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KKR BRINGS TOGETHER BETTCHER INDUSTRIES AND FRONTMATEC TO BUILD A GLOBAL LEADER IN PROTEIN PROCESSING AUTOMATION

KKR

NEW YORK – November 10, 2022 – KKR, a leading global investment firm, and Bettcher Industries (“Bettcher”), a KKR portfolio company, today announced that Bettcher has completed the acquisition of Frontmatec, a global manufacturer of end-to-end automated solutions for pork and beef processing with world-class robotics capabilities. Frontmatec will join Bettcher, a leading manufacturer of protein processing equipment, to form a global market leader in protein processing automation.

The acquisition of Frontmatec represents an important step in building a diversified, scaled platform of food processing automation technologies with best-in-class capabilities to serve customers globally. Frontmatec’s leading robotics, vision systems, intelligent software and other capabilities as well as its global footprint and strong presence in Europe, are highly strategic and complementary to Bettcher’s leading focus on semi-automated protein processing tools and automated poultry processing systems.

Dan Daniel, Executive Advisor at KKR and Chairman of Bettcher, said, “We are excited to establish and build a platform that brings together two great companies who share a common vision of solving their customers’ problems in the protein processing automation space. From a strategic standpoint, the acquisition will allow us to invest in even greater innovation that helps our customers achieve enhanced productivity, automation and worker safety on a global scale. We are excited to continue building on the platform from here.”

As part of a KKR-owned platform, Bettcher and Frontmatec will continue to operate independently under their existing brands and leadership teams. The companies expect to collaborate on sharing best practices and driving future innovation and product development. They will also explore further strategic acquisition opportunities, including bringing additional businesses with leading brands into the platform.

Frontmatec CEO, Allan Kristensen, said, “Bringing the strengths of our companies together will enable us to deliver special innovation to the market. Culturally, our two companies are a great fit as we share the same passion for customer focus, developing high-quality solutions that will meet the accelerating global demand for higher yields in production as well as improved food quality and worker/people safety.”

The employee engagement program established by KKR will be extended to all Fontmatec employees. A key pillar of the program is allowing all employees to take part in the benefits of ownership by granting them the opportunity to participate in any equity return alongside KKR.

KKR’s investments in Bettcher and Frontmatec were made through its North America Fund XIII.

About Frontmatec
Headquartered in Kolding, Denmark, Frontmatec is a leader in end-to-end automated solutions for the red meat processing industry. Frontmatec serves customers worldwide through its global manufacturing and service footprint, including many of the world’s largest red meat processors. It is a full-line supplier of processing equipment, parts and services, instruments as well as controls software, which help solve key issues pertaining to yield, health and safety, animal welfare, food quality and more. For more information, please visit https://www.frontmatec.com/en.

About Bettcher Industries
Headquartered in Birmingham, Ohio, Bettcher is a leading developer and manufacturer of innovative equipment in the food processing and medical device industries. The Bettcher portfolio includes the following: Bettcher, a designer and manufacturer of handheld trimmers, tools, and cutting consumables for all protein applications; Cantrell-Gainco, a manufacturer of processing equipment and yield enhancement and yield tracking systems for various protein operations; ICB Greenline, an aftermarket replacement parts and services company focused on poultry processing; and, Exsurco Medical, a leading-edge medical device company that provides innovative products and services to transform surgical grafting, debridement, and recovery outcomes for patients with burn and trauma wounds. For more information, please visit https://www.bettcher.com/en

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 and on Twitter @KKR_Co.

