KKR Leads Financing For Clarience Technologies’ Acquisition Of Safe Fleet

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that it served as Lead Arranger, Administrative Agent, and investor on a debt financing for Clarience Technologies’ Acquisition of Safe Fleet. KKR invested in the transaction through its credit vehicles and accounts. KKR Capital Markets acted as Left Lead Arranger and Joint Bookrunner on the transaction.

Clarience Technologies is a global provider of visibility and safety technologies for transportation, including vehicle lighting, audible warning systems, telematics solutions and tire monitoring and inflation systems. With the Safe Fleet acquisition, Clarience Technologies adds a comprehensive set of complementary fleet safety solutions including video and evidence management, collision prevention, violation detection and trailer temperature control, as well as cargo storage systems, fire-fighting technologies, and other solutions. The acquisition opens cross-selling opportunities to common customer segments, accelerates technology innovation and ultimately enables Clarience Technologies to deliver better value to its customers.

KKR’s credit vehicles and accounts have been investors in both Safe Fleet and Clarience since 2018 and 2019, respectively.

“This transaction demonstrates how the scale and unique capabilities of our platform benefit the issuers with whom we work. Our long-standing investments in both companies allowed us to move quickly and with conviction to seamlessly deliver a scaled solution for Clarience Technologies and its sponsor, Genstar Capital,” said George Mueller, a Partner at KKR. “We look forward to supporting Clarience, Safe Fleet and Genstar teams as they capitalize on opportunities ahead.”

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.KKR.com For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Clarience Technologies:

Clarience Technologies is the global leader of visibility and safety technologies for transportation. Born from a collection of premium brands each with a long track record of innovation, its solutions include vehicle lighting, camera and vision systems, telematics and safety solutions that protect our world and our livelihoods by keeping people, assets and businesses safe, secure and productive. Its team of companies includes Truck-Lite, DAVCO, Road Ready, RIGID, Lumitec, ECCO, Code 3, Fleetilla, LED Autolamps, Pressure Systems International and Safe Fleet. For more information, visit www.clariencetechnologies.com.

KKR
Julia Kosygina
+1 212-750-8300
Media@kkr.com

Source: KKR

 

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Fronnt further expands and strengthens its offering through the acquisition of Bovema International

GIMV

Antwerp/Olen 5 February 2024 – Fronnt, an innovative alliance of installation companies founded in July 2022 in cooperation with investment companies Gimv and Tilleghem, has acquired another leading specialist.
Following the entry of Bovema International as the newest Fronnt member, the group consists of 14 companies and 485 employees. This steadily builds on an integrated multi-technical installation group, uniquely positioned to support organisations in the energy transition.

Today, this energy transition is in a crucial phase where the installation engineering and automation sector is becoming increasingly complex. Fronnt has extensive knowledge and know-how, which enables it to offer integrated solutions and fully unburden its customers. Bovema International’s entry into the group strengthens its offering in the field of innovative refrigeration.

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AME and Variass join forces by establishing Metis Group

GIMV

Establishing Metis Group marks a new step in the international buy-and-build strategy.

Eindhoven, 9 January 2024 – Variass, AME, and Gimv are delighted to announce the establishment of Metis Group, effective as of today, January 9, 2024. Metis Group is a group of electronics companies that provide Development, Manufacturing and Product Life Cycle Management services to customers. Metis Group aims to facilitate collaboration among its subsidiary companies by sharing best practices and optimizing production and development capabilities, thereby maximizing value for its customer base.

The step to establish the Metis Group is a logical one after the acquisition of a majority stake in AME in 2020 and Variass in 2022 by Gimv, a leading European investment company.

Metis Group: Together towards tomorrow
Metis Group’s companies are partnering with customers to develop and manufacture the innovations of tomorrow. With a combined revenue of well over EUR 100M+ and a strong and committed workforce of 450+ employees across multiple locations including Eindhoven, Veendam and Drachten in the Netherlands, Metis Group is ready to accelerate high-tech solutions together with its partners.

