Category Archives: News

ARCOS Announces New Strategic Growth Investment from Bain Capital

BainCapital

COLUMBUS, Ohio – June 10, 2025 – ARCOS® LLC, the leading field operations and workforce management solution provider for utilities and critical infrastructure industries, today announced a new strategic growth investment from Bain Capital. The partnership will support a variety of growth and product innovation initiatives across the business. Terms of the private transaction were not disclosed.

ARCOS is the only field workforce management system designed for utilities that integrates data from disparate systems of record to provide field workers and central operations real-time situational awareness, enabling them to safely and efficiently perform the full spectrum of field operations to manage both planned and unplanned field operations.  ARCOS’ AI-enabled software solutions are leveraged by customers from Fortune 150 energy companies to municipal utilities to power and transform their field management operations.

“Now more than ever utilities face increased strain on their grids as they address rising energy demands, climate change impacts, the integration of renewable energy sources and the replacement of aging infrastructure,” said Paul Bernard, CEO of ARCOS. “We are excited to continue to drive the digital transformation of the utility industry with our expanding suite of AI-powered, modern and mission-critical field operation solutions.” ARCOS’ recent acquisition of Clearion expands its capabilities into adjacent areas such as vegetation and asset management, strengthening its position as the most comprehensive field operations and workforce management platform for utilities. The partnership with Bain Capital will support continued investment in key products like Mobile Workbench, enhancing field crew productivity, while also enabling continued inorganic growth to further expand ARCOS’ platform capabilities.

“ARCOS provides an essential platform for modernizing how utilities respond to increasingly complex operational demands — from extreme weather to grid modernization and workforce constraints,” said Matt Evans, Partner at Bain Capital. “We are thrilled to partner with Vista and the ARCOS team to further accelerate innovation and build on the Company’s clear leadership in field operations technology during this next phase of growth. This investment is designed to provide a flexible capital solution to support ARCOS in further scaling its mission-critical impact.”

“ARCOS has established itself as a vital technology platform for the utilities and critical infrastructure industries by providing easy-to-use digital tools that help organize, automate and optimize their customers’ complex and variable field service operations,” said Martin Taylor, Co-Head of Vista’s Foundation Fund and Senior Managing Director. “We look forward to building on this momentum with Bain Capital and further strengthening ARCOS’ commitment to product and operational excellence.”

About ARCOS LLC
ARCOS provides innovative field workforce management solutions that help utilities and other critical infrastructure industries manage people, work, and assets in a single platform. ARCOS enables utilities to quickly mobilize personnel for blue and grey sky work, manage native and non-native crews in a single system, and accelerate operations with field mobility tools that deliver real-time situational awareness and significant productivity improvements. More than 200 utilities rely on ARCOS to advance safety, reduce field costs, and improve response times and customer satisfaction. To learn more, visit https://www.arcos-inc.com. Follow @ARCOS on LinkedIn.

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. Our Special Situations team focuses on capital solutions opportunities that provide companies flexible capital that meets their specific needs, coupled with deep operational, strategic and financial value-add capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.BainCapital.com. Follow @Bain Capital on LinkedIn and X (Twitter).

About Vista Equity Partners
Vista is a global technology investor that specializes in enterprise software. Vista’s private market strategies seek to deliver differentiated returns through a proprietary and systematic approach to value creation developed and refined over the course of 25 years and 600+ transactions. Today, Vista manages a diversified portfolio of software companies that provide mission-critical solutions to millions of customers around the world. As of December 31, 2024, Vista had more than $100 billion in assets under management. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on X, @Vista_Equity.

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Main Capital Partners acquires majority stake in CarWise & AutoDisk, market leader in integrated ERP software for leasing and car rental companies

Main Capital Partners
Main Capital Partners today announces the acquisition of CarWise and AutoDisk (collectively, “CarWise”), two integrated companies that hold a market-leading position in front-, mid- and back-office ERP solutions for the leasing and car rental sector in the Benelux.
Home / Knowledge / Press release / Main Capital Partners acquires majority stake in CarWise & AutoDisk, market leader in integrated ERP software for leasing and car rental companies

CarWise was founded in Almere in 1989 by brothers René and Roland Fabrie. AutoDisk followed in 1991, launched by Alain Snel and Klaas Steenstra in Haarlem. Close cooperation began in the 1990s, enabling companies to offer, for more than three decades, a single integrated, modular platform that supports the entire leasing and rental value chain. Over 370 organizations benefit from a seamlessly automated workflow encompassing every core process – from quotation and lease-price calculation, mobility budgeting, and contract and fleet management to invoicing and reporting – optimizing virtually all activities related to the renting, leasing and managing of vehicles.

