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Echandia Closes a €19.6mn Financing Round Led by Alantra’s €210mn Energy Transition Fund, Klima

Alantra

• The investment will support Echandia, a leading Swedish supplier of maritime battery systems, in its global expansion, including a new production facility in the U.S., to meet the growing demand for maritime battery solutions

• Echandia joins Klima’s diverse portfolio of eight high-growth companies driving innovation in energy transition

• Klima is supported by Alantra, Enagás, the European Investment Fund, the Canadian Pension Fund, and Axis ICO, reinforcing its role in financing sustainable energy solutions

 

Stockholm, 3 March 2025 – Alantra’s energy transition fund, Klima, has led a €19.6mn financing round for Echandia, a leading Swedish supplier of maritime battery systems. The round also attracted new investors, including Swedish funds Industrifonden and SEB Greentech VC, as well as Japanese venture capital firm EEI.

The capital raised will support Echandia’s global expansion and enhance its production capabilities in Sweden and the U.S. As part of this growth, the company is establishing a new production facility in Washington State, where it will manufacture its advanced maritime battery systems.

The funding will allow Echandia to scale its operations more rapidly and take on larger projects to meet the increasing demand for maritime battery solutions. With shipping accounting for 3% of global CO₂ emissions, decarbonization is a key challenge. Echandia’s technology is particularly well-suited for ferries and navy vessels, where safety and resilience are critical.

Torbjörn Bäck, CEO of Echandia, said: “Echandia is at the forefront of maritime electrification globally, helping customers reduce emissions with clear customer values such as safe, resilient and long-lasting maritime battery systems. We are proud to have closed this large funding round with well-known investors, marking a major milestone for us. Our revenues grew fourfold in 2024 compared to 2023, and with our current sales pipeline, we expect our revenues to triple in 2025. We look forward to continuing Echandia’s scale-up and expansion with our new, highly experienced investors on board.”

Manuel Alamillo, Partner at Alantra’s Energy Transition fund, Klima, added: “Decarbonizing hard-to-abate sectors like shipping, aviation, and heavy industry is critical to achieving our global climate goals. These sectors represent a significant portion of global emissions, accounting for about 30% of global GHG emissions and they lack readily available solutions. Investing in these sectors isn’t just an environmental imperative, it’s an economic one. By investing in and supporting Echandia’s energy storage solutions, we are excited to accelerate the decarbonization of the maritime sector.”

Anna Ljungdahl, Head of Sustainable Investments and Senior Investment Director at Industrifonden, concluded: “Echandia is at the forefront of innovation, meeting the demanding requirements of sectors like military and defense, making its solution truly remarkable. We look forward to commercializing the product globally alongside the team and a strong international investor base, providing financial stability and industry expertise.”

The financing round brings Echandia into Klima’s portfolio, which now includes eight companies: MainSpring Energy, Meteomatics, Sunroof, Enmacc, Eturnity, GridBeyond, and SWTCH Energy. The investment follows Klima’s recent participation in Meteomatics’ Series C funding round last month, aimed at scaling the company’s high-resolution weather technology and expanding into the U.S.

Alantra’s €210mn energy transition fund, Klima, invests in high-growth companies across key energy transition sectors. Supported by Alantra and Enagás as sponsors, Klima also counts the European Investment Fund, the Canadian Pension Fund, and Axis ICO among its key investors.

 

 

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Henrik Müller-Hansen joins the Patricia Industries Board

Investor

Henrik Müller-Hansen, CEO and founder of the Norwegian company Gelato has been appointed to the Board of Directors of Patricia Industries.

“I am grateful that Henrik Müller-Hansen has accepted to join the Patricia Industries Board. We look forward to working with Henrik and benefiting from his strategic capabilities, his industrial experience within telecom and his learnings from successfully building up an enterprise that today has employees from over 50 countries and offices around the world”, says Marcus Wallenberg, Chair of Patricia Industries.

Prior to funding Gelato, Henrik Müller-Hansen spent several years at Tele2, including as CEO for their Norwegian entity 2003-2006.

As of March 10, 2025, the Patricia Board consists of: Gunnar Brock, Christian Cederholm, Henrik Müller-Hansen, Denise Persson, Åsa Riisberg, Inge Thulin, Jacob Wallenberg and Marcus Wallenberg.

