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Charterhouse welcomes minority investors into Novétude Group

Charterhouse

May 09, 2025

Charterhouse Capital Partners (“Charterhouse”), one of the longest-established private equity firms operating in Europe, today announces that Peugeot Invest and Hayfin Capital have acquired minority stakes in Novétude Group, a new European healthcare education platform. The Group will be built around Novétude Santé, which Charterhouse has owned and grown since 2020. Charterhouse will retain a majority stake in the new platform.

Since partnering with Charterhouse, Novétude Santé has significantly expanded and professionalised its offering, developing a comprehensive and complementary suite of education programmes to meet the evolving needs of the healthcare sector, including in osteopathy, physiotherapy, sports and paramedical fields.

As a new platform built around Novétude Santé, Novétude Group stands to benefit from significant industry tailwinds; including the large and growing market of European students enrolled in health and welfare studies at private education institutions and an ageing population in Europe which brings increased demand for healthcare professionals and services.

Pierre de Sarrau, Partner at Charterhouse, said: “We are delighted to welcome Peugeot Invest and Hayfin Capital as partners as we continue to build, alongside Sami and the wider management team, one of the leading healthcare education platforms in Europe. Our experience with Novétude Santé and our expertise in internationalising and professionalising healthcare companies positions us well to support the exciting growth prospects of the new platform. We look forward to working in partnership with all involved to deliver on our ambitious plans for Novétude Group.”

Sami Rifai, CEO of Novétude Group, said: “Our ambition is to build from Novétude Santé to create Europe’s leading platform for higher education in healthcare. There is a deep and growing need for healthcare education and the quality of training is critical. I am confident that, with the continued backing of Charterhouse, as well as our new investors, Novétude Group, as a newly expanded platform, is well positioned to grow and help meet the huge demand for training of more healthcare professionals across Europe and internationally.”

Charterhouse pursues pan-European mid-market opportunities in two core sectors of focus: Healthcare and Services. It targets businesses that feature ‘defensive growth’ characteristics, combining strong market positions with sustained earnings growth, as well as significant growth potential.

Its investment in Novétude Santé closely aligns with Charterhouse’s strategy of pursuing transformational mid-market opportunities across Europe. It follows recent investments in ESTYA, a leading French services provider specialising in electronic fire safety and security systems, Skin Tech Pharma Group, a B2B medical aesthetics group, and Two Circles, a leading tech-enabled services and software business serving sports and entertainment clients.

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Charterhouse Capital Partners announces agreement to sell Casa Optima to Terlos LLP and co-investors27.05.2025Charterhouse achieves B Corp certification19.05.2025

Information on Novetude Santé

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Qlik Announces Close of Significant Investment Led by ADIA and Thoma Bravo

Thomabravo

With strong market adoption and platform innovation, Qlik continues advancing enterprise AI with discipline and scale

Philadelphia and San Francisco—Qlik®, a global leader in data integration, data quality, analytics, and AI, today announced the close of a previously disclosed significant minority investment led by a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). As part of the transaction, Thoma Bravo, a leading software investment firm, remains Qlik’s majority owner and has made a new equity investment alongside ADIA. A select group of institutional investors have also co-invested. The transaction, originally signed in November 2024, has now received all necessary regulatory approvals.

Qlik helps organizations move from AI ambition to execution by turning raw data into trusted insights and proactive decisions. Through a unified platform that integrates data, analytics, and governance, Qlik provides the foundation enterprises need to scale AI initiatives with confidence. Across industries, customers rely on Qlik to stay agile in the face of market shifts, global disruptions, and unexpected challenges.

“Support from Thoma Bravo and a long-term investor like ADIA reinforces the strength of our strategy and the results we’re delivering,” said Mike Capone, CEO of Qlik. “In a market full of AI ambition, Qlik stands out for execution—helping enterprises move fast, act with trust, and turn data into confident decisions. This investment enables us to stay focused and scale that impact.”

“Qlik has consistently executed against one of the most important challenges facing modern enterprises: turning data and AI into real business outcomes,” said Seth Boro, a Managing Partner at Thoma Bravo. “Our continued majority ownership and additional investment reflect our conviction in Qlik’s platform, its performance, and its ability to scale meaningful impact for customers worldwide.”