Metis Group is committed to positioning itself as a premier technology manufacturer in various segments of the industry, health, safety, energy, and climate markets. The goal is to significantly expand in the next years through both organic growth as well as strategic acquisitions. The subsidiaries under Metis Group will maintain their unique business operations while collaborating to launch new services, exchange best practices, and drive forward their collective ambition: Together towards tomorrow.

Leadership and Governance
Reinier Beltman will lead the Metis Group and will also continue his current CEO-role at AME. As a former CEO of Ampleon, Reinier has ample experience in realizing growth in a high-tech environment by continuously striving to maximize customer value. He will be complemented by Ronald Diederiks as CFO. They will be working closely together with the management teams of Variass and AME. The supervisory board is comprised of Henk Smid (founder and former CEO of Variass), Boris Wirtz and Tom Van de Voorde (both from Gimv). This seasoned leadership team is committed to steering Metis Group towards a future marked by innovation, market leadership, and to being an attractive employer with a high level of employee engagement.

Reinier Beltman, CEO of Metis Group, remarks “joining forces will accelerate our growth path and strengthen the partnerships with customers of each Metis Group company”.

Boris Wirtz, chairman of the supervisory board, added “the establishment of Metis Group as a platform for further buy-and-build marks a significant milestone in our journey. It reflects our shared commitment to excellence, innovation, and growth. As a Supervisory Board, we are excited to support a vision that not only propels our companies forward but also contributes significantly to the ‘smart industries sector’ we operate in”.

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Latour acquires BS Tableau GmbH

Latour logo

Investment AB Latour (publ) has, through its wholly-owned subsidiary Latour Industries AB, acquired 100 per cent of the shares in BS Tableau GmbH, based in Zülpich, Germany.

BS Tableau is a German leading manufacturer of components for elevators. The company, founded in 1995, manufactures and sells bespoke fixtures for elevator cabins and a broad range of electronic components to lift operators and OEMs, mostly targeting modernization projects. Net sales amounts to approximately EUR 6 m, of which the majority is sold in the German market. The company has 40 employees.

“We are very happy to welcome BS Tableau to Latour Industries. The company offers high-quality products, has long-standing customer relationships, and is a strong addition to our portfolio of companies in the same sector. We look forward to collaborating with all employees and to growing and developing the company further”, says Björn Lenander, CEO Latour Industries.

“I am confident that the company will benefit from Latour’s industrial experience, long-term orientation, and responsible ownership model. I am certain that this will benefit our customers and employees”, says Rainer Bunk, CEO and co-founder of BS Tableau.

As an effect of the acquisition the net debt (excl. IFRS 16) of the Latour Group increases to almost SEK 11.8 billion compared to the net debt level at the end of September 2023, all else equal.

Göteborg, 9 January, 2024

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Björn Lenander, CEO Latour Industries AB, +46 708 19 47 36
Niclas Nylund, Investment Director Latour, +46 708 17 35 85

Latour Industries consists of a number of holdings, each with its own business concept and business model. The ambition is to develop the holdings within the business area to eventually become new independent business areas within the Latour Group. Latour Industries has an aggregated annual turnover of SEK 4 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 76 billion. The wholly-owned industrial operations has an annual turnover of SEK 26 billion.

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Egeria announces the sale of Wentus to Trioworld

Egeria

Egeria Group (“Egeria”) has reached a definitive agreement to sell Wentus GmbH (“Wentus”), a leading player in solutions for high performance food-, consumer- and hygiene packaging to global packaging firm Trioworld Group (“Trioworld”). Wentus was part of the Clondalkin Group.

Headquartered in Hoexter, Wentus is a European manufacturer of plastic films for flexible packaging applications with a focus on food. The company is a top-tier supplier of high-tech skin film solutions serving a global blue-chip customer base.

Christof Renz, CEO of Wentus: “We are very pleased to have found a partner in Trioworld that is a perfect fit for us and whose product portfolio is ideally complemented by Wentus. We are looking forward to working with a professional and ambitious team whose management culture suits us well. I would also like to use the opportunity to thank Egeria for the intensive and trusting cooperation as well as the great support over the past years.”