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Investor AB, founded by the Wallenberg family in 1916, creates value for people and society by building strong and sustainable companies. Through substantial ownership and board participation, we drive initiatives that we believe create value and support our companies to remain or become best-in-class. Our portfolio is organized in three business areas: Listed Companies, Patricia Industries and Investments in EQT.

For further information:

Jacob Lund, Chief Communications & Sustainability Officer,
Phone +46 725 60 21 57
jacob.lund@investorab.com

Magnus Dalhammar, Head of Investor Relations,
Phone +46 73 524 2130
magnus.dalhammar@investorab.com

Categories: People

Adelis Equity Partners Closes EUR 1.6 billion Fourth Fund

Adelis Equity

Adelis Equity Partners Fund IV has held a final close. The Fund will continue its predecessor funds’ focus on growth-oriented investments in the Nordic and DACH regions.

Adelis Equity Partners Fund IV (Adelis IV) held a final close on 28 February 2025, following a quick and successful fundraising. The Fund, which was significantly oversubscribed, raised EUR 1.5 billion from external investors, on top of which Adelis’ employees have committed to invest 7.7% (equivalent to EUR 116 million) for a total fund size of EUR 1.616 billion.

Investors in Adelis IV include leading pension funds, foundations and fund-of-funds from Europe and North America. Seventy-five per cent of the Fund’s external capital came from investors in Adelis Equity Partners Fund III, who collectively increased their investment amount by 30% compared to the Fund’s predecessor.

Adelis is a growth partner for well-positioned companies in the Nordic and DACH regions. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has consistently been one of the most active investors in the Nordic middle-market, making 45 platform investments and more than 260 add-on acquisitions.

Adelis Equity Partners Fund III raised EUR 932 million in 2021. Since its inception, the firm has raised EUR 4.25 billion of capital across four flagship funds and two continuation vehicles.

“We are grateful for the strong support from our existing investors and very pleased to have broadened our investor base with additional blue-chip institutions from Europe and North America” says Jan Åkesson at Adelis.

Adelis received legal advice from Akin Gump Strauss Hauer & Feld and Vinge in the fundraising process. Park Hill Group served as exclusive placement adviser.

For further information:

Jan Åkesson, Chairman and Co-Founder, + 46 8 525 200 01.

Adalbjörn Stefansson, Head of Investor Relations, +46 8 525 200 04.

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Blackstone Announces Agreement to Acquire a Majority Stake in CMIC Co., Ltd., Japan’s Leading Contract Research Organization, Continuing Robust Deal Momentum in Japan

Blackstone

Tokyo – March 3, 2025 – Blackstone (NYSE:BX) announced today that private equity funds managed by Blackstone (“Blackstone”) have entered into a definitive agreement to acquire a majority stake in CMIC Co., Ltd. (“CMIC” or “the Company”), Japan’s leading contract research organization (CRO) that provides comprehensive end-to-end services across clinical trial phases and therapeutic areas. Blackstone will acquire a 60% stake while CMIC HOLDINGS Co., Ltd. (“CMIC HD”) will retain the remaining 40% stake in the Company.

This investment underscores Blackstone’s commitment to investing in Japan’s healthcare services sector, where it has deep expertise and network.

Atsuhiko Sakamoto, Head of Private Equity, Blackstone Japan, said: “This is a continuation of our strong commitment to Japan – one of our fastest-growing markets globally – and investing in our high conviction theme, life-sciences-related services, where we’ve built a meaningful portfolio in Japan and around the world. We’re focused on bringing critical medicines and technologies to the Japanese market and helping transform the industry and patients’ lives. We’re proud to showcase a hallmark Blackstone deal: partnering with a visionary founder and the management team to help build the business for lasting value, benefitting from our scale, operational expertise, and synergy across our portfolio.”

CMIC was founded in 1992 as the first CRO in Japan. It has pioneered the sector, partnering with pharmaceutical and biotechnology companies to help develop medicines and bring them to the market faster and more efficiently.

Kazuo Nakamura, Founder, Chairman & Chief Executive Officer, CMIC HD, said: “We are thrilled to partner with Blackstone, the world’s leading alternative investor, and continue CMIC’s growth. CMIC, as the first pioneer, brings 33 years of industry heritage and has become the top player in Asia, serving as a critical partner to healthcare and pharmaceutical institutions, individuals, and the government. We couldn’t be prouder of how the Company is positioned today and expect Blackstone to play a key role in further unlocking the Company’s potential.”