“Enterprises around the world are moving from experimentation to execution with AI, and that shift is accelerating demand for trusted, scalable solutions,” said Mike Hoffmann, a Partner at Thoma Bravo. “Qlik is uniquely positioned to meet this moment—at the intersection of data integration, governance, and analytics—making it a clear fit with our long-term thesis around mission-critical enterprise software. We’re proud of the significant growth Qlik has achieved since we took the company private in 2016 and are excited to continue this momentum with Mike and ADIA.”

Building on its recent acquisition of Upsolver and its advancements in agentic AI solutions and conversational analytics, Qlik continues to expand its unified platform for trusted, scalable AI. As enterprises invest in AI while seeking to lower costs and maintain trust across the AI value chain, Qlik is increasingly the partner of choice—enabling faster execution with open architectures, governed data, and real-time insights. Guggenheim Securities LLC served as financial advisor and Kirkland & Ellis LLP acted as legal advisor to Thoma Bravo and Qlik. Evercore served as financial advisor and Gibson, Dunn & Crutcher LLP served as legal advisor to ADIA.

About Thoma Bravo

Thoma Bravo is one of the largest software-focused investors in the world, with over US$179 billion in assets under management as of December 31, 2024. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo’s deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in approximately 520 companies representing approximately US$275 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo’s website at thomabravo.com.

About Abu Dhabi Investment Authority

Established in 1976, the Abu Dhabi Investment Authority (“ADIA”) is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation.

About Qlik

Qlik converts complex data landscapes into actionable insights, driving strategic business outcomes. Serving over 40,000 global customers, our portfolio provides advanced, enterprise-grade AI/ML, data integration, and analytics. Our AI/ML tools, both practical and scalable, lead to better decisions, faster. We excel in data integration and governance, offering comprehensive solutions that work with diverse data sources. Intuitive analytics from Qlik uncover hidden patterns, empowering teams to address complex challenges and seize new opportunities. As strategic partners, our platform-agnostic technology and expertise make our customers more competitive.

© 2025 QlikTech International AB. All rights reserved. All company and/or product names may be trade names, trademarks and/or registered trademarks of the respective owners with which they are associated.

Read the release on Business Wire here.

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Tyto Athene, an Arlington Capital Partners Portfolio Company, Acquires stackArmor Inc. to Expand Cyber Compliance and Cloud Capabilities for Government Customers

Strategic acquisition fuels Tyto’s accelerated growth in Federal IT and Cybersecurity Services

RESTON, Va. – May 8, 2025 – Tyto Athene, LLC (“Tyto”), a federal systems integrator of mission-focused digital transformation solutions, and portfolio company of Arlington Capital Partners (“Arlington”), has completed its acquisition of stackArmor, Inc., a premier provider of FedRAMP, FISMA/RMF and CMMC/DFARS compliance acceleration, cloud and security automation solutions for government agencies and the industrial base.

“The acquisition of stackArmor represents a significant milestone in Tyto’s growth strategy,” said Dennis Kelly, Chief Executive Officer of Tyto. “stackArmor’s innovative cyber, compliance and cloud automation solutions will immediately enhance our ability to support critical missions across defense, national security and public safety sectors. We’re excited to welcome co-founders Gaurav ‘GP’ Pal and Fawad Siraj and the entire stackArmor team to the Tyto family as we work together to help our customers achieve mission success.”

Tyto connects government and defense leaders with technologies to seamlessly integrate and modernize enterprise-level operations, increasing mission resiliency, capability and flexibility for U.S. agencies around the globe. As a wholly-owned subsidiary, stackArmor will provide Tyto with industry-leading cloud strategy, migration and cloud managed services for regulated industries in compliance with FedRAMP, FISMA, CMMC, HIPAA, StateRAMP, CJIS and NIST standards. stackArmor will also provide its cyber automation and continuous monitoring solutions, ThreatAlert ® Security Platform and Continuous ATO (cATO), to further bolster Tyto’s cyber support for government partners.

“By combining the capabilities of Tyto and stackArmor, we’re able to deliver secure and cost-efficient digital infrastructure that accelerates the mission of our government and defense customers through automation,” said Gaurav “GP” Pal, Principal of stackArmor. “We share a deep commitment to public sector innovation, and we look forward to joining the Tyto family to propel business growth and operational excellence.”

