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Accent Equity-owned TSG acquires AF Shipping, expanding presence in northern Sweden

Accent Equity

  • ThorSvecon Group (TSG) expands into northern Sweden with the acquisition of AF Shipping, based in Umeå
  • This acquisition allows TSG Global Forwarding to strengthen its market position along Sweden’s east coast, offering a comprehensive product portfolio from Oskarshamn in the south to Skellefteå in the north
  • AF Shipping’s founder has re-invested alongside Accent Equity and TSG management

TSG Global Forwarding, part of TSG, has expanded its operations to northern Sweden through the acquisition of AF Shipping, a leading provider of ship and port agency services based in Umeå. Founded in 2002, AF Shipping specializes in ship agency, port agency, and freight forwarding services, with a strong presence in Umeå, Skellefteå, and other key northern Swedish ports.

“The acquisition of AF Shipping is a strategic step in our plan to reinforce our presence in northern Sweden. With AF Shipping now part of TSG, we gain a local foothold in the region’s major ports, enabling us to offer our full range of services, from Oskarshamn to Skellefteå,” said Daniel Berglind, Head of TSG Global Forwarding.

 

Fredrik Lyrenäs, CEO and co-founder of AF Shipping, expressed enthusiasm about joining the TSG Group: “Becoming part of TSG is an exciting milestone for us. We’re now aligned with a company deeply committed to providing locally rooted logistics and transport solutions in a global market. This partnership will allow us to offer our existing clients an enhanced and broader service offering. TSG is the perfect fit for us, as we share a strong entrepreneurial spirit and a customer-first approach.”

 

Looking ahead, Daniel Berglind sees significant opportunities for continued growth: “There’s great potential as we move forward, both through organic growth and strategic acquisitions. This acquisition marks another step in our commitment to expanding our business and delivering enhanced value to our customers.”

For more information, please contact:

Mikael Strand, Associate Partner of Accent Equity, +46 70 542 50 01,
mikael.strand@accentequity.se

Eric Hjalmarsson, CEO ThorSvecon Group, +46 70 331 71 22,
eric.hjalmarsson@tsg.se

Daniel Berglind, Head of TSG Global Forwarding, +46 70 591 41 65,
daniel.berglind@tsg.se

About ThorSvecon Group:
ThorSvecon Group is a logistics company offering door to door sustainable solutions integrating short sea liner services, terminals, warehousing, forwarding and agency services. The group’s short sea liner service is calling ports in Sweden, UK, Netherlands, and Belgium. In the UK, the group operates a port terminal in the port of Hull.
www.tsg.se

About AF Shipping:
AF Shipping was established in 2002 and is based in Umeå. Offered services range from shipping agency and port forwarding to complete logistic solutions including storage handling and land transportations for most type of goods including bulk cargo, general cargo, forest products, and heavy-lift projects. The company is primarily active in the ports of Umeå and Skellefteå.
www.afshipping.se

About Accent Equity:
Accent Equity has since 1994 invested in private Nordic companies where a new partner or owner can serve as a catalyst. Our ambition is to invest in and develop the companies to be Nordic, European or Global leaders through a professional, hands-on and long-term oriented approach that results in superior and sustainable returns.
accentequity.se
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The Rise of Cultivated Meat and the Role of Private Equity in its Development

Grow Meat

Over the past decade, technological innovation has been reshaping the food industry. One of the most groundbreaking advances has been the development of cultivated meat, also known as lab-grown or cultured meat. This revolutionary approach to producing meat aims to address some of the most pressing global challenges, including food security, environmental sustainability, and animal welfare. Behind the scenes, private equity (PE) has played a critical role in accelerating the commercialization and scaling of this nascent sector.

