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ProcessMAP partners with Hg

HG Capital

ProcessMap partners with Hg, a global software investor, to accelerate its strategy towards becoming a global software leader in worker health and safety management

Hg’s strategic investment will accelerate ProcessMAP’s position towards a category leader in the rapidly growing EHS Risk and Compliance software sector.

Ft. Lauderdale, Florida, USA and New York, New York, USA.  5 January 2022.

ProcessMAP Corporation (“ProcessMAP”), a leading Environmental, Health and Safety (“EHS”) software platform provider, announced today that Hg, a leading software and services investor with nearly $40 billion funds under management, has agreed to make a significant investment in the business to accelerate ProcessMAP’s growth and expansion, and help solidify the company’s position as a global leader in the EHS software sector.

Following the transaction, ProcessMAP’s management team will retain a significant stake in the business. The terms of the transaction are not disclosed.

Founded in 2000, ProcessMAP’s vision is to enable businesses to proactively mitigate workplace health and safety risks for workers. ProcessMAP’s SaaS and mobile solutions serve mid-market and enterprise customers across large industry verticals such as automotive and manufacturing. ProcessMAP’s solutions are used by global customers in more than 140 countries, covering 2 million workers across 80,000 sites. Headquartered in Florida, ProcessMAP has nearly 300 employees based in the USA, Canada, the UK, Germany and India. The company is regularly recognized as a “Leader” in the biennial Green Quadrant report for EHS software published by Verdantix, an independent industry analyst for the EHS sector.

Accelerating the Innovation Momentum for ProcessMAP Customers

ProcessMAP will leverage the financial investment as well as Hg’s 20+ years of industry-leading experience in building and rapidly growing innovative software businesses.  The financial partnership with Hg will also enable ProcessMAP to deliver next-generation, smart and connected EHS solutions to its customers globally. Additionally, the company will also make investments to expand its team globally, strengthen its position further, and broaden its global customer base, particularly in Europe and Asia-Pacific.

Comments on the News

“We share our customers’ commitment to create and offer the safest and the healthiest workplaces, while minimizing the environmental impact of day-to-day operations. Bringing in Hg to invest in our business comes at a very interesting time as we see an opportunity to help customers protect millions more workers globally.”

Dave Rath, CEO and Co-Founder of ProcessMAP

“This partnership, built on software knowledge and experience, will enable us to develop our analytics-driven software further, helping more customers across the globe optimize their EHS processes while, critically, mitigating operational and sustainability risk.”

Jagan Garimella, CTO and Co-Founder of ProcessMAP

“Hg has been focused on risk and compliance software for two decades and we see strong tailwinds continuing to drive demand in this sector. The impressive work from Dave Rath, Jagan Garimella, and the team means that ProcessMAP is well-positioned to benefit from this dynamic. They’ve built a high-quality platform which receives consistent, strong feedback from a loyal customer base. We believe that together, Hg and ProcessMAP, will form a strong partnership and we look forward to supporting the team, investing in the business and continuing to realize its growth potential.”

Ben Meyer, Partner at Hg

KPMG Corporate Finance acted as the exclusive investment banking advisor to ProcessMAP.

Media Contacts

Hg
Tom Eckersley
Tom.Eckersley@hgcapital.com
+44 208 148 5401

Alex Yankus and Harry Mayfield (Brunswick, USA)
+1 917 818 5204

ProcessMAP
Sandeep Rath
Director, Global Product Marketing and Analyst Relations
srath@processmap.com

About ProcessMAP Corporation

ProcessMAP Corporation is the most trusted name for a digitization and process transformation platform that empowers customers to ensure workers’ health & safety, minimize risk, and assure compliance. The ProcessMAP Platform includes solutions for Environmental, Health and Safety (EHS), Environmental, Social and Governance (ESG), and Operational Risk Management (ORM), Industrial IoT, and actionable data analytics to connect people, systems, assets, and facilities to drive a Sustainable Enterprise. ProcessMAP is headquartered in Ft. Lauderdale, Florida, with locations across the globe, serving customers in over 140 countries. Visit https://www.processmap.com/ to learn more.

About Hg

Hg is a growth platform for software and services champions, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of around $40 billion, with an investment team of over 140 professionals, plus a portfolio team of around 40 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $92 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year. Visit www.hgcapital.com for more information.

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Fractal announces US$ 360 million investment from TPG

TPG Capital

TPG, a leading global alternative asset firm, and Fractal (fractal.ai), a global provider of artificial intelligence and advanced analytics solutions to Fortune 500® companies, today announced that they have signed a definitive investment agreement. TPG is investing US$ 360 million (about INR 2700 crores) in Fractal through TPG Capital Asia, the firm’s Asia-focused private equity platform, in a transaction that includes a combination of primary investment and secondary share purchase from Funds advised by Apax, who will remain a major shareholder following the transaction. The transaction is expected to close by the first quarter of 2022. Additional terms were not disclosed.