Since 2016, stackArmor has been a global trusted provider of compliance-based cloud solutions for the public sector. The Company’s trademarked ATO for AI™ and ThreatAlert® Security platforms have helped agencies across defense, space and healthcare markets reduce the time and cost of an ATO by 40%. Ranked #26 in the Top 100 Cloud Managed Services Providers, stackArmor will strengthen Tyto’s delivery of scalable cloud and compliance-driven solutions across the federal and defense landscape.

“The acquisition of stackArmor complements Tyto’s acquisitions of MindPoint Group and Microtel, underscoring our commitment to building a differentiated portfolio of mission-enabling technologies and services,” said Michael Lustbader, a Managing Partner at Arlington Capital Partners. “Their expertise in automation and cloud enhance Tyto’s position in delivering secure, compliant cloud solutions and support Tyto’s development into a premier end-to-end digital transformation partner for the Federal government.”

 

About Tyto Athene

Tyto Athene delivers secure, mission-critical technology solutions that empower defense, intelligence, and civilian agencies to modernize infrastructure, strengthen cybersecurity, and stay ahead of evolving threats. As a mission-driven integrator, we combine deep technical expertise with a hands-on, collaborative approach to ensure agencies have the tools needed for operational success. From network modernization to cyber defense, we help organizations turn data into actionable insights, enabling information dominance and greater mission effectiveness. Our commitment to innovation and customer success drives us to deliver solutions that enhance security, resilience, and communications across the government landscape. Headquartered in Reston, VA, Tyto has eleven offices in the U.S. and Europe. For more information, visit https://gotyto.com/ or follow Tyto on LinkedIn.

 

About Arlington Capital Partners

Arlington Capital Partners is a Washington, D.C.-area private investment firm specializing in government-regulated industries. The firm partners with founders and management teams to build strategically important businesses in the government services and technology, aerospace and defense, and healthcare sectors. Since its inception in 1999, Arlington has invested in over 175 companies and is currently investing out of its $3.8 billion Fund VI. For more information, visit Arlington’s website at https://arlingtoncap.com/.

 

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Arlington Capital Partners

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Bain Capital and Oliver Street Capital Acquire 11-Property Infill Industrial Portfolio in Northern New Jersey

BainCapital

BOSTON – May 08, 2025 – Bain Capital and Oliver Street Capital (“OSC”) announced the acquisition of an industrial portfolio primarily located in the Northern New Jersey market for $208 million. The private, off-market transaction was completed via a joint venture between Bain Capital’s Real Estate team and OSC that focuses on acquiring high-quality, infill industrial properties in select, supply-constrained markets.

The value-add portfolio consists of 11 Class B warehouses spread across top infill submarkets in Northern New Jersey and represents a combined 784,000 square feet. The light industrial properties feature desirable warehouse suite sizes averaging 23,000 square feet. The portfolio is currently 88% leased to a mix of local and national tenants.

“This is a compelling opportunity to meaningfully scale and diversify our infill industrial portfolio in the Northern New Jersey market, one of the country’s most supply-constrained and strategically important warehouse markets serving the unmatched consumption base of the New York City MSA,” said Ryan Cotton, Head of Bain Capital’s Real Estate team. “This portfolio is tailor-made for our thematic infill strategy, with the majority of properties concentrated in our highest conviction submarkets. As demand continues to shift toward smaller-format facilities, we continue to see significant opportunities to partner with OSC to invest in these infill industrial assets in high demand by a diverse tenant base.”

This portfolio transaction represents Bain Capital and OSC’s fifth acquisition in Northern New Jersey since the firms expanded their joint venture to the region in late 2023, and positions the joint venture as one of the leading infill industrial buyers of scale in the New York City MSA.

“This transaction marks a watershed moment in our platform’s expansion into the Northern New Jersey Market, raising our presence to 15 assets within two years,” said Jon Hyde, Managing Principal of OSC. “We continue to have high conviction in the Northern New Jersey industrial market.”

“We’re building a truly unique multi-market portfolio of functional and irreplicable warehouses in highly infill locations, which is a testament to our relationships and the great local networks that help us source, lease, and manage the assets,” added Jon O’Donnell, Managing Principal of OSC.