The Science Behind Cultivated Meat
Cultivated meat is produced by taking a small sample of animal cells and growing them in a controlled environment outside the animal’s body. This process mimics natural tissue development, using a bioreactor to provide the cells with essential nutrients, oxygen, and the right conditions to proliferate. Over time, the cells grow into muscle fibers, which can be harvested to create meat products.
The technology offers a way to produce real meat without the need to raise and slaughter animals, which has immense implications for sustainability. Livestock farming is responsible for significant greenhouse gas emissions, deforestation, water usage, and other environmental impacts. By contrast, cultivated meat promises to dramatically reduce the carbon footprint and resource consumption of meat production.

Industry Growth and Challenges
The journey from lab concept to commercial reality has been long and fraught with challenges. In the early stages, the technology was prohibitively expensive. The first lab-grown burger, produced in 2013, cost over $300,000. Since then, costs have plummeted due to advancements in cellular biology, bioreactor design, and scaling methods. However, the sector still faces hurdles such as regulatory approvals, consumer acceptance, and further cost reductions to make the product competitive with conventional meat. Despite these challenges, the cultivated meat industry has been gaining momentum. Companies like Upside Foods, Eat Just, and Mosa Meat are at the forefront of innovation, working to bring cultured meat products to market. Governments have also begun to take notice. In 2020, Singapore became the first country to approve the sale of cultured chicken, marking a significant regulatory milestone.

The Role of Private Equity in Cultivated Meat
Private equity firms have played a pivotal role in the growth of the cultivated meat industry. By providing critical funding during the development and commercialization stages, PE investors have helped bridge the gap between laboratory breakthroughs and mass-market availability. The need for substantial capital has drawn interest from investors who see the potential for high returns in the long run, especially as the demand for sustainable food sources continues to grow.

1. Early-Stage Funding
Initially, cultivated meat startups relied on venture capital and public funding. However, as the industry matured, private equity firms began to step in with larger capital infusions. This shift allowed companies to scale up their operations, invest in large-scale production facilities, and pursue strategic partnerships.

2. Strategic Guidance
Beyond financial support, private equity investors bring valuable strategic guidance to startups in the cultivated meat sector. These investors often have deep experience in scaling companies, navigating regulatory landscapes, and expanding into new markets. By leveraging their expertise, PE firms help companies refine their business models and navigate the complex challenges of commercializing a novel product.
3. Focus on ESG (Environmental, Social, Governance)
Many private equity firms have increasingly incorporated ESG criteria into their investment decisions. Cultivated meat aligns well with these goals, as it addresses environmental sustainability, reduces the ethical concerns surrounding traditional livestock farming, and promises to create a more secure global food system. This alignment makes cultivated meat an attractive target for impact investors who are not only looking for financial returns but also seeking to drive positive environmental and social outcomes.

4. Accelerating Market Entry
Private equity-backed companies in the cultivated meat space are in a race to get products on the market. PE funding enables firms to ramp up production and accelerate timelines for market entry, often with the aim of achieving first-mover advantages. This is critical in an industry where regulatory approvals and consumer trust are key to success. For instance, the aforementioned approval in Singapore signaled the importance of navigating complex regulatory environments—a process that can be significantly eased with well-funded, well-connected investors.

Private Equity and the Future of Cultivated Meat
As the cultivated meat industry continues to grow, private equity’s involvement is likely to deepen. In addition to the economic drivers, there are broader social and environmental imperatives that make this industry particularly compelling for long-term investment. With global meat consumption expected to rise by nearly 73% by 2050, according to the Food and Agriculture Organization (FAO), the pressure on traditional meat production methods will only increase. Cultivated meat could emerge as a critical solution to meet this demand without exacerbating environmental degradation.
Private equity’s role in this evolution cannot be understated. By providing the capital, expertise, and strategic support needed to overcome regulatory, cost, and scalability challenges, PE investors are helping to turn the vision of cultivated meat into a viable, scalable, and profitable reality. As more private capital flows into the sector, cultivated meat companies will be better positioned to bring their products to consumers, potentially revolutionizing the food industry in the process.