Blackstone had one of its most active years in Japan last year. In Private Equity, Blackstone announced four landmark transactions including I’rom Group, Japan’s leading SMO; Infocom, the leading provider of digital comics in one of the largest deals in 2024; Sony Payment Services, a carveout of Sony’s payment service provider; and the sale of Alinamin after transforming the company into a market leader. In Real Estate, Blackstone announced the acquisition of Tokyo Garden Terrace Kioicho, Japan’s largest real estate investment ever by a foreign investor.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1.1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

Media Contact
Mariko Sanchanta
mariko.sanchanta@blackstone.com
080 8702 7386

Minako Otani
blackstone@kekstcnc.com
+81 (0)3 5156 0190
+81 (0) 90 3239 9348

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Firefly Aerospace Becomes First Commercial Company to Successfully Land on the Moon

Ae Industrial Partners

Cedar Park, Texas, March 2, 2025 – Firefly Aerospace, the leader in end-to-end responsive space services, today announced its Blue Ghost lunar lander softly touched down on the Moon’s surface in an upright, stable configuration on the company’s first attempt. As part of NASA’s Commercial Lunar Payload Services (CLPS) initiative, Firefly’s Blue Ghost Mission 1, named Ghost Riders in the Sky, sets the tone for the future of exploration across cislunar space as the first commercial company in history to achieve a fully successful soft-landing on the Moon.

“Firefly is literally and figuratively over the Moon,” said Jason Kim, CEO of Firefly Aerospace. “Our Blue Ghost lunar lander now has a permanent home on the lunar surface with 10 NASA payloads and a plaque with every Firefly employee’s name. This bold, unstoppable team has proven we’re well equipped to deliver reliable, affordable access to the Moon, and we won’t stop there. With annual lunar missions, Firefly is paving the way for a lasting lunar presence that will help unlock access to the rest of the solar system for our nation, our partners, and the world.”

Carrying 10 NASA instruments, Blue Ghost completed a precision landing in Mare Crisium at 2:34 a.m. CST on March 2 and touched down within its 100-meter landing target next to a volcanic feature called Mons Latreille. Blue Ghost’s shock absorbing legs stabilized the lander as it touched down and inertial readings confirmed the lander is upright in a stable configuration. Following touchdown, Firefly is successfully commanding and communicating with the lander from its Mission Operations Center in Cedar Park, Texas.

Blue Ghost will now begin its surface operations and support several NASA science and technology demonstrations over the next 14 days – equivalent to a full lunar day. The surface operations include lunar subsurface drilling, sample collection, X-ray imaging, and dust mitigation experiments. On March 14, Firefly expects to capture high-definition imagery of a total eclipse when the Earth blocks the sun above the Moon’s horizon. On March 16, Blue Ghost will then capture the lunar sunset, providing data on how lunar dust levitates due to solar influences and creates a lunar horizon glow first documented by Eugene Cernan on Apollo 17. Following the sunset, Blue Ghost will operate several hours into the lunar night and continue to capture imagery that observes how levitating dust behavior changes after the sunset.

“With the hardest part behind us, Firefly looks forward to completing more than 14 days of surface operations, again raising the bar for commercial cislunar capabilities,” said Shea Ferring, Chief Technology Officer at Firefly Aerospace. “Just through transit to the Moon, Firefly’s mission has already delivered the most science data to date for the NASA CLPS initiative. CLPS has played a key role in Firefly’s evolution from a rocket company to a provider of launch, lunar, and on-orbit services from LEO to cislunar and beyond. We want to thank NASA for entrusting in the Firefly team, and we look forward to delivering even more science data that supports future human missions to the Moon and Mars.”

Throughout its 45-day journey to the Moon, Blue Ghost traveled more than 2.8 million miles, downlinked more than 27 GB of data, and supported several payload science operations. This included signal tracking from the Global Navigation Satellite System at a record-breaking distance with the LuGRE payload, radiation tolerant computing through the Van Allen Belts with the RadPC payload, and measurements of magnetic field changes with the LMS payload.

Firefly will continue to provide regular updates on the Blue Ghost Mission 1 webpage through the completion of the mission. NASA’s Artemis blog will share additional details on payload operations.