Since launching their joint venture in 2019, Bain Capital and OSC have acquired 62 assets totaling over 6 million square feet in more than 45 separate transactions. With over $1.5 billion of capital deployed to date, the partnership remains focused on expanding its best-in-class portfolio in the New York/New Jersey region, Boston, and Washington, D.C.

About Bain Capital Real Estate

Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested and committed over $9 billion of equity across multiple sectors. Bain Capital Real Estate focuses on assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate’s strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm’s global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities. Bain Capital is one of the world’s leading private investment firms with approximately $185 billion of assets under management. For more information, visit https://www.baincapitalrealestate.com.

About Oliver Street Capital

Founded in 2014, Oliver Street Capital is a Boston-based real estate investment manager focused on acquiring, financing, and managing high-quality industrial real estate assets in supply-constrained markets. Its principals have more than four decades of combined experience. The Oliver Street team currently owns and operates infill industrial properties in Boston, New Jersey, Northern Virginia, and Maryland. To find out more, visit www.oliverst.com

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Redwood Services Announces Strategic Investment from Altas Partners

Altas Partners

MEMPHIS, Tenn.–Redwood Services (“Redwood”), a leading national platform in the essential home services sector, today announced a significant equity investment from Altas Partners (“Altas”), a North American investment firm. The transaction, expected to close in the second quarter of 2025 pending regulatory approvals, marks the expansion of Redwood’s investor group alongside founding backer Union Main Group. Terms of the transaction were not disclosed.

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Today, Redwood supports over 2,500 employees and generates more than $500 million in annual revenue. Over the years, Redwood has built a proven partnership model and a robust national platform—with an emphasis on scaling with discipline, preserving culture, and driving and supporting consistent performance across its family of brands.

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“Altas is the ideal partner as we embark on our next phase of growth,” said Richard Lewis, Founder and CEO of Redwood Services. “We’ve built a nationwide, people-first platform that empowers elite contractors through local alignment and world-class support. Our Partner Support Center helps our Partners unlock their full potential, enabling them to deliver exceptional service and build lasting customer relationships. We’re proud of what we’ve built, and we’re just getting started.”

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The investment will enable Redwood to further strengthen its infrastructure, expand strategic partnerships, accelerate tuck-in acquisitions across the U.S., and continue to help its local brands operate at the highest level.

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“Altas shares our vision and deeply values what we’ve built,” said Adam Hanover, Co-Founder and CEO of Union Main Group and Chairman of Redwood’s Board. “Their experience scaling businesses from our size to several times larger—combined with their genuine respect for Redwood’s culture, partnership model, and Partner Support Center team—makes them an ideal partner for this next chapter. We’re excited to welcome them to the team.”

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Altas brings a distinct approach to partnerships given its focus on completing only one or two significant investments each year, allowing for deep engagement and meaningful collaboration. Altas has a strong track record of helping leading services businesses like Redwood grow significantly larger and more valuable—by enhancing capabilities while preserving each company’s unique culture. In recent years, this approach has led to the development of the leading commercial roofing service provider and the leading independent fire and life safety provider in the U.S.

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“We’ve spent several years studying the home services and residential HVAC space, and Redwood stands out as one of the premier platforms in the industry,” said Michael Korzinstone, Partner at Altas. “Redwood’s impressive team, disciplined approach to growth, strong local alignment, and mission-driven culture set it apart from others in the industry. Given our track record of helping scale leading services businesses in other sectors, we are confident we can provide the support and capabilities to help Redwood accelerate its growth while preserving what makes it exceptional.”

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Advisors

Piper Sandler & Co. served as Redwood’s financial advisor. Debevoise & Plimpton LLP and Burch, Porter & Johnson, PLLC served as legal counsel to Redwood. Baird and Deutsche Bank served as Altas’ financial advisors. Kirkland & Ellis LLP served as legal counsel to Altas.

