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GRIN Therapeutics and Angelini Pharma Enter into Exclusive Collaboration to Develop and Commercialize Radiprodil Outside North America

Blackstone

GRIN also announces closing of $140 million Series D financing, including a $65 million strategic equity investment from Angelini Pharma and $75 million from existing investor Blackstone Life Sciences

Collaboration combines Angelini Pharma’s global reach and focus on complex neurological disorders with GRIN’s expertise and capabilities in developing and advancing precision therapeutics for neurodevelopmental disorders

Under terms of the collaboration, GRIN is to receive $50 million upfront, and is eligible to receive up to $520 million in milestones and tiered royalties in addition to shared development costs

GRIN will continue to lead global development and retains exclusive rights for radiprodil in the United States, Canada, and Mexico

Funding from both transactions will support ongoing operations including planned global pivotal Phase 3 trial for radiprodil in the treatment of GRIN-related neurodevelopmental disorder in 3Q 2025

NEW YORK, NY, and ROME, ITALY –  May 27, 2025 – GRIN Therapeutics, Inc., a leader in the development of therapies to treat serious neurodevelopmental disorders, and Angelini Pharma, part of the privately owned Angelini Industries, today announced a collaboration for the development and commercial rights outside of North America of GRIN Therapeutic’s investigational drug radiprodil, currently being studied in multiple rare genetic epilepsies and neurodevelopmental disorders.

GRIN Therapeutics also announced the closing of its $140 million Series D financing with investment by Angelini Pharma and Blackstone Life Sciences. Together, the two transactions highlight a significant total near-term commitment of $115 million from Angelini Pharma, which includes a $65 million strategic equity investment and a $50 million upfront payment related to the collaboration. Existing GRIN Therapeutics investor Blackstone Life Sciences contributed $75 million to the Series D financing round. Jacopo Andreose, PhD, CEO of Angelini Pharma, will join GRIN’s Board of Directors.

“We are very pleased to close this financing round and to welcome Angelini Pharma—an ideal partner whose engagement reflects the significant value we’ve built around the radiprodil program in a relatively short period,” said Bruce Leuchter, MD, President & CEO of Neurvati Neurosciences and GRIN Therapeutics. “This strategic collaboration marks an important point of validation for GRIN Therapeutics, the clinical data generated to date, and the potential of radiprodil as the first approved treatment for patients with GRIN-related neurodevelopmental disorder (GRIN-NDD)—a population with urgent unmet need. We are also deeply grateful for the continued support and commitment of Blackstone Life Sciences, whose partnership has been instrumental in advancing our efforts. With this momentum, we are well-positioned to move radiprodil into pivotal trials and take an important step toward delivering a novel therapeutic option to patients and families.”

“Our strategic collaboration with GRIN Therapeutics, including our participation in this Series D financing and in-licensing deal for radiprodil, reflects our dedication to advancing highly innovative treatments in brain health, building on our deep therapeutic expertise in neurology and psychiatry” said Jacopo Andreose, PhD, CEO of Angelini Pharma. “We see radiprodil as an opportunity to address the substantial unmet medical need of people living with GRIN-NDD and potentially other rare pediatric neurological diseases. We look forward to working closely with the team at GRIN Therapeutics to help bring this promising therapy to patients around the world.”

“Angelini Pharma is a leading international pharmaceutical company and we are thrilled to have their backing, partnership and commitment to the further growth of GRIN Therapeutics and development of radiprodil,” said Kiran Reddy, MD, Senior Managing Director, Blackstone Life Sciences. “The team’s rapid progress with radiprodil—achieving multiple regulatory designations and advancing toward a pivotal Phase 3 trial— is very promising and today’s milestone also validates the ability of Neurvati’s model to efficiently develop high-impact neuroscience therapies.”

Radiprodil is a targeted, selective, and potent negative allosteric modulator of the GluN2B subunit of the N-methyl-D-aspartate (NMDA) receptor. NMDA receptors are crucial for synaptic transmission, cognition and seizures. Several NDDs and epilepsy syndromes are associated with either genetic mutations or overactivation of NMDA receptors.

Radiprodil has received multiple regulatory designations, including Breakthrough Therapy designation from the U.S. Food and Drug Administration (FDA) for the treatment of seizures associated with GRIN-NDD with gain-of-function (GoF) variants. Additionally, radiprodil has been granted FDA Orphan Drug designation, rare pediatric disease designation, European Medicines Agency (EMA) Priority Medicines (PRIME) designation, and a positive opinion for orphan designation from the EMA Committee for Medicinal Products for Human Use (CHMP) for the treatment of GRIN-NDD. The company remains on track to initiate a global, pivotal Phase 3 clinical trial for radiprodil in GRIN-NDD in the third quarter of 2025. Additionally, an ongoing open-label Phase 1b/2a study, known as the Astroscape trial, is evaluating radiprodil in patients with tuberous sclerosis complex (TSC) and focal cortical dysplasia (FCD) type II.