 

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Balance Point Announces its Investment in the Sylmar Group

Balance Point Capital
Westport, CT, November 8, 2022 – Balance Point Capital Advisors, LLC (“Balance Point”), in conjunction with its affiliated fund, Balance Point Capital Partners IV, L.P., is pleased to announce an investment in the Sylmar Group (“Sylmar”, or the “Company”).  Balance Point provided debt capital as part of a flexible financing solution that facilitated Sylmar’s acquisitions of two businesses in the water and wastewater industry.
Founded in 2020, and headquartered in Los Angeles, CA, Sylmar is a buy-and-build platform dedicated to investing in legacy operating businesses in the large, growing, and fragmented water and wastewater industry. Sylmar’s founding team of Peter Brooks and Michael Warady have decades of combined experience across sales, operations, and investment in the water industry, and have worked together since 2017. Sylmar’s first two platform businesses are regional leaders in the Southwest U.S., providing mission critical industrial water treatment and water pump/well maintenance services to commercial and utility customers.
“We are thrilled to partner with the Sylmar team as the Company enters an exciting new phase of growth,” said Balance Point Managing Partner Seth Alvord. “We look forward to supporting the Company as they expand their platform and provide high-quality, essential services to their customers.”
Peter Brooks, co-founder and CEO of Sylmar, said, “Balance Point has been an incredible partner and helped us reach a new level as a business. Everyone on our team appreciates their insight, counsel, and ongoing support as we scale and continue to serve our customers.”
About Balance Point
Balance Point is an alternative investment manager focused on the lower middle market. With approximately $1.7 billion in assets under management, Balance Point invests debt and equity capital in select lower middle market companies across a variety of investment vehicles. Balance Point takes a long-term, partnership approach to investing and is committed to building lasting relationships with its partners, management teams and intermediaries. Balance Point is a registered investment advisor. Further information is available at www.balancepointcapital.com.
About Sylmar Group
Sylmar Group buys and builds mission-critical service businesses in the water and wastewater sector from founders and entrepreneurs. Combining decades of industry experience with committed, patient capital, Sylmar Group scales legacy businesses that serve to protect public health and the environment. For more information about Sylmar, please visit our website at www.sylmargrp.com.

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CNSI and Kepro Announce Merger to Create Leading Healthcare Solutions Company

Apax
8th November 2022

Combined company to drive improvements in health outcomes through technology enablement, data analytics, and clinical expertise

McLean, VA, and Nashville, TN, November 9, 2022 – CNSI, a leading provider of innovative healthcare technology products and solutions, and Kepro, a leading provider of technology-enabled care management, quality oversight, and clinical assessment services announced an agreement to merge. The combined company will help government-sponsored healthcare agencies and payers expand healthcare access, enhance quality, improve health outcomes, and lower costs through its clinical services, provider management, health claims and encounter processing, interoperability, and health analytics services and solutions. CNSI is backed by funds advised by global investment firm Carlyle (NASDAQ: CG), and Kepro is a portfolio company of funds advised by Apax Partners LLP (“Apax Funds”), which will be exiting its investment through this transaction.

Todd Stottlemyer, CNSI’s CEO, will lead the new company. Susan Weaver, MD, Kepro’s President and CEO, will become President. Both leaders will sit on the company’s board of directors.

“The combination of CNSI and Kepro aligns with the strategic objectives of both companies to deploy technology-enabled products, solutions, and services that help our clients achieve their mission and better serve their priority populations,” said Stottlemyer. He added: “I am excited about our ability to provide a full array of services and solutions that will help our clients meet the holistic health needs of those they serve.”

“Healthcare is changing rapidly, and we believe the combination of our capabilities will help our clients meet and adapt to these changes,” said Dr. Weaver. “Kepro gains a partner with extensive large-scale, systems implementation experience, and CNSI gains a partner with deep clinical expertise. Together our employees will also benefit with new opportunities to diversify their skillsets and advance their careers,” Weaver added.

Dayne Baird, CNSI Board Member and Managing Director at Carlyle, said: “We are incredibly excited by the combination of these two highly differentiated businesses and the opportunity to partner with Todd, Susan, and their talented leadership teams. The combination brings CNSI’s leading health technology capabilities together with Kepro’s clinical expertise and unique service offerings, allowing the company to better serve its clients and improve care quality and health outcomes.”

Andrew Cavanna, Kepro Board Member and Partner at Apax, said: “We are proud to have supported Kepro in its evolution over the past five years. Through the leadership of Susan and her management team, the business grew its capabilities and the value it delivers to its customers. We wish the combined company every success in the future.”

CNSI is headquartered in McLean, VA, and Kepro is headquartered in Nashville, TN. Both locations will be maintained. The newly merged company will rebrand in early 2023.