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About Redwood Services

Founded in 2020 and headquartered in Memphis, Redwood Services is a nationwide people-focused platform dedicated to empowering elite contractors in the essential home services industry. Redwood provides world-class resources, coaching, and strategic partnerships to 19 leading companies across the United States, enabling its Partners to deliver exceptional HVAC, plumbing, and electrical services to residential customers. Redwood’s mission is to unleash the full potential of its Partners, supporting them in providing high-quality service and building lasting relationships with customers. For more information, visit www.redwoodservices.com.

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About Altas Partners

Altas Partners is a North American investment firm focused on selectively acquiring significant interests in high-quality businesses with meaningful growth potential. Altas focuses on sub-sectors where it has deep expertise, seeking one or two compelling investment opportunities each year. The Firm’s patient investment philosophy and engaged approach to ownership distinguish Altas as a buyer of choice for many management teams and founders. The Firm was founded in 2012 and operates from offices in Toronto and New York. Altas manages more than $10 billion on behalf of leading institutional and family office investors from around the world. For more information, visit www.altas.com.

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About Union Main Group

Union Main Group is a long-term holding company that owns and operates a concentrated portfolio of essential business services companies. Founded and led by Marc and Adam Hanover, Union Main is backed by a close-knit group of entrepreneurial investors, including Bill Conway (Co-Founder, The Carlyle Group), Pitt Hyde (Founder, AutoZone), and Mitchell Blutt and Kevin Livingston (Founders, Consonance Capital). Union Main builds and scales businesses in partnership with exceptional operators, and has selectively partnered with large-cap investment firms—while continuing to hold significant stakes as its companies enter new chapters of growth. For more information, visit www.unionmain.us.

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Baird Capital Hires Benjamin Hanessian

Baird Capital

CHICAGO– May 8, 2025 – Today, Baird Capital announced that Benjamin Hanessian has joined its Global Portfolio Operations team as Principal – Portfolio Operations in Chicago. Hanessian will partner with teams across Baird Capital’s Private Equity and Venture Capital strategies to fuel innovation and accelerate growth.

Hanessian joins Baird Capital in Chicago from Vista Equity Partners where he served as Value Creation Director. His experience with value creation spanned across numerous diverse stakeholder groups, and he has strong experience leading efforts for right-sizing, restructuring and offshoring portfolio companies. Before Vista Equity Partners, he was with McKinsey. Hanessian attended Tufts University and received his MBA from the University of Chicago Booth School of Business.

We are thrilled to welcome Benjamin to the Baird Capital team. His extensive portfolio operations experience will strengthen Baird Capital’s valuation creation platform to help our companies navigate this uncertain environment and build strong foundations for future growth.

Gordon Pan, President, Baird Capital

Bringing Benjamin on board is an exciting step for Baird Capital. His deep expertise in value creation will enhance Baird Capital’s support for our portfolio companies’ professionalization, go-to-market strategies, and growth plans. We are eager to see how his fresh perspective further builds value across our portfolio.

Dennis Hall, Partner – Head of Portfolio Operations, Baird Capital

Baird Capital is a lower-middle-market investor that seeks opportunities to invest more than financial capital; instead, partnering with companies where it can deliver additive resources, relationships, and expertise to accelerate growth.

For more information on Baird Capital and its global private equity and venture capital teams, please visit BairdCapital.com.

About Baird Capital

Baird Capital manages two investment platforms: Global Private Equity and U.S. Venture Capital and makes investments in B2B technology & services-focused companies in North America and the UK. Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams worldwide, a proactive portfolio operations team and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. Committed to being a great place to work, Baird ranked No. 13 on the 2025 Fortune 100 Best Companies to Work For® list – its 22nd consecutive year on the list. For more information, please visit BairdCapital.com.

For additional information, contact:

Baird Public Relations
publicrelations@rwbaird.com

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TA Announces All-Cash Offer to Acquire FD Technologies, Owner of Global Real-Time Analytics Leader KX

TA associates

BOSTON, NEW YORK & LONDON – TA Associates Management, L.P. (“TA”), a leading global private equity firm, today announced that it has reached an agreement with the Board of Directors of FD Technologies PLC (“FD Technologies”) a company listed on the AIM market of the London Stock Exchange (FDP.L), on the terms of an all-cash acquisition of the entire issued and to be issued ordinary share capital of the company. The acquisition will be completed through a newly formed entity, Bidco, wholly owned by funds advised by TA.