Under the terms of the agreement, GRIN Therapeutics will continue to lead global development and retain exclusive rights for radiprodil in the United States, Canada, and Mexico. Angelini Pharma will receive exclusive rights to commercialize radiprodil in the rest of the world. GRIN Therapeutics will receive an upfront payment of $50 million, and the parties will share certain clinical development costs for radiprodil. Additionally, GRIN Therapeutics may receive up to an additional $520 million based on achieving certain development, regulatory and sales milestones.  GRIN Therapeutics is also eligible to receive tiered royalties based on global sales as well as payments from any future sublicense transactions outside of Europe.

“Our strategic collaboration with Angelini Pharma shows how global partnerships can play an important role in advancing our business strategy at Neurvati, which is purpose-built to identify, advance, and unlock the potential of promising neuroscience assets through focused, mid-to-late stage development,” said Dr. Leuchter, adding, “We are also very pleased to welcome Jacopo Andreose to our Board of Directors. His deep expertise in global drug development and commercialization will be a significant advantage for us as we progress radiprodil through Phase 3 development and prepare for potential regulatory approvals worldwide.”

About Radiprodil
Radiprodil is an investigational, potent negative allosteric modulator selectively targeting the GluN2B subunit of the N-methyl-D-aspartate (NMDA) receptor, for the treatment of GRIN-related neurodevelopmental disorder (GRIN-NDD).  It has been awarded Breakthrough Therapy, Orphan Drug and Rare Pediatric Disease designations by the U.S. Food and Drug Administration as well as Priority Medicines (PRIME) designation by the European Medicines Agency (EMA) and a positive opinion for orphan designation from the EMA Committee for Medicinal Products for Human Use (CHMP). The planned global Phase 3 trial for radiprodil for GRIN-NDD will aim to evaluate the impact of a targeted treatment on core aspects of the disease, including seizures, behavioral abnormalities and functional outcomes. Radiprodil is also being developed for the treatment of tuberous sclerosis complex (TSC) and focal cortical dysplasia (FCD) type II. The Astroscape trial (ClinicalTrials.gov identifier: NCT06392009) is an ongoing, open-label Phase 1b/2a clinical trial assessing the safety, tolerability, pharmacokinetics (PK), and potential efficacy of radiprodil in patients with TSC or FCD type II.

About GRIN Therapeutics
GRIN Therapeutics is dedicated to the research and development of precision therapeutics for pediatric neurodevelopmental disorders with the goal of bringing hope to patients and caregivers. Late last year, GRIN Therapeutics reported promising topline data from a Phase 1b/2a clinical trial (the Honeycomb Trial, ClinicalTrials.gov NCT identifier: NCT05818943) evaluating radiprodil in GRIN-related neurodevelopmental disorder (GRIN-NDD) in patients with gain-of-function (GoF) variants, leading to the decision to advance to a global Phase 3 trial. The company has an additional ongoing clinical trial to evaluate radiprodil for the potential treatment of tuberous sclerosis complex (TSC) and focal cortical dysplasia (FCD) type II. GRIN Therapeutics is an affiliate of Neurvati Neurosciences, a portfolio company of Blackstone Life Sciences. For more information, please visit www.grintherapeutics.com

About Neurvati Neurosciences
Neurvati Neurosciences, a portfolio company of Blackstone Life Sciences, identifies and advances the development of high-potential drug candidates across the neuroscience landscape. Neurvati employs a collaborative model that establishes fit-for-purpose affiliate companies, aligning dedicated resources with long-term strategic capital to catalyze innovative treatment options in areas of unmet need. Neurvati’s team of experienced operators and drug developers seeks opportunities to challenge current treatment paradigms and make a difference for patients suffering from a wide range of neurological and psychiatric disorders. For more information, please visit www.neurvati.com

About Angelini Pharma
Angelini Pharma is an international pharmaceutical company, part of the privately owned multi-business Angelini Industries. The Company researches, develops and commercializes health solutions with a focus on the areas of Brain Health, including Mental Health and Epilepsy, and Consumer Health. Founded in Italy at the beginning of the 20th century, Angelini Pharma operates directly in 20 countries, employing more than 3,000 people. Its products are marketed in over 70 countries through strategic alliances with leading international pharmaceutical groups. For more information about Angelini Pharma please visit https://www.angelinipharma.com.