Nicolas de Nerée, Partner at Egeria: “Over the past years, Wentus developed into an innovative film manufacturer focused on sustainability in the food segment. Trioworld is the ideal partner to further strengthen Wentus’ international market position and lever its strong product expertise in Skin film.”

Andreas Malmberg, CEO of the Trioworld Group: “We are very pleased and excited to welcome Wentus into the Trioworld Group. The acquisition will give us the opportunity to grow an even stronger position in the market of advanced food-, consumer- and hygiene packaging, in Europe and in North America. Wentus has a proven track record of supplying the market with premium products and superior support, to maximize value for customers.”

The transaction is subject to customary regulatory requirements and approvals. The Trioworld Group will, after the transaction is completed, own 100% of the shares.

About Egeria
Egeria is an independent pan-European investment company founded in 1997, which focuses on medium-sized companies. Egeria invests in healthy companies with an enterprise value between EUR 50 million and EUR 350 million. Egeria believes in building great businesses together with entrepreneurial management teams (Boldly Building Together). Egeria Private Equity Funds hold investments in 16 companies, Egeria Evergreen has investments in 7 companies. Egeria’s portfolio companies have a combined turnover of c. EUR 2.5 billion and employ close to 13,000 people. In 2018, Egeria has launched EgeriaDO, a corporate giving program sponsoring projects in the fields of the arts, culture, and social objectives.

About Wentus
Wentus GmbH, the specialist for high-tech skin films and an extensive and innovative product portfolio based in Hoexter, has been developing and producing sustainable and easily recyclable packaging solutions since 1965. Around 230 employees, a flat hierarchy and a complete in-house production chain enable the rapid development of customized solutions for various requirements. With its own sales structure, strong sales partners, and representatives in the DACH region, Benelux and south-west Europe, Wentus supports customers locally and thus guarantees the highest level of customer orientation and the best service.

About the Trioworld Group
Trioworld was founded in 1965 and since 2018 under the ownership of Altor Fund IV. Altor is one of the leading Nordic Private Equity firms, focused on building world class companies. Driven by continuous development of innovative and sustainable plastic film products, Trioworld is one of the leaders in the segment, with a turnover of 900 million EUR and approximately 1.700 employees. The group´s head office is in Smålandsstenar, Sweden, with production and recycling sites in Sweden, Denmark, the Netherlands, France, the United Kingdom, and Canada. Products and solutions are sold around the world.

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Ferd chosen as partner in underwater technology company General Oceans

Ferd

Nortek constitutes the largest part of General Oceans and was founded in 1996 by Atle Lohrmann. The company is based at Rud in Bærum and develops acoustic sensors to measure water movements, such as ocean currents and waves, for the navigation of underwater vehicles and various measuring instruments. The systems are distributed to over 90 countries worldwide, including for sustainable resource utilisation, monitoring of climate change, and the maritime and defence industries. The company has, for a long time, delivered solid financial results by continuously introducing new functional systems and maintaining long-term customer relationships.

Apart from Nortek, General Oceans comprises the companies Tritech, Klein Marine, Reach Robotics, and Strategic Robotic Systems (SRS). The first two provide various types of sonars, Reach Robotics delivers gripping systems for underwater robots, and SRS develops the next generation of underwater vehicles. Together, General Oceans forms a consortium that is well-positioned to exploit market opportunities within ocean technology.

Ferd is pleased to be chosen as partner and looks forward to further developing the company alongside the principal shareholder and CEO Atle Lohrmann, as well as the rest of General Oceans. The potential of marine technology intrigues us, and we believe there will be a high demand for products that assist in understanding what happens beneath the sea surface.