“We continue to see great momentum in how clients are leveraging AI to accelerate digital transformation. Fractal is building a great workplace and an innovative culture that’s driving significant client outcomes through our ‘user focused, decision-backwards’ approach to solving problems,” said Srikanth Velamakanni, Co-founder & Group CEO, Fractal. “TPG’s capabilities across all our markets and their proven success in building and supporting top AI providers is the perfect complement to the partnership we’ve enjoyed with Apax, whose insight and expertise have been instrumental in accelerating our growth.”

Pranay Agrawal, Co-founder & CEO, Fractal, said: “The demand for AI is surging across the enterprise. Our AI solutions and products, along with our globally recognized team of experts, empower these organizations to realize and maximize their full potential. Apax has been a great partner to us as we have worked to grow our business, providing valuable insights from their tech experience, operational leadership, and access to their unique network. As we continue to build upon this foundation, the investment from TPG will accelerate our ability to scale and meet this rising demand globally.”

“In the growing market for data and analytics services, Fractal continues to stand out as one of the most well-established, differentiated providers and a clear leader in AI and advanced analytics,” said Puneet Bhatia, Co-Managing Partner of TPG Capital Asia. “The quality of Fractal’s offering has enabled them to build a deep and loyal client -base, made up of some of the world’s largest and most respected companies. Srikanth and Pranay have built a highly respected and market leading company, and we are excited to partner with this proven management team to continue to enhance Fractal’s organic and strategic growth.”

Rohan Haldea, Partner at Apax and Shashank Singh, Partner at Apax, commented: “Since partnering with Fractal, we have been able to combine the Company’s strong value proposition and unique culture with Apax’s deep tech expertise to drive the business forward. We are proud of the progress the Company has made to date alongside Srikanth and Pranay, establishing Fractal as one of the leading players in the rapidly-evolving analytics and AI space, and look forward to partnering with TPG and Fractal in this next chapter for the business.”

Fractal is one of the most prominent players in the Artificial Intelligence space. Fractal’s mission is to power every human decision in the enterprise and brings AI, engineering, and design to help the world’s most admired Fortune 500® companies. Fractal has more than 3,500 employees across 16 global locations, including the United States, UK, Ukraine, India, Singapore, and Australia.

As part of the transaction, TPG’s Puneet Bhatia and Vivek Mohan will join Fractal’s board of directors. All current directors including Gavin Patterson, Rohan Haldea, Shashank Singh, and Gulu Mirchandani will continue to serve on the company’s board. Both TPG and APAX will be minority shareholders in the company.

TPG is a leading investor in software and enterprise technology with extensive experience partnering with the world’s top AI solutions, business analytics, and data processing companies. Select current and past investments include C3 AI, Digital.ai, LLamasoft, MX, Noodle Analytics, and Onfido.

GLOBAL MEDIA CONTACT

Katarina Sallerfors

t: +44 20 7872 6300

Luke Charalambous

t: +44 20 7872 6300

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Smile Doctors Receives Strategic Investment from Thomas H. Lee Partners

Linden

January 5, 2022 | For Immediate Release

(Georgetown, TX) January 5, 2022 – Smile Doctors, the largest and fastest growing orthodontics-focused dental support organization (“OSO”) in the U.S., with more than 295 locations, announced a strategic investment from Thomas H. Lee Partners, L.P. (“THL”), a premier private equity firm investing in growth companies. THL is investing alongside existing financial sponsor Linden Capital Partners (“Linden”) in an equal partnership. Affiliated orthodontists will retain a significant ownership stake in the organization. The new partnership will support Smile Doctors’ efforts of continued growth and expanded service offerings.

“As we focus on making quality orthodontic care accessible to more people across the United States, we are thrilled to welcome our new partners at THL,” said J. Hedrick, CEO of Smile Doctors. “Along with our existing partners at Linden, we are excited about the opportunity to create new partnerships with thriving practices and continue to expand our services through this new relationship. This partnership allows our team members to remain committed to providing excellent care in our communities with all-inclusive orthodontic treatment that results in beautiful, confident smiles and genuine, unforgettable experiences.”

“We have been very impressed with Smile Doctors’ proven track record of delivering best-in-class services and achieving exceptional patient satisfaction. We look forward to supporting the company’s doctors as they grow and extend this model of patient-centric care,” said Joshua Nelson, Managing Director and Head of Healthcare at THL. “Smile Doctors is the platform of choice for clinicians at every stage of their careers,” said Megan Preiner, Managing Director at THL. “We are committed to helping the Company’s talented, affiliated orthodontists grow their practices and extend patient access to best-in-industry resources and services.”