About Firefly Aerospace
Firefly Aerospace is an end-to-end responsive space company with launch, lunar, and on-orbit services. Headquartered in central Texas, Firefly is a portfolio company of AE Industrial Partners (“AEI”) focused on delivering rapid, reliable, and affordable space access for government and commercial customers. Firefly’s small- to medium-lift launch vehicles, lunar landers, and orbital vehicles provide the space industry with a single source for missions from low Earth orbit to the surface of the Moon and beyond. For more information, visit www.fireflyspace.com.

Media Contact
press@fireflyspace.com

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KKR Provides Bespoke Financing Solution to Australian GP Group Family Doctor

KKR

SYDNEY–(BUSINESS WIRE)– KKR, a leading global investment firm, and Family Doctor Pty Ltd. (“Family Doctor”), a leading group of general practitioner (“GP”) clinics in Australia, today announced a bespoke financing solution by KKR (through funds managed by KKR) to Family Doctor. KKR’s bespoke financing solution positions the Family Doctor to accelerate its growth and expansion, including through acquisitions.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250302805504/en/

Founded in 2008, Family Doctor provides comprehensive medical care services through its network of more than 110 GP-run clinics located in key metropolitan and regional areas across Australia, including Victoria, Queensland, Western Australia, New South Wales, the Australian Capital Territory, and South Australia.

KKR’s Asia Pacific Credit platform seeks to provide, among other private credit strategies, bespoke solutions to high-quality companies, entrepreneurs and sponsors that harness the strength of KKR’s private markets investment capabilities and its expertise as one of the largest alternative credit managers globally. These bespoke structures allow entrepreneurs to retain equity ownership and control in their businesses whilst accessing deep capital pools that allow them to meet their objectives to invest in growth or return capital to shareholders.

Diane Raposio, Partner and Head of Asia Credit and Markets, KKR, said, “We are pleased to provide a bespoke financing solution to Family Doctor and Dr. Aziz, who has established one of Australia’s leading networks of GP clinics. Our investment builds on our experience and ability to work with homegrown champions and entrepreneurs in Australia, a key market for KKR across multiple private credit strategies. We look forward to sharing our global network and expertise to support the Company on their mission to extend high-quality patient care and their expansion plans.”

Dr. Rodney Aziz, Founder, CEO and Principal GP at Family Doctor, said, “Over the last more than 17 years, we have grown from a single clinic to one of Australia’s largest medical centre groups. The bespoke financing solution provided by KKR allows Family Doctor to stay true to our mission of being 100% doctor-owned and providing quality care and services. As we look forward to scaling our impact and our next phase of growth, we are delighted to collaborate with KKR on a flexible finance solution that not only is tailored to our stage of growth but also brings KKR’s global knowledge and know-how to our platform.”

KKR is making its investment from its Asia Pacific Credit strategy. In Australia, KKR has provided bespoke solutions to DBG Health (a leading pharmaceutical company) and Lendi (a leading fintech), and financings to companies and sponsors across a range of industries and private credit strategies. Since 2019, KKR has closed more than 50 credit investments in Asia Pacific, accounting for a total transaction value of close to US$21 billion.

***

About Family Doctor

Family Doctor is a 100% GP owned group of 110 medical and dental practices across Australia enabling delivery of 3.2 million high quality medical consultations to Australians in metro and regional areas each year. Family Doctor is the fastest growing medical group in Australia, and is keen to support like-minded practice owners with their succession planning.

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 Inquiries

For more information, please contact:

For Family Doctor
Dr Rodney Aziz, CEO and Principal GP
+61 03 8592 9855
rod@familydoctor.com.au

For KKR
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

Source: KKR & Co. Inc.

 

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Apollo Names Shimpei Kanzaki as Japan Global Wealth Head

Apollo logo

TOKYO, March 02, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced it has hired Shimpei Kanzaki as a Managing Director and Head of Japan Global Wealth. Kanzaki brings more than 20 years’ experience in alternative investments, private markets and the wealth management industry, and will report to Edward Moon, Partner and Head of Asia Pacific Global Wealth for Apollo.

Moon said, “We are pleased to welcome Shimpei, who brings to Apollo significant industry experience and a proven track record of business building in the Japan wealth market. Following our successful expansion in Hong Kong and Singapore, we look forward to growing in Japan, expanding our product suite and partnering with Japanese distributors across wealth channels.”

