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Advent International acquires leading specialty chemicals solutions provider Caldic from Goldman Sachs Asset Management

Advent International
  • Caldic to join forces with GTM, creating a global market leader in specialty chemicals distribution that will operate under the Caldic brand
  • Extending global reach, the combination will accelerate growth prospects with investment in employees, technology and sites
  • Advent to add significant expertise in chemicals, resources and capital

Frankfurt, 22nd November 2021 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced that it has reached conditional agreement with Goldman Sachs Asset Management to acquire Caldic BV (“Caldic”), a global premium provider of value-added life sciences and specialty chemicals solutions with the ambition to be a true partner to its customers and principals. Caldic will then merge with Advent portfolio company Grupo Transmerquim S.A. (GTM), one of the leading chemical distributors in Latin America.

Caldic’s product portfolio includes innovative food ingredients, natural products and functional solutions for a variety of life sciences and industrial end-market segments. With a leading presence in Europe, North America and Asia-Pacific, Caldic employs around 1,200 people across 35 locations. The business generated sales of about €1 billion in 2020.

Ronald Ayles, Managing Partner and Global Head of Chemicals at Advent International added, “For the chemical and distribution industry, this is a time of great change, reorganization and consolidation – and for us as a committed private equity buyer, one of great opportunity. As with all our investments, we pursue a long-term growth approach and intend to support Caldic throughout its next phase of growth. We see great prospects in the combination with GTM, nearly doubling the size of the New Caldic from the start and we look forward to working in close cooperation with the highly qualified employees and management team to firmly establish the combination as a global growth platform.”

“Caldic has a well-established market position and very attractive growth opportunities. Its strengths lie in its global network combined with local expertise, giving the flexibility to meet customer-specific requirements. Combining this business with GTM, the leader in chemicals in the Latin-American market, will create a truly global industry leader,” said Patrice Etlin, Managing Partner at Advent International in Latin America.

With over 30 investments, Advent is one of the most experienced investors in the global chemical industry. The firm invests in well positioned companies with significant operational and strategic potential. Together with the management teams of its portfolio companies, as well as its strong global network of sector teams, external industry experts and operational partners, Advent seeks to create sustainable value by driving revenue and earnings growth.

In 2014, the firm acquired GTM, the second-largest chemical distributor in Latin America. Over its 35-year history, GTM has grown to become one of only two chemical distribution companies with a full Latin-American footprint. Under Advent’s ownership, the combination will have the opportunity to continue its growth and further accelerate it, both organically as well as through acquisitions.

Leveraging this expertise, Advent plans to support the management team in its efforts to establish the combination as a strong global platform. Advent’s strategy for the business centers on substantially investing in its employees, technology and sites. Additionally, Advent sees further growth potential through expansion and investment to strengthen the company’s already well-established market position.

The transaction is expected to close in the first half of 2022, subject to customary conditions and regulatory approvals. Terms of the agreement were not disclosed.

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 380 private equity investments across 42 countries, and as of June 30, 2021, had €68 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 245 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology.

Advent has invested in over 30 companies in the chemicals industry over recent years. Examples include Röhm, one of the global market leaders in methacrylate chemicals, allnex, a global leader in resins for the paints and coatings industry, and Oxea, a leading supplier of oxo alcohols and oxo derivatives. In addition, Advent has invested in companies including VIAKEM, a leading manufacturer of fine chemicals, and GTM, a transnational distributor of chemical raw materials in Latin America.

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.

For more information, visit:
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

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CompanyCam Raises $30M in Series B Funding Round to Help Contractors Document Jobs, Communicate with Crews, and Cover Their Butts

Nebraska-based SaaS for contractors set for growth and product development.

CompanyCam, the Lincoln-based photo documentation and communication app for contractors, announced today the close of a $30 million Series B round led by New York-based global private equity and venture capital firm Insight Partners. Other investors in this round included JMI Equity and WndrCo.

With a growing base of over 100,000 users, this investment comes as CompanyCam celebrates its sixth year in business. CompanyCam will use the funds to accelerate rapid growth, expand product functionality, and build up the in-house and remote teams to meet consumer demand. CompanyCam continues to work on releasing new features, refining the core product, and growing—both its user base and company.

“Simply put, this capital will be fueling CompanyCam’s ability to grow aggressively into new markets by doubling down on proven strategies as well as expanding our approach to go-to-market,” Founder and CEO of CompanyCam, Luke Hansen said. “It will also allow us to serve our current markets even better with new and enhanced functionality.”

“Photo documentation is a critical pain point faced by contractors today and CompanyCam seamlessly addresses this problem with its intuitive technology,” said Matt Koran, Vice President at Insight Partners. “The industry-specific and first-hand knowledge of CompanyCam’s management stands out within the market and we look forward to partnering with the company as they continue to grow.” Matt Koran will join CompanyCam’s board.

