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Artefact aims to become the world’s leading data services group following Ardian’s successful purchase offer.

Ardian

Ardian, a world-leading private investment house, together with Cathay Capital, are pleased to announce that their simplified tender offer for the remaining shares of Artefact, a leader in data services, has been accepted.

As the required conditions were met at the closing of the offer, the mandatory withdrawal on Artefact shares will be effective as of 21 December 2021 at €7.80 per share. Artefact’s legacy managers are also supporting this offer by reinvesting substantially alongside Ardian, to ensure the continuity of governance with Vincent Luciani as Group CEO.

Artefact was founded in 2014 by Vincent Luciani and Guillaume de Roquemaurel. After rapid international expansion, Artefact established itself as a leader in data-driven business transformation, with the aim of creating value by bridging the gap between data and business.

Today, Artefact has a global network, with operations across the world in Europe, Asia, the Middle East, the Americas and Africa, and over 800 employees. The company has partnered with major brands such as L’Oréal, Danone, Sanofi Orange and also supports major international accounts across a range of sectors from FMCG, Retail, Luxury, Telecoms, Healthcare, Tourism and Industry including for example: Samsung and Unilever.

Artefact’s data offerings have demonstrated their ability to scale AI projects globally, especially as only 10 to 15% of companies are currently incorporating data science-based solutions into their operations successfully. Artefact enables the implementation of fundamental services such as data governance and infrastructure, and the development of specialized solutions (call centre automation, demand forecasting, recommendation engines, and fraud detection). Artefact also has the most complete data-driven marketing portfolio on the market.

In a market driven by exponential growth in data, Ardian’s Expansion team, alongside Cathay Capital, a global investment firm with a strong presence in Asia, will support Artefact’s management team in a new phase of acceleration with the aim of becoming a global data services leader.

The new shareholders will support the group in its geographical expansion in Europe, Asia and the United States thanks to their global network and the significant resources that will be provided to the Group. Artefact will invest in an ambitious recruitment program for new talent with the aim of tripling its workforce by 2025, with already 500 recruitments planned for 2022. Finally, the Group will be an active player in the consolidation of the market by accelerating strategic acquisitions in a still highly fragmented data services market.

Artefact’s strength lies in the excellence of its people who are drawn to a company dedicated to building the next generation of “data leaders”. Strong human values, a committed CSR policy, and a continual job training, make Artefact one of the data industry’s most sought-after employers.

“The alliance with Ardian definitely marks a major turning point in the history of Artefact. The delisting and the arrival of a shareholder like Ardian, a strategic and long-term oriented investor, allows us to deploy an ambitious growth and recruitment plan, anchored on the high added value of our talents.” Vincent Luciani, Co-Founder and CEO of Artefact

“Our objective is to support this excellent management team in its ambition to become a world leader in data services. Our global network, expertise and significant resources will be available to Artefact and will help accelerate the group’s growth by strengthening its appeal to new talent by pursuing an ambitious market consolidation strategy.” Marie Arnaud-Battandier, Managing Director, Expansion team, Ardian

“We’re delighted to partner with Artefact and its management team alongside Ardian in a new phase of development. Artefact has built a strong client-recognized expertise in the field of data services and benefits from major growth potential in France and abroad. Cathay Capital will support Artefact’s ambitious organic and external growth strategy thanks to our technological know-how and ecosystem, especially in China.” Jérémie Falzone, Partner, Cathay Capital

PARTIES TO THE TRANSACTION

  • Ardian

    • Marie Arnaud- Battandier, Stephan Torra, Thomas Grétéré, Leslie Parmast.
    • Legal advisors: Latham & Watkins (Olivier Du Mottay, Olivia Rauch-Ravisé, Philippe Tesson, Mayssa Sader Michel Houdayer)
    • Financial advisors: Sycomore Corporate Finance (Tristan Dupont, Olivier Barret, Pierre-Arnaud De Lacharrière, Marion Pouchain), Clipperton Finance (Nicolas von Bulow, Martin Vielle), Natixis Partners (Philippe Charbonnier)
    • Financial advisors for the public offer: Société Générale (Stéphanie Kordonian, Stephane Krief, Asgar Sondarjee, Florent Guillermain)
    • Commercial Due Diligence: Bain & Company (Daphné Vattier, Thibaud Chabrelié, Guillaume Tobler)
    • Financial Due Diligence: Alvarez & Marsal (Ghislain De Seze, Simon Regad, Guillaume Blanchard)
    • Legal, tax and social Due Diligence: Kpmg Avocats (Xavier Houard, Thomas Chardenal)
    • Insurance Due Diligence: Finaxy (Deborah Hauchemaille)
    • Debt: Eurazeo (Eric Gallerne, Olivier Sesboüe), Tikehau, Eiffel, Bpi – Conseil juridique financement des banques: Paul Hastings (Olivier Vermeulen)