About Angelini Industries
Angelini Industries is a multinational industrial group founded in Ancona in 1919 by Francesco Angelini. Today, Angelini Industries represents a solid and diversified industrial reality that employs approximately 5,800 employees and operates in 21 countries around the world with revenues of over 2 billion euros, generated in the health, industrial technology, and consumer goods sectors. A targeted investment strategy for growth; constant commitment to research and development; deep knowledge of markets and business sectors, make Angelini Industries one of the Italian companies of excellence in the sectors in which it operates. To learn more visit www.angeliniindustries.

About Blackstone Life Sciences
Blackstone Life Sciences is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within key life science sectors. By combining scale investments and hands-on operational leadership, Blackstone Life Sciences helps bring to market promising new medicines and medical technologies that improve patients’ lives and currently has more than $12 billion in assets under management.

Corporate Contacts
GRIN Therapeutics
Elliott Ruiz, MBA
Senior Vice President, Finance & Operations
+1 201.674.5417
elliott.ruiz@neurvati.com

Angelini Pharma
Chiara Antoniucci
Global Head of Brand and Media Communications
+39 3477133926
Chiara.antoniucci@angelinipharma.com

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Gimv sells Joolz to Bugaboo, creating the foundations for a global house of high-quality stroller brands

GIMV

Gimv together with founding partner Emile Kuenen and his business partner Stan Vermeulen sell their stake in the fast-growing Dutch high-quality stroller brand Joolz to Bugaboo, the global market-leader in strollers and high-quality juvenile consumer products. Both strong and complementary Dutch brands Joolz and Bugaboo have agreed to join forces to accelerate their international growth in the fragmented worldwide stroller market.

Gimv Consumer invested in Joolz in 2016, alongside founding partner Emile Kuenen and his business partner Stan Vermeulen, to support its further geographical expansion in Europe and beyond. The joint ambition was to develop Joolz into a true next-gen high-quality stroller brand: a brand that stands for beautiful design and top-quality products developed for kids, parents and the planet. The conscious strollers are designed for real life and made to last. Today, Joolz sells premium strollers in more than 60 countries with well-established presence across Europe, APAC and the United States.

Both Joolz (www.joolz.com) and Bugaboo (www.bugaboo.com) are pioneers in the market for high-quality baby strollers and innovative juvenile consumer durables with leading performances in quality, sustainability and design. Founded by Dutch entrepreneurs, both companies have excelled at realizing international growth with Bugaboo being one of the leading brands, while Joolz has quickly scaled and holds a strong position in Europe and other international markets. Their combined portfolios will span everything from award-winning strollers to innovative parenting accessories.

The brands Bugaboo and Joolz will continue to operate separately in the market, as both will further benefit from existing and new market opportunities in the global stroller market. The combined company will have a total of 1,200 employees, with its headquarters located in Amsterdam, the Netherlands.

Patrick Franken, Partner and Jelle Assink, Principal at Gimv Consumer, declare: “At Gimv Consumer, we are very proud of Joolz’s strong growth and the journey we have realized together. By building on their core philosophy of design, innovation, and sustainability, Joolz has developed into a truly recognized global high-quality stroller brand. The Joolz and Bugaboo brands are highly complementary and together will create an unrivalled platform in the juvenile category, allowing both companies to accelerate growth and unlock their full potential.”

Richard den Hollander, CEO Joolz, declares: “By joining forces with Bugaboo, we will be able to accelerate the exciting growth journey we have been on for the last five years, as Bugaboo is the strongest strategic partner who can and is willing to make smart and healthy investments in our brand. Our combined commercial strength, together with our mutual strong belief in consumer-centric innovation, superior design, engineering and ESG, will enable us to build a global house of brands and drive strong growth in the high-quality stroller market across the globe. While we both consider ourselves international companies, our mutual Dutch roots and our commitment to quality, sustainability and our brands offer a solid foundation for our continued journey together.”

Adriaan Thierry, CEO Bugaboo, declares: “The global stroller market is highly fragmented and offers enormous opportunities for high-quality brands. Us teaming up with Joolz is exemplary for our strategy of organic growth and growth by acquisition. Bugaboo and Joolz are distinct, yet complementary brands. But the quality of both brands is exceptional. Together, we will be able to innovate even better and faster. And we will be able to offer more choice in high-quality strollers to our customers in Europe, as well as the Americas, Asia and the Middle East, through our current and new distribution channels in those markets.”

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Honeydew Revolutionizes Business Intelligence with Investment from Snowflake Ventures

Snowflake

At Snowflake, our mission is to empower every enterprise to achieve its full potential through data and AI. We actively support innovative companies within our ecosystem that demonstrate clear value for our customers, which is why we’re excited to invest in Honeydew, a former Snowflake Startup Challenge finalist. Honeydew’s Semantic Layer revolutionizes the way data teams collaborate on business intelligence and deliver impactful data-driven insights.

