Archives

Ratos company SSEA, part of Sentia, to build Stockholm University of the Arts

Ratos

SSEA, which is part of the newly formed construction group Sentia, has been commissioned by Atrium Ljungberg, in partnership with the university itself, to build the new property where the university will have its operations in the future. The building, encompassing approximately 36,000 square metres of floor space, is being built as a turnkey partnering project. The building will be erected in Stockholm’s Slakthusområdet district and is expected to be completed in 2030.

The new University of the Arts is truly an exciting project, in terms of both the design and the content of the building. The contract for Phase 1 was signed on 4 February, and ground is expected to be broken in 2026. The project will be built next to 3Arena (formerly Tele2 Arena) and the future Evenemangstorget square that will connect Slakthusområdet with the Stockholm Globe area.

SSEA has previously built, among other project, Sara Kulturhus in Skellefteå, Kunskapsstaden in Kiruna (Hjalmar Lundbohm School) and Ersta new hospital in Stockholm.

Architects’ agency 3XN is designing the new university. The architects have incorporated materials and colours that allude to the industrial history of Slakthusområdet, while the façade reflects the patchwork of vibrant functions and performance spaces inside the building.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 15 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 32 billion in net sales (September LTM). We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.

Attachments
Press release

Categories: News

Tags:

Bain Capital Credit Announces $6 Billion of Financing Investments for 2024

BainCapital

BOSTON – February 13, 2025 – Bain Capital Credit, LP, a leading global credit specialist, today announced that the firm’s Private Credit Group invested $6 billion to support the growth of middle market and private equity-backed companies in 2024.

Bain Capital Credit’s Private Credit Group made 97 investments in 2024, supporting the refinancing, leveraged buyout, and add-on acquisition activity of both new and existing portfolio companies. With over 25 years of middle market private debt experience, the Private Credit Group has invested over $25 billion across 540 portfolio companies since inception.

Additional 2024 highlights include:

  • Closed over $4 billion of new capital for investments
  • Investments across 97 companies, including 63 new platforms
  • New investments spanned senior secured debt, unsecured debt and preferred and common equity, given our flexible capital solutions
  • Served as majority lender on approximately 70% of new commitments, with a weighted average portfolio company EBITDA of $46 million
  • Strong credit performance across our diversified portfolio of more than 200 middle market businesses

“Through our long-standing presence in the core middle market, deep industry expertise, and a highly selective and disciplined approach to credit selection, we remain well-positioned to source and underwrite attractive investment opportunities,” said Michael Ewald, a Partner and Global Head of the Private Credit Group. “As we look further into 2025, we are encouraged by our active investment pipeline across geographies and look forward to continuing to serve as a trusted, long-term partner for middle market companies and private equity sponsors.”

Bain Capital Credit’s dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $150 million located in North America, Europe and Asia Pacific. The Private Credit Group, which managed approximately $16 billion of capital as of December 31, 2024, has a dedicated global team that enables Bain Capital Credit to diligence the most complex situations and provide flexible private capital solutions to middle market businesses.

###

About Bain Capital Credit, LP
Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $51 billion in assets under management. Bain Capital Credit invests across the credit spectrum and in credit-related strategies, including leveraged loans, high-yield bonds, structured products, private middle market loans and bespoke capital solutions. Our team of more than 100 investment professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity, venture capital, real estate, life sciences, and insurance, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.

 

Categories: News

Tags:

Ardian Clean Energy Evergreen Fund (ACEEF) Expands Finnish Battery Energy Storage Portfolio with Second Investment

Ardian

The investment forms part of Ardian Clean Evergreen Fund’s (ACEEF) wind power and battery storage strategy in Finland
• Investment and project execution led by Ardian’s operating platform, eNordic
• Follows investment in Mertaniemi battery storage energy project in February 2024, expected to start operations in Q2 2025

Ardian, a world-leading private investment house, in partnership with its operating platform eNordic, today announces it has taken Final Investment Decision to build its second battery energy storage system (BESS) in Finland. This new 30 MW/30MWh BESS project further strengthens Ardian’s commitment to advancing energy infrastructure in the Nordics.