  • Cathay Capital

    • Jérémie Falzone, Benoît Seringe, Bertrand Uchan, Marc Lin
    • Commercial Due Diligence: Roland Berger (Jean-Michel Cagin, Cyrille Vincey)
    • Legal advisors: Hogan Lovells (Stéphane Huten, Arnaud Deparday)

  • Artefact

    • Vincent Luciani CEO Artefact
    • Guillaume De Roquemaurel Président du Conseil De Surveillance Artefact
    • Hayette Soltani Chief Financial Officer Artefact
    • Legal advisors: BDGS (Youssef Djehane, François Baylion, Marie Dupin, Jules Brizi)
    • Legal advisors to the management: Jausserand & Audouard (Tristan Audouard, Carole Degonse, Antoine Le Roux)
    • Financial advisors: Cambon Partners (Guillaume Teboul, Michael Azencot, Samuel Koubi, Côme Mullie)
    • Financial Due Diligence: Alvarez & Marsal (Frédéric Steiner, Nicolas Guillo, Baptiste Rideau)
    • Legal, tax and social Due Diligence: EY (Mathieu Dautriat, Charles Moulette, Solal Blanc, Adrien Khaznadji, Sylvie Magnen, Thomas Jaegle)

ABOUT ARDIAN

Ardian is a world leading private investment house with assets of US$120bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 800 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,100 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

ABOUT CATHAY CAPITAL GROUP

Cathay Capital Group is a global investment firm supporting companies at all stages throughout North America, Asia, Europe and Africa. By helping navigate the opportunities of globalization and sustainable transformation, Cathay is the partner of choice for companies aspiring to lead markets and make a positive impact. Its global platform connects people – from investors and entrepreneurs to management teams and leading corporations – across continents to share knowledge, the tools to scale, and achieve the extraordinary. Founded in 2007 with a strong entrepreneurial heritage, Cathay Capital now manages over $4.5B in assets, has completed over 220 buyouts, growth and venture capital investments with the global reach and local expertise from offices in Paris, New York, Shanghai, Munich, San Francisco, Beijing, Singapore, Shenzhen and Tel Aviv.
Follow us on LinkedIn, Twitter @CathayCapital

www.cathaycapital.com

ABOUT ARTEFACT

Artefact is a next-generation end-to-end data services company specialising in data transformation and data & digital marketing, transforming data into impact across the entire enterprise value chain Artefact’s unique approach, by bridging the gap between data and businesses, enables our clients to achieve their business goals in a dedicated and efficient manner. Our 800 employees combine their multi-disciplinary skills to help companies innovate and grow. Our cutting-edge Artificial Intelligence technologies and agile methods ensure the success of our clients’ AI projects, from design to deployment, training and change management. With 16 offices in Europe, Asia, North America, Latin America and Africa, we partner with leading global brands such as Orange, Samsung, L’Oréal, and Sanofi.

www.artefact.com

Media contacts

ARDIAN – Image 7

Anne-Charlotte Créac’h

accreach@image7.fr +33 1 53 70 94 21

Anatole Flahault

aflahault@image7.fr +33 1 53 70 74 26

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Aino Nuotio appointed legal counsel for Tesi’s HR & Compliance team

Aino Nuotio has been appointed legal counsel for Tesi’s HR & Compliance team as of December 15th, 2021. Aino joins Tesi from the Ministry of Finance, where she has worked primarily on tasks related to the prevention of money laundering and terrorist financing. Aino holds a Master of Laws from the University of Helsinki, and she has specialised in financial law, criminal law and communications and information law in her studies.

Welcome aboard, Aino!

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros.  www.tesi.fi | @TesiFII

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CONET Group acquires Karlsruhe-based ISB AG, strengthening its market position in the public and automotive sectors

IK Partners

Common values and matching areas of focus form an ideal basis for successful cooperation
in the CONET group of companies.

Hennef, December 15, 2021 – IT consulting firm CONET and the consultants and software developers
of Karlsruhe-based ISB AG will combine their industry expertise, development know-how and
consulting experience in the future. With this step, the two companies that have been successful
individually in the IT services market for more than 30 years, will benefit from complementary services
and customer relationships, particularly in the public and automotive sectors. The acquisition of ISB
AG was supported by IK Partners, CONET Group’s majority investor, with whom CONET is consistently
pursuing its growth course.

ISB AG, founded in 1981, has around 250 employees and specialises in software development and IT
consulting. With the addition of ISB AG, which has its headquarters in Karlsruhe and offices in Berlin,
Mainz and Stuttgart, the CONET group of companies is expanding its market position in key segments
and extending its portfolio of solutions in the fast-growing consulting and service sectors of process
automation, software development and digitalisation in public administration and industry.
Financial terms of the transaction have not been disclosed and the completion of the transaction is
subject to legal and regulatory approvals.

