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Ardian Announces Sale of Acousti Engineering

Ardian

Ardian, a global private investment firm, today announced it has signed a definitive agreement to sell its majority stake in Acousti Engineering (“Acousti” or the “Company”), a leading specialty interiors contractor providing ceiling, drywall, and flooring solutions for institutional and commercial markets across the Southeastern United States, to Gamut Capital Management, L.P. (“Gamut”).

Under Ardian’s ownership, Acousti has successfully undergone a strategic repositioning, professionalizing its systems, enhancing its bench of leadership and refocusing the business on higher-margin specialty projects. Acousti also implemented innovative technology throughout its operations to improve jobsite execution, manage risk and create a scalable business, including launching an AI initiative to streamline its bidding process. Ardian’s North America Fund II first invested in Acousti, alongside management.

“With Ardian’s valuable support, Acousti has transformed from a family-owned business into one of the largest and most sophisticated interior finishes contractors, operating in more than 15 metropolitan areas and across a diverse set of end markets. We are proud of the team and platform we have built at Acousti and are grateful to Ardian for its partnership and guidance.” Jason Taylor, Chief Executive Officer of Acousti.

” Acousti has cemented its reputation for excellence, underscored by management evolution and investment in systems and technology. We are grateful for our close partnership with Acousti’s management team and are eager to see what the team will accomplish in this next chapter. Building on the impressive results achieved to date, we are confident that Acousti is well positioned for future success.” Todd Welsch, Managing Director, North America Fund, Ardian

“We are honored to have been a part of Acousti’s remarkable progress and development since our initial investment and are confident in the Company’s continued success and evolution under Gamut’s ownership. We are pleased by the significant value we have generated over the past five and a half years, and are delighted to be returning capital to our investors, especially in today’s challenging exit environment.” Kevin Kruse, Managing Director, North America Fund, Ardian.

Financial terms of the transaction were not disclosed. Lincoln International served as financial advisor to Ardian in connection with the sale of Acousti, and Sheppard Mullin served as legal advisor. The transaction is subject to customary closing conditions.

ABOUT ARDIAN

In a world of constant evolution, Ardian stands out for its ability to anticipate, adapt, and turn challenges into opportunities. As a global, diversified private markets firm with 22 offices and more than 350 investment professionals worldwide, we provide investment and customized solutions that reflect new economic dynamics and help our clients remain resilient in a changing world.
We deliver multi-local expertise and long-term performance for our investors and partners as well as shared value for the broader society. Since Ardian’s inception in 1996, our pioneering approach to diversification and our ability to offer tailor-made solutions at scale have remained the heart of our strategy.
Through commitment, knowledge and technology, we bring lasting value to our companies and contribute positively to the whole industry.
Ardian currently manages or advises $200bn for more than 1,920 clients worldwide across Private Equity, Real Assets, and Credit.
Ardian. Mastering change for lasting value.

ardian.com

Media contacts

Ardian

H/advisor Abernathy

ardian@h-advisors.global

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CapMan Growth invests in active gaming company CSE Simulation

Capman

CapMan Growth invests in active gaming company CSE Simulation

CapMan Growth Equity Fund III has signed an agreement for an investment in CSE Simulation, a Finnish active gaming company whose interactive gaming solutions encourage physical activity through engaging motion-based play. The investment supports the company’s ambition to further accelerate its international growth and strengthen its position as one of the global pioneers in active gaming.

CSE Simulation develops digital, movement-activated games that make physical activity enjoyable and accessible for people of all ages. The company’s products are used internationally across entertainment and hospitality venues, schools, as well as sports and recreation facilities. A vast majority of CSE Simulation’s revenue comes from global markets, reflecting strong demand for solutions that combine meaningful movement with high-quality digital gameplay.

“CSE Simulation is an exciting combination of positive impact, strong product innovation and impressive international traction,” says Oskari Elmén, Investment Director at CapMan Growth. “Their solutions lower the barrier to movement by making physical activity intuitive and fun. We especially appreciate the company’s role in encouraging physical activity among children and youth, as increasing movement among young people is highly important in our society. CSE Simulation is exceptionally well positioned to capture the significant growth potential in the global active gaming market, and we are pleased to support the team as they scale their international operations.”

CSE Simulation is led by founders Veli‑Matti Nurkkala (CEO), Kaisa Ottavainen‑Nurkkala (CFO) and Juha Kauppinen (CRO). The founding team has been instrumental in developing the company’s innovative product offering and has also played a key role in shaping the global active gaming market.

“We are very pleased to have CapMan Growth supporting our growth journey. Our views on future growth are strongly aligned, and we are committed to pursuing determined, long-term growth,” says Veli-Matti Nurkkala. “Despite a challenging operating environment, our group’s revenue grew last year. Uncertainty in our key markets in the United States and Europe was widely reflected in our business. The growth we achieved demonstrates the strength and adaptability of our operations. We have been developing CSE systematically for 14 years, and together with CapMan, we can bring the joy and experiences of physical activity to an even wider audience worldwide.”

This investment marks the seventh investment for CapMan Growth Equity Fund III.