Apollo Partner and Chief Client and Product Development Officer Stephanie Drescher added, “Japan is a key growth market for Apollo, where we see our disciplined investment philosophy and strong focus on investor alignment resonate with clients. With Shimpei’s appointment, we are thrilled to grow our Wealth presence in Japan to help more clients access private market strategies and the potential excess return and diversification benefits we seek to provide.”

Shimpei Kanzaki, Managing Director and Head of Japan Global Wealth at Apollo, said: “Apollo has a strong reputation as a leading alternative asset manager with an established track record originating investment-grade, yield-oriented assets. I am excited to join the firm to introduce our tailored solutions to Japanese investors by building strong partnerships with the leading distributors in Japan.”

Prior to joining Apollo, Kanzaki was a Director at KKR and head of its wealth solutions business in Japan, after joining in 2022. Previously, he led the hedge funds product specialist team at UBS and held senior roles at Credit Suisse, Mirabaud, and Man Group, specializing in hedge fund strategies, portfolio management, and business development.

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, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

Investor and Media Relations Contacts

For investors please contact:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
212-822-0540
IR@apollo.com.

For media inquiries please contact:
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
212-822-0491
Communications@apollo.com.

Categories: People

Apollo Names Shimpei Kanzaki as Japan Global Wealth Head

Apollo logo

TOKYO, March 02, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced it has hired Shimpei Kanzaki as a Managing Director and Head of Japan Global Wealth. Kanzaki brings more than 20 years’ experience in alternative investments, private markets and the wealth management industry, and will report to Edward Moon, Partner and Head of Asia Pacific Global Wealth for Apollo.

Moon said, “We are pleased to welcome Shimpei, who brings to Apollo significant industry experience and a proven track record of business building in the Japan wealth market. Following our successful expansion in Hong Kong and Singapore, we look forward to growing in Japan, expanding our product suite and partnering with Japanese distributors across wealth channels.”

Apollo Partner and Chief Client and Product Development Officer Stephanie Drescher added, “Japan is a key growth market for Apollo, where we see our disciplined investment philosophy and strong focus on investor alignment resonate with clients. With Shimpei’s appointment, we are thrilled to grow our Wealth presence in Japan to help more clients access private market strategies and the potential excess return and diversification benefits we seek to provide.”

Shimpei Kanzaki, Managing Director and Head of Japan Global Wealth at Apollo, said: “Apollo has a strong reputation as a leading alternative asset manager with an established track record originating investment-grade, yield-oriented assets. I am excited to join the firm to introduce our tailored solutions to Japanese investors by building strong partnerships with the leading distributors in Japan.”

Prior to joining Apollo, Kanzaki was a Director at KKR and head of its wealth solutions business in Japan, after joining in 2022. Previously, he led the hedge funds product specialist team at UBS and held senior roles at Credit Suisse, Mirabaud, and Man Group, specializing in hedge fund strategies, portfolio management, and business development.

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, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

Investor and Media Relations Contacts

For investors please contact:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
212-822-0540
IR@apollo.com.

For media inquiries please contact:
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
212-822-0491
Communications@apollo.com.

Categories: People

Apax Funds increase their investment in ECI Software Solutions

Apax

Funds advised by Apax Partners LLP, a leading global private equity advisory firm, today announced that they have reached a definitive agreement to increase their equity stake in ECI Software Solutions (“ECI” or the “Company”), a global, industry-specific, cloud-based business management software provider. Upon completion of the transaction, the Apax Funds will become a co-control owner of ECI, in partnership with Leonard Green & Partners, L.P. (“LGP”). In addition, and as part of the transaction, GIC made a substantial new investment in ECI to help support the continued growth of the Company.

The Apax Funds first invested in ECI, which provides mission-critical management solutions for small- and medium-sized businesses in key markets, primarily manufacturing, building supply, distribution and office technology, in 2017. They subsequently helped to develop the Company into a leading SaaS business through investment in its core products, international expansion and M&A, including 27 acquisitions since their original investment. In 2020, the Apax Funds sold a majority stake in ECI to LGP, while retaining a minority interest in the business.

Going forward, the Apax Funds and LGP will help ECI to further grow its presence in its core verticals, and target continued M&A in a highly fragmented market, with the opportunity to enter new sectors through acquisitions. ECI has experienced rapid growth in recent years, both organically and through a number of strategic acquisitions. It now has 25,000 customers in 90 countries around the world and employs 2,100 people across 20 offices.

