Wendel: Tadaweb, Wendel Growth’s First Direct Investment in Europe
PRESS RELEASE – JANUARY 4, 2023
Tadaweb,
Wendel Growth’s First Direct Investment in Europe
Wendel (Euronext: MF.FP), through its investment arm Wendel Growth1, announced today that it has entered into a definitive agreement to acquire a minority interest of Tadaweb. Wendel will make an equity investment of €15 million to support Tadaweb’s growth. The transaction is expected to close in the first quarter of 2023, subject to customary conditions and regulatory approvals.
Tadaweb delivers open-source intelligence (OSINT) platforms that enable organizations to generate actionable intelligence by making analysts’ investigative methods hyper-efficient, reducing time to insight from days to minutes. Tadaweb’s platforms scale analysts’ expertise across the vast, volatile reaches of the internet. This fast growth company, employing over 120 people, is headquartered in Luxembourg with offices in Paris, London, and Ottawa.
Jérôme Michiels, EVP, CFO and Head of Wendel Growth, said: “I am very pleased to welcome Tadaweb into Wendel’s portfolio. This first direct investment in Europe by the Wendel Growth investment team, led by Antoine Izsak, is fully in line with what we want to target: innovative companies with high growth and leadership potential, led by committed entrepreneurs.”
Antoine Izsak, Head of Growth Equity said: “We are delighted to make our first investment in Tadaweb, a leader in the fast-growing OSINT market, where the company offers a unique set of services and features as well as a world-class team. I’m looking forward to implementing the partnership that we’re creating with François Gaspard and Genna Elvin and their teams.”
Genna Elvin, Chief Tada Officer and cofounder stated: “This investment marks another major milestone in our history. It will accelerate our expansion globally, including our entry into the United States and additional European markets. We have been a profitable company for over 5 years, and this represents a pivotal step for the company. Our recently expanded leadership team, along with this relationship, significantly shifts our ability to scale our products and the global markets we serve.”
François Gaspard, Chief Executive Officer and cofounder, shared: “Becoming part of the Wendel portfolio, is another step in our long-term growth plans worldwide. We have a shared history in Luxembourg as well as France and have a shared commitment to building enduring businesses. At Tadaweb, we continue to be deeply steeped in our European roots. This opportunity to partner with Antoine and the Wendel Growth team, is truly a special moment in our story.”
Ted Hickey, Head of Strategy: “Our leadership team is excited to leverage the expertise and global access Wendel Growth provides to their portfolio companies, which will be important as we expand into new markets and scale our open-source intelligence platforms.”
About Wendel Growth:
With Wendel Growth (formerly Wendel Lab), Wendel invests via funds or directly in innovative, high-growth companies. With close to €170 million already committed through the initiative in recent years, Wendel Growth seeks direct investment and coinvestment opportunities in startups. To make these direct investments, like the 2019 investment in AlphaSense, Wendel Growth is supported by a new team made up of two professionals experienced in this asset class, including Antoine Izsak, who joined Wendel in early February as Head of Growth Equity. Mr. Izsak was previously Investment Director at Bpifrance. Wendel’s ambition is to invest up to €50 million in scale ups in Europe and North America and will continue to invest in funds and funds of funds.
About Tadaweb:
Tadaweb reshapes how organizations generate intelligence from publicly available information, helping them detect critical trends and accelerate their investigations, mirroring analysts methods in a hyper-efficient and scalable process, reducing time to actionable insight from weeks to minutes. Learn more at tadaweb.com
Agenda
March 17, 2023
2022 Full Year Results — Publication of NAV as of December 31, 2022 (pre-market release)
April 28, 2023
Q1 2023 Trading update — Publication of NAV as of March 31, 2023 (pre-market release)
June 15, 2023
Annual General Meeting
July 28, 2023
H1 2023 results — Publication of NAV as of June 30, 2023 and condensed half-year consolidated financial statements (pre-market release).
October 27, 2023
Q3 2023 Trading update — Publication of NAV as of September 30, 2023 (pre-market release).
December 7, 2023
2023 Investor Day.
About Wendel
Wendel is one of Europe’s leading listed investment firms. The Group invests in Europe and North America in companies which are leaders in their field, such as Bureau Veritas, ACAMS, Constantia Flexibles, Crisis Prevention Institute, IHS Towers, Stahl and Tarkett. Wendel often plays an active role as a controlling or significant shareholder in its portfolio companies. Wendel seeks to implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor’s ratings: Long-term: BBB, stable outlook—Short-term: A-2 since January 25, 2019
Moody’s ratings: Long-term: Baa2, stable outlook since September 5, 2018
Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of “Grand Mécène de la Culture” in 2012.
For more information: wendelgroup.com
Follow us on Twitter @WendelGroup
1 Formerly Wendel Lab
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