For more information:

Oskari Elmén, Investment Director, CapMan Growth, +358 45 638 5568

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and 7.2 billion euros in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, real asset debt, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London, Luxembourg, and Düsseldorf. We are listed on Nasdaq Helsinki since 2001. www.capman.com.

About CSE Simulation

CSE Simulation is a Finnish active gaming company with a subsidiary located in Delaware, United States. The company develops movement-based, interactive gaming solutions for environments such as schools, activity parks, hotels, and airports. It employs 30 people, and its primary markets are in North America and Europe. The company’s mission is to make physical activity enjoyable and accessible through fun, high-quality digital experiences. Its products are used in 76 countries, and in 2025 alone, over 100 million gameplay sessions were recorded. www.cse.is

 

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Antin acquires Sapphire Gas Solutions from Apollo Funds

Antin

Acquisition of a vertically integrated energy solutions provider represents the eighth investment by Fund V

New York, Paris, London

Antin Infrastructure Partners announced today that it has acquired Sapphire Gas Solutions (Sapphire), a vertically integrated provider of compressed natural gas (CNG) and liquified natural gas (LNG) solutions, from funds managed by affiliates of Apollo (the Apollo Funds). The acquisition is being made by Antin’s Flagship Fund V.

Founded in 2005 and headquartered in Conroe, Texas, Sapphire provides critical, low carbon energy solutions to utility, commercial & industrial (C&I) and renewable natural gas (RNG) customers. The company owns and operates specialized infrastructure to compress, liquify, transport and store CNG and LNG for end users. It currently operates in 30 US states, serving over 120 customers.

Sapphire benefits from significant tailwinds within the US energy sector as C&I and data center load growth outpace existing infrastructure capacity and create a fundamental need for resilient, on-site energy solutions. Sapphire’s CNG and LNG solutions represent an economically attractive alternative and allow customers to reduce carbon emissions, especially when supplied as RNG. With Antin’s support, Sapphire is well positioned to capitalize on these favorable energy reliability and sustainability trends.

Founder and CEO Sam Thigpen will continue to lead Sapphire’s management team, which brings deep sector expertise and a proven track record of delivering unique technical solutions for its customers, complementing Antin’s expertise in investing in and growing infrastructure businesses.

The transaction represents the eighth investment by Antin’s €10.2 billion Flagship Fund V, a value-add fund that grows established infrastructure companies across Europe and North America in the energy and environment, digital, transport and social sectors.

Ryan Shockley and David Vence, respectively Senior Partner and Partner at Antin, commented: “We are delighted to be partnering with Sapphire to support the company’s next growth phase. Energy demand in the US is exceeding existing infrastructure capacity, making certainty of supply of integrated, low carbon natural gas solutions critical. Sapphire is ideally positioned to benefit from the long-term tailwinds driving the US energy sector, and we are greatly looking forward to working closely with Sam and his leadership team to seize the many growth opportunities ahead.”

Sam Thigpen, founder and CEO of Sapphire Gas Solutions, added: “I am excited to partner with Antin as Sapphire begins its next phase of growth. Apollo has been an exceptional partner over the past several years, helping us build a strong operational and financial foundation for the company. With Antin’s global infrastructure platform and long-term investment perspective, we believe Sapphire is well positioned to accelerate our expansion, deepen our presence across key markets and further support our customers’ energy infrastructure needs.”

Wilson Handler, Partner at Apollo, stated: “Over the course of our partnership with Sam and his team, Sapphire has achieved meaningful growth, expanding its integrated energy platform and accelerating its ability to deliver reliable, low-carbon solutions nationwide in support of secular industrial demand tailwinds. We are proud to have backed the company as it executed important operational and commercial initiatives to enhance its competitive positioning, while refocusing its contracting base toward highly creditworthy industrial, municipal and utility counterparties. We believe Antin’s deep infrastructure expertise makes them an ideal partner to build on this strong foundation as Sapphire continues to scale its business.”

TD Securities served as financial adviser to Antin and Kirkland & Ellis LLP served as legal counsel. RBC Capital Markets served as financial adviser to Sapphire Gas Solutions and the Apollo Funds, and Vinson & Elkins LLP served as legal counsel.

 

 

About Antin Infrastructure Partners

Antin Infrastructure Partners is a leading private equity firm focused on infrastructure. With over €33 billion in assets under management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, digital, transport and social infrastructure sectors. With offices in Paris, London, New York, Seoul, Singapore and Luxembourg, Antin employs over 250 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to portfolio companies and investors. Majority owned by its partners, Antin is listed on Euronext Paris (Ticker: ANTIN – ISIN: FR0014005AL0). For more information visit: www.antin-ip.com.

About Apollo

Apollo (NYSE: APO) is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2025, Apollo had approximately $938 billion of assets under management. To learn more, please visit www.apollo.com.

About Sapphire Gas Solutions

Founded in 2005, Sapphire is a vertically integrated provider of resilient, low carbon energy solutions to utility, C&I and RNG customers. The company owns a substantial fleet of specialized CNG and LNG assets to provide its customers across the US with reliable natural gas supply. www.sapphiregassolutions.com.