The investment, made through the Ardian Clean Energy Evergreen Fund, marks the fund’s second investment in the BESS asset class, with the first investment made in February last year. The existing project, located in the city of Riihimäki, is scheduled to be completed by Q2 2026 and takes ACEEF’s total BESS capacity to 68.5 MW.

The battery storage project is developed by Merus Power plc, a Finnish power technology company. Merus is responsible for the EPC of the project and will provide operation and maintenance services to the plant.

The projects will benefit from integration to OPTA, Ardian’s proprietary data analysis platform, designed to optimize the management of renewable energy portfolio and support new investments. Ardian now tracks over 3GW of renewable assets through OPTA.

As Finland’s weather dependent renewable energy share continues to grow, driven largely by wind power, battery storage is crucial for ensuring grid stability. This project is a key step in managing grid stability and strengthening long-term system reliability.

To date, key acquisitions as part of Ardian’s Nordic strategy include: Nevel, the district heating and industrial energy solutions company; Verne, a leading green data center platform; and Míla, Iceland’s largest telecoms infrastructure company.  Ardian plans to continue building its clean energy portfolio in Finland, with plans for ACEEF to continue to acquire and integrate renewables projects to improve grid efficiency and energy security.

Ardian’s Nordic clean energy portfolio now totals over 500 MW, with renewable energy company Nevel active in district heating, industrial utilities and biogas across Finland, Sweden and Estonia.

“Our first investment in Finnish battery storage was a significant milestone, and this second project further demonstrates Ardian’s commitment to clean energy expansion. Our experienced team, combined with deep local market expertise, enables us to successfully navigate the complexities of these projects and deliver long-term sustainable value for our investors. We have identified a significant opportunity in the Nordics for battery storage and have ambitious plans to continue to build out our platform.” Benjamin Kennedy, Managing Director Infrastructure – Renewables, Ardian

“This battery storage project has diversified revenue sources and provides essential grid services to enhance grid stability. Additionally, it can mitigate short-term volatility associated with growing wind and solar power generation. This makes it a highly complementary asset to the ACEEF Nordic portfolio.” Eero Auranne, CEO, eNordic

ACEEF will continue to focus on core renewable assets including solar, wind and hydro, as well as emerging technologies across biogas, biomass, storage and energy efficiency.

Ardian is a pioneer in the energy transition, having started investing in renewable assets in 2007. Across all Infrastructure Funds, the team manages a renewable energy portfolio of more than 8GW of heat and renewable energy capacity in Europe and the Americas, and over $35bn assets under management across the globe.

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $177bn of assets on behalf of more than 1,720 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 20 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

Media contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

Categories: News

Tags:

Carlyle Builds a Diversified Global Auto Components Platform by Combining Highway and Roop

Carlyle

The deal underscores Carlyle’s commitment to invest in world-class advanced manufacturing enterprises in India and globally

Mumbai and New Delhi, India, February 13, 2025 – Global investment firm Carlyle (NASDAQ: CG) today announced it has completed the acquisition of a controlling stake in Highway Industries Limited (“Highway”) and Roop Automotives Limited (“Roop”) (together “the Platform” or “Platform Entity”) through a proprietary and exclusive transaction. Equity for the investment will come from investment funds affiliated with Carlyle Asia Partners (CAP).

Highway and Roop are among the leading players in manufacturing forged and precision-machined components, steering system assemblies, transmissions and other powertrain applications for electric, hybrid and internal combustion engine (ICE) powered vehicles. Over the last 30 years, the Platform has built a comprehensive product range of over 1,500 products, an extensive global clientele of 55 customers across 17 countries, and an expansive manufacturing footprint of 12 plants and 14 international warehouses. Carlyle intends to deepen its investments in the auto components space and will seek to add synergistic assets to the Platform.

