We invest in, develop and sell technology companies
EatCard bliver en del af Menucard
København, den 5. januar 2016,
EatCard bliver en del af MenuCard
Nordens største restaurant-fordelsprogram er dermed en realitet
Danske Menucard er en app, der giver virksomheder og deres medarbejdere en unik mulighed for at finde, booke, betale og ikke mindst at opnå rabat på de bedste restauranter. Både i forbindelse med repræsentation og ved spisning privat. Dermed skabes besparelser til virksomhederne, gode oplevelser for brugerne, samt flere gæster til restauranterne.
Eatcard er et eksklusivt loyalitetskort, som virksomheder køber og giver til deres bedste kunder, sådan at kort-ejeren opnår rabat ved besøg på både eksklusive restauranter (fire stjerner eller mere), 1. klasses kroer og hoteller i Sverige, Norge og i det nordlige Tyskland.
I transaktionen, der offentliggøres i dag, erhverver Menucard retten til Eatcard-navnet, konceptet, eksisterende aftaler med partnere, dvs. restauranter, mv. ”Dermed skaber vi Nordens største fordelsprogram for virksomheder i relation til de bedste restauranter m.v.” udtaler adm. direktør, Kim Lykke Sommer, MenuCard. Transaktionen får ingen umiddelbare konsekvenser for de eksisterende Eatcard kunder, idet Eatcard, opretholdes på uændret vis.
Menucard er i kraftig vækst og var allerede inden transaktionen Danmarks største aktør på området - med virksomheder, der tilsammen har mere end 130.000 medarbejdere som kunder og mere end 150 danske kvalitets-restauranter partnere. Det forventes at den kombinerede forretning vil skabe en trecifret millionomsætning på danske restauranter m.v. inden for en kort årrække. ”Det er dog kun begyndelsen” udtaler Søren Jonas Bruun, der er hovedaktionær og næstformand i bestyrelsen for Menucard. Han fortsætter: ”Vi mener at vores forretning repræsenterer et potentiale, der kan måle sig med Just-Eat og dermed at vi vil kunne skabe en stor, international virksomhed baseret på et klart fokus og et attraktivt produkt”.
EatCard (etableret i 2009) giver adgang til tilbud og oplevelser på mere end 150 eksklusive restauranter, kroer og hoteller i Norden og det nordlige Tyskland. EatCard har fokus på løsninger til store virksomheder, der vil kræse ekstra om deres mest værdifulde kunder.
MenuCard (etableret i 2011) forbinder med sin app, restauranter med virksomheders medarbejdere, der ønsker at spise godt til en fordelagtig pris. MenuCard har 150 gode restauranter samt over 70 større danske virksomheder som kunder.
For yderligere information, kontakt venligst:
Kim Lykke Sommer, Adm. direktør, MenuCard Tlf.: +45 23 83 20 25 E-mail: email@example.com
Søren Jonas Bruun General Partner, 1CT Management Tlf.: +45 40561109 E-mail: firstname.lastname@example.org
We engage in irresistible companies
Technology in its own right is not interesting. Technologies, business-models and products that have potential to change their industry - or the world for that matter - are irresistible.
Whether early stage with a huge promise or more mature and poised to dominate, we engage if we see opportunity to develop the company and reach an attractive exit within 2-3 years. We already have the experts at hand and you must be open to embrace them.
We engage in a close partnership with you
We invest from a few million Danish kroner and upwards. We invest gradually and receive shares in exchange for the added value that we provide. Founders must maintain a big enough share of their company that they keep their “my company mindset” At the same time, our Founders understand that we are in a close partnership.
We invest in great people – and their technologies.
Making sure we can work together in a close partnership is an absolute requirement, as we work very closely with our entrepreneurs. We look for high moral standards and a match in basic values and ethical standards.
In addition, when evaluating the company we consider the following:
Last mile until exit
We focus on companies that create radical changes. New technologies, or new business models, that transform the way we buy and sell goods and services in a particular market. It’s all about going digital.
ICT (Information and Communication Technology), defined in today's context is our focus:
|At least finished and running in pilot in at least two places. "Block-buster potential".||Proven and scalable with several profitable reference customers in focus segment.||Proven with many reference customers or very strong IP in M&A active market|
|Few paying customers||At least 2 mill DKK
or strong IP
|At least 10 mill DKK
or strong IP
|Products, services and/or business model must be designed to scale.||Must be proven.|
|Not required||Within reach||Above industry average or strong IP|
|Market opening fast||At least well established in DK niche industry||Established technology- and/or market leader.|
Min. 3x investment
How we work
We work together before we invest
Our method is based upon the fact that only if we are a good match is the relationship likely to be a success. We therefore use the logic of the three classic phases in human interaction, in order to arrive at a healthy investment decision:
> Dating – alignment of expectations
In this phase – that takes about 1 month – we align our expectations and we test if the business holds a promise big enough that the expectations can realistically be met. This phase is concluded with a letter of intent.