With a team of about 65 professionals, a strong Benelux presence and a growing European footprint, CarWise is ready for a new phase of growth. Backed by Main, the company is well positioned to accelerate its European expansion strategy. Main and CarWise will jointly focus on further product innovation, internationalization, and enhancing customer experience through smart solutions for the leasing and rental markets. The founders of CarWise and AutoDisk will remain involved as shareholders in the business.

CarWise and AutoDisk unite front-, mid- and back-office solutions in a single modular suite, giving them a unique market position.”

– Sjoerd Aarts, Head of Benelux & Managing Partner at Main: Capital Partners

René Fabrie, Founder of CarWise: “Partnering with Main is a major milestone for us. We are proud of what we have built over the past 35 years, and we believe Main – together with the family and current management – is the right partner to take the company forward. Main brings extensive experience, deep local knowledge and a broad international network. We look forward to this collaboration with great confidence and enthusiasm.”

Alain Snel, Founder of AutoDisk: “We are delighted to share this news. In recent years we have already transferred operational responsibilities to Edwin Fhijnbeen, Vincent Stikkelorum and the broader management team. We are confident that, together with Main, they are well positioned to lead the company into its next phase, continuing to focus on innovation, customer experience and organizational development.”

Sjoerd Aarts, Head of Benelux & Managing Partner at Main Capital Partners: “CarWise and AutoDisk unite front-, mid- and back-office solutions in a single modular suite, giving them a unique market position. With a leading presence in the Benelux and operations in nine European countries, the company is ready for the next step in its growth strategy. We look forward to supporting Edwin, Vincent and the broader team in executing that strategy in the Benelux and across Europe.”

About CarWise & AutoDisk

CarWise and AutoDisk jointly offer a one-stop mobility solution that seamlessly integrates the core processes of leasing companies – from quotation and vehicle configuration to contract management, invoicing, fleet management and reporting – enabling leasing and rental firms to boost operational efficiency, ensure compliance and make faster strategic decisions.

Nothing contained in this Press Release is intended to project, predict, guarantee, or forecast the future performance of any investment. This Press Release is for information purposes only and is not investment advice or an offer to buy or sell any securities or to invest in any funds or other investment vehicles managed by Main Capital Partners or any other person.

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Mercanis Secures Over $20 Million in Series A Round

AVP
  • The company receives fresh capital from new investors Partech and AVP, as well as from existing investors.
  • Mercanis enables over 40% process cost savings and supports clients such as BASF-Coatings, GASAG, Goldbeck, Wilson, and Brose.
  • The funds will be used to further develop Agentic AI and support the upcoming expansion plans, including into the U.S.

Berlin, June 11, 2025

In its latest Series A round, Mercanis, a Berlin-based startup for Agentic-AI procurement solutions, has raised over $20 million. The round was led by new investors Partech and AVP, with additional funding from existing investors, including Signals.VC, Capmont Technology, and Speedinvest. Well-known business angels like Dr. Ulrich Piepel, Dr. Marcell Vollmer, Mirko Novakovic (Instana & Dash0), and Victor Jacobsson (Klarna) continue their support for Mercanis. The additional capital will be used to further strengthen the company’s leadership position in Agentic-AI and accelerate its international expansion, including entry into the U.S. market.zIn its latest Series A round, Mercanis, a Berlin-based startup for Agentic-AI procurement solutions, has raised over $20 million. The round was led by new investors Partech and AVP, with additional funding from existing investors, including Signals.VC, Capmont Technology, and Speedinvest. Well-known business angels like Dr. Ulrich Piepel, Dr. Marcell Vollmer, Mirko Novakovic (Instana & Dash0), and Victor Jacobsson (Klarna) continue their support for Mercanis. The additional capital will be used to further strengthen the company’s leadership position in Agentic-AI and accelerate its international expansion, including entry into the U.S. market.