The new company is backed by Carlyle (NASDAQ: CG), a global investment firm. Latham & Watkins LLP acted as legal advisor to CNSI and Carlyle. Centerview Partners acted as an investment advisor to Kepro and Apax, and Kirkland & Ellis served as legal advisor to both Kepro and Apax. The transaction is expected to close in December 2022, subject to customary closing conditions.

 

About CNSI

CNSI delivers a broad range of health information technology enterprise solutions and products to a diverse base of state and federal agencies in the United States that help clients achieve their mission, enhance business performance, reduce costs, and improve the health of individuals and communities. Headquartered in McLean, VA, CNSI’s global workforce includes 1,200 employees, including a world-class team of technologists, program managers, and subject matter experts with large-scale, mission-critical information technology implementation experience.

About Kepro

Founded in 1985 by physicians, Kepro provides technology-enabled services for priority populations to help them remain in the home or community of their choice. Kepro partners with government and private healthcare payers to maximize healthcare quality, improve accuracy, and increase efficiency. The company’s three core solution lines, care management, quality oversight, and assessments and clinical eligibility, ensure that clients’ beneficiaries receive the right care delivered in the right place at the right time. Kepro’s workforce numbers over 1,700 employees, including 600 full-time clinicians, across 17 U.S.-based offices, as well as a network of 4,500 physicians and 450 clinicians who serve on their advisory and review panels.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $369 billion of assets under management as of September 30, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,100 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

About Apax

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.

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CNSI and Kepro Announce Merger to Create Leading Healthcare Solutions Company

Apax

Combined company to drive improvements in health outcomes through technology enablement, data analytics, and clinical expertise

McLean, VA, and Nashville, TN, November 9, 2022 – CNSI, a leading provider of innovative healthcare technology products and solutions, and Kepro, a leading provider of technology-enabled care management, quality oversight, and clinical assessment services announced an agreement to merge. The combined company will help government-sponsored healthcare agencies and payers expand healthcare access, enhance quality, improve health outcomes, and lower costs through its clinical services, provider management, health claims and encounter processing, interoperability, and health analytics services and solutions. CNSI is backed by funds advised by global investment firm Carlyle (NASDAQ: CG), and Kepro is a portfolio company of funds advised by Apax Partners LLP (“Apax Funds”), which will be exiting its investment through this transaction.

Todd Stottlemyer, CNSI’s CEO, will lead the new company. Susan Weaver, MD, Kepro’s President and CEO, will become President. Both leaders will sit on the company’s board of directors.

“The combination of CNSI and Kepro aligns with the strategic objectives of both companies to deploy technology-enabled products, solutions, and services that help our clients achieve their mission and better serve their priority populations,” said Stottlemyer. He added: “I am excited about our ability to provide a full array of services and solutions that will help our clients meet the holistic health needs of those they serve.”

“Healthcare is changing rapidly, and we believe the combination of our capabilities will help our clients meet and adapt to these changes,” said Dr. Weaver. “Kepro gains a partner with extensive large-scale, systems implementation experience, and CNSI gains a partner with deep clinical expertise. Together our employees will also benefit with new opportunities to diversify their skillsets and advance their careers,” Weaver added.

Dayne Baird, CNSI Board Member and Managing Director at Carlyle, said: “We are incredibly excited by the combination of these two highly differentiated businesses and the opportunity to partner with Todd, Susan, and their talented leadership teams. The combination brings CNSI’s leading health technology capabilities together with Kepro’s clinical expertise and unique service offerings, allowing the company to better serve its clients and improve care quality and health outcomes.”

Andrew Cavanna, Kepro Board Member and Partner at Apax, said: “We are proud to have supported Kepro in its evolution over the past five years. Through the leadership of Susan and her management team, the business grew its capabilities and the value it delivers to its customers. We wish the combined company every success in the future.”

CNSI is headquartered in McLean, VA, and Kepro is headquartered in Nashville, TN. Both locations will be maintained. The newly merged company will rebrand in early 2023.