> Engagement - sharpening the strategy
During the following 1-2 months we work with you under exclusivity to refine the operational business plan, including a longer term exit–strategy and a shorter term go-to-market strategy. This phase is concluded with a detailed term sheet which is binding upon both parties, subject to due diligence.
> Marriage – doing the deal
We then complete our check lists, (contracts, numbers, technology, clients, people) and get the paperwork out of the way before we make the investment. Alternatively, we wish you good luck with no strings attached.
Healthy business = healthy investment
We focus on commercial progress, winning strategic clients and building tangible assets. Sooner rather than later.We try to avoid classic VC' style deep dives, where companies receive large amounts of money in a pre-commercial phase with a risk of going through endless rounds of funding.
Know how + Know who ...
Beyond capital, we provide experience, tools/methods, experts. In fact, we have built a general framework with 60 building blocks. This framework is our guideline to the phases that companies must go through to arrive at the goal: the exit.
And, if needed, we may extend our engagement from 3 years to 5 years.
Clas Dyrholm, Co-Founder and CEO of Realfiction ApS
We are making 1-2 new investments each year. For more information, see "Investment".
MenuCard is Denmark's leading "eat-out-with-a-discount-club" with more than 150.000 members and more than 20.000 Facebook friends.
Pricing fuel at the pump for billions each year based upon ground-breaking artificial intelligence.
Amazing multitouch software for 100s of venues across the world, including fashionable bars, Casinos, Cruise ships, etc.
More than 1.000 holographic 3D displays promote many of the worlds’ largest brands.
Michael Pedersen, Managing Director of HentTilbud
Perfion ApS (DK) successfully transformed its ownership structure. 1CT acted as exclusive advisor to the majority shareholder.
NPC (DK) raised an undisclosed amount from prominent private investors and VC investor Seed Capital. 1CT acted as exclusive advisor to the Company.
Medius Dynamics (S) sold to EG. 1CT acted as exclusive advisor (buy side)
Tacticus (S) sold to EG. 1CT acted as exclusive advisor (buy side)
Sitexploration (SX) sold to Searcus, a leading provider of search consultancy.
Datapro (DK) sold to EG. 1CT acted as exclusive advisor (buy side)
Swedish Unitail AB was sold
to EG A/S. 1CT acted as exclusive transaction advisor (buy side).
1CT Equity II K/S
invested in Menucard, Denmarks leading "eat-out-with-a-discount-club"
1CT Equity II K/S
sold portfolio company
(vintage 2010 investment)
to the Danish Media Group,
North Media A/S
1CT Equity ll K/S
invested in a2i Systems ApS
a Danish software company, specialising in artificial intelligence solutions.
A Gain A/S,
the Danish leader in software licensing and asset management was sold to Norwegian Inmeta Crayon AS.
1CT acted as exclusive transaction advisor (sell side).
1CT Equity II K/S invested in SiteXploration Aps, a Danish software company specialising in SEO back-link analysis.
Swedish Computer Services AB was sold to Danish EG A/S. 1CT acted as exclusive transaction advisor (buy side).
1CT Equity II K/S
invested in Hent Tilbud ApS, the Danish RFQ portal specialising in connecting houseowners with craftsmen.
Our clients choose us because we get the job done
1CT Corporate Finance specialises in cross-border transactions within the ICT Sector. Between the partners we have done dozens of transactions in Northern Europe, US and Asia.
We pride ourselves with being “Bankers and more”. We know the IT industry and the key players from many years of interaction and couple this with senior executive support to our clients in their preparation for the best possible strategic sale – or acquisition.
In other words our Corporate Finance related services span from strategic advisory services prior to the transaction process through assistance in creating the best possible presentation of our client towards the target group, and, continues all the way to management and execution of the transaction process itself.
More often than not we run closed auctions, with a handful of target acquirers or acquisitions. We have acted as advisors in successful transactions ranging from 5 to 100mUSD in transaction value.
Our speciality is strategic acquisitions
We do transactions as well as or better than any other serious advisor. More importantly however, we deliver a combination of industry people who knows their industry and bankers who knows the art of getting a good transaction.
Our clients are portfolio companies that need to carry out acquisitions as part of their international expansion as well as external clients for whom we can add significant value.
We make sure we fully understand the strategic objective of our client and bring new ideas to the table that may go beyond the client’s initial thinking. With an insider’s view of target sectors and geographies we scan the market and deliver qualified options. We deliver qualified and verified candidates with recommendations as we understand the people factor.
We engage with ownership and negotiate with a view to securing real, strategic value. And yes, we also take pride in advising our clients against transactions if we do not feel that the match is not quite right.
