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Blackstone Charitable Foundation Awards $3 Million to Launch Blackstone Skilled Futures

Blackstone

Expanding Trades Opportunities in Arizona

Phoenix, AZ and New York, NY – The Blackstone Charitable Foundation has awarded a $3 million grant to launch Blackstone Skilled Futures in partnership with Arizona State University, Maricopa Community Colleges and local nonprofits. The program aims to increase access to high-quality training and workforce development, focusing on construction and advanced manufacturing in the Phoenix area.

Blackstone Skilled Futures will support students in need, along with capacity building for training institutions and other wraparound support to ensure learners can get the education, certifications, and employment in these fields.

The initiative will also support high school students with career-connected programming, creating workforce pipelines into post-secondary training and industry credentials in high-wage, high-demand, and high-skill jobs in the skilled trades.

Arizona’s rapid growth in electric vehicles, AI, energy infrastructure and semiconductors is fueling a construction and advanced manufacturing boom. The Arizona Office of Economic Opportunity projects 37,000 new construction jobs will be added in Arizona by 2031, including 13,000 electricians and 3,000 HVACR (heating, ventilation, air conditioning and refrigeration) technicians. Job demand in advanced manufacturing parallels this trend, with the state expecting to add over 30,000 jobs by 2033.

“It’s getting harder and harder for people to find good-paying, stable jobs without a college degree, but this investment helps change that,” said Senator Ruben Gallego. “By preparing Arizona students for careers in high-demand fields like construction, manufacturing and energy, we can strengthen our local businesses, keep our state competitive, and help more people build their careers and families in Arizona.”

Blackstone Skilled Futures plans to:

  • Award scholarships to 4,000 students
  • Introduce skilled trades to 3,500 new students
  • Enroll 5,000 students in training or apprenticeships
  • Support 1,000 job placements

The program will provide scholarships, dual-enrollment credits, OSHA training, recruitment tools and connections to employers. ASU’s Academic Alliances, in partnership with the OSHA Training Institute at ASU’s Del E. Webb School of Construction and Maricopa Community Colleges, will expand training and certificate programs.

“The demand for skilled trades is growing and these careers are the backbone of a thriving Arizona community. The Blackstone Charitable Foundation is committed to opening doors for individuals to gain the training, tools and opportunities they need to succeed. By investing in skilled trades, we’re not just helping to meet today’s demand, we’re supporting a stronger future for the city and the people who call it home,” said Maura Pally, executive director of the Blackstone Charitable Foundation.

“ASU is honored to work closely on this grant with the Blackstone Charitable Foundation and the Maricopa Community Colleges, one of the university’s most valued community college partners,” said Nancy Gonzales, executive vice president and university provost. “We share a mission of student excellence, access and impact and this collaboration is a direct reflection of ASU’s commitment to transfer student success.”

The colleges and university will collaborate with Center for the Future of Arizona (CFA), Greater Phoenix Chamber of Commerce, Phoenix Mayor’s Future Talent Fund and Maricopa County Regional School District to increase the number of students pursuing these skilled trades.

Center for the Future of Arizona will connect education and industry leaders to build seamless college and career pathways in high-demand sectors through the Arizona Pathways to Prosperity initiative. The organization will engage school districts, nonprofit organizations, municipalities, state agencies, companies and chambers of commerce – to recruit students and provide technical assistance and scholarships. CFA will continue collaborating with the Greater Phoenix Chamber Foundation to support employer outreach.

“Building the workforce of the future requires collaboration, innovation, and a deep commitment to creating opportunity through education and training,” said Sybil Francis, chair, president and CEO of Center for the Future of Arizona. “We are proud to join the Blackstone Charitable Foundation, ASU, and Maricopa Community Colleges in creating pathways that empower young people across Arizona to pursue rewarding, high-skill careers. Together, we’re providing all Arizonans with access to training and opportunities to help them thrive.”

At the same time, the Maricopa Community Colleges will lead localized engagement efforts, which include expanding scholarships for low-income students, securing industry partners to serve as hosts and training providers for apprenticeships, facilitating work-based learning and career support activities such as resume reviews and mock interviews, and convening industry advisory councils to inform curriculum updates and identify student engagement opportunities.

“Maricopa Community Colleges have a rich history of training skilled workers,” said Steven R. Gonzales, Maricopa Community Colleges chancellor. “As the largest provider of workforce training in Arizona, we are developing the next generation of skilled workers—who will undoubtedly play a critical role in supporting nearly every facet of our infrastructure.”

Collectively, the partners will reach a variety of populations who can benefit from these skilled trades opportunities, including high school students, community college students and working adults to rapidly scale access to high-wage, high-demand careers.

