a trabeculotomy is indicated.
The company’s non-surgical product portfolio is focused on the TearCare® System, a wearable, open eye and fully-customizable eyelid technology expected to be available in 2019, which will be a software-controlled eyelid technology that provides targeted and adjustable thermal energy to the meibomian glands, leveraging the full functionality of the blinking eye. The TearCare® System’s proprietary iLid™ technology facilitates natural meibum expression when meibum is in its melted phase.
The company was founded in 2011, and Allegro was one of the initial investors in the company’s Series A. After also having participated in the Series B offering, Allegro in 2018 led the company’s Series C round and in connection therewith Staffan Encrantz joined the Board as Chairman.
Sight Sciences is headquartered in Menlo Park in California and currently has about 20 employees.
Spectrum Holdings Inc.
Spectrum Holdings Inc. (“SHI”) holds the rights to a substantial portfolio of 2.5GHz FCC licenses covering strategic markets in the Southeast US. This spectrum band is currently being used worldwide, including by Sprint in the US, for high-capacity LTE broadband networks. With average spectrum depth of more than 45 MHz and a spectrum footprint covering three million people, SHI believes that its spectrum rights will be a valuable strategic asset for major national wireless providers or independent operators.
SHI expects the proliferation of wireless devices and applications to continue to stress spectrum capacity, creating an opportunity for monetizing its portfolio at very attractive values.
Allegro became the owner of the company in 2011.