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AnaCap-backed platform Wealthtime becomes a fully integrated wealth manager, and rebrands to The Quanta Group, following the acquisition of Craven Street Wealth

Anacap

AnaCap, a market-leading private equity investor specialising in partnering with founders and entrepreneurial management teams across services, technology and software within the European financial ecosystem, today announces the successful transformation of its investment in platform business Wealthtime to a fully integrated wealth manager, under the new brand The Quanta Group, following the acquisition of Craven Street Wealth.

Craven Street Wealth is an independent chartered financial planning and wealth management firm with £2bn Assets under Management (“AuM”) and a strong presence across London and southern England. Craven Street Wealth has a proven track record of acquiring and integrating IFAs, having completed 3 deals in the past 4 years. The Quanta Group will use Craven Street Wealth as a platform to pursue an acquisition strategy in the fragmented IFA market. This will continue to build scale while also providing customers with a full holistic offering across Advice, Platform, and Investment Management.

The newly formed Quanta Group, led by CEO Patrick Mill, will maintain operational independence between its key business units. This includes Craven Street Wealth for independent financial advice, Wealthtime for wealth management platform services and Investment Management through Copia Capital.

Additionally, the Quanta Group has also secured a landmark 10-year partnership with Wipro, a global technology services leader, and GBST, their technology partner. This collaboration puts customers at the heart of platform service delivery, focusing on creating a seamless, intuitive and personalised digital experience. The partnership combines Wipro’s expertise in Business Process Outsourcing (“BPO”) for streamlined operations with GBST’s advanced technology services, facilitating clients to receive a best-in-class service through an enhanced user-friendly platform.

Nassim Cherchali, Managing Partner at AnaCap, commented:
“The launch of the AnaCap-backed The Quanta Group marks a significant milestone and statement of intent as we bring together market-leading capabilities to deliver a next-generation digital-first wealth management platform. The Quanta Group’s 10-year partnership with Wipro and GBST is very exciting and underscores its continued commitment to innovation. The acquisition of Craven Street Wealth further strengthens its position with deep financial planning expertise and extends the service offering capabilities for The Quanta Group’s client base. We are excited to offer all clients under The Quanta Group umbrella a seamless, technology-driven experience.”

Rob Massey, Partner at AnaCap, continued:
“With the successful acquisition of Craven Street Wealth, The Quanta Group is now in a position to offer customers the full suite of wealth management services from advice through to investment management, supporting organic growth across all arms of the business. The Quanta Group is also well placed to continue consolidation within the UK IFA market, which remains highly fragmented. The team at Craven Street Wealth bring a huge amount of experience and expertise, along with a proven track record of acquisition and integration, providing the strong foundation for future expansion. We are thrilled to have Tom Barnett and the wider team join the Group and are excited about the road ahead.”

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EQT to acquire Eagle Railcar Services from JM Texas Companies

eqt

Eagle Image

  • Eagle Railcar Services is a leading, independent provider of regulatorily mandated railcar repair and maintenance services in North America
  • The Company is well-positioned to benefit from significant industry tailwinds, including growth in domestic industrial and chemicals activity, tightening rail safety regulation, and an increasing share of rail borne transportation across the United States 
  • EQT looks forward to partnering with founder and CEO Marc Walraven to support Eagle Railcar Services through its next phase of growth 

EQT is pleased to announce that the EQT Infrastructure VI fund (“EQT”) has entered into a definitive agreement to acquire Eagle Railcar Services (“Eagle” or the “Company”).

Founded in 2001 by Marc and Joe Walraven, Eagle has grown from just one location in Elkhart, Texas to 13 full-service repair and maintenance facilities strategically located across the United States. Headquartered in Eastland, Texas, the Company now operates as a mission-critical, fully-integrated rail services facility network providing inspection, repair and maintenance services to railcars, ensuring the safe, efficient and low-carbon transport of hazardous and non-hazardous materials throughout the country. Now with c. 1,500 employees, Eagle serves as a trusted partner to customers across a diverse range of states and sectors, including chemicals, agriculture, energy and industrial manufacturing. 

Railcar maintenance is a highly resilient and growing market segment supported by thematic tailwinds, including increased regulatory and stakeholder scrutiny on safety, and heightened industrial production and nearshoring. Alongside Marc and the entire Eagle team, EQT aims to solidify the Company’s position as a leading, national railcar repair and maintenance facility network, and support its mission to enable the safe transit of essential commodities, reduce emissions through rail transport, and extend the lifespan of railcars.

EQT will partner with Eagle’s management team to position the Company for long-term success, leveraging its deep expertise in investing behind North American transportation and logistics assets to help unlock value creation across operational excellence, automation and digitization, and geographic growth. 

Neha Jatar, Managing Director within EQT’s Infrastructure Advisory Team, said: “Eagle utilizes its network of repair and maintenance facilities to provide regulated and essential services to owners of railcars, facilitating the safe transportation of chemicals and other materials that are critical to the global economy. We are excited by the opportunity to partner with Marc and the management team to support Eagle’s network of facilities, employees, and customers in their next phase of growth.” 

Marc Walraven, CEO of Eagle Railcar Services, said: “Partnering  with EQT marks an exciting new chapter for Eagle. EQT’s deep industry expertise and investment capabilities will help fuel our continued growth, enhance our service offerings, and expand our footprint. Together, we are committed to continuing to deliver superior value to our customers.”

The transaction is subject to customary conditions and approvals. It is expected to close in Q2 2025.

EQT was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP.

With this transaction, EQT Infrastructure VI is expected to be 45-50 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

Contact

EQT Press Office, press@eqtpartners.co

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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 Eagle Railcar Services

Eagle Railcar Services is North America’s largest independent railcar repair and maintenance provider, operating 13 facilities across the U.S. The Company specializes in full-service tank car repair, regulatory compliance services, and requalification inspections, ensuring the safe and efficient operation of rail assets.