“We have found an ideal new partner in ISB AG,” explains Anke Höfer, CEO of the CONET group of
companies. With their distinctive expertise, especially in the areas of software development and
process consulting, we are complementing our portfolio in a targeted manner and are jointly pursuing
the strategy of further expanding our market position as a valued digitalisation partner.” ISB’s
management team is guided by the same values as we are and has built a strong and innovative
company that always keeps its finger on the pulse of digital development. We look forward to working
with them to develop even more powerful solutions for our customers.”
Ralf Schneider, who has been a member of the ISB AG Executive Board since 2005, adds: “Open and
cooperative partnership, respect, personal responsibility and, last but not least, transparency and a
long-term approach are central cornerstones of our corporate philosophy. CONET Group shares these
guiding principles, which are laid down in its corporate constitution CONET LIFE. This is the ideal basis
for us to create maximum added value for our customers with our deep understanding of processes,
industry knowledge and the highest methodological and technological competence and to offer our
employees excellent prospects. We are looking forward to the future together in a strong group of
companies!”

About ISB
ISB AG develops customised software solutions in the areas of software engineering and IT consulting.
As an innovative IT service provider, ISB AG has been supporting customers from the fields of industry
and public administration in the implementation of their software development projects for three
decades. Renowned industrial companies, federal, state and local authorities trust the expertise of ISB
AG. The company currently employs more than 250 process specialists, consultants and developers at
five locations in Germany, with its headquarters in Karlsruhe and offices in Mainz, Stuttgart and Berlin.
www.isb-ag.de

About CONET
“Success. Our passion.” CONET is the competent IT consulting company for SAP, Infrastructure,
Communications, Software and Consulting in the focus areas of Cyber Security, Cloud, Mobility and
Data Intelligence. With around 1,000 employees, CONET is one of the best medium-sized IT houses in
Germany. Well-known companies and organisations from industry & commerce, the public sector and
defence & public security have trusted the experts of the medium-sized group of companies since
1987. With its headquarters in Hennef, CONET has thirteen locations in Germany, Austria and Croatia.

For more information, visit https://www.conet.de/DE/conet

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 longterm prospects. For more information, visit www.ikpartners.com

IK Partners
Deekeling Arndt/AMO
Natascha Divac
Phone: +49-162-9981108
natascha.divac@deekeling-arndt.com
CONET Technologies Holding GmbH
Simon Vieth, Spokesman
Phone: +49 2242 939-246
presse@conet.de

Categories: News

Alcami Announces the Acquisition of Masy BioServices

Ampersand
Acquisition to add 375,000 ft² of cGMP Biostorage and Pharma Support Services

Alcami logo

Wilmington, North Carolina – December 15, 2021 – Alcami Corporation, a leading pharmaceutical and biotech contract development and manufacturing organization (CDMO), announced today it has completed the acquisition of Masy Systems Inc. (“Masy” or “Masy BioServices”), a preferred provider of cGMP Biostorage and pharma support services. The financial terms of the transaction were not disclosed.

“The acquisition of Masy adds complementary service offerings and further reinforces Alcami’s ambitious growth and expansion initiatives,” commented Patrick D. Walsh, Chairman and CEO of Alcami.

Masy was founded in 1984 by entrepreneurs Laurie and John Masiello and operates three cGMP Biostorage facilities in Massachusetts, all within 1-hour of Boston and Cambridge, with a fourth facility coming online in early 2022. The company offers secure and tightly controlled cGMP temperature storage from -196˚C to 70˚C, including all ICH stability conditions, for various materials including vaccines, biopharmaceuticals, cell banks, tissues, compounds, and medical devices. The company’s pharma support services include equipment calibration, large-scale validation and qualification projects, SenseAnywhere monitoring solutions, and validation and calibration equipment sales and rentals. Masy’s additional pharma support service operations are located in California, Pennsylvania, New Jersey, and North Carolina.

“We built an amazing company at Masy and are thrilled to partner with the Alcami team, as our combined resources and capabilities will result in enhanced support for our customers,” commented Masy co-founder Laurie Masiello. In addition, Steve Lane will continue in his current executive leadership role at Masy and commented, “I look forward to the successful integration and continuing to build a strong and enduring business.”

Masy clients will gain immediate access to Alcami’s comprehensive service offerings ranging from analytical development and testing to full drug product development and manufacturing, both sterile fill-finish and oral solid dose. Similarly, Alcami’s extensive client base will have access to Masy’s available and growing cGMP Biostorage capacity and extensive pharma support services.