Underpinning Honeydew’s approach is our shared vision that “semantics should live in the data warehouse.” “A shared truth starts with a shared language — for people, for tools, for data transformation,” says Honeydew’s Co-Founder and CEO, David Krakov.

Honeydew makes it easier to make complex data more accessible, consistent and useful for Snowflake customers. In particular, its sophisticated semantic compiler enables end users to ask their own questions, using their own tools, on metrics processed directly in Snowflake. The compiler ensures that every ad hoc user question is translated to a Snowflake query that is both correct and lightning fast.

Bridging the gap between data, users and AI

In the age of AI, a robust and accurate understanding of data isn’t just important — it’s foundational. This is where Honeydew’s Semantic Layer shines. It acts as a crucial bridge that connects the business language that AI agents or BI tools use with intricate relationships, join paths, levels of granularity, metric definitions, nuances and dependencies within an organization’s data.

Honeydew built a Snowflake Native App for its Semantic Layer on Snowflake to provide seamless access within Snowsight UI, the Snowflake web interface, enabling applications built on Snowflake to leverage the Semantic Layer for query generation while extending Snowflake’s robust security features to it.

One logic and shared truth: Lightning-fast insights with Power BI

For organizations leveraging the power of Microsoft’s Power BI on Snowflake, Honeydew fundamentally transforms the BI experience by placing logic where the data resides. This changes how BI teams operate and empowers Snowflake customers to:

  • Increase speed and performance: Enable fast, direct queries on massive data sets, even those exceeding 1 billion rows.
  • Centralize governance: Build data access, business metadata, governance and cost controls once within Snowflake and seamlessly apply them across all Power BI instances.
  • Create a single source of truth for all critical business metrics: Say goodbye to duplicate logic. Defining key metrics and aggregations in SQL within Snowflake only once eliminates the need for complex Power BI DAX expressions or Tableau LOD calculations.

The tangible impact of Honeydew is clear. Just ask Pizza Hut. By tapping into Honeydew’s Semantic Layer, built natively on Snowflake, Pizza Hut has connected Power BI and Excel directly to its transactional data, giving business users real-time access to governed metrics without duplicating data. The results?

  • Reports delivered four hours earlier
  • 50% faster development of insights
  • 30% reduction in costs and engineering effort

Continued growth

Our investment in Honeydew reflects our belief in its vision and the transformative potential of its technology. We’re confident that Honeydew’s powerful Power BI integration and intelligent Semantic Layer will empower organizations to unlock deeper insights, improve data governance and ultimately make better, data-driven decisions. We’re excited to continue partnering with Honeydew and look forward to witnessing its growth and impact on the future of data and AI.

Discover how to leverage Honeydew for your Snowflake ecosystem at Snowflake Summit 2025 in San Francisco, June 2-5, 2025, by visiting Honeydew’s booth (#1204).

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Maven leads investment alongside Northstar Ventures in contract research organisation (CRO) Magnitude Biosciences to drive development of next-generation drug screening platform.

Maven

Magnitude Biosciences, a specialist contract research organisation based in County Durham, has secured over £700,000 to scale its high-throughput screening platform for in vivo discovery of treatments for age-related conditions and other diseases using C. elegans, a species of nematode worms.

The investment was led by NPIF II – Maven Equity Finance, which is managed by Maven as part of the British Business Bank’s Northern Powerhouse Investment Fund II, and the Finance Durham Fund, established by Durham County Council and overseen by Business Durham, as well as continued support from existing investors NorthStar Ventures. The investment was matched with grant funding from Innovate UK through the Investor Partnerships: Digital Technologies North East programme.

This funding will enable Magnitude Biosciences to enhance its proprietary WormGazer® technology, integrating robotics, machine learning, and liquid culture systems to create a novel HTS platform capable of screening thousands of compounds per week. By rapidly analysing whole-organism data with advanced machine learning technology, this platform enables pharmaceutical, nutrition, and health supplement companies to quickly identify compounds that may support healthier aging, accelerating discovery, lowering costs, and reducing reliance on traditional testing models.

The expansion will create high skilled jobs in robotics, software engineering, and biological sciences at the company’s base in NETPark (Sedgefield) strengthening the North East’s reputation as a growing hub for digital and life science innovation

Fozia-Saleem-Magnitude-BiosciencesPictured: Dr Fozia Saleem

Fozia featured on Maven’s Invested Podcast mini-series ‘Scaling for Success.’