More info: https://www.eaglerailcar.com/

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Softbauware joins the enventa Group

Main Capital Partners

Main Capital Partners (“Main”) announces the aquisition of Softbauware by eventa Group.

March 31 2025, Munich – enventa Group, a business software provider of ERP, BI, treasury management, and bookkeeping solutions, announces the acquisition of Softbauware Group, consisting of Softbauware GmbH and GESYS GmbH & Co. KG. The acquisition marks an important step in enventa Group’s mission to create an integrated suite of business software, offering their customers an even more comprehensive set of solutions. The group expands its footprint within the industry-specific construction trade sector, thereby taking an important step in further establishing itself as a wholistic ERP vendor for industry-specific verticals in the German-speaking SME market.

Founded in 1993 in Langen, Germany, Softbauware specializes in industry-specific ERP solutions tailored to the concrete, building materials, brick, and prefabricated construction sectors. Softbauware’s reach sits adjacent to enventa’s existing vertical focus, making this acquisition a logical next step in enventa’s buy-and-build strategy within the core ERP market.

With the addition of Softbauware, enventa Group significantly expands its vertical focus, thereby providing a beneficial extension of its reach while offering strong cross- and up-sell potential. With its sticky and loyal customer base, Softbauware has developed itself as a market-leading player in its respective verticals over the years. Furthermore, the company has proven to continuously expand its vertical coverage over the past years, with brick manufacturing and prefabricated building industries as examples. The combined group of Softbauware and enventa currently generates more than EUR 40m in annual revenue.

Their industry-specific expertise makes them the ideal partner for the enventa Group,”

– Sven van Berge, Managing Partner and Head of DACH at Main

Stéphanie Kliner, Co-CEO of enventa Group, comments: “The goal of our organization is to be a wholistic vendor of a comprehensive set of digital solutions. Through our vertical focus we can provide immense benefits to our customers. We are pleased to further expand our vertical reach through the combination with Softbauware and are excited about the steps that lie ahead of us as a combined group.”

Andreas Hougardy, Founder & CEO of Softbauware, mentions: “Softbauware adds important qualities to enventa’s vertical specific ERP offering. We are excited for the steps that lie ahead]”

Sven van Berge Henegouwen, Managing Partner at Main Capital Partners, concludes: “We are excited to welcome Softbauware as part of the enventa Group. Their industry-specific expertise makes them the ideal partner for the enventa Group, and we are thrilled to unlock the benefits of this combination. We are confident that our growth initiatives will continue to improve the group’s value proposition towards existing and new customers.”

About Softbauware

Softbauware provides industry-specific ERP solutions tailored for the concrete, building materials, brick, and prefabricated construction sectors. The company offers a complete ERP solution with CRM, DMS and BI functionalities for more than 200 customers. Softbauware is founded in 1993 in Langen, Germany. Some notable customers of the group include Syspro, Baufritz, Heidelberg Materials, and Kortmann Beton.

About enventa

enventa Group supports medium-sized companies and larger corporations in generating added value from their valuable data and automating and streamlining business processes. The group is a consolidation of six software companies including, Nissen & Velten (ERP), texdata (ERP), aruba BI (BI), Litreca (financial solutions), syska (Bookkeeping solutions) and ERP Novum (ERP). The comprehensive business software group offers a single-source solution to more than 4,000 clients in 10 locations within the German SME market. The company currently employs more than 250 employees and maintains more than 40 partner companies.

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AURELIUS Private Equity to acquire Teijin Automotive Technologies North America

Aurelius Capital
  • The large-scale vertically integrated manufacturer is the North American leader in the design, engineering, and production of advanced composite materials serving the automotive, heavy truck, marine, and recreational vehicle sectors
  • The business generated more than USD 1 billion in revenues in 2024
  • First US-advised transaction by AURELIUS’ recently opened New York office

New York, March 31, 2025 – AURELIUS Private Equity Mid-Market Buyout announces the acquisition of Teijin Automotive Technologies North America (‘TAT-NA’), the leader in advanced composite technologies for the automotive, heavy truck, marine and recreational vehicle sectors, from Japanese ultimate parent company Teijin Limited. This acquisition marks the first transaction advised by the AURELIUS Investment Advisory team in New York, just months after opening its office addressing the North American market.

Headquartered in Auburn Hills, Michigan, TAT-NA employs approximately 4,500 personnel and generates annual revenues exceeding USD 1 billion. With 14 locations across the US and Mexico, the business specializes in the development and production of advanced composite components for the global automotive and transportation industries. TAT-NA’s vertically integrated operating model and market-leading scale provides defensible assets and capabilities to sustain long-standing supply relationships with key OEMs in North America.

AURELIUS will support new growth opportunities for the standalone TAT-NA business, whose unique, durable lightweight composite product offering is powertrain agnostic and hence ideally positioned to meet long-term demand for Class A and structural vehicle components.

“Teijin Automotive Technologies North America has a long history of supplying key players across the North American automotive industry. We are particularly proud of this acquisition as it represents our first transaction advised out of our recently opened New York office. Among other areas, specialists in our Operations Advisory team will focus on delivering a range of value-creation initiatives across the network of manufacturing sites, while also driving operational excellence through enhanced quality and efficiency,” stated Stephan Mayerhausen, Managing Director at AURELIUS Investment Advisory and Head of AURELIUS’ New York Office.

“We are excited about the opportunities ahead for us as we partner with the resources and support of the AURELIUS team,” said Chris Twining, CEO of TAT-NA. “The AURELIUS Operations Advisory team is dedicated to ensuring we maintain our market leadership, and I am looking forward to working with them as we continue to develop new material technologies while improving our operations, efficiency and quality.”