 

 

Contacts

Antin Infrastructure Partners

Thomas Kamm, Partner – Head of Communications

Email: media@antin-ip.com

 

Nicolle Graugnard, Communication Director

Email: media@antin-ip.com

 

Ludmilla Binet, Head of Shareholder Relations

Email: shareholders@antin-ip.com

 

Brunswick

Tristan Roquet Montegon

+33 (0) 6 37 00 52 57

Email: antinip@brunswickgroup.com

 

Sapphire Gas Solutions

Greg McReynolds

Vice President of Marketing & Communications

+1 (270) 293-6436

Email: gmcreynolds@sapphirenatgas.com

 

Apollo

Noah Gunn

Global Head of Investor Relations

+1 (212) 822-0540

IR@apollo.com

 

Joanna Rose

Global Head of Corporate Communications

+1 (212) 822-0491

Communications@apollo.com

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KKR Closes $23 Billion North America Private Equity Fund

KKR

Arctos will be part of KKR Solutions, a new investing business within KKR

NEW YORK–(BUSINESS WIRE)– KKR & Co. Inc., a leading global investment firm, today announced that it has closed its previously announced acquisition of Arctos Partners (“Arctos”), a premier institutional investor in professional sports franchise stakes globally and a leader in asset management solutions for sponsors. The transaction has received the specified sports league approvals required for closing.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260504956768/en/

Founded by Ian Charles and Doc O’Connor in 2019 and headquartered in Dallas, Texas, Arctos has the largest institutional portfolio of professional sports franchises and is a recognized innovator in providing strategic capital to asset management firms through structured solutions. The firm manages approximately $16 billion in assets under management and provides bespoke growth and liquidity solutions to sports franchises (“Arctos Sports”) and alternative asset managers (“Arctos Keystone” or “GP Solutions”).

“We are thrilled to welcome Arctos to KKR,” said Joe Bae and Scott Nuttall, Co-Chief Executive Officers of KKR. “Our firms have strong cultural alignment and shared entrepreneurial roots. Ian and Doc have built a highly distinctive market leading platform, and we look forward to partnering with them and their team to support the continued growth of the business and further strengthen KKR’s sourcing and origination capabilities.”

As a result of the transaction, Ian Charles, Doc O’Connor and the rest of Arctos have become part of KKR Solutions, a new investing business within KKR that is led by Ian Charles. KKR Solutions includes Arctos’ Sports and Keystone businesses and will serve as the home of a scaled multi-asset class secondaries business KKR will build over time.

“This transaction is a milestone for Arctos and our partners, representing the strength of our strategy and KKR’s belief in our team,” said Arctos’ Managing Partners Ian Charles and Doc O’Connor. “With KKR’s deep expertise and global platform, we are well positioned to accelerate our mission of building a differentiated investment platform that delivers innovative, tailored capital solutions to sports franchises and alternative asset managers, while expanding our impact across the industries we serve.”

About KKR

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

About Arctos

Arctos is an investment firm designed to catalyze growth and unlock value in complex, illiquid, and underserved markets. Founded in 2019, the firm’s investment businesses span capital solutions for alternative asset managers (Arctos Keystone) and premier sports franchises (Arctos Sports), delivering bespoke capital solutions, differentiated insights, and purpose-built operating capabilities to industry leaders in both markets. The firm’s innovative approach is anchored by its quantitative research and data science platform, Arctos Insights. Arctos has a team of more than 75 investment and operational professionals with expertise across industries, geographies, and economic cycles. The firm is headquartered in Dallas, with office locations in New York, Boston, and London. For more information, visit www.arctospartners.com or Arctos’ company page on LinkedIn.

Forward Looking Statements

This press release contains certain forward-looking statements pertaining to KKR, including with respect to Arctos. Forward-looking statements relate to expectations, beliefs, future plans and strategies, anticipated events and similar expressions concerning matters that are not historical facts and which can change as a result of many possible events or factors, not all of which are known to KKR or within its control, and, as a result, may vary materially. Information about factors affecting KKR, including a description of risks that should be considered when making a decision to purchase or sell any securities of KKR, can be found in KKR & Co. Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026, and its other filings with the SEC, which are available at www.sec.gov.

Investors
Craig Larson
1-877-610-4910 (U.S.) / 212-230-9410
investor-relations@kkr.com

KKR Media
Kristi Huller
media@kkr.com

Arctos Media
Prosek Partners
Pro-Arctos@Prosek.com

Source: KKR & Co. Inc.

 

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Apollo Funds Acquire Gatehouse Living Group from Gatehouse Bank

Apollo logo

NEW YORK, April 01, 2026 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Apollo-managed funds have acquired Gatehouse Living Group (“GLG” or “the Group”), a vertically integrated UK residential investment and management platform, from Gatehouse Bank (“GHB”). Financial terms of the transaction were not disclosed.

The Group is comprised of its investment arm, Gatehouse Investment Management (“GIM”), as well as its property management arm, Ascend Properties (“Ascend”). Together, the Group provides institutional investors with a comprehensive suite of operational services to originate and manage new build-to-rent single family housing. As a leader in the UK, the Group has established five platforms and successfully exited three, acquiring more than 5,000 homes from the UK’s largest housebuilders. Through Ascend, the Group manages more than 10,000 homes nationwide for both itself and third-party clients, nearly 4,000 of which are operated under the resident-facing white-label Ascend Living brand.