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EQT Private Equity to acquire Zeus, a global leader in advanced polymer components used in life-saving medical procedures

eqt
  • EQT Private Equity to acquire Zeus, a leading supplier of custom polymer components to the world’s most innovative medical device and industrial companies
  • Transaction highlights EQT’s commitment to partnering with leading, purpose-driven companies that deliver inherently critical services to society. Zeus uses its material science expertise to develop advanced components for medical devices used in minimally invasive, life-saving procedures
  • EQT will support Zeus through investments in additional production capacity, R&D, and operational excellence

The EQT X fund (“EQT”) and Zeus Company, Inc., today jointly announced that they have entered into an agreement for EQT to acquire Zeus Company Inc (“Zeus” or the “Company”) from the Tourville family. Founded in 1966, Zeus is a pioneer in the design, development, and extrusion of fluoropolymer tubing for medical devices and select industrial applications. EQT also announced that John Groetelaars, former CEO of Hillrom and EQT Industrial Advisor, will serve as Zeus’ Executive Chairman upon closing of the transaction.

For more than 50 years, Zeus has delivered innovative and mission-critical components that improve the efficacy and performance of highly complex catheters, which are used in life saving, minimally invasive medical procedures, among other applications. The Company is headquartered in Orangeburg, South Carolina, with eight facilities across the United States and one in Letterkenny, Ireland. Zeus employs approximately 2,400 people globally and serves over 300 customers in more than 100 countries, including leading medical device manufacturers, contract device manufacturing organizations, academic institutions, and industrial customers across aerospace, semiconductors, and automotive, among other industries.

Zeus’ components enable the delivery of minimally invasive interventional procedures, which drive significantly better health outcomes than traditional open surgeries, including faster patient recovery and reduced pain, at lower cost. Zeus has experienced substantial growth as a leading innovator in polymer-based solutions. As populations age and chronic conditions become more prevalent, increasing demand for precision, high-performance catheters to support therapeutic areas including structural heart, peripheral and neurovascular interventions, is expected to continue fueling Zeus’ growth.

EQT will support Zeus with investments in additional capacity, R&D, and operational excellence, to support the rapidly growing medical fields that leverage minimally invasive technologies. These investments will enable the Company to continue its legacy and reputation of partnering with its clients’ research and development groups to remain at the forefront of next generation technologies.

Ethan Waxman, Partner within EQT Private Equity’s Advisory Team, said: “EQT has tracked the medical device component industry closely for several years, and we believe Zeus is uniquely positioned within the end markets it serves due to its unmatched material science and process expertise. We are excited to partner with the Company and invest in its next phase of growth, its employees, and the communities it serves, while maintaining Frank Tourville Sr.’s values and commitment to excellence, which are shared by EQT.”

Steve Peterson, President and CEO of Zeus, added: “We are excited to join the EQT family. Zeus has gained significant momentum in recent years due to a strategic global expansion plan. This acquisition accelerates that momentum and growth by supporting future expansion, new product innovation, process improvements, technological transformation, and enhanced capabilities.”

John Groetelaars said: “I am thrilled to embark on this journey with Zeus and EQT to build upon the Company’s impressive legacy and best-in-class, differentiated product portfolio. We are committed to strengthening the partnerships with the customers that Zeus serves and expanding capacity through investments, operational upgrades, and growth from new product innovations. In the near-term, we intend to expand facilities and add personnel to increase production on behalf of our customers, and we’re excited to maintain our status as a key employer in the communities where we operate.”

“As one of the world’s leading healthcare investors, EQT invests in innovative companies that are addressing some of the most significant challenges in healthcare today, ranging from life science startups to scaled global businesses,” said Eric Liu, Partner, Head of North American Private Equity and Co-Head of Global Healthcare. “This acquisition represents a highly thematic investment for EQT, given our longtime focus on the medical technology industry and our experience partnering with family-founded businesses. With EQT’s deep expertise and broad network of advisors in the healthcare sector, we look forward to continuing our track record of creating differentiated value for all stakeholders.”

The transaction is expected to close in Q1 2024, subject to regulatory approvals and customary closing conditions.

Piper Sandler Companies acted as financial advisor to EQT Private Equity and Simpson Thacher & Bartlett LLP provided legal counsel. Goldman Sachs & Co. LLC acted as financial advisor to Zeus and Freshfields Bruckhaus Deringer LLP provided legal counsel. The Private Credit business within Goldman Sachs Asset Management will serve as the Administrative Agent and lead lender in the Senior Secured financing to support the transaction.