AURELIUS was advised by Greenhill, a Mizuho affiliate (M&A), Baker McKenzie (Legal), EY (Financial, Tax), AON (Insurance) and Ramboll (Environment).

About AURELIUS

AURELIUS is a globally active private equity investor, distinguished and widely recognised for its operational approach. It focuses on Private Equity, Private Debt and Real Estate. Its key investment platforms include AURELIUS European Opportunities IV, AUR Portfolio III and AURELIUS Growth (Wachstumskapital). AURELIUS has been growing significantly in recent years, particularly expanding its global footprint, and today employs approximately 400 professionals in 9 offices spanning Europe and North America.

AURELIUS is a renowned specialist for complex investments with operational improvement potential such as carve-outs, platform build-ups or succession solutions as well as bespoke financing solutions. To date, AURELIUS has completed more than 300 transactions, and has built a strong track record of delivering attractive returns to its investors. Its approach is characterised by its uncompromising focus on operational excellence and an unrivalled ability to efficiently execute highly complex transactions. For more information visit www.aurelius-group.com.

About Teijin Automotive Technologies North America

Teijin Automotive Technologies North America specializes in the development and production of advanced composite components – including carbon and glass fiber – for the automotive and transportation industries. The company is a leader in composite formulations with a focus on providing automakers with lightweight, durable products that enable design and packaging flexibility. Headquartered in Auburn Hills, Michigan, USA, Teijin Automotive Technologies North America has 14 operations in the U.S. and Mexico and employs more than 4,500 people. For more information visit teijinautomotive.com.

Media contact for questions regarding the transaction:

Harald Kinzler
Head of Communications
harald.kinzler@aurelius-group.com
+44 7785 722 191

Media contact for questions specific to Teijin Automotive:
Kim Zitny
Director, Corporate Communications +1 248 535 6944

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Equistone-backed adm Group acquires Indicia Worldwide

Equistone

Equistone Partners Europe (“Equistone”) today announces that it has supported its portfolio company adm Group (“adm”), a leading global marketing execution partner, with the acquisition of Indicia Worldwide, a pioneering, ROI-driven communications and production agency, from Konica Minolta, Inc. Completion of the transaction is subject to the customary regulatory approvals and projected to take place in Q2 2025. The financial terms of the deal are undisclosed.

Headquartered in London and with offices in Bristol, New York, Sydney, Edinburgh, Madrid, Singapore and Tokyo, Indicia Worldwide brings together creative, data and technology talent with production and procurement expertise to improve both marketing performance and production efficiencies for brands.

Founded in 1992, adm Group provides sustainable brand execution and supply chain solutions for a diverse multinational client base. The acquisition of Indicia Worldwide and the subsequent merging of the businesses will see adm’s global footprint grow to 46 offices in 33 countries, serving over 800 brands worldwide.

Since investing in the business in 2021, Equistone has worked closely with the adm Group management team on providing the business with access to the capital and experience in M&A execution to continue scaling the business through targeted acquisitions. The acquisition of Indicia Worldwide follows the acquisitions of DASS in 2023 and Lapine and Effectus in 2022.

Tim Swales, Partner at Equistone Partners Europe, said: “We are delighted to have supported adm Group’s management team on what is a hugely important transaction. Indicia Worldwide is an outstanding business, and its unique service offering will strengthen adm’s ability to provide clients with the opportunity to create highly impactful consumer experiences that deliver sustainable and measurable ROI.”

Chris Candfield, Director at Equistone, added: “When we first invested in adm Group in 2021, we knew there was a significant opportunity to consolidate a fragmented market by supporting an ambitious buy-and-build strategy. This acquisition does just that, expanding adm Group’s geographic presence and significantly bolstering its service offering.”

Ed Colflesh, Global CEO of adm Group, said: “This is an exciting day for both adm Group and Indicia Worldwide. By combining our strengths, we are creating a truly unique offering in the market. Our clients will benefit from a single source for all their marketing activation needs, from strategy and creative development to production and delivery, supported by integrated workflow technology driving data-driven insights and impactful brand activation.”

 

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ReliaQuest Raises More Than $500 Million in Funding at a Valuation of $3.4 Billion

KKR

Growth round led by new investor EQT and existing investors KKR and FTV Capital

TAMPA, Fla. & NEW YORK–(BUSINESS WIRE)–ReliaQuest, a leader in AI-powered security operations, today announced a new funding round of more than $500 million led by EQT, KKR and FTV Capital, with participation from other existing investors Ten Eleven Ventures and Finback Investment Partners. The funding round brings ReliaQuest’s valuation to $3.4 billion. This new funding will support ReliaQuest’s continued growth, fueling further innovation in Agentic AI-driven cybersecurity automation and supporting the company’s ongoing international expansion.

ReliaQuest has established itself as a global cybersecurity leader, delivering a differentiated, AI-driven approach to security operations for large enterprises. The company’s technology platform, GreyMatter, seamlessly integrates with over 200 different cybersecurity tools, allowing security teams to leverage their current or future technology stack to drive greater visibility and AI-driven automation. This enables security teams to detect, contain, investigate and respond to cyber threats across a variety of cyber solutions within minutes, all while eliminating the most mundane work out of cybersecurity and delivering more value from existing investments.

This latest round of funding comes at a time of accelerating growth for ReliaQuest. Since the company’s last funding round led by KKR in 2020, the company has grown Annual Recurring Revenue more than 4x – recently surpassing $300 million. ReliaQuest is currently growing at more than 30% year-over-year and operating profitably.