“We’re incredibly grateful for the support from Innovate UK, Maven and Northstar as we scale our HTS platform. This funding accelerates our mission to revolutionise drug discovery bringing life-changing therapies to patients faster, cutting costs and timelines, and transforming how we tackle the world’s toughest-to-treat diseases while reducing dependence on traditional animal models.”

Dr Fozia Saleem, CEO of Magnitude Biosciences

“Magnitude Biosciences is building the kind of scalable, high-impact technology we look for at Maven. Their HTS platform meets a clear need in early-stage drug discovery. Fozia is also an excellent role model for the region, through her work at Magnitude and as the Vice Chair of the Lifted Project Newcastle Board, where she is helping drive greater investment into female led businesses. We are delighted to support Fozia and her team on their exciting journey.”

Michael Dickens, Investment Manager at Maven

“The North East is increasingly becoming an epicentre for innovation in the UK and Magnitude Biosciences is a good example of the technology-enabled businesses that NPIF II is able to champion. Empowering female leaders in the science and technology space is also crucial to enabling a more diverse and prosperous economy. We’re excited to see the impact the business will achieve, creating jobs in the region and furthering the important work they are committed to.”

Sarah Newbould, Senior Investment Manager at British Business Bank

“Magnitude Biosciences is a fantastic example of the type of innovative, high-growth business that Finance Durham was established to support. We’re proud to back their continued development at NETPark, where they are not only scaling cutting-edge drug discovery technologies but also playing a vital role in the strength and vibrancy of the science park community.”

Kerry Walker, Business Growth Director at Business Durham

This investment is the latest deal backed by Maven’s client funds in the North East, highlighting our strong track record in supporting high-potential businesses and the region’s growing opportunities to drive innovation and growth. Across the region, Maven has backed plant-based food business, Tiba Tempeh, FinTech specialist, Kani Payments, food and beverage canning business, CRL Foods, solar film technology specialist, Power Roll, and Radio-frequency identification (RFID) innovator, PervasID.

NPIF II – Maven Equity Finance can provide investment of up to £5 million to support ambitious earlier and later stage businesses across the North East of England. If your business, or the business you advise, is looking for an equity investment as a solution to fund future growth, get in touch here >

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NPIF Maven Equity Finance    Finance Durham Fund

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back to newsCharterhouse Capital Partners announces agreement to sell Casa Optima to Terlos LLP and co-investors

Charterhouse

May 27, 2025

Charterhouse Capital Partners (“Charterhouse”), one of the longest-established private equity firms operating in Europe, today announces that it has entered into an agreement to sell Casa Optima, a leading global player in the artisanal gelato and pastry ingredients market, to a group of investors led by Terlos LLP (“Terlos”). Terlos is a private investment firm with a focus on European consumer brands, which has Javier Ferrán, the company’s current chairman, and a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) as exclusive limited partners.

Founded in 1984 and headquartered in Rimini, Northern Italy, Casa Optima serves over 30,000 gelato shops and 6,000 pastry shops in over 150 countries worldwide. The company has a comprehensive portfolio of premium ingredients for artisanal gelato, pastry and beverages, developed in state-of-the-art manufacturing facilities in Italy and Brazil.

In partnership with Charterhouse since 2016, Casa Optima has pursued a transformational growth journey to expand and professionalise its offering, moving from a local leader to a global market leading business.  This has included widening its product offering through organic and inorganic growth opportunities, notably the strategic acquisitions of Modecor, Giuso, Pernigotti Maestri Gelatieri Italiani and Blend, and accelerating innovation through investment in R&D.  During that time, Casa Optima has also significantly strengthened its management team, with the appointments of Francesco Fattori as CEO and Javier Ferrán as Chairman.

Today’s announcement caps an active period of transactions for Charterhouse having recently announced the sale of minority stakes in Novétude Group, a new European healthcare education platform, to Peugeot Invest and Hayfin Capital, and the acquisition of a majority stake in ESTYA, a leading French services provider specialising in electronic fire safety and security systems, from Chequers Capital.

Antonio di Lorenzo, Partner at Charterhouse Capital Partners, said: “We are proud to have supported the talented management team, including Francesco and Javier, through Casa Optima’s transformational growth journey into an international market leader. The company is exceptionally positioned for future growth, and we have no doubt that Javier and his team, with their consumer expertise and existing knowledge of Casa Optima, will do an excellent job supporting the company going forward.”

Javier Ferrán, Managing Partner of Terlos LLP and Chairman of Casa Optima, commented: “Since joining the Board, I have been greatly impressed by the strength of Casa Optima and the caliber of its management team, as well as the scale and quality of the strategic opportunities that lie ahead for the business. We look forward to continuing our collaboration with Francesco and the wider team to further build on the leadership position and strong foundations the business has established in recent years under the stewardship of Charterhouse.”