“GLG has led the growth of institutional rental housing, creating a prominent platform that strategically supports the sector and accelerates the delivery of much-needed high-quality housing throughout the UK,” said Paul Stockwell, Chief Executive Officer of GLG. “This transaction with Apollo is a testament to the strength of our holistic investment and property management platform and will support our continued expansion in the market.”

“GLG, under Gatehouse Bank’s stewardship, has established itself as a vertically integrated leader in the UK housing sector, supporting the supply of high-quality, professionally managed rental homes,” said Edward Jones, Partner at Apollo. “We look forward to working closely with management to further enhance and expand its operational capabilities and to supporting the platform’s continued success as the UK focuses on bolstering homebuilding across tenures and attracting more investment to the sector.”

“We are incredibly proud of the success achieved since GLG launched its first investment in 2014 and the critical role we have played, as an early entrant, in establishing the UK Build to Rent market,” said Charles Haresnape, Chief Executive Officer of GHB. “The sale is part of Gatehouse Bank’s long-term retail growth strategy and will allow for further development of its home finance product offering, which has seen strong demand supporting UK resident, UK expat and international homebuyers and landlords. We are confident that GLG is well positioned today to continuing building on its strong foundation, supporting the supply of new rental homes in the UK.”

GLG will continue to be led by CEO Paul Stockwell and its management team, and it will be rebranded with an announcement in due course. The Group will invest its own capital and that of third-party partners, and Ascend will maintain its property management services for external institutional portfolios.

The investment will expand upon Apollo’s investment activity in the UK housing ecosystem, which includes affiliate platform Foundation Home Loans, a specialist mortgage lender, and the fund portfolio company Miller Homes, one of the UK’s largest housebuilders.

Gibson Dunn are serving as legal counsel to the Apollo funds.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2025, Apollo had approximately $938 billion of assets under management. To learn more, please visit www.apollo.com.

About Gatehouse Bank

Gatehouse Bank is a Shariah-compliant ethical bank, based in London, Birmingham, Milton Keynes and Wilmslow. Gatehouse Bank offers a range of ethical savings products for UK customers, as well as residential property finance in England and Wales for UK Residents, UK Expats and International homebuyers and landlords. Gatehouse Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority. A founding signatory to the UN Principles for Responsible Banking, Gatehouse is committed to playing its part in creating a sustainable future for all.

@gatehousebank

gatehousebank.com

Contacts

Noah Gunn Joanna Rose
Global Head of Investor Relations Global Head of Corporate Communications
Apollo Global Management, Inc. Apollo Global Management, Inc.
(212) 822-0540 (212) 822-0491
IR@apollo.com Communications@apollo.com /
EuropeMedia@apollo.com
Ashleigh Clark Rachael Snelling
PR and Communications Officer Head of Marketing and Communications
Gatehouse Bank Gatehouse Bank
(0) 7955 273 448 (0) 7985 334 570
ashleigh.clark@gatehousebank.com /
Media@gatehousebank.com		 rachael.snelling@gatehousebank.com

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Coder Secures $90M Series C Led by KKR to Advance Secure Enterprise AI Development

KKR
KKR is joined by QRT, Uncork Capital, and other existing investors, signaling growing demand for infrastructure that enables the next generation of AI-powered software development

NEW YORK, NY and AUSTIN, TEXAS — April 1, 2026 — Coder, a leader in AI development infrastructure, today announced a $90 million Series C led by funds managed by KKR, a leading global investment firm, with participation from Qube Research & Technologies (QRT), Uncork Capital, and other existing investors. The investment underscores a shared conviction that cloud-based developer infrastructure will play a critical role in enabling enterprises to securely build and deploy software at scale.

Founded in 2017 in Austin, Texas, Coder provides a centralized, secure platform where enterprises can build and run software development environments in the cloud, replacing fragmented, local setups with standardized, customer-controlled workspaces. By enabling both developers and AI coding tools to operate within the same governed infrastructure, Coder helps organizations improve consistency, accelerate onboarding, and maintain control over how software is built.

“We chose to partner with customers KKR and QRT in this round because they have the clearest view of how AI evolves software development,” said Rob Whiteley, CEO of Coder. “They’re using Coder to bring consistency and security for every enterprise user to leverage the latest technologies like Claude Code, Cursor, and OpenClaw. Together, we are rearchitecting the foundation for how enterprise software is built.”

“Software development is undergoing a fundamental shift, driven by the move to the cloud and the rapid adoption of AI, with more than 80% of enterprise developers today using or planning to use coding agents in their daily workflows,” said Ben Pederson, Managing Director at KKR. “As enterprises scale the use of AI in development, they need infrastructure that allows that work to happen in a secure, standardized, and repeatable way. We believe Coder is well positioned to serve as the foundational platform for this next generation of software development.”

The company will use the funding to support platform innovation – with a focus on supporting enterprise AI workflows and strengthening governance capabilities – and scaling its presence in Europe, Asia, and North America to meet demand for Coder.