“We are proud of the strong growth and performance at Smile Doctors since our initial investment in 2017 and look forward to continuing to support J. and the Smile Doctors team,” said Tony Davis, President and Managing Partner at Linden. “We are excited to partner with THL and believe our combined resources, experience, and capital will help drive continued success going forward,” added Mike Watts, Partner at Linden.

Kirkland & Ellis acted as legal advisor, William Blair and Houlihan Lokey acted as financial advisors, and Ernst & Young acted as accounting advisor to Smile Doctors.

Kirkland & Ellis acted as legal advisor, Jefferies acted as financial advisor, and Deloitte acted as accounting advisor to THL.

About Smile Doctors, LLC
Smile Doctors, LLC, is the largest orthodontics focused dental support organization (OSO) in the U.S. The company has the fastest-growing network of award-winning orthodontists. With more than 295 convenient locations in 25 states, Smile Doctors has a rich history of developing and growing affiliated practices by providing tools and technology that allow their orthodontists to focus entirely on patient care. Smile Doctors is the largest network of Diamond Plus Invisalign® providers. Smile Doctors orthodontists are proud members of the American Association of Orthodontists, American Dental Association, and host for the Lecture Center for Orthodontic Excellence. Smile Doctors’ mission is to create confident smiles that inspire the best in their patients, each other, and the communities they serve. For more information, please visit www.smiledoctors.com.

About Thomas H. Lee Partners
Thomas H. Lee Partners, L.P. (“THL”) is a premier private equity firm investing in middle-market growth companies exclusively in three sectors: Healthcare, Financial Services, and Technology & Business Solutions. THL couples deep sector expertise through an Identified Sector Opportunity (“ISO”) process with dedicated internal operating resources from its Strategic Resource Group (“SRG”) to transform and build great companies of lasting value in partnership with management. The Firm’s domain expertise and resources help to build great companies with an aim to accelerate growth, improve operations and drive long-term sustainable value. Since 1974, THL has raised more than $30 billion of equity capital, invested in over 160 companies and completed more than 500 add-on acquisitions representing an aggregate enterprise value at acquisition of over $210 billion. For more information, please visit www.thl.com.

About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is one of the country’s largest dedicated healthcare private equity firms. Linden’s strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating expertise, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Since its founding, Linden has invested in over 40 healthcare companies encompassing over 200 total transactions. The firm has raised over $6 billion in limited partner commitments since inception. For more information, please visit www.lindenllc.com.

Media Contacts

Smile Doctors
Jennifer De Jong
(713) 304-1095
Jennifer.De-Jong@smiledoctors.com

Thomas H. Lee Partners
Tim Quinn
Edelman
(646) 258-2308
timothy.quinn@edelman.com

Linden Capital Partners
info@lindenllc.com

Categories: News

Fractal announces US$ 360 million investment from TPG

Apax

TPG, a leading global alternative asset firm, and Fractal (fractal.ai), a global provider of artificial intelligence and advanced analytics solutions to Fortune 500® companies, today announced that they have signed a definitive investment agreement. TPG is investing US$ 360 million (about INR 2700 crores) in Fractal through TPG Capital Asia, the firm’s Asia-focused private equity platform, in a transaction that includes a combination of primary investment and secondary share purchase from Funds advised by Apax, who will remain a major shareholder following the transaction. The transaction is expected to close by the first quarter of 2022. Additional terms were not disclosed.

“We continue to see great momentum in how clients are leveraging AI to accelerate digital transformation. Fractal is building a great workplace and an innovative culture that’s driving significant client outcomes through our ‘user focused, decision-backwards’ approach to solving problems,” said Srikanth Velamakanni, Co-founder & Group CEO, Fractal. “TPG’s capabilities across all our markets and their proven success in building and supporting top AI providers is the perfect complement to the partnership we’ve enjoyed with Apax, whose insight and expertise have been instrumental in accelerating our growth.”

Pranay Agrawal, Co-founder & CEO, Fractal, said: “The demand for AI is surging across the enterprise. Our AI solutions and products, along with our globally recognized team of experts, empower these organizations to realize and maximize their full potential. Apax has been a great partner to us as we have worked to grow our business, providing valuable insights from their tech experience, operational leadership, and access to their unique network. As we continue to build upon this foundation, the investment from TPG will accelerate our ability to scale and meet this rising demand globally.”

“In the growing market for data and analytics services, Fractal continues to stand out as one of the most well-established, differentiated providers and a clear leader in AI and advanced analytics,” said Puneet Bhatia, Co-Managing Partner of TPG Capital Asia. “The quality of Fractal’s offering has enabled them to build a deep and loyal client -base, made up of some of the world’s largest and most respected companies. Srikanth and Pranay have built a highly respected and market leading company, and we are excited to partner with this proven management team to continue to enhance Fractal’s organic and strategic growth.”