“1CTs creativity and dedication made the deal happen”
— Leif Vestergaard, CEO of EG
We know that selling your company is a matter of ultimate importance
Our M&A team is dedicated to selling technology companies, based upon their strategic value, to the best possible buyer when the time is right. We take full responsibility for the process, and, if required, we involve and compensate external experts to increase the chance of success and reduce the anticipated time to completion.
In our experience, most mandates are best executed by adding Exit Consulting Services, such as initial mapping of options, establishment of a realistic time-frame and valuation as well as identification of important strategic or operational actions that may improve the value, timing or chance of success.
Even with clients, whose company is immediately sellable we offer to go beyond “classic” Corporate Finance. We understand, create, present and negotiate the strategic value to chosen strategic buyers in relevant sectors.
In any transaction, performance multiples play an important role in defining the realistic price-range. However, more often than not, we have experienced that the value to the right buyer is also driven by the revenue or cost saving potential - of the technology/business in question as well as the sheer potential related to key people already involved in the company for sale.
“1CT was competent and efficient right from the initial research phase through to the conduction of due diligence and final negotiations. Together, we developed a strategy and followed it all the way to the successful sale of our company”.
— Frank Mortensen, CEO and owner A Gain A/S
Going Public means raising capital for growth and gaining public profile without loss of control
1CT Corporate Finance is an independent advisor that assists growth companies in answering two very basic questions:
- Is an IPO an attractive option for me, and what does it take?
- If so, then where and with whom should I pursue this?
When entering into the unknown territory of going public, what you need is an experienced pilot or coach and that is what we offer. We partner with our customers all the way to the choice of a qualified Certified Advisor in the relevant market/country, with whom our partners then conclude the process towards a successful IPO.
As part of our Services, we screen our customers for their readiness for a public life. More often than not, companies are surprised that an IPO is indeed an attractive option.
With highly experienced resources or partners in place in Denmark, Sweden, Norway, UK and US, we know the different listing venues and help our clients assess the listing venue of greatest relevance for your company.
Once the market is chosen, we assist in preparing and presenting your business to a selection of potential Certified Advisors in the market(s) of relevance.
We also help you choose and negotiate the best listing-agreement, including the actions that must be performed by the Certified Advisor up to and after the IPO, the prices and commitments, etc.
If you need capital for growth and have significant business potential beyond your own local market, then contact us for more about the why, where and how to go public.
They are entrepreneurs themselves
and involved on a daily basis
in each of the companies they invest in.
In my opinion, this is the key to their success”.
Jørgen Kragbøll, Founder of NetDesign and 1CT investor
Venture Capital, and more
Founded in 2004, 1CT provides capital as well as development and transaction services. We are international entrepreneurs and executives with a unique network and track record. We form strong partnerships with our entrepreneurs, based upon respect, team spirit, and a passion for winning.
Great people build great companies
At 1CT we aim to identify the winners of tomorrow, match them with what it takes to succeed (experience, direction, access to industry, etc.) and then we engage and contribute all the way to the completion of an exit.
Growth is the name of the game
We are proud about our portfolio companies and their results so far. Our team and portfolio is growing in size, value and numbers. And we are hungry for more.
At 1CT, the portfolio companies
and corporate finance clients are our Customers
We have extensive experience in developing and selling international companies.
Our Customers partner with us in doing just this.
We focus upon companies and technologies we understand.
Our Customers expect us to climb a steep learning curve in relation to their business.
We have a large network of experienced business professionals and experts.
Our Customers expect us to deliver industry experts and specialized advisors.
We have proven methodologies, based on real life experience.
Our Customers expect us to guide them through new territories.
We define the exit strategy with our clients before we start.
Our Customers expect us to assist them with strategic partnerships and transactions.
Summing it up: Our Customers expect us to make a difference.
The world of technology related companies is as dynamic as ever. This translates into a need for a flexible and agile organization with a constant ability to match companies with the right resources.
Our organization is a combination of a small team and a large foot-print. In other words: as a highly flexible, networked Partnership.
At our core we are 4 partners, with very different, yet all very relevant backgrounds. We have internal as well as external analyst capacity and other resources that work either as employees or as external partners and consultants.
Søren Jonas Bruun, Managing Partner
Peter Max, Partner
Bruno Giversen, Associate Partner
Toke Reedtz, IPO Services
Jørgen Kragbøll, Limited Partner
In addition we enjoy a close ongoing cooperation with many of our investors and we have built a network of Project Partners (more than 100). This is our primaty ressource pool - all executives or experts that we know well and who have worked in areas of importance to us.
1CT Partner Network
Last, but not least, we have our LinkedIn Partner Network of over 400 professionals, where we invite people we know or who have a declared interest in our space and business. Make sure you join today!
1CT Management ApS
Øster Alle 42, 5th
2100 København Ø
Main: +45 33 22 07 00
Fax: +45 33 22 17 00
1st Corporate Technologies Ltd
35 Catherine Place
London SW1E 6DY
Main: +45 33 22 07 00