About Alcami

Alcami is a contract development and manufacturing organization headquartered in North Carolina with over 40 years of experience advancing products through every stage of the development lifecycle. Leveraging four US-based scientific campuses, Alcami serves pharmaceutical and biotech companies of all sizes providing customizable and innovative solutions for analytical development, clinical to commercial sterile and oral solid manufacturing, packaging, microbiology, and environmental monitoring services. Alcami’s private equity ownership includes Madison Dearborn Partners and Ampersand Capital Partners. For more information, please visit alcaminow.com.

About Masy BioServices

Masy, founded by John and Laurie Masiello in 1984, has provided quality solutions to the life sciences community for nearly 40 years and meets rigorous qualifications for NVLAP accreditation to ISO 17025:2017 as well as ISO 9001:2015 certification. Services include calibration of primary standards and critical test equipment; validation and IQ/OQ/PQ of environmental chambers, autoclaves, and thermal warehouse mapping; and lab equipment rentals and sales. Masy offers premier cGMP biorepository options, with secure and tightly controlled temperature storage from -196˚C to 70˚C, including all ICH stability conditions, for various materials including vaccines, biopharmaceuticals, cell banks, tissues, compounds, and medical devices. For more information, please visit masy.com.

Media Contact

Michael Walsh
Alcami Corporation
Michael.walsh@alcaminow.com

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KKR Launches Self-Storage Investment Platform with Jonathan Perry

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the launch of a platform to invest in self-storage real estate across the United States. Industry veteran Jonathan Perry will serve as CEO of the platform, Alpha Storage Properties (ASP), and work closely with KKR’s real estate team to acquire and manage a portfolio of self-storage assets in high-growth markets and strategic infill locations across the country.

Over the past few months, prior to the launch of ASP, KKR’s real estate funds have purchased 16 self-storage assets for approximately $300 million across major growth markets, including, Austin, Atlanta, Charlotte, Denver the Inland Empire, Nashville, Orlando and Phoenix. The seed portfolio includes approximately 11,700 units or 1.2 million square-feet. The go-forward ASP platform led by Jonathan Perry will further accelerate the firm’s self-storage strategy and enhance its presence in the sector.

“We are thrilled to launch ASP under Jonathan’s leadership. His deep knowledge of the self-storage sector will help accelerate the growth of our portfolio,” said Roger Morales, KKR Partner and Head of Real Estate Acquisitions in the Americas. “Self-storage is a resilient sector that has experienced steady growth over the past 30 years and we are seeing an increase in demand resulting from the evolving relationship people have with their living space, the cost of housing and accelerated trends in net migration.”

Jonathan Perry has over two decades of experience in the self-storage industry serving in senior leadership roles for a number of leading publicly listed real estate investment trusts (REITs) and during his career had led over $4.0 billion of storage transactions.

Mr. Perry most recently served as President and Chief Investment Officer at Jernigan Capital (NYSE: JCAP), where he was responsible for overseeing all investment and asset management activities. Previously, Mr. Perry spent 10 years with CubeSmart (NYSE: CUBE), rising to the level of Chief Investment Officer where he lead all external growth initiatives including joint venture investment activity, the third party management business and acquisitions. Mr. Perry began his career at Storage USA where he worked in various finance and real estate roles for the company and its successor GE Capital Real Estate.

“I am excited to collaborate with KKR to build a leading national portfolio of self-storage real estate. I was immediately impressed by the KKR real estate team’s rigorous approach to asset selection, deep presence in fast growing Sun Belt markets and strong focus on building lasting partnerships. We are launching ASP with a high-quality seed portfolio and I believe our platform is well positioned as an aggregator, owner and operator in a fragmented market,” said Mr. Perry.

Since launching a dedicated real estate platform in 2011, KKR has grown real estate assets under management to approximately $36 billion across the U.S., Europe and Asia as of September 30, 2021. The global real estate team consists of over 135 dedicated investment professionals, spanning both the equity and credit businesses.

About KKR

KKR is a leading global investment firm that offers alternative asset management and 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 The 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
Miles Radcliffe-Trenner
(212) 750-8300
media@kkr.com

Source: KKR & Co. Inc.

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KKR Completes Acquisition of Bettcher Industries and Names Dan Daniel Chairman

KKR

NEW YORK–(BUSINESS WIRE)– Bettcher Industries (“Bettcher” or the “Company”), a leading manufacturer and supplier of food processing equipment and associated aftermarket parts and consumables, and KKR, a leading global investment firm, today announced the completion of KKR’s acquisition of Bettcher from MPE Partners.

Effective upon the transaction close, Dan Daniel, a KKR Executive Advisor, will assume the role of Chairman of Bettcher. Mr. Daniel will support Tim Swanson, CEO of Bettcher, in setting the strategic direction of the company and in overseeing Bettcher’s operating performance.

