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Phosphorex Welcomes NOF CORPORATION as Shareholder and Strategic Partner

Ampersand

Hopkinton, MA and Tokyo, Japan – August 9th, 2024 – Phosphorex, a drug delivery-focused contract development and manufacturing organization (“CDMO”) backed by Boston-based private equity firm Ampersand Capital Partners, announced today that NOF CORPORATION has completed a strategic investment into the company.

This partnership marks a significant milestone in Phosphorex’s growth and development journey as NOF’s investment will be used to accelerate the establishment of Phosphorex’s cGMP capability while further strengthening the collaboration between the two companies. The addition of NOF CORPORATION as a shareholder underscores its confidence in Phosphorex’s innovative approach to enabling nanoparticle-based drug delivery on a global scale.

“We are excited to welcome NOF CORPORATION as a minority shareholder,” said Jarlath Keating, CEO of Phosphorex. “Their support and expertise will be invaluable as we continue our vision of enabling the development of novel therapeutics to improve the lives of patients. This partnership will help us advance our growth plans and enhance the value we provide to our clients and stakeholders.”

“This investment is expected to bring numerous benefits to Phosphorex, including increased funding, additional strategic support, and other advantages,” said Yuji Yamamoto, General Manager of Life Science division of NOF CORPORATION. “The collaboration with NOF CORPORATION will further enable Phosphorex’s mission to become the leading CDMO for nanoparticle-based drug delivery solutions and consolidate NOF’s position in the lipid nanoparticle (LNP)-based drug delivery market via its COATSOME® SS Series of proprietary ionizable lipids.”

 

 

 

About Phosphorex

Phosphorex is a leading provider of drug delivery technologies and solutions. By harnessing the potential of microspheres and nanoparticles for drug delivery, Phosphorex offers tailored solutions and enabling technologies to optimize a drug’s release rate, targeting ability, bioavailability, and deliverability, with the goal of achieving desired therapeutic effects while reducing adverse clinical outcomes. Phosphorex supports pharmaceutical and biotech companies through all phases of their development, from proof of concept to clinical studies. Phosphorex’s mission is to help our partners solve complex problems and develop successful drugs to help patients. Additional information about Phosphorex is available at Phosphorex.com or on LinkedIn.

About NOF CORPORATION

The NOF Group pursues multi-faceted business development in five divisions of activities based on its own technologies. Since 2001, DDS Development Division is organized within NOF’s family of complementary business units, offering innovation to pharmaceutical and biomedical products. In April 2023, the DDS Development Division was renamed the Life Science Division and will continue to contribute to the pharmaceutical and medical fields. NOF supplies high-purity phospholipids, diacylglycerol PEGs and proprietary ionizable lipids as materials for LNP. For additional information, visit NOF.co.jp/english/business/life and DDS-Drug.com or on LinkedIn.

About Ampersand Capital Partners

Founded in 1988, Ampersand Capital Partners is a middle market private equity firm with $3 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit AmpersandCapital.com or follow us on LinkedIn.

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KKR Announces Tender Offer to Acquire FUJI SOFT

