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£1.1mn follow-on investment in legaltech leader Legatics as part of £4mn round

Gresham House

Gresham House Ventures makes £1.1mn follow-on investment in legaltech leader Legatics as part of £4mn investment round led by FINTOP Capital.

Designed by lawyers seeking to streamline the sector’s legacy working methods, Legatics enables deal teams to collaborate on and close deals in an interactive online environment.

Since its launch in 2015, the platform has been adopted by many of the world’s top global law firms, including Allen & Overy, Dentons and Shearman & Sterling, and has been deployed in more than 60 countries.

The Gresham House Ventures team initially invested £3 million in Legatics in 2021, investing on behalf of the Mobeus VCTs, which supported the business’ rapid expansion and the development of Legatics 2, a second-generation platform which will incorporate enhanced AI functionality. This additional investment will be used to bring new features and functionality to Legatics 2, and accelerate expansion plans for the US market, where the legal sector has not yet adopted digitisation to its full potential.

The deal was led by Joe Krancki and Mark Stroud, with Stroud also joining Legatics’ board, where he brings valuable experience working with legaltech businesses, as part of the investment. The investment came as part of a £4 million fundraising round led by legal tech specialist FINTOP Capital. Gresham House was advised by Marriott Harrison on the transaction.

The investment continues a busy period of dealmaking for Gresham House Ventures, which closed a £3.1 million investment into digital health platform provider Mable Therapy earlier in August.

This followed a £3.5 million investment into Dayrize, a £4.65 million investment into Connect Earth, a £4 million investment into Cognassist, and a further investment into eating disorder clinic, Orri.

Joe Krancki, Investment Director at Gresham House Ventures says:

“The Legatics team has revolutionised the sector, removing legacy hurdles to help countless leading law firms and professionals quickly adapt to the changing demands of the legal market. With the rollout of Legatics 2 further cementing its position as the go-to legaltech vendor in the UK, we are pleased to be providing additional investment at this exciting time. We have been impressed with Legatics’ continued growth in recent years, and we look forward to working closely with the business over the coming years to support its ongoing expansion into the US market.”

Anthony Seale, CEO at Legatics says:

“The Gresham House Ventures team’s previous investment in Legatics has played a significant role in supporting our recent growth, enabling the business to more than double its customer base in two years and accelerate its product offering with the launch of Legatics 2. This follow-on investment validates the significant opportunity to embed our platform into the US legal market – one that is crying out for streamlined solutions like Legatics to modernise legal transactions.”

 

 

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DIF’s portfolio company ruhrfibre signs EUR 120m senior debt financing

DIF

DIF Capital Partners (via its DIF CIF III fund) is pleased to announce that its portfolio company ruhrfibre has closed on a senior debt financing in support of the buildout of a large-scale fibre network in Essen (Germany), targeting around 150,000 households.

DIF announced its investment in ruhrfibre in November 2022, alongside project developer metrofibre and the City of Essen. The project is a game changer to the city in the industrial Ruhr-area in terms of its economic advancement and will accelerate Essen’s development into a smart city.

The financing package comprises senior loans totalling EUR 120m that are provided by a club of senior lenders comprising ING, Kommunalkredit Austria and SEB. There is a further uncommitted accordion facility of EUR 40m to expand the financing. The facilities are structured as a green loan with a dedicated green use of proceed for the financing of climate friendly broadband technology, and as such underpin DIF’s strong commitment to promote sustainable infrastructure.

The successful financing provides further momentum to ruhrfibre’s significant progress in bringing fibre to Essen: In June, ruhrfibre started the construction work in the first two roll-out areas in Essen. “With full financing, the project is now significantly picking up speed”, says Christopher Rautenberg, Managing Director at metrofibre and ruhrfibre. “New roll-out areas will follow in the next few months to meet our goal of connecting 150,000 households, businesses, and public institutions to the fiber-optic network.”  DIF and ruhrfibre were advised by ING, Hogan Lovells, Arthur D. Little and Riskbridge. The lenders were advised by White & Case.