Rohan Haldea, Partner at Apax and Shashank Singh, Partner at Apax, commented: “Since partnering with Fractal, we have been able to combine the Company’s strong value proposition and unique culture with Apax’s deep tech expertise to drive the business forward. We are proud of the progress the Company has made to date alongside Srikanth and Pranay, establishing Fractal as one of the leading players in the rapidly-evolving analytics and AI space, and look forward to partnering with TPG and Fractal in this next chapter for the business.”

Fractal is one of the most prominent players in the Artificial Intelligence space. Fractal’s mission is to power every human decision in the enterprise and brings AI, engineering, and design to help the world’s most admired Fortune 500® companies. Fractal has more than 3,500 employees across 16 global locations, including the United States, UK, Ukraine, India, Singapore, and Australia.

As part of the transaction, TPG’s Puneet Bhatia and Vivek Mohan will join Fractal’s board of directors. All current directors including Gavin Patterson, Rohan Haldea, Shashank Singh, and Gulu Mirchandani will continue to serve on the company’s board. Both TPG and APAX will be minority shareholders in the company.

TPG is a leading investor in software and enterprise technology with extensive experience partnering with the world’s top AI solutions, business analytics, and data processing companies. Select current and past investments include C3 AI, Digital.ai, LLamasoft, MX, Noodle Analytics, and Onfido.

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LINXIS Group announces the acquisition of Shaffer

IK Partners

January 5, 2022

FOR IMMEDIATE RELEASE (NANTES, France) – LINXIS Group, global leader in ingredient automation, pre-dough systems, mixing and depositing technologies for the food and health industries, together with its financial sponsor IK Partners, are pleased to announce the acquisition of Shaffer, industrial mixers and process equipment, from Bundy Baking Solutions. The Bundy family will remain as minority owners in the business.

Shaffer’s market leading horizontal mixer strengthens the Mixing Technologies division of LINXIS which includes Diosna and VMI, two world leaders in vertical and continuous mixing technology. Shaffer industrial mixers are engineered to be the most sanitary, durable and innovative horizontal mixers in the industry.

“The addition of Shaffer enables Linxis Group to build on our family of market leading brands. Shaffer is well known throughout the industry for providing highly reliable and innovative equipment with a focus on customer service and support. We look forward to continuing that legacy by supporting the team at Shaffer in product development and international expansion. We welcome the Shaffer team to our group.” – LINXIS Group CEO and President, Tim Cook

“We are very excited for Shaffer and the new opportunities that they will discover as part of Linxis Group. We have had the privilege of working with the Shaffer team for the last 14 years and believe this was the next step in realizing the full market potential of Shaffer. We know that the Linxis Group team, together with the existing Shaffer team, will continue to move Shaffer forward to be the world leader in the horizontal mixer category.“ – Bundy Baking Solutions CEO, Gilbert Bundy

“Joining the Linxis Group provides Shaffer with additional resources for research and development and enables us to further integrate and advance ingredient and mixing systems. The ultimate result of this new venture is that now, more than ever, we are able to provide our customers the best mixing solutions and services possible.“ – Shaffer Vice President, Kirk Lang

LINXIS GROUP CONTACTS
Lysiane Laot | Claire Auffredou
contact@linxisgroup.com

SHAFFER CONTACTS
Kirk Lang
klang@shaffermixers.com

IK PARTNERS CONTACTS
Vidya Verlkumar
vidya.verlkumar@ikpartners.com

BUNDY BAKING SOLUTIONS CONTACTS
Wendi Ebbing
webbing@bundybakingsolutions.com

About LINXIS Group

LINXIS Group gathers leaders in specialized equipment for the food and health industries – Bakon, Diosna, Shick Esteve, Unifiller and VMI are experts in ingredient automation, pre-dough systems, mixing and depositing technologies. Their common mission is to grow their position as global leaders in process equipment design and supply, for the customers they serve all around the world. www.linxisgroup.com

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About Shaffer

Shaffer is leading the innovation of mixers and processing equipment, providing customized solutions and total support to customers so they can mix products precisely and efficiently. www.shaffermixers.com

About Bundy Baking Solutions

Bundy Baking Solutions is the most trusted supplier of essential equipment, bakeware, coatings and services to bakers around the world, empowering your bakery to focus on what matters the most – feeding the world. www.bundybakingsolutions.com

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About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in 160 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

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Cinven announces Partner promotions

Cinven

International private equity firm Cinven today announces the promotion of five individuals to Partner with effect from 1 January 2022:

Anthony Cardona

Anthony is a member of Cinven’s Industrials team. He has been involved in investments including Arxada, Chryso, CPA Global, Visma and Ziggo.  He joined Cinven in 2010.