KKR

TOKYO – August 8, 2024 – KKR, a leading global investment firm, today announced that FK Co., Ltd. (the
“Offeror”), an entity owned by investment funds managed by KKR, intends to make a tender offer to
acquire all the outstanding shares of FUJI SOFT INCORPORATED (“FUJI SOFT” or the “Company”; TSE stock
code 9749).
FUJI SOFT is a leading system integrator in Japan with a focus on embedded, control and operational
software and systems. The Company serves clients across various industries based on advanced
technologies built on decades of experience with a team of over 10,000 system engineers. Under the
Company’s five-year “Mid-Term Business Plan 2028,” FUJI SOFT’s vision is to become a leading provider of
system, software, and service both in information technology (“IT”) and operational technology fields. The
Company’s five-year plan also outlines its strategy to improve the profitability of its existing businesses,
strengthen group synergies, and capture new growth opportunities.
The proposed tender offer price of JPY 8,800 per share has been determined based on negotiations
between KKR and FUJI SOFT. The transaction will be financed predominantly from KKR’s Asian Fund IV.
The proposed tender offer price represents1
:
• A 110.3% premium over the simple average closing price of FUJI SOFT’s stock for the 12 months
up to October 2, 2023.
• A 97.8% premium over the simple average closing price of FUJI SOFT’s stock for the 6 months up
to October 2, 2023.
The Offeror expects to commence the tender offer in the second half of 2024, subject to regulatory
approvals. For details regarding the conditions for the commencement of the tender offer, please refer to
the full text of the filing notice issued today titled, “Notice Regarding the Planned Commencement of
Tender Offer for the Shares of FUJI SOFT INCORPORATED (Code: 9749) by FK Co., Ltd.”
Hiro Hirano, Deputy Executive Chairman of KKR Asia Pacific and CEO of KKR Japan, said, “As Japan’s IT
services industry enters a transformative period of digitalization marked by the expanded use of cloud,
IoT, and generative AI, we are pleased to have the opportunity to invest in a market leader in FUJI SOFT.
We look forward to leveraging KKR’s global platform and industry expertise in the IT services sector to
accelerate FUJI SOFT’s long-term growth and to unlock greater value for Japanese businesses and their
customers.”
Japan continues to be an important market for KKR in the Asia Pacific region and globally. Since entering
the Japanese market in 2006, KKR has deployed more than $8 billion in Japan across asset classes and
strategies, and currently manages $18 billion in assets under management in the country. In Japan, KKR’s
investments into the digital space include: Yayoi, a leading cloud accounting software provider; DataX (fka
from scratch), an integrated data-driven marketing SaaS platform in Japan; Netstars, a QR code multipayment gateway provider; and SmartHR, a human resources Software-as-a-Service provider. Other
investments in Japan include LOGISTEED (fka Hitachi Transport System), a leading third-party logistics
business; Seiyu, a nationwide supermarket chain; KOKUSAI ELECTRIC (fka Hitachi Kokusai Electric), a
leading semiconductor producing equipment company; PHC Holdings(fka Panasonic Healthcare), a leading
manufacturer of medical devices; Koki Holdings (fka Hitachi Koki), a power tool manufacturer; and Marelli
(fka CALSONIC KANSEI), a global Tier 1 supplier of automotive components.
1 Figures represent the unaffected FUJI SOFT share price based on the closing share price on October 2, 2023, the last full trading
day immediately prior to the speculative publication of media reports regarding the start of the bidding process for a potential
tender offer.

This press release should be read in conjunction with the filing notice issued today titled, “Notice Regarding
the Planned Commencement of Tender Offer for the Shares of FUJI SOFT INCORPORATED (Code: 9749) by
FK Co., Ltd.”, a copy of which is reproduced below.
The purpose of this press release is to publicly announce the tender offer and it has not been prepared
for the purpose of soliciting an offer to sell or purchase in the tender offer. When making an application
to tender, please be sure to read the tender offer explanatory statement for the tender offer and make
your own decision as a shareholder or share option holder. This press release does not constitute, either
in whole or in part, a solicitation of an offer to sell or purchase any securities, and the existence of this
press release (or any part thereof) or its distribution shall not be construed as a basis for any agreement
regarding the tender offer, nor shall it be relied upon in concluding an agreement regarding the tender
offer.

The tender offer will be conducted in compliance with the procedures and information disclosure
standards set forth in Japanese law, and those procedures and standards are not always the same as the
procedures and information disclosure standards in the U.S. In particular, neither sections 13(e) or 14(d)
of the U.S. Securities Exchange Act of 1934 (as amended; the same shall apply hereinafter) or the rules
under these sections apply to the tender offer; and therefore the tender offer will not be conducted in
accordance with those procedures and standards.
Unless otherwise specified, all procedures relating to the tender offer are to be conducted entirely in
Japanese. All or a part of the documentation relating to the tender offer will be prepared in English;
however, if there is any discrepancy between the English-language documents and the Japanese-language
documents, the Japanese-language documents shall prevail.

This press release includes statements that fall under “forward-looking statements” as defined in section
27A of the U.S. Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934.
Due to known or unknown risks, uncertainties or other factors, actual results may differ materially from
the predictions indicated by the statements that are implicitly or explicitly forward-looking statements.
Neither the Offeror nor any of its affiliates guarantee that the predictions indicated by the statements that
are implicitly or expressly forward-looking statements will materialize. The forward-looking statements in
this press release were prepared based on information held by the Offeror as of today, and the Offeror
and its affiliates shall not be obliged to amend or revise such statements to reflect future events or
circumstances, except as required by laws and regulations.

The Offeror, its financial advisors and the tender offer agent (and their respective affiliates) may purchase
the common shares and share options of the Company, by means other than the tender offer, or conduct
an act aimed at such purchases, for their own account or for their client’s accounts, in the scope of their
ordinary business and to the extent permitted under financial instrument exchange-related laws and
regulations, and any other applicable laws and regulations in Japan, in accordance with the requirements
of Rule 14e-5(b) of the U.S. Securities Exchange Act of 1934 during the tender offer period. Such purchases
may be conducted at the market price through market transactions or at a price determined by
negotiations off-market. In the event that information regarding such purchases is disclosed in Japan, such
information will also be disclosed on the English website of the person conducting such purchases (or by
any other method of public disclosure).