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with ca. EUR 17 billion of AUM. DIF was founded in 2005 and has built a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds invest in lower risk mid-sized infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as PPPs and concessions. The firm’s CIF funds invest in small to mid-sized companies that will thrive in the new economy. These companies are typically active in the digital, energy transition and sustainable transportation sector.

With a team of over 225 professionals in 11 offices, DIF Capital Partners offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

For more information, please visit www.dif.eu

Contact DIF Capital Partners: press@dif.eu

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Bergman Clinics opens a new clinic in Rijswijk with a focus on eye care

NPM Capital

Bergman Clinics has opened a new focus clinic in Rijswijk. The new location offers the best possible eye care as a result of our ultimately modern complex with advanced equipment and facilities. The care provided here can be fully reimbursed by your health insurer, providing this is medically indicated and following a referral by your GP.

The opening of this modern, state-of-the-art location has enabled Bergman Clinics to respond to a growing demand for top quality, client-focussed treatments for plannable medical care. The specialisation Bergman Clinics is known for allows for very efficient working methods. This subsequently reduces access times and means more clients can be seen at an earlier stage.

The new location offers specialist treatments for a variety of eye diseases and conditions, including cataracts, glaucoma and macular degeneration. Clients can rely on a multidisciplinary approach, whereby experienced ophthalmologists work together with optometrists to realise the best possible care results. Cataract surgery is by far the most common procedure. Bergman Clinics | Rijswijk is expected to be able to help around 4000 clients get rid of their cataract problems every year.

The focus clinic has a brand new class 2 operating room at its disposal, especially designed for ophthalmic operations. The clinic also boasts twelve optimally equipped consulting rooms, allowing us to assist a large number of clients.

Dr Flora Berkhout is an Ophthalmologist at Bergman Clinics. She is very enthusiastic about the new focus clinic: “It’s hugely beneficial to form part of such a large ophthalmic organisation. We have gained an incredible amount of experience with eye care and how to organise this as optimally as possible in our other Bergman Clinics locations. I have personally worked at several Bergman Clinics locations: Ede, Den Bosch and Amsterdam. We can individually adopt each and every one of these best practices. Plus it’s certainly also going to be a very nice location. Fantastic for both our clients and our employees. Setting up this focus clinic together with the team is going to be a very exciting challenge to rise to!” according to Dr Berkhout.

Expansion of several care programmes later on this year
The new focus clinic will also be introducing other specialisms later on this year, in addition to ophthalmic care, including Skin & Vessels (dermatology & proctology), Woman (gynaecology) and ENT (ear, nose and throat). This will allow Bergman Clinics to offer an extensive care programme, making sure clients in Rijswijk and the surrounding area have access to top quality medical treatments in a variety of different areas.

 

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Change in CapMan’s Management Group

Capman

CapMan Stock Exchange Release / Change in Management
11 August 2023 at 8.00 a.m.

Change in CapMan’s Management Group

Johan Pålsson has resigned from his position as Managing Partner of CapMan Buyout and steps down from CapMan Plc’s Management Group effective immediately. He continues in his current role in CapMan Buyout until 10 February 2024 in order to facilitate a smooth transition for the team. The Buyout team includes four equal Partners and is as such well-resourced to continue to execute value creation for the funds under management. For the time being, Pålsson’s responsibilities will be divided among the Buyout Partners.

“I warmly thank Johan for his contributions to CapMan Buyout over the past seven years, of which he has served six as Co-Managing Partner. He has been instrumental in building a cross-Nordic team with diverse capabilities and a strong presence in Sweden. He is a formidable colleague and will be missed in the team,” says Pia Kåll, CapMan’s CEO.

“I am thankful for my time at CapMan and proud of our achievements over the years. During my time as Co-Managing Partner, we have made eight new investments and 15 exits, and the portfolio companies of our latest Buyout XI fund are performing very well. I wish the team an equally prosperous future,” says Johan Pålsson, Managing Partner at CapMan Buyout.

CAPMAN PLC
Investor Relations

Distribution:
Nasdaq Helsinki Ltd
Principal media
www.capman.com

Contact details:
Pia Kåll, CEO, CapMan Plc, tel. +358 40 7664446

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. €5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London, Luxembourg and Jyväskylä. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.