The Apax Funds have established a leading track record in software investing over more than 20 years, investing more than $10 billion of equity during the period. The Funds are supported by an investment team with deep market expertise, as well as Apax’s Operational Excellence Practice, which focuses on identifying and executing levers to drive value creation.

Jason Wright, Partner at Apax, said: “Since the Apax Funds first invested eight years ago, ECI has transformed into a scaled and market-leading SaaS provider. Its organic growth has accelerated meaningfully while, at the same time, the Company has achieved a five-fold expansion in EBITDA. We are backing mission-critical software players like ECI to create sub-sector champions, using our deep experience of the sector and leveraging our Operational Excellence team to drive value creation. We look forward to continuing our partnership with the management team and LGP to drive this growth.”

Adam Garson, Partner at Apax, added: “ECI is a leading provider of core systems software, with a strong position in each of the end markets that it serves. We look forward to deepening our partnership with Trevor and the broader ECI management team, alongside Leonard Green and GIC, to support the business in continuing to accelerate growth both organically and through M&A.”

Trevor Gruenewald, CEO of ECI, said: “Our partnership with the Apax Funds over the past eight years, alongside support from LGP since 2020, has fueled consistent growth and established us as market leaders in mission critical systems for the small to medium business customers we serve. Their increased investment, combined with their deep operational and sector expertise, will allow us to continue on this trajectory—expanding our presence in key verticals where we already excel and accelerating our M&A strategy to enter new areas.”

Usama Cortas, Partner at LGP, said: “It has been a privilege for LGP to be part of the ECI story over the past four years. We have worked closely with Trevor and the ECI management team to build a mission-critical software ecosystem that supports the activities and growth of small- to medium-sized businesses around the world. During our partnership period, ECI has accelerated its organic growth and capitalized on a number of strategic and accretive M&A opportunities. This transaction underscores the strength of the Company, its talented management team, and its significant growth opportunities.”

Tommy Yin, Principal at LGP, said: “Since we partnered with the ECI team over four years ago, they have consistently been a strong performer delivering exceptional growth and value to all stakeholders. ECI’s management has led a best-in-class software organization and we believe there is considerable opportunity to further strengthen and expand the Company’s software offering. We look forward to continue working with Apax and the management team through the next phase of the Company’s growth.”

Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC, said: “Our investment in ECI aligns with GIC’s commitment to support market-leading companies with long-term growth potential. With its deep market knowledge and unyielding customer focus, ECI has built a strong portfolio of purpose-built products that SMB customers need. We are excited to partner with ECI’s proven management team, and our partners at Apax and LGP, in supporting the next phase of ECI’s journey.”

Barclays and Centerview Partners LLC acted as joint co-lead financial advisors and Skadden, Arps, Slate, Meager & Flom acted as legal advisor to Apax. Jefferies LLC and Moelis & Company LLC acted as joint co-lead financial advisors, and Latham & Watkins LLP acted as legal advisor to ECI.

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EQT completes sale of shares in Azelis Group NV

eqt
  • The sale resulted in aggregate gross proceeds of c. EUR 366 million, of which EQT received c. EUR 333 million

Akita I S.à r.L., an entity indirectly controlled by an affiliate of the fund known as EQT VIII (“EQT”) is pleased to announce the completion of the sale (the “Sale”) of 20 million shares in Azelis Group NV (EBR:AZE) (the “Company”) for aggregate gross proceeds of c. EUR 366 million. As part of the Sale, EQT will receive gross proceeds of c. EUR 333 million. The Sale was completed on February 28, 2025. BNP Paribas, Goldman Sachs and J.P. Morgan acted as joint global coordinators for the Sale.

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 Azelis

Azelis is a leading global innovation service provider for the specialty chemicals and food ingredients industry. The Company serves more than 63,000 customers who benefit from its application know-how, technical support and have access to a wide product portfolio from more than 2,800 specialty raw material producers. The company has more than 4.200 employees and is present in over 65 countries, with 70 application laboratories globally.

This press release does not constitute an offer of securities for sale in the United States or elsewhere. Securities may not be offered or sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration. There will be no public offering of any of the securities mentioned in this press release in the United States.

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