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Körber and KKR form strategic partnership to build a global supply chain software champion

KKR

December 14, 2021

Strategic partnership to create enhanced end-to-end capabilities for customers amid increasing supply chain complexity

 

Hamburg/Frankfurt, Germany and London, United Kingdom, 14 December 2021 – Körber, an international technology group, and KKR, a leading global investment firm, today announced that KKR has acquired a significant minority stake in Körber’s supply chain software business. This strategic partnership is expected to enable Körber’s supply chain software business to become a global leader with enhanced end-to-end solutions for customers worldwide. Financial terms of the transaction were not disclosed.

Körber’s supply chain software business is among the top three global warehouse management software providers, delivering customers with differentiated warehouse management solutions (WMS) for varying operational complexities through software, voice and robotics solutions. With over 1,300 employees, the business has grown significantly over recent years, serving a diversified mix of more than 4,200 customers in different industries across over 70 countries.

Structural trends and market forces, including e-commerce, multi-channel, and micro-fulfilment, are amplifying the need for digital solutions to handle increased volume and overcome greater supply chain complexity.

KKR will work with Körber’s supply chain software business to pursue organic and inorganic growth strategies to expand the company’s geographic footprint, accelerate the transition to SaaS, automation and robotics, as well as to develop innovative digital solutions to support customers amid increasing warehouse automation and supply chain localization.

Stephan Seifert, CEO of the Körber Group, said: “I’m excited about this strategic partnership and the tremendous business opportunities evolving out of it. It is in Körber’s DNA to identify and develop attractive growth areas. With our supply chain software offerings, we strive to have a rich end-to-end application suite that provides enhanced software solutions to our customers all around the world. With KKR we have found a great business partner to accelerate our growth for supply chain software across additional products and regions. Always with one clear vision: market leadership through technology leadership for the benefit of our customers.”

Christian Ollig, Head of KKR for DACH, and Jean-Pierre Saad, Head of Technology for Private Equity in EMEA at KKR, commented: “A seamless and highly automated supply chain is business critical for enterprises of all sizes and we see significant growth potential in this market. Körber’s supply chain software business is already one of the leading providers with excellent expertise and capabilities in WMS including robotics and voice, led by an industry-leading management team. We look forward to the strategic partnership with Körber and to leveraging our experience of growth acceleration with global software businesses, as well as partnering with management, to help Körber’s supply chain software business reach its full potential in this attractive market.”

Chad Collins, CEO Software, Körber Business Area Supply Chain, says: “The strategic partnership with KKR is a great opportunity for us and we look forward to working with them and to drawing on their vast experience and track record of investing in and scaling software businesses globally. This will allow us to significantly accelerate our growth plan to build a global champion in supply chain software.”

KKR’s investment comes from its flagship European private equity fund, KKR European Partners Fund V, which has a long track-record in strategic partnerships with founders, corporates and management teams. KKR is one of the most active investors focused on building leading global technology enterprises, with global tech investments including Cegid, Exact Software, Cloudera, Darktrace, MYOB, Onestream, Epicor, iValua, Visma, among others. Across DACH, KKR has been investing on the ground for over 20 years primarily through strategic partnership deals such as in Axel Springer, Scout24, Wella, Unzer and SoftwareOne.

The transaction is subject to customary closing conditions and regulatory approvals.

– End –

About Körber

We are Körber – an international technology group with about 10,000 employees, more than 100 locations worldwide and a common goal: We turn entrepreneurial thinking into customer success and shape the technological change. In the Business Areas Digital, Pharma, Supply Chain, Tissue and Tobacco, we offer products, solutions and services that inspire. We act fast to customer needs, we execute ideas seamlessly, and with our innovations, we create added value for our customers. In doing so, we are increasingly building on ecosystems that solve the challenges of today and tomorrow. Körber AG is the holding company of the Körber Group.