Conclusion
The development of cultivated meat represents one of the most promising innovations in sustainable food production, with the potential to reduce the environmental footprint of meat consumption and address ethical concerns associated with traditional livestock farming. Private equity firms have played a crucial role in funding and supporting the industry’s growth, helping to bridge the gap between scientific innovation and commercial success. As the technology continues to advance and consumer acceptance grows, the synergy between cultivated meat and private equity investment could redefine the future of food.
***

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Kerv announces strategic acquisition of Microsoft Dynamics consultancy, Inciper

Bridgepoint
Today, Bridgepoint portfolio company Kerv has announced the acquisition of Inciper – a consultancy focused on the implementation and support of Microsoft Business Applications and Data Analytics with particularly specialisms in Dynamics for Finance & Operations, the large-scale Enterprise Resource Planning (ERP) platform. The acquisition brings with it Inciper’s 75 expert practitioners and the combined operations will create in Kerv a unique capability – expertise across the entire range of Microsoft Dynamics 365 business applications and the ability to transform organisations across all aspects of their operations – from mid-market to the largest enterprises and Public Sector organisations.

The Inciper team will join Kerv Digital, the Group’s Microsoft-aligned Digital Transformation practice, and will continue to be led by their founders, Mark Roberts and Dave Sanderson.

Speaking about the acquisition and the Inciper team, Kerv’s executive chair Alastair Mills said “We are delighted to welcome the Inciper team to Kerv. Mark and Dave have built a fantastic business that is well known for their leading position in the Microsoft Dynamics F&O market. We know there is a strong cultural alignment between the teams and together, we’ll focus on our achieving our mission of helping organisations harness the power of technology for the good of our people, our customers, our society and our planet.”

Mark Roberts, Inciper’s co-founder, said: “We are incredibly proud of what Inciper has become over the past eight years and, from the very first conversation with the Kerv team, we recognised that we’d found a kindred spirit, with such close alignment in many areas including the importance of customer and employee experience.  That, combined with the excellent capability fit across the two companies, means we are really excited about what the future holds for Inciper within the Kerv Group.”

Robin Lawson, Partner at Bridgepoint Development Capital, said: “Inciper is a highly complementary first acquisition for Kerv since our investment earlier in 2024, enhancing its specialist capabilities within the high-growth dynamics and data space. Inciper’s expertise will allow Kerv to continue winning large and complex transformations, further positioning the business as a leading digital transformation partner in the UK.”

Inciper serves mid-market, enterprise and large public sector organisations including The Welsh Government, Marston Holdings and M&S, and brings additional revenues in excess of £10m to Kerv, together with an organic growth rate of 20%. Inciper is a highly accredited, directly managed partner of Microsoft, and is widely recognised for its expertise in the Microsoft Dynamics 365 CE & F&O, Power Platform and data platform & analytics capabilities.

Funding was provided by Kerv’s existing investment partner Bridgepoint, via its Bridgepoint Development Capital franchise, with additional support from existing investor LDC and facilities from Apera.

The transaction closed on 30 September 2024.

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CDPQ increases its stake in Saputo Inc.

Cdpq

CDPQ, a global investment group, today announced an additional investment of approximately $378 million in Saputo Inc. (TSE: SAP), a world leader in the processing, production, marketing and distribution of dairy products.

CDPQ’s stake in the company now totals approximatively 4.5%, following the acquisition of 13.5 million shares at a price of $27.96 per share. CDPQ’s first stake in Saputo dates back to 1997.

Founded in Montréal in 1954, Saputo is now one of the top ten dairy processors in the world. The Québec company produces and distributes a wide range of dairy products in Canada, Australia and Argentina, among other countries. Saputo is also one of the three largest cheese manufacturers in the United States, and the largest manufacturer of branded cheese and dairy spreads in the United Kingdom.

“CDPQ is proud to continue supporting Saputo, a leading Québec company, by increasing its stake in this world leader in dairy processing,” said Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ. “We’ve been a shareholder of the company for nearly 30 years, and this investment aligns with our strategy to foster the emergence of North American and international champions while generating benefits for Québec.”