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IBM Completes Acquisition of Apptio Inc.

Vista Equity

With close of transaction, immediate synergies to be driven with IBM’s IT Automation Portfolio

ARMONK, N.Y., Aug. 10, 2023 /PRNewswire/ — IBM (NYSE: IBM) today announced it has completed its acquisition of Apptio Inc. after receiving all required regulatory approvals. The acquisition gives clients the ability to derive additional value through the powerful combination of Apptio and IBM.

IBM Apptio
IBM Apptio

Technology is a competitive differentiator for today’s enterprises. Organizations are accelerating their IT investments, spreading workloads and applications across public and private clouds, using multiple service providers. As a result, their expenses are increasing, and they need simplified, integrated, and automated solutions to optimize their IT spend, improve operations, and drive greater financial returns.

 

Today’s close brings together the industry-leading solutions of Apptio’s FinOps offerings, including ApptioOne, Cloudability and Targetprocess, and IBM’s automation portfolio of Turbonomic, AIOps and Instana to give clients a “virtual command center” for managing, optimizing and automating technology spending decisions.

With AI and foundation models top of mind for clients and partners, IBM will also augment its watsonx AI and data platform with Apptio’s $450 billion in anonymized IT spend data, unlocking new innovation, insight and value.

“The combination of Apptio products and IBM’s IT automation portfolio will give businesses a 360-degree technology management platform they can use to optimize and automate decisions across their IT landscapes,” said Rob Thomas, Senior Vice President, Software and Chief Commercial Officer, IBM. “We are bringing together market-leading and best-in-class solutions to continue to reshape IT from a cost center to a true competitive advantage, powered by automation and AI.”

Starting immediately, clients can leverage the early integration between Apptio and IBM through their Cloudability and Turbonomic offerings. This is an important first step as IBM looks to drive significant synergy across several key growth areas, including automation, Red Hat, IBM Consulting, and IBM’s broader AI portfolio.

Cloudability gives organizations the data, insights and recommendations needed to understand and eliminate waste from their cloud spend, while Turbonomic generates trustworthy optimization decisions that can be automated to unlock true cloud elasticity, getting rid of overprovisioning to protect performance. Together, these products can give clients full coverage for the “Inform,” “Optimize” and “Operate” stages of the FinOps Framework, providing what they need to control cloud spend without slowing innovation or negatively impacting operational performance.

Cloudability can ingest Turbonomic executed and proposed actions to provide a shared, single view across services that helps stakeholders understand the impact that has been, and can be, achieved by bringing these two leading IT automation offerings together.

Clients are already seeing the benefits of these solutions. With Cloudability, organizations can reduce cloud costs by 30% or more1 while allocating 100% of cloud program costs2 and increasing reservation coverage to over 90%3. With Turbonomic, they can improve cloud investments by 33% and get 30% of engineering time back.4

The close of the Apptio acquisition is one of a series of investments in IT Automation by IBM over the last three years to help solve the problems facing today’s IT and business leaders. In 2020, IBM launched its IT Automation portfolio when it announced its AIOps offerings that used AI and automation to help enterprises self-detect, diagnose and respond to IT anomalies in real time. Later that year, IBM acquired Instana, recognizing that modern applications and operations required real-time observability. Then, in 2021, IBM acquired Turbonomic which has specialized in helping clients optimize for application performance at the lowest cost with automation. Now, with the acquisition of Apptio, IBM will provide real-time data and actionable insights for leaders to make smarter spending decisions and realize value faster as they transform their operations.

Apptio is an established, growing, and profitable technology business management and FinOps leader with over 1,500 clients, serving more than half of the Fortune 100.

IBM previously announced a definitive agreement to acquire Apptio from Vista Equity Partners on June 26, 2023.

“Our journey with Apptio is a testament to Vista’s ability to create consistent outcomes that drive value for our stakeholders,” said Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners. “We are proud of our continued momentum, even amidst these challenged market conditions, and look forward to seeing how Apptio’s technology will bolster IBM’s IT automation and AI capabilities in the years ahead. It’s been an honor to partner with a visionary founder like Sunny and we wish the entire Apptio team the best in the next phase of their growth with IBM.”

About IBM
IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.

Press Contact:

Tim Davidson, 914-844-7847
tfdavids@us.ibm.com

1 https://www.apptio.com/case-study/the-national-rural-electric-cooperative-association-reduces-infrastructure-costs-by-30/
2 https://www.apptio.com/case-study/unlocking-the-business-value-of-it-transformation-with-coles-and-cloudability/
3 https://www.apptio.com/case-study/how-koch-business-solutions-became-finops-center-enterprise/
4 https://www.ibm.com/downloads/cas/JEWOV1BM

SOURCE IBM

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Nordic Capital-backed EDG embarks on transformative step via the separation and sale of its European laboratory business

Nordic Capital

European Dental Group (“EDG” or the “Company”), a leading pan-European oral care services platform, has announced a significant, transformative milestone on its journey. After rapidly growing its European clinics platform while in parallel establishing a European laboratory business, the Company has decided to separate and sell its laboratory activities (including Excent, Flemming, Artinorway Group), which will be acquired by Oakley Capital (“Oakley”) in the Transaction.

“Under EDG stewardship, we’ve built one of the leading dental laboratory players in Europe,” said Toby Anderson, CEO of EDG.

“Following an internal strategic review, we identified considerable benefits of separating our clinic and dental laboratory activities and believe that the separation will optimise the future growth of both.”

This strategic decision allows EDG to solely focus its resources on continuing the rapid development of its leading oral care clinic networks in the Netherlands, Germany, the UK, France, Switzerland, and Belgium. Its commitment to providing best-in-class oral care to patients and being the preferred partner for clinicians and staff remains at the centre of EDG’s mission.

EDG’s dental clinics will maintain a close partnership with the departing dental laboratories, preserving an ongoing collaboration that has contributed significantly to joint success.

The transaction’s completion remains subject to regulatory approval.

For more information, please contact:
Christoph Mosebach
Deputy Head of BD and M&A
tel: +31 627845159
email: christoph.mosebach@europeandentalgroup.eu

About European Dental Group
Founded in 2018 by Nordic Capital via the acquisitions of Dental Clinics and TopOrtho in the Netherlands, Flemming dental labs and a small dental chain in Germany and Adent in Switzerland, the European Dental Group is a leading European dental care and services provider that relies on quality leadership, a strong team concept and well-established processes.

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Blackstone Closes Record Energy Transition Private Credit Fund at Over $7 Billion

Blackstone

Largest private credit energy transition fund ever raised1

NEW YORK – August 10, 2023 – Blackstone (NYSE: BX) today announced the final close of its energy transition credit fund, Blackstone Green Private Credit Fund III (BGREEN III). BGREEN III closed at its hard cap of $7.1 billion, representing the largest energy transition private credit fund ever raised.

Dwight Scott, Global Head of Blackstone Credit, said: “Blackstone has built a premier platform focused on private credit in the energy transition and infrastructure markets. We are grateful for the trust from our limited partners and look forward to investing in this favorable market environment.”

Robert Horn, Global Head of the Sustainable Resources Group for Blackstone Credit, said: “The energy transition is impacting large sectors of the economy and is resulting in a growing need for efficient private capital. We believe our experience and scale will enable Blackstone Credit to deliver flexible solutions to companies driving this historic transition and generate compelling returns for our investors.”

BGREEN III is managed by Blackstone Credit’s Sustainable Resources Platform, which focuses on providing private credit to the renewable energy, infrastructure, and energy transition marketplace. The Platform has approximately 40 investment professionals across North America, Europe, and Asia and invests across the credit spectrum in investment grade credit, non-investment grade credit, preferred and convertible securities. In 2022, Blackstone announced that it sees an opportunity to invest an estimated $100 billion in energy transition and climate change solutions projects over the next decade across its businesses.

Blackstone Credit
Blackstone Credit is one of the world’s largest credit-focused asset managers. Blackstone’s Credit and Insurance segment has $295 billion in AUM. Blackstone Credit seeks to generate attractive risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments.

1 Source: Preqin, Pitchbook, company websites, and publicly available information as of August 5, 2023. BGREEN III commitments included in this figure are as of August 8, 2023 to reflect final closing amount. Analysis based on universe of private credit funds closed since 2006 with fund sizes of $7B or greater.

Contacts
Kate Holderness
Kate.Holderness@Blackstone.com
646-482-8774

Mariel Seidman-Gati
Mariel.seidmangati@Blackstone.com
917-698-1674

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Pointsharp strengthens its presence in the German market by merging with SIVIS

Main Capital Partners

Pointsharp, backed by Main Capital Partners, today announces its third add-on acquisition of identity and role management specialist SIVIS, based in Germany and Denmark.

Pointsharp, backed by Main Capital Partners, today announces its third add-on acquisition of identity and role management specialist SIVIS, based in Germany and Denmark. Through this strategic merger, Sweden-based Pointsharp continuous its impressive growth journey as it bids to become the leading provider of European-made cybersecurity products, thus strengthening European data sovereignty.

Main first invested in Pointsharp in 2020 to support the company in its next phase of growth, with a keen focus on international expansion throughout Northwestern Europe.  In 2021, Swedish company Secmaker was added to the Pointsharp portfolio, which created a leading Nordic player within user authentication and access management. Further, in 2022, the acquisition of Cryptshare further strengthened Pointsharp’s position as a leading security software player in the European market, with complementary solutions for secure digital communication. Now, with the addition of SIVIS’ strong offering within Identity and role management, the Group is well equipped to compete with global competitors.

Developing a leading European IT security player

Pointsharp, founded in 2006, has grown from 10 FTEs in 2020 to an combined organization of +200 FTEs with local offices in Sweden, Germany, Denmark, Netherlands, Switzerland and Finland with pro-forma revenues in the region of EUR 28 million in 2022. Together the group services +2000 clients such as Akademiska Sjukhuset Uppsala, Atea, Friesland Campina, Webasto, ThyssenKrupp, Audi, Försäkringskassan, Region Blekinge, SICK, Karolinska Institutet, Deutsche Rentenversicherung Bund and Nottingham County Council.

The acquisition of SIVIS comes at a time where there is an increasing demand for one-stop-shop software that can support user’s digital life journey, with login & access management, secure communication, on-, off- and cross boarding, role management, maintaining user processes and compliance across organizations.

Niklas Brask, Managing Director at Pointsharp Group, commented: “Pointsharp is on a rapid and exciting journey to build a leading European IT security player. We offer a complete suite of security software solutions to help companies build a better, modern and more secure workplace. By partnering with SIVIS, we are extending our portfolio with a strong Identity Management for SAP and Microsoft environments as well as role management, compliance checks and pioneering AI products in enterprise security.”

Boris Grothues and Philipp Latini, co-CEO’s at SIVIS, added: “We are very proud of the success of SIVIS. Our expertise has positioned us as leaders in our field. The merger with Pointsharp, known for strong and secure authentication in complex enterprise landscapes and encryption solutions, is an exciting development. This strategic move will enable us to offer our customers enhanced security throughout the entire identity lifecycle. Furthermore, we anticipate this merger to unlock even greater potential and opportunities for growth. We look forward to this promising next step in our journey.”

Wessel Ploegmakers, Partner and co-Head of the Nordics office at Main, concluded: “This strategic combination with SIVIS symbolises another important step in Pointsharp’s growth journey as it seeks to become the leading European security player while also competing with the larger US vendors. Furthermore, the acquisition of SIVIS enables Pointsharp to solidify its presence in the strategically important growth market Germany. We are delighted with the improved international outlook for the group as it also simultaneously adds strong and complementary solutions to the already impressive service offering.”

This strategic combination with SIVIS symbolises another important step in Pointsharp’s growth journey as it seeks to become the leading European security player while also competing with the larger US vendors.

– Wessel Ploegmakers, Partner and co-Head of the Nordics office at Main

About

Pointsharp

Pointsharp was founded in 2006 and has since enabled organizations to secure their digital identities and logins by combining the ability to meet the highest security demands and today’s need for user friendly solutions. Pointsharp has a broad solution offering in the Identity and Access Management market related to multi-factor authentication, secure access, encryption, digital signature, user provisioning and password management. The company serves more than 3,000 enterprise organizations globally with high security or sensitive data needs in several different market verticals, including finance, governmental, and industrial.

SIVIS

SIVIS was founded in 1999 and focuses on IDM, risk management, compliance and authorizations with a focus on SAP and Microsoft environments. Using SIVIS’ solutions allows customers to organize and manage roles and identities within the SAP, Microsoft and nearby ecosystems from a single location in an automated and user-friendly manner. Headquartered in Karlsruhe, the company serves more than 250 loyal enterprise customers in several industries, engaging 64 employees. Some of the partners that SIVIS closely collaborates with are Mehrwerk, Voquz and Mindsquare.

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£3.1mn investment in leading digital health platform Mable Therapy

Gresham House

We are pleased to announce a £3.1 million investment into Mable Therapy, the UK’s leading digital health platform for children’s speech and language therapy and counselling services.

The business addresses a significant and growing area of need – 1.4mn children in the UK have long-term speech, language or communication needs and one in five children aged 5-16 have a diagnosed mental health problem.

Founded by Martha Currie and Elliot Agró in 2015, Mable provides easy access to a nationwide network of therapists who deliver live, 1-2-1 sessions through a bespoke online platform that facilitates improved therapeutic outcomes in a child-friendly environment.

Mable offers an affordable direct-to-consumer service, as well as solutions for the education and healthcare sectors, where technology adoption is now seen as vital to address the growing unmet demand.

In the last year alone, Mable has delivered over 22,000 hours of therapy to over 3,000 children.

As part of the investment, Gresham House Ventures has supported the appointment of Oli White as Mable’s CEO, bringing significant commercial expertise in the health and education technology sectors, most recently as Chief Commercial Officer at Doc Abode. Education business leader, Andrea Carr, will also join Mable as independent Chair.

The investment, led by Benjamin Faulkner and Tom Makey, follows several recent investments in the healthcare and education sectors.

In April 2023, Gresham House Ventures invested £4.0mn into neuro-inclusion solutions provider Cognassist, whose software platform supports individuals with hidden learning needs across education and the workplace. This followed a £4.5mn investment in September 2022 in Orri, a specialist clinic for the treatment of eating disorders. The investment in Mable represents the fourth new investment by Gresham House Ventures in 2023.

Mable Therapy was advised on the transaction by Zuleika Salter and James Balicki at finnCap Group.

Benjamin Faulkner, Associate Director at Gresham House Ventures said:

“Mable’s technology transforms the lives of children in their crucial early stages of development. There is significant growth potential for Mable within the wider education and health sectors where its technology offering can drive meaningful efficiencies for public service providers. Martha and Elliot have built an excellent business that is backed by a wealth of clinical and technological expertise, and we are confident that Mable can continue to revolutionise the provision of this vital support across the UK.”

Co-founders, Martha Currie and Elliot Agró said:

“Mable’s mission has always been to design therapy that puts children at its core, giving them the best chance to reach their full potential. Our pioneering technology has already helped thousands of families across the UK, and with this investment by Gresham House Ventures we can take this support even further. The investment will facilitate the development of an intra-therapy app designed to engage and empower children beyond session hours, and school screening tools to help educators in assessing students’ mental health and speech and language needs. We also look forward to welcoming to the team Oli and Andrea, whose expertise will be instrumental as we continue to enhance and expand our service beyond the UK.”

Oli White, Chief Executive said:

“This investment will enable us to extend our reach in the sectors where our technology is already helping schools and other care providers to support children facing complex challenges. With Gresham House Ventures’ outstanding track record of working with businesses in this sector, Mable is well-positioned to accelerate its growth trajectory in the coming years.”

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RFA secures €30m investment from KKR

KKR

KKR will become a leading investor in RFA alongside the existing strategic investor OHB

ž  New convertible debt investment comes after RFA’s successful completion of its upper stage hot fire test in May 2023, which was the first of its kind in Europe

ž  With the capital from KKR, RFA will bring its RFA ONE micro launcher to the launchpad at SaxaVord Spaceport in Scotland

ž  RFA offers cost-effective and flexible launch services to space as global demand for access to space rises

 

 

Augsburg, Germany –  August 7th 2023. Launch service provider Rocket Factory Augsburg AG (RFA) today announced that it has raised a €30 million investment from KKR, a leading global investment firm. The fresh funding is a vote of confidence for RFA as global demand for access to space continues to grow. The investment will facilitate RFA’s upcoming integrated first stage test and complete the company’s launch pad at SaxaVord Spaceport in Scotland, to eventually bring the RFA ONE microlauncher to the launchpad. The first flight is scheduled for Q2 2024. With its €30 million convertible bond investment, KKR will become a leading investor in RFA alongside the existing strategic investor OHB.

 

Stefan Tweraser, CEO at RFA: “We aim to provide cost-effective access to space and data-generating business models in space for monitoring, connecting, and protecting our planet. This new financing reflects confidence in RFA and validates our cost-efficient approach and technical achievements. Partnering with KKR as a long-term investor makes us proud – their financial resources, global network and industrial expertise will accelerate our mission, and support RFA towards our first launch next year and beyond.”

 

As global demand for cost-effective and flexible launch services to access space rises, RFA’s launch service offering is ideally positioned to benefit from this market opportunity. KKR’s investment follows the company’s successful completion of its upper stage hot fire test in May 2023, the first of its kind in Europe. This underlines investors’ trust in the business model of RFA, which prioritizes speedy and sustainable growth and maintains strong investment value for existing and new investors, and extends RFA’s technology and cost leadership.

 

Christian Ollig, Partner and Head of the DACH region at KKR: “KKR is excited to support RFA in its efforts to revolutionize access to space, which is crucial for emerging technologies that will shape our future. The team’s exceptional track record of achieving technical milestones and their unwavering focus on cost leadership are precisely the right strategy for future success in the global marketplace. We look forward to supporting RFA on its growth path.”

 

KKR’s investment comes from a holding company owned by its newest European private equity fund, KKR European Fund VI.

 

–ENDS–

 

About Rocket Factory

Rocket Factory Augsburg was founded in 2018 with the vision to enable data generating business models in space to better monitor, protect and connect our planet Earth. The company’s goal is to offer launch services of up to 1.300kg into low Earth orbits and beyond on a weekly basis at highly competitive prices. RFA wants to democratize access to space and reduce the launch costs in the space industry. The RFA ONE launch service combines three key competitive advantages: A customer-focused service with precise in-orbit delivery and a high degree of mission flexibility through its Redshift OTV; at a highly competitive price; made possible by superior staged combustion technology, low-cost stainless-steel structures and usage of industrial components. In June 2023, RFA became the first company in Europe to hot fire a complete staged combustion engine upper stage over its entire flight duration. Including this milestone, RFA has invested a total of less than €50m.

For more information, please visit: www.rfa.space

 

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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Media Contact:

Jonas Kellner                                                                         

Phone: +49 821 999576-21                                               

Email: jonas.kellner@rfa.space                                       

 

Rocket Factory Augsburg AG

Berliner Allee 65

86153 Augsburg

Germany

 

Chairman of the Supervisory Board: Jean-Jacques Dordain

Board of Directors: Stefan Tweraser, Stefan Brieschenk, Jörn Spurmann

Seat of the company: Augsburg

Registry Court: AG Augsburg, HRB 34251

USt-ID/Tax-ID: DE319402838

 

Media Relations KKR:

 

Thea Bichmann

Tel.: + 49 (0)172 13 99 761

E-Mail: kkr@fgsglobal.com

 

Emily Lagemann

Tel.: + 49 (0)160 992 713 35

E-Mail: kkr@fgsglobal.com

 

 

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