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.
For more information, please contact:
KKR Asia Pacific
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

Categories: News

Aliter backed Athera Healthcare acquires Newgate Technology

Aliter Capital

Insight and data-driven health technology provider acquires electronic tracking and traceability solutions provider

 
 

Aliter has confirmed its portfolio company Athera Healthcare has acquired Newgate Technology, a provider of healthcare software solutions for patient management and inventory traceability in clinical environments.  

 

Based near Edinburgh, Newgate supports hospitals and healthcare facilities across the UK and Ireland. The company’s hospital management systems offer a wide range of benefits with minimal disruption to hospital processes. Newgate has also developed a suite of specialist software to track and trace surgical instruments and to monitor and benefit the management of  operating theatres and emergency treatment procedures.

 

The acquisition of Newgate represents Aliter’s third investment within the Athera Healthcare group, which aims to create a UK-based healthcare-focused software and data analytics business.

 

Gordon Cooper, CEO, Athera Healthcare, said: “Newgate’s technology systems, alongside their specialist skills, knowledge and experience are a great complementary fit for our current business. In becoming part of the Athera Healthcare Group, they strengthen both the depth and range of our proposition and further investment in the business going forward will maximise its outstanding potential.”

 

Newgate’s managing director Adam Watson and his senior team will continue in their current roles and work closely with the management team at Athera Healthcare to develop the business.

 

Greig Brown, Aliter partner said, “The acquisition of Newgate Technology supports Aliter’s strategy of developing a scaled, UK provider of healthcare technology solutions. The team at Aliter is excited to work with Athera in the next phase of its development, especially in the field of data insights for the benefit of population health.”

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CVC DIF agrees to acquire diagnostic imaging business medneo UK

CVC Capital Partners
  • medneo UK is a leading mobile diagnostic imaging company, specialising in MRI and CT services
  • CVC DIF will partner with medneo UK’s experienced management team to continue to enhance patient outcomes across the UK

CVC DIF, the infrastructure strategy of leading global private markets manager CVC (via its CIF III fund), is pleased to announce the acquisition from medneo Group of medneo UK, a leading diagnostic imaging company, specialising in the provision of mobile MRI and CT scanners, and imaging services.

medneo UK is an expert provider of diagnostic imaging services to NHS Trusts and healthcare providers across the UK. Through its fleet of more than 20 state-of-the-art mobile scanners and its London centre, the business’ highly skilled team of radiographers provide MRI and CT imaging services to more than 130,000 patients a year. medneo UK’s existing management team will continue to lead the company under CEO, Andy Spellman.

medneo UK will be acquired from medneo Group S.A., an innovative diagnostic-imaging operator solution with operations in the UK, Germany and Switzerland. medneo’s UK business was established in 2018.

Quotes

We are delighted to have agreed to support the next stage of medneo UK’s growth journey. medneo UK has an excellent reputation for providing essential services within the UK healthcare system that improve patient outcomes.

Willem JansoniusPartner and Head of CIF Investments at CVC DIF

Willem Jansonius, Partner and Head of CIF Investments at CVC DIF, says: “We are delighted to have agreed to support the next stage of medneo UK’s growth journey. medneo UK has an excellent reputation for providing essential services within the UK healthcare system that improve patient outcomes. We look forward to working with Andy Spellman and his team to continue to grow the business including providing further investment to expand their fleet of scanners.”

Andy Spellman, CEO of medneo UK, added: “Myself and the whole medneo UK team look forward to working in partnership with CVC DIF to continue to deliver outstanding services for our patients and customers. medneo UK’s success to date is due to the hard work of the medneo UK team, and with CVC DIF’s support we will be able to expand our services to serve even more patients whilst maintaining our focus on exemplary patient and customer care.”

CVC DIF has been advised by Travers Smith (legal advisor), LEK (commercial advisor), KPMG (financial and tax advisor) and Marsh (insurance advisor). medneo Group has been advised by Alantra (corporate finance advisor), Freeths (legal advisor), BDO (financial and tax advisor) and CIL (commercial advisor).