The offer values FD Technologies at approximately £570 million, representing a premium of 27% to the closing price of £19.28 per FD Technologies Share on 6 May 2025, and a premium of 51% to the twelve-month volume-weighted average price of £16.24.

Under the terms of the acquisition, TA will acquire a majority stake in FD Technologies, with existing shareholders retaining a meaningful minority interest. The transaction marks a significant milestone for FD Technologies, following the divestiture of its consulting business in late 2024 and its transition to a pure-play enterprise software company centered on KX.

KX is a recognized global leader in time-series and real-time analytics technology, trusted by financial institutions, aerospace and defense organizations, high-tech manufacturers and other data-intensive industries. Its high-performance database and AI-ready analytics platform empower organizations to unlock the full value of their data with speed and accuracy.

“KX’s high performance data and analytics software supports fast-moving, data-intensive organizations and is foundational to the AI and analytics stacks of global enterprises,” said Ashok Reddy, CEO of KX. “TA’s strategic and operational expertise will support our mission to accelerate product innovation and deepen our impact across high-growth, high-value verticals.”

“With decades of experience investing in and scaling leading enterprise software companies, TA has developed a deep understanding of what it takes to build enduring platforms,” said Hythem El-Nazer, Co-Managing Partner of TA. “That perspective gives us a strong appreciation for the unique position KX holds in today’s fast-moving, data and AI-driven environment. We believe the company is well positioned to meet the growing demand for real-time insights and help global organizations operate at the speed of data. We’re excited to partner with Ashok and the KX team to accelerate their vision.”

This announcement should be read in conjunction with the Rule 2.7 announcement available on the London Stock Exchange RNS here.

Latham & Watkins LLP is serving as legal adviser to Bidco and TA, with Jefferies International Limited serving as financial adviser.

About KX
KX software powers the time-aware data-driven decisions that enable fast-moving companies to outpace competitors, realizing the full potential of their AI investments. The KX platform delivers transformational value by addressing data challenges related to completeness, timeliness and efficiency, ensuring companies understand change over time and can achieve faster, more accurate insights at any scale, cost-effectively. KX is valuable to the operations of the world’s top investment banks, aerospace and defense, high-tech manufacturing, healthcare and life sciences, automotive and fleet telematics organizations. The company has established offices and a robust customer base across North America, Europe, and Asia Pacific. For more information, visit: www.kx.com.

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Bain Capital and Botanic Properties Acquire Greater Boston Property for Biomanufacturing Conversion

BainCapital

The firms’ GenesisM platform, which is dedicated to developing purpose-built biomanufacturing facilities, will redevelop 45 Crosby Drive in Bedford, MA

BOSTON and NEW YORK  –  May 7, 2025 – Bain Capital’s Real Estate team (“Bain Capital”) and Botanic Properties (“Botanic”), a real estate investment and development firm focused on addressing the unique needs of the biomanufacturing industry, today announced the acquisition of 45 Crosby Drive in Bedford, Massachusetts.  The investment is being made by GenesisM, a specialized real estate platform dedicated to developing purpose-built biomanufacturing facilities.  Financial terms of the purchase were not disclosed.

Bain Capital and Botanic formed GenesisM to offer life science tenants a best-in-class real estate solution for their clinical and commercial manufacturing needs.  GenesisM’s Enhanced Core design delivers a robust initial build-out that reduces tenant fit out time and construction costs.  The design allows companies to better align their manufacturing spend and scale with product maturity while shortening the lead time for facility delivery.

The redevelopment of 45 Crosby Drive will transform the property into an approximately 154,000-square-foot, state-of-the-art Class A biomanufacturing facility designed to meet the specialized needs of leading biotech companies.  The facility will feature industry leading specifications including 12,000 amps of incoming electrical power, 27-foot ceiling heights, up to 18 loading berths, 40’x 40’ column spacing, and a strategic delivery that will allow multiple tenants to operate highly regulated independent facilities.  The property is situated on a prominent 15-acre site along the Route 3 corridor, which is home to a cluster of life science, manufacturing, and technology companies; providing convenient access for a regional workforce and to the heart of Kendall Square, one of the world’s leading biotech hubs.