Anthony Santospirito

Anthony is a member of Cinven’s Healthcare team. He has been involved in investments including Clario (formerly Bioclinica), Barentz, CPA Global, Gondola and Premium Credit. He joined Cinven in 2011.

John Richardson

John is a member of Cinven’s Healthcare and North America teams. He has been involved in investments including Arxada, Barentz, Medpace and National Seating & Mobility. He joined Cinven in 2017.

Matteo Corà

Matteo is a member of Cinven’s Consumer team. He has been involved in transactions including Partner in Pet Food and Restaurant Brands Iberia. He joined Cinven in 2018.

Stuart Walker

Stuart is a member of Cinven’s Portfolio team. He has been involved in portfolio companies including Compre, Envirotainer, Hotelbeds, LGC, OMNES Education (formerly INSEEC.U.), Planasa and TK Elevator. He joined Cinven in 2018.

Commenting on these promotions to Partner, Stuart McAlpine, Managing Partner of Cinven, said:

“I am delighted to announce these well-deserved promotions, which reflect the significant contribution these individuals have made to our business, as well as Cinven’s commitment to investing in, and developing, the talent within our firm. The continued growth of Cinven’s Partner group provides the firm with a strong foundation for the future.

2021 has been a pivotal year for the firm, marked by our origination and conversion of nine highly attractive investments and I would like to thank our Limited Partners and the entire Cinven team for their continued support in helping us achieve this collective success.”

Categories: People

Westbrook Inc. Announces Strategic Minority Investment from Candle Media, Next-Generation Media Company Backed by Kevin Mayer, Tom Staggs, and Blackstone

Blackstone

LOS ANGELES & NEW YORK – Candle Media (“Candle”), the next-generation media company run by leading entertainment executives Kevin Mayer and Tom Staggs and backed by investment capital from Blackstone, today announced a strategic minority investment in Westbrook Inc., the media company founded by Jada Pinkett Smith, Will Smith, Miguel Melendez and Ko Yada, focused on empowering artists to tell stories that connect the world. Terms of the transaction were not disclosed.

Kevin Mayer and Tom Staggs said: “We are thrilled to back Will and Jada and for the opportunity to work with Westbrook’s CEO Ko Yada and the rest of their incredibly talented team. They have established Westbrook as a home for world-class creators that is built for the digital age – which fully aligns with our company’s vision for the future of media. We are excited for what we can all achieve together with Blackstone in the years ahead.”

Joe Baratta, Global Head of Private Equity at Blackstone, and David Kestnbaum, a Senior Managing Director at Blackstone, said: “Will, Jada, and Westbrook have a deep firsthand understanding of today’s evolving entertainment content and social media environment – and how to create high-quality, engaging content that spans platforms, genres, and geographies. We look forward to helping accelerate the company’s growth as they continue to build a next-generation leader in global entertainment.”

Jada Pinkett Smith and Will Smith commented: “Westbrook is the realization of our dream to give artists from all backgrounds equal opportunities to pursue their creative visions and share their stories.  We are pleased to join forces with Kevin, Tom and Blackstone to accelerate this mission by growing our content pipeline, our talent network, and our global expansion plans.”

Ko Yada, CEO of Westbrook Inc., said: “When we launched Westbrook just two and a half years ago, our mission was to empower artists to connect the world, and we do that through the independent infrastructure we’re building. We started with a focus on premium content across all platforms in a way that would bring creators, artists, brands, and global audiences together. As we look to the next phase of the company, Kevin, Tom and Blackstone are ideal strategic partners. We look forward to this new relationship, building out more infrastructure, and working with more artists to help tell stories that connect.”

Westbrook was formed to execute the Smith Family’s vision to improve as many lives as possible through storytelling. Their parent company, Westbrook Inc., furthers that mission by providing strategic, financial, legal, and operational support to its studio and media companies and developing new business opportunities for revenue growth and diversification. Westbrook houses Westbrook Studios, the premium film and television studio; Westbrook Media, an integrated IP incubator, brand content studio, and production company; Red Table Talk Productions, maker of the Emmy Award-winning Facebook Watch show Red Table Talk and Red Table Talk: The Estefans; and Good Goods, a direct-to-consumer business which creates unique consumer products around the company’s IP and talent partners. By leveraging the Smith Family’s deep experience in entertainment and media, Westbrook curates and produces content – from short and mid-form digital to traditional television and motion pictures – for all major platforms.