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Blackstone Energy Transition Partners Announces Majority Investment in Westwood Professional Services, Inc., Leading Engineering & Consulting Firm

Blackstone

Plano, Texas and New York, NY, August 7, 2024 – Blackstone (NYSE: BX) announced today that private equity funds affiliated with Blackstone (“Blackstone”) have agreed to make a majority investment in Westwood Professional Services, Inc. (“Westwood”), a leading engineering and design firm focused on renewables, power, real estate and public infrastructure end markets. Blackstone will acquire its position in Westwood from Endurance Partners, with Westwood’s management team and employee shareholders retaining a minority stake. With a team of more than 1,600 employees, Westwood provides front-end engineering design services supporting the development of renewable energy generation, investment in the power grid and the continued buildout of public and private infrastructure across the United States.

Darius Sepassi, Senior Managing Director, and Mitchell Nimocks, Managing Director, at Blackstone Energy Transition Partners, said: “Westwood provides crucial expertise and resources to support the increasing adoption of renewables and investment in power systems throughout the U.S. and is well positioned to continue building upon its impressive growth. We look forward to combining the power of Blackstone’s global scale and resources with Westwood’s talent to expand and enhance its valued partnerships with new and existing clients across the renewables, power, land development and public infrastructure value chains.”

David Foley, Global Head of Blackstone Energy Transition Partners, added: “Our partnership with the exceptional Westwood management team builds upon our recent energy transition investments including Trystar and Sediver, providing critical services and equipment needed to facilitate the transition to more reliable, affordable and cleaner energy. With the signing of this investment, Blackstone Energy Transition Partners will have committed approximately $1.3 billion in control-oriented equity investments in the energy transition since June.”

“Throughout its 50+ year history, Westwood has sought to enhance communities by providing critical engineering and design services to our clients,” said Bryan Powell, CEO of Westwood. “We are excited about this new partnership with Blackstone as it positions the Company to continue expanding its capabilities in Westwood’s key end markets of renewable energy, power, land development, and public infrastructure, which are each poised to benefit from long-term growth tailwinds. We appreciate the support of Endurance Partners in helping scale Westwood into the business that it is today.”

Gerald Parsky, Chairman of Endurance, and Larry Bossidy, Chairman of Westwood, said: “Westwood is an established leader in multi-disciplined professional services for the AEC industry, and we are pleased to have invested in and partnered with this management team, who have built a business that is poised to flourish in their new partnership.”

Terms of the transaction were not disclosed. Blackstone was represented in the transaction by Morgan Stanley & Co. LLC as financial advisor and Kirkland & Ellis as legal advisor. Perella Weinberg Partners LP served as exclusive financial advisor to Westwood. Gibson, Dunn & Crutcher LLP acted as counsel to Westwood and Endurance Partners.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About Westwood Professional Services, Inc. (Westwood)
Westwood is a leading, award-winning, full-service, professional engineering firm specializing in wind energy, solar energy, energy storage, power delivery, EV infrastructure, commercial, institutional, residential, and public infrastructure projects. Westwood was established in 1972. Through a focus on its people, culture, and clients, Westwood has quickly expanded to serve clients across the nation from multiple US offices. View more Westwood facts.

About Endurance Partners
Endurance is an investment group focused on partnering with exceptional management teams, bringing capital and resources to growing middle market companies, with a flexible mandate to hold for the long-term. Endurance brings together a world class group of executives with decades of private and public company leadership in the financial services, investment banking, private equity, and industrial sectors. Further information is available at www.endurance-partners.com.

Contact
Mariel Seidman-Gati
(646) 482-3712
Mariel.SeidmanGati@blackstone.com

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Equity Residential to Acquire $1 Billion Apartment Portfolio from Blackstone Real Estate

Blackstone

Chicago and New York – August 7, 2024 – Equity Residential (NYSE: EQR) and Blackstone (NYSE: BX) today announced that Equity Residential has agreed to acquire 11 apartment properties from Blackstone Real Estate strategies in separate transactions, including Blackstone Real Estate Income Trust, Blackstone Real Estate Partners and Blackstone Property Partners, for approximately $964 million. The transactions, which remain subject to customary closing conditions, are expected to close in the third quarter of 2024.

The properties, which are located in Equity Residential’s expansion markets of Atlanta, Dallas/Ft. Worth and Denver, total 3,572 apartment units and are on average eight years old. These properties are attractive to Equity Residential’s higher end renter demographic and accelerate its growth in these markets. Through its industry leading operating platform, Equity Residential expects to unlock additional opportunities and value with these properties. The portfolio consists of four properties with 1,357 apartment units in Atlanta, four properties with 1,237 apartment units in Dallas/Ft. Worth and three properties with 978 apartment units in Denver. In connection with this transaction, Equity Residential is reaffirming the earnings guidance provided in its Second Quarter 2024 Earnings Release on July 29, 2024.