About Arizona State University
Arizona State University, ranked the No. 1 “Most Innovative School” in the nation by U.S. News & World Report for 11 years in succession, has forged the model for a New American University by operating on the principles that learning is a personal and original journey for each student; that they thrive on experience and that the process of discovery cannot be bound by traditional academic disciplines. Through innovation and a commitment to accessibility, ASU has drawn pioneering researchers to its faculty even as it expands opportunities for qualified students.

About Blackstone Charitable Foundation (BXCF)
With a commitment to fostering career and economic mobility, the Blackstone Charitable Foundation leverages its financial and human capital to support initiatives that bridge opportunity gaps and strengthen communities. Blackstone Skilled Futures is BXCF’s latest grant program, aiming to expand the next generation of skilled talent by reducing barriers and increasing access to high-quality training programs in the trades. BXCF has also funded the Phoenix talent pipeline through Blackstone LaunchPad, with over $1.5 million in grants to support ASU and MCCCD students in skill-building, career readiness and paid summer internships.

About Maricopa Community Colleges
The Maricopa County Community College District includes 10 individually accredited colleges – Chandler-Gilbert, Estrella Mountain, GateWay, Glendale, Mesa, Paradise Valley, Phoenix, Rio Salado, Scottsdale, and South Mountain – and the Maricopa Corporate College, serving approximately 140,000 students with bachelor’s degrees, two-year degrees, certificates, and university transfer programs. Visit www.maricopa.edu to learn more.

About Center for the Future of Arizona
Center for the Future of Arizona (CFA) is a nonprofit, nonpartisan “do-tank” that brings Arizonans together to create a stronger and brighter future for our state. Through its extensive survey research & communications, Arizona Progress Meters, and impact initiatives & programs in education, workforce, and civic health, CFA listens to Arizonans to learn what matters most to them, shares trusted data about how Arizona is doing in those priority areas, brings critical issues to public attention, and works with communities and leaders to solve public problems. CFA’s work is focused on building The Arizona We Want – a research-informed vision of success for the state, where all Arizonans, now and in the future, thrive and enjoy sustained prosperity, unmatched quality of life, and real opportunity.

Media Contact
Avery Didden
avery.didden@blackstone.com

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Hop Lun Expands Global Manufacturing Capabilities With Strategic Acquisitions in Morocco

Platinum

Sketching | Platinum Equity

New plants will further diversify Hop Lun’s global supply chain

 Upon closing, the company will have completed three acquisitions this year and five since 2022

HONG KONG (October 17, 2025) – Hop Lun, one of the world’s largest designers and manufacturers of intimate apparel and swimwear, announced today the signing of definitive agreements for two acquisitions that will create a new manufacturing platform for the company in Morocco. The deals are subject to customary closing conditions and are expected to be completed during the fourth quarter of 2025.

The agreements include:

  • The acquisition of Tobago, a Morocco-based premium manufacturer of corsetry, lingerie, and swimwear that primarily supplies French and other European manufacturers who serve global customer bases. The company operates a 3,000 square-meter facility in Casablanca that produces approximately 1 million pieces per year. Established in 1996, Tobago’s founders have committed to staying on to assist with the transition and integration process.
  • The acquisition of the Chantelle Group’s Morrocco operations, comprising its Famaco and Atma manufacturing facilities, which currently produce ~1.4 million pieces per year. Founded in 1876 and headquartered in Paris, Chantelle is one of the most established luxury lingerie brands in the world. Chantelle will remain a customer of Hop Lun post close.

Combined, the addition of the three manufacturing facilities in Morocco will add approximately 800 skilled employees to Hop Lun’s global team. The combination of these two Moroccan businesses creates a unified platform that delivers scale, infrastructure, local leadership, credibility, and customer access.

“We have great respect for both of these businesses and their owners. We believe Morocco offers compelling advantages for Hop Lun’s customers in Europe, including high-quality production capabilities, a skilled workforce, and faster replenishment cycles.”

Jacob Kotzubei, Co-President and Matthew Louie, Managing Director, Platinum Equity

In the upcoming weeks, Hop Lun will begin collaborating with future colleagues and partners to ensure a smooth and effective transition. The transactions are expected to close by year-end and mark another critical milestone in Hop Lun’s continued international growth.

Based in Hong Kong, Hop Lun, a portfolio company of Platinum Equity, currently employs more than 30,000 people and has manufacturing operations in Bangladesh, China and Indonesia. The company produces products for many of the world’s largest global retailers as well as for its own in-house brands.

Erik Ryd, Executive Chairman of Hop Lun, said:

“We are thrilled to welcome the Moroccan teams into the Hop Lun family. This acquisition reflects our belief in the strength and potential of the local workforce, and our excitement about the opportunities ahead. Morocco offers a dynamic platform for growth, and we’re committed to investing in its future.