“Bettcher is a great business and an iconic brand, and I am honored to support the Company in its growth ambitions from here,” said Mr. Daniel. “Through continued growth and accretive acquisitions, we can together build Bettcher into a scaled leader in food processing automation equipment and I look forward to working alongside the Bettcher management team and KKR to do exactly that,” said Mr. Daniel.

Mr. Daniel has three decades of experience leading U.S. industrial companies, most recently serving as an Executive Vice President at Danaher from 2008 through March 2020. During his 14 years as an Executive Officer at Danaher, Mr. Daniel directly managed Danaher’s Industrial Technologies and Life Sciences portfolios until 2017, and, from 2017 until his retirement in March 2020, directly managed the company’s Diagnostics and Dental segments.

“I am excited to be partnering with KKR and Dan as they share our vision at Bettcher of driving continued innovation while providing outstanding support to our customers. Together, we will be able to build upon Bettcher’s legacy to partner with our customers in new and expanded ways,” said Mr. Swanson.

KKR will also be supporting Bettcher in implementing KKR’s broad-based employee engagement model at the Company. Since 2011, KKR’s Industrials team has focused on employee engagement as a key driver in building stronger businesses. The strategy’s cornerstone has been to allow all employees to take part in the benefits of ownership by granting them the opportunity to participate in the equity return alongside KKR. Beyond sharing ownership, KKR also supports employee engagement by investing in training across multiple functional areas and by partnering with the workforce to give back to the community.

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.

About KKR

KKR is a leading global investment firm that offers alternative asset management and 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 The 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.

For Bettcher Industries:
Bryan Hesse
(440) 204-3291
BryanHesse@bettcher.com

For KKR:
Cara Major or Julia Kosygina
(212) 750-8300
media@kkr.com

Source: KKR

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ARBOR INVESTMENTS ANNOUNCES ACQUISITION OF LARGEST NORTH AMERICAN FREEZE-DRYER, OREGON FREEZE DRY

Arbor Investment

Arbor Investments (“Arbor”), a specialized private equity firm that focuses exclusively on investing in food, beverage and related industries, announced today the acquisition of Oregon Freeze Dry (“OFD” or the “Company”) from Endeavour Capital. The transaction marks the fifth platform investment for Arbor Fund V. Terms of the transaction were not disclosed.

Founded in 1963, OFD is North America’s largest and most technologically advanced freeze-dryer of food, probiotics, enzymes, proteins, specialty ingredients, and lyophilized pharmaceutical inputs. With nearly six decades of institutional knowledge and proprietary lyophilization expertise, OFD manufactures innovative and value-added freeze-dried products for a diversified and high-growth mix of end-markets. This expertise is paired with OFD’s unmatched production scale and capabilities, including 36 freeze-drying chambers spread across four best-in-class bicoastal facilities, with nearly 550 employees. A new state-of-the-art West Coast facility is also under construction (scheduled to open mid-2022) which will further enhance the Company’s lyophilized pharmaceutical capabilities.

With a storied history that includes working with the U.S. Department of Defense to provide meals to troops and supporting NASA space missions (including products taken on every Apollo mission to the Moon), Oregon Freeze Dry is a pioneer in freeze-drying food applications that have superior flavor, long shelf-life and convenient preparation. From producing meals for the U.S. military to making products for on-the-go consumers and emergency preparedness under its own retail brand, MOUNTAIN HOUSE®, OFD has perfected the art and science of manufacturing superior tasting products that are nutrient-preserving while being clean-label and preservative-free. The Company’s Mountain House® brand, with omnichannel distribution across mass, club, eCommerce and specialty retail, is the unrivaled #1 freeze-dried brand in the adventure and outdoor meal category.

Leveraging the Company’s institutional “know-how” in technical, high-value added freeze-drying, OFD utilizes its proprietary LyoLock™ process to also produce customized critical inputs for multinational customers in the nutritional supplements, ingredients and pharmaceutical industries. OFD brings an innovative approach to designing and commercializing successful product concepts and is a key contract manufacturing partner to an enviable list of sophisticated customers.

Oregon Freeze Dry CEO Joe Folds and other senior leadership will continue to lead OFD from their headquarters in Albany, Oregon.

“For decades, Oregon Freeze Dry has set the standard of excellence in meals for consumers and the U.S. military, as well as serving as a trusted partner for our contract manufacturing customers,” said Folds. “Our ambition has always been to grow – across both new products and new capabilities – and we are excited to be partnering with Arbor, who completely shares our appetite and vision for continued ambitious growth.”

“Oregon Freeze Dry is the clear market leader for a broad range of high value-added products in thriving categories,” stated Arbor Partner Chris Tuffin. “The Company’s unmatched scale, Mountain House’s brand equity, and long-term relationships with blue-chip customers make this a compelling platform investment for Arbor.”