“We are pleased to add these high-quality, well-located properties to our growing portfolios in Atlanta, Dallas/Ft. Worth and Denver at pricing that is attractive compared to replacement costs,” said Alec Brackenridge, Equity Residential’s Executive Vice President and Chief Investment Officer. “This transaction is a significant step in our goal of generating a higher percentage of our annual net operating income from these strong growth expansion markets. We appreciate partnering with Blackstone on this mutually beneficial transaction and look forward to continuing to grow the relationship.”

Asim Hamid, Senior Managing Director at Blackstone Real Estate, said, “This transaction represents an excellent outcome for our investors and demonstrates the strong institutional demand for high quality assets. Rental housing remains one of our highest-conviction themes, and we continue to see strong fundamentals in attractive markets. We’re pleased to have worked with EQR on this transaction, who will be an excellent steward of these properties going forward.”

Eastdil Secured, RBC Capital Markets, Santander and Sumitomo Mitsui Banking Corporation (SMBC) acted as Blackstone’s financial advisors. Simpson Thacher & Bartlett LLP served as Blackstone’s legal counsel. Neal Gerber & Eisenberg LLP, Hogan Lovells, and Bryan Cave Leighton Paisner LLP served as Equity Residential’s legal counsel.

About Equity Residential
Equity Residential is committed to creating communities where people thrive.  The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters.  Equity Residential owns or has investments in 299 properties consisting of 79,738 apartment units, with an established presence in Boston, New York, Washington, D.C., Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft. Worth and Austin.  For more information on Equity Residential, please visit our website at www.equityapartments.com.
 
About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $336 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).
 
Forward-Looking Statements
This press release contains forward-looking statements and information within the meaning of the federal securities laws. These forward-looking statements can be identified by the use of forward -looking terminology such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “identified,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates”, “confident,” “conviction” or other similar words or the negatives thereof. These statements may include financial estimates and their underlying assumptions and are based on current expectations, estimates, projections and assumptions made by management. While management believes the assumptions underlying its forward-looking statements are reasonable, such information is inherently subject to uncertainties and may involve certain risks, including, without limitation, changes in general market conditions, future operations, future performance and statements regarding identified but not yet closed acquisitions or dispositions. There are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such forward-looking statements. These factors and other risks and uncertainties are described under the heading “Risk Factors” in Equity Residential’s or BREIT’s respective Annual Reports on Form 10-K and subsequent periodic reports and BREIT’s prospectus filed with the Securities and Exchange Commission (SEC), each of which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein (or in Equity Residential’s or BREIT’s respective public filings). Many of these uncertainties and risks are difficult to predict and beyond management’s control. Forward-looking statements are not guarantees of future performance, results or events. Except as otherwise required by federal securities laws, Equity Residential and BREIT do not undertake any obligation to update, revise or supplement forward-looking statements that become untrue because of new information, subsequent events or otherwise.

CONTACTS:

Equity Residential
Marty McKenna
mmckenna@eqr.com

Blackstone
Jeffrey Kauth
Jeffrey.Kauth@Blackstone.com

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Bain Capital to Acquire Somacis

BainCapital

Partnership with Chequers and Management Team to Accelerate Growth Agenda across Aerospace & Defence, MedTech and Industrial Technology Applications

LONDON, MILAN – August 7th, 2024 – Bain Capital, a leading global private investment firm, today announced it has agreed to acquire a controlling stake in Somacis, an Italian-headquartered manufacturer of high-mix / low-volume, high-specification and mission-critical printed circuit boards (PCBs) from Chequers Capital, who will reinvest into the Company alongside the management team, led by CEO Giovanni Tridenti. Other terms of the deal were not disclosed.

Somacis’ high-technology PCB solutions, built on strong engineering know-how and developed with client proximity, serve various high-performance end-markets such as Aerospace & Defence, MedTech, and Datacentres / AI, among several others. The business operates across the full value chain, offering R&D prototyping, ramp-up, and end-to-end production. Somacis was founded in 1972 and has expanded in recent years through organic investments and selected, on-strategy acquisitions. It maintains a global footprint composed of five state-of-the-art facilities in Europe, North America and Asia.

Ivano Sessa, a Partner and Co-Head of European Industrials at Bain Capital said: “Given its strength in the market, Somacis is well positioned to benefit from sustainable long-term re-shoring tailwinds which increase the demand for PCBs manufactured in the US and EU. We are pleased to back one of the leaders in its field.”  Giacomo Massetti, a Managing Director at Bain Capital, added: “We look forward to working alongside Giovanni Tridenti, the management team and Chequers to accelerate growth organically and through M&A, drawing on our knowledge of global industrials value chains, and leveraging our internationalization playbook (grounded on our experience with companies such as Fedrigoni and Ahlstrom), as well as our relevant end-market sector expertise (through companies like ITP Aero)”.