“Everything we have done at ReliaQuest has always been driven by the problem we solve for our customers. Enterprise security teams have more data in more places than ever before, and the speed of the threat is rapidly increasing. CISOs need a way to contain threats within minutes without added cost or technical overhead, leveraging the latest innovations in Agentic AI,” said Brian Murphy, ReliaQuest founder and CEO. “This new investment is a key step along our growth trajectory as a company, but most importantly it will allow us to deliver better security outcomes for even more CISOs around the world.”

“Brian’s passion and dedication to building a world-class, mindset-driven organization is at the core of ReliaQuest’s success and sets a strong foundation upon which to build a category-defining cybersecurity company,” said Kirk Lepke, Partner in the EQT Growth advisory team. “By enriching GreyMatter with AI and automation capabilities, ReliaQuest has accelerated ahead of the pack, and now stands out as one of the only software vendors capable of managing security operations for the most complex enterprise environments. We are delighted to lead this funding round and look forward to supporting the company with our global platform as they continue to deliver solutions needed to push the industry forward.”

“When we first invested in ReliaQuest in 2020, we recognized its enormous potential given the rise of cyberattacks and the challenges cybersecurity teams faced in managing a multitude of tools with limited manpower. Over the years, the company has transformed with its leading AI-driven software platform, a relentless focus on innovation and a unique company culture,” said Stephen Shanley, Partner and Head of Tech Growth in Europe at KKR. Patrick Devine, Managing Director at KKR, continued: “We are thrilled to continue working with Brian and the entire ReliaQuest team as they enter the next phase of their journey.”

“Having partnered with ReliaQuest for nearly a decade, we’ve witnessed first-hand Brian’s visionary leadership and the team’s exceptional ability to innovate and execute as they scaled from a bootstrapped startup to a leading global player in the cybersecurity ecosystem,” said Kyle Griswold, Partner at FTV Capital. “With consistent outperformance and a proven track record of serving many of the world’s largest enterprises, it’s clear that ReliaQuest’s AI-driven platform is uniquely positioned to empower customers with a best-of-breed approach towards cybersecurity, improving automation, operational efficiencies and, most critically, results. As ReliaQuest continues to shape the future of security operations, we are proud to continue our partnership for another successful era of growth ahead.”

In the face of rapidly evolving and increasingly sophisticated cyberattacks, ReliaQuest’s cloud-native GreyMatter technology is helping businesses striving to stay ahead of malicious threats. According to ReliaQuest’s Annual Cyber-Threat Report, threat actors can now move laterally within networks in an average of 48 minutes, highlighting the urgent need for faster, more effective security operations.

ReliaQuest’s GreyMatter platform, powered by Agentic AI models that can operate and learn autonomously, addresses this challenge by automating security processes and significantly reducing the time to contain threats. Using GreyMatter’s automation and AI capabilities, ReliaQuest customers can now perform investigations 20 times faster and with 30% greater accuracy than traditional methods, containing threats within less than five minutes and allowing security teams to focus on higher-level business needs rather than mundane tasks.

Goldman Sachs & Co LLC acted as exclusive financial advisor to ReliaQuest and Gibson Dunn acted as legal counsel to ReliaQuest and KKR. EQT Growth was advised by Piper Sandler and Freshfields US LLP.

About ReliaQuest

ReliaQuest exists to Make Security Possible. Our Agentic AI-powered security operations platform, GreyMatter, allows security teams to detect threats at the source, contain, investigate and respond in less than 5 minutes—eliminating Tier 1 and Tier 2 security operations work. GreyMatter uses data-stitching, detection-at-source, AI, and automation to seamlessly connect telemetry from across cloud, multicloud, and on-premises technologies.

ReliaQuest is the only cybersecurity technology company that delivers outcomes specific to each organization’s unique architecture, technology, and business needs.

With over 1,000 customers and 1,200 teammates across six global operating centers, ReliaQuest Makes Security Possible for the most trusted enterprise brands in the world. Learn more at www.reliaquest.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 KKR

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

About FTV Capital

FTV Capital is a sector-focused growth equity investment firm that has raised more than $10.2 billion to invest in innovative, high-growth companies across enterprise technology and services and financial technology and services. Founded in 1998, FTV has developed a highly differentiated and disciplined growth equity model, which leverages the firm’s deep domain expertise and thematic investing approach to help portfolio companies accelerate growth. FTV also provides companies with access to its Global Partner Network®, a strategic group of more than 600 executives from many of the world’s leading financial services firms and FTV Propel®, an in-house team of seasoned operational leaders who deliver counsel and resources across a range of critical business functions. For more information, please visit www.ftvcapital.com and follow the firm on LinkedIn.

 

Contacts

Media:

ReliaQuest
Kim Hill
khill@reliaquest.com

EQT
Max Berger or Finn McLaughlan
press@eqtpartners.com

KKR
Liidia Liuksila or Emily Cummings
+1 (212) 750-8300
media@kkr.com

FTV Capital
Prosek Partners for FTV Capital
(646) 818-9051
pro-ftvcapital@prosek.com

 

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EQT leads funding round exceeding USD 500 million in ReliaQuest, a leader in AI-powered security operations

eqt

Drone TampaWaterStreet-4

  • Growth round is led by EQT Growth and existing investors KKR and FTV Capital
  • The round values US-based ReliaQuest at USD 3.4 billion

EQT is pleased to announce that the EQT Growth fund (“EQT”), as well as existing investors KKR and FTV Capital, have led a growth funding round in ReliaQuest (the “Company”), a leader in AI-powered security operations. The round brings the Company’s valuation to USD 3.4 billion and is also joined by Ten Eleven Ventures and Finback Investment Partners. This new funding will support ReliaQuest’s continued growth, fueling further innovation in agentic AI-driven cybersecurity automation and supporting the Company’s ongoing international expansion.  