With this transaction, EQT X (target fund size of EUR 20.0 billion and a hard cap of EUR 21.5 billion) is expected to be 25-30 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on its target fund size.

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT X will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

Contact
EQT: Mathilde Milch, Director, Communications, Mathilde.milch@eqtpartners.com, +1 917 510 6626
Zeus: Jennifer McQuesten, VP of Corporate Communications, jmcquesten@zeusinc.com, +1 480 200 5488

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 128 billion in fee-generating assets under management), 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
Follow EQT on LinkedIn, X, YouTube and Instagram

About Zeus
Zeus, headquartered in Orangeburg, South Carolina, is the world’s leading polymer extrusion and catheter design manufacturer. With over 55 years of experience in medical, aerospace, energy, automotive, fiber optics, and other leading industries, Zeus’ mission is to provide solutions, enable innovation, and enhance lives. The company employs over 2,400 people worldwide with facilities in Aiken, Columbia, Gaston, Orangeburg, and St. Matthews, South Carolina; Branchburg, New Jersey; Chattanooga, Tennessee; San Jose, California; Arden Hills, Minnesota; Guangzhou, China; and Letterkenny, Ireland. For more information, visit www.zeusinc.com.

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WEMAS partners with Sekisui Jushi Corporation (“SJC”) to pursue further expansion after growth journey alongside Gimv and Paragon Partners

GIMV

Gimv, Paragon Partners (“Paragon”) and its minority investors are to sell 100% in WEMAS to Sekisui Jushi Corporation.

WEMAS (www.wemas.de) was established in 1971 and has grown into a full-range supplier of certified passive traffic safety products. The company is based in Gütersloh and employs more than 130 employees at two sites in Germany.

Under Gimv’s and Paragon’s ownership, WEMAS has strengthened its market leading position in traffic safety technology by making significant investments in product innovation, production automation and capacity expansion. As a result, the company has been able to launch new products and broaden its customer base, allowing it to accelerate growth both in Germany and abroad.

Maja Markovic and Ruben Monballieu, both Partner Sustainable Cities at Gimv, say: “WEMAS is a European market leader with an innovative product range and state-of-the-art production in Germany. We are proud of the company’s international growth during our holding period.

Dr. Edin Hadzic, Founding Partner at Paragon Partners, adds: “We would like to thank the management team at WEMAS for their commitment and drive in executing this successful growth story.

Dirk Gößling, CEO at WEMAS, concludes: “The management team is looking forward to continuing to offer innovative and market-leading solutions to our customers. In doing so, we will benefit from the complementary expertise and geographic presence of our new owner SJC.

Paragon and Gimv were supported throughout the transaction by Alvarez & Marsal (financial), Reed Smith (legal), KPMG (tax) and William Blair (M&A).

The transaction has no significant impact on the Net Asset Value of Gimv as of 30 September 2023. Over the entire holding period Gimv realizes a return in line with the long-term portfolio return target. No further financial details will be disclosed.

 

Read the full document

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Bencis sells majority stake in Kooi to IK Partners

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Bencis

Amsterdam – Monday, 04 December 2023

Bencis is pleased to announce that it has signed an agreement to sell a majority stake in Kooi European Mobile Security Solutions B.V. (“Kooi” or “the Company”) to IK Partners (“IK”). Kooi is a fast-growing pan-European provider of temporary camera surveillance (“TVS”) and rising early-detection (“RED”) solutions. IK is acquiring a majority stake from Bencis Buyout FUnd V (“Bencis”), founder Pieter Kooi and the management team, who will all reinvest. Financial terms of the transaction are not disclosed.

Headquartered in Drachten, the Netherlands, Kooi is a leading provider of TVS and RED solutions, including a range of Units for Observations (“UFOs”), serving various end markets across Europe. The Company provides an end-to-end service from technical advice, delivery, installation and 24/7 monitoring through its own Kooi Alarm Centres.