“The Oregon Freeze Dry team has a distinguished track record of successful new product development and is widely respected by customers and other freeze-dryers as the best in the business,” added Arbor Senior Operating Partner Tim Fallon. “With numerous opportunities to continue driving growth through innovation, new capabilities and category extensions, we look forward to partnering with Joe and the OFD leadership team to further accelerate growth.”

Winston & Strawn LLP served as Arbor’s legal counsel in connection with the transaction. Cascadia Capital served as Exclusive Financial Advisor and Stoel Rives LLP served as legal counsel to OFD.

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Indico Data CEO Tom Wilde Joins Forbes Technology Council

.406 Venture

BOSTON, Dec. 15, 2021  — Indico Data, the unstructured data company, announced today that the company’s CEO, Tom Wilde, has joined the Forbes Technology Council, an invitation-only community for world-class CIOs, CTOs, and technology executives.

Tom was selected by a review committee based on the depth and diversity of his experience. Criteria for acceptance includes a track record of successful business growth metrics, as well as personal and professional achievements and honors.

“We are honored to welcome Indico Data CEO Tom Wilde into the community,” said Scott Gerber, founder of Forbes Councils, the collective that includes Forbes Technology Council. “Our mission with Forbes Councils is to bring together proven leaders from every industry, creating a curated, social capital-driven network that helps every member grow professionally and make an even greater impact on the business world.”

As a member of the Council, Tom gains access to a variety of exclusive opportunities designed to help him reach peak professional influence. He will connect and collaborate with other respected local leaders in a private forum. Tom will also be invited to work with a professional editorial team to share his expert insights in original business articles on Forbes.com, and to contribute to published Q&A panels alongside other experts.

Finally, Tom will benefit from exclusive access to vetted business service partners, membership-branded marketing collateral, and the high-touch support of the Forbes Councils member concierge team.

“I’m proud to be a member of, and eager to contribute to, the Forbes Tech Council community,” said Tom Wilde, CEO at Indico Data. “In my short time as a member, I have already seen the dynamic and helpful interactions among experts, as we all share the common goal of bringing relevant and powerful new technologies to light for our customers.”

About Forbes Councils
Forbes Councils is a collective of invitation-only communities created in partnership with Forbes and the expert community builders who founded Young Entrepreneur Council (YEC). In Forbes Councils, exceptional business owners and leaders come together with the people and resources that can help them thrive.

For more information about Forbes Technology Council, visit forbestechcouncil.com. To learn more about Forbes Councils, visit forbescouncils.com.

For more information on the Indico Unstructured Data Platform, or to schedule a demo, please visit www.indicodata.ai.

About Indico Data
Indico Data is the unstructured data company. With its innovative AI- and ML-powered software platform, enterprises of all sizes can automate, analyze, and apply unstructured data –– documents, emails, images, videos and more –– to a wide range of enterprise workflows. The Indico Unstructured Data Platform enables companies to gain rich insight and maximize the value of their existing software investments, including RPA, CRM, ERP, and BI, by enabling these systems to work with unstructured data. Indico serves leading insurance, financial services, banking, real estate and other data-intensive enterprises, including MetLife, PNC Bank, Chatham Financial, Cushman & Wakefield and Waste Management. The company is headquartered in Boston, MA. Visit www.indicodata.ai to learn more.

Media contact:
Claudine Caruso
Guyer Group for Indico Data
indico@guyergroup.com

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PureGym raises £300m equity investment to fund expansion

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KKR

December 14, 2021

Global investment firm KKR to become significant minority investor

14 December 2021, London – PureGym, a leading European gym operator, and KKR, a leading global investment firm, today announce that KKR will make a £300m equity investment in PureGym to support and fund PureGym’s ambitious expansion plans. KKR will become a significant minority investor in the business alongside management and Leonard Green & Partners (LGP), who retain a majority ownership position.

The PureGym Group reported strong Q3 results to bond investors in November with revenue ahead of the equivalent period in 2019 and profits bouncing back robustly from the challenges of the pandemic. The PureGym brand is now fully established in 40 sites in Switzerland, in Saudi Arabia where the first of many planned franchise sites are already open and trading, and will soon be in the US in three trial sites.

PureGym believes that the conditions are now right for significant further development of the business. Combined with existing resources and credit lines, the group will have access to approaching £500m of capital after the completion of this investment from KKR, with this capital enabling continued growth through the opening of more sites both in its current markets, as well as to sustain continued international expansion over the coming years.

PureGym will also deploy significant capital to strengthen the existing gym network, and maintain and enhance its already market-leading technology platform. This will continue a trend of tech and digital investment that recently saw the PureGym in-house developed app win the prize for UK Health & Fitness App of the year. PureGym has always applied technology innovatively and intends to remain at the vanguard of the world’s technology enabled gym and fitness operators.