Francesco Fattori, CEO of Casa Optima, added: “Thanks to Charterhouse’s continuous support, over the last few years Casa Optima has been able to consistently deliver solid top and bottom-line growth on the back of strong internationalisation plans, the completion of multiple strategic acquisitions and the development of successful brands and products. We are very excited to continue to work with Javier, alongside Terlos, as we continue to pursue our strategic organic and inorganic growth plans.”

The transaction is subject to customary regulatory approvals and would be expected to close by Q1 2026.

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Prosek Partners

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Charterhouse achieves B Corp certification19.05.2025Charterhouse welcomes minority investors into Novétude Group09.05.2025

Information on Casa Optima

www.casaoptima.com/en

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Stirling Square completes the sale of Verescence to Movendo Capital and Draycott

Stirling Square

Exit follows transformational partnership that established the Company as the global glass packaging market leader to the luxury beauty industry

France, 26th May 2025 – Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces the completion of the sale of Verescence, the market leader in luxury glass packaging for the perfumery and cosmetics industry, to a consortium comprised of Movendo Capital, an investment holding company and family office, and Draycott, an asset manager.

Verescence is a specialist manufacturer of glass bottles for the perfumery and cosmetics industry and the partner of choice to the world’s largest luxury beauty market players, including Hermès, LVMH and L’Oréal. Founded in 1896, Verescence has 2,500 employees across three continents and brings 130 years of glassmaking expertise globally. It operates seven glass manufacturing factories around the world in France, Spain, North America, and South Korea with an annual production capacity of 600 million bottles.

Stirling Square acquired Verescence in 2019 as the first investment of its Fourth Fund. Over the past six years, it has worked alongside the Company’s leadership team to transform it into the market-leading sustainable glassmaker for the global luxury beauty industry. Stirling Square spearheaded transformational M&A, most notably through the strategic acquisition of a manufacturing facility in South Korea in 2021 that enabled the business to expand into the high-growth, premium beauty segment in Asia. Under Stirling Square stewardship, the Company invested €100 million into additional capacity and automation to increase productivity, through the development of proprietary IP underpinned by AI and machine learning. Stirling Square also supported significant sustainability initiatives – today, bottles can be made from 100% recycled glass, compared with a 2% rate when it assumed ownership. The Company also now upholds industry-leading ESG ratings, notably EcoVadis Platinum and CDP AA- for climate and water action.

As a result of Stirling Square’s investment and strategic transformation, during the ownership period, Verescence’s revenues increased by 40% to €421m and EBITDA trebled to more than €80 million.

Thomas Riou, CEO of Verescence, said: “Stirling Square have been a phenomenal partner, providing investment and expertise that enabled our global expansion, strategic shift to expand our skincare offering to meet the growing needs of our customers. They have also encouraged us to embed innovation across our industrial processes and accelerated our digital transformation that has resulted in us adopting a more data-driven approach across the organisation.”

Julien Horreard, Partner at Stirling Square, added: “We are delighted to have had the privilege of collaborating with Thomas and the brilliant Verescence team over the last six years, during a transformational period linked to our strategic investment in digitalisation, innovation, sustainability and international expansion into the Asian market. We are incredibly proud of what Thomas and the management team achieved during this time as today, Verescence is the market leading specialty glass packaging player with a strong global footprint across France, Spain, the US and South Korea. We wish the team all the best in its next chapter.”

João Coelho Borges, Draycott’s Founding Partner, and Pedro Pereira Gonçalves, Movendo’s CEO, concluded: “We are excited about the opportunity to acquire a global leader with a strong and experienced management team fully aligned with our value creation strategy. Verescence’s leadership position in the industry aligns with our investment criteria across multiple key dimensions. By combining management’s expertise with our own, we aim to drive sustainable growth and maximize value for all stakeholders.”

Stirling Square has a strong track record in France, having been investing locally for over 15 years, with its current and prior portfolio comprising Médisup, Vernet, Siblu, AD Industries, Citec Environnement (ESE) and Permaswage (GDT).

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Main Capital Partners announces its acquisition of Norwegian document collaboration and e-archiving specialist Documaster

Main Capital Partners

Main Capital Partners today announces its majority investment in Documaster, a Norwegian provider of mission-critical digital infrastructure for streamlined document management and e-archiving.

Moving forward, Main will act as a strategic partner to the management team, supporting Documaster in its growth journey. By pursuing a selective buy-and-build strategy, Documaster has strong potential to further internationalize and become a European leader in critical document and data management for public and regulated private sectors.