Fabian Heinrich, CEO and Co-Founder of Mercanis, states: “The trust placed in us by both long-standing and new investors is not only a powerful endorsement of our mission, but also a driving force behind our ongoing commitment to excellence. With this funding, we can expand our AI solution and accelerate our international expansion – particularly into the U.S. In times of geopolitical and economic uncertainty, our technology empowers companies far beyond Germany to build more resilient procurement operations that safeguard their supply chains and protect their bottom line.”

Next-generation AI-powered procurement

Founded in 2020 by Fabian Heinrich and Moritz Weiermann, Mercanis aims to reshape procurement processes with its Agentic-AI Procurement Suite. The cloud-based platform combines procurement, supplier management, and contract management. Intelligent agents autonomously handle operational tasks, while AI continuously analyzes procurement data to uncover savings opportunities, enhance strategic decisions, and drive measurable results—delivering over 40% process savings, a 2.5x increase in efficiency, and a 12x return on investment.

“Mercanis has transformed the way we manage suppliers and execute procurement projects. What used to take days now takes only hours. The automation and transparency help us act faster and make better decisions – especially when multiple stakeholders are involved. It’s a must-have for any procurement team looking to modernize,” says Uwe Kreplin, Head of Procurement at GASAG.

In addition to GASAG, Mercanis also counts BASF-Coatings, Goldbeck, Wilson, and Brose among its clients.

“Within just a few years, Mercanis has established itself as a trusted partner to multinational firms, with impressive traction across organizations now procuring billions through the platform,” says Philippe Collombel, Founding and General Partner at Partech.

“We are particularly impressed by the strength of their product and its ability to drive adoption at scale,” adds Magda Poslusny, Principal at Partech. “By automating key procurement processes, Mercanis not only boosts operational efficiency but also drives meaningful cost savings by engaging a broader supplier base. We are confident Mercanis is on track to become a category leader in procurement.”

About Mercanis

Mercanis offers an Agentic-Ai Procurement Suite that covers the entire procurement process – from supplier selection to contract signing. The solution includes four key modules: Spend Analytics, Sourcing & Request Processes (RFx), Supplier Management (SRM), and Contract Management. With the integrated Mercu AI Co-Pilot, repetitive tasks like supplier discovery, risk detection, intake management and offer comparison are automated, leading to significant efficiency improvements and over 40% process savings. Founded in 2020 by Fabian Heinrich and Moritz Weiermann, Mercanis supports prominent clients like BASF-Coatings, GASAG, Goldbeck, Wilson, and Brose in digitizing their procurement processes. The company is based in Berlin and currently employs over 40 people.
Learn more at mercanis.com

About Partech

Partech is a global tech investment firm headquartered in Paris, with offices in Berlin, Dakar, Dubai, Nairobi, and San Francisco. Partech brings together capital, operational experience, and strategic support to back entrepreneurs from seed to growth stage. Born in San Francisco 40 years ago, today Partech manages €2.5B AUM and a current portfolio of 220 companies, spread across 40 countries and 4 continents.
Learn more at partechpartners.com

Press Contact

Sabrina Rymarowicz
Zossener Straße 56-58
10961 Berlin
sabrina@get-press.de

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AURELIUS closes oversubscribed Fund V, EUR 830m fresh capital to be deployed

Aurelius Capital

London/Luxembourg, June 18, 2025 – AURELIUS, a global private equity investor with operations in Europe and North America, successfully closed AURELIUS Opportunities V (“Fund V”) following a significantly oversubscribed process that was completed after only five months of marketing. Given high demand, AURELIUS capped the size of Fund V to maintain investment discipline and preserve the exceptional performance record built over the last 20 years. AURELIUS now has a new capital pool of EUR 830m available. It follows in the footsteps of its top-decile EUR 540m 2021 co-investment structure of AURELIUS European Opportunities Fund IV (“Fund IV”) and AUR Portfolio III.

Focused on mid-market investments, Fund V will invest in corporate carve-outs, platform build-ups and complex buy-out situations for companies with annual revenues of at least EUR 100m. It will invest equity of up to EUR 150m to acquire enterprises with potential for operational improvement in Europe and North America.