The new company is backed by Carlyle (NASDAQ: CG), a global investment firm. Latham & Watkins LLP acted as legal advisor to CNSI and Carlyle. Centerview Partners acted as an investment advisor to Kepro and Apax, and Kirkland & Ellis served as legal advisor to both Kepro and Apax. The transaction is expected to close in December 2022, subject to customary closing conditions.

 

About CNSI

CNSI delivers a broad range of health information technology enterprise solutions and products to a diverse base of state and federal agencies in the United States that help clients achieve their mission, enhance business performance, reduce costs, and improve the health of individuals and communities. Headquartered in McLean, VA, CNSI’s global workforce includes 1,200 employees, including a world-class team of technologists, program managers, and subject matter experts with large-scale, mission-critical information technology implementation experience.

About Kepro

Founded in 1985 by physicians, Kepro provides technology-enabled services for priority populations to help them remain in the home or community of their choice. Kepro partners with government and private healthcare payers to maximize healthcare quality, improve accuracy, and increase efficiency. The company’s three core solution lines, care management, quality oversight, and assessments and clinical eligibility, ensure that clients’ beneficiaries receive the right care delivered in the right place at the right time. Kepro’s workforce numbers over 1,700 employees, including 600 full-time clinicians, across 17 U.S.-based offices, as well as a network of 4,500 physicians and 450 clinicians who serve on their advisory and review panels.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $369 billion of assets under management as of September 30, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,100 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

About Apax

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.

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EQT strengthens and diversifies its management team with key leadership appointments

eqt

EQT AB (EQT) today announced three key additions to its Executive Committee (ExCom).

Suzanne Donohoe joins as Chief Commercial Officer (“CXO”) and will lead a newly-formed platform to drive EQT’s external commercial activities. She joins EQT most recently from KKR where she was a Partner & Global Head of Strategic Growth. Donohoe also built and led the Client & Partner Group for over a decade and served as Co-head of the Inclusion & Diversity Council. Her prior experience includes an extensive global career at Goldman Sachs. Altogether, Donohoe brings thirty years of experience to her new role, where she will be responsible for the firm’s external commercial activities (outside of its investment strategies). In addition to Capital Raising & Client Relations, the new Platform “EQT-Ext” includes the firm’s Sustainability, Business Development, and Communications efforts. Donohoe will start in January 2023.

Ricardo Reyes will oversee Global Communications & External Affairs after recently joining EQT full-time. He brings significant experience from his roles positioning Tesla, YouTube and most recently Dyson, where he was the Chief Communications Officer. In addition to his work in Silicon Valley, Reyes started his career in Washington DC, working at the White House and on policy initiatives. Born in Managua, Nicaragua, his diverse experience will be instrumental to ensure that the EQT brand supports the business and addresses an ever-expanding global audience.

EQT also announces the elevation to ExCom of Gustav Segerberg, an accomplished leader at EQT with responsibility for the firm’s Business Development efforts. Segerberg joined EQT in 2016 as part of the Capital Raising & Client Relations team after a decade as an investment banker. He became Head of Business Development in 2018. Segerberg has played a crucial role in the strategic development of EQT in recent years, including executing EQT’s IPO in 2019, and driving the combinations with BPEA, Exeter and LSP, as well as new product development.

“The newest members of EQT’s Executive Committee will equip EQT with an unmatched set of competencies, backgrounds, and perspectives to continue serving our global clients and partners,” said Christian Sinding, CEO & Managing Partner at EQT. “Suzanne joins us at a unique point in time with EQT having become a truly global firm, and she brings a broad range of leadership experiences to our team. I am very pleased that Ricardo has taken on the role of globalizing EQT’s brand and communications; and with the internal promotion of Gustav to the ExCom we are securing our continued development through M&A and new initiatives.”

The changes follow a decision on the part of Morten Hummelmose, who joined EQT in 2006, to step down. He served in a variety of roles over his tenure and most recently led the firm’s capital raising efforts. Hummelmose will remain a member of the EQT Foundation and be part of its Investment Committee.