“We developed the strategy for GenesisM to support biomanufacturing tenants struggling with high capital costs, long construction timelines and lack of access to purpose built biomanufacturing space at the right scale for their needs,” said Joe Marconi, Partner at Bain Capital.  “This is an exciting and meaningful opportunity to leverage our deep experience in life science real estate to deliver purpose-built facilities designed with a true understanding of the needs of the end users, while addressing the primary pain points for tenants in today’s market – capital efficiency and speed to market.  We look forward to the continued growth of GenesisM with our partner Botanic Properties as we work closely to position 45 Crosby Drive as a premier destination for biopharmaceutical companies seeking modern, efficient, and flexible manufacturing space.”

Bain Capital’s Real Estate team has invested in over 7 million square feet of life science real estate since 2013 and currently owns and operates a portfolio of over 5 million square feet in key strategic U.S. life science markets.

“Botanic is fortunate and proud to have found a partner in Bain Capital that truly understands the real estate needs of the life science industry,” said Joshua Zinns, Managing Principal of Botanic Properties.  “Their commitment to the industry and market insights derived from across the firm’s healthcare platform give us the ability to design and deliver world class biomanufacturing assets and to take a long term, strategic approach to delivering solutions for our tenants.”

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About GenesisM
GenesisM is a life science cGMP biomanufacturing brand that leverages the deep experience and global breadth of its owners to provide flexible, scalable solutions for growth stage biotech, CDMO and pharmaceutical companies, allowing end users to better align their biomanufacturing spend with drug maturity. GenesisM builds upon Bain Capital’s existing life science R&D real estate strategy (Genesis) and decades of leading experience in the Healthcare and Life Science industries, combined with Botanic Properties’ pioneering Enhanced Core design for cGMP biomanufacturing. GenesisM is focused on delivering best-in-class facilities that streamline operations with a cost-effective, infrastructure-ready approach, with the aim of adding efficiency and supporting expedited tenant growth and speed to market.

About Bain Capital Real Estate
Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested and committed over $9 billion of equity across multiple sectors. Bain Capital Real Estate focuses on assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate’s strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm’s global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities. Bain Capital is one of the world’s leading private investment firms with approximately $185 billion of assets under management. For more information, visit https://www.baincapitalrealestate.com/.

About Botanic Properties 
Botanic Properties was founded in 2016 as a New York-based real estate investment and development firm focused on addressing the unique needs of the life science industry. Botanic has current operations in New York, Philadelphia and Boston. The Company’s methodology for deal sourcing, underwriting and project execution is rooted in a multidisciplinary approach that prioritizes bottom-up market analysis, the technical study of tenants’ MEP and programmatic requirements and continuous improvement of design solutions for industry-driven planning and space needs.

Botanic has developed an entirely differentiated approach to delivering cGMP biomanufacturing space that focuses on addressing tenant pain points, including speed to market, security, confidentiality, flexibility and affordability.

In 2023, Botanic Properties and Bain Capital Real formed GenesisM, a new real estate operating platform with a mission to invest in, deliver and manage purpose-built biomanufacturing real estate. GenesisM’s initial focus has been in the Greater Boston market, given the City’s mature R&D market and substantial unmet need for clinical and commercial stage biomanufacturing space.

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Mainsail Partners Raises $1.535 Billion Fund VII to Help Bootstrapped, Founder-Led Software Companies Scale and Grow

Mainsail partners

Oversubscribed fund reflects Mainsail’s long-time, disciplined strategy of partnering with fast-growing software companies to help them realize their full potential

AUSTIN and SAN FRANCISCO (May 7, 2025) – Mainsail Partners, a growth equity firm that invests in bootstrapped B2B software companies to help them grow into market leaders, announced the closing of its seventh flagship fund, Mainsail Partners VII, L.P. (“Fund VII”), at the hard cap of $1.535 billion in limited partner capital commitments, the largest in the firm’s 22-year history. Strong support from existing and new investors allowed Mainsail to raise the oversubscribed fund in less than 100 days, bringing the total capital commitments raised by the firm to nearly $4 billion.

Since 2003, the team at Mainsail has been trusted by bootstrapped founders to help their companies scale and grow. With Fund VII, Mainsail will maintain its focus on the next generation of software companies that are customer-obsessed, have built successful products, and can leverage Mainsail’s experience and operational resources to help them achieve their visions for continued company, customer, and personal growth.