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, CDPQ works alongside its 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 –

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819 Capital Partners announces acquisition of Travelhome

819 Capital Partners

Deventer, October 3, 2024 – 819 Capital Partners has acquired Travelhome, the Dutch market leader in global motorhome travel. Together with general director Perry van de Wiel, we have acquired Travelhome from ANWB through a management buy-out.

 

Travelhome has been part of ANWB since 2008. Travelhome will continue as the exclusive partner of ANWB for developing and providing motorhome vacations, ensuring the continuity and quality of its offerings and services.

Following our recent acquisition of ANWB Reizen/Fox Reizen, our add-on acquisition of Travelhome is a logical step. We can actively support accelerating and executing Travelhome’s European expansion strategy.

Perry van de Wiel, director of Travelhome, stated: “We are extremely proud of this next step in our company’s 38-year history. ANWB has contributed greatly to our success over the past 16 years; it has been a wonderful journey together. This management buy-out opens new opportunities for us, particularly through our collaboration with 819 Capital Partners, allowing us to be part of a larger travel group once again, Travel C Group. Travelhome will become part of the same group as Fox Reizen. The collaboration between these companies offers significant benefits for customers, including a broader range of travel options.”

Sven Kempers, director of 819 Capital Partners, added: “Travelhome has a long history of strong performance and is the market leader in the Netherlands for global motorhome trips. Our acquisition of Travelhome is a logical follow-up to our recent acquisition of Fox Reizen. With this, we strengthen the travel group within 819 Private Equity Fund.”

We have acquired Travelhome with 819 Private Equity Fund I.

Other publications: anwb.nl

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Apollo to Provide €1 Billion Capital Solution to Vonovia in Third Transaction

Apollo logo

NEW YORK, Oct. 02, 2024 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that it has entered into an agreement for Apollo affiliates and other long term investors to provide c. €1 billion to acquire a minority stake in one of Vonovia’s affiliates. This commitment follows two previous €1 billion transactions between Vonovia and Apollo in 2023, related to Vonovia’s real estate portfolios in Southwest Germany and Northern Germany. The latest agreement brings Apollo affiliates and funds total arranged commitments to Vonovia entities to €3 billion.

Apollo Partner Jamshid Ehsani said, “Apollo is very pleased to further expand our partnership with Vonovia and assist Germany’s largest residential real estate company in reaching its strategic objectives. It is yet another example of Apollo’s ability to commit its capital resources and provide bespoke, scaled solutions to our closest corporate relationships around the world. This investment marks our third transaction with Vonovia and underscores Apollo’s role as an ongoing trusted partner to some of the largest global corporations.”

Since 2020, under its High Grade Capital Solutions strategy Apollo has originated nearly $100 billion of bespoke capital solutions for leading companies such as Intel, Sony, Air France, AB InBev and more. Apollo believes it is uniquely positioned to serve the needs of large high quality corporates and retirement services companies, given the firm’s structuring, investment and syndication capabilities and scaled capital base.

Latham & Watkins LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal counsel to Apollo, while Apollo Capital Solution is providing structuring and syndication services in connection with the transaction. Deutsche Bank is acting as exclusive financial advisor to Vonovia, and Freshfields Bruckhaus Deringer is serving as legal counsel to Vonovia.

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 to private equity with a focus on three investing strategies: yield, hybrid, and 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 June 30, 2024, Apollo had approximately $696 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

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Tikehau Capital and Cresco Real Estate acquire 30,000 square metre office property in Berlin

Tikehau

Berlin, Frankfurt, 2 October 2024 – Tikehau Capital, the global alternative asset management group, together with Cresco Real Estate (Cresco), an owner-managed real estate investor and developer, has acquired a 30,000 square-metre office property in Berlin-Weissensee from a private individual in an off-market transaction.

The property, which was built in 1998, is fully let to the German Federal Institute for Real Estate (BImA). The location at DGZ-Ring 3-14 in Berlin-Weissensee is a well-established administrative area with good public transport connections. The joint venture plans to invest in implementing sustainability measures in the existing property, aiming to be in line with the requirements of the EU taxonomy. This initiative aims to enhance the energy efficiency of the asset to meet advanced sustainability standards.

Steffen Meinshausen, Head of Real Estate Germany at Tikehau Capital, comments: “This acquisition signals Tikehau Capital’s commitment to sustainable urban improvement and is an important milestone for Tikehau Capital’s German real estate business. It represents the first German transaction in the second generation of our pan-European value-add real estate strategy, which is designed to pursue long-term ESG objectives. In Cresco, we have a strong partner by our side, bringing extensive experience in the sustainable repositioning of existing real estate.”

Daniel Schuldig, Co-Founding Partner of Cresco, says: “We are actively using the current market phase for acquisitions in Germany. We see high potential in established office properties in well-connected areas of A and B cities, where we can sustainably reposition properties through asset management and development measures. We look forward to unlocking this potential in our first joint venture deal with Tikehau Capital.” Tikehau Capital and Cresco Real Estate Management were legally advised by Dechert, Hogan Lovells and Goodwin Procter during the transaction. ***

Press Contacts:

Tikehau Capital – Valérie Sueur – +33 1 53 59 03 64 UK –

Prosek Partners: Philip Walters – +44 (0)7773331589 press@tikehaucapital.com

Cresco Real Estate: Volker Binnenböse – Senior Advisor Feldhoff & Cie. GmbH +49 179 701 58 35 vb@feldhoff-cie.de

Shareholder and investor contacts (Tikehau Capital) Louis Igonet – +33 1 40 06 11 11 Théodora Xu – +33 1 40 06 18 56 shareholders@tikehaucapital.com

About Tikehau Capital: Tikehau Capital is a global alternative asset management Group with €46.1 billion of assets under management (at 30 June 2024). Tikehau Capital has developed a wide range of expertise across four asset classes (private debt, real assets, private equity and capital markets strategies) as well as multiasset and special opportunities strategies. Tikehau Capital is a founder-led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives. Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society. Leveraging its strong equity base (€3.1 billion of shareholders’ equity at 30 June 2024), the Group invests its own capital alongside its investor-clients within each of its strategies. Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 763 employees (at 30 June 2024) across its 17 offices (at 31 July 2024) in Europe, the Middle East, Asia and North America. Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612; Ticker: TKO.FP). For more information, please visit: www.tikehaucapital.com.

About Cresco Real Estate: Cresco Real Estate (“Cresco”) is a real estate investor, developer and asset manager active since 2006 with extensive experience in the office, residential and hotel asset classes. The group employs 65 people in offices in Berlin and Luxembourg and manages investment assets of approximately €2.0 billion. Cresco has developed a large number of projects in Germany, including the landmark hotel Soho House Berlin. For more information, please visit: www.crescore.de 2

Disclaimer

The strategy mentioned in this press release is reserved for professional investors and is managed by Tikehau Investment Management SAS, a portfolio management company approved by the AMF since 19/01/ 2007 under the number GP-07000006. Non-contractual document intended exclusively for journalists and media professionals. The information is provided for the sole purpose of enabling them to have an overview of the transactions, whatever the use they make of it, which is exclusively a matter of their editorial independence, for which Tikehau Capital declines all responsibility. This document does not constitute an offer to sell securities or investment advisory services. This document contains only general information and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current forecasts, prevailing market and economic conditions, estimates, projections and opinions of Tikehau Capital and/or its affiliates. Owing to various risks and uncertainties actual results may differ materially from those reflected or expected in such forward-looking statements or in any of the case studies or forecasts. Tikehau Capital accepts no liability, direct or indirect, arising from the information contained in this document. Tikehau Capital shall not be liable for any decision taken on the basis of any information contained in this document. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relate to Tikehau Capital North America

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Altor to partner with iconic hockey brand CCM Hockey

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STOCKHOLM/MONTREAL, October 2, 2024 – Altor Fund VI (“Altor”) has signed an agreement to acquire a significant majority stake in the iconic hockey brand CCM Hockey. CCM’s management will reinvest in the company. Altor will support CCM and existing management to accelerate and unlock growth opportunities in both current and new segments, products and markets. Altor’s track record of building world-class consumer brands and support to realize their untapped potential has attracted companies like the global fashion house Toteme, the winter sports brand Rossignol Group, and the audio powerhouse Marshall Group.

Established in 1899, CCM is a global hockey brand with a rich history of equipping the best hockey players in the world for over a century. Today, CCM is a leading designer, manufacturer and marketer of high-performance hockey equipment, accessories, figure skates and apparel. CCM has a presence in more than 40 countries and is represented by many NHL and PWHL superstars such as Auston Matthews, Sidney Crosby, Connor McDavid, Thatcher Demko and Sarah Nurse. In the Nordics, CCM has a long history of building Nordic champions like Jofa and Koho. The group will remain headquartered in Montreal, Canada, with operations in Canada, the United States, Europe and Asia.

“CCM is a fantastic company with an iconic brand and impressive history. We understand why sport lovers have turned to CCM for quality equipment for over a century. We are impressed by the durability and innovation that continues to keep the performance of their products at the forefront. We are excited to partner with the management team and accelerate the growth journey for CCM. Together we will continue the tradition of making sure that all players and goalies are represented in the best possible way in the sport they love.” says Andreas Källström Säfweräng, Partner and Head of the Consumer Sector at Altor.

“Over the years we have built a strong team, attracted loyal customers and placed products innovation at the center of our strategy to secure long term success. As we celebrate our 125th anniversary, we are entering an era where we will truly benefit from Altor’s long experience of backing renowned sporting and consumer brands and helping to unlock new growth opportunities. I am excited to join this partnership with Altor and reach the next levels on our growth journey together.” says Marrouane Nabih, CEO at CCM Hockey.

The transaction is expected to close by the end of 2024 and is subject to customary closing conditions, including necessary regulatory clearances.

About Altor

Since inception, the family of Altor funds has raised more than EUR 11 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Marshall, Rossignol, Toteme, Helly Hansen and Revolutionrace.

About CCM

CCM Hockey, a leading designer, manufacturer, and marketer of hockey equipment, and Jackson Ultima, a global leader in figure skate boots, blades and complete skates. With its headquarters located in Montreal, the company has operations in Canada, the United States, Europe and Asia. CCM Hockey equips more professional hockey players than any other company, including NHL and PWHL stars like Auston Matthews, Sidney Crosby, Connor McDavid, Thatcher Demko, Kendall Coyne-Schofield, Sarah Nurse, Taylor Heise and Erin Ambrose. CCM Hockey is also an official supplier of the PWHL, and the official outfitter of the American Hockey League, the Canadian Hockey League, and several NCAA and National teams.

Press contact

Karin Åström

Head of Communications

karin.astrom@altor.com

+46 707 64 86 59

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Ratos Company HL Display acquires Kost Klip Manufacturing Ltd.

Ratos

HL Display (HL) has acquired Kost Klip Manufacturing Ltd. (kostklip), a Canadian manufacturer of in-store communication and shelf management solutions for the retail industry. This acquisition will expand HL’s footprint to North America, further strengthening its position as a leading supplier for in-store merchandising and communication solutions.

Canadian kostklip is a manufacturer of high-quality in-store communication and merchandising solutions for the North American retail industry, based in Vancouver. Since 1969, kostklip has provided retailers with innovative, customer-driven solutions to reduce operational costs and boost sales. The company has 110 employees and generates annual net sales of 24 MCAD with a customer base mainly in grocery retail and electronic shelf label (ESL) suppliers.

“This is yet another step on HL’s profitable growth journey. It is characterized by underlying good organic growth combined with a high acquisition rate of fine companies, precisely the type of deals that have great industrial synergies. Add-on acquisitions of this type are highly value-creating and an important part of Ratos’s strategy,” says Anders Slettengren, Chairman of the Board of HL Display and Executive Vice President, Ratos.

“I am pleased to announce the acquisition of kostklip. Through the acquisition, we gain an increased presence and a stronger sales channel for HL’s leading portfolio of solutions on the North American market. It also gives us the opportunity to build on our similar heritage in extrusion and price communication. HL’s extensive experience within ESL attachments in Europe and our production facilities in both Europe and Asia will further strengthen kostklip’s already strong position on attachments in the expanding North American ESL market,” says Björn Borgman, CEO of HL Display.

About HL Display
HL is a leader in in-store merchandising and communication solutions, helping customers to create a better shopping in-store experience for shoppers and personnel. Founded in 1954, HL today is present in more than 70 countries and solutions can be found in 330,000 stores, supporting customers to grow sales, inspire shoppers, drive efficiency, and reduce waste. The three customer segments are retail food, branded good suppliers and non-food retail. The HL Display Group has its headquarters in Stockholm, Sweden and sales offices in 25 countries covering 31 markets as well as distribution partners covering the remaining markets globally. The seven production facilities are located in Sweden, Poland, Germany, the UK and China and handle a variety of industrial processes, including plastics and metal fabrication, printing and assembly. The company has 1,300 employees and net sales of 2,400 MSEK.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21
Björn Borgman, CEO, HL Display, +46 72 264 17 90

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 17 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 33 billion in net sales (June 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.

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Powin Secures $200 Million in Debt Capital From KKR to Bolster Growth and Innovation in Energy Storage

KKR

PORTLAND, Ore.–(BUSINESS WIRE)–Powin, a global leader in battery energy storage solutions, announced today that it has successfully secured a revolving credit facility of up to $200 million primarily from insurance accounts managed by KKR, a leading global investment firm. The facility will be instrumental in supporting Powin’s working capital needs, driving continued innovation, and further enhancing the company’s financial flexibility as it expands its leadership position in the storage industry.

This strengthened capital position improves Powin’s ability to seize the immense market opportunity and meet the surging demand in the rapidly expanding global energy storage sector. Bloomberg New Energy Finance forecasts that the energy storage market will exceed 100 gigawatt-hours of capacity in 2024 and is poised to grow at an annual rate of 21%, reaching 442 gigawatt-hours by 2030. The rising global demand for energy storage is fueled by the rapid expansion of renewable energy sources along with the increasing need for grid stability and resiliency.

“We are excited to have KKR, a renowned leader in the investment community, supporting our mission to be the most trusted energy storage partner in the industry,” said Jeff Waters, CEO of Powin. “This facility enables us to accelerate our expansion, drive innovation, and maximize value for our customers, reinforcing our commitment to advancing a sustainable energy future.”

“Powin stands out as a leader and innovator in the clean energy space. We are proud to support them and their efforts to expand the use of battery energy storage systems through our deep experience in Asset-Based Finance,” said Sam Mencoff, a Director at KKR.

This strategic liquidity package underscores the strong confidence that investors have in Powin’s vision and future growth. Equity investors in the company include Greenbelt Capital Partners, Trilantic, and Energy Impact Partners. Guggenheim Securities, LLC, a renowned global investment and advisory firm, played a pivotal role as Powin’s financial advisor, facilitating the successful completion of this capital raise.

About Powin:

At Powin, we are advancing the next frontier of energy and changing the way we power our daily lives by ensuring access to clean, resilient, and affordable power. With 17 GWh of projects deployed and under construction, we are a leading and trusted energy storage provider dedicated to creating an exceptional customer experience through end-to-end energy storage solutions. As a global energy storage platform provider, we offer fully integrated battery solutions, software, and services to optimize grid performance and enable the transition to cleaner energy sources. To learn more, please visit www.powin.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.

Contacts

Kate Adams
powin@pancomm.com

 

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