As with its predecessor, Fund V portfolio companies will be advised by AURELIUS’ operations advisory team, recently named AURELIUS WaterRise, which will seek to create value by implementing the same proven strategy AURELIUS has been utilising for two decades: providing hands-on support and bespoke advice with its more than 180 global specialists.

Following the outstanding success of Fund IV – currently ranked in the top 5% across all industry benchmarks[1] – AURELIUS raised Fund V from more than 90% of its existing investor base and a number of new blue-chip LPs. The investor group includes a wide range of institutional investors, such as prestigious US and European university endowments, pension funds, insurance companies, family offices and charitable foundations.

Fabian Steger, Managing Director Fund IV and Fund V, says: “We are delighted to have seen such strong demand for our new Fund V, especially considering the challenging economic and geopolitical environment we find ourselves in. This is testament to the success of its predecessor fund, and we recognise our responsibility to do all we can to emulate it. We would like to thank our new investor group for the trust they are showing in us.”

Dirk Markus, AURELIUS’ co-founder, adds: “Being able to close Fund V just ahead of our 20-year anniversary celebrations is especially gratifying. Many conversations with potential investors have shown that they want GPs to go back to the basics of improving the operational performance of their portfolio companies, rather than relying on financial leverage or multiple expansion. AURELIUS has no need to ‘go back’ – we have been all about operational excellence since our inception in 2005.”

Aurelius Investment Advisory Limited is an Appointed Representative of Langham Hall Fund Management LLP, which is authorised and regulated by the Financial Conduct Authority of the UK.

Asante Capital Group acted as exclusive global placement agent.

For further inquiries, please contact:

Harald Kinzler
Head of Communications
harald.kinzler@aurelius-group.com
+44 7510 385 551

[1] Benchmark figures sourced from Cambridge Associates ex-US Q2 2024 Private Equity Benchmarks. AURELIUS Midmarket performance data as at Q3 2024. No fees were paid in connection with this benchmarking.

ABOUT AURELIUS

AURELIUS is a globally active alternative investor, distinguished and widely recognised for its operational approach. It focuses on Private Equity, Private Debt and Real Estate. Its key investment platforms include AURELIUS European Opportunities IV, AUR Portfolio III and AURELIUS Growth Investments (Wachstumskapital). AURELIUS has been growing significantly in recent years, particularly expanding its global footprint, and today employs more than 400 professionals in 9 offices spanning Europe and North America.

AURELIUS is a renowned specialist for complex investments with operational improvement potential such as carve-outs, platform build-ups or succession solutions as well as bespoke financing solutions. To date, AURELIUS has completed more than 300 transactions, building a strong track record of delivering attractive returns to its investors. Its approach is characterised by its uncompromising focus on operational excellence and an unrivalled ability to efficiently execute highly complex transactions.

More info: www.aurelius-group.com

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Audax Private Equity’s Origins Strategy Completes Thermogenics Exit

Audax Group

The first investment out of Audax’ debut lower middle market strategy now represents its first realization.

The sale comes less than three years after Audax Private Equity closed its inaugural Origins fund.

BOSTON & SAN FRANCISCO, June 18, 2025 — Audax Private Equity (“Audax”), a capital partner for middle and lower-middle market companies, announced today that it has completed the sale of Thermogenics, a provider of industrial and commercial boiler service and maintenance across North America. Morgan Stanley Capital Partners (“MSCP”) acquired Thermogenics as part of a new investment in the company that closed on June 10, 2025. Terms of the deal are not disclosed.

“Thermogenics represented our very first investment through our Origins strategy,” noted Greg Smith, a Managing Director at Audax Private Equity. “As the strategy’s first exit – almost three years to the day since we closed the acquisition – we think the investment demonstrates the impact of our Buy & Build approach to help lower middle market companies create a foundation for accelerated growth and provide management teams with the tools and resources to execute on their vision through M&A and organic value creation initiatives.”

“When we initially partnered with Audax, the scale and depth of resources stood out,” noted Ross Garland, Chief Executive Officer of Thermogenics. “Now, in hindsight, the collaboration of their Strategic Resources Group, the breadth of Audax’ business development and sourcing function, and the deep experience of the investment team, each played a critical role in positioning Thermogenics to capitalize on the opportunity set in front of the business. We’re looking forward to building on this momentum and embarking on our next phase of growth with MSCP.”