The new model for enterprise development
Customers define what successful AI adoption looks like in practice: balancing speed with control, and experimentation with the ability to scale. This moment represents an opportunity to establish a new standard for how to safely and easily access corporate-approved coding tools. Coder automates agentic provisioning, eliminating the need for users to install agents, connect LLMs, provision tools and MCP servers, and plumb libraries, source code repositories, and infrastructure. All of that fades to infrastructure- and policy-as-code that users don’t have to think about.

At KKR, Coder was rolled out to more than 500 engineers as part of a broader effort to align development environments and introduce AI in a governed way. Since first deploying Coder a year ago, the firm has moved from no AI-assisted code to more than half of commits taking place within Coder-managed environments. Based on this initial success, KKR plans to roll out coding tools to many additional functions. The investment will be made primarily through KKR’s Next Generation Technology Growth Fund III.

“Coder has fundamentally changed how we approach software development at KKR, particularly as we integrate AI into our workflows,” said Ruchir Swarup, Chief Information Officer at KKR. “By standardizing development environments and embedding governance directly into the process, we’ve been able to scale the use of AI tools in a secure and controlled way. This has improved consistency across teams, accelerated onboarding, and increased developer productivity and software velocity. We’re now extending these capabilities beyond engineering to analysts, data scientists, and other users.”

Customer-investor QRT experienced similar success. QRT has rolled Coder out to half of its over 2,000 employees, including a mix of software engineers, data scientists, and analysts. Coder is a critical component of how these employees use agentic tooling.

“Deploying agentic AI at our scale requires infrastructure that doesn’t compromise on governance,” said Zohar Melamed, Head of Developer Experience at QRT. “Coder gives us the ability to audit every LLM request, control access across our global infrastructure, and maintain strict compliance while dramatically compressing deployment timelines.”

Growth led by customer expansion
Coder initially gained traction by helping enterprises bring structure, safety and control to how software is built. As the scope of software development expands to include AI tools and agents, that foundation is used to support a broader set of workflows across the organization.

Coder’s growth is accelerating alongside this shift. The company has delivered 300% year-over-year bookings growth over the past four quarters, 44% quarter-over-quarter growth in Q1, and 144% year-over-year growth in Q1. This momentum is driven by expansion within the existing customer base, with net dollar retention at 186%. As enterprises standardize development and adopt AI workflows, Coder consistently expands across teams and use cases, reinforcing its role as a core part of the development stack.

Latham & Watkins LLP served as legal advisor to KKR & Co. Inc.

Visit the company blog to learn more about Coder’s vision for the foundation of safe agentic development.

About Coder
Coder is the leading platform for AI development Infrastructure, enabling enterprises to securely run human and AI-driven development workflows in consistent, governed environments. Coder provides self-hosted, agent-ready workspaces that unify developer productivity and platform governance. With Coder, enterprises can confidently evolve from human-only development to AI-assisted and autonomous workflows—without sacrificing security, compliance, or performance. Learn more at coder.com.

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.

Media Contacts

Coder:
Jennifer Tanner
Look Left Marketing
coder@lookleftmarketing.com

KKR:
Brooke Rustad or Jenn Bernstein
media@kkr.com

 

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Enrico Del Prete joins CVC DIF as Partner and Co-Head of Value-Add strategy

CVC|DIF

CVC DIF is pleased to announce the appointment of Enrico Del Prete as a Partner and Co-Head of its Value-Add strategy, marking an important milestone for the continued development of the platform.

CVC DIF is a leading global mid-market infrastructure equity fund manager with AUM of €23 billion across two strategies. Recent DIF Value-Add investments include the acquisition of Adam Ecotech, a Spanish data centre operator, HiSERV, a German aviation ground service equipment leasing provider and Celeste, a French B2B digital infrastructure operator.

Enrico will work alongside Willem Jansonius leading the Value-Add strategy and will be based in CVC DIF’s London office. He brings extensive experience building and scaling infrastructure investment platforms across Europe, most recently as a Fund Partner at I Squared Capital, where he led investments spanning passenger transport, asset leasing, cold storage, B2B fibre, data centres, waste recycling and renewable energy. Earlier in his career, Enrico held roles at Terra Firma Capital Partners and McKinsey & Co. His appointment reflects CVC DIF’s ambition to expand its Value-Add platform amid growing demand for mid-market infrastructure investment opportunities across Europe.

Gijs Voskuyl, Managing Partner at CVC DIF: “We are delighted to welcome Enrico to the team. His experience and investment track record will be instrumental in advancing our Value-Add strategy, a key driver of growth for our firm.”

Enrico Del Prete added: “I am very much looking forward to working with Willem and the investment team at CVC DIF. The strength of the platform means we are well-positioned to capitalise on attractive investment opportunities in the infrastructure market.”

About CVC DIF

CVC DIF is a leading global mid-market infrastructure equity fund manager.

Founded in 2005 and headquartered in Amsterdam, the Netherlands, CVC DIF has c. €23 billion of infrastructure assets under management in energy transition, transport, utilities and digitalisation.

With over 260 people in 12 offices, CVC DIF offers a unique market approach, combining a global presence with the benefits of strong local networks and sector-focused investment capabilities.