At present, Kooi has more than 200 employees who serve a growing customer base in 23 countries. The Company has a sizeable presence in the Benelux, DACH, France and the Nordics with a track record of successfully expanding into new geographies. In recent years, the Company has also successfully introduced its UFO offering to sectors including Construction and Infrastructure.
Additionally, Kooi benefits from its unique and strong heritage in Renewables.

With Pieter Kooi’s involvement and the backing of Bencis since June 2018, the current management team, along with its strong staff, has successfully steered Kooi through robust growth, effectively expanding and enhancing its operational capabilities.

In partnership with IK, Kooi plans to: further realise benefits of scale; penetrate the growing TVS and RED markets; establish additional local teams; andexpand internationally into underserved markets.

Completion of the transaction is subject to legal and regulatory approvals.

Peter Schollmann, CEO of Kooi, stated: “We would like to thank Bencis for all their support over the past five years, which has provided us with a solid foundation for future growth. Kooi’s success comes
from our people and culture; something I am very GRUTSK (proud) of!”

Pieter Kooi, Founder of Kooi, added: “We look forward to the next chapter and realising our ambitious plans to accelerate growth of the Company across Europe. We are confident that with the support of IK, we can retain our autonomous, market-leading position and successfully penetrate a host of underserved European markets.”

Remko Hilhorst, Managing Partner at IK and Advisor to the IK X Fund, said: “We have been impressed with Kooi’s track record to date and its ability to continuously evolve its offering to meet the
needs of its customers. It has a well-established presence in the TVS market with further growth potential which can be unlocked in the years to come, particularly in those European markets where IK
itself has a recognised footprint. With this solid foundation in place, we look forward to collaborating with Peter and the team to develop the Company further.”

Robert Falk, Partner at Bencis, added: “Today marks a pivotal moment with the successful exit of Kooi. During our partnership since 2018, Kooi has seen an exceptional growth trajectory, thanks to the
excellent collaboration with Pieter Kooi and the management team. Our journey with Kooi is a testament to a strong strategic partnership and visionary entrepreneurship resulting in an outstanding outcome. We are convinced that IK is the right partner for Kooi to further accelerate its growth and we are confident that Kooi will continue to play its market-leading role. We are proud to have been and continue to be part of this journey and are excited for what the future holds for Kooi.”

About IK Partners
IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in
over 180 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit http://www.ikpartners.com

About Kooi
Kooi offers mobile video surveillance and incident response to secure the sites of its customers 24/7. The company has a leading position in the construction, infrastructure, renewables and waste management sectors across Europe. Kooi offers a range of systems with varying specifications, enabling them to secure different types of sites. For more information, visit https://247kooi.com/

About Bencis Capital Partners
Bencis is an independent investment company that supports business owners and management teams in achieving their growth ambitions. Working out of offices in Amsterdam, Brussels and Düsseldorf,
Bencis has been investing in strong and successful businesses in the Netherlands, Belgium and Germany since 1999. For more information, visit https://www.bencis.com/nl

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Polaris Electro-Optics, Inc. Raises Seed Round to Revolutionize Optical Interconnects

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M Ventures

Polaris Electro-Optics, Inc., a Colorado-based company, announced the successful completion of its over-subscribed Seed financing round, resulting in an investment of $3M. Polaris leverages patented material and design innovations to offer the highest speed, most energy efficient integrated photonics products to the communications and computing industries.

BROOMFIELD, Colo., Dec. 4, 2023 /PRNewswire-PRWeb/ — Polaris Electro-Optics, Inc., a Colorado-based company, announced the successful completion of its over-subscribed Seed financing round, resulting in an investment of $3M. Polaris leverages patented material and design innovations to offer the highest speed, most energy efficient integrated photonics products to the communications and computing industries. The funding round was led by Rhapsody Venture Partners and garnered support from new investor Buff Gold Ventures as well as pre-seed investor, M Ventures. As part of this milestone, Bernard Lupien of Rhapsody Venture Partners will join Polaris’ Board of Directors.