Documaster is a Norwegian cloud-native provider of digital infrastructure for streamlined document management and e-archiving. The services provided by Documaster simplify the processes of capturing, storing, organizing, and retrieving documentation, addressing the common issue of time-consuming searches for business-critical information within disorganized file systems. Today, Documaster serves approximately 750 customers, over 90% of which are public sector organizations, complemented by clients in highly regulated private sectors.

Attractive market dynamics and international scalability
The primary motivations behind the strategic acquisition with Documaster include attractive market dynamics as well as its scalability. In an increasingly complex regulatory environment, Documaster empowers organizations to manage their data and documents in a secure, compliant, and efficient manner. The combination of regulatory drivers, long-term customer commitment, and the shift to cloud-based solutions makes the archiving software market highly attractive. As data volumes continue to grow, companies that provide innovative, scalable, and secure archiving solutions are well-positioned for long-term success.

The company is well-positioned to continue its international growth, with an existing presence in Norway, Sweden, the Netherlands, and Belgium. Leveraging Main’s experience and network in supporting companies’ cross-border growth, both organically and through strategic add-on acquisitions, Documaster aims to further expand in the Nordic market as well as Continental Europe. The experienced management team will remain closely involved post-closing to continue their growth journey alongside Main.

We look forward to working closely with the team to accelerate international growth and jointly build a leading player in the document management and e-archiving space.”

– Wessel Ploegmakers, Partner & Head of Nordics

Svein Henning Kirkeng, CEO of Documaster: “We are very excited to embark on this new chapter with Main Capital. Their extensive experience in scaling SaaS companies and fostering long-term growth aligns perfectly with Documaster’s ambitions. Together, we will continue to deliver value to our customers while expanding our reach and capabilities. I am proud of what the team has achieved so far and look forward to what lies ahead.”

Wessel Ploegmakers, Partner & Head of Nordics at Main Capital Partners: “We are proud to join forces with the Documaster team. Their strong market position and mission-critical solutions are well aligned with our investment focus. We look forward to working closely with the team to accelerate international growth and jointly build a leading player in the document management and e-archiving space.”

About Documaster

Founded in 2014 in Oslo, Documaster is a cloud-native provider of document management and e-archiving solutions. The company’s technology streamlines the capture, storage, organization, and retrieval of documentation, helping organizations reduce inefficiencies and maintain compliance. Its core product, Documaster Archive, is primarily targeted at public sector entities and is designed to meet strict regulatory and operational requirements. Documaster currently serves approximately 750 customers, primarily in the public sector across Norway, Sweden, and the Netherlands.

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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Blue Phoenix Group announces successful completion of landmark €750 million long-term refinancing with tier-one international lenders to support further development as a leading waste recycling infrastructure provider

InfraVia

Blue Phoenix Group (“BPG”), a leading player in waste recycling providing critical circular economy infrastructure based in the Netherlands, is pleased to announce the successful completion of a landmark €750 million refinancing of its debt facilities, secured from a consortium of leading infrastructure banks and institutional investors. This transaction refinances the company’s previous debt package over the long term and includes additional facilities to support future growth initiatives.

The oversubscribed financing marks a significant milestone following InfraVia’s majority stake investment in 2022, and two subsequent strategic build-up acquisitions in 2024 (RGS Nordics in Denmark and REKO in the Netherlands). The strong demand from high-profile infrastructure lenders underscores both the relevance of the circular economy infrastructure thesis and BPG’s position as a resilient and high-quality infrastructure.

The new facilities reflect investor confidence in BPG’s robust and critical business model, the growing demand for infrastructure supporting the circular economy and the energy transition, and the company’s solid track record of performance and execution. The proceeds will enable BPG to develop the platform and consolidate its leadership position through additional bolt-on acquisitions and high-impact capex projects.

Arjen de Jong, CFO of BPG, says: “This successful refinancing highlights the strength of our platform and its track record, the relevance of our mission, and the quality of our team. It provides us with enhanced financial flexibility to further grow our market-leading position in the recycling sector, and to actively contribute to the global energy transition. We warmly thank our lenders for their commitment and contribution to BPG’s success in the years to come”.

Arnaud Delarue, Director, Financing, InfraVia, adds: ” This successful refinancing is a strong vote of confidence in BPG’s infrastructure business model, management team, and long-term strategy. We believe BPG is uniquely positioned to scale its operations, lead industry consolidation, and play a critical role in the transition to a low-carbon, resource-efficient economy.”

Henry Forder, Director, Daiwa-ICP, adds: “We are very pleased with the results of this financing which attracted significant interest from top-tier lenders, reflecting strong confidence in our vision and growth trajectory. This refinancing aligns our capital structure with our ambitious infrastructure financing goals.”