About Körber’s Business Area Supply Chain

In the Business Area Körber Supply Chain, we have a broad range of proven supply chain solutions to fit our customers’ size, business strategy and appetite for growth. Our customers conquer the complexity of the supply chain thanks to our portfolio that includes software, automation, voice solutions, robotics and material handling – plus the systems integration expertise to tie it all together. Körber helps to manage the supply chain as a competitive advantage.

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.

Further information is available at www.koerber-supplychain.com and www.koerber.com/en

 

Contact Körber:

Business media

Matthias Mezele

Senior Manager Corporate Communications

Körber AG Tel.: +49 40 211 07 364

Mob.: +49 173 75 19 148

E-Mail: matthias.mezele@koerber.de

 

Trade media

Heather Smith

Director Corporate Communications and Brand

Körber Supply Chain – Software

Tel.: +1.800.328.3271-2717

Mob.: +1.605.203.0605

E-Mail: heather.smith@koerber-supplychain.com

 

Contact KKR: Germany & Switzerland

Finsbury Glover Hering

Thea Bichmann

Tel: +49 172 13 99 761

E-Mail: kkr_germany@fgh.com

 

Finsbury Glover Hering

Emily Lagemann

Tel: +49 160 992 713 35

E-Mail: kkr_germany@fgh.com

 

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Restore Hyper Wellness Secures $140 Million Investment led by General Atlantic to Accelerate Growth and Innovation

With rapid growth in customers and locations, Restore is focused on its mission to make Hyper Wellness® accessible and affordable so people can do more of what they love to do

December 14, 2021

Restore Hyper Wellness (Restore), a leading provider of proactive wellness solutions, today announced a $140 million investment led by General Atlantic, a leading global growth equity firm. Piper Sandler & Co. served as the exclusive advisor to Restore. Restore plans to leverage the investment to help accelerate its rapid growth and deliver innovative technology to further propel the promise of Hyper Wellness®, a category pioneered by Restore.

Founded in 2015, Restore is designing an integrated wellness experience and creating proprietary protocols to improve consumers’ near and long-term health. Restore delivers expert guidance and the most extensive array of cutting-edge wellness modalities integrated under one roof. Restore’s most popular modalities include:

  • IV Drip Therapy. A modality that infuses a liter of saline with essential vitamins, nutrients, minerals and amino acids. Restore’s medical team provides guidance to customize an IV drip and help achieve health goals, whether they be boosting energy and focus or recharging the body’s defenses.
  • Whole Body Cryotherapy. A cold therapy that immerses the body in temperatures as low as -166oF for up to 3 minutes. This modality may help to optimize sleep, relieve pain and swelling, decrease stress, boost mood and energy and help heal injuries.

Restore is the largest retail provider of IV drips in the U.S. and has designed one of the best whole body cryotherapy experiences in the world through its proprietary cryotherapy chambers, available only at Restore locations.

“We believe everyone should have access to proactive health modalities that help them feel their best, so they can do more of what they love,” said Jim Donnelly, Co-Founder and CEO of Restore. “We’re defining a new healthcare experience that we describe as effective, social and transparent. Our prevention-first model (vs. the traditional sick care model) is still new to many consumers and communities. For this reason, it was important to find an investment partner that has experience helping build new categories. We are excited to partner with General Atlantic because of their strong track record of investing in category-creating brands.”

“Jim and Steve are visionary founders who have created a new comprehensive model that seamlessly integrates proactive wellness and preventative medicine,” said Shaw Joseph, Managing Director at General Atlantic. “We look forward to leveraging our experience supporting innovative, high-growth businesses as we partner with the Restore team to scale their services to populations of all kinds, from chronic pain sufferers to elite athletes.”

“The average American lifespan is 79 years, while the average American healthspan—the years we live in general good health and disease free—is only 63 years,” said Steve Welch, Restore’s Co-Founder. “That means that the last 16 years of the average American’s life is increasingly debilitated, unable to do the things they love. Through Restore’s Hyper Wellness model, customers can feel better every time they visit. Long-term, we hope to prove we can help extend our clients’ healthspans, allowing them to continue to live life to the fullest while simultaneously reducing the healthcare costs of the system.”

Restore’s footprint includes 115 predominantly franchised locations in 34 states. In 2021 alone, Restore is poised to deliver over 1.5 million services. The Restore system now employs over 2,400 people nationwide. In 2022, Restore aims to open a new store every four days, on average. Restore serves a wide range of demographics across gender, age and socioeconomic backgrounds.

In 2021, the company’s system-wide sales have grown by 158%, which follows similar year-over-year growth from 2020.

“We believe that Restore is very well positioned to capture a meaningful share of the high-growth, fragmented and underserved wellness market,” said Lexie Bartlett, Principal on General Atlantic’s Consumer team. “As consumers take a more proactive approach to managing their health and wellness, the Restore team has developed an integrated, multi-modality offering to provide new treatment solutions that can meet their diverse needs.”

Jim Donnelly continued, “The democratization of wellness is long overdue. Better outcomes and options should not be reserved solely for the affluent. We take great pride in making Restore accessible to every walk of life. In return, our avid customers have become great brand ambassadors and are providing the gift of better wellness when they bring their friends and family to Restore.”

​About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $86 billion in assets under management inclusive of all products as of September 30, 2021, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

About Restore Hyper Wellness

Launched in Austin, Texas in 2015, Restore Hyper Wellness (Restore) is the award-winning creator of an innovative new category of care—Hyper Wellness®. Restore delivers expert guidance and an extensive array of cutting-edge wellness modalities integrated under one roof. These modalities include biomarker assessments, IV drip therapy, intramuscular (IM) shots, mild hyperbaric oxygen therapy, whole body and localized cryotherapy, infrared sauna, red light therapy, compression, assisted stretching, HydraFacial and Cryoskin. Restore’s mission is to make Hyper Wellness accessible and affordable so people can do more of what they love to do.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlantic media@generalatlantic.com

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Vaaka Partners raised EUR 250 million for its new fund very quickly, bringing in new international investors

The private equity firm Vaaka Partners has raised a new EUR 250 million fund, Vaaka Partners Buyout Fund IV Ky. The fund attracted strong interest from both existing and new investors and was significantly oversubscribed in a rapid process that lasted only 11 weeks.

Vaaka Partners’ fourth buyout fund is a continuation of Vaaka’s three previous funds, through which Vaaka has supported medium-sized Finnish companies in achieving ambitious growth targets. Vaaka invests in companies that have a strong market position and significant growth potential with a controlled level of risk. Through the fourth fund, Vaaka continues partnering with similar companies in the future as well.

“We added new international investors, who will now contribute to the growth of Finnish companies. The imperative for Finland to attract international capital is to maintain its predictable and low-risk operating environment also in the future,” says Juha Peltola, the Managing Partner of Vaaka Partners.

“We had the pleasure of choosing for the new fund, for example, Alfred I. DuPont Charitable Trust, the US non-profit foundation with a very special mission as an investor,” Peltola continues.

The Trust, through its beneficiary the Nemours Foundation, is one of the largest institutions in the United States focused exclusively on pediatric healthcare. Hospitals funded by the charitable foundation treat half a million children in need of care each year, regardless of their ability to pay.

“As a long-time investor in global private markets, we seek long-term partnerships with high-integrity teams investing in and growing small businesses globally. We were first introduced to Vaaka Partners in 2016 and have developed a deep admiration of the team’s investment judgment and ability to find and partner with management to build great businesses in Finland and beyond. In addition to finding a high-caliber, high-integrity team in Vaaka Partners, we have found Finland to be an attractive investment environment due to the favorable business climate and depth of intellectual and managerial talent. We couldn’t be more excited to partner with Vaaka on their journey to building Finland’s next great business champions,” says Sean Kelly, Associate Director of Investment Operations of Alfred I. DuPont Charitable Trust.

Active and constructive collaboration creates growth

Together with the operating management of its portfolio companies and entrepreneurs, Vaaka Partners has, on average, more than tripled the revenue of its portfolio companies during its period of ownership. Half of the portfolio companies’ growth has come through organic growth, in addition to which they have grown by implementing and integrating more than 100 strategy-supporting acquisitions. Behind the growth is a model of active and constructive collaboration.

Artti Aurasmaa, the recently nominated CEO of Vaaka portfolio company Staria Oyj, describes collaboration as follows:

“The co-operation has started extremely well and upbeat: the atmosphere is goal-oriented, but at the same time human in the right way, as people are the source of creative growth even in the digitalizing world. Vaaka’s approach has opened up new angles for my thinking about growth, the most important of which is the ability to combine mutual respect and extreme goal-orientation particularly well,” says Aurasmaa.

Founder of another current Vaaka portfolio company, Jungle Juice Bar, Noora Fagerström describes the importance of Vaaka for herself and the company:

“From a personal perspective, the most important thing has been having someone sharing the financial risk. From the company’s perspective, moving forward. Almost everything has been developed and the company has grown into a major player in the industry.”

Collaboration is one of Vaaka’s core values.

“We are not a passive investor; we bring our portfolio companies new know-how and previous experience in, for example, internationalization or growth through acquisitions,” Peltola explains.

The role of Vaaka Partners has also been significant in the internationalization of Framery, with origins in Tampere.

“Vaaka has provided the grounds for rapid development for both me and the company. When the board and the management team get the best expertise in the whole world instead of just the best in the province, things start to happen. We would certainly have succeeded without Vaaka’s involvement, but with Vaaka we have made the same development in three years as we would have done in ten alone,” explains Samu Hällfors, CEO of Framery.

“The creation of significant profitable growth has also led to high returns with a controlled risk profile, which the companies’ key employees have been able to enjoy together with the funds’ investors,” Peltola continues.

—

Vaaka Partners is an ambitious private equity company that helps medium-sized Finnish companies to become business champions. Current Vaaka champions are e.g. AINS Group, Staria, Framery and Jungle Juice Bar. With its fourth buyout fund, the company is responsible for over EUR 0.6 billion of private equity funds. To realize new growth opportunities, Vaaka’s approach combines strategic and operational expertise with trust-based collaboration. The largest investors in Vaaka funds are leading pension funds.

www.vaakapartners.fi/en

More information:
Juha Peltola, CEO
Vaaka Partners
tel. +358 50 514 8401

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Transflo and True Wind Capital announce significant new equity investment from Bregal Sagemount

Truewind

New investment provides leading software company for the supply chain and transportation sectors with significant additional resources to drive growth

NEW YORK & SAN FRANCISCO, December 14, 2021 – Transflo, a leading provider of mobile business intelligence and payments facilitation tools to the transportation sector, today announced a significant new equity investment. Together with True Wind Capital (“True Wind”), a San Francisco-based private equity firm focused on investing in leading technology companies, Transflo welcomes Bregal Sagemount (“Sagemount”), a global private equity firm that specializes in backing growing companies to the Board and investor base. Carousel Capital, Transflo’s first institutional investor, remains a significant minority investor. Financial terms of the transaction were not disclosed.

Headquartered in Tampa, Florida, Transflo’s cloud‐based technologies digitize nearly 800 million shipping documents each year with over $100 billion in freight spend flowing over the Transflo rails. Transflo is the only customizable, open, and secure digital ecosystem that offers complete visibility, all-in-one driver tools, document management, and two-way communications to increase efficiency across the logistics arena.

Philip Yates, a Founding Partner of Sagemount, said, “We are thrilled to partner with the management team and investor base at Transflo. We believe that Transflo is poised to expand its position as a leading cloud-based business intelligence and payments engine in the transportation sector. The company occupies valuable real estate at the point of load consummation that continues to enhance velocity, accuracy and compliance in the payments flows for carriers, brokers and shippers. We look forward to accelerating Transflo’s product innovation and pursuing strategic acquisitions with this new funding.”

Aaron Matto, Partner of True Wind, said, “As the transportation and supply chain sectors continue to evolve amid this dynamic environment, we are excited to welcome Sagemount as a significant investor in Transflo to accelerate the company’s strategic growth objectives. Since True Wind’s initial investment in 2017, Transflo has built on its leadership position in the industry by delivering real-time communications to thousands of fleets, brokers, and commercial vehicle drivers while driving increased efficiency, improved cash flow, and reduced costs for its clients. We look forward to partnering with Sagemount and Transflo’s leadership team to drive further value creation.”

“At Transflo, we strive to drive better business results for our clients through technology and innovation,” said Frank Adelman, Chief Executive Officer of Transflo. “We are thrilled to have the support of best-in-class technology investors such as Sagemount and True Wind as we continue building our integrated software platform that enables transportation and supply chain businesses to improve velocity in the workflow and speed of payment.”
Transflo has continued to make significant enhancements to its software product suite. Over the past several months, the company announced the release of the latest iteration of its driver-focused workflow app, Transflo Mobile+ 5.0, and introduced Transflo Intelligent Automation, a suite of document automation services that provide carriers, freight brokers, factoring providers, shippers and freight auditors powerful new tools to manage and process load related documents.

Harris Williams served as financial advisor to Transflo. Simpson Thacher & Bartlett served as legal advisor to True Wind Capital. K&L Gates acted as legal counsel to Carousel Capital. Goodwin Procter served as legal advisor to Bregal Sagemount.

About Bregal Sagemount
Bregal Sagemount is a growth focused private capital firm with $4.0 billion of committed capital. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $40 million to $200 million per transaction into targeted sectors including software, digital infrastructure, healthcare IT / services, business and consumer services, and financial technology / specialty finance. For more information, please visit www.sagemount.com.

About True Wind Capital
True Wind Capital is a San Francisco-based private equity firm focused on investing in leading technology companies. True Wind has a broad investing mandate, with deep industry expertise across software, data analytics, tech-enabled services, internet, financial technology, and hardware. Founded in 2015, True Wind has completed 10 platform investments and 20 add-on acquisitions. For more information, please visit www.truewindcapital.com.

About Transflo
Transflo®, a Pegasus TransTech company, is a leading provider of mobile, business intelligence and payments facilitation software to the transportation industry. The company’s cloud‐based technologies digitize nearly 800 million shipping documents each year with over $100 billion in freight spend flowing over the Transflo rails. Organizations throughout the Transflo client and partner network use the solution suite and digital platforms to increase efficiency, improve cash flow, and reduce costs. Headquartered in Tampa, Florida, USA, Transflo is setting the pace for innovation in transportation software. For more information, visit www.transflo.com.

Media Contacts:
For Bregal Sagemount:
Michelle Riley
(212) 704-3050

For True Wind Capital:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co.
(212) 257-4170

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H.I.G. Europe Completes the Acquisition of Standard Hidraulica

H.I.G. Europe

MADRID – December 14, 2021 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $45 billion of equity capital under management, announced that one of its affiliates acquired Standard Hidraulica (“STH” or the “Company”), an international industrial group with a leading presence in the plumbing supplies category, previously part of industrial technology company Aalberts N.V. which is listed at the Euronext stock exchange in Amsterdam, the Netherlands. H.I.G. plans to accelerate the Company’s growth and lead a consolidation in its core markets.

STH is headquartered in Montcada i Reixac (Barcelona, Spain), and operates subsidiaries in Pinto (Madrid, Spain), United Kingdom (Leigh, Greater Manchester), South Africa (Johannesburg, Port Elizabeth and Cape Town), and Greece (Acharnes, Athens).

Jaime Bergel, Managing Director of H.I.G. Spain, said: “We are committed to supporting the senior leadership team of STH in achieving their ambitious business plan which should translate in substantial growth over the coming years. As part of the transaction, H.I.G. will support STH in its transition to an independent company while accelerating its customer-focused expansion in the local and international markets.”

Jaume Llacuna, CEO of STH said: “The investment by H.I.G. is great news for STH and its stakeholders. STH is recognised as one of the market leaders across many of our businesses and the categories that we operate in. I am very excited to work with the team at H.I.G. to capitalise on the enormous potential for growth we have within our local and international geographies. We are well positioned to push forward with our plans for organic and inorganic growth. Our collective commitment, energy and passion will be at the heart of our future success. Together with H.I.G., we look forward to building an even stronger business in the coming years.”

About Standard Hidraulica
STH was founded in 1975 in Montcada i Reixac (Barcelona). With a philosophy based on product quality, customer service, constant technological research and respect for the environment, STH has become a reference partner in the water and gas connection and control, kitchen and bathroom taps in both residential and non-residential areas, and civil works such as water and gas distribution networks. STH is certified with ISO 9001 and ISO 14001. For more information, please refer to the STH website: https://www.standardhidraulica.com.

About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with over $45 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
  4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

H.I.G. European Capital Partners Spain is a legally independent advisor to H.I.G. Capital LLC, H.I.G. Europe Capital Partners, L.P., H.I.G. Europe Capital Partners II, L.P. and H.I.G. Europe Capital Partners III, L.P.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

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Philips acquires Gilde portfolio company Vesper Medical to further expand its image-guided therapy devices portfolio

GIlde Healthcare
December 14, 2021
Amsterdam & Utrecht (the Netherlands)

Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, today announced that it has signed an agreement to acquire Vesper Medical Inc., a US-based medical technology company that develops minimally-invasive peripheral vascular devices. Vesper Medical, a portfolio company of Gilde Healthcare, will further expand Philips’ portfolio of diagnostic and therapeutic devices with an advanced venous stent portfolio for the treatment of deep venous disease. The transaction, which is subject to customary closing conditions, is expected to be completed in the first quarter of 2022. Financial details of the transaction were not disclosed.

Complementing Philips’ strong intravascular ultrasound (IVUS) offering in venous imaging, Vesper Medical will add a venous stenting solution to address the root cause of chronic deep venous disease (DVD). The Vesper DUO Venous Stent System® consists of venous stents intended to treat deep venous obstruction. Uniquely engineered to address the multiple anatomical challenges of the deep venous system, it provides physicians with a modular portfolio to customize therapy, restore venous flow, and resolve the painful symptoms of deep venous disease for the broad range of patients suffering from chronic venous insufficiency.

The acquisition of Vesper Medical is another step in our objective to innovate patient treatment with more sophisticated technology and expand our growth in the vascular therapy space.

Chris Landon, Senior Vice President and General Manager Image Guided Therapy Devices at Philips:
“The acquisition of Vesper Medical is another step in our objective to innovate patient treatment with more sophisticated technology and expand our growth in the vascular therapy space,” said Chris Landon, Senior Vice President and General Manager Image Guided Therapy Devices at Philips. “Leveraging our significant procedural expertise, we see strong clinical synergies between Vesper Medical’s innovative stenting solution and our existing peripheral vascular offering. This combined offering will help to better support clinicians to decide, guide, treat and confirm during the procedure, thereby enhancing patient care.”

“I am proud that Philips will become the home for our innovations and our people, joining forces to shape the future of treating deep venous disease,” said Bruce Shook, President and CEO of Vesper Medical. “I look forward to further advance our next generation venous technology and bring it to patients and clinicians globally, together with Philips.”

Vesper Medical was founded in 2016 and is headquartered in Wayne, Pennsylvania, US. Upon completion of the transaction, Vesper Medical and approximately 20 of its employees will become part of Philips’ Image-Guided Therapy business.

About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor with two fund strategies: Venture&Growth and Private Equity. The firm operates out of offices in Utrecht (The Netherlands), Frankfurt (Germany) and Cambridge (United States). Gilde Healthcare Venture&Growth invests in fast growing, innovative companies active in (bio)pharmaceuticals, healthtech and medtech that are based in Europe and North America. For more information, please visit: www.gildehealthcare.com.

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CREtelligent secures $10 million credit facility from Espresso Capital

espresso capital

Sacramento, Calif. — December 14, 2021 — Espresso Capital announced today that it has provided CREtelligent, a one-stop commercial real estate (CRE) due diligence platform, with a $10 million credit facility. The company will use the capital to extend its runway and make strategic investments in its ongoing growth.

“Our RADIUS platform and CRE due diligence services have been embraced by the marketplace, putting us in hyper growth mode,” said Anthony Romano, CEO of CREtelligent. “So far this year, we’ve added over 175 clients and have completed three acquisitions with more on the horizon. The facility from Espresso ensures we can continue to run the play as we prepare for a larger equity raise in the spring.”

CREtelligent has grown its business by over 300 percent so far this year, adding 4,000 new users to its RADIUS platform as well as 40 new team members.

“The CREtelligent team has built a differentiated, cloud-based platform that simplifies the CRE due diligence process by enabling customers to order, check the status of, receive, and archive all property due diligence reports in one spot,” said Espresso Managing Director, Will Hutchins.  “They have a high-quality product that their customers love and a seasoned management team with an expansive network, extensive industry experience, and a strong reputation for fantastic customer service.”

“Espresso’s team did an extraordinary job of understanding our market, company, and business plan,” noted Romano. “They moved expeditiously to get the facility in place so we didn’t miss a beat.”

“Anthony and the CREtelligent team have built a phenomenal business that is entering its next stage of growth,” said Lokesh Sikaria, Founder and Managing Partner, Moneta Ventures. “Their ability to postpone a large dilutive equity raise by tapping into Espresso Capital’s innovative financing facility will result in significantly increased value for all shareholders. We’re fortunate to partner with Espresso and CREtelligent.”

About CREtelligent

CREtelligent opened its doors more than six-years-ago as eScreenLogic, a Commercial Real Estate (CRE) environmental due diligence firm focused on desktop RSRA, Phase I, and Phase II site assessments and reporting for commercial lenders, insurance companies, and brokers. The company has grown quickly and market demand for a “one-stop” CRE due diligence platform that offers more than environmental expertise for lenders and corporate entities has become clear. As a result, we’ve expanded to offer not only our full-service Environmental reporting but Valuation, Flood, Full Portfolio Asset Risk Monitoring and a number of other “Platform-as-a-Service” offerings too.

Commercial Real Estate Due Diligence, Simplified isn’t just a tagline, it’s become our product development mantra. We are building the tools that you need to face the new markets we all find ourselves in today. This unique innovation-based approach e

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Equistone bolsters portfolio during pandemic with over 40 bolt-on deals

Equistone

Equistone Partners Europe (“Equistone”), one of Europe’s leading mid-market private equity firms, is pleased to announce that it has supported 41 add-ons across its portfolio since the onset of the COVID-19 pandemic in March 2020. This constituted one of the busiest periods of buy-and-build activity in Equistone’s history, providing another avenue for productively deploying capital and creating value amid uniquely challenging market conditions and exemplifying the attractiveness of private-equity-backed platforms to entrepreneurs and management teams.

Equistone’s active pipeline of bolt-on deals was enabled by its extensive local origination capabilities across its seven offices in five European countries. These 41 transactions entailed 13 acquisitions by companies headquartered in the UK, including three in the space of a month by WHP Telecoms that helped double both the business’s headcount and revenue since Equistone’s initial investment. Both residential property management company FirstPort and technology-led marketing business Team ITG completed multiple add-ons as well.

Equistone also supported 19 bolt-ons by portfolio companies based in France (including online office equipment retailer Bruneau’s acquisitions of Viking Spain and Office Depot Italy), eight by those in in the Benelux region (including five by Amadys, a provider of passive network equipment solutions) and one in Germany, namely RENA Technologies’ add-on of Hirtenberger Engineered Surfaces. The investment team’s experience of executing transactions in foreign markets was instrumental in over a quarter of these deals being cross-border acquisitions.

Commenting on this activity, Steve O’Hare, Senior Partner and UK Country Head at Equistone, said: “We’ve worked extremely closely with our portfolio companies over the past 21 months to help them tackle the operational and financial challenges presented by the pandemic. But after the initial shock, this has also been a period of significant potential opportunity. A well-capitalised mid-market company with a supportive private equity backer is incredibly well positioned to acquisitively grow its market share in a time of disruption, particularly when valuations have dipped in certain sectors. We’re pleased that we have been able to support so many of our investee businesses in consolidating their markets, adding on new capabilities and accelerating their strategic growth plans.”

Dominic Geer, Senior Partner at Equistone, added: “The challenges posed by the pandemic have also demonstrated the value of private equity backing to privately owned, mid-sized businesses. Covid has starkly illustrated the risk posed by future, equally unforeseeable economic downturns. This can be significantly mitigated by the access to capital, increased scale and operational support that comes with being part of a company with a private equity backer. That was undoubtedly an important factor in motivating management teams to explore sales to sponsor-backed platforms like our portfolio companies, even when their earnings weren’t directly affected by Covid.”

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Carlyle Raises Nearly $8 Billion for Ninth U.S. Real Estate Fund

Washington, DC – Global investment firm Carlyle (NASDAQ: CG) today announced that it has raised approximately $8 billion for its ninth U.S. real estate opportunity fund, Carlyle Realty Partners IX (CRP IX), exceeding its $6 billion initial target. CRP IX will seek to continue Carlyle Realty’s established investment strategy focused on opportunistic U.S. real estate. Carlyle Realty Partners VIII (CRP VIII), its predecessor, raised $5.5 billion in commitments in 2018.

Robert Stuckey, Managing Director and head of Carlyle’s U.S. Real Estate team, said, “We are sincerely appreciative of the confidence and support of our limited partners and the strength and pace of investor commitments. Significant investor demand is a testament to the caliber of our team and the opportunity we see for compelling property investments across select markets. With the successful closing of CRP IX, we are well positioned to continue to execute on our strategy of investing behind demographic-related themes, avoiding exposure to cyclical risk, and identifying deep and growing pools of demand.”

The Carlyle Realty Partners team comprises nearly 100 professionals, with a 20-year average tenure among its senior leadership team. Today, the team is actively investing in sectors where supply and demand dynamics are viewed favorably; including residential, industrial, life science, and self-storage, among others.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

 

Media Contact:

Brittany Berliner
(212) 813-4839
brittany.berliner@carlyle.com

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Charlesbank Capital Partners Acquires BOX Partners

Charlesbank

Charlesbank Capital Partners announced today that it has acquired BOX Partners (“BOX” or the “Company”), a leading technology-enabled supplier of packaging, shipping, industrial supplies and related products for the e-commerce and distribution markets. Family-owned since its 1989 inception, the Company has grown to one of the country’s largest wholesalers of packaging products. Headquartered in Elgin, Illinois, the Company has approximately 400 employees. The transaction, which was funded with both equity and debt, introduces the first outside equity for the company.

BOX competes in the $70 billion packaging and shipping supplies end-market. The Company partners with distributors, offering them broad product selection, distribution expertise and marketing tools to compete with even the largest competitors in the industry. The Company is distinguished by its ability to aggregate and efficiently fulfill millions of orders on behalf of its distributor partners, providing access to over 1,000,000 square feet of virtual warehouse space with over 20,000 items. BOX operates nationwide out of its warehouse in Illinois.

In conjunction with the transaction, BOX’s Co-founder and President will step down, and Neil Thomas will become the new CEO. Mr. Thomas is well-known to Charlesbank from his prior role as CEO of Trojan Battery, a family-founded business that Charlesbank owned from 2013-2018.  Other members of the current leadership team will remain in their current roles.

Mr. Thomas said, “I’m very pleased to join BOX at this exciting time. The Company is well-positioned to expand in new product categories and geographies and to optimize and broaden its use of e-commerce platforms. I look forward to leveraging my experience to help this talented management team continue to excel and strengthen its industry presence.”

Added Brandon White, Charlesbank Managing Director, “BOX is a well-respected brand in the packaging industry with a strong competitive position and a firm commitment to excellent quality and service. We are excited to partner again with Neil, who brings strong leadership skills and an impressive track record in building value across multiple brands and businesses.”

Mesirow served as financial advisor to BOX Partners on the transaction.

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