“I extend my warmest gratitude to Morten for his significant contributions to EQT over many years, most recently as Head of CR,”  said Sinding.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

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 almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. EQT today has EUR 114 billion in 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 24 countries across Europe, Asia and the Americas and has more than 1,750 employees.

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

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KKR to Invest $400 Million in Decarbonization Platform Serentica Renewables

KKR

November 8, 2022

  • Serentica seeks to enable the energy transition for energy-intensive, hard-to-abate industrial sectors by providing complex clean energy solutions
  • Transaction is among the largest industrial decarbonization investments in India to date

NEW DELHI–(BUSINESS WIRE)– KKR, a leading global investment firm, and Serentica Renewables (“Serentica” or the “Company”), a decarbonization platform that seeks to enable the energy transition by providing complex clean energy solutions for energy-intensive, hard-to-abate industries, today announced the signing of definitive agreements under which KKR will invest $400 million in the Company.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221107006199/en/

Serentica looks to deliver round-the-clock clean energy solutions for large-scale, energy-intensive industrial customers. This includes providing renewable energy solutions through long-term Power Purchase Agreements (“PPAs”) and working closely with customers to design their paths to net-zero electricity. Currently, the Company has entered into three long-term PPAs and is in the process of developing ~1,500 MW of solar and wind power projects across various states including Karnataka, Rajasthan, and Maharashtra. Serentica’s medium term goal is to install 5,000 MW of carbon-free generation capacity coupled with different storage technologies and supply over 16 billion units of clean energy annually and displace 20 million tonnes of CO2 emissions.

Serentica’s launch builds on the favorable macroeconomic tailwinds behind India’s power and renewables sectors, as well as the government’s strong commitment to advancing India’s energy transition. In addition, Serentica looks to provide clean energy alternatives to the critical but hard-to-abate industrial sectors that continue to drive India’s development and economic growth. As energy demands continue to rise alongside India’s developmental needs and prosperity, there is significant potential for renewable energy to play an important role in meeting the energy needs of the industrial sector in a sustainable manner.

Pratik Agarwal, Director of Serentica Renewables, said, “We are happy to have a like-minded strategic partner in KKR who believes in our model of sustainable development. The world is undergoing a clean energy transition and India is at the forefront of this effort with its ambitious target of 450GW by the year 2030. This investment will allow us to leap ahead in our vision of decarbonizing large energy intensive industries and help in reversing climate change. This transaction is amongst the largest industrial decarbonization investments in India to date and carries forward the global decarbonization agenda which is centre stage at COP27 (2022 United Nations Climate Change Conference).”

Hardik Shah, Partner at KKR, said, “Our investment in Serentica reflects KKR’s confidence in India’s renewables sector and our commitment to advancing the energy transition in India. Energy-intensive, heavy-industry companies play an important role in society but have traditionally faced more challenges in meeting energy needs sustainably. With Serentica, we look to support these companies in their decarbonization objectives. We are delighted to back Serentica through this latest strategic partnership and are excited to develop Serentica into a leading decabonization platform that can contribute meaningfully to the energy transition requirements that lie ahead of us.”

Standard Chartered Bank acted as the sole financial advisor to Serentica for this transaction.

KKR makes its investment from its Asia Pacific Infrastructure strategy. The transaction in Serentica marks KKR’s latest investment in India and the renewables sector. Since 2011, KKR has deployed over $15 billion in equity globally to invest in renewable assets, such as solar and wind, which have an operational power generation capacity of 23 GW, as of December 31, 2021. In Asia Pacific, KKR sees renewables as core to its infrastructure strategy and seeks to invest behind the significant opportunities across the region.

About Serentica Renewables

Established in 2022, Serentica Renewables is 100% held by Twinstar Overseas Limited (“TSOL”) which also owns controlling stakes in Sterlite Power Transmission Limited & Sterlite Technologies Ltd. Serentica Renewables looks to provide round-the-clock clean energy solutions enabling the transition of large-scale, energy-intensive industries to clean energy. The company is focused on industrial decarbonization, by making renewables the primary source of energy for the commercial & industrial segment which consumes more than 50% of the electricity generated in India. Serentica aims to provide assured renewable energy through a combination of solar, wind, energy storage and balancing solutions.