Jason Sickler, CEO of Polaris, emphasized the significance of this financing round, stating, “The addition of Rhapsody and Buff Gold Ventures as shareholders, along with the unwavering support from M Ventures, underscores the vast potential of our platform technology to revolutionize the communications and computation sectors. To meet the ever-growing demands of these markets, we must deliver unparalleled speed, exceptional energy efficiency, cost-effectiveness, and stability. In all respects, Polaris’s technology stands unrivaled.”

Bernard Lupien, General Partner at Rhapsody Venture Partners, underlined the remarkable potential of Polaris’s platform, stating, “We’ve conducted thorough assessments of various technologies aimed at continually enhancing the speed and efficiency of optical communications.

 

We believe that Polaris’s platform has the most promising potential for solving the acute data transfer bottlenecks that the industry is facing.

Bernard Lupien, Rhapsody Venture Partners

This funding will be strategically allocated towards advancing material and design innovation. It will further enable Polaris Electro-Optics to showcase high-speed, high-efficiency devices designed for optical interconnect systems, reaffirming their commitment to transforming the optical technology landscape.”

 

Our excitement for Polaris Electro-Optics’ potential to deliver a step-function change to the silicon photonics roadmap has only increased since our pre-Seed investment, and we are more than glad to double down with our Seed round investment.

Daniel Franke, Investment Director at M Ventures and Board Director in the company

Through our existing investments in the photonics, optics, and high-performance compute sectors, we recognize an unmet and rapidly growing need for a next generation of electro-optic modulators. We believe that Polaris’ technology platform will be integral to enable the anticipated fundamental trends in high-performance compute, such as the shift towards datacenter disaggregation,

adds Tobias Egle, Board Observer and Analyst at M Ventures.

“Next to the intrinsic advantages in modulation physics, we see the clear route towards mass-manufacturability and back-end integration with existing fabrications processes as a major differentiator.”

“We are delighted to join the collaborative team of investors supporting Polaris Electro-Optics. The disruptive intellectual property licensed from the University of Colorado, combined with a strong team of experienced founders and technologists, gives Polaris a solid foundation for quick innovation and early traction,” noted Sally Hatcher, Managing Partner of Buff Gold Ventures.

About Polaris Electro-Optics, Inc.

At Polaris Electro-Optics, Inc., we believe that overcoming society’s greatest challenges requires mastery of the creation, movement, and use of information. We are mastering the movement of information by leveraging patented material and design innovations to offer the highest-speed, most energy efficient integrated photonics products to the communications and computation industries. Our goal is to define the standard for moving information. We work hard in a collaborative, cross-functional team environment, and value mutual trust and respect built on a foundation of integrity, transparency, consistency, and humility. Additional information about Polaris is available at www.PolarisEO.com.

About Rhapsody Venture Partners

Rhapsody Venture Partners is a venture firm in Cambridge, MA, that funds early-stage applied science and engineering companies. Rhapsody’s team works side-by-side with entrepreneurs to secure anchor customers that reduce time-to-commercialization and accelerate growth. www.RhapsodyVP.com

About M Ventures

M Ventures is the strategic, corporate venture capital arm of Merck KGaA, Darmstadt, Germany. From its headquarters in the Netherlands and offices in Germany, USA and Israel, M Ventures invests globally in transformational ideas driven by innovative entrepreneurs. Taking an active role in its portfolio companies, M Ventures teams up with management teams and co-investors to translate scientific discoveries into commercial success. M Ventures focuses on identifying and financing novel solutions to some of the most difficult challenges, through company creation and equity investments in fields that will impact the vitality and sustainability of Merck KGaA, Darmstadt, Germany’s current and future businesses. www.M-Ventures.com

About Buff Gold Ventures

Buff Gold Ventures is a venture capital firm dedicated to investing in and supporting innovative startups affiliated with the University of Colorado Boulder. Our mission is to accelerate the development of disruptive technologies that address global challenges while fostering the growth of the next generation of entrepreneurs and venture capitalists. We invest in technology and the diverse teams solving some of the world’s most pressing problems. www.BuffGoldVentures.com.

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