In just over two years, Westbrook has created a diverse and robust slate of content including feature films, scripted and unscripted television, animated series, digital series and more. On the Westbrook Studios side, projects include the critically acclaimed film KING RICHARD, based on the life of Richard Williams, father to tennis greats Serena and Venus, the six-part docuseries on Netflix, Amend: The Fight For America, which uses a groundbreaking narrative format to explore the Fourteenth Amendment through the lens of American history, posing the question, what does “united states” really mean, season 4 of the six-time Emmy nominated and SAG Award nominated series Cobra Kai, and Welcome to Earth with National Geographic which premiered on Disney+. Westbrook Media has produced and released projects with partners including Facebook, Snapchat, YouTube, and HBO Max including Snapchat’s most popular series ever – Will Smith’s Will From Home which garnered 43M+ viewers, as well as Will From Home Season 2, Ryan Doesn’t Know starring Ryan Reynolds, Jaden Smith’s social justice series The Solution Committee, Charli Vs. Dixie with social media sensations, Charli and Dixie D’Amelio, the YouTube series Best Shape of My Life with Will Smith as well as Alicia Keys docu-series, Noted, along withHulu’s photography competition series Exposure, and the HBO Max hit Fresh Prince of Bel-Air reunion.

In addition to the projects that have already been released, upcoming high profile projects include the film EMANCIPATION, which sold to Apple TV+ in the largest film festival acquisition deal in film history, the scripted television series Bel-Air, the dramatic reboot of Will Smith’s iconic The Fresh Prince Of Bel-Air which landed a two season order from Peacock and premieres in February, a five year first-look deal with National Geographic to create adventure, exploration, travel and science content and upcoming Snapchat series Off Thee Leash with Megan Thee Stallion.

Other film projects in production and development include the drama REDD ZONE, starring Jada Pinkett Smith at Netflix and based on the true story of Tia Magee and her sons, the hip-hop musical feature SUMMERTIME based on Will Smith and DJ Jazzy Jeff’s hit song for Sony Pictures’ Screen Gems, CLEAN AIR, a joint project from Westbrook, NASCAR and the Chainsmokers, action-thriller FAST & LOOSE starring Will Smith and directed by David Leitch, and THE SOUL SUPERHERO, a live action musical fantasy film with a screenplay that is co-written by Kwame Kwei-Armah and songwriter-producer, Freddy Wexler, and based on an original story by Wexler. Upcoming television seriesinclude This Joka, a 16-episode standup comedy series premiering on Roku in March 2022; a two-season order of the docu-scripted hybrid series African Queens coming soon to Netflix,and a one-hour variety special hosted by Will Smith.

Westbrook’s executive team includes Ko Yada, CEO, Tera Hanks, President, Gila Jones, COO, Kevin McDonald, CFO, Brad Haugen, President of Westbrook Media, Terence Carter, Co-President, Head of Television, Westbrook Studios, and Jon Mone, Co-President, Head of Film, Westbrook Studios. Westbrook was listed as one of Fast Company’s 10 Most Innovative Companies in 2021.

The name of the Mayer-Staggs-Blackstone backed company, Candle, reflects the light of creativity at the heart of its model as an independent, creator-friendly home for cutting-edge, high-quality, category-defining brands and franchises. By bringing together elite talent operating at the intersection of content, community, and commerce, Candle helps position leading entertainment businesses for accelerated, sustainable growth in the current market and beyond. The company has previously announced acquisitions Hello Sunshine, the mission-driven media company that puts women at the center of every story it creates, founded by Reese Witherspoon; and Moonbug Entertainment, the digital-first, global children’s entertainment company behind highly popular shows such as CoComelon, Blippi, Little Baby Bum, and many others. Blackstone’s investment in Candle has been made through funds affiliated with the firm’s flagship private equity business.

About Westbrook

Launched in 2019 by founders Jada Pinkett Smith, Will Smith, Miguel Melendez, and Ko Yada, Westbrook is a media company that empowers artists to tell stories that connect the world.  Westbrook houses Westbrook Studios, the premium film and television studio; Westbrook Media, a vertically-integrated IP incubator, brand content studio, and production company; Red Table Talk Productions, maker of the Emmy Award-winning Facebook Watch shows Red Table Talk and Red Table Talk: The Estefans; and Good Goods, which creates unique consumer products around the company’s IP and talent partners.  By leveraging the Smith Family’s deep experience in entertainment and media, Westbrook curates and produces content – from short and mid-form digital to traditional television and motion pictures – for all major platforms.

About Blackstone

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

***

Media Contacts

Blackstone:
Matt Anderson
518-248-7310
Matthew.Anderson@Blackstone.com

Westbrook Inc.:
Sarah Rothman
(917) 623-6060
sarah.rothman@ledecompany.com

Meredith O’Sullivan
(310) 754-6016
meredith.osullivan@ledecompany.com

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RTI Surgical announces spin-off of businesses into two independent companies

Montagu

Metals business will become Resolve Surgical Technologies
Tissues & Biologics business will retain the RTI Surgical name

 

RTI Surgical, a global private label OEM company, announced today that the company will spin off its Metals business, creating two independent companies that are focused on the needs of customers and patients in their distinct market segments. Ownership of both companies will be retained by Montagu, a leading private equity firm specialized in finding and growing businesses that make the world work.