Based in Aurora, Ontario, and with over 250 employees, Thermogenics is a provider of boiler lifecycle solutions to a diverse set of commercial and industrial customers. Under Audax’ ownership, Thermogenics expanded its executive team and added key roles to facilitate growth; upgraded and enhanced its IT infrastructure, including the implementation of a new ERP system; and completed and integrated six acquisitions that expanded the company’s geographic footprint in the U.S., while enhancing its service offering. During the hold, Thermogenics’ top- and bottom-line performance more than doubled.

The investment in Thermogenics was made through Audax’ debut Origins Fund, announced in 2023, which closed above target with $965 million, inclusive of GP co-investment vehicles, to deploy across the North American lower middle market.

“Throughout our hold, we leveraged our deep experience in Industrial Services & Technologies, a sector where we have completed over 60 platform investments through our Flagship and Origins strategies and have deployed over $3 billion,” noted Don Bramley, a Partner at Audax Private Equity.

“We want to thank Ross and the entire management team at Thermogenics,” added Jay Mitchell, a Partner at Audax Private Equity. “When we launched our Origins strategy in 2022, our objective was to leverage our deep investment in our organization and extend our Buy & Build approach to lower middle market companies. Our conviction in the strategy, the investment thesis, and the management team translated into what we consider to be a tremendous outcome for Thermogenics, Audax and our investors. It’s an investment we’re proud of and believe helps to set the tone for our strategy going forward.”

Solomon Partners served as sell-side lead advisor, while KeyBanc Capital Markets served as co-advisor. Kirkland & Ellis LLP provided legal counsel to the sellers, while Debevoise & Plimpton LLP served in the same capacity to MSCP.

About

ABOUT THERMOGENICS:
Thermogenics is a provider of boiler lifecycle solutions in North America, offering boiler service & maintenance, equipment sales, and rental solutions for its customers’ mission critical boilers in industrial, commercial, and institutional sectors. With 24/7 factory-trained technician support and its boiler rentals solution set, Thermogenics and its affiliated brands function as a one-stop shop for its customers’ most complex steam and heating needs.
Headquartered in Aurora, ON, Thermogenics operates across North America with locations in Ottawa, ON, Cincinnati, OH, Jacksonville, FL, Orlando, FL, Sioux City, IA, West Hartford, CT, Greensboro, NC, Apache Junction, AZ and Las Vegas, NV.

ABOUT AUDAX PRIVATE EQUITY:
Headquartered in Boston, with offices in San Francisco, New York, London and Hong Kong, Audax Private Equity manages three strategies: its Flagship and Origins private equity strategies, seeking control buyouts in the core middle and lower middle markets, respectively, and its Strategic Capital strategy that provides customized equity solutions to PE-backed portfolio companies to help drive continued growth. With approximately $19 billion of assets under management as of March 2025, over 290 team members, and 100-plus investment professionals, Audax has invested in more than 175 platforms and over 1,350 add-on acquisitions since its founding in 1999. Through our disciplined Buy & Build approach, across six core industry verticals, Audax seeks to help portfolio companies execute organic and inorganic growth initiatives with the aim of fueling revenue expansion, optimizing operations, and significantly increasing equity value. For more information, visit www.audaxprivateequity.com or follow us on LinkedIn.

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Ratos advances streamlining strategy

Ratos

Ratos is, as previously announced, streamlining the company towards fewer business segments. Following the successful public listing of the construction group Sentia (SNTIA) on the Oslo Børs June 13 and the divestment of airteam, a leading supplier of technical ventilation solutions, during the second quarter of 2025, Ratos has taken several decisive steps to streamline the company and enhance long-term value creation.

The transactions represent a divestment of Ratos’ Construction Services segment, a key milestone in Ratos’ strategy of focusing on business segments with long-term profitable growth, strong margins and returns as well as lower volatility, predominantly in infrastructure- and industrial product solutions segments. The reallocation of capital and management attention towards these prioritized segments will strengthen Ratos’ position in sectors where it sees the greatest opportunity to deliver long-term shareholder value.

Following the transactions, Ratos’s EBITA margin is expected to improve by approximately +200 basis points. However, the Group’s leverage ratio (net debt/EBITDA) will be adversely impacted, primarily due to Sentia’s strong cash position — a net of proceeds of approximately SEK 1.5 billion and cash of approximately SEK 2.9 billion. Sentia’s net cash position is largely driven by customer prepayments for major construction projects.

It is important to note that Ratos’ current ownership stake in Sentia is valued at approximately SEK 2.2 billion. Should the stake be divested, the Group’s leverage would improve significantly, from a pro forma level of 1.7x following the transaction, to approximately 0.6x.

Impact on main financial metrics from airteam-divestment and Sentia-listing

As reported After transactions
MSEK FY 2024 airteam Sentia FY 2024 Change
Net sales 32,125 1,714 10,354 20,057 -38%
EBITA adjusted 2,329 160 569 1,790* -23%
EBITA % adjusted 7.2 9.3 5.5 8.9 +170bps
All below excl. IFRS16 and items affecting comparability (IAC)/adjustments
Net debt 2,815 -1,053 +1,434 3,196 +14%
EBITDA adjusted 2,389 161 576 1,842* -23%
Leverage (Net debt/EBITDA) 1.2x 1.7x** +0.5x

*Including profit contribution from ~40% stake in Sentia
**Leverage at 0.6x if stake in Sentia is divested (share price assumed at ~57 NOK (2025-06-17))

For more information, please contact:
Anna Vilogorac, CFO & Investor Relations
+46 70 616 50 19, anna.vilogorac@ratos.com

Katarina Grönwall, VP Communications & Sustainability
+46 70 300 35 38, katarina.gronwall@ratos.com

About Ratos
Ratos is a Swedish publicly listed business group consisting of 14 companies across three business areas: Construction & Services, Industry and Consumer. The Group operates mainly in the Nordic region, with net sales of SEK 32 billion and an adjusted EBITA of SEK 2.3 billion in 2024, and with a total workforce of around 10,900 employees. Ratos is headquartered in Stockholm, Sweden.

We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger.

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Press release

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Accel-KKR Receives Minority Equity Investment from PACT Capital Partners

AKKR Logo

MENLO PARK, Calif., June 18, 2025— Accel-KKR, a software and technology-focused private equity firm, today announced that PACT Capital Partners, a middle-market focused GP stakes investment firm, has made a minority equity investment in the firm.

Proceeds from the PACT investment will be used primarily to increase Accel-KKR’s capital commitments to the firm’s current investment strategies and support the firm’s continued growth. None of the capital being invested by PACT as part of this transaction is being distributed to the principals of Accel-KKR.

Tom Barnds and Rob Palumbo, co-Managing Partners of Accel-KKR, said, “This investment by PACT will accelerate our achievement of our strategic goals, and we are excited to extend our relationship with Christian von Schimmelmann, who has been a friend to Accel-KKR for many years. We look forward to leveraging PACT’s relationships and value-added capabilities through their imPACT team.”

“The principals of Accel-KKR are already the largest investors across our capital base, providing strong alignment with our limited partners,” Barnds and Palumbo said. “This investment from PACT will help us to expand our future capital commitments across the entire Accel-KKR platform.”

Christian von Schimmelmann, Managing Partner at PACT, said, “We are thrilled to partner with Accel-KKR, which we believe is one of the preeminent technology investment platforms in the world, and to back them with both capital and strategic support. On a personal level, I’m very excited to continue the relationship with Tom and Rob, who have built what we view as one of the strongest and best performing private investment businesses in the industry.”

Brian Vickery, Partner and head of PACT’s proprietary imPACT Platform, added, “Accel-KKR has built an exceptional, diversified investment platform over multiple decades. We very much look forward to working with Tom, Rob, and the rest of the Accel-KKR team.”

Specific terms of the transaction are not being disclosed.

About Accel-KKR
Accel-KKR is a technology-focused investment firm with $21 billion in cumulative capital commitments.  The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth.  At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its partner companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network.  Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, secondaries, and credit alternatives.  Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions.  Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City.  For more, visit accel-kkr.com.

About PACT Capital Partners
PACT Capital is an independent investment firm focused on providing capital and strategic support to middle-market alternative asset management firms. PACT seeks to partner with high-performing established and emerging private capital firms and help them to achieve their strategic objectives.  Headquartered in New York, PACT utilizes its proprietary imPACT platform to assist partner firms in accelerating capital formation, designing and launching new products, improving operations, attracting and retaining talent, leveraging cutting-edge technology, and improving outcomes for underlying portfolio companies. For more information, please visit https://www.pactcapitalpartners.com/.

The views and opinions expressed are those of the speakers and do not necessarily reflect those of AKKR or its affiliates (“AKKR”)

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TINC successfully completes capital increase of 113 million EUR

GIMV

Manu Vandenbulcke, CEO, and Filip Audenaert, CFO
“We are pleased with the result of this rights issue and like to thank our existing and new shareholders for their support and trust. With this fourth capital raising since the IPO in 2015, TINC has raised in total circa EUR 500 million on Euronext Brussels. Once again we will use these extra funds to invest in future oriented infrastructure and shape our ambition to double the investment portfolio.” – Manu Vandenbulcke, CEO TINC and Filip Audenaert, CFO TINC

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Audax Private Equity Announces Sale of CW Advisors

Audax Group

BOSTON & SAN FRANCISCO, June 17, 2025 — Audax Private Equity (“Audax” or “the firm”), a capital partner for middle and lower middle market companies, announced today it has agreed to the sale of CW Advisors, LLC (“CWA”), a registered investment advisor (RIA) managing $13.5 billion in fee-only client assets. Osaic, Inc. (“Osaic”), a portfolio company of Reverence Capital Partners, is acquiring CWA. Terms of the deal are not disclosed. The transaction is expected to close in the third quarter subject to customary closing conditions.

Headquartered in Boston with 17 offices across the country and over 140 employees, CW Advisors (FKA: Congress Wealth Management, LLC) serves high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients, offering core wealth management and investment advisory services. During Audax Private Equity’s roughly two-year hold, CWA saw its assets under management more than double through a combination of organic and inorganic growth.

Osaic is one of the nation’s largest providers of wealth management solutions and is acquiring CWA to build scale in its fee-only channel. CW Advisors will retain its brand, management team, and client service model as an independent RIA. Existing employee shareholders will retain a meaningful equity stake, and the transaction includes continued equity participation from Audax.

“When we first invested in CW Advisors, we were drawn to the strength of the firm’s management team, its track record of AUM and revenue growth, and the opportunity to leverage our Buy & Build model to help the team capitalize on the opportunity set in front of the business,” noted Bill Allen, a Managing Director at Audax and Head of the firm’s Financial Services specialization.

“The pace and volume of growth have exceeded even our own expectations, which traces back to the sense of partnership between Audax and the entire CWA team,” added Jay Petricone, a Managing Director at Audax and member of the firm’s Financial Services vertical.

Since July of 2023, CW Advisors completed 10 acquisitions that helped to expand its geographic footprint and suite of services. The M&A activity complemented strategic initiatives to invest in CWA’s family office business, in addition to corporate investments in CWA’s IT infrastructure, Office of the CFO, and marketing efforts to help scale the organization and accelerate organic growth.

“Audax clearly understands ‘people’ businesses and recognizes the importance of investing in the team and aligning interests to set the stage for accelerated growth,” noted Scott Dell’Orfano, Chief Executive Officer of CWA. “Audax was a collaborative and constructive partner. They demonstrated an intimate understanding of the wealth management space and helped us pursue a thoughtful approach to growth that helped position CWA as an acquirer and partner of choice.”

“Following the sale of Stout, also announced in June, the realization of CWA marks the second exit out of our Financial Services specialization, which we launched in 2021,” noted Adam Abramson, a Partner at Audax. “A common thread between the two investments is that we sought to work with exceptional management teams, we trusted and supported their visions for growth, and we believe both represent tremendous outcomes for management, the firms, Audax, and our investors.”

Including the announced deals for CWA and Stout, Audax, as of June 13th, has secured eight realizations across its Flagship and Origins strategies over the previous 12 months.