Mainsail’s 26-person portfolio-facing value creation team—which the firm believes is one of the largest and most specialized in growth equity—is comprised of former Heads of Product, Pricing and Sales, VPs of Marketing and CX, CTOs, CFO and legal professionals with decades of combined experience building fast-moving B2B software companies. They work shoulder-to-shoulder with founders and management teams to help scale and optimize the key areas that Mainsail believes are essential to capturing market leadership, including hiring and developing high-performing teams and cultures; building and expanding great products; growing and retaining the customer base; implementing scalable, data-driven systems – and now harnessing the power of AI to drive productivity and innovation.

Since closing its last fund in 2022, Mainsail has expanded its team by more than 20 professionals—including senior-level operators with deep experience spanning AI, customer experience, demand generation, pricing, product, and revenue operations—to deliver the next level of strategic support to portfolio companies, which the firm believes gives them a competitive advantage.

“We’re grateful for the continued trust of our existing investors and excited to welcome new investors into the Mainsail community,” said Gavin Turner, Managing Partner and co-founder of Mainsail Partners. “We have tremendous respect and admiration for the hard work, discipline and cultures that bootstrapped founders cultivate. The same way these founders obsess about delivering value to customers, we obsess about delivering support to our portfolio partners.  We remain focused on partnering with them and rolling up our sleeves to help them scale efficiently, deliver outstanding customer outcomes, and grow to become the next generation of market leaders using AI to drive competitive advantages and sustained performance.”

Mainsail has already completed two growth equity investments out of Fund VII in vertical market SaaS companies:

  • Inn-Flow secured $45 million from Mainsail to help accelerate innovation, enhance customer experience, and fuel growth for its all-in-one hotel management and accounting platform.
  • ChiroHD, a cloud-based practice management system for chiropractors, secured $26 million from Mainsail to help accelerate AI-powered product innovation, enhance platform experience, and expand customer support.

“As a founder, being customer-obsessed and culture-driven is core to how we operate and it’s why many of us started our companies—so it was critical to find an investor who shares those values,” said Caleb Frankel, founder and CEO of Instinct Science. “With Mainsail, we found collaborative, respectful partners who understand the mindset of bootstrapped founders and bring deep, hands-on operating experience to help us invest in our products and team, and ultimately serve our customers better. They’re supportive of our visions as founders, but they also constantly challenge us to expand the realm of what’s possible and be our best.”

Lazard served as placement agent for Fund VII and Kirkland & Ellis served as fund counsel.

About Mainsail Partners

Mainsail Partners is a growth equity firm that invests in bootstrapped B2B software companies to help them realize their full potential. Our team is purpose-built to include experienced investors and software operators who help founders build great teams, develop industry-leading products, design data-driven and scalable infrastructure, and grow market share. Mainsail’s hands-on support and best practices are delivered through a collaborative approach that respects founder-led cultures and helps build on each company’s commitment to its people and customers. With offices in Austin and San Francisco, Mainsail Partners has raised nearly $4 billion in committed capital and partnered with 100+ companies over the last 22+ years. For more information, visit www.mainsailpartners.com.

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Apax Funds successfully complete the offer for Norva24

Apax-Global-Alpha

Apax Funds, acting through Nordahl BidCo AB, today announce the successful completion of the offer for Norva24 Group AB (“Norva24” or the “Company”) – thereby becoming the owner of approximately 98 per cent of the outstanding shares and votes in Norva24.

Anders Meyerhoff, Partner, Apax, comments:

“We are pleased to announce that the Offer has been supported by shareholders representing over 98 per cent of the outstanding shares in Norva24, which means the Apax Funds are able to complete the Offer. The Apax Funds’ deep experience with density-driven businesses, coupled with Norva24’s solid position in an attractive market, will form a strong platform to accelerate the Company’s long-term vision to create a European leader in the UIM sector. We are now looking forward to supporting the executive management team and local business leaders to take Norva24 into its next phase of growth, both organically and via M&A.”

For additional information, including today’s announcement, please visit www.nordahl-bidco.com.

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https://www.norva24.com/

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