Humphrey Cobbold, Chief Executive Officer of PureGym, said: “We are simply delighted to welcome today an investment firm of KKR’s stature – a firm I have known and respected for many years – as our new strategic partner. To have investors of the calibre of KKR and LGP supporting our business is a testament to the extraordinary efforts of every single colleague across our enterprise. It is also an endorsement of our overall strategy which is to become one of the leading players in the rapidly developing world market for gyms, fitness and activity.

At PureGym we are driven by a clear sense of mission and purpose – “Inspiring a Healthier World” – to make activity more affordable and more accessible to millions of people. We have a clear and deliverable growth strategy to ensure we deliver on this mission. We aim to expand further and consolidate our leadership positions in the UK, Switzerland and Denmark. Beyond Europe we have established a ground-breaking franchise partnership in the Middle East, exciting early-stage discussions with potential franchise partners in Asia, three trial sites preparing for launch in the US, and an exciting digital fitness development plan. With health and wellbeing rising to the top of the global agenda we now have the capital, the capabilities, the technology and the management team to become a global fitness and activity operator.”

Blaine MacDougald, Partner and Co-Head of KKR’s Strategic Investments Group, commented: “We have followed PureGym closely over the last few years as it emerged as an outstanding performer in its sector, with an experienced management team well-positioned to take advantage of the global opportunity in health and well-being. This investment provides PureGym with flexible capital to support its growth and international expansion plans and we will draw on the full range of KKR’s global platform and operational resources to help them drive further success for the business.”

Kris Galashan, Partner at LGP, said: “Today’s capital raising represents a significant development in the company’s journey. We are delighted to be working alongside KKR, one of the world’s leading investment firms, and look forward to working with them and the management team to secure further growth and success.”

KKR’s diversified and multi-asset investment platform provides KKR with the flexibility to support ambitious companies with a suite of comprehensive, bespoke capital solutions, further enhanced by its global experience and operational capabilities. KKR has been investing across strategies in the UK since the London office opened in 1998, with a long track record of helping leading UK-based businesses grow and internationalise. KKR has invested in businesses including ERM, Citation, Viridor, John Laing, Trainline, The Hut Group, Darktrace, among others, and has a strong global focus on consumer industries, with investments in Europe including Upfield, Roompot, Wella, Alliance Boots, SMCP, among others.

Closing of the investment remains subject to the satisfaction of customary conditions.

 

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Enquiries

Media enquiries:

Sanctuary Counsel – Public Relations Adviser to PureGym

Robert Morgan / Rachel Miller / Katie O’Brien

+44 (0) 208 194 3189

press@puregym.com

Finsbury Glover Hering – Public Relations Adviser to KKR             

 +44 20 7251 3801

Alastair Elwen / Sophia Johnston

KKR-LON@fgh.com

 

About PureGym

PureGym is a leading European gym operator, with approximately 1.6 million members across 511 clubs in the UK and Europe under the Fitness World brand in Denmark and PureGym in Switzerland. PureGym was launched in the UK in 2009, where it pioneered the model for affordable, flexible, high-quality fitness clubs and is now the market leader. In the UK, members pay monthly and have no contractual commitment. Many of its gyms are open 24/7 and offer a full range of top of the line equipment, including cardiovascular equipment, fixed resistance and free weights. The group is majority owned by Leonard Green & Partners, L.P.

As at 30 September 2021, PureGym has 291 sites in the UK, 180 Fitness World clubs in Denmark and 40 Basefit clubs in Switzerland.

For more information about PureGym’s TrainSafe protocols see https://www.puregym.com/landing/trainsafe/

 

About KKR

KKR is a leading global investment firm that offers alternative asset management and 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 The 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.

About LGP

Leonard Green & Partners, L.P. (“LGP”) is a leading private equity investment firm founded in 1989 and based in Los Angeles with over $50 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 100 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, healthcare, and business services, as well as retail, distribution and industrials. For more information, please visit www.leonardgreen.com.

 

Forward-looking statements

This announcement may include forward-looking statements. All statements other than statements of historical facts included in this announcement, including those regarding PureGym’s financial position, business and acquisition strategy, plans and objectives of management for future operations are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of PureGym, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding PureGym’s present and future business strategies and the environment in which PureGym will operate in the future. Many factors could cause PureGym’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this announcement. PureGym expressly disclaims any obligations or undertaking, except as required by applicable law and applicable regulations to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in PureGym’s expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

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KKR and Synergy Acquire Two Drydock in the Seaport’s Raymond L. Flynn Marine Park from Skanska

KKR

December 14, 2021

BOSTON–(BUSINESS WIRE)– KKR, a leading global investment firm, and Skanska, a leading global development and construction firm, today announced that KKR has acquired Two Drydock from Skanska. Synergy Investments, a full-service real estate investment and operating company primarily focused on the Boston market, is participating in the investment alongside KKR and will operate the property.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211213006120/en/

Two Drydock (Credit: Skanska)Two Drydock (Credit: Skanska)

Two Drydock is a 13-story, 235,000-square-foot, Class-A, office building developed by Skanska which holds LEED® Gold and Fitwel® certifications. It features approximately 7,000 square-feet of ground-floor retail, 150 above-ground parking spaces and a 10,000-square-foot outdoor plaza.