Lenders to the refinancing are funds managed by Allianz Global Investors, BNP Asset Management and Edmond de Rothschild Asset Management, together with the banks Barclays, Crédit Agricole CIB, LBBW, MUFG, Natixis, NORD/LB, Rabobank, and Société Générale.

BPG was advised by Jefferies and Kirkland & Ellis. Lenders were advised by Simpson Thacher & Bartlett.

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PRESS CONTACTS

InfraVia
Antoine Denry | TADDEO
antoine.denry@taddeo.fr
+33 (0) 6 18 07 83 27

Clémence Midière | Taddeo
clemence.midiere@taddeo.fr
+33 (0) 6 46 76 70 22

Gwenaëlle Boucly
InfraVia Communication Director
gboucly@infraviacapital.com
+33 (0) 6 80 57 33

BPG
Christoffer Worsøe | BPG
christoffer.worsoe@bluephoenix-group.com
+45 81 77 03 89

Daiwa International Capital Partners 
Gregor Jackson | CEO, Daiwa ICP
gregor.jackson@daiwa-icp.com
+44 20 4551 2778

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AURELIUS Finance Company | Tyre Group

Aurelius Capital

AURELIUS Finance Company and The Tyre Group agree GBP 26m tailored financing solution

London, May 23, 2025 – AURELIUS Finance Company, the Private Debt segment of AURELIUS, is pleased to have completed the financing of The Tyre Group (TTG), the UK’s largest independent tyre retailer and wholesaler, with the delivery of a highly bespoke GBP 26m facility.

The facility incorporates a GBP 11m working capital revolver, alongside a GBP 15m property-linked term loan. This bespoke two-tranche solution replaces and simplifies a mix of legacy clearing bank facilities inherited via historic acquisitions, while unlocking material additional working capital headroom to support a range of attractive growth initiatives for the group.

AURELIUS Finance Company was able to view the business, its working capital, and its property footprint holistically to structure a facility closely aligned to the business’ growth aspirations and liquidity requirements. As is typical for AFC, this was then delivered at pace through a single, dedicated deal team in order to meet the tight timeframes demanded by the refinancing process.

“This is another great example of how AURELIUS Finance Company can step in where traditional lenders struggle – we pride ourselves on delivering speed, flexibility and an integrated approach to the complex financing needs of a high-quality mid-sized company, constrained by a sub-optimal debt structure. We listened to management and their advisors so that we could structure a facility tailored to TTG’s operational footprint and cash-flow requirements, we priced it competitively, and then delivered it with commercial pragmatism. It was a pleasure to work with Chris and The Tyre Group’s team, and we’re proud to now be playing a part in what promises to be an exciting chapter of growth,” commented James Marler, Director and Head of New Business at AURELIUS Finance Company.

“AURELIUS Finance Company stepped forward with a promise to deliver both facilities in an integrated manner – making the process much more efficient. They moved quickly and efficiently, were highly commercial throughout, and delivered exactly what they had promised. This facility will make a real difference as we continue to grow our business, integrate past acquisitions, and build on the solid platform that my father put in place. We look forward to a strong partnership with the AURELIUS Finance Company team,” said Chris Freeman, CEO of The Tyre Group.

Founded in 2000 by Robert Freeman and now led by his son Chris, The Tyre Group operates under well-known regional brands including Malvern Tyres, Just Tyres, King David Tyres and County Tyres. With 116 locations across the Midlands and southern England and Wales, the group offers a full range of fast-fit automotive services and supplies tyres across the premium, mid-range and budget segments.

AURELIUS Finance Company was advised by Addleshaw Goddard (Legal), SIA Group (Accounts Receivable and Inventory Appraisals) and Colliers (Property Valuations). The company was further advised by HCR Law (Legal) and Hawkstone Commercial Finance (Debt Advisory).

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Sunds Fibertech acquires LÜBKE GmbH

Priveq

Priveq’s portfolio company Sunds Fibertech has acquired LÜBKE GmbH.

The acquisition strengthens Sunds Fibertech’s environmental systems portfolio, supporting their mission to “Boost your plant” by enhancing plant operations and air quality. LÜBKE’s market-leading technology and high-quality solutions complementing existing offering and positions Sunds to meet the growing demand for emission control solutions across the panelboard and other process industries.

Please find more information about the deal on Sunds Fibertech’s website.

For further information, please contact

Karl-Johan Willén
Partner & Investment Manager
Phone: +46 8 459 67 66
Mobile: +46 70 950 88 25
Email: karljohan.willen@priveq.se

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