The founders of Highway and Roop will continue to hold stakes in the Platform, underscoring their commitment to the long-term success of the companies. Carlyle will work with Highway and Roop to help them leverage operating synergies and create capabilities and capacities, to deliver enhanced value for their customers.

Amit Jain, Managing Director and Head of Carlyle India Advisors, said: “We believe India offers a tremendous opportunity in the advanced manufacturing sector, particularly in the auto components supply chain for both domestic and export markets. In our view, this provides a large-scale opportunity for the Platform. We believe creating scale with consolidation will enable investments in technology, talent and systems, which will allow the Platform to deliver an enhanced value proposition for its customers. We are excited to partner with Highway and Roop to build this Platform. Carlyle is well-placed to accelerate the growth of the Platform by leveraging our worldwide network and investments in the automotive sector globally.”

Mohit Oswal, Managing Director of Roop, said: “Roop has been an industry pioneer in the manufacturing of steering components and assemblies. For over 30 years, we have built strong expertise in our target applications and established deep relationships with our customers globally. Our partnership with Carlyle and Highway makes us even stronger and allows us to provide holistic solutions to our customers and value-add to all stakeholders.”

“At Highway, we have been at the forefront of driving technology-led growth for our customers globally and in India. With Carlyle’s investment and the partnership with Roop, I am confident that we will deliver on our collective commitment to drive innovation and broaden offerings for our clients,” said Umesh Munjal, Managing Director of Highway.

Mr. Oswal will serve as Non-Executive Chairperson of the Board for the Platform Entity. Additionally, Mark Blaufuss, Operating Executive at Carlyle with over 30 years of leadership experience in the automotive and manufacturing sectors; and Kishore Saletore, former Executive Director and Group CFO at Bharat Forge Limited, with over three decades of diverse industry experience, will join the Platform Entity’s Board of Directors.

KPMG, Trilegal, Kotak and Deloitte acted as advisors to Carlyle for the transaction. Singhi Advisors and KPMG acted as the financial advisors to Highway and Roop shareholders, respectively.

Carlyle’s buyout funds, including Carlyle Asia Partners, have deep experience investing in the Advanced Manufacturing or Industrial sector, and have invested over US$32 billion of equity in over 125 deals globally as of December 31, 2024, with approximately US$1.1 billion of this in Asia.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Global Investment Solutions. With US$441 billion of assets under management as of December 31, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs over 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

 

About Highway

Founded in 1971, Highway is one of India’s fastest growing manufacturers of mission critical powertrain sub-systems and components for global automotive customers across North America, Europe, and Asia. Highway’s focus on engineering excellence, innovation and customer service for more than 50 years has enabled it to establish multi-decade relationships with global automotive clients that are based on quality and trust. Highway has more than 3,000 skilled employees.

 

About Roop

Founded in 1992 and headquartered in Haryana, Roop is an industry leader in the manufacturing of steering sub-systems and assemblies, and the largest manufacturer of steering yokes globally. Roop has developed unique engineering strengths and expertise in manufacturing critical automotive parts through decades of R&D and a team of more than 400 engineers. Roop prides itself as a leading solutions provider for steering system manufacturers globally for over 30 years. Roop exports largely to North America and Europe.

 

Media Contacts:

Carlyle

Lonna Leong

Tel: +852 9023 1157

E-mail: lonna.leong@carlyle.com

 

Adfactors PR 

Manibalan Manoharan

Tel: +91 9833949919

E-mail: manibalan.manoharan@adfactorspr.com

Categories: News

Tags:

Molten leads £5 million round in Renew Risk

Molten

Molten is delighted to welcome Renew Risk to its portfolio. Renew Risk is domain leader in risk modelling and analytics for renewable energy assets. It has successfully raised £5 million in a funding round led by Molten Ventures with participation from Lloyd’s, existing investors Insurtech Gateway and angel investors. 