As industry-leading surgical implant suppliers, both businesses partner with leading medical technology companies to design and develop medical devices. The spin-off will reinforce market focus for both the Metals and Tissue & Biologics businesses and better position each company to capitalize on strategic growth opportunities as the need for outsourced private label medical device manufacturing and product life cycle management increases.

 

Metals Business Introduces New Market Brand

As a result of the spin-off, the Metals business, which acts as a full-service partner covering design, development, manufacturing, and regulatory support of metal and polymer implants and instruments used in orthopedics, spine and cardiothoracic applications, will change its name and market brand to Resolve Surgical Technologies. The new name reflects the company’s commitment to resolve customers’ end-to-end manufacturing and product lifecycle challenges, so they are free to focus on their strategic priorities.

The current President of the Metals business, Megan Osorio, will become CEO of Resolve Surgical Technologies, focusing on meeting the growing demand for fully outsourced solutions, “Since the company was founded 30 years ago, our hallmark has been innovative product development, world-class manufacturing, rigorous quality management, and regulatory expertise. Our new brand carries this equity forward and communicates our exciting direction as an independent company,” said Osorio.

Since the company was founded 30 years ago, our hallmark has been innovative product development, world-class manufacturing, rigorous quality management, and regulatory expertise.

Megan Osorio, CEO, Resolve Surgical Technologies

Resolve Surgical Technologies was founded in Marquette, Mich. in 1992 as Pioneer Surgical Technologies and was acquired by RTI Surgical in 2013. The company will build on its Marquette facility and workforce.

 

Tissues & Biologics Business to Retain RTI Surgical Name

The Tissues & Biologics business, which provides a comprehensive portfolio of tissue-based surgical implants across multiple market segments and commercial channels, will retain the RTI Surgical name. Olivier Visa, CEO, will continue to lead this company, which is based in Alachua, Fla., and has manufacturing facilities in Greenville, N.C. and Neunkirchen, Germany. “Our team is passionate about partnering with our customers to develop and deliver solutions that restore quality of life for patients while maximizing the gift of tissue donation. With RTI Surgical’s singular focus on allograft and xenograft tissue-based implants, our team will provide expanded private label solutions for customers. Our expertise includes design, development, and processing in addition to all aspects of product life cycle management, regulatory compliance and Design History File ownership,” said Visa.

Our team is passionate about partnering with our customers to develop and deliver solutions that restore quality of life for patients while maximizing the gift of tissue donation.

Olivier Visa, CEO, RTI Surgical

RTI was the first company to offer precision-tooled bone implants and assembled technology to maximize each gift of tissue donation. The company was also the first to introduce proprietary, validated, tissue-specific sterilization processes that address the risk of donor-to-recipient disease transmission.

“This is an exciting opportunity for both businesses to pursue their growth potential as strong, independent companies,” said Adrien Sassi, Director at Montagu. “This milestone builds on our expertise in carve-outs and commitment to helping our businesses reach their full potential. We are fully committed to supporting Olivier, Megan and their teams as they build on their respective track records of innovation.”

This is an exciting opportunity for both businesses to pursue their growth potential as strong, independent companies.

Adrien Sassi, Director, Montagu

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IK Partners to invest in STEIN HGS

IK Partners

IK Partners (“IK”) is pleased to announce that the IK Small Cap III Fund has signed an agreement to acquire STEIN HGS GmbH (“STEIN HGS” or “the Company”), a leading B2B e-commerce specialist for barrier technology, municipality, construction site and facility management supplies. IK is investing from its dedicated pool of Development Capital and is acquiring its stake from Lennertz & Co. (“Lennertz”) and the founder, Bodo Stein; both of whom will be reinvesting alongside IK. Financial terms of the transaction are not disclosed.

STEIN HGS was established in 1999 by Bodo Stein and is headquartered in Seevetal, close to Hamburg. Since then, it has evolved to become the leading online retailer in its market segment with 30 employees. It serves a broad range of long-standing private and public sector customers, including small and large construction firms, local craftsmen, municipalities and facilities management firms.

With the support of Lennertz since 2019, STEIN HGS has managed to successfully grow and diversify its offering and increase its presence across its key markets. Today, it has an offering of around 200,000 individual items on its online platforms with a loyal and growing customer base.