Giovanni Tridenti, CEO of Somacis said: “I would like to thank Chequers for their valuable partnership and outstanding work over the past years and am pleased that they will remain invested alongside our fully committed management team as we are joined by Bain Capital. We are excited for Bain Capital to bring its expertise in international development and operational capabilities to further enhance our global reach and help us fulfil our long-term ambitions, which are underpinned by a mix of organic and inorganic strategic growth initiatives, and on the strengthening of the value-add proposition to our customers.”

Philippe Guérin, Chequers Capital’s Managing Partner commented: “Over the past years, we have worked alongside the Somacis management team to strengthen the Company’s operations and positioning and to make strategic acquisitions. We are very pleased to reinvest alongside Bain Capital and such an excellent management team with the goal to become the number one global player in our segment.”

The transaction is subject to approval by regulatory authorities.

Morgan Stanley and Bank of America acted as financial advisors to Bain Capital. Jefferies acted as exclusive financial advisor to Chequers and Somacis, with a team led by Jefferies’ Head of Italy Investment Banking Mauro Premazzi.

About Somacis
Headquartered in Italy, Somacis is one of the leading high-mix, low-volume focused PCB manufacturers, with more than 1,700 employees and production plants in Europe, North America and Asia. For more than fifty years Somacis has been a dynamic company producing high-tech and innovative PCB solutions.
Somacis supplies HDI, rigid, rigid-flex and flex PCBs for mission critical and value-added production requirements for the Aerospace, Defence, and Medical Technology industries. It also supplies high-specification applications in high-mix, low-volume PCBs for other high-growth applications including Datacentres/AI, Advanced Driver Assistance Systems (ADAS), Semiconductor Testing, and other industrial technology applications.

About Bain Capital Private Equity
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 280 investment professionals creates value for its portfolio companies leveraging its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital Private Equity has 23 offices on four continents. Since its inception, the firm has made primary or add-on investments in more than 1,150 companies. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $185 billion in total assets and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.

About Chequers Capital
Chequers Capital is a pan-European investment company with 25 investment professionals focusing on investments in the Benelux, France, the DACH region, and Italy. Founded in 1972, Chequers is one of Europe’s oldest private equity houses with over €3bn of assets under management and investments in more than 350 companies, today investing from fund XVIII. The focus is on companies operating in a B2B environment with strong underlying potential, where it can work with founders and management teams to create robust, well-positioned companies with excellent long-term prospects.

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KKR to acquire majority position in FGS Global to support long-term growth; FGS to become standalone communications and public affairs consultancy

KKR

NEW YORK & LONDON–(BUSINESS WIRE)– KKR today announced the acquisition of WPP’s full equity position in FGS Global (“FGS” or the “Company”), the preeminent global communications and public affairs consultancy. The proposed transaction is supported by FGS management, builds on KKR’s initial minority investment in July 2023, and values FGS at US $1.7 billion. The investment underscores KKR’s deep conviction in FGS’s vision and strategy to be the leading global communications advisor helping clients navigate the increasingly complex stakeholder economy. As a result of the transaction, the equity interest of FGS’s over 500 employee shareholders will be approximately 26% of the company.

Since KKR’s initial minority investment in July 2023, FGS has benefitted from KKR’s access to global resources, network and expertise in building best-in-class global enterprises. Both KKR and FGS are focused on enhancing the Company’s growth and extending its leading position as a global advisor to Boards and C-suites in business-critical situations. FGS will continue to be a partner-led firm, managed by the existing leadership team. KKR is committed to supporting FGS’s ambitious growth plans while ensuring FGS continues to uphold the highest standards of independence, client confidentiality and trust.

Philipp Freise, Partner and Co-Head of European Private Equity at KKR, stated: “Our investment in FGS reflects our strong commitment to strategic partnerships, where we provide long-term capital and global resources to entrepreneurial teams and world-class businesses. We strongly believe in FGS’s strategy and leadership and have been pleased with our partnership since our minority investment in July 2023. In today’s increasingly complex stakeholder ecosystems, the value of FGS’s insight, advice and execution is increasingly essential for organizations to navigate uncertainty and achieve their goals. We look forward to continuing our collaboration and helping FGS realize their vision as a global category leader.”