CVC DIF forms the infrastructure strategy of leading global private markets manager CVC. This partnership allows CVC DIF to benefit from CVC’s global platform, with 29 offices across five continents.

Press contacts

CVC DIF

Nick Board

Tel: +44 (0) 20 7420 4200

nboard@CVC.com

Max van de Riet

Tel: +31 (0) 6 23 05 61 06

m.vanderiet@dif.eu

H/Advisors Maitland (for CVC DIF)

Finlay Donaldson

Tel: +44 (0) 7341 788 066

dif@h-advisors.global

 

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Back to Press Releases KKR and Taiyo Holdings Agree to Privatization to Accelerate Long-Term Growth

KKR

KKR Tender Offer Receives Support from Taiyo Holdings’ Board, Largest Shareholders and Founding Family

TOKYO–(BUSINESS WIRE)– KKR, a leading global investment firm, and Taiyo Holdings Co., Ltd. (“Taiyo Holdings” or the “Company”; TSE stock code 4626), announced today that KJ005 Co., Ltd. (the “Offeror”), an entity owned by investment funds managed by KKR, intends to make a tender offer to acquire all the common shares of Taiyo Holdings (the “Tender Offer”). Taiyo Holdings’ Board of Directors has resolved to support the Tender Offer. In addition, DIC Corporation (“DIC”), Taiyo Holdings’ largest shareholder, Kowa Co., Ltd. (“Kowa”), an asset management company affiliated with Taiyo Holdings’ founding family, and funds managed by Oasis Management Company Ltd. (“Oasis”) have each entered into agreements to participate in the Tender Offer or related transactions to privatize the Company. With these agreements in place, KKR has secured support for the transaction from the shareholders representing approximately 42.2% of the Company’s outstanding shares1.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260330364697/en/

Taiyo Holdings is a leading global manufacturer of electronic materials, including solder resist for printed circuit boards. The Company also operates a medical and pharmaceutical business. As part of its long-term management plan “Beyond Imagination 2030,” Taiyo Holdings recognizes the importance of capturing growth opportunities in its electronics business driven by the rapid expansion of generative AI, data centers, and communications infrastructure, while also advancing structural reforms and expanding its contract manufacturing business in the medical and pharmaceutical field. Taiyo Holdings concluded that privatization would provide the best pathway to its growth strategy by enabling it to focus on long-term strategy and more agile decision-making. After carefully evaluating several proposals, Taiyo Holdings concluded that a privatization by KKR, with its deep sector experience, global network, and operational expertise, presents the best way forward for Taiyo Holdings to create value for its shareholders and accelerate its growth strategy for the long term.

The proposed Tender Offer price will be JPY 4,750 per common share, which represents:2

  • A premium of 117.19% to the six-month average unaffected closing price of Taiyo Holdings’ shares as of May 27, 20253; and
  • A premium of 140.14% to the six-month average unaffected closing price of Taiyo Holdings’ shares as of February 18, 2025.4

In conjunction with the Tender Offer, KKR has entered into agreements with DIC and Kowa, who have each agreed to sell their shares to Taiyo Holdings through a share consolidation and buyback to be implemented following the successful completion of the Tender Offer. Following the privatization, Taiyo Holdings’ founding family plans to re-invest in KJ005HD Co., Ltd., the KKR-managed investment vehicle that will own Taiyo Holdings. KKR has also entered into a tender agreement with Oasis whereby Oasis will tender its shares representing approximately 15.62% of Taiyo Holdings outstanding shares into the Tender Offer.

Eiji Yatagawa, Partner and Head of Japan Private Equity at KKR, said, “We are pleased to have the opportunity to support the growth of Taiyo Holdings, a leading electronics materials manufacturer with a long track record of technical expertise and manufacturing excellence. We look forward to leveraging KKR’s global network and operational expertise in the advanced materials and pharmaceutical sectors to help Taiyo Holdings unlock future growth and greater value for its clients.”

Hitoshi Saito, President and Chief Executive Officer of Taiyo Holdings, said, “This strategic partnership with KKR marks an important milestone for Taiyo Holdings. As a private company, we will be able to pursue long-term investments in our core technologies with greater focus and stability, which we could not achieve on our own, through our corporate value enhancement initiative, ‘Beyond Boundaries’—an initiative that embodies our commitment to transcending various limitations and boundaries in order to achieve our long-term management plan for ‘Beyond Imagination 2030’. We share KKR’s belief that sustainable growth is built together with employees, and their focus on employee ownership closely aligns with our long-held culture of partnership. By combining our technological foundation with KKR’s global network and operational expertise, we will advance Taiyo Holdings toward its next chapter.”

KKR is making this investment as part of its flagship Asia Pacific private equity strategy. KKR has been investing in Japan for two decades and manages more than $20 billion in assets under management in the country. KKR’s investments in Japan include KOKUSAI ELECTRIC, a leading global supplier of semiconductor manufacturing equipment; Bushu Pharma, a pharmaceutical CDMO; Topcon, a manufacturer of optical equipment for eye care and machine control equipment; FUJI SOFT, a leading IT services company; and LOGISTEED, a global third-party logistics provider.