The funding underscores a growing recognition of Renew Risk’s unique ability to bridge the gap between the renewable energy sector and financial markets. By pairing advanced analytics with deep industry expertise, Renew Risk provides unparalleled insights to (re)insurers, insurance brokers, bankers, developers and asset managers into physical risks like hurricanes, earthquakes and severe connective storms affecting renewable energy assets like offshore wind farms and solar farms. These models enable all participants in financial markets to make data-driven decisions, ensuring more resilient and sustainable coverage and investments.

The £5 million investment will be deployed to enhance Renew Risk’s proprietary risk models suite, expanding its team of risk modellers and climate experts, and extend its market reach globally. 

Renew Risk has already established itself as a trusted partner within the insurance industry where number of its clients are currently using the product. With this new funding, the company is poised to scale its impact, delivering innovative solutions at the intersection of renewable energy and risk management.

George Chalmers, Head of Climate at Molten Ventures, commented: “Renewable assets coming online need to be financed and insured. The pace of deployment is being impaired by the lack of appropriate risk modelling for these new assets—leading to risk that isn’t properly quantified and priced. We are delighted to partner with the Renew Risk team as they built out their world leading risk analytics for the renewable energy sector.“

Ashima Gupta, CEO and Co-Founder of Renew Risk, commented on the funding: “We are thrilled to have the support of Molten Ventures and Lloyd’s, two powerhouses in innovation and insurance, respectively. This investment will accelerate our ability to build sophisticated risk models for the renewable energy sector, empowering stakeholders to navigate the complex challenges of disaster risk with confidence.”

Warren Clegg, Head of Private Assets at Lloyd’s added: We are pleased to continue supporting Renew Risk who came through the Lloyd’s Lab, and whose sustainability goals align with ours, as we help our customers to face the challenges of transitioning to lower carbon models. Their solution will help our market and the insurance industry to have greater confidence in underwriting renewable energy projects around the world.

Categories: News

CDPQ welcomes the renewal of CAE’s Board

Cdpq

CDPQ welcomes the announcement, by CAE’s Board of Directors, of the appointment of four new members, including the appointment of Calin Rovinescu, a seasoned leader in the aerospace industry, as Chairman. These changes reflect CAE’s commitment to renewing its corporate governance, in particular by taking into account the opinions of certain shareholders, including CDPQ, its largest institutional investor with a 9.7% stake in the company.

“Our position as a major shareholder prompted us to play a proactive and constructive role in this renewal process by leveraging our network and influence. This mobilization and the end result perfectly illustrate our dual mandate: while we aim to achieve optimal returns, we do not hesitate to get involved when necessary to support champions of the Québec economy, like CAE,” said Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ. “CAE and its Board of Directors will be able to count on a renowned and seasoned Chairman whose career has been characterized by major achievements in business as well as in the aerospace industry, in Québec, Canada and internationally.”

CDPQ is also pleased with the three other appointments that have been announced, including those of Louis Têtu, whom it has designated as a director, Katherine A. Lehman and Peter Lee who join the group of experienced directors already in place to move the company forward. More specifically, CDPQ highlights the mobilization of influential individuals in the Québec business community to play active roles in the governance of this global leader in the aerospace industry.

These changes will become effective on February 14, 2025.

About CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2024, CDPQ’s net assets totalled CAD 452 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.

CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.

– 30 –

For more information

Categories: People

EQT portfolio company HBX Group, a leading independent B2B travel technology marketplace, goes public on the Spanish Stock Exchange

eqt

EQT is pleased to announce that EQT VII (“EQT Private Equity”) portfolio company HBX Group International plc (“HBX Group” or the “Company”) has successfully completed its initial public offering (“IPO”) and began trading today on the Spanish stock exchange. At an IPO price of EUR 11.50 per share, the listing follows the initial offering of the Company’s shares, comprising an offering of EUR 748 million, including a secondary offering of existing ordinary shares of the Company. Together with the additional overallotment option of up to 15% of the size of the base offering, the total offer size is up to EUR 860 million. The share price closed at EUR 11.00 per share at the end of the first trading day, implying a market capitalization of EUR 2.7 billion.