Alex Geiser, Global CEO of FGS, said: “Our enhanced strategic partnership with KKR is a clear signal of their confidence in our ability to scale and enhance our position as the preeminent consultancy helping leaders successfully navigate the stakeholder economy. With KKR’s reinforced support, we’re poised to accelerate our growth, attract and empower new talent, and further our commitment to value creation that benefits all our stakeholders, especially our clients and employees. Together, we are ideally positioned to lead growth and innovation of the industry as FGS moves into its next phase as a standalone firm.”

Roland Rudd, Global Co-Chair of FGS added: “I would like to thank WPP for their longstanding partnership. I am particularly grateful to WPP Chair Roberto Quarta and WPP CEO Mark Read for their support as we have grown FGS Global into what it is today. I am delighted that KKR is now backing FGS to become the undisputed global leader in our sector.”

KKR is making the investment in FGS primarily through its European Fund VI, an $8 billion fund that invests in the growth of leading businesses by providing access to KKR’s extensive network and business building resources. Recent investments from the European Fund VI include OHB, nexeye, Superstruct and Accountor. One of the core strategies of KKR’s European Private Equity team is investing alongside founders, entrepreneurs and corporates to provide flexible capital for strategic partnership transactions. The FGS investment follows a similar thematic pursued through KKR’s 2021 investment in ERM, the world’s largest global pure play sustainability consultancy.

The transaction is expected to close by the end of the year, subject to regulatory approvals and other customary closing conditions.

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 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 the Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About FGS

FGS Global is the preeminent global communications and public affairs consultancy, with approximately 1,400 professionals around the world, advising clients in navigating complex stakeholder situations and reputational challenges. FGS was formed from the combination of Finsbury, The Glover Park Group, Hering Schuppener and Sard Verbinnen & Co to offer board-level and C-suite counsel in all aspects of strategic communications — including corporate reputation, crisis management, and public affairs and is also the leading force in financial communications worldwide.

FGS offers seamless and integrated support with offices in the following locations: Abu Dhabi, Amsterdam, Beijing, Berlin, Boston, Brussels, Calgary, Chicago, Dubai, Dublin, Düsseldorf, Frankfurt, Hong Kong, Houston, Kingston, London, Los Angeles, Munich, Paris, Riyadh, San Francisco, Shanghai, Singapore, Tokyo, Toronto, Washington, D.C., South Florida, Vancouver and Zurich. The firm is headquartered in New York.

FGS is consistently ranked a Band 1 PR firm for Crisis & Risk Management and for Litigation Support by Chambers and Partners. For the second year, FGS was ranked #1 Global M&A PR firm by Deal Count and Value in 2023 by Mergermarket.

KKR
Julia Leeger/ Miles Radcliffe-Trenner
media@kkr.com

FGS Global
Dorothy Burwell / Jennifer Loven / Dirk von Manikowsky
mediaglobal@fgsglobal.com

WPP
Chris Wade / Richard Oldworth
press@wpp.com

Source: KKR

 

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EQT to acquire a majority stake in Acronis, a leading cybersecurity and data protection platform for Managed Service Providers and corporate IT departments

eqt

The partnership between Acronis and EQT, the global investment organization, builds upon a shared growth vision, commitment to accelerating the expansion of its platform, and continued focus on customer service

 

Acronis (the “Company”) and EQT are pleased to announce that the EQT X fund (“EQT”) will acquire a majority stake in the Company. The founders, management, and existing investors – including funds and accounts managed by CVC, Springcoast and BlackRock Private Equity Partners – will remain as significant minority shareholders. Acronis is valued in the transaction above the last growth funding round which was completed in 2022.

Founded in 2003, Acronis is a leading IT solutions vendor for Managed Service Providers, offering a natively integrated, highly efficient cybersecurity and data protection platform. In a market where data and workloads are growing and businesses increasingly recognize the importance of cybersecurity, Acronis enables customers to outsource IT capabilities while ensuring high standards of data security, integrity and reliability. Through its Managed Service Providers channel, Acronis is well positioned to continue scaling its network rapidly. With 15 offices around the globe and more than 1,700 employees, Acronis’ network spans over 150 countries enabling over 20,000 Service Providers to protect over 750,000 businesses.

Johannes Reichel, Partner and Co-Head of Technology within EQT’s Private Equity advisory team, said: “Acronis is a strongly positioned cybersecurity and data protection software platform with a clear value proposition to Managed Service Providers. EQT has followed the company’s journey for many years and continues to be impressed by its performance and innovative strength. We are very excited to partner with Acronis, the management team and existing investors on its next phase of growth.”