Through this new partnership with IK, STEIN HGS aims to further develop through continued new customer acquisitions, broadening and expanding the e-commerce offering and increasing the product range. The Company will continue to be led by the CEO Stephan Otte and his team.

Stephan Otte, Chief Executive Officer at STEIN HGS, said: “We strongly feel that a partnership between STEIN HGS, IK, Lennertz and Bodo Stein will form a solid basis on which we can further develop and achieve our growth strategy. Since inception, we have continuously grown our platform and with the collaborative efforts of all investors, we are confident of achieving our joint strategic vision.”

Erol Ali Dervis, Private Equity Manager at Lennertz said: “We’re delighted with the progress STEIN HGS has made since 2019, supporting them in their growth and seizing many opportunities in the fragmented market in which they operate. With the addition of IK as an investor, we are looking forward to building upon this and strategically enhancing the Company’s position.”

Ingmar Bär, Director at IK Partners and Advisor to the IK Small Cap III Fund, said: “STEIN HGS occupies the leading position in a growing market due to the shift towards online purchasing and the Company’s strong focus on delivering the best-in-class customer service. We look forward to partnering with Stephan Otte and his team as they continue to expand the product offering and customer base while entering new markets.”

Completion of the transaction is subject to legal and regulatory approvals.

For further questions, please contact:
IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

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TPG Real Estate completes acquisition of Studio Babelsberg AG

TPG Capital

January 3, 2022 – TPG Real Estate Partners (“TREP”), the dedicated real estate equity investment platform of alternative asset firm TPG, today announced it has completed the acquisition of Studio Babelsberg AG (“Studio Babelsberg”). Dr. Carl L. Woebcken and Mr. Christoph Fisser, CEO and COO of Studio Babelsberg, respectively, maintain a minority stake in the business.

On 16 September 2021, TREP announced that it agreed to acquire a stake in Studio Babelsberg via acquisition of the company’s main shareholder, Filmbetriebe Berlin Brandenburg GmbH (FBB), which was controlled by Mr. Woebcken and Mr. Fisser. As part of the agreement, FBB launched a public tender offer to acquire a majority of the shares in Studio Babelsberg for a cash offer price of EUR 4.10 per Studio Babelsberg Share. The offer was subject to a minimum acceptance threshold, which was fulfilled on 29 October 2021 following a successful acceptance period. All closing conditions of the transaction have now been fulfilled.

With the closing of the transaction, Studio Babelsberg has become part of TREP’s global studio platform, Cinespace Studios (“Cinespace”). Cinespace is the second largest sound stage operator in North America. With Studio Babelsberg, Cinespace will now operate 90 stages, furthering its strategy of building a best-in-class studio platform for premier content makers across the globe. Studio Babelsberg will continue to operate as an independent brand but benefit from the resources and networks provided by the global platform. Studio Babelsberg has a long history of hosting best-in-class content production, including recent German local language series such as Dark, Babylon Berlin, and 1899, as well as world renowned feature films such as Inglorious Basterds, V for Vendetta, Bridge of Spies, and recently The Matrix Resurrections.

“Across the globe, Studio Babelsberg is known for its quality and as a symbol of Berlin’s and Brandenburg’s creative culture,” said Michael Abel, Partner at TREP. “With Studio Babelsberg, we saw an opportunity to invest behind a leading studio facility that is well positioned to benefit from secular growth trends in media and content consumption. We support the company’s strategy and direction and look forward to growing the business.”

“We are excited to announce a successful completion of the transaction, and to welcome TREP as Studio Babelsberg’s new partner,” said Dr. Woebcken and Mr. Fisser. “The team values our rich history and brings significant insight and business building capabilities to Studio Babelsberg’s next chapter. We look forward to working together to further solidify our position as Europe’s premier studio.”  

“Studio Babelsberg has a strong tradition of film making that has served some of the most iconic films ever made,” said Eoin Egan, COO of Cinespace. “As appetite for high-quality content continues to increase, we look forward to working with the Studio Babelsberg and TREP teams to grow Berlin into a global hub for content production.”

About TPG Real Estate Partners 

TPG Real Estate Partners (“TREP”) is the dedicated real estate equity investment platform of global alternative asset firm TPG. Today, TREP has $5.5 billion of assets under management. Since its inception in 2009, TREP has built a differentiated investment portfolio comprised primarily of real estate-rich platforms and portfolios located in the United States and Europe. TPG was founded in 1992 and now has approximately $109 billion of assets under management with investment and operational teams in 12 offices around the world. For more information, visit www.tpg.com.

Media Contacts

TPG Real Estate Partners 

Deutschland:
Thomas Katzensteiner, Peter Steiner, Tobias Eberle
tpg-cb@charlesbarker.de

Europe: 
Alex Jones, Michael Russell, Daniel Oliver
tpg@greenbrookpr.com

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