For more details on Serentica, please visit www.serenticaglobal.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 and on Twitter @KKR_Co.

Media enquiries:
For Serentica Renewables:
Ajay Padamanabhan
+91 90112 38700
contact@serenticaglobal.com

For KKR:
Wei Jun Ong
+ 65 9139 5813
WeiJun.Ong@kkr.com

Source: KKR

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Sun Capital affiliate sells Allied Glass

Sun Capital
  • Leading manufacturer of glass packaging containers for the premium food and drinks market sold to Verallia Group
  • First Fund VII exit

BOCA RATON, Fla. – November 8, 2022 – Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm focused on defensible businesses in growing markets with tangible performance improvement opportunities, today announced that an affiliate has sold Allied Glass (“the Company” or “Allied”) to Verallia Group (“Verallia”) (ENXTPA: VRLA), the third largest producer of glass packaging for beverages and food products globally, headquartered in France, for a total enterprise value of £315 million. The sale of Allied marks the first Fund VII exit. Sun Capital was advised by its European affiliate, Sun European Partners, LLP, in connection with this transaction.

Established in 1874 and headquartered in Leeds, UK, Allied is the leading UK-based manufacturer of glass packaging containers for the premium spirits, food and drinks markets. It specializes in shorter production runs for bespoke premium bottles which are manufactured to order.

“Allied is an outstanding business with an exceptional management team. Since 2019, we have worked with management to execute on several operational improvement opportunities, including ESG-friendly product innovation, SKU reporting and a significant CapEx program enhancing plant utilization,” said Paul Daccus, Managing Director of Sun European Partners. “Our work with Allied Glass underlines Sun Capital’s commitment to partnering with outstanding management teams to drive value creation. This sale has allowed us to achieve a very successful outcome for the Company and our investors, and we’re confident that Allied Glass will continue to go from strength to strength as part of Verallia, a global leader in glass manufacturing.”

Since an affiliate of Sun Capital acquired Allied in December 2019, value creation was accelerated through product innovation, and increasing recycled content in glass production, bolstering the ESG profile. The Company also introduced activity-based, product level costing platforms to enhance commercial and operational decision making and cost savings. Furthermore, a capex program for a new facility increased capacity and manufacturing efficiency. Each of these initiatives expanded the company’s market share and profitability, growing EBITDA significantly.

“Our partnership with the Sun European team has been a great success and today Allied Glass is a market leader in its field, with impressive technical capability and a flexible, customer-focused approach,” said Alan Henderson, CEO of Allied Glass. “Our shared values and focus on delivering a customer-first strategy, combined with Sun European’s operational knowledge and deep manufacturing expertise, have allowed us to transform and grow the business over the last 2-3 years and create further value through innovation and internal development.”

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Lumanity Expands U.S. Life Sciences Consulting Capability with the Acquisition of Clarion

Arsenal Capital Partners

Enhanced strategic consulting capabilities supporting products throughout their lifecycles

November 8, 2022

New York, NY- Lumanity, a global leader in accelerating and optimizing access to medical advances, announced the acquisition of Clarion Healthcare (“Clarion”), a Boston-based life science consultancy with a 20-year history of being a trusted advisor for biopharma clients in solving their most complex commercialization and product lifecycle challenges, from Svoboda Capital Partners. Lumanity is a portfolio company of the private equity firm, Arsenal Capital Partners. The terms of the acquisition were not disclosed.

The addition of Clarion strengthens Lumanity’s global consulting practice, bringing significant scale in the U.S. and complementing Lumanity’s existing experts in both the U.S. and Europe. Clarion and Lumanity’s combined capabilities create a global leader in the development and execution of successful commercialization strategies for biopharma companies’ increasingly complex asset portfolios.

Clarion’s deep scientific and commercial expertise throughout the product lifecycle and in nearly all therapeutic categories has allowed it to partner effectively with clients to tackle mission-critical strategic challenges at the asset, portfolio, and enterprise level. More specifically, Clarion works with clients to:

  • Evaluate the potential for early-stage assets and portfolios, especially in markets undergoing disruption,
  • Shape products and markets to enable successful product introduction, and,
  • Evolve functional and organizational capabilities to address the rapidly changing requirements for new product commercialization and value demonstration.