This Series B investment is paired with another major announcement from CompanyCam —the release of showcases, a new feature that allows users to publish their CompanyCam projects directly to their websites in seconds. The feature helps contractors win business, showing potential customers a gallery they can filter by project type.

“CompanyCam’s ability to help contractors capture field data and deliver it in real-time has revolutionized how contractors work,” said Brian Hersman, General Partner at JMI Equity. “We are excited to partner with CompanyCam to support their rapid growth.”

“As longtime builders and investors in productivity software, we are thrilled to partner with CompanyCam as they bring easy-to-use, digital workflows to the construction industry,” said ChenLi Wang, General Partner at WndrCo.

About CompanyCam
Founded in 2015, CompanyCam has revolutionized how contractors work. Users can take unlimited photos, which are stamped by time and location, sent immediately to the cloud, and stored securely. This complete photo software enables contractors in every industry to manage, monitor, and share project progress from anywhere. With over 350 million photos in the cloud and counting, CompanyCam is dedicated to providing contractors with the easiest and most productive photo solution. For more information, visit CompanyCam.com.

About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

About JMI
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 165 businesses in its target markets, successfully completed over 110 exits, and raised more than $6 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit jmi.com.

About WndrCo
WndrCo is a technology investment firm which partners with industry-leading founders and companies. The firm was started by Sujay Jaswa (former Head of Business & CFO at Dropbox) and Jeffrey Katzenberg (former CEO of DreamWorks). Please visit wndrco.com for more information.

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Sierra Space Secures Record $1.4 Billion Series A Growth Investment and Achieves $4.5 Billion Valuation

Investment led by General Atlantic, Coatue and Moore Strategic Ventures, with participation from funds and accounts managed by BlackRock Private Equity Partners and AE Industrial Partners

• Sierra Space secures $1.4 billion Series A capital raise; represents largest aerospace and defense capital raise globally in 2021, second-largest private capital raise globally in the aerospace and defense sector ever
• Growth capital accelerates the realization of Sierra Space’s vision of enabling humanity to build civilizations in space, while enhancing life on Earth
• Sierra Space is building the first commercial business platform in space; investment accelerates development of the company’s revolutionary Dream Chaser Spaceplane and expandable LIFE Commercial Space Station
• Dream Chaser Spaceplane, a family of vehicles for cargo, crew and national security applications, is in advanced stage of development and production and is under a multi-billion-dollar contract with NASA to perform cargo resupply missions to the International Space Station starting late next year
• Sierra Space is uniquely positioned to drive and capitalize on rapidly expanding low Earth orbit (LEO) economy via its differentiated and technologically advanced products

November 19, 2021

Sierra Space, a leading commercial space company with 1,100 employees, more than 500 missions and over 30 years of space flight heritage, announced today a $1.4 billion Series A investment of primary capital, the first capital raise for the company and the second-largest private capital raise globally in the aerospace and defense sector ever.

Sierra Space aims to build the future of space transportation, commercial space destinations and infrastructure, and enabling technologies that will help to build a vibrant, growing commercial space economy. As the LEO economy reaches a critical inflection point – driven by the convergence of the increasing commercialization of space, renewed public interest and defense considerations – Sierra Space is developing foundational infrastructure to support this growing ecosystem. By opening up affordable access to space, Sierra Space hopes to enable existing businesses, entrepreneurs, researchers and governments to create exciting breakthroughs that can empower humanity to begin new civilizations in space and benefit life on Earth.

The round is led by General Atlantic, Coatue and Moore Strategic Ventures, with participation from funds and accounts managed by BlackRock Private Equity Partners, AE Industrial Partners, and various strategic family offices. The funding will accelerate the development of the company’s revolutionary Dream Chaser® Spaceplane, the world’s only orbital commercial spaceplane. Dream Chaser is designed to be a reusable orbital spaceplane, uniquely capable of a smooth 1.5 low-g re-entry and able to land on commercial runways virtually anywhere on Earth.

Dream Chaser is in advanced-stage development under a multi-billion-dollar NASA contract to perform cargo resupply missions to the International Space Station. Dream Chaser has three variants leveraging flexible design and performance versatility to address cargo, crewed or national security space requirements across domestic and international commercial, civil government and defense customer segments.

This investment will also support the development of the company’s Large Integrated Flexible Environment (LIFE™) Habitat, a modular, three-story commercial habitation, business and science platform. Dream Chaser and LIFE Habitat are critical components for Orbital Reef, the visionary new commercial space station that Sierra Space is developing in partnership with Blue Origin.

“We are building the next generation of space transportation systems and in-space infrastructures and destinations that will enable humanity to build and sustain thriving civilizations beyond Earth,” stated Tom Vice, CEO of Sierra Space. “Equally as important, Sierra Space is building the next platform for business. Space provides a unique environment that will enable new breakthroughs in critical areas such as pharmaceuticals, semiconductors, fiber optics and energy that will directly enhance our life on Earth.”

Bill Ford, Chairman and CEO of General Atlantic, said, “General Atlantic and our fellow co-investors are proud to support Sierra Space in its vision to define the future of the commercial space economy. The company has harnessed advanced technologies and a culture of innovation to develop products that have transformative potential, and that position Sierra Space as an emerging leader in the new space age. We look forward to providing active partnership to Sierra Space and its management team to accelerate its growth and magnify its global impact.”

Fatih Ozmen, Chairman of the Sierra Space Board of Directors and CEO of founding company Sierra Nevada Corporation (SNC), commented, “We have worked hard for years to nurture the Sierra Space business from its genesis in 2008 to today, where it has significantly grown to hold a very unique and strategic position in the rapidly expanding commercial space sector. Sierra Space now has the right scale, and with its leading-edge technologies and turnkey capabilities is poised to significantly accelerate growth with this investment. Eren and I are excited to welcome this established and experienced team of investors as our new partners at this inflection point for Sierra Space. Together, we have a game-changing strategy and resources that position the company to lead the new space race and seize the growing market in the new space economy.” Fatih and Eren Ozmen own SNC, the majority owner of Sierra Space, and will both serve on the Sierra Space board.

About Sierra Space

Sierra Space products and programs are working towards a more accessible space economy. The company is rapidly advancing toward the launch of the world’s only winged commercial spaceplane, the Dream Chaser. As the next generation of space transportation, the Dream Chaser will perform cargo supply and return missions for NASA, set to begin in late 2022, delivering up to 12,000 pounds of cargo to the International Space Station (ISS) at a time. The return journey will carry critical data, generated by ISS researcher experiments, enabling earth-bound scientists to benefit from much faster access to these unique results. Dream Chaser is a reusable spaceplane, uniquely capable of a smooth 1.5 low-g re-entry for crew and cargo transportation with the ability to land on existing commercial runways worldwide.

Sierra Space is the developer of the Large Integrated Flexible Environment (LIFETM) Habitat, a modular, three-story commercial habitation and science platform. The unique structure will provide opportunities for multiple businesses including manufacturing, pharmaceuticals, and other sectors, to optimize zero gravity benefits. The LIFE habitat will be able to be deployed in low-Earth orbit, on the lunar surface, or lunar orbit, and as a transport vehicle to Mars. Both Dream Chaser and LIFE habitat will launch using conventional rocket propulsion systems.

The Dream Chaser spaceplane and LIFE platform are central components of the joint partnership Orbital Reef commercial space station and mixed-use business park being developed in partnership with Blue Origin.

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 $78 billion in assets under management inclusive of all products as of June 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

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

Kimberly Schwandt
Sierra Space 720-407-3223 kimberly.schwandt@sncorp.com

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Sierra Space Secures Record $1.4 Billion Series A Growth Investment and Achieves $4.5 Billion Valuation

Investment led by General Atlantic, Coatue and Moore Strategic Ventures, with participation from funds and accounts managed by BlackRock Private Equity Partners and AE Industrial Partners

• Sierra Space secures $1.4 billion Series A capital raise; represents largest aerospace and defense capital raise globally in 2021, second-largest private capital raise globally in the aerospace and defense sector ever
• Growth capital accelerates the realization of Sierra Space’s vision of enabling humanity to build civilizations in space, while enhancing life on Earth
• Sierra Space is building the first commercial business platform in space; investment accelerates development of the company’s revolutionary Dream Chaser Spaceplane and expandable LIFE Commercial Space Station
• Dream Chaser Spaceplane, a family of vehicles for cargo, crew and national security applications, is in advanced stage of development and production and is under a multi-billion-dollar contract with NASA to perform cargo resupply missions to the International Space Station starting late next year
• Sierra Space is uniquely positioned to drive and capitalize on rapidly expanding low Earth orbit (LEO) economy via its differentiated and technologically advanced products

November 19, 2021

Sierra Space, a leading commercial space company with 1,100 employees, more than 500 missions and over 30 years of space flight heritage, announced today a $1.4 billion Series A investment of primary capital, the first capital raise for the company and the second-largest private capital raise globally in the aerospace and defense sector ever.

Sierra Space aims to build the future of space transportation, commercial space destinations and infrastructure, and enabling technologies that will help to build a vibrant, growing commercial space economy. As the LEO economy reaches a critical inflection point – driven by the convergence of the increasing commercialization of space, renewed public interest and defense considerations – Sierra Space is developing foundational infrastructure to support this growing ecosystem. By opening up affordable access to space, Sierra Space hopes to enable existing businesses, entrepreneurs, researchers and governments to create exciting breakthroughs that can empower humanity to begin new civilizations in space and benefit life on Earth.

The round is led by General Atlantic, Coatue and Moore Strategic Ventures, with participation from funds and accounts managed by BlackRock Private Equity Partners, AE Industrial Partners, and various strategic family offices. The funding will accelerate the development of the company’s revolutionary Dream Chaser® Spaceplane, the world’s only orbital commercial spaceplane. Dream Chaser is designed to be a reusable orbital spaceplane, uniquely capable of a smooth 1.5 low-g re-entry and able to land on commercial runways virtually anywhere on Earth.

Dream Chaser is in advanced-stage development under a multi-billion-dollar NASA contract to perform cargo resupply missions to the International Space Station. Dream Chaser has three variants leveraging flexible design and performance versatility to address cargo, crewed or national security space requirements across domestic and international commercial, civil government and defense customer segments.

This investment will also support the development of the company’s Large Integrated Flexible Environment (LIFE™) Habitat, a modular, three-story commercial habitation, business and science platform. Dream Chaser and LIFE Habitat are critical components for Orbital Reef, the visionary new commercial space station that Sierra Space is developing in partnership with Blue Origin.

“We are building the next generation of space transportation systems and in-space infrastructures and destinations that will enable humanity to build and sustain thriving civilizations beyond Earth,” stated Tom Vice, CEO of Sierra Space. “Equally as important, Sierra Space is building the next platform for business. Space provides a unique environment that will enable new breakthroughs in critical areas such as pharmaceuticals, semiconductors, fiber optics and energy that will directly enhance our life on Earth.”

Bill Ford, Chairman and CEO of General Atlantic, said, “General Atlantic and our fellow co-investors are proud to support Sierra Space in its vision to define the future of the commercial space economy. The company has harnessed advanced technologies and a culture of innovation to develop products that have transformative potential, and that position Sierra Space as an emerging leader in the new space age. We look forward to providing active partnership to Sierra Space and its management team to accelerate its growth and magnify its global impact.”

Fatih Ozmen, Chairman of the Sierra Space Board of Directors and CEO of founding company Sierra Nevada Corporation (SNC), commented, “We have worked hard for years to nurture the Sierra Space business from its genesis in 2008 to today, where it has significantly grown to hold a very unique and strategic position in the rapidly expanding commercial space sector. Sierra Space now has the right scale, and with its leading-edge technologies and turnkey capabilities is poised to significantly accelerate growth with this investment. Eren and I are excited to welcome this established and experienced team of investors as our new partners at this inflection point for Sierra Space. Together, we have a game-changing strategy and resources that position the company to lead the new space race and seize the growing market in the new space economy.” Fatih and Eren Ozmen own SNC, the majority owner of Sierra Space, and will both serve on the Sierra Space board.

About Sierra Space

Sierra Space products and programs are working towards a more accessible space economy. The company is rapidly advancing toward the launch of the world’s only winged commercial spaceplane, the Dream Chaser. As the next generation of space transportation, the Dream Chaser will perform cargo supply and return missions for NASA, set to begin in late 2022, delivering up to 12,000 pounds of cargo to the International Space Station (ISS) at a time. The return journey will carry critical data, generated by ISS researcher experiments, enabling earth-bound scientists to benefit from much faster access to these unique results. Dream Chaser is a reusable spaceplane, uniquely capable of a smooth 1.5 low-g re-entry for crew and cargo transportation with the ability to land on existing commercial runways worldwide.

Sierra Space is the developer of the Large Integrated Flexible Environment (LIFETM) Habitat, a modular, three-story commercial habitation and science platform. The unique structure will provide opportunities for multiple businesses including manufacturing, pharmaceuticals, and other sectors, to optimize zero gravity benefits. The LIFE habitat will be able to be deployed in low-Earth orbit, on the lunar surface, or lunar orbit, and as a transport vehicle to Mars. Both Dream Chaser and LIFE habitat will launch using conventional rocket propulsion systems.

The Dream Chaser spaceplane and LIFE platform are central components of the joint partnership Orbital Reef commercial space station and mixed-use business park being developed in partnership with Blue Origin.

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 $78 billion in assets under management inclusive of all products as of June 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

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Media Contacts

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

Kimberly Schwandt
Sierra Space 720-407-3223 kimberly.schwandt@sncorp.com

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Sierra Space Secures Record $1.4 Billion Series A Growth Investment and Achieves $4.5 Billion Valuation

Ae Industrial Partners

Sierra Space Secures Record $1.4 Billion Series A Growth Investment and Achieves $4.5 Billion Valuation

Investment led by General Atlantic, Coatue and Moore Strategic Ventures, with participation from funds and accounts managed by BlackRock Private Equity Partners and AE Industrial Partners

  • Sierra Space secures $1.4 billion Series A capital raise; represents largest aerospace and defense capital raise globally in 2021, second-largest private capital raise globally in the aerospace and defense sector ever
  • Growth capital accelerates the realization of Sierra Space’s vision of enabling humanity to build civilizations in space, while enhancing life on Earth
  • Sierra Space is building the first commercial business platform in space; investment accelerates development of the company’s revolutionary Dream Chaser® Spaceplane and expandable LIFE Commercial Space Station
  • Dream Chaser Spaceplane, a family of vehicles for cargo, crew and national security applications, is in advanced stage of development and production and is under a multibillion-dollar contract with NASA to perform cargo resupply missions to the International Space Station starting late next year
  • Sierra Space is uniquely positioned to drive and capitalize on rapidly expanding low-Earth orbit (LEO) economy via its differentiated and technologically advanced products

November 19, 2021– LOUISVILLE, Colo.— Sierra Space, a leading commercial space company with 1,100 employees, more than 500 missions and over 30 years of space flight heritage, announced today a $1.4 billion Series A investment of primary capital, the first capital raise for the company and the second-largest private capital raise globally in the aerospace and defense sector ever.

Sierra Space aims to build the future of space transportation, commercial space destinations and infrastructure, and enabling technologies that will help to build a vibrant, growing commercial space economy. As the LEO economy reaches a critical inflection point – driven by the convergence of the increasing commercialization of space, renewed public interest and defense considerations – Sierra Space is developing foundational infrastructure to support this growing ecosystem. By opening up affordable access to space, Sierra Space hopes to enable existing businesses, entrepreneurs, researchers and governments to create exciting breakthroughs that can empower humanity to begin new civilizations in space and benefit life on Earth.

Dream Chaser is in advanced-stage development under a multibillion-dollar NASA contract to perform cargo resupply missions to the International Space Station. Dream Chaser has three variants leveraging flexible design and performance versatility to address cargo, crewed or national security space requirements across domestic and international commercial, civil government and defense customer segments.

This investment will also support the development of the company’s Large Integrated Flexible Environment (LIFE™) Habitat, a modular, three-story commercial habitation, business and science platform. Dream Chaser and LIFE Habitat are critical components for Orbital Reef, the visionary new commercial space station that Sierra Space is developing in partnership with Blue Origin.

“We are building the next generation of space transportation systems and in-space infrastructures and destinations that will enable humanity to build and sustain thriving civilizations beyond Earth,” stated Tom Vice, CEO of Sierra Space. “Equally as important, Sierra Space is building the next platform for business. Space provides a unique environment that will enable new breakthroughs in critical areas such as pharmaceuticals, semiconductors, fiber optics and energy that will directly enhance our life on Earth.”

Bill Ford, Chairman and CEO of General Atlantic, said, “General Atlantic and our fellow co-investors are proud to support Sierra Space in its vision to define the future of the commercial space economy. The company has harnessed advanced technologies and a culture of innovation to develop products that have transformative potential, and that position Sierra Space as an emerging leader in the new space age. We look forward to providing active partnership to Sierra Space and its management team to accelerate its growth and magnify its global impact.”

Fatih Ozmen, Chairman of the Sierra Space Board of Directors and CEO of founding company Sierra Nevada Corporation (SNC), commented, “We have worked hard for years to nurture the Sierra Space business from its genesis in 2008 to today, where it has significantly grown to hold a very unique and strategic position in the rapidly expanding commercial space sector. Sierra Space now has the right scale, and with its leading-edge technologies and turnkey capabilities is poised to significantly accelerate growth with this investment. Eren and I are excited to welcome this established and experienced team of investors as our new partners at this inflection point for Sierra Space. Together, we have a game-changing strategy and resources that position the company to lead the new space race and seize the growing market in the new space economy.” Fatih and Eren Ozmen own SNC, the majority owner of Sierra Space, and will both serve on the Sierra Space board.

About Sierra Space

Sierra Space products and programs are working towards a more accessible space economy. The company is rapidly advancing toward the launch of the world’s only winged commercial spaceplane, the Dream Chaser. As the next generation of space transportation, the Dream Chaser will perform cargo supply and return missions for NASA, set to begin in late 2022, delivering up to 12,000 pounds of cargo to the International Space Station (ISS) at a time. The return journey will carry critical data, generated by ISS researcher experiments, enabling earth-bound scientists to benefit from much faster access to these unique results. Dream Chaser is a reusable spaceplane, uniquely capable of a smooth 1.5 low-g re-entry for crew and cargo transportation with the ability to land on existing commercial runways worldwide.

Sierra Space is the developer of the Large Integrated Flexible Environment (LIFETM) Habitat, a modular, three-story commercial habitation and science platform. The unique structure will provide opportunities for multiple businesses including manufacturing, pharmaceuticals, and other sectors, to optimize zero gravity benefits. The LIFE Habitat will be able to be deployed in low-Earth orbit, on the lunar surface, or lunar orbit, and as a transport vehicle to Mars. Both Dream Chaser and LIFE Habitat will launch using conventional rocket propulsion systems.

The Dream Chaser Spaceplane and LIFE platform are central components of the joint partnership Orbital Reef commercial space station and mixed-use business park being developed in partnership with Blue Origin.

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Espresso Capital closes $200 million credit facility led by KeyBank

espresso capital

Toronto — November 19, 2021 — Espresso Capital announced today that it has closed a $200 million credit facility from KeyBank, one of the largest bank-based financial services companies in the United States. A leading provider of innovative venture debt solutions, Espresso will use the facility to further expand its lending activities to high-growth technology and healthcare companies.

“We’re excited to welcome KeyBank as a funding partner,” said Espresso Chief Operating Officer and CFO, Enio Lazzer. “Securing this facility is an important milestone that further expands our capacity to support borrowers with innovative venture debt solutions. The KeyBank facility complements Espresso’s existing facilities with BMO Bank of Montreal and Scotiabank.”

Since it was founded in 2009, Espresso has funded more than 300 companies across the United States, Canada, and the United Kingdom. Espresso’s financing solutions help companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital.

“We’re delighted to have Espresso among our growing portfolio of high-quality growth capital lenders,” said Rian Emmett, Group Head, Executive Vice President, Specialty Finance Lending, at KeyBank. “We specialize in providing financing to firms like Espresso and are pleased to be able to help enable their continued growth.”

About Espresso Capital

Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 300 technology companies and their investors accelerate growth, extend runway and increase strategic flexibility with non-dilutive capital. Learn more at espressocapital.com.

 

 

Media contact

Kevin Cain
Head of Marketing, Espresso Capital
kcain@espressocapital.com

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Antelope Acquires Bocce’s Bakery

Alpine

SAN FRANCISCO–(BUSINESS WIRE)–Antelope, an omni-channel, pet consumer platform focused on delivering high-quality, natural pet products, announced its acquisition of Bocce’s Bakery (“Bocce’s”), an all-natural, limited-ingredient pet treats company. Bocce’s will continue to operate under its brand name within Antelope.

Bocce’s Bakery was founded in 2010 by Andrea Tovar after Andrea had a difficult time finding simple, natural treats for her dog, Bocce. Andrea started baking treats in her NYC apartment with the belief that dogs deserve real food. Natalia Tovar, Andrea’s sister joined the business in the first year. Eleven years later, Bocce’s has grown into one of the fastest growing brands in pet treats, with a full line of treats of over 75 SKUs of all-natural, innovative recipes for dogs (and soon cats) of all ages. Bocce’s treats are carried in thousands of retail stores across the nation and can be found in local independent pet stores, natural grocery chains, and national retailers such as Target, Petsmart, Petco, and Shake Shack. Andrea and Natalia will continue as Senior Advisors to the company.

Antelope was launched by Alpine Investors (“Alpine”) and Founder and CEO, Wendy Wen, with the mission to build a next-generation conglomerate of high-quality natural pet brands. Wendy was previously the Co-Founder and COO of SENREVE, a digitally-native, omni-channel luxury handbag brand, where she’d built the business from the ground up to a globally recognized name.

“We started Bocce’s in a small oven and could not be more proud of how our customers have stood behind our mission over the past decade. In considering the next step in Bocce’s growth trajectory, we have found Alpine to be unique in their energy, enthusiasm, and care for our brand,” said Andrea. “We are confident that Alpine and Wendy will continue to build on Bocce’s strong foundation while maintaining Bocce’s quality promise and our commitment to making a positive change in the pet aisle. We are excited about the opportunities that partnering with Alpine will unlock for Bocce’s and look forward to this next chapter in the Bocce’s story.”

“The company that Andrea and Natalia have built is unmatched in its product, branding, and values,” said Wendy, CEO of Antelope. “I am thrilled to partner with Bocce’s and am committed to preserving the unique DNA that has made Bocce’s so successful while investing in the infrastructure to help the brand scale to the next level.”

About Bocce’s Bakery

Bocce’s was founded in 2010 in a West Village kitchen with a mixer, an oven, and a scruffy mutt named Bocce with the belief that dogs deserve better. Better food with fresher, simpler, all-natural ingredients, and lots of treats! Bocce’s treats can now be found nationally – stocked in independent pet stores across the US, retailers such as Target, Petco, Chewy, and specialty locations such as Shake Shack. To learn more, visit: www.boccesbakery.com

About Antelope

Antelope was founded in August 2021 with the mission to elevate the lives of all pets by delivering the highest quality products across all consumable categories. Antelope aims to buy, build and grow the best pet consumable brands across all verticals. Business owners interested in learning more about partnerships with Antelope should contact Tyler Frances at tyler@alpineinvestors.com. To learn more, visit: www.antelopepets.com.

About Alpine Investors

Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in companies in the software and services industries. Its PeopleFirst strategy includes a CEO program which allows Alpine to bring leadership to situations where additional or new management is needed post-transaction. Alpine is currently investing out of its $2.25 billion eighth fund. For more information, visit www.alpineinvestors.com.

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EQT Infrastructure and GEH to sell GETEC to IIF

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EQT and GEH to sell GETEC, one of Europe’s leading sustainable energy service companies for real estate and industrial customers, to IIF

GETEC operates more than 11,500 energy generation assets across nine European countries with more than 5.2 GWth cumulative installed capacity, saving more than 610,000 tons of CO2 annually

Since EQT acquired control in 2017, GETEC has embarked on a transformative journey, from a German and founder-focused business to a leading sustainable energy contracting solutions specialist of pan-European scale, by investing in sales and operational excellence, digital capabilities, and sustainability initiatives, as well as value accretive bolt-on acquisitions

EQT and GETEC Energie Holding (GEH, the family holding of Dr. Karl Gerhold) are pleased to announce that EQT Infrastructure III fund (“EQT Infrastructure”) and GEH have agreed to sell their respective stakes in G+E GETEC Holding GmbH (“GETEC” or the “Company”) to the Infrastructure Investments Fund (“IIF”), an investment vehicle advised by J.P. Morgan Investment Management. The agreement is subject to customary regulatory approvals and the transaction is expected to close by the end of Q1 2022.

Headquartered in Magdeburg, Germany, GETEC offers tailor-made, efficient, and sustainable energy solutions to industrial and real estate companies, designed and realized by a pool of highly qualified engineers. The Company was founded by Dr. Karl Gerhold in 1993 and today operates more than 11,500 energy generation assets across nine European countries with more than 5.2 GWth cumulative installed capacity and over 2,200 employees. Highly integrated into its customers’ operational processes, GETEC provides mission-critical services under long-term contracts.

Since welcoming EQT Infrastructure as new majority shareholder in 2017, GEH and EQT Infrastructure have jointly undertaken a series of initiatives to future-proof GETEC, driven by a new management team of seasoned executives led by CEO Thomas Wagner, and supported by a high-caliber industrial advisory board. Significant achievements include developing a best-in-class sales function, optimizing GETEC’s operations, digitalizing the plant portfolio and expanding its green solution offering.

In addition to delivering a strong organic growth track-record, with the support of EQT Infrastructure and GEH, GETEC has expanded from a German into a pan-European market leader through six large-scale M&A bolt-ons, establishing a strong foothold in Switzerland, Italy and the Netherlands.

GETEC has demonstrated its sustainability leadership through a comprehensive and well-substantiated net-zero roadmap through to 2045. Its achievements to date include tripling the share of revenues generated from renewable sources and saving more than 610,000 tons of CO2 annually for its customers.

EQT Infrastructure, GEH and the management of GETEC are confident that IIF is the right partner to continue this exceptional progress and further advance GETEC’s mission to support industrial and real estate customers throughout Europe on their decarbonization journey.

Matthias Fackler, Partner within EQT Infrastructure’s Advisory Team, said, “GETEC has been at the centre of the European energy transition since the company was founded in 1993, and we are proud to have accelerated this critical mission over the past five years. Sustainable impact requires setting ambitious and measurable targets, which have been achieved across the board. It has been a pleasure to partner with Thomas and the management team, each of whom have done a fantastic job implementing the value creation plan, building a leader with European scale, and executing an industry-leading sustainability agenda. Today, GETEC is exceptionally well positioned to continue leading and benefiting from the global focus on decarbonization, thereby setting it up to achieve superior long-term growth.”

Thomas Wagner, CEO of GETEC, added, “Through the cooperation with EQT Infrastructure and GEH, GETEC has taken a huge step towards becoming Europe’s leading provider of decentralized energy services. Over the past five years, we more than doubled our revenue and assets, tripled our employee base and expanded our European presence into nine countries. With IIF, we have gained a long-term oriented owner that is highly experienced in the decentralized energy generation sector. Together, we will continue our journey of growth and decarbonization.”

Matthew LeBlanc, Chief Investment Officer for IIF said, “We are delighted to invest in GETEC, a leader in sustainable energy services and a strategic platform uniquely positioned as a catalyst for the energy transition across Europe. We are excited to build upon the unparalleled track record of growth and innovation delivered by EQT Infrastructure, Dr. Karl Gerhold and the management team and look forward to the significant additional investment opportunities to support the collective growth ambitions of GETEC’s customers, employees and communities.”

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

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EQT Infrastructure to acquire Icon Group, Australia’s largest integrated cancer care provider

EQT Infrastructure has agreed to acquire Icon Group from a consortium including Goldman Sachs Asset Management, QIC and Pagoda. Goldman Sachs Asset Management will remain a minority shareholder as part of the transaction

Icon Group is Australia’s largest vertically integrated cancer care provider, offering radiation oncology, medical oncology, compounding and pharmacy services through a network of facilities across Australia, New Zealand, Singapore, Hong Kong and mainland China

EQT Infrastructure will leverage its significant healthcare sector experience and global advisory network to support Icon in providing patients with high-quality cancer treatment, while supporting Icon Group’s domestic and international growth ambitions

EQT is pleased to announce that EQT Infrastructure V (“EQT Infrastructure”) has agreed to acquire Integrated Clinical Oncology Network Pty Ltd (“Icon Group”, “Icon” or the “Company”) from a consortium including Goldman Sachs Asset Management, QIC Private Capital Pty Ltd and Pagoda Investment Advisors. Current shareholder Goldman Sachs Asset Management, will retain a minority position, with Icon’s management and doctors also re-investing in Icon Group.

Icon Group is built on a strong vision to deliver the best care possible, to as many people as possible, as close to home as possible. As Australia’s largest vertically integrated cancer-care operator, Icon brings together all aspects of high-quality cancer treatment, including radiation oncology, medical oncology, compounding and pharmacy, to deliver an end-to-end seamless service for cancer patients.

Icon Group currently operates 31 Radiation & Medical Oncology clinics in Australia and New Zealand, delivering more than 260,000 treatments per year across the two countries. Over the last few years, the Company has also expanded into Asia with 14 clinics across Singapore, Hong Kong, and mainland China. Icon Group also operates Australia’s largest private cancer clinical trials program with a growing reach across the global Icon network. Icon also produces more than one million cancer drug infusions per year through its compounding business and operates a network of 51 hospital pharmacies. Icon’s doctors and clinicians have enabled it to consistently deliver world-class cancer care to its patients.

The healthcare sector is aligned with EQT’s purpose-driven investment approach, with EQT having made more than 40 investments in the sector over the past two decades, with around 20 investments during the past five years. Icon is EQT’s fourth investment in radiology & radiotherapy, having also previously owned I-MED, the largest diagnostic imaging provider in Australia as well as recently acquiring both Blikk and Meine Radiologie Holding, which together operate more than 60 radiology, radiotherapy, and nuclear medicine locations across Germany. EQT will leverage its experience and demonstrated digitalization capabilities to support Icon’s drive for better and more advanced treatment of cancer patients and continued domestic and international expansion.

Ken Wong, Partner and Head of EQT Infrastructure Asia Pacific’s Advisory Team, said, “Icon Group is revolutionising the way cancer care is delivered through an integrated model that enables access for all patients through the decentralisation of care in major cities and bringing cancer care services to the patient in one location. This best practice cancer care model is well validated in Australia and South-East Asia, and EQT’s investment will enable this next phase of growth around the world. It’s an exciting time to be involved in Icon, and importantly for EQT to be a partner in bringing this model of care to all cancer patients.”

Stephanie Hui, co-head of alternatives investing at Goldman Sachs Asset Management in Asia, said, “In our four years as majority investor, the strength of the Icon Group model has been proven and there is potential for further growth in the years to come. Remaining as a shareholder, we will leverage our global network, capital and industry expertise to continue to support Icon’s management and doctors.”

Mark Middleton, Icon Group Chief Executive Officer, said, “Icon’s commitment to innovation and the delivery of cancer care is limitless. Our international network has a track record of delivering world-class cancer care to areas of unmet need. Now, we can drive the next phase of global growth and market leadership through further investment in critical infrastructure and cutting-edge technologies. We are proud to have partnered with EQT, a company that shares our values and will enable progress to deliver on this goal, and in turn provide for more patients.”

EQT Infrastructure was advised by Morgan Stanley, Herbert Smith Freehills, Deloitte, and PwC.

With this transaction, EQT Infrastructure V is expected to be 60-65 percent invested (including closed and/or sign investments, announced public offers, if applicable, and less any expected syndication), subject to approval.

Contact
Australian media inquiries: Jim Kelly jim@domestiqueconsulting.com.au, +61 412 549 083
International media inquiries: EQT Press Office press@eqtpartners.com, +46 8 506 55 334

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Espresso Capital closes $200 million credit facility led by KeyBank

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Toronto — November 19, 2021 — Espresso Capital announced today that it has closed a $200 million credit facility from KeyBank, one of the largest bank-based financial services companies in the United States. A leading provider of innovative venture debt solutions, Espresso will use the facility to further expand its lending activities to high-growth technology and healthcare companies.

“We’re excited to welcome KeyBank as a funding partner,” said Espresso Chief Operating Officer and CFO, Enio Lazzer. “Securing this facility is an important milestone that further expands our capacity to support borrowers with innovative venture debt solutions. The KeyBank facility complements Espresso’s existing facilities with BMO Bank of Montreal and Scotiabank.”

Since it was founded in 2009, Espresso has funded more than 300 companies across the United States, Canada, and the United Kingdom. Espresso’s financing solutions help companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital.

“We’re delighted to have Espresso among our growing portfolio of high-quality growth capital lenders,” said Rian Emmett, Group Head, Executive Vice President, Specialty Finance Lending, at KeyBank. “We specialize in providing financing to firms like Espresso and are pleased to be able to help enable their continued growth.”

About Espresso Capital

Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 300 technology companies and their investors accelerate growth, extend runway and increase strategic flexibility with non-dilutive capital. Learn more at espressocapital.com.

 

 

Media contact

Kevin Cain
Head of Marketing, Espresso Capital
kcain@espressocapital.com

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