HBX Group is a leading independent B2B travel technology marketplace, connecting travel product suppliers (including hotels, travel experiences, transfers and car rentals) and travel distributors, totaling more than 635,000 direct connections in the travel ecosystem. Its best-in-class cloud-native and scalable technology platform allows the Group to process up to 6.2 billion searches per day, which provide unique insights for business partners and predict travel trends. HBX Group is also leveraging AI and developing a wide range of TravelTech solutions, including bespoke Fintech and Insurance solutions for the travel industry. HBX Group is present in 170 countries and employs more than 3,600 people around the globe.

EQT Private Equity’s association with HBX Group began with the merger of its previous portfolio company GTA and HBX Group in 2017, which resulted in EQT Private Equity acquiring a minority stake in HBX Group. Previously, GTA was one of the three core businesses of Kuoni Group, which EQT Private Equity acquired in May 2016. The other two core businesses, GTS and VFS Global, were divested by EQT in 2017 and 2022 respectively.

The IPO marks a significant milestone in HBX Group’s journey, providing it with a diversified shareholder base and access to public capital markets to support the Company’s future growth. Dominik Stein, Partner and Head of EQT Growth Advisory Team, commented: “EQT extends its congratulations to HBX Group’s management team and fellow shareholders, including Cinven and the Canada Pension Plan Investment Board, on reaching this milestone.”

Contact

EQT Press Office, press@eqtpartners.com

About EQT

EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 136 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

About HBX Group

HBX Group is a leading global B2B TravelTech company that owns and operates Hotelbeds, Bedsonline and Roiback, among other brands. The company offers a network of interconnected travel tech products and services to partners such as Online Marketplaces, Tour Operators, Travel Advisers, Airlines and Loyalty Programmes, destinations and travel suppliers. HBX Group’s vision is to simplify the complex and fragmented travel industry through a combination of cloud-based technology solutions, curated data, and an extensive portfolio of products designed to maximise revenue. HBX Group is present in 170 countries, employs more than 3,600 people around the globe and is committed to making travel a force for good, creating a positive social and environmental impact. More info: www.hbxgroup.com

This press release does not constitute an offering circular or a prospectus as defined by Regulation (EU) No. 2017/1129 of 14 June 2017 and nothing herein shall be construed as an offering of securities. No one should purchase any securities in the Company except on the basis of information in the prospectus published by the Company in connection with the offering and admission of such securities to trading on the Spanish stock exchanges. Copies of the prospectus are available at the Company’s registered office and, subject to certain exceptions, through the website of the Company.

This press release is not an offer to sell or a solicitation of any offer to buy any securities issued by the Company in any jurisdiction where such offer or sale would be unlawful and this announcement and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions.

Exclusive News and Insights

Categories: News

Tags:

Inflexion appoints partner to lead new North America office

Inflexion

Inflexion, a leading European mid-market private equity firm, is delighted to announce the appointment of Ben Meyer as a Partner and Head of North America. Ben will lead a new office for Inflexion in New York, building a dedicated team which will focus primarily on supporting Inflexion portfolio companies and accelerating their North American market entry through ambitious acquisitions.

Ben brings close to 25 years of relevant experience to Inflexion. He joins the firm from Hg where he spent five years helping the firm open and build its US presence, establishing its US brand, growing the US team to over 50 professionals and helping the firm invest in over 10 US businesses. Prior to Hg, Ben was a senior member of Temasek’s US team, where he helped build and lead Temasek’s direct US technology & software investment efforts.  Ben started his career at UBS Investment Bank in New York.

The New York team will support Inflexion’s portfolio companies to execute their US growth initiatives, with a specific focus on strategic and transformational acquisitions. Driving US expansion is a key part of Inflexion’s portfolio strategy: acquisitive growth has been a key value acceleration driver for Inflexion throughout its history, with over 540 bolt-ons completed in the last 25 years, and Inflexion portfolio companies have almost tripled their US revenues during the investment period.