“The Seaport is a global hub for leading technology and life science companies and we are pleased to add another great property to our Boston portfolio with the purchase of Two Drydock,” said Daniel Rudin, Managing Director at KKR. “Under the management of the great team at Synergy, this modern, highly amenitized office building is well positioned to cater to a wide range of tenants and we believe it will benefit from the sustained strong demand in the Seaport for top quality office space.”

“Two Drydock is a prime example of what modern tenants are looking for in the next-generation of buildings in Boston, and we couldn’t be prouder of what we’ve delivered to this quickly expanding area of the Seaport,” said Russell DeMartino, Executive Vice President of Skanska USA Commercial Development in Boston. “We remain highly confident in the Boston office market, and the sale of Two Drydock further confirms our belief that well-designed, high-quality office buildings are still the best tool employers can use to attract and retain world-class talent.”

“We are excited to join in this investment with KKR and expand our growing portfolio in Boston with the purchase of Two Drydock,” said Dave Greaney, Founder & Chief Executive Officer of Synergy Investments. “This best-in-class building exemplifies our commitment to the fundamental importance of office as an asset class.”

The office tenants of Two Drydock are a diverse group of pioneering companies. Lord Hobo Brewing Company and Render Coffee have entered into agreements to occupy the ground floor retail space, completing Skanska’s vision for a dynamic, open-concept lobby experience, adding value as a new asset for the surrounding community.

Located at 2 Drydock Avenue in the Seaport, the building is proximate to the MBTA’s Silver Line and is within walking distance to the ferry that connects the Seaport to North Station. Two Drydock is also easily accessible to I-90 and I-93, and is minutes from Logan International Airport.

Two Drydock, which broke ground in June 2018, represents Skanska’s sixth commercial development in Boston and fourth development in the Seaport. Skanska’s other developments in Greater Boston include 121 Seaport, a LEED Platinum elliptical tower in the city with 400,000 square feet of Class-A, flexible office space that is home to PTC and Alexion; 101 Seaport, the New England headquarters for PwC; Watermark Seaport, a 300,000-square-foot, LEED Gold residential building with ground-floor retail; The Harlo, a 17-story, 183,000-square-foot residential tower with 212 apartments and approximately 7,000-square-feet of ground-floor retail; and, 150 Second Street, a lab building in Cambridge.

Skanska has built and restored New England’s landmarks for more than 70 years, from Gillette Stadium and the Novartis Institute for Biomedical Research to the Longfellow Bridge. Skanska continues to leverage its local knowledge and global expertise to shape the region’s institutional, commercial, healthcare and life science facilities, as well as to enhance and expand essential transportation and energy infrastructure.

KKR is making the investment in Two Drydock through its KKR Real Estate Partners Americas III fund. Since launching a dedicated real estate platform in 2011, KKR has grown real estate assets under management to approximately $36 billion across the U.S., Europe and Asia as of September 30, 2021. KKR’s global real estate team consists of approximately 135 dedicated investment professionals, spanning both the equity and credit business, across twelve offices and nine countries.

Newmark represented Skanska in the transaction.

About KKR

KKR is a leading global investment firm that offers alternative asset management and 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 The 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.

About Skanska USA

Since 2009, Skanska has invested a total of USD 3.2 billion in commercial and multi-family projects, creating more than 1 million square meters of sustainable and community focused developments in select U.S. markets.

About Synergy Investments

Synergy Investments is a full service real estate investment and operating company primarily focused on the Boston market. Synergy is one of the largest and most active landlords in the city with a growing portfolio that includes 4 million square feet, providing space to more than 400 businesses and organizations. Synergy Investments focuses on commercial properties in Boston based on its belief in the long term fundamentals of the asset class and market. Its buildings have been consistently recognized as some of the best run in the city. For more information, please visit www.synergyboston.com.

For KKR:
Miles Radcliffe-Trenner, 1-212-750-8300, media@kkr.com

For Skanska:
Alicia Jones, Director Communications, Skanska USA, 1-703-835-2762
Sam Chambers, Solomon McCown & Company, 857-268-0668,
schambers@solomonmccown.com

Source: KKR

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