Ezequiel Steiner, CEO of Acronis, stated: “We are thrilled to have EQT as a major shareholder to support our strategic expansion and share our vision for growth. We would like to thank our existing investors for their support to date and are pleased that many will remain invested as we move forward. But most of all, I’d like to thank the Acronis team for their work in getting us to this stage.”

Commenting on Acronis’ product suite, Phil Goodwin, research vice president of IDC, said: “Data protection is foundational to cybersecurity, and the two are increasingly tightly integrated. Acronis’ architecture of integrated data protection, cybersecurity, and remote management in a single, customizable platform enables MSPs and corporate IT departments to establish robust cyber preparedness for their business with simplicity and reliability.”

The completion of this transaction is pending customary regulatory approvals and is anticipated to take place in Q1-Q2 2025. EQT was advised by Milbank (Legal) and Bär & Karrer (Legal).

With this transaction, EQT X is expected to be 40 – 45 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

Contact
EQT international enquiries: Finn McLaughlan, EQT, finn.mclaughlan@eqtpartners.com
EQT DACH enquiries: Isabel Henninger, Kekst CNC, isabel.henninger@kekstcnc.com
Acronis enquiries: Katya Turtseva, Acronis, et@acronis.com

About

About EQT
EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 133 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 Acronis
Acronis is a global cyber protection company that provides natively integrated cybersecurity, data protection, and endpoint management for managed service providers (MSPs), small and medium businesses (SMBs), and enterprise IT departments. Acronis solutions are highly efficient and designed to identify, prevent, detect, respond, remediate, and recover from modern cyberthreats with minimal downtime, ensuring data integrity and business continuity. Acronis offers the most comprehensive security solution on the market for MSPs with its unique ability to meet the needs of diverse and distributed IT environments.

A Swiss company founded in Singapore in 2003, Acronis has 15 offices worldwide and employees in 50+ countries. Acronis Cyber Protect is available in 26 languages in 150 countries and is used by over 20,000 service providers to protect over 750,000 businesses. Learn more at www.acronis.com.

 

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Platinum Equity Acquires ASP Global

Platinum

LOS ANGELES (August 6, 2024) – Platinum Equity announced today the acquisition of ASP Global, a leading strategic partner to the healthcare industry that develops, sources and distributes consumable medical products for healthcare providers and distributors.

Financial terms were not disclosed.

Based in Atlanta, ASP leverages its global sourcing network to provide high-quality products that are customized to meet the specific needs of health systems, labs, GPOs and distributors. The company’s capabilities give customers control over the design and functionality of their products, helping them meet patient experience goals in a cost-effective manner.

“By providing direct sourcing solutions featuring customized, quality products, ASP has created an attractive value proposition. Based on our assessment, ASP’s business model has resonated with customers and has significant room for growth.”

Louis Samson, Co-President, Platinum Equity

ASP’s portfolio spans a diverse range of consumable product categories, including: lab supplies, blood collection, wound and injury protection, critical care, staff apparel and rehab mobility.

“Healthcare providers are intensely focused on managing costs and increasing control of their supply chains,” said Platinum Equity Co-President Louis Samson. “By providing direct sourcing solutions featuring customized, quality products, ASP has created an attractive value proposition. Based on our assessment, ASP’s business model has resonated with customers and has significant room for growth.”

Platinum Equity Managing Director Jason Price praised the company’s leadership as key to its success.

“ASP has an experienced management team that has articulated a compelling vision for the future,” said Price. “We have a shared belief in what ASP can become and are excited to get to work.”

ASP Global President and CEO Doug Shaver will continue to lead the company going forward.

“We are proud of the business ASP has built and have ambitious long-term plans to continue growing,” said Shaver. “Platinum’s expanded access to capital, M&A resources and operational expertise can help us achieve our goals and create new opportunities for ASP to serve the evolving needs of our customers.”

“ASP has a lot of runway to continue expanding organically and we expect to be active in pursuit of additional M&A opportunities, too,” added Price.

Platinum Equity currently owns healthcare products distributor NDC, which serves a different part of the medical supplies market. ASP and NDC will operate as separate, standalone companies in Platinum Equity’s portfolio.

Solomon Partners served as financial advisor to Platinum Equity on the ASP acquisition. Latham and Watkins served as legal counsel to Platinum Equity on the transaction.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.

About ASP Global

With headquarters in the Greater Atlanta Area, ASP Global partners with health systems, labs and healthcare providers to directly develop and source medical-surgical products and patient-preference items. ASP Global provides customized, comprehensive, clinically-sound supply programs that are designed to optimize their customers’ supply chains through streamlined processes, extensive global buying power, and a proven team of clinical, procurement, operations, logistics and regulatory experts.

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