ReliaQuest has established itself as a global cybersecurity leader, delivering a differentiated, AI-driven approach to security operations for large enterprises. The company’s technology platform, GreyMatter, seamlessly integrates with over 200 different cybersecurity tools, allowing security teams to leverage their current or future technology stack to drive greater visibility and AI-driven automation. This enables security teams to detect, contain, investigate and respond to cyber threats across a variety of cyber solutions within minutes, all while eliminating the most mundane cybersecurity work and delivering more value from existing investments.

This latest round comes at a time of accelerating growth for ReliaQuest. Since the Company’s last funding round in 2020, it has grown Annual Recurring Revenue more than 4x – recently surpassing USD 300 million – and is currently growing more than 30 percent year-over-year while operating profitably. 

“Everything we have done at ReliaQuest has always been driven by the problem we solve for our customers. Enterprise security teams have more data in more places than ever before, and the speed of the threat is rapidly increasing. CISOs need a way to contain threats within minutes without added cost or technical overhead, leveraging the latest innovations in Agentic AI,” said Brian Murphy, ReliaQuest founder and CEO. “This new investment is a key step along our growth trajectory as a company, but most importantly it will allow us to deliver better security outcomes for even more CISOs around the world.” 

“Brian’s passion and dedication to building a world-class, mindset-driven organization is at the core of ReliaQuest’s success and sets a strong foundation upon which to build a category-defining cybersecurity company,” said Kirk Lepke, Partner in the EQT Growth advisory team. “By enriching GreyMatter with AI and automation capabilities, ReliaQuest has accelerated ahead of the pack, and now stands out as one of the only software vendors capable of managing security operations for the most complex enterprise environments. We are delighted to lead this funding round and look forward to supporting the company with our global platform as they continue to deliver solutions needed to push the industry forward.”

EQT Growth was advised by Piper Sandler and Freshfields US LLP.

Contact
EQT Press Office, press@eqtpartners.com

Downloads

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 ReliaQuest
ReliaQuest exists to Make Security Possible. Our Agentic AI-powered security operations platform, GreyMatter, allows security teams to detect threats at the source, contain, investigate and respond in less than 5 minutes—eliminating Tier 1 and Tier 2 security operations work. GreyMatter uses data-stitching, detection-at-source, AI, and automation to seamlessly connect telemetry from across cloud, multicloud, and on-premises technologies.

ReliaQuest is the only cybersecurity technology company that delivers outcomes specific to each organization’s unique architecture, technology, and business needs.

With over 1,000 customers and 1,200 teammates across six global operating centers, ReliaQuest Makes Security Possible for the most trusted enterprise brands in the world. Learn more at www.reliaquest.com.

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Main Capital Partners acquires SAP licensing specialist VOQUZ Labs AG

Main Capital Partners (“Main”) announces its seventh platform investment for Main Foundation II.

March 31, 2025, Munich – Main Capital Partners (“Main”) announces its investment in VOQUZ Labs AG (“VOQUZ”), a German provider of SAP license management and IT spend optimization software. The company serves private enterprises, with a comprehensive suite of specialized tools. The acquisition marks the seventh platform investment for Main’s latest fund, Main Foundation II, launched in April 2024.

On March 28, 2025, shareholders of VOQUZ Labs AG, listed on the open market of the Munich Stock Exchange and Vienna Stock Exchange (ISIN: DE000A3CSTW4) signed a share purchase agreement with Main for the sale of their 95.3% stake in the company. The transaction, which values VOQUZ Labs in the lower double-digit million range, is expected to close by the end of April 2025. Following completion, Main intends to initiate a squeeze-out of minority shareholders in accordance with applicable legal provisions.

VOQUZ Labs, headquartered in Berlin, employs approximately 40 staff and offers a highly specialized software portfolio including samQ, visoryQ, and remQ. These solutions enable enterprises to automate SAP license management, streamline access governance, and ensure compliance. A core strength of VOQUZ lies in its ability to optimize and automatically reassign SAP-licenses, delivering significant SAP cost savings and ensuring that customers remain continuously and optimally licensed.

In addition, VOQUZ plays a strategic role in supporting organizations with their S/4HANA migration and RISE with SAP journeys. The company provides tools to calculate tailored business case scenarios, helping customers determine the most efficient and cost-effective S/4HANA license setup — a critical factor in successful SAP transformation initiatives.

With a global customer base of over 230 organizations and active operations across Europe, the Americas, and Asia, VOQUZ has built a strong reputation as a trusted partner in the complex world of SAP licensing and IT financial governance. While the SAP ecosystem is undergoing a significant transformation driven by the global shift to S/4HANA and RISE with SAP, VOQUZ is well-positioned to support enterprise clients through this transition. As organizations face increasing complexity and cost pressure during their migration, VOQUZ’s solutions provide critical tools to ensure optimize licensing and build cost-efficient migration scenarios.

The existing VOQUZ management team will work closely with Main to accelerate both organic and inorganic growth initiatives. Main brings a strong track record in scaling B2B software companies. Together, the partnership will focus on strengthening VOQUZ’s leadership position in SAP optimization, expanding its international presence, and further developing its innovative product suite.

Note: The shares of VOQUZ Labs AG are not listed on a regulated market within the meaning of Section 1(1) of the German Securities Acquisition and Takeover Act (WpÜG). Therefore, Main is not required and does not intend to submit a takeover offer to the remaining shareholders.

Martin Kögel, CEO of VOQUZ, said, “We are proud and excited to announce our partnership with Main Capital Partners and are convinced that Main is the ideal partner, bringing unmatched expertise in the software buy-and-build market. This success wouldn’t be possible without the dedicated team we’ve built and the strong partners we’ve surrounded ourselves with. We’re looking forward to the next chapter.”