The Offeror expects to commence the Tender Offer upon satisfaction of customary conditions including applicable regulatory approvals. For details regarding the Tender Offer, please refer to the full text of the release issued by the Offeror today titled “Notice Regarding the Planned Commencement of Tender Offer for Shares of Taiyo Holdings Co., Ltd. (Securities Code: 4626).”

About Taiyo Holdings

Taiyo Holdings operates across three business segments: its Electronics Business, which develops, manufactures, and sells materials for printed circuit boards (PCBs) and semiconductor packaging substrates, primarily solder resist; its Medical and Pharmaceutical Business, which manufactures and sells prescription drugs and provides contract manufacturing services; and its ICT&S Business, which includes information and communication technology solutions, fine chemicals, energy, food, and other related businesses. Taiyo Holdings is a global leader in solder resist, with a significant market presence. For more information, please visit https://www.taiyo-hd.co.jp/jp/index.html.

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.

Disclaimers

This press release should be read in conjunction with the release issued by the Offeror today titled “Notice Regarding the Planned Commencement of Tender Offer for Shares of Taiyo Holdings Co., Ltd. (Securities Code: 4626)”, which is available on TDNet and on Taiyo Holdings’ website.

Forward-Looking Statements

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 U.S. 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 guarantees 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 applicable laws and regulations.

No Offer or Solicitation

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. 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.

U.S. Regulations

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) nor 14(d) of the U.S. Securities Exchange Act of 1934 (as amended; the same shall apply hereinafter) nor 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. In addition, because the Offeror is a corporation incorporated outside the U.S., it may be difficult to exercise rights or demands against the Offeror that can be asserted based on U.S. securities laws. It also may be impossible to initiate an action against a corporation that is based outside of the U.S. or its officers in a court outside of the U.S. on the grounds of a violation of U.S. securities-related laws. Furthermore, there is no guarantee that a corporation that is based outside of the U.S. or its affiliates may be compelled to submit themselves to the jurisdiction of a U.S. court.

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.

The Offeror, its and Taiyo Holdings’ respective financial advisors and the tender offer agent (and their respective affiliates) may purchase or arrange to purchase the common shares of the Company by means other than the Tender Offer, for their own account or for their clients’ accounts, including in the scope of their ordinary business, to the extent permitted under financial instruments and 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 after public announcement of the Tender Offer and 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).

If a shareholder exercises its right to demand the purchase of shares of less than one unit in accordance with the Companies Act, the Company may buy back its own shares after public announcement of the Tender Offer and during the Tender Offer period in accordance with the procedures required by applicable laws and regulations.

1 Total number of issued and outstanding shares of the Company as of December 31, 2025 (116,839,616 shares) less number of treasury shares possessed by the Company as of such date (5,562,854 shares) which equals to 111,276,762 shares. Hereinafter the same shall apply.
2 Refers to the share price as adjusted for the impact of the 2-for-1 stock split effective December 1, 2025.
3 The day before speculative media reporting about the bidding process that impacted the Company’s share price.
4 The day Oasis filed a large shareholding report for Taiyo Holdings after market close.

Media Contacts

For Taiyo Holdings

PR Inquiry
https://www.taiyo-hd.co.jp/jp/contact/contact-pr.html

For KKR:

Wei Jun Ong
+65 6922 5813
weijun.ong@kkr.com

Samuel Brustad
+81 90 7094 2523
samuel.brustad@kkr.com

Source: KKR

 

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Axcel agrees to acquire Geomatikk from Hg with plans to accelerate European expansion

HG Capital

Geomatikk, a leading provider of tech-enabled services and software that help safeguard and manage critical underground infrastructure, today announced it has entered into an agreement to be acquired by Axcel, a leading private equity firm investing across Northern Europe.

Hg, a leading investor in European and transatlantic technology and services businesses, is the current majority owner and will fully exit its investment in Geomatikk upon completion of the transaction. Management as well as the Norwegian investment company KKA Invest will reinvest and remain shareholders alongside Axcel.

Founded in 2005 and headquartered in Norway, Geomatikk combines tech-enabled detection services and proprietary software to help prevent damage to underground infrastructure, including power cables, fibre networks and water pipes, during excavation and construction work. The company employs approximately 630 people and serves 13,000 asset owners, municipalities, and contractors each year across Norway, Sweden, Finland, Denmark and Spain.

Over the five years of ownership, Hg supported Geomatikk’s transformation from a regionally focused infrastructure protection services business into a pan-European critical infrastructure management platform. This was driven by Hg’s significant investment in the management team, nine strategic acquisitions to build out the company’s software offering, and continued improvements to operational efficiencies including increased AI automation.

Geir Hansen, CEO of Geomatikk, said: “Our partnership with Axcel marks an exciting new chapter for Geomatikk. We have built a strong technology platform for infrastructure protection across Europe, and Axcel’s deep regional expertise and track record of scaling businesses will be invaluable as we pursue further European expansion. I want to thank Hg for their partnership over the past five years. Their expertise has been instrumental in helping us reach this next phase of growth, particularly in building out our software offering and expanding across new geographies.”