Jon Williams, the CEO of Lumanity, said, “Clarion is an exceptional addition to Lumanity. Clarion’s impressive team, specialized capabilities, and strong client relationships, significantly strengthen our ability to support the commercialization of our clients’ assets, ensuring patients get access to the right treatments.”

“We look forward to joining forces with Lumanity on our next chapter of growth,” stated Tom Murtagh, Co-founder of Clarion. “We believe Lumanity shares a similar mission-oriented culture and commitment to its clients and its employees. Together, we are eager to disrupt standard thinking regarding commercialization choices and build a more sustainable model to deliver true innovation to the healthcare ecosystem.”

Lumanity was formed by bringing together the expertise and capabilities of several exceptional organizations, including Cello Health, BresMed, Guidemark Health, Cyan Health, Zipher Medical Affairs, Innovative Edge, and Endpoint Outcomes. The addition of Clarion further enhances Lumanity’s unique and diverse collection of deeply experienced industry pioneers, data luminaries, subject matter experts, and proven problem solvers with advanced clinical, scientific, and functional capabilities.

SVB Securities served as a financial advisor to Lumanity in the transaction.

About Lumanity

Lumanity applies incisive thinking and decisive action to cut through complex situations and deliver transformative outcomes to accelerate and optimize access to medical advances. By transforming data and information into real-world insights and evidence, Lumanity powers successful commercialization and empower patients, providers, payers, and regulators to take timely and decisive action. With offices in North America, the United Kingdom, Europe, and Asia, and work conducted in over 50 countries, its 1,200+ experts work with nearly all the top pharmaceutical and more than 100 biotech companies around the world. Turning aspiration into reality, Lumanity supports over 50 payer submissions across 20+ countries, launch readiness and commercialization of 80 brands and new indications, and numerous award-winning product campaigns every year. For more information, please visit lumanity.com and connect with Lumanity on Twitter and LinkedIn

About Clarion

Clarion is a life sciences strategy and organizational consultancy that works together with its clients to envision, craft, and enable growth through scientific and commercial innovation and leadership. Across therapeutic categories, Clarion collaborates deeply with its clients to tackle their most complex cross-functional business challenges and decisions throughout the product and company lifecycle. From start-up to global multinational companies, Clarion helps assemble and deliver on inspired strategies that require creativity, insight, and collaboration. Clarion builds leaders in the life sciences. Based in Boston, Massachusetts, Clarion was founded in 2003. For more information, visit www.clarionhealthcare.com and follow us on Instagram and LinkedIn.

About Svoboda Capital Partners

Svoboda Capital Partners is a Chicago-based private equity firm with over $400 million of capital under management. Founded in 1998, Svoboda identifies, invests in, and helps build excellent businesses in its targeted business niches of business services and value-added distribution. The firm typically makes investments of $10 to $20 million per company in partnership with management teams.

CONTACT for Lumanity:
Peter Marangos
+1 702 776 0985 / peter.marangos@lumanity.com

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Acquisition of Control Mechatronics expands E.GRUPPE’s product range and continues its growth trajectory

GIMV

07/11/2022 – 08:30 | Portfolio

Gimv portfolio company E.GRUPPE, which already includes Klotter Elektrotechnik GmbH, has acquired Control Mechatronics GmbH in Nidderau near Frankfurt/Rhein-Main, Germany. This acquisition will allow E.GRUPPE to expand its product range in industrial electrical process measurement and control technology as well as in project planning and engineering of industrial process automation. Control Mechatronics’ shareholders and founders Michael Kopf, Peter Gareis, Roland Lauk and Axel Hoch will become shareholder of E.GRUPPE as part of the transaction. In addition, Michael Kopf and Axel Hoch will support the group on its growth journey in a consultative role. 