We are delighted to welcome Ben to Inflexion to spearhead our expansion in North America. Hiring Ben underscores our commitment to accelerating the international growth of our portfolio companies, and by building a presence in the US, we are better positioned to support them on their growth ambitions and acquisition goals in the largest market in the world.

Flor Kassai, Managing Partner, Inflexion

The North American market presents a strategic expansion opportunity for Inflexion’s portfolio. I’m excited to join Inflexion to lead the North American effort, working work in concert with the global team and helping help Inflexion’s portfolio access the massive North American market.

Ben Meyer, Partner & Head of North America, Inflexion

Contact

Sarah Gestetner

Partner

T. +44 (0)20 7487 9820

E. sarah.gestetner@inflexion.com

Categories: People

Platinum Equity Completes Acquisition of Héroux-Devtek

Platinum

LOS ANGELES (February 12, 2025) – Platinum Equity announced today that the acquisition of Héroux-Devtek Inc. (TSX: HRX), a leading international manufacturer of aerospace products and the world’s third-largest landing gear manufacturer, has been completed.

 

“We have been investing in Canada for a long time and know the market dynamics and leading sectors very well. We believe there are a lot of opportunities to create value in partnership with Canadian businesses that can benefit from our approach. ”

Louis Samson, Co-President, Platinum Equity

“We have tremendous respect for Héroux-Devtek and are excited to work with Gilles, Martin, Stéphane, and the rest of the company’s talented team,” said Louis Samson, Co-President of Platinum Equity. “We are particularly inspired by the company’s entrepreneurial spirit and its ‘can do’ culture.”

Samson reaffirmed a commitment to maintaining Héroux-Devtek’s headquarters in Longueuil and investing in its R&D center in Saint-Hubert. He also said he was grateful and excited for long-term local investors Caisse de dépôt et placement du Québec (CDPQ) and Fonds de solidarité FTQ (FTQ) to have invested in the debt financing for the transaction.

“Montréal has a rich heritage in aerospace and Héroux-Devtek will remain a cornerstone of the regional economy,” said Samson. “We are also proud to have meaningful investments from CDPQ and FTQ in the company. They will be important strategic partners in the company’s future.”

“We are positive on the sector and very excited to be part of Héroux’s new chapter as a private company,” said Platinum Equity Managing Director Delara Zarrabi. “We like many of the company’s attributes, including its diversified portfolio of long-life programs, attractive mix of defense and commercial aerospace exposure, and meaningful earnings from aftermarket and proprietary designs.”

Zarrabi said Platinum Equity will look to grow Héroux organically and through prospective acquisitions.

“We have already developed and will continue to expand a pipeline of M&A opportunities for Héroux to pursue,” she said. “We will deploy the full range of our financial and operational toolkit to support the company’s continued success.”

Samson said Platinum Equity continues seeking opportunities to expand its portfolio of Canadian investments.

“We have been investing in Canada for a long time and know the market dynamics and leading sectors very well,” explained Samson, who grew up in Québec City. “We believe there are a lot of opportunities to create value in partnership with Canadian businesses that can benefit from our approach.”

Platinum Equity’s current portfolio also includes Husky Technologies, a provider of injection molding equipment and services headquartered in Bolton, Ontario. Platinum Equity recently sold Toronto-based Livingston International, an international trade services firm specializing in customs brokerage, freight forwarding and trade consulting, to Purolator, Inc.

Stikeman Elliott LLP and Latham & Watkins LLP served as legal advisors to Platinum Equity on the acquisition. BMO Capital Markets served as financial advisor to Platinum Equity and as the lead arranger for the financing.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of more than 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 29 years Platinum Equity has completed more than 450 acquisitions.