Sven van Berge, Managing Partner and Head of DACH at Main, concluded, “We have closely followed VOQUZ’s development and see strong capabilities in navigating the complexities of SAP license management, compliance, and IT cost control. With continued strong demand for IT cost transparency and control, we consider the business a great fit for our portfolio.”

With continued strong demand for IT cost transparency and control, we consider the business a great fit for our portfolio.”

– Sven van Berge, Managing Partner and Head of DACH at Main

Martin Kögel, CEO of VOQUZ, said, “We are proud and excited to announce our partnership with Main Capital Partners and are convinced that Main is the ideal partner, bringing unmatched expertise in the software buy-and-build market. This success wouldn’t be possible without the dedicated team we’ve built and the strong partners we’ve surrounded ourselves with. We’re looking forward to the next chapter.”

Sven van Berge, Managing Partner and Head of DACH at Main, concluded, “We have closely followed VOQUZ’s development and see strong capabilities in navigating the complexities of SAP license management, compliance, and IT cost control. With continued strong demand for IT cost transparency and control, we consider the business a great fit for our portfolio.”

About VOQUZ

VOQUZ Labs, headquartered in Berlin, is a leading provider of software solutions for SAP license management, authorization, and compliance management. The company offers a specialized portfolio including products like samQ, setQ, visoryQ, and remQ, designed to optimize license costs and streamline SAP access control. With offices across Europe, North and South America, and Asia, VOQUZ Labs supports organizations worldwide in making their SAP environments more cost efficient and compliant.

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Topcon to Accelerate Growth through Management Buyout with KKR and JIC Capital

KKR

Powerful combination of KKR and JICC creates stable foundations for Topcon to pursue long-term growth

TOKYO–(BUSINESS WIRE)– Topcon Corporation (“Topcon” or the “Company”; TSE stock code 7732) today announced that it is launching a management buyout (“MBO”) led by Topcon President and CEO Takashi Eto. The MBO will receive investment from funds managed by KKR, a leading global investment firm, and JIC Capital (“JICC”), a wholly owned subsidiary of Japan Investment Corporation (“JIC”). In connection with the MBO, TK Co., Ltd. (the “Offeror”), an entity owned by investment funds managed by KKR, intends to make a tender offer for the common shares and share acquisition rights, etc. of the Company. Topcon’s Board of Directors has resolved to support this tender offer and recommends that shareholders and share acquisition right holders tender their securities.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250327998023/en/

The tender offer price will be JPY 3,300 per share, determined after negotiations between KKR and Topcon.

The proposed tender offer price represents1:

  • A 99.5% premium over the simple average closing price of Topcon’s stock for the 12 months up to December 9, 2024; and
  • A 105.2% premium over the simple average closing price of Topcon’s stock for the 6 months up to December 9, 2024.

KKR is making this investment predominantly from its Asian Fund IV, and it is planned that KKR will indirectly hold a majority interest in Topcon. Following the completion of the tender offer, JICC intends to indirectly hold voting rights in Topcon through JIC PE Fund No. 1 and JIC PE Co-Investment Fund No. 1, investment limited partnerships managed by JICC. Topcon President and CEO Takashi Eto also intends to participate in the tender offer and plans to make a reinvestment after the completion of the tender offer; the details of his investment are yet to be determined.

Topcon is pursuing its long-term vision leading up to its 100th anniversary in 2032, and the Company has been implementing its “Mid-Term Management Plan 2025” covering the fiscal years 2023–2025. Under this plan, Topcon has pursued sustainable business growth and improved profitability by deepening its orientation towards customers, and as the next step, the Company aims to evolve into “New Topcon 2.0,” a business structure that will further accelerate the competitiveness of the Topcon Group. In particular, to transform its eye care business from a hardware-based business to a solutions business, and to achieve further growth in its positioning business, where the competitive environment is rapidly changing, the Company believes that bold, long-term investments and fundamental transformations beyond conventional business reforms are necessary.

Following an in-depth evaluation of all options, Topcon concluded that a management buyout in strategic partnership with KKR and JICC offers the Company the best path to achieve its long-term objectives and enhance its corporate value to benefit all stakeholders, including shareholders. Topcon’s competitive edge lies in the combination of its advanced hardware design and manufacturing capabilities, rooted in Japanese craftsmanship, and its rapidly growing solutions business, particularly in the United States. Topcon believes that it is essential to develop an agile corporate structure to undertake bold investments and implement long-term initiatives. As a private company, the strategic partnership and patient capital support from KKR and JICC will enable Topcon to stay agile, undertake the bold investments and implement the long-term initiatives needed to accelerate its growth and strengthen its competitiveness. Topcon’s current management team will continue to operate the Company and work with its shareholders to implement management initiatives to efficiently and quickly achieve its long-term goals.

Additionally, Topcon leverages its cutting-edge optical technology to develop and manufacture products for the space and defense industry, which is critical to Japan’s national security. Therefore, JICC’s investment will help the Company to develop these business areas and increase its value in the long term.

For KKR, Japan is a key market for its Asia Pacific and global strategy; it has around $18 billion in assets under management in the country. In the ophthalmology sector related to Topcon’s business, KKR has a long track record, including National Vision, an optical retailer in the US; nexeye, a provider of value-for-money eye care in Europe; and Lenskart, an omni-channel eyewear retailer in India, and in the adjacent construction and civil engineering fields within the industrial sector, GeoStabilization International, a provider of geohazard mitigation solutions and roadway safety services in the US. KKR looks to support Topcon’s growth after the privatization by leveraging its global network, deep operational expertise and investment experience in the ophthalmology, healthcare, and industrial sectors to share best practices and help Topcon expand internationally, including in the US, a priority market.

JICC, as a government-affiliated fund, has built deep public-private networks and operational know-how through extensive investment experience in Japan and overseas. JICC will support Topcon’s transformation into a global solutions company centered on its eye care business, which will contribute to the creation of new industries and strengthen international competitiveness, and JICC will support this due to its policy significance. In particular, JICC’s long-term, neutral funds will be essential to support Topcon’s long-term structural reforms and growth strategies. Also, JICC will complement KKR’s private markets expertise, with this combination of public and private funds providing medium- to long-term risk sharing and strong capital and credit alignment.

Takashi Eto, President and CEO of Topcon, said “Today’s announcement represents a crucial step in realizing “Topcon 2.0” and in achieving our long-term vision and to drive future growth. Strategically partnering with KKR and JICC will enable us to focus on bold, agile investments and management initiatives, including structural reforms, without being constrained by potential short-term uncertainties. I am confident that our close alignment between the management team and our future shareholders for this MBO will enable us to address mid- to long-term challenges together, implement management initiatives more effectively, and accelerate our business expansion.”

Hiro Hirano, Deputy Executive Chairman of KKR Asia Pacific and CEO of KKR Japan, said, “We have long admired Topcon’s strong product offering and are delighted to have the opportunity to invest behind their long-term global ambitions. As like-minded strategic partners, we are also pleased to join forces with JICC, who possess a deeply unique understanding of Japan and Topcon’s critical sectors and equal commitment towards the Company’s success. We look forward to collaborating closely with Mr. Eto and his talented management team and JICC to help Topcon accelerate its growth, including through our global network of industry experts and portfolio companies, and achieve its goal of becoming a leading global solutions company.”

Shogo Ikeuchi, President and CEO of JIC Capital, said, “This transaction and joint investment with KKR marks a significant milestone for JICC. We believe that this strategic partnership between our three companies will certainly enhance the stability of Topcon’s management, while at the same time paving the way for KKR to contribute significantly to Topcon’s business. KKR has unique strengths that other investors and companies cannot achieve, and by making the most of KKR’s outstanding strategic insights and resources, we are confident that Topcon will be able to achieve sustainable, stable growth and strengthen its leadership in the global market. Topcon is an excellent example of Japan’s manufacturing prowess, and JICC aims to be a strong partner for Topcon to continue to grow its business in Japan and achieve its bold corporate strategy to transform from a hardware company to a global solutions business with significant overseas growth.”

The tender offer is expected to commence around the end of July 2025, subject to the satisfaction or waiver of certain conditions precedent, including regulatory approvals in Japan and other jurisdictions. For details regarding the conditions of the commencement of the tender offer, please refer to the full text of the release issued by the Offeror today titled, “Notice Regarding the Planned Commencement of Tender Offer for the Shares of Topcon Corporation (Securities Code: 7732) by TK Co., Ltd. as part of the MBO Implementation and Capital Participation by KKR and JICC.”

Forward-looking Statements

This press release should be read in conjunction with the release issued by the Offeror today titled “Notice Regarding the Planned Commencement of Tender Offer for the Shares of Topcon Corporation (Securities Code: 7732) by TK Co., Ltd. as part of the MBO Implementation and Capital Participation by KKR and JICC”.

The purpose of this press release is to publicly announce the tender offer and it has not been prepared for the purpose of soliciting an offer to sell or purchase in the tender offer. When making an application to tender, please be sure to read the Tender Offer Explanatory Statement for the tender offer and make your own decision as a shareholder or share acquisition right holder. This press release does not constitute, either in whole or in part, a solicitation of an offer to sell or purchase any securities, and the existence of this press release (or any part thereof) or its distribution shall not be construed as a basis for any agreement regarding the tender offer, nor shall it be relied upon in concluding an agreement regarding the tender offer.

The tender offer will be conducted in compliance with the procedures and information disclosure standards set forth in Japanese law, and those procedures and standards are not always the same as the procedures and information disclosure standards in the U.S. In particular, neither Sections 13(e) or 14(d) of the U.S. Securities Exchange Act of 1934 (as amended; the same shall apply hereinafter) or the rules under these sections apply to the tender offer; and therefore the tender offer is not conducted in accordance with those procedures and standards. In addition, because the tender offer is a corporation incorporated outside the U.S., it may be difficult to exercise rights or demands against them that can be asserted based on U.S. securities laws. It also may be impossible to initiate an action against a corporation that is based outside of the U.S. or its officers in a court outside of the U.S. on the grounds of a violation of U.S. securities-related laws. Furthermore, there is no guarantee that a corporation that is based outside of the U.S. or its affiliates may be compelled to submit themselves to the jurisdiction of a U.S. court.

Unless otherwise specified, all procedures relating to the tender offer are to be conducted entirely in Japanese. All or a part of the documentation relating to the tender offer will be prepared in English; however, if there is any discrepancy between the English-language documents and the Japanese-language documents, the Japanese-language documents shall prevail.

This press release includes statements that fall under “forward-looking statements” as defined in Section 27A of the U.S. Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934. Due to known or unknown risks, uncertainties or other factors, actual results may differ materially from the predictions indicated by the statements that are implicitly or explicitly forward-looking statements. Neither the Offeror nor any of its affiliates guarantee that the predictions indicated by the statements that are implicitly or expressly forward-looking statements will materialize. The forward-looking statements in this press release were prepared based on information held by the Offeror as of today, and the Offeror and its affiliates shall not be obliged to amend or revise such statements to reflect future events or circumstances, except as required by laws and regulations.

The Offeror, its and the Company’s respective financial advisors and the tender offer agent (and their respective affiliates) may purchase the common shares and share options of the Company, by means other than the tender offer, or conduct an act aimed at such purchases, for their own account or for their client’s accounts, including in the scope of their ordinary business, to the extent permitted under financial instrument exchange-related laws and regulations, and any other applicable laws and regulations in Japan, in accordance with the requirements of Rule 14e-5(b) of the U.S. Securities Exchange Act of 1934 during the tender offer period. Such purchases may be conducted at the market price through market transactions or at a price determined by negotiations off-market. In the event that information regarding such purchases is disclosed in Japan, such information will also be disclosed on the English website of the person conducting such purchases (or by any other method of public disclosure).

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

About Topcon Corporation

Topcon Corporation is a global leader in the manufacturing of technology designed to address the essential challenges society faces in healthcare, agriculture, and infrastructure. Topcon specializes in developing optical, sensing and control solutions powered by leading digital transformation technologies for these industries. For more information about Topcon (Tokyo Stock Exchange: 7732), visit: www.global.topcon.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.

About JIC Capital

JIC Capital aims to supply risk capital to achieve policy objectives of creating new businesses and industries to realize Society 5.0, promoting business portfolio transformation for enhancing the international competitiveness, and establishing next-generation social infrastructure to promote Digital Transformation (“DX”).

1 Based on the closing price of Topcon on December 9, 2024, the day before speculative media reporting about the bidding process that impacted the Company’s share price.

Media Inquiries

For Topcon Corporation
Takaaki Hirayama
+81-3-3558-2568 (Media) and +81-3-3558-2532 (Investors)

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

For JIC Capital
Communications Group
press@j-ic.co.jp

Source: KKR

 

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EQT Infrastructure VI holds final close at its hard-cap, raising EUR 21.5 billion in total commitments

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EQT Infra VI Close

  • EQT Infrastructure VI raises EUR 21.5 billion in total commitments, including EUR 21.3 billion in fee-generating assets under management, exceeding the EUR 20 billion target and hitting hard-cap
  • This represents a 35 percent increase on the Fund’s predecessor, owing to strong support from both existing and new investors
  • The Fund builds on EQT Value-Add Infrastructure’s more than 15-year track record investing in infrastructure companies that provide essential services to society across Europe, North America and Asia Pacific

EQT is pleased to announce the closing of its flagship infrastructure fund, EQT Infrastructure VI (the “Fund”) on EUR 21.5 billion in total commitments, including EUR 21.3 billion in fee-generating assets under management. 

EQT Infrastructure VI received commitments from a diversified, global group of institutional investors, including pension funds, sovereign wealth funds, asset managers and insurance companies. The private wealth segment represented an increased share compared to the predecessor vehicle. Fund investors were based across the Americas, Asia Pacific, Europe, the Middle East and the Nordics.

The Fund is 35 percent larger than its predecessor which closed on EUR 15.7 billion in November 2021. EQT Infrastructure VI invests in infrastructure companies that provide essential services to society, have a stable or growing underlying demand, predictable cash flows, and an asset-based, contracted and well-protected business model. It pursues attractive investment themes such as digital infrastructure; generating, storing, and distributing energy; decarbonization and electrification of industrial processes and transport; resource efficiency and circularity; and social infrastructure.

Masoud Homayoun, Head of Infrastructure at EQT, said: “EQT Infrastructure VI has had a great start with 12 highly thematic investments closed or signed. Our sector teams are continuing to deliver on a healthy investment pipeline and we are excited by the large opportunity set underpinned by global, long-term trends such as the transition to a decarbonized and circular economy and the digitalization of society. Our focus remains on creating lasting value in our portfolio and delivering outstanding performance for our clients.” 

Lennart Blecher, Head of Real Assets at EQT, added: “Since its inception in 2008, EQT Infrastructure has grown at pace and today, we have a 130-strong team and three investment strategies: Value-Add, Active Core and the recently launched Transition Infrastructure strategy. We are thrilled to announce the final close of EQT Infrastructure VI, our latest flagship fund within EQT’s EUR 75 billion1 global infrastructure business, and look forward to continuing to scale the platform.” 

Suzanne Donohoe, Chief Commercial Officer at EQT, commented: “We would like to thank our longstanding clients, whose commitments represented around 70% of this fundraise, for their continued confidence in the EQT Value-Add Infrastructure strategy. We are also grateful for our new partners’ trust in EQT and we aim to continue to deliver attractive returns through economic cycles.”

EQT Value-Add Infrastructure takes an industrial approach to value creation in mature infrastructure businesses. It actively partners with high-quality companies with significant and sustainable growth potential to build strong, resilient businesses through hands-on support of management teams, and bringing deep operational expertise in areas such as AI, digitalization and sustainability. The EQT Infrastructure team is further supported by EQT’s Industrial Advisors. This global network of more than 600 business executives and entrepreneurs is engaged in the entire investment process and act as board members to contribute operational and strategic expertise to portfolio companies.

EQT Infrastructure VI is 45-50 percent committed (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication), based on the actual fund size. The Fund has closed ten investments, including in Constellation Cold Logistics, OX2, Statera and Universidad Europea in Europe; a new partnership with EdgeConnex, Arcwood Environmental (formerly Heritage Environmental Services), Lazer Logistics and Madison Energy Infrastructure in the US; and Rena (formerly KJ Environment) and SK Shieldus in Asia Pacific. It has also announced entering into exclusive negotiations to acquire a majority stake in Eutelsat Group’s ground station infrastructure business in Europe and a Joint Venture with T-Mobile to acquire Lumos in the US. 

Contact

Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15

EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

1Total AuM as of December 2024

About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of three decades of developing companies across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. EQT has 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.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in more than 25 countries across Europe, Asia and the Americas and has more than 1,900 employees

More info: www.eqtgroup.com

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