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Baird Capital Announces Sale of Portfolio Company Crisp

Baird Capital

LONDON–1 June 2022– Baird Capital announced today the sale of private equity portfolio company Crisp Thinking Group (“Crisp”) to Kroll, Inc. (“Kroll”). The transaction represents a full exit from this investment for Baird Capital. The terms of the transaction were not disclosed.

Crisp is a Real-time Risk Intelligence company that protects brands, assets and people from reputational damage, security threats and online harms. Crisp is headquartered in Leeds, England, with significant sales generated from an established client base in the United States. The company also has an office in Chicago.

Kroll (formerly known as Duff & Phelps), headquartered in New York City, is focused on delivering solutions to its customers focused on data, technology and insights for risk, governance, and growth, making Crisp an excellent strategic fit with the platform. The acquisition will expand Kroll’s digital services capabilities with AI technology trained to discover and track the risk signals embedded within digital chatter.

Baird Capital invested in Crisp in 2018, providing capital and resources to support the company’s rapid growth. In the period since the investment, annual recurring revenue has grown by more than 250% and the business has opened and built out a substantial presence in the United States. Crisp’s headcount has grown to over 250 people, and the company currently helps protect more than $6.5 trillion of aggregate market capital for its customers.

Michael Holgate, Partner with Baird Capital, commented, “Crisp is a trailblazer in real-time risk intelligence. Whilst their growth over the past three years has been tremendous, they have only scratched the surface of the available market. This transaction shows real confidence in the business, and we look forward to watching the company continue to grow as part of the Kroll group.”

Andrew Ferguson, Partner with Baird Capital commented, “We are so pleased that Baird Capital could assist Crisp in bridging the gap between their U.S. and U.K. markets. This is the beauty of Baird Capital’s global team; we believe our global footprint combined with our significant investment experience and operating focus positions us well to assist lower-middle market companies in navigating challenges and taking advantage of globalization opportunities. Crisp has a bright future ahead with the support from Kroll.”

Andrew Burke, Executive Chairman at Crisp, added, “We are grateful to Baird Capital for helping us to achieve this important milestone in our business. Digital chatter is an essential source of risk intelligence for protecting the global enterprise. In recent years, risks originating from or becoming amplified by digital chatter across the open, deep and dark web have reached an unprecedented scale. It’s now a board-level issue and C-suite responsibility. With their support we succeeded in establishing Crisp as the leading expert in fast, actionable risk intelligence.”

Lazard acted as sole financial advisor to Baird Capital and Crisp in connection with the transaction. DWF acted as legal advisor. For more information, visit Baird Capital’s website.

About Baird Capital

Baird Capital manages two investment platforms: Global Private Equity and U.S. Venture Capital and makes investments in B2B technology & services-focused companies around the world. Having invested in 335 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in the United States, Europe and Asia, a proactive portfolio operations team and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit BairdCapital.com.

Baird Capital Partners Europe Limited is authorised and regulated in the United Kingdom by the Financial Conduct Authority.

About Kroll

Kroll provides proprietary data, technology and insights to help our clients stay ahead of complex demands related to risk, governance and growth. Our solutions deliver a powerful competitive advantage, enabling faster, smarter and more sustainable decisions. With 5,000 experts around the world, we create value and impact for our clients and communities. To learn more, visit www.kroll.com.

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Advent International and LANXESS establish a leading global joint venture for high-performance engineering polymers with combined sales of around EUR 3 billion

Advent International
  • Advent and LANXESS to acquire the Engineering Materials business from DSM for an Enterprise Value of EUR 3.7 billion.
  • LANXESS transfers High-Performance Materials business into joint venture.
  • Advent Managing Partner Ronald Ayles: “Together we plan to bring the experience, deep sector know-how, and financial resources to make the joint venture a global success story for everyone involved.”
  • New joint venture provides pioneering product portfolio and integrated value chain.

Frankfurt, May 31, 2022 – Advent International (“Advent”), one of the largest and most experienced global private equity investors with a well-established track record in Chemicals investing, and specialty chemicals company LANXESS are establishing a joint venture for engineering and high-performance polymers. The two companies today signed an agreement to acquire the DSM Engineering Materials business (DEM) from Dutch group Royal DSM, which will become part of the new joint venture. The Enterprise Value is around EUR 3.7 billion and will be financed by the joint venture via equity from Advent and external debt. The business represents sales of around EUR 1.5 billion with an EBITDA margin of approximately 20 percent. DEM is one of the leading global suppliers in high-performance specialty materials that address key market needs in electronics, electrical and consumer goods.

In addition, LANXESS is combining its High Performance Materials (HPM) business unit with DEM. HPM is one of the leading suppliers of engineering and high-performance polymers, which are used primarily in the automotive industry. The business represents annual sales of around EUR 1.6 billion with EBITDA pre exceptionals of around EUR 200 million.

The combined company will have sales of about EUR 3 billion. The transaction is still subject to approval by the authorities. Closing is expected in the first half of 2023. Advent will hold at least 60 percent in the joint venture, LANXESS a stake of up to 40 percent.

Ronald Ayles, Managing Partner at Advent International said: “Joining forces with LANXESS in this industry transforming transaction is a highlight for Advent as we have built a trusted, longstanding relationship and share the highest mutual respect. Together we plan to bring the experience, deep sector know-how, and financial resources to make the joint venture a global success story for everyone involved. The combination of LANXESS’ High-Performance Materials (HPM) and DSM Engineering Materials (DEM) creates a strong platform and brings together extensive expertise, resulting in the best opportunities for employees and more value for customers.”

LANXESS CEO Matthias Zachert added: “LANXESS will once again become significantly less dependent on economic fluctuations. In addition, we as LANXESS will strengthen our balance sheet with the proceeds from the transaction and gain new scope for the further development of our Group. With the new joint venture, we are forging a strong global player in the field of high-performance polymers. The portfolios, value chains and global positioning of the two businesses complement each other perfectly. With its innovative products, the joint venture will be able to play a key role in shaping future developments – for example in the field of electromobility. In Advent, we have a strong and reliable partner with profound experience in the chemical industry and our customer industries.”

Global set-up and high backward integration
Advent International will be the majority owner of the newly created joint venture and has extensive investment experience in the global chemical sector with a proven track record in transforming companies from corporate carve-outs into industry-leading players. Advent also fosters the growth and market position of portfolio companies through further acquisitions and organic investments.

DSM’s Engineering Materials business comprises polyamides (PA6, PA66) as well as various specialty materials (PA46, PA410 and specialty polyesters as well as PPS). Around 2,000 employees work for the division at 9 production and 7 research sites in all relevant markets worldwide. In addition to Europe and the US, the business has a particularly strong presence in Asia.

LANXESS’ High Performance Materials (HPM) business unit is one of the leading producers of PA6 and PBT engineering polymers and thermoplastic fiber composites. A total of 2,000 employees at 10 production and 7 research sites worldwide work for HPM. The global production network is characterized by a high degree of backward integration. The backbone is the Antwerp/Belgium site. There, HPM produces not only PA6 polymers but also relevant precursors such as cyclohexanol, cyclohexanone, caprolactam and glass fibers.

Sustainable product portfolio
Both DEM and HPM are pioneers in sustainability, offering bio- and recycled-based alternatives across their product portfolios.

For example, LANXESS recently launched a new high-performance polymer that is made from 92 percent sustainable raw materials. In producing the polymer, LANXESS uses “green” cyclohexane from sustainable sources such as rapeseed oil or other biomass as a raw material. It is reinforced with 60 percent by weight glass fibers recycled from industrial glass waste.

Advent International is committed to partnering with portfolio companies, leveraging collective expertise, to enact more sustainable long-term growth. In the joint venture, the partners will continue to focus on ESG management while committing to creating a more sustainable future.

Future-oriented applications
The automotive industry is a focus for the new joint venture. There, the polymers are used, among other things, for lightweight elements in structural parts but also in the interior and often replace metal parts. In this way, weight can be saved and CO2 emissions reduced. An important growth area is electromobility. Here, polymers are used, for example, in the construction of battery and charging systems, electronic control systems and power electronics.

In addition, the materials are used in the electrical and electronics industry, for example in components for smartphones, IT and household appliances.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 390 private equity investments across 41 countries, and as of December 31, 2021, had $88 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 265 private equity investment professionals across Europe, North America, Latin America and Asia. The firm focuses on investments in five core sectors, including industrial & chemicals, business and financial services; technology; health care and retail, consumer and leisure. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

Advent has invested in over 30 companies in the chemicals industry over recent years. Examples include Caldic, a globally leading specialty chemicals distributor, Röhm, one of the global market leaders in methacrylate chemicals, allnex, a global leader in resins for the paints and coatings industry, Oxea, a leading supplier of oxo alcohols and oxo derivatives, and VIAKEM, a leading manufacturer of fine chemicals.

Advent’s approach is to provide significant support to management teams by assisting with operating resources and expertise from its Portfolio Support Group and third-party Operating Partner program.

Media contacts

Finsbury Glover Hering
Olaf Zapke
Tel +49 170 764 1971
olaf.zapke@fgh.com

Markus Stoker
Tel +49 162 245 3946
markus.stoker@fgh.com

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VADE lands $30 million in new funding round

Isai

Latest investment from Tikehau Ace Capital, Bpifrance and Auriga Partners will propel a new chapter of company growth.

San Francisco, Calif. May 31 – Vade, an international pioneer in threat detection and response that already monitors one billion email messages worldwide, has announced that it has raised €28 million (~$30 million) from Tikehau Ace Capital, the French government, through French Tech Souveraineté, which is part of France 2030, led by the General Secretariat for Investment and operated by Bpifrance, and Auriga Partners. The company intends to proceed with a new, more substantial round of financing in the coming months.

“We invested in Vade because we believe that Managed Service Providers (MSPs) and Managed Security Service Providers (MSSPs) need to have technology that can easily and effectively neutralize the latest threats,” said Francois Lavaste, Executive Director at Tikehau Ace Capital. “We welcome the sustained pace at which Vade continues to grow and have full confidence in Georges Lotigier and his team. We are confident in their ability to meet and exceed their clients’ expectations.”

The latest round of funding will further accelerate Vade’s international expansion and provide additional investment to enhance its already industry leading cybersecurity products for Internet Service Providers (ISPs), MSPs and small and medium businesses. The company also plans to put increased emphasis on developing MSSP-tailored solutions with simple, rapid installation and high efficiency.

“Demand for our products, especially in the MSP market, has been overwhelming. This latest round of funding will help us quickly onboard more channel partners in key markets like North America and Europe,” said Maya Gershon, Chief Revenue Officer at Vade.

Between remote work prompted by COVID and the conflict between Russia and Ukraine, the new investment arrives in the midst of increased stakes for business communications that need to stay secure both internally and externally. In fact, a report by Market Research Future (MRFR) projects that the email security market will be worth $6.8 billion by 2025.

Vade has become a global cybersecurity SaaS leader, recognized by G2 as a leader in email security and cloud email security. The company has experienced over 100% growth in its flagship product, Vade for M365, an email security product that is purpose built for MSPs. The company has also grown to almost 200 employees and anticipates growing its staffing by another 80 employees by the end of this calendar year.

“Vade has experienced tremendous growth and with remote work becoming commonplace, even after the pandemic, cybersecurity is at the top of most companies’ priority list,” said Georges Lotigier, CEO of Vade. “We have built a highly profitable company in a competitive market, largely due to our constant innovation and anticipating the unexpected. This latest funding round will help us realize our ambitious plans to significantly grow in markets like North America and Asia.”

“The fight against cyber threats is a strong strategic challenge that Vade has mastered. This operation must now allow to accelerate the protection of companies and citizens, increasingly targeted in the current context. This is why Bpifrance supports this operation”, adds Emmanuel Audouard from Bpifrance.

“We were attracted by the extreme quality of the team, which has been able to implement a strategy over the past few years that has enabled it to deploy a highly effective business model combining strong growth and profitability. We are convinced that Vade has all the fundamentals to become a world-class player,” said Jacques Chatain, CEO at Auriga Partners.

About Vade

Vade is a global cybersecurity company specializing in the development of threat detection and response technology with artificial intelligence. Vade’s products and solutions protect consumers, businesses, and organizations from email-borne cyberattacks, including malware/ransomware, spear phishing/business email compromise, and phishing. Founded in 2009, Vade protects more than 1 billion corporate and consumer mailboxes and serves the ISP, SMB, and MSP markets with award-winning products and solutions that help increase cybersecurity and maximize IT efficiency.
To learn more, please visit www.vadesecure.com or LinkedIn https://www.linkedin.com/company/vade-secure/.

Media Contact

Merritt Group for Vade :
Ashley Long long@merrittgrp.com

Bpifrance :
Nathalie Police – Nathalie.police@bpifrance.fr – + 33 1 41 79 95 26

France 2030 et le SGPI :
Marion Dos Reis Silva : presse.sgpi@pm.gouv.fr +33 1 42 75 64 58

Tikehau Ace Capital:
Audrey Hood – ahood@tikehau-ace.capital – +33 1 73 313 010
Image 7 : Florence Coupry fcoupry@image7.fr / Juliette Mouraret jmouraret@image7.fr – +33 1 53 70 74 70 / Charlotte Le Barbier clebarbier@image7.fr – +33 6 78 37 27 6

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WCG Appoints New Chief Financial and Administrative Officer and Chief Technology Officer

Princetown, N.J., PRNewswire/ — WCG, the world’s leading provider of solutions that measurably improve the quality and efficiency of clinical research, today announced it has appointed Robert VanHees as Chief Financial and Administrative Officer and Paul Mancinelli, PhD, as Chief Technology Officer.

In his role as CFO and CAO, VanHees will lead all WCG global financial and administrative operations. VanHees joins WCG May 31 from ProQuest, a global leader in education technology, where he served as President and Chief Financial Officer. Prior to ProQuest, VanHees was Managing Director/Operating Partner at JLL Partners and held executive leadership positions at Learning Care Group and Corporate Express North America and Europe. He succeeds Laurie Jackson upon her retirement, who has been an essential part of WCG’s growth and success.

As WCG’s CTO, Paul Mancinelli will lead technology overall, including infrastructure, software engineering, and application development of WCG’s leading technology and solutions platform. Mancinelli joins WCG on June 6 from Evernorth, a subsidiary of Cigna, as their Chief Data and Analytics Engineering Officer. Mancinelli brings more than 25 years of experience in both financial services and the healthcare industry with extensive experience designing large-scale software systems, building enterprise-scale data and analytics products and services, and leading global technology organizations like Cigna, CoreOne Technologies, and Bloomberg. He will succeed Ian Neilson upon his retirement from WCG, who has been a valuable contributor to the company.

“WCG is at a crucial point in our growth trajectory,” remarked WCG Chief Executive Officer Sam Srivastava. “As the leading platform for clinical trial research and technology solutions, our vision is clear, and we have the data, insights, and expertise required to advance public health for all people. Execution is paramount to our success. Our mission requires thoughtful leadership, and both Robert and Paul bring remarkable skills and a proven track record to WCG with a passion for helping people. We’re thrilled to welcome them both to the team.”

About WCG
WCG is the world’s leading provider of solutions that measurably improve the quality and efficiency of clinical research. Comprised of two divisions, the industry’s first central IRB – WCG IRB – and first clinical services organization, WCG enables biopharmaceutical companies, CROs, and institutions to advance the delivery of new treatments and therapies to patients, while maintaining the highest standards of human participant protection. For more information, please visit www.wcgirb.com, www.wcgclinical.com or follow us on Twitter @WCGClinical or LinkedIn.

Categories: People

IK Partners to sell Bahr Modultechnik to IMI

IK Partners

IK Partners (“IK”) is pleased to announce that the IK Small Cap II Fund (“IK SC II”) has reached an agreement to sell its stake in Bahr Modultechnik (“Bahr” or “the Company”) to IMI plc (“IMI”).

Bahr is a leading manufacturer of modular positioning systems, used in a wide range of process automation applications.

Founded in 1990 by the brothers Frank and Dirk Bahr in Luhden, Germany, the Company focuses on delivering individual solutions based on a sophisticated portfolio of customisable and technologically leading products. Accurate and robust positioning systems are required in a wide variety of high-growth markets in relation to automation, including pharma production, packaging and labelling, as well as warehouses, factories and other specialised applications. The Company has approximately 80 employees and its unique linear positioning systems are sold in more than 24 countries around the globe.

IK invested in Bahr in May 2018 and, since then, the Company has focused on organic top-line growth, strengthening its sales capabilities and team. A modern CRM system was rolled out to support this and provides full transparency of sales performance. In addition, the Company reinforced its commercial leadership by developing a strategic approach to sales through the optimisation of reporting structures and processes, together with clear roles and responsibilities of team members defined. With further product developments targeted at niche applications, Bahr is well placed to continue its accelerated growth path.

Dirk Bahr, Founder and Co-CEO of Bahr, commented: “We are delighted to have enjoyed a successful partnership with IK, which has seen Bahr grow significantly in a short space of time. Having strengthened our sales team and developed our digital marketing capabilities, we look forward to entering the next phase of growth with IMI by our side.”

Cihan Halavurt, Co-CEO of Bahr, added: “Over the past few years, IK has introduced added-value initiatives to the Company through the optimisation of several key processes, specifically with regards to sales and marketing. With their help, we have professionalised our go-to-market approach and are now equipped with the right tools and data that allow us to continue growing in both a profitable and sustainable way. With IMI, we have found the ideal partner and can leverage both companies’ products and customer networks at a global scale with immediate effect.”

Nils Pohlmann, Partner at IK and Advisor to the IK SC II Fund, added: “It has been a pleasure working with the team at Bahr for the past four years. The business has a very sophisticated product portfolio and we are proud to have supported the Company on their journey of becoming a more robust, customer-centric organisation, especially with regards to the bolstering of their salesforce and related capabilities. We wish them well as they continue with a new partner.”

Roy Twite, CEO at IMI, said: “We are truly impressed with Bahr’s leadership and its record of consistent growth. Their unique modular system, coupled with their customer-centric approach and ability to engineer application-specific solutions, aligns nicely with our own business model. We are therefore excited for Dirk, Cihan and the team to join us. Together we will be able to offer customers across the world solutions to their automation requirements.”

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

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Trustly, backed by Nordic Capital, acquires Ecospend, further strengthening position in the UK

Nordic Capital

Trustly, the leading global payments platform for digital Account-to-Account transactions (“A2A”) today announces the acquisition of the UK-based Open Banking Payments platform Ecospend. Ecospend’s strong UK A2A product and full bank connectivity will complement and enable Trustly to deliver a market-leading product in the UK, and further accelerate its UK roll-out  – one of Europe’s most rapidly growing A2A regions and a core growth market for Trustly.

Four years after PSD2 made Open Banking a regulatory requirement in the UK, the market presents a dynamic ecosystem, with rapidly accelerating consumer adoption, and strong transaction volume growth. As previously announced, the UK is one of Trustly’s core growth markets. Having set an ambitious target to be the game-changing market leader in the UK, the acquisition of Ecospend now accelerates Trustly’s journey towards that target.

Trustly, backed by Nordic Capital, acquires Ecospend, further strengthening position in the UK Image

Ecospend, founded in 2017, is a FCA UK regulated A2A payments provider powering the next generation of open banking based payments and financial data services. Ecospend serves clients in a range of industries, including Public Sector where the company has a key contract with the tax authority of the UK government, HMRC, which went live in March 2021. In the past year, Ecospend has processed over £5bn in A2A payments to over 2 million consumers. Ecospend’s strong UK Payment Initiation and Account Information Services (PIS & AIS), as well as connectivity with 80+ UK banks makes it a strong fit with Trustly’s collection capabilities and wider European footprint.

Johan Tjärnberg, Group CEO of Trustly, comments: “I am delighted to welcome Ecospend to Trustly. This is a perfect strategic fit and I am convinced that it will enable us to deliver a market-leading product in the UK, allowing us to capture opportunities and accelerate our current UK expansion.”

Metin Erkman, Founder of Ecospend: “Together with Trustly we will be able to further accelerate our expansion in the UK and continue to raise the bar for service excellence to our customers. We will continue to leverage our market-leading technology and bank connectivity in the UK and, together with Trustly, broaden our capabilities to stretch across Europe and further markets. We are really excited to join the Trustly family.”

The transaction is subject to customary regulatory approvals. The parties, Trustly AB and Ecospend Technologies Ltd, have agreed to not disclose any financial details.

For more information, please contact:

Charlotte Eriksson
Head of Strategic Transformation and Head of Corporate Communications at Trustly
+46 (0)76 115 32 10, charlotte.eriksson@trustly.com

About Trustly

Founded in 2008, Trustly is a global leader in Open Banking Payments. Our digital account-to-account platform redefines the speed, simplicity and security of payments, linking some of the world’s most prominent merchants with consumers directly from their online banking accounts. Trustly can handle the entire payment journey, setting us apart from the competition and enabling us to offer an attractive alternative to the traditional card networks at a lower cost. Today we serve 8,100 merchants, connecting them with 525 million consumers and 6,300 banks in over 30 countries; and in 2021 we processed over $28 billion in transaction volume in our global network. We are a licensed Payment Institution under the second payment services directive (PSD2) and operate under the supervision of the Swedish Financial Supervisory Authority in Europe. In the US, we are state regulated as required to serve our target markets. Read more at www.trustly.com.

About Ecospend

Founded in 2017, Ecospend is an Open Finance Technology platform. In 2021 Ecospend won one of the largest ever Open Banking contracts, with HMRC. In the past year Ecospend has processed over £5bn in transaction volume from its client portfolio which, in addition to the UK Government, includes several blue chip private sector clients such as ITV, Toolstation, Anglian Water and London Mutual Credit Union. Ecospend operates under the supervision of the UK FCA. Read more at www.ecospend.com

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Dutch Quadrum Capital invests in LensOnline’s vision for the future

Quadrum Capital

Kruibeke/Woerden, May 25th, 2022 – LensOnline, the largest online supplier of contact lenses in the Benelux, and Dutch investment company Quadrum Capital are joining forces to support LensOnline’s further growth on the European market and to invest in a wider range of total solutions for eye care.

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Quadrum Capital – LensOnline

In recent years LensOnline has experienced strong growth in Belgium and the Netherlands, but still sees more opportunities. Bert Boon, CEO and founder of LensOnline: “The demand from the market is more towards offering a total approach. The hybrid model in which we call in the expertise of independent opticians meets that demand, but the challenges and opportunities in the longer term are greater.” With the cooperation with Quadrum Capital, LensOnline hopes to fulfil its plans for further European expansion, further focus on e-commerce and next steps in eye care.

“Just that hybrid model is what we at Quadrum Capital want to support and build on,” says Hedzer Wester, Investment Manager at Quadrum. “The e-commerce experience within LensOnline and its broad network of partner opticians, are complementary to our current investments.” Quadrum Capital and LensOnline are mainly looking at expanding the partner network and services around eye care. Wester outlines the long-term goal: “By combining a network of eye experts with a broad partner network, we reach consumers who often have difficulty finding that total vision solution.”

In the short term, LensOnline will focus mainly on geographical expansion, with further growth in the Netherlands and the full roll-out of the concept in Italy at the top of the agenda. Together with Quadrum Capital, LensOnline wants to realise this growth by taking its current marketing activities to an even higher level. In addition, the possibilities of entering the German market will be investigated.

Boon: “With Quadrum Capital we have a partner who on one hand believes in our plans to offer more complementary services around eye care, but on the other hand is also willing to take those plans to a European level. Quadrum Capital’s know-how and network are invaluable in that respect.”

With Bert Boon as founder and CEO, the current management is anchored in the shareholder structure and day-to-day succession is assured. “In order to realise growth and move faster in the future, it is important for LensOnline that the current management remains on board,” continues Boon.

About LensOnline LensOnline®, founded in 2004, is one of the largest online suppliers of contact lenses. LensOnline operates in Belgium, the Netherlands and Italy where it works with a large network of more than 250 independent partner opticians who assist consumers in purchasing contact lenses, liquids and care products.

About Quadrum Capital Independent investment company Quadrum Capital helps companies in the mid-market segment to achieve their growth ambitions in a responsible way. Entrepreneurship, strong commitment and the contribution of high-quality management experience, network and financial strength form the basis for this. Quadrum Capital has offices in Woerden and Almelo and is characterized by a strong regional presence, a sharp vision and a no-nonsense mentality.

Since its foundation in 2012 Quadrum Capital has built a broad portfolio of participations in various sectors. Healthcare and IT are among Quadrum Capital’s focus sectors and LensOnline’s activities are a perfect match. The participation in LensOnline will take place from the recently founded Quadrum Investment Fund IV. This fund is mainly financed by entrepreneurs and entrepreneurial families and has a clear (international) growth ambition.

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Pantheon appoints Eimear Palmer as Partner and Global Head of ESG

Appointment enhances Pantheon’s track record of ESG leadership in private markets
 Eimear brings deep and specialized experience from 14 years in private equity-focused ESG roles
 New position sits within Pantheon’s investment function and includes leadership of the firm’s established, cross-functional ESG Committee

Pantheon, a leading global private markets investor, is delighted to announce the appointment of Eimear Palmer as Partner and Global Head of ESG. In this new role, which sits within Pantheon’s investment function, Eimear will oversee and further develop the firm’s established ESG strategy and range of initiatives, reflecting our ongoing commitment to integrating ESG principles throughout our business and enhancing our track record of leadership in private markets on a topic that is of growing importance to investors.

Recognized for her expertise in responsible investment and engagement with key stakeholders, Eimear is a founder of the UK network of Initiative Climat International, an investor-led platform focused on climate action among leading global private market organizations, of which Pantheon is a signatory. She brings 14 years of experience in private equity-focused ESG, including through her most recent role as Managing Director and Head of Responsible Investment at Intermediate Capital Group (ICG). Eimear previously worked at the Carlyle Group, where she implemented an enhanced ESG framework for Carlyle Europe Partners.
At Pantheon, Eimear will lead our cross-functional ESG Committee, which is charged with coordinating our broader approach to ESG, both within the firm and across our investment processes, as well as in our engagement with our clients, the industry and our wider communities. She will join the firm in London in August and report to Investment Partner Alex Scott, who, alongside Hong Kong-based Investment Partner Jie Gong, has played a key role in developing Pantheon’s ESG efforts as Co-Head of our ESG Committee.
“Pantheon has long been an innovator in responsible investment practices and, with Eimear’s leadership as Global Head of ESG, we look forward to enhancing the capabilities we offer our clients and our role in the development of best practices across our industry,” said Alex Scott.

Pantheon has been at the forefront of efforts to shape a more sustainable global financial system since 2007, when it became only the second global private equity firm to sign on to the United Nations-backed Principles for Responsible Investment (PRI). More recently we have developed a climate risk mapping tool across our infrastructure investment programs in partnership with specialist consultancy ERM, which is helping us to produce reporting to clients in line with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), of which we are a signatory.

“We recognize the importance of strong ESG practices to delivering on the long-term objectives of our investors,” said Paul Ward, Managing Partner at Pantheon. “I look forward to welcoming Eimear to Pantheon, where her formidable experience will help us build on our track record of ESG leadership and support the continued evolution of our policies, practices and range of industry partnerships.”
***Ends

Notes to Editors
For further information, please contact:
Ashley Wassall, Head of Client Communications
Tel: +44 20 3356 1763 | C: +44 7776 778 620 | Email: ashley.wassall@pantheon.com

About Pantheon
Pantheon Group* (“Pantheon”) is a leading global private markets firm currently investing on behalf of approximately 865 investors, including public and private pension plans, insurance companies, endowments and foundations. Pantheon has an established reputation across private market asset classes, covering all stages and geographies, and provides investment solutions that include flagship fund offerings, as well as integrated programs and customized solutions.

As of December 31, 2021 Pantheon had $84.6 billion assets under management and advice and the firm currently has more than 400 employees located across its offices in London, San Francisco, New York, Chicago, Hong Kong, Seoul**, Bogotá**, Tokyo, Dublin and Berlin. Its global workforce includes more than 115 investment professionals.

Pantheon is majority-owned by Affiliated Managers Group Inc. (“AMG”), alongside senior members of the Pantheon team. AMG is a NYSE-listed global asset management company with equity investments in leading boutique investment management firms. The ownership structure, with Pantheon management owning a meaningful share of the equity in the business, provides a framework for long-term succession and enables Pantheon management to continue to direct the firm’s day-to-day operations.
* Pantheon Group refers to the subsidiaries and subsidiary undertakings of Pantheon Ventures Inc. and AMG Plymouth UK Holdings Limited and includes operating entities principally based in the US (San Francisco and New York), UK (London), Hong Kong, Guernsey, Tokyo and Dublin. Pantheon Ventures Inc. and Pantheon Ventures (US) LP are registered as investment advisors with the U.S. Securities and Exchange Commission (“SEC”); Pantheon

Securities, LLC is a broker dealer registered with the SEC and is a member of the Financial Industry Regulatory Authority (“FINRA”). Pantheon Ventures (UK) LLP is authorized and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom. Pantheon Ventures (HK) LLP is regulated by the Securities and Futures Commission in Hong Kong. Pantheon Ventures (Guernsey) Ltd and a number of other Pantheon entities incorporated in Guernsey are regulated by the Guernsey Financial Services Commission. Pantheon Ventures (Asia) Limited is registered as a Type II Financial Instruments Business and Investment Advisory and Agency Business Operator with the Kanto Local Finance Bureau in Japan (KLFB).
** Please note that the Bogotá office is a representative office of Pantheon Ventures (US) LP (“PV US”), and that a Korean subsidiary of PV US has opened the office in Seoul.
This press release is not an offer of securities for sale. Securities may not be offered or sold in the United States absent registration or an exemption from registration. © 2022

Categories: People

Carlyle to Acquire Leading Global Cosmetics Packaging Company HCP from BPEA

Carlyle

Shanghai, China, May 26, 2022 – Global investment firm, Carlyle (NASDAQ: CG) today announced it has agreed to acquire a 100% stake in HCP Packaging (“HCP”), a global leader in the design, development and manufacture of cosmetic packaging, from funds affiliated with Baring Private Equity Asia (“BPEA”). Equity for this transaction will come from affiliates of Carlyle Asia Partners and Carlyle Japan Partners – two of Carlyle’s buyout funds in Asia. Terms of the transaction were not disclosed.

Founded in 1960 and headquartered in Shanghai, HCP is currently one of the world’s largest beauty packaging providers with 10 state-of-the-art production and manufacturing facilities across China, the USA, Mexico and Europe. The company has produced many innovative award-winning packaging designs and is dedicated to researching and investing in sustainable packaging solutions for the beauty industry. It works with over 250 leading cosmetics, skincare and fragrance brands including Estée Lauder, L’Oreal and Shiseido.

Carlyle will leverage its deep sector experience in the consumer and manufacturing industries to support HCP as it continues to scale its operations and grow its customer base globally. Carlyle will also work with HCP to help explore global strategic acquisitions, further strengthen the company’s leading R&D capabilities, and facilitate business synergies and alliances for HCP with its global network of portfolio companies in the cosmetics, consumer and manufacturing industries.

During BPEA’s ownership, HCP has experienced transformative growth. With BPEA’s support, HCP has become an even stronger primary packaging supplier for both color cosmetics and skincare products with expanded product technology as well as geographical footprint.

Eddy Wu, President and CEO of HCP Packaging, said: “We are incredibly proud of our journey to become a leading cosmetics packaging manufacturer and would like to thank BPEA for their support over the past six-and-a-half years. Our strategic priorities continue to be centered on driving sustainable packaging innovation and delivering top-quality services and best-in-class operational excellence to our customers around the world. We are delighted to partner with Carlyle and to have a new owner with such high calibre. We look to leverage Carlyle’s global platform strengths for our next phase of growth and as we expand our leading market position internationally.”

Wanlin Liu and Dennis Wang, Managing Directors of the Carlyle Asia Partners advisory team, said: “We are excited to partner with HCP and look forward to working with Eddy and the management team on the company’s next phase of global growth and expansion. We see long-term growth potential in the beauty and cosmetics industry and believe HCP’s business track record and commitment to R&D and ESG are market differentiators. We plan to leverage the strengths of our global platform, deep industry and market expertise, and synergies from our extensive network of portfolio companies in the consumer and manufacturing sectors to help HCP capture new growth opportunities, and take the company to the next level.”

Alex Lee, Managing Director at BPEA, said: “We are proud to have supported HCP’s growth and evolution into a global leader in packaging during our time with the company. By expanding into new markets, broadening HCP’s reach in its home market of China and developing a range of exciting new product offerings through selective bolt-on acquisitions, we’re confident that the company is very well positioned to continue growing over the longer-term. We’re also proud to have overseen the transformation of HCP’s ESG and sustainability capabilities, including developing refillable PCR packages and utilizing sustainability-certified manufacturing facilities, which will leave a more sustainable and environmentally-friendly footprint going forward.”

The transaction is subject to customary regulatory approvals and is expected to close in Q3 2022.

***

About HCP

From conception to manufacture, HCP Packaging is a global leader in the design, development, and manufacture of next generation primary packaging containers for the beauty industry. HCP’s product portfolio includes compacts and palettes, lipsticks and twist up sticks; mascara with expertise in molded & fiber brushes; lip gloss and concealer, pots, jars, and closures; pumps and droppers. Dedicated to sustainability, with world-class in-house finishing facilities, HCP enables brands to customize and transform packaging aesthetics with high quality and striking decoration. For more information on HCP, please visit the company’s website www.hcpackaging.com

 

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 $325 billion of assets under management as of March 31, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs nearly 1,900 people in 26 offices across five continents.

Carlyle’s buyout funds, including Carlyle Asia Partners and Carlyle Japan Partners, have well-established experience investing in the consumer and retail as well as manufacturing and industrial sectors, with investments in TOKIWA Corporation, Beautycounter, Golden Goose, Vogue, Novolex and Logoplaste among others. Globally, Carlyle has invested approximately US$25 billion of equity in over 135 deals in the consumer, media and retail sector and over US$30 billion of equity in more than 115 deals in the manufacturing and industrial sector as of March 31, 2022.

Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

 

About BPEA

Baring Private Equity Asia (BPEA) is one of Asia’s largest private alternative investment firms, with USD 21 billion of FPAUM. BPEA manages a private equity investment program, sponsoring buyouts and providing growth capital to companies for expansion or acquisitions with a particular focus on the Asia Pacific region, as well as dedicated funds focused on private real estate and private credit. The firm has a 25-year history and over 220 employees located across 10 offices in Beijing, Delhi, Hong Kong, London, Los Angeles, Mumbai, Singapore, Shanghai, Sydney, and Tokyo.

BPEA is a responsible investor that seeks to create value for all stakeholders through a sustainable approach to investing. The firm is a signatory to the UNPRI (United Nations Principles for Responsible Investment) and is committed to action within its own business and the companies in which it invests to drive sustainability across a range of issues, from climate change to social concerns to effective governance. For more information, please visit www.bpeasia.com.

 

Media contacts

HCP:
Cheryl Morgan
+44 1202 670099
cmorgan@hcpackaging.com

Carlyle:
Lonna Leong
+852 9023 1157
lonna.leong@carlyle.com

BPEA:
Fergus Herries
+852 3758 2685
fergus.herries@secnewgate.hk

Categories: News

Tags:

Ryan to Receive New Investment from Ares Management and Continued Investment from Onex Partners

Onex

DALLAS and TORONTO (May 26, 2022) – Ryan, LLC (“Ryan” or the “Company”) and Onex Corporation (“Onex”) (TSX: ONEX) announced today a private equity fund managed by Ares Management Corporation (“Ares”) (NYSE: ARES) has committed to acquiring a significant minority equity interest in Ryan, valuing the Company at $2.5 billion. The investment was made in partnership with Ryan’s management team and the Company’s existing investor Onex Partners, Onex’ flagship private equity platform, who will retain a significant minority equity interest in Ryan. This combined partnership will drive the next stage of growth for the Company.
Headquartered in Dallas, Texas, Ryan is a leading global tax services and software provider with an integrated suite of federal, state, local, and international tax services, and is the largest firm in the world dedicated exclusively to business taxes. Its multidisciplinary team of more than 3,500 professionals and associates serves over 18,000 clients in more than 60 countries, including many of the world’s most prominent companies.

“Ares is an excellent partner for our firm due to their experience helping great companies drive technology transformations and long-term growth,” said G. Brint Ryan, Chairman and Chief Executive Officer of Ryan. “We have been on a growth trajectory with recent strategic acquisitions, expansions of several key practice areas, and the addition of some of the world’s most respected companies to our already impressive client roster. With the backing of Ares and Onex, we’ll continue this momentum and increase value to our clients and team members around the world as we build the global brand in tax.”

“Ryan is a culture-driven, growth-oriented sector leader in the tax advisory and software industry,” said Abraham Zilkha, Partner in the Ares Private Equity Group. “We are thrilled to have the opportunity to partner with the Ryan team and with Onex, and we look forward to leveraging the breadth of our global platform to help support Ryan’s continued growth.”

“When we invested in Ryan almost four years ago, the firm’s strong track record, client-centric approach, and winning culture were very clear,” said Amir Motamedi, a Managing Director at Onex Partners. “Since then, Ryan has continued to strengthen its market position by focusing on the needs of its clients and well-being of its team members. We believe the best is yet to come, and we’re delighted to welcome Ares as our new partner.”
The transaction is expected to close in the third quarter of 2022, subject to customary closing conditions.

This news release may contain forward-looking statements that are based on Ares, Ryan, and Onex management’s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Ares, Ryan, and Onex are under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

About Ryan
Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes. With global headquarters in Dallas, Texas, the Firm provides an integrated suite of federal, state, local, and international tax services on a multijurisdictional basis, including tax recovery, consulting, advocacy, compliance, and technology services. Ryan is a 10-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan’s multidisciplinary team of more than 3,500 professionals and associates serves over 18,000 clients in more than 60 countries, including many of the world’s most prominent Global 5000 companies. More information about Ryan can be found at ryan.com. “Ryan” and “Firm” refer to the global organizational network and may refer to one or more of the member firms of Ryan International, each of which is a separate legal entity.

About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2022, Ares Management Corporation’s global platform had approximately $325 billion of assets under management, with approximately 2,100 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

About Onex
Onex is an investor and asset manager that invests capital on behalf of Onex shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Onex’ two primary businesses are Private Equity and Credit. In Private Equity, we raise funds from third-party investors, or limited partners, and invest them, along with Onex’ own investing capital, through the funds of our private equity platforms, Onex Partners and ONCAP. Similarly, in Credit, we raise and invest capital across several private credit, public credit and public equity strategies. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, insurance companies and family offices. In addition, through our private wealth platform, we service high net worth clients in Canada. In total, as of March 31, 2022, Onex has $49.2 billion in assets under management, of which $8.2 billion is Onex’ own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms. Onex is listed on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

For Further Information:
Ryan
Stacey Underwood Senior Manager, Content, Communications, and Public Relations
+1 972.934.0022
stacey.underwood@ryan.com
Ares
Brittany Cash
+1 212.301.0347
or
Jacob Silber
+1 212.301.0376
media@aresmgmt.com
Onex
Jill Homenuk
Managing Director – Shareholder Relations and Communications
+1 416.362.7711

Categories: News