Categories: News

Eurazeo participates in GERMITEC’S EUR 29 million series B fundraising

Eurazeo

The Nov Santé Actions Non Cotées Fund, managed by Eurazeo1, dedicated to the development of the healthcare sector in Europe and which was launched at the initiative of France Assureurs and the Caisse des Dépôts, is announcing the finalization of its third Growth Equity investment in Germitec. Nov Santé Actions Non Cotées is acting as lead investor in this €29 million Series B fundraising alongside historic shareholders including Kurma Partners (Eurazeo’s Health Venture subsidiary), Financière Arbevel, Turenne Capital and the founding family.

Germitec: an innovative French MedTech specializing in High-Level Disinfection solutions for ultrasound probes

Germitec, whose headquarters are based in Bordeaux, is a leader in the field of ultrasound probe disinfection. Using patented technology, the company designs automatic UV-C High Level Disinfection solutions for external, long and short endocavitary and transesophageal ultrasound probes as well as ENT endoscopes without working channel which are all notably used in gynecology and IVF treatments, cardiology, urology and ENT. Using cycles ranging from 90 seconds to approximately 3 minutes, these chemical-free and single-button automatic devices considerably reduce the risk of cross-contamination. Moreover, the intuitive workflow interface enables data storage, visualization and downloading to guarantee complete traceability of the disinfection process.

Its environmentally friendly technology provides an alternative to existing offers on the market (automated or manual chemical solutions such as wipes or chemical baths) whilst meeting the demands of health professionals.

The demand in the global disinfection market is booming, driven by growing needs in the prevention of healthcare-associated infections (in 2023, 72,000 people in the USA and 4,000 in France died because of an infection caught in a medical environment) and the growth dynamic in the use of ultrasound as a reference-tool in medical imagery. By offering solutions adapted to the needs of healthcare professionals, Germitec is positioning itself as a major player in a key public health sector.

With a presence in over 40 countries, Germitec already benefits from international recognition and is today aiming to establish itself in new markets such as the United States, where the company recently obtained the FDA De Novo certification2 for its flagship Chronos3 product. To meet its goals, the company is raising €29 million with the support of Nov Santé Actions Non Cotées acting as lead investor alongside existing investors who are again participating in this second round.

A symbol of the Eurazeo group’s healthcare expertise

This co-investment between Nov Santé Actions Non Cotées and Kurma Partners, its Health Venture subsidiary, Eurazeo reaffirms its commitment to build its leadership in the strategic healthcare sector. Following on from PanTera in September 2024, this new joint participation illustrates the complementarity of skills within the Group which aims to support innovation and the emergence of industrial European leaders in the healthcare sector.

Following on from Kinvent in December 2023 and PanTera in September 2024, Germitec is the third Growth Equity investment by Nov Santé Actions Non Cotées.

Vincent Gardès, CEO of Germitec, declared:

“The Nov Santé and Kurma Partners teams’ expertise is a major asset that will support Germitec in our new development phase. With the obtention of the FDA accreditation, we have accomplished a decisive move that provides us with an exceptional perspective in the United States where there is a market opportunity of 60,000 units. We are confident in our capacity to capture this market thanks to the quality and distinction of our products, as well as the commitment and expertise of our teams.”

Arnaud Vincent, Managing Director – Healthcare at Eurazeo, added:

“We are very proud that Germitec and its historic shareholders have chosen Eurazeo as lead investor. We have been convinced by the company’s expertise, its innovative position, as demonstrated by its FDA accreditation, and the quality of its management. We are delighted to participate in this new phase for Germitec: the roll-out of its solution in the United States. By supporting Germitec, we are contributing to the advancement of healthcare solutions that respond to major challenges in public healthcare with the prevention of nosocomial infections and are supporting French healthcare sovereignty with products that are fabricated on home soil.”

**********************
1 As part of the Eurazeo Global Investor company.
2 The FDA’s De Novo classification process creates, when the technology is not matched by any other, a new classification validating marketing and distribution of medical devices in the US.
3 September 5th, 2024, Germitec’s press release: Germitec’s Chronos® Achieves First-Ever FDA De Novo: A Breakthrough in Infection Prevention.

Categories: News

Tags: