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ARBOR INVESTMENTS ANNOUNCES INVESTMENT IN ULTRA-PREMIUM RAW PET FOOD MANUFACTURER, CARNIVORE MEAT COMPANY

Arbor Investment

Arbor Investments (“Arbor”), a specialized private equity firm that focuses exclusively on investing in food, beverage and related industries announced today their investment in, and partnership with ultra-premium freeze-dried and frozen raw pet food manufacturer Carnivore Meat Company (“Carnivore” or the “Company”). The transaction marks the fourth platform investment for Arbor Fund V. Terms of the deal were not disclosed.

Founded in Green Bay, Wisconsin by entrepreneur and CEO Lanny Viegut in 2012, Carnivore is among the largest pure-play freeze-dried raw pet food producers in North America, manufacturing unique freeze-dried and frozen raw pet food, snacks and treats. A pioneer in raw pet food, Carnivore’s state-of-the-art manufacturing facilities and proprietary freeze-drying process are strongly positioned to meet rapidly growing demand, fueled by discerning pet parents worldwide who are seeking nutritious and delicious alternatives to traditional pet foods.

Carnivore’s all-meat freeze-dried products are safe, convenient, and shelf-stable, making them ideal for traveling, training, snacking and everyday feeding. These highly differentiated products are marketed under the Company’s family of brands including flagship brand Vital Essentials®, Vital Cat®, VE RAW BAR™ and the most recently launched Nature’s Advantage® line. The Company’s branded products are distributed to over 7,200 retailers in the U.S. and Canada, online including via Chewy and Amazon, and in 14 international markets. In addition, Carnivore is a trusted partner to a number of co-manufacturing and private label customers.

“Carnivore has been blessed with incredible growth and we see acceleration at an even faster rate in the future,” said Viegut. “When we saw this opportunity to partner with a team who completely match us in culture, values and beliefs…and who share the same commitment to manufacturing premium quality food products, we just had to say, “YES”! This partnership will help us stay ahead of the ever-increasing demand for our 100% raw protein products. Carnivore and Arbor are a perfect fit and the timing couldn’t be better. With our combined experience and expertise, along with Arbor’s resources, we will continue scaling quickly to stay ahead of the incredible demand curve for our ultra-premium quality raw pet foods and treats.”

Under Viegut’s leadership, Carnivore was recently named to Inc. 5000’s list of America’s fastest growing private companies for a third consecutive year. Viegut and senior leadership of the Company will continue in their operating roles leading the business.

“The Carnivore team have developed distinctive products with a fanatical customer base,” stated Arbor Partner Chris Tuffin. “The freeze-dry sector is seeing meteoric growth as pet parents learn about the unrivaled benefits of a raw diet. We look forward to bringing our resources and capital to help increase capacity and support the step-change acceleration in the Company’s growth.”

“Lanny and his team have built something truly incredible, not only in terms of product, but in terms of a unique culture,” said Arbor President Carl Allegretti. “The Carnivore team’s customer-centric approach and ‘find ways to say yes’ attitude across the organization is a clear driver of their tremendous success, and a seamless fit with Arbor’s hands-on approach. We couldn’t be more excited about our new partnership.”

Winston & Strawn LLP served as Arbor’s legal counsel in connection with the transaction. Houlihan Lokey served as Exclusive Financial Advisor and Godfrey & Kahn served as legal counsel to Carnivore.

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Advent International raises $4 billion for second global technology fund

Advent International
  • Advent Tech II exceeds $3 billion target and reaches $4 billion hard cap in six months
  • New fund is double the size of its predecessor, Advent Tech, which has invested in 20 companies since its launch in 20191
  • Dedicated tech team will leverage Advent’s global reach, cross-sector network and ecosystem of company-building resources to help businesses scale

PALO ALTO, NEW YORK, BOSTON and LONDON, December 9, 2021 – Advent International, one of the largest and most experienced global private equity investors, today announced that it has completed fundraising for Advent Global Technology II (“Advent Tech II”), its second dedicated technology fund. Advent Tech II exceeded its target of $3 billion by 33% and reached its hard cap of $4 billion after six months in the market.

The new fund is double the size of its predecessor, Advent Tech, which has invested in 20 software, data and cybersecurity companies since its launch in 2019.1 Following the same strategy as the prior fund, Advent Tech II will back innovative companies led by visionary management teams, focusing on high-growth acceleration and complex transformation opportunities. It will invest mainly in North America and Europe and selectively in other global markets where Advent has an established presence. A dedicated team of 27 tech specialists based in Palo Alto, New York, Boston and London will deploy the new fund.

“We launched Advent Tech two years ago to bring the power of Advent to tech investing,” said Bryan Taylor, Managing Partner and head of Advent’s technology team. “The strong support from existing and new investors in our second fund is a validation of our strategy and approach. With our global reach, deep cross-sector network and vast ecosystem of company-building resources, we believe we’re ideally positioned to help businesses innovate and grow at scale.”

“Core to our strategy are two underlying beliefs,” said David Mussafer, Managing Partner and Co-Chair of Advent’s Executive Committee. “First, that tech is a horizontal, impacting virtually every industry and business. Second, that tech is one ecosystem, where success means understanding both disruptors and incumbents. These beliefs help us partner with the most promising innovators of today with the goal of building them into the market leaders of tomorrow.”

Deep cross-sector network
“Our 30-year history of investing in multiple industries gives us the knowledge and relationships to help tech companies disrupt their markets,” said James Brocklebank, Managing Partner and Co-Chair of Advent’s Executive Committee. “At the same time, our tech team provides us with greater visibility on disruption in all of our sectors and improves our ability to apply technology-driven value creation plans in our portfolio companies worldwide.”

One team, flexible capital
In addition to investing the new fund, the tech team makes technology investments for Advent’s $17.5 billion Global Private Equity IX (“GPE IX”) fund. “This gives us the flexibility to invest across a broad spectrum of deal sizes and types,” said Lauren Young, a Managing Director on Advent’s tech team. “With the tech fund alone, we can make smaller investments—from $50 million of equity—in early disruptors. Together with GPE IX, we can deploy $2 billion or more in established, market-leading incumbents.”

“The tech ecosystem thrives from a constant cross-pollination of ideas, talent and customers,” said Eric Wei, a Managing Director on Advent’s tech team. “Having one team with extensive experience across the growth continuum enables us to identify and support ambitious tech companies, whether they’re seeking a minority growth round or a billion-dollar investment to fuel accelerated growth or major transformation.”

Strong investment momentum
Building on Advent Tech’s momentum, Advent has already closed or signed four investments for Advent Tech II.2 It co-led an investor group that agreed to acquire McAfee Corp. (Nasdaq: MCFE), a global leader in online protection, for over $14 billion in the largest-ever take-private of a software company.3 It also invested in Iodine Software, a leading healthcare AI company, and Tekion, developer of a cloud-native SaaS platform for the automotive retail industry. The fund’s fourth investment has not yet been announced.

Diverse investor base
Advent Tech II received commitments from a diverse group of institutional investors around the world. These include public pension funds, endowments, foundations, family offices, sovereign wealth funds, funds of funds, insurance companies and corporate pension funds. More than 90% of the committed capital came from Advent’s existing investor base, with the remaining commitments provided by a select number of new investors.

In addition to Advent Tech II and GPE IX, Advent is investing its seventh Latin American private equity fund, LAPEF VII, capitalized at $2 billion.

This press release is not an offer or solicitation of an offer, or an invitation or inducement, to invest in any Advent International fund. No person may invest in any Advent International fund except in accordance with and subject to the terms of the applicable fund documentation and applicable law.

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 companies in 42 countries, and as of June 30, 2021, had $81 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 250 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology. After more than 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:

Advent Tech: adventtech.com
Advent Global: adventinternational.com

1 Includes two pending transactions. Advent cannot ensure any pending transactions will be completed.
2 Includes two pending transactions. Advent cannot ensure any pending transactions will be completed.
3 Dealogic

Media contacts

US
Anna Epstein or Sophia Templin
Finsbury Glover Hering
Tel: +1 646 805 2000
Adventinternational-US@finsbury.com

UK
Graeme Wilson or Harry Cameron
Tulchan Group
Tel: +44 20 7353 4200
Advent@tulchangroup.com

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KKR Launches Stellar Renewable Power

KKR

New platform to originate long-duration, high yielding solar energy investments through greenfield development and acquisitions

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the launch of Stellar Renewable Power (“Stellar”), a new platform that will source, develop and operate utility-scale solar plants and storage facilities on behalf of KKR’s Asset-Based Finance (ABF) strategy. Stellar will source opportunities through greenfield development and acquisitions of early-stage assets from other developers.

Vijay Venkatachalam, a renewable energy expert with extensive experience developing utility-scale solar energy projects, will lead Stellar. Mr. Venkatachalam has spearheaded the development of nearly seven gigawatts of utility scale solar capacity in the United States and India, and he will be building out Stellar’s team of talented solar energy professionals over the coming months.

“As the need for renewable energy continues to grow substantially, we look forward to working together with Vijay and his team to source and develop high-quality solar energy investments that are a strong fit for our long-term capital,” said Christopher Mellia, Managing Director at KKR.

“As long-term investors in renewable energy, we see tremendous potential to build a leading, differentiated solar development platform,” said Anup Agarwal, Chief Investment Officer of Global Atlantic, a majority-owned subsidiary of KKR. “With Vijay’s leadership and the support of KKR and Global Atlantic, Stellar will be well-positioned to capitalize on the significant growth opportunities that we are seeing in this space.”

“Demand for clean power is greater now than ever before and I’m confident that with KKR’s strong backing, Stellar has the right foundation, resources and expertise to create an industry leading renewable energy platform on a global scale,” Mr. Venkatachalam said.

Funding for the platform’s activities will come from separate insurance accounts managed by KKR.

KKR has deployed more than $5 billion in 49 ABF investments globally since 2016. KKR’s portfolio includes several proprietary loan origination platforms focused on themes in consumer/mortgage finance, hard assets, SME and contractual cash flows. KKR has established these lending businesses in partnership with experienced industry management teams to pursue specific lending markets that the firm finds attractive.

About Stellar Renewable Power

Stellar Renewable Power is a solar development platform established by KKR. Stellar sources, develops and operates utility-scale solar plants and storage facilities on behalf of KKR’s Asset-Based Finance (ABF) strategy through a combination of greenfield development and acquisitions. Led by talented solar energy professionals, Stellar plans to open offices in India and Dallas, Texas.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media Contacts:
Julia Kosygina or Miles Radcliffe-Trenner
(212) 750-8300
media@kkr.com

Source: KKR & Co. Inc.

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EQT Private Equity to invest in 3Shape, a global leader in digital dentistry

eqt

EQT Private Equity to acquire a minority stake in 3Shape, a global leading player and innovator in digital dentistry focused on intra-oral scanners, CAD and CAM software for dental clinics and the dental lab market

3Shape’s products are at the forefront of driving digitalization of dentist workflows, reducing material consumption and improving preventive care and patient outcomes

3Shape will leverage the expertise from EQT’s in-house digitalization team, global healthcare sector team, and global advisory network, in its next chapter of growth, focusing on continued international expansion and roll-out of additional digital services

EQT is pleased to announce that the EQT IX fund (“EQT Private Equity”) has agreed to acquire a 20 percent stake in 3Shape (the “Company”) from its founders, who will remain majority shareholders in the Company. Together with the founders and management, EQT Private Equity will support and accelerate execution of 3Shape’s strategic vision to continue to lead the digitalization of the global dental industry.

Based in Copenhagen, Denmark, 3Shape is a global leader in digital dentistry and provides state of the art intra-oral scanning solutions, CAD (Computer Aided Design) and CAM (Computer Aided Manufacturing) software for dentists and dental laboratories in over 100 countries. The Company was founded in 2000 and employs more than 1,900 people in Europe, Americas and Asia, of which approximately 500 sit in R&D.

3Shape operates in a highly attractive sub-segment of the Dental Equipment and Software market growing at around 15 percent per year, driven by the digitalization of dental workflows to provide improved and more efficient care. The market is supported by long-term secular growth drivers including an aging population, higher disposable income, and increasing demand for aesthetic treatments. 3Shape is uniquely positioned at the nexus of the digital workflow to drive the digital transformation, and thereby improving patient care and reducing the environmental footprint of analogue supply chains and processes.

EQT Private Equity will support 3Shape’s vision to further internationalize and drive significant global growth while continuing to innovate and deliver unique digital solutions globally. The Company will be able to leverage and benefit from the full EQT platform, including EQT’s in-house digital teams, its global healthcare sector team, the broad experience from EQT’s advisory network, as well as strong ESG capabilities, to support 3Shape’s continued growth journey.

Mads Ditlevsen, Partner within EQT Private Equity’s Advisory Team, commented, “Having followed 3Shape closely for more than a decade, we are highly impressed with its high pace of innovation and ability to drive the digitalization of the dental industry, cementing its position as a global market leader. We see significant global potential for 3Shape and EQT looks forward to contributing to its continued development in close collaboration with its founders, board and the management team.”

Michael Bauer, Partner and Co-Head of Healthcare within EQT Private Equity’s Advisor team, added, “We are very excited about the opportunity to partner with the 3Shape team and take an active role in its next growth phase. This investment is a testimony to EQT’s healthcare strategy and dedication to invest in global leading healthcare companies within attractive high-growth subsectors, which 3Shape is a perfect example of.”

Jørgen Jensen, Chairperson of 3Shape commented, “We are pleased with the confidence that EQT has shown us by investing a substantial amount in becoming a co-owner of the company. This long-term partnership will strengthen 3Shape and help us deliver on our vision of continued innovation, and thereby delivering unique digital solutions for the global dental industry. At the same time, this investment from such an esteemed investor confirms the strength of 3Shape’s business model and the company’s very exciting future.”

Jakob Just-Bomholt, CEO of 3Shape, added, “EQT will undoubtedly contribute knowledge and experience to support 3Shape’s continued growth journey. We have great ambitions, and we will continue to be the world leader in digitizing dental care. Our scanners are used by more than one million patient scans each month, and this number will increase significantly going forward. With our technology, dentists can effectively automate and digitize work flows, while offering diagnostic services that can prevent dental problems. We will do this, among other things, through our next-generation technology and our new 3Shape Unite platform. There is significant potential to deliver digital services and products to dentists around the world and 3Shape is in a unique position to capture the potential and continue to strengthen our position as the market leader.”

EQT Private Equity was advised by FIH Partners (M&A), Accura (Legal), EY (Financial & Tax), Ringstone (Technology), and The Footprint Firm (ESG). The transaction is expected to close during Q1 2022.

With this transaction, EQT IX is expected to be 75-80 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

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

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EIB and Tesi: €100 million in new financing for Finnish SMEs

Tesi

PRESS RELEASE                                                                                                                            Helsinki/Luxembourg, 8 December 2021

  • European Investment Bank (EIB) signs up to €100 million co-investment facility with Finnish state-owned private equity company Tesi, in support of local SMEs hit by COVID.
  • Both parties will invest €50 million, mainly targeted at innovative SMEs whose growth was hampered by the pandemic and have no easy access to venture capital.
  • The EIB financing falls under the European Guarantee Fund, part of the €540 billion COVID-package agreed by EU Member States in spring 2020.

The European Investment Bank and Finnish state-owned private equity company Tesi have agreed a co-financing facility of €100 million, to aid Finnish SMEs finding their way out of the COVID-related economic difficulties. Both parties will invest half of the total €100 million, which will be deployed in the form of quasi equity to innovative Finnish SMEs.

EIB Vice-President Thomas Östros stated: “This facility targets companies in key strategic areas for the development of the EU’s economy. COVID-19 has oftentimes reduced these companies’ access to equity capital and thereby hampered their growth and innovation. With the EGF guarantee behind us, we partner once again with Tesi, to build on their experience and make sure that those SMEs have access to the finance they need.”

“I’m very pleased with our fruitful co-operation with EIB-group in building up much needed tailor-made financial tools in order to remove financial bottlenecks faced by Finnish growth companies”, added Mika Lintilä, Minister of Economic Affairs.

“We are very happy to continue our partnership with EIB with this new co-investment facility. It enables larger financing rounds, improves ability to make significant investments and channel EU equity financing to Finnish growth companies”, says CEO of Tesi Jan Sasse.

The co-investment facility will have an investment period of three years and focus on capital-intensive technology sectors such as ICT, healthcare and industrial/deep tech. All of these are key strategic areas for the development of the EU’s economy, making the case for supporting their growth and innovation.

The co-investment facility will be managed by Tesi and the roll-out will happen at the beginning of 2022. The funding is structured to be complemented by minimum 50% share private sector co-investments.

Background information:

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2020, the Bank made available in excess of €676 million in loans for Finnish projects. The EIB borrows money on capital markets and lends it to projects that support EU objectives, with about 90% of all loans being granted within the European Union.

The European Guarantee Fund (EGF) was set up by the EIB Group with contributions from Finland and other EU Member States to shield companies suffering from the COVID-19 crisis. Using nearly €25 billion in guarantees, the EGF allows the EIB and the EIF to quickly make loans, guarantees, asset-backed securities, equity and other financial instruments available to mostly small and medium-sized enterprises. The EGF is part of the European Union’s recovery package aiming to provide a total of €540 billion to boost those parts of the EU economy that have been hit the worst.

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

Press contacts:

EIB: Tim Smit, +352 691 286423, t.smit@eib.org – Twitter and Instagram
Tesi: Susanna Aaltonen, +358 40 593 4221, susanna.aaltonen@tesi.fi

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Ardian arranges a €109 million unitranche financing to support SEVETYS, a leading independent operator of veterinary clinics in France

Ardian

Ardian, a world leading private investment house, today announces the arrangement of a unitranche facility to support SEVETYS (formerly known as Vet Dev) in its acquisition of 50 additional veterinary clinics in France. The financing package also includes a dedicated committed acquisition line to support the Group in its future buy-and-build strategy.
Headquartered in Paris, SEVETYS is one of the leading operators of veterinary clinics in France with approximately 100 clinics. Organized as a hub-and-spoke model, the Group provides complete veterinary services from generalist care and vaccination to more complex surgical procedures. SEVETYS is known for its high-quality offering, thanks to its skilled practitioners and high-grade equipment, and occupies a leading position in France. The company forecasts to generate c. €60 million of revenues in 2021.

SEVETYS is a leading independent group supported by French private investors and veterinarians, who have chosen Ardian Private Debt as a financing partner, thanks to its tailor-made unitranche financing, which combines flexibility and rapidity of execution.

SEVETYS has been established with the objective of consolidating the growing and fragmented French veterinary market. With a total of over 6,000 clinics but only c.10% being part of large groups, the French market presents much lower consolidation levels than other countries such as the UK (c.50%) or Scandinavia (c.70%). The market has been consolidating at a fast pace over the past months, with SEVETYS being one of the fastest growing groups.

“SEVETYS has an impressive growth story and we are pleased to support the Group and its management team in this new chapter of development. We are confident that SEVETYS will continue to grow both organically and via strategic acquisitions in the French market, which is consolidating rapidly, and we believe that our financing solution is ideally suited to this purpose.” JEAN-DAVID PONSIN, MANAGING DIRECTOR IN THE PRIVATE DEBT TEAM AT ARDIAN

“We have an ambitious development strategy that requires a solid yet flexible financing solution. With this unitranche financing, our intention is to accelerate our growth strategy even further and solidify SEVETYS’ position as one of the leading operators in France. We are confident that Ardian will be a valuable long-term partner that will support the Group as it expands.” DANIEL EINHORN, CEO OF SEVETYS

PARTIES TO THE TRANSACTION

  • SEVETYS

    • Daniel Einhorn, Alexandre Brevault
    • Financing Legal Advisor: Goodwin (Adrien Paturaud, Alexander Han)
    • M&A Advisor: Rothschild (Pierre Pessans, Thomas Lenoble, Côme Sesboué, Augustin Viellard)
    • Financial VDD: Oderys (Thomas Claverie, Andoni Balaguer, Benjamin SUPIOT)
    • Corporate Legal Advisor: Winston & Strawn (Julie Vern, Gilles Bigot, Myriam Saragouss)

  • Ardian

    • Jean-David Ponsin, Gabrielle Philip, Hadrien Barnier
    • Financing Legal Advisor: Willkie Farr & Gallagher (Paul Lombard, Laurence Raud, Martin Jouvenot, Nolwenn Poisson)

ABOUT SEVETYS

SEVETYS is one of the leading operators of veterinary clinics in France with approximately 100 clinics. Organized as a hub-and-spoke model, the Group provides complete veterinary services from generalist care and vaccination to more complex surgical procedures. SEVETYS is known for its high-quality offering, thanks to its skilled practitioners and high-grade equipment, and occupies a leading position in France. The company forecasts to generate c. €60 million of revenues in 2021.

www.sevetys.fr

ABOUT ARDIAN

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

www.ardian.com

Media Contacts

ARDIAN – Headland

VIKTOR TSVETANOV

vtsvetanov@headlandconsultancy.co.uk Tel.: +44 207 3435 7469

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Avistone Pharmaceuticals Secures $200 Million Strategic Investment from Vivo Capital, Bain Capital and Primavera Capital

BainCapital

The strategic investment will also support the accelerated development of Avistone’s existing drug candidates, expand its product pipeline through both research and development efforts and business development, enable the combined business to capitalize on opportunities in key markets outside of China, and scale its capabilities to prepare for commercialization.

Based in Beijing, China, Avistone has been committed to the development of precision oncology therapeutics for nearly a decade and has a broad oncology pipeline focused on treatments for lung cancer.  The Company’s most advanced asset is a c-Met inhibitor in late-stage clinical development for genetically-defined populations of non-small cell lung cancer (NSCLC) and glioblastoma (GBM).  This product candidate has been awarded Breakthrough Therapy designation by China’s National Medical Products Administration (NMPA).  In addition, Avistone has an innovative pipeline of tyrosine kinase inhibitors for other molecular drivers of cancer that includes another drug candidate currently in a Phase I dose escalation clinical study.  The Company also has several therapeutic compound candidates in pre-clinical and IND-enabling studies.

“Avistone is a science-driven, innovative biotechnology company committed to the discovery and clinical development of first-in-class and best-in-class drugs,” said Dr. Hepeng Shi, Chairman, CEO, and Founder of Avistone.  “We are thrilled for our company, team, and product pipeline to be recognized by such well-established global life sciences investors as Vivo Capital, Bain Capital, and Primavera Capital.  We look forward to leveraging their resources and capabilities to realize our vision to become a global oncology leader that provides more effective treatment options and improves quality of life for patients around the world.”

“Vivo Capital is excited to have the opportunity to lead this transformative financing for Avistone.  The deal exemplifies Vivo’s investment capabilities in both innovation and private equity transactions in China, as well as extraordinary collaborations both internally, led by Drs. Hongbo Lu and David Liu, and externally, joined by Bain Capital and Primavera Capital.” said Shan Fu, Managing Partner and CEO of Greater China for Vivo Capital.  “As a global biotech investor with 25 years of history, Vivo is excited to witness the rapid emergence of the Chinese biotech industry. We have known the Avistone team for many years, and we see tremendous value in Avistone’s capabilities in both innovative drug R&D and execution in China.  We look forward to partnering with Bain Capital and Primavera Capital to help Avistone bring life-saving therapeutics to patients around the world,” added Dr. Hongbo Lu, Managing Partner and CIO of Greater China for Vivo Capital.

“Over the past several years, Bain Capital Life Sciences and Bain Capital Asia Private Equity have systematically studied the life sciences landscape in China to identify the most attractive therapeutic areas and the most promising companies, and this exciting investment represents a culmination of our cross-platform efforts,” said Ricky Sun, a Managing Director at Bain Capital Life Sciences.  “We are excited to collaborate with Dr. Shi and his team, and to provide the necessary resources to enable the Company to build a best-in-class targeted oncology platform that brings transformative products to patients all over the world.”

“The era of precise and personalized cancer treatment has arrived after years of development. However, there are still considerable clinical needs that have not been met,” said Jiaqi Zheng, Managing Director of Primavera Capital. “As pioneers in the China pharmaceutical industry, Dr. Shi and his team have accumulated a great deal of expertise in drug discovery and clinical development of targeted therapies.  We are delighted to become an investor and strategic partner of Avistone and are committed to supporting the Company’s mission of becoming a leading global biopharmaceutical platform of innovative precision therapeutics.”

About Avistone Biotechnology
Avistone is a clinical-stage biotechnology company based in Beijing, China, focusing on researching and developing innovative therapies for patients with significant unmet medical needs globally. The company’s core team comprises experienced drug design and clinical development experts, supported by a scientific advisory committee that includes internationally renowned KOLs. Avistone has an extensive pipeline of targeted therapies for molecular drivers of cancer, including two clinical-stage drug candidates and several ongoing programs in the pre-clinical development stage.

About Vivo Capital
Founded in 1996, Vivo Capital is a leading global healthcare investment firm with a multi-fund investment platform in venture capital, growth equity, buyout, and public equities. Vivo has approximately $5.8 billion in assets under management and has invested in over 315 public and private companies worldwide. Headquartered in Palo Alto, California, with additional offices in Asia, the Vivo team is comprised of diverse talents spanning scientific, operating, and financial backgrounds, working collaboratively via a single team approach.  Vivo invests broadly in healthcare across all sub-sectors in the healthcare industry, including in biotechnology, pharmaceuticals, medical devices, life science tools, diagnostics, health tech and healthcare services.

About Bain Capital
Founded in 1984, Bain Capital, LP is one of the world’s leading private multi-asset alternative investment firms with offices on four continents and deep experience in healthcare. Bain Capital manages approximately $150 billion across asset classes and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.  Bain Capital Life Sciences (www.baincapitallifesciences.com) pursues investments in biopharmaceutical, specialty pharmaceutical, medical device, diagnostics and enabling life science technology companies globally. The team focuses on companies that both drive medical innovation across the value chain and enable that innovation to improve the lives of patients with unmet medical needs.  Bain Capital Private Equity (http://www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive. A team of more than 275 investment professionals creates value for portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare.

About Primavera Capital
Primavera Capital is a premier China-based global investment firm with offices in Beijing, Hong Kong, Singapore and Silicon Valley. Founded by respected economist Dr. Fred Hu in 2010, Primavera Capital manages approximately USD 15 billion in assets across both RMB and USD funds for leading institutions, corporations and prominent family offices around the world. Primavera Capital seeks the best opportunities from China’s historic transition from a middle-income to an advanced economy and focuses on consumer and retail, technology, healthcare, financial services, and carbon neutrality related sectors.

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AnaCap’s portfolio company MRH Trowe makes 11th bolt-on acquisition in a year with speciality broker Helmig & Partner

Anacap

Acceleration of buy-and-build strategy with 11th add-on acquisition within 12 months making 2021 the most active year in the Group’s history in terms of deal execution

– Expansion of MRH Trowe’s client coverage now complemented by specialty broker Helmig & Partner

– Geographical footprint and sales capabilities strengthened in the North Rhine-Westphalia region of Germany

AnaCap Financial Partners (“AnaCap”), a leading specialist mid-market private equity investor in technology enabled financial services, today announced that its portfolio company MRH Trowe (“MRHT” or “the Group”), a leading owner managed commercial lines insurance broker in Germany,  has successfully signed its 11th bolt-on acquisition of the year with Olfen-based speciality broker Helmig & Partner (“the Company”).

Helmig & Partner is the nationwide leading speciality broker for bakery chains, currently serving more than 300 clients in the sector with 44 employees and a wide range of pension and non-life insurance products. The Company is one of the strongest franchises of North Rhine-Westphalia, having grown its turnover by more than 15% on average over the past 3 years.

This latest acquisition, which is expected to close in January 2022, underpins the strategic roadmap undertaken by the Group aimed at expanding in-house capabilities in specialty lines insurance and strengthening its geographical coverage. In Helmig & Partner, MRHT has identified the right add-on to complement its customer target group and consolidate its presence in Western Germany. This addition allows the Group to fortify its local sales capabilities and better serve its network of saving banks, while generating revenue synergies from cross-selling initiatives.

The acquired company, whose founding managers will remain operationally involved in line with MRHT’s historical M&A approach, is expected to contribute €5 million of revenue to the Group in 2022. As a result of the acquisition, the Group is now on track to deliver more than €80 million of run-rate revenue.

Ralph Rockel, Co-Founder and Board Member at MRH Trowe, commented:

Tassilo Arnhold, Private Equity Partner at AnaCap, added:

Dec 08 2021

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Mentha realizes stake in HB Returnable Transport Solutions following successful investment period

Mentha Capital

Mentha Capital (“Mentha”) has realised its investment in HB Returnable Transport Solutions (“HB” or the “Company”), a leading provider of rental, washing and integrated logistics for returnable transport items (“RTIs”) in the Dutch food supply chain. In early 2017, Mentha acquired a majority stake in HB alongside the Company’s founders and management. Over the past five years, Mentha has actively supported HB’s rapid growth and professionalization.

Arcus Infrastructure Partners (“Arcus”), through Arcus European Infrastructure Fund 2 SCSp (“AEIF2” or the “Fund”), acquired 100% of HB from its existing shareholders. As part of the transaction, HB senior management will reinvest in the Company alongside the Fund.

HB, founded in Welsum (the Netherlands) in 2008, provides an integrated offering of RTI rental, washing and logistics services to a diverse and blue-chip customer base in the Dutch food and beverage supply chain, ensuring the safe and sustainable transport of consumable products from suppliers to consumers. The main RTIs handled by HB are plastic crates and pallets, which serve as essential load carriers for products being transported from production locations to distribution centres, foodservice outlets and supermarkets across the Netherlands. These reusable load carriers are critical assets within the circular economy, ensuring reliable and efficient transport, while minimising the use of single-use, one-way packaging in a variety of fast-moving supply chains. With an asset pool of 2.8 million RTIs and a network of 10 strategically located washing and logistics facilities across the country, HB provides vital RTI logistics infrastructure and an integrated one-stop shop solution for its customers.

Commenting on the acquisition, Léon Rust, CEO of HB said: “First of all we want to thank Mentha for their great support over the last five years. Together with the Mentha team we made great effort in further professionalizing the company and growing the business. With Arcus as our new shareholder, we will embark on an exciting new phase of growth in our business. From our first meeting, it was clear that Arcus already had a deep knowledge of our industry, which serves as an important criteria for our team as we look to grow with a new partner. We look forward to working with the Arcus team as we improve and build on our core customer offering, explore new verticals within the RTI space and maximise the sustainability benefits of our business. Our belief is that our network of washing and logistics facilities, together with our extensive RTI pool, is a unique proposition to reduce transport distances (and therefore carbon footprint and logistics costs) within the food and beverage supply chain.”

Mark van Ingen, Partner at Mentha, commented: “It was a pleasure to team up with HB, its founders, management and employees. Over the past five years, everyone has worked very hard to further improve HB with the aim to strengthen its position as a leading RTI service provider in the Netherlands. Together we have invested in machines and automation, increased productivity, added new customers and bolstered the organisation. This has resulted in a strong and professional player in the RTI space. We are extremely proud of what has been accomplished and I would like to thank everybody for their contribution. With Arcus onboard we believe HB has found a very knowledgeable and committed partner to continue its journey to further improve and grow the company. We wish them all the best in their period of ownership and we will be interested to see how the company develops further.”

Ian Harding, Managing Partner at Arcus said: “We are extremely pleased to announce this investment in HB today. This acquisition is our seventh investment for AEIF2 and HB is a perfect fit with the Fund’s investment strategy of targeting mid-market, value-add infrastructure businesses in Europe. HB is a great addition to the Arcus portfolio.”

Jordan Cott, Arcus Partner who led the Fund’s acquisition said: “HB is a clear market leader in the RTI space in the Netherlands and has a proven track record of growth alongside its long-term customer base. The Company’s RTIs are essential assets within food and beverage supply chains, ensuring cost-efficient, reliable and sustainable transport of a wide range of products. These benefits are complemented by HB’s network of washing and logistics facilities, which are strategically located to enable customers to minimise transport distances and reduce the industry’s overall carbon footprint. We expect that HB and its customers will see significant and tangible benefits from strong RTI industry tailwinds over the coming years and look forward to working with Léon and the HB team as they continue to innovate and grow with their customers.”

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Centauri Health Solutions Adds Clinical Data Exchange Capabilities with Acquisition of Secure Exchange Solutions

Centauri Health Solutions (“Centauri”), an innovative healthcare technology and services company, announced today that it acquired Secure Exchange Solutions (“SES”), a Rockville, Maryland-based health information technology provider focused on physician connectivity and clinical data exchange. This addition expands Centauri’s comprehensive healthcare technology solutions, which already include Risk Adjustment, Quality, Medicaid and Disability Eligibility and Enrollment, Out-of-State Medicaid Billing, Revenue Cycle Analytics, and Referral Management and Analytics.

Secure Exchange Solutions is the leading platform provider of cloud-based clinical data exchange software. SES sets the standard for protecting, streamlining, and delivering sensitive and critical health care information while ensuring compliance and improving efficiency and quality. SES is connected to 90,000 healthcare organizations, and over 50 of the leading health information exchanges, providing integrated secure communications reaching more than 2.7 million healthcare professionals nationwide.  The combination of Centauri and SES creates a suite of solutions that accelerate improvement of patient care while addressing value-based care.

“SES is pleased to join a company that is built around the similar goal of leveraging technology to improve healthcare and patients’ lives,” said Michele Darnell, President of SES. “We are excited to couple our clinical data exchange platform with Centauri’s suite of data analytics and revenue and quality optimization products to provide comprehensive solutions that are unmatched in the marketplace.”

“The addition of SES empowers Centauri to support strategic client initiatives in the area of value-based care and clinical data exchange,” said Adam Miller, Centauri co-founder and CEO. “Promoting provider and payor collaboration through our standards-driven approach reduces time to implement and increases adoption versus proprietary software installation. In addition, our unique suite of solutions on the revenue side of the value-based care equation is additive to traditional solutions focused only on lowering the overall cost of care.”

The combined organization will be led by Miller, with Darnell continuing to oversee the SES division together with SES Chief Technology Officer Boris Shur. SES CEO Dan Kazzaz will engage strategically with Centauri by joining its advisory board.

The SES transaction was supported by Centauri’s lead investor, Abry Partners, and its other key investors, Silversmith Capital Partners and SV Health Investors. Truist Securities was the financial advisor to SES. Duane Morris LLP was the legal advisor to SES and Kirkland and Ellis was the legal advisor to Centauri.

About Centauri Health Solutions

Centauri Health Solutions provides technology and technology-enabled services to payors and providers across all healthcare programs, including Medicare, Medicaid, Commercial and Exchange. In partnership with our clients, we improve the lives and health outcomes of the members and patients we touch through compassionate outreach, sophisticated analytics, clinical data exchange capabilities, and data-driven solutions. Our solutions directly address complex problems such as uncompensated care within health systems; appropriate, risk-adjusted revenue for specialized sub-populations; and improve access to and quality of care measurement. Headquartered in Scottsdale, Ariz., Centauri Health Solutions employs 1700 dedicated associates across the country. Centauri has made the prestigious Inc. 5000 list since 2019, as well as the 2020 Deloitte Technology Fast 500™ list of the fastest-growing companies in the U.S. For more information, visit www.centaurihs.com.

About Abry Partners

Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over $90 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5 billion of capital across its active funds. For more information about Abry, please visit www.abry.com.

About Silversmith Capital Partners

Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $2.0 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Centauri Health Solutions, DistroKid, Impact, LifeStance Health, MediQuant, Panalgo, Unily, Validity, and Webflow. The partners have over 75 years of collective investing experience and have served on the boards of numerous successful growth companies including ABILITY Network, Archer Technologies, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Wrike. For more information about Silversmith, please visit www.silversmithcapital.com.

About SV Health Investors

SV Health Investors is a leading healthcare fund manager investing in tomorrow’s healthcare breakthroughs. SV invests across stages, geographic regions and sectors, with expertise spanning healthcare services / technology, medical products, biotechnology, dementia and public equities. With approximately $2.2B in assets under management and offices in Boston and London, SV has built an extensive network of investment professionals and experienced industry veterans. Since its founding in 1993, SV has invested in more than 175 companies, with more than 75 of these having achieved successful acquisitions or IPOs. For more information, please visit www.svhealthinvestors.com.

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