Christoffer Müller, Partner at Axcel, said: “Geomatikk is a true Nordic pioneer in its industry, having built a strong and unique position within both infrastructure protection services and network information systems over the past two decades. We’re excited to partner with the management team and founders to continue developing a world-class services and software business, building on the strong progress under Hg’s ownership.”

David Issott and Rob Hallot at Hg, said: “It has been a privilege to partner with Geir and the Geomatikk team. Together, we have transformed the business from a regional services provider into a leading Pan-European platform tackling some of the most pressing infrastructure challenges. This was supported by some excellent hires into the management team, nine strategic acquisitions to build out the software offering, alongside significant operational improvements. The company is exceptionally well positioned for continued growth under Axcel’s ownership, and we wish the team every success.”

Terms of the transaction are not disclosed.

For further information, please contact:

Geomatikk

Geir Hansen, Group CEO geir.hansen@geomatikk.com
Siri Schmidt-Horix, CHRO, Siri.Schmidt-Horix@geomatikk.no
Geir Hansen, Group CEO

Axcel

Christoffer Müller, Partner, cm@axcel.com
Maria Fiorini Lorenzen, Head of Communications, mfl@axcel.com

Hg

Tom Eckersley, tom.eckersley@hgcapital.com
Sam Ferris, sam.ferris@hgcapital.com

About Geomatikk

Geomatikk Group is a leading Nordic technology and services company dedicated to protecting and managing critical underground infrastructure, ensuring undisrupted access to the critical infrastructure society depends on.

Operating across Norway, Sweden, Finland, Denmark, and Spain, with approximately 630 employees, Geomatikk connects infrastructure owners, contractors, and public authorities through advanced digital platforms and specialised field services.

Every day, essential networks for electricity, fibre, water, and gas are at risk of accidental damage during excavation. Geomatikk ensures these networks are accurately identified, mapped, and protected before digging begins, safeguarding critical societal functions and enabling safer, more efficient construction, maintenance, and development activities.

Geomatikk holds ISO certifications across quality, environment, health & safety, and information security, and is committed to science-based climate targets validated by the SBTi.For more information, visit geomatikk.com

About Hg

Hg is an investor in European and transatlantic technology and services businesses. We are an AI leader in private equity, helping to build sector-leading enterprises that supply critical applications or workflow services to deliver intelligent automation for their customers.

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3i Group plc Action Capital Markets Seminar and portfolio update

3I

Capital Market Seminars Image

3i Group plc (“3i”, or “the Group”) will be holding a capital markets seminar this morning, involving a presentation from the management team of Action, our largest portfolio company. A live webcast of the seminar will take place at 10:00 (UK time). To register for the webcast, please visit https://www.3i.com/investor-relations. An on-demand webcast of the seminar will also be available by the end of the day.

In its 2025 financial year Action generated net sales of €16,000 million and operating EBITDA of €2,367 million, 16% and 14% respectively higher than in 2024. Like-for-like (“LFL”) sales growth was 4.9% and the business added 384 stores in the year. The operating EBITDA margin for the year was 14.8%. After adding back the one-off payment of €26 million made to staff during the year to celebrate Action’s 3,000th store, the EBITDA margin was 15.0%.

In the period to the end of week 12, Action’s net sales were €3.7 billion, 14.5% ahead of the
same period in 2025. LFL sales growth in the first 12 weeks of the year was 4.0%, driven mainly by transaction growth in all markets. Both sales growth and LFL in the period to the end of
week 12 showed a positive trajectory compared to Q4 2025. The LFL sales growth ex-France to the end of week 12 was 5.8% (Q4 2025: 4.6%), with France delivering 0.9% LFL sales growth (Q4 2025: -2.7%). Performance ex-France YTD is above expectations, with France slightly below. Store traffic in Northern Europe was impacted by snow and cold weather at various points, particularly in P2. The business added 24 stores in the year to the end of week 12, in line with expectations but below prior year due to phasing which is more weighted to the second quarter of 2026. Cash and cash equivalents as at 22 March 2026 were €900 million. Action is planning to make another dividend payment to shareholders in the coming weeks.

The following guidance for Action’s year to December 2026 will be set out during the presentation.

Like-for-like sales growth  4-5%
Net store opening target At least 400
EBITDA margin expansion Maintained at 14.8%

During the presentation, Action’s estimate of white space potential in existing and identified in-scope countries in Europe will be updated to c.4,650 stores in addition to the 3,302 existing stores at the end of 2025. This represents an increase of c.200 from the European white space estimate given last year. Action has also completed an in-depth market study of the United States, which demonstrated clear potential for the Action format. The company aims to open its first store in the South-East of the United States by the end of 2027 or early 2028.

We recently completed our semi-annual portfolio company review meetings. Overall, portfolio performance was encouraging. Our other long term hold asset Royal Sanders, and the vast majority of our Private Equity portfolio companies, continue to trade well. Our Infrastructure portfolio is also delivering solid overall performance.

Across the portfolio, the repercussions of Middle East situation have the potential to present further challenges, but history suggests that Action and the broader 3i portfolio will continue to show resilience in the most likely scenarios. We also continue to monitor the development of AI in our portfolio but see little downside impact and continue to see opportunities to apply AI across a number of portfolio companies.

 

– Ends – 

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