E.GRUPPE’s goal is to become a full-service provider in all electrical engineering fields in order to offer customers a holistic and future-oriented solutions portfolio from a single source. In 2021, the European investment company Gimv took a majority stake in Klotter Elektrotechnik GmbH, which was established in 1997 (www.klotter.de). E.GRUPPE emerged from this partnership  with entrepreneur and founder Werner Klotter. In addition to the existing business in the area of production of customized transformer stations, electrical distribution and control boards, as well as building technology, Control Mechatronics is particularly strengthening the area of automation solutions for industrial processes, including automation projects for safety-relevant and certificate-related automation services, such as those used in nuclear power plants or for the production of control units in the medical field of proton therapy. Control Mechatronics is present at three sites: its main location in Nidderau and branches in Lörrach and Ravensburg.

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Eurazeo announces sale of majority ownership position in Nest New York to North Castle Partners led investor group

Eurazeo

Eurazeo, a leading global investment company with a diversified portfolio of €32.5 billion in assets under management, today announced that it has reached an agreement to sell its majority ownership position in NEST New York (“NEST” or the “Company”), a leading fragrance lifestyle brand, in a transaction that values NEST at approximately $200 million. Under the terms of the transaction, an investor group led by North Castle Partners (“North Castle”), a consumer-focused private equity firm, will purchase a majority stake in NEST, with Eurazeo and NEST Founder Laura Slatkin retaining minority ownership positions. Following the close of this transaction, Eurazeo’s invested equity capital will yield a return of approximately 2.7x.

Eurazeo’s Brands Division launched in May 2017 and NEST was its debut investment. Under Eurazeo’s management, NEST’s leadership team accelerated product innovation, expanded brand awareness and significantly increased the brand’s digital penetration. As a result, overall brand sales tripled, direct-to-consumer sales increased 10-fold and EBITDA margins significantly expanded. NEST is the leading luxury home fragrance brand in the U.S., a top 10 women’s fine fragrance brand at Sephora and continues to be recognized for its innovation, having won two 2022 Allure Best of Beauty awards and having been named “Best New Beauty Brand” in the U.K. by The Fragrance Foundation.

Laura Slatkin, Founder of NEST New York, said:

“Since I founded NEST in 2008, I have been fortunate to have exceptional partners that have helped the brand solidify its position as one of the world’s most trusted and highly regarded fragrance brands. I am deeply grateful for Eurazeo’s partnership and expertise, which have enabled the business to flourish and deliver impressive growth over the past five years. As the brand embarks on its next chapter of growth, I look forward to partnering with North Castle and reuniting with Rich Gersten, whom I have had the pleasure of working with in the past.”

Maria Dempsey, CEO of NEST New York, said:

“NEST New York is a beloved fragrance lifestyle brand that has seen explosive growth over the past several years due to a laser-focus on product innovation, new customer acquisition, digital expansion and creative storytelling. This significant growth has been achieved with our exceptional team of professionals, strong retailer partnerships and a highly collaborative relationship with Eurazeo. We are thrilled to be working alongside the North Castle team on this next phase of growth.”

Jill Granoff, Managing Partner of Eurazeo and CEO of Eurazeo’s Brands Division, said:

“Laura, Maria and the NEST team have been exemplary partners, and together, we have built the NEST brand and driven tremendous value creation. We look forward to working with North Castle Partners on the next chapter of NEST’s growth to leverage the Company’s strong foundation and expand the business globally.”

Hemanshu Patel, Partner at North Castle Partners, noted:

“We’re very excited to partner with Eurazeo and the management team at NEST and welcome the Company into North Castle’s family of health and wellness focused brands that are leaders in their respective categories. It’s an ideal situation for us with Rich Gersten, Beauty Industry Advisor at North Castle Partners, having worked with Laura and NEST in the past.”

Rich Gersten added:

“I have always been a huge fan of the brand and its potential, and it is exciting to partner with NEST once again at this inflection point to expand the brand’s reach across categories and geographies.”

NEST represents North Castle’s second beauty and personal care investment in the last two years. North Castle has spent more than two decades partnering with entrepreneurs and management teams to scale brands and unlock the full potential of companies in the Healthy, Active and Sustainable Living sector.

The transaction is expected to close at the end of November. Perella Weinberg Partners LP acted as financial advisor to NEST.

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