Ardea Partners LP served as lead advisor to CWA on the sale and Houlihan Lokey also served as an advisor, while Kirkland & Ellis LLP and Winston & Strawn LLP provided legal counsel.

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ABOUT AUDAX PRIVATE EQUITY:
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EQT-backed Enity, a leading Nordic specialist mortgage provider, goes public on Nasdaq Stockholm

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Enity Group

  • Enity Holding AB (publ), the largest specialist mortgage provider in Sweden, Norway, and Finland, began trading on Nasdaq Stockholm on 13 June 2025. 
  • The offering, which was priced at SEK 57 per share, was oversubscribed more than ten times. The share price closed today, on 17 June 2025, at SEK 71.88 per share, implying a market capitalization of SEK 3.6 billion. 
  • As part of the offering, the main shareholder (indirectly controlled by EQT (as defined below)) sold shares totaling approximately SEK 1.7 billion (assuming full exercise of the over-allotment option). This will result in aggregate gross proceeds of c. SEK 1.2 billion to EQT (assuming full exercise of the over-allotment option).

EQT is pleased to announce that EQT VII (or “EQT”) portfolio company Enity Holding AB (publ) (“Enity” or the “Company”), the largest specialist mortgage provider in Sweden, Norway, and Finland, began trading on Nasdaq Stockholm on 13 June 2025. As part of the offering, the main shareholder, indirectly controlled by EQT, sold shares totaling approximately SEK 1.7 billion (assuming full exercise of the overallotment option). 

The offering, which was priced at SEK 57 per share, attracted very strong interest from Swedish and international institutional investors as well as the general public in Sweden and Finland, and was oversubscribed more than ten times. As a result of the offering, Enity has more than 25,000 shareholders. The share price closed today, on 17 June 2025, at SEK 71.88 per share, implying a market capitalization of SEK 3.6 billion. 

EQT acquired Enity, then known as Bluestep Bank, in November 2017. During EQT’s ownership, Enity has been transformed into a modern, inclusive, pure-play specialist mortgage provider, enabling people who are not always well-served by the high-street banks to own their home and refinance their unsecured debt. Enity has expanded organically into new geographies, including Finland, and completed the strategic acquisitions of Bank2 and Eiendomsfinans in 2023 and 2025, respectively, strengthening Enity’s position in Norway. Further, the Company has expanded its mortgage-focused portfolio with an equity release product and included savings accounts as a part of its product offering. 

With EQT’s support, Enity has also made significant investments into developing a modern, scalable, cloud-based operating model to become a truly digital specialist mortgage bank, whilst maintaining its low-risk assets and underwriting skills and forging a path of stable and profitable growth. Today, Enity is a profitable market leader based on the size of its mortgage loan portfolio, with lending to the public of SEK 29.3 billion as of 31 March 2025, in a steadily growing market. 

Vesa Koskinen, Partner in the EQT Private Equity advisory team, commented: “The listing is a natural next step in Enity’s journey and reflects the strength of its business model, technology platform, and its ability to continue creating long-term value through responsible growth and inclusive lending.”

Contact
EQT Press Office, press@eqtpartners.com

Important notice
This press release does not constitute (i) an offer to sell or a solicitation of an offer to buy any securities of Enity or any of its affiliates; or (ii) an offer of securities for sale in the United States or elsewhere. Securities may not be offered or sold in the United States absent registration with the United States Securities and Exchange Commission or an applicable exemption from registration. There will be no public offering of any of the securities mentioned in this press release in the United States.

This press release is for informational purposes only and does not constitute investment advice or a recommendation or invitation to buy or sell any securities. Any investment decision should be based solely on the terms and conditions outlined in the relevant offering documents. Investors should consult their own advisors prior to making any investment decision.

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About EQT
EQT is a purpose-driven global investment organization with EUR 273 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2025, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
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About Enity
Enity is a specialist mortgage provider operating in the Nordic region, creating innovative and inclusive mortgage solutions for approximately 33,000 customers across Sweden, Norway and Finland. Enity commenced operations in 2005, with a mission to provide sustainable access to the housing market for the underpenetrated, high-growth segment of borrowers not always well-served by high-street banks, despite low risk and strong potential. 

More info: https://www.enity.com/en/

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