This acquisition follows three successful integrations across diverse geographies and cultures, reinforcing Hop Lun’s ability to navigate transitions with care, respect, and long-term vision. I’ve seen firsthand how our teams come together across borders to create something stronger and I’m confident we’ll do the same in Morocco.”

Platinum Equity Co-President Jacob Kotzubei and Managing Director Matthew Louie said in a joint statement:

“We have great respect for both of these businesses and their owners. We believe Morocco offers compelling advantages for Hop Lun’s customers in Europe, including high-quality production capabilities, a skilled workforce, and faster replenishment cycles. We are proud to support Hop Lun’s continued growth and diversification and will continue working with Erik and the company’s leadership team to pursue additional opportunities to grow both organically and through strategic M&A.”

The two Moroccan transactions will represent the fourth and fifth acquisitions Hop Lun has completed since Platinum Equity acquired the business in 2022.

Earlier this year Hop Lun acquired Lintas, expanding the company’s manufacturing footprint in Bangladesh and strengthening its ability to serve the European market.

In 2024, Hop Lun acquired PH Garment, which added three manufacturing facilities in Bangladesh and China and expanded Hop Lun’s capabilities producing bonded products.

In December 2023 Hop Lun acquired Rainbow West Apparel, a Los Angeles-based company with roots in both swimwear and outerwear.

About Hop Lun

Founded in 1992, Hop Lun is a leading global manufacturer of women’s intimate apparel, with operations across Asia, Europe, and the Americas. The company is known for its customer-centric approach, innovative design, and commitment to ethical and inclusive manufacturing.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $50 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 500 acquisitions.

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2Connect has signed an agreement to acquire rmw Kabelsysteme, a leading German manufacturer of specialty cable- and electromechanical assemblies a.o. for the Aerospace, Defense and MedTech market

Rivean

Waalwijk – Netherlands-based 2Connect, a global leader in high-mix, low-volume customer-specific interconnectivity solutions for mission-critical applications, is pleased to announce that it (through its wholly owned subsidiary Büschel Connecting Systems GmbH) has entered into a definitive agreement to acquire rmw Kabelsysteme (“rmw”), a prominent German manufacturer specializing in high-mix, low-volume cable- and electromechanical assemblies (incl. box-builds) for a.o. the Aerospace, Defense, and MedTech sectors. The completion of the transaction is still subject to approval by competent authorities.

By joining forces with rmw, 2Connect will significantly broaden its footprint in Germany, gain access to a portfolio of highly attractive blue-chip OEM customers, and enhance its production capabilities with rmw’s advanced and certified manufacturing expertise.
This strategic acquisition represents a major milestone in 2Connect’s international expansion strategy. Following previous acquisitions in both Germany and the United States, as well as the expansion of production facilities in Romania and sourcing operations in South-East Asia, 2Connect now truly has a global production set-up able to serve its customers ‘in the region, for the region’ by combining customer proximity and fast time-to-market with broad local production capabilities.

2Connect places great importance on the strong company culture that has propelled rmw’s success over the years—a culture that aligns closely with 2Connect’s own values and operational DNA. Together, the companies are well-positioned to deliver even greater value to their customers through complementary strengths and shared commitment to quality and innovation.

Mark van den Heuvel, CEO 2Connect: “We are thrilled to welcome rmw to the 2Connect family. rmw’s reputation for quality, precision, and customer focus makes it an ideal partner for us. This acquisition not only strengthens our position in Germany but also enhances our ability to serve critical industries with highly specialized solutions. We look forward to working closely with the rmw team to build on their success and drive innovation together.”

Ralf Böhm, Managing Director rmw: “We are excited to join forces with 2Connect. From the very beginning, it was clear that we share a strong cultural alignment and a common commitment to quality, innovation, and customer satisfaction. Becoming part of 2Connect opens up new opportunities for our team and our customers, and we look forward to working together to shape the future of interconnectivity solutions.”

About 2Connect
2Connect designs, develops and produces innovative and customer-specific interconnection solutions for original equipment manufacturers (“OEMs”) and original design manufacturers (“ODMs”) in high-mix, low-volume end markets globally. Founded in 2000, the Company prides itself on setting new standards for interconnection solutions by designing high-quality and cost-effective units in partnership with its long-term client base. 2Connect employs c. 600 people across its locations in the Netherlands, Germany, Romania, the United States and Hong Kong. 2Connect’s products are sold to customers in over 45 countries. For more info, please visit: https://www.2-connect.com/.

About rmw
rmw Kabelsysteme GmbH spun out from Carl Zeiss Jena in 1991 and has grown to almost 200 employees that aim to create modern interconnectivity solutions. Electromechanics, mechatronics, toolmakers, engineers and many other committed people make rmw an innovative and reliable partner for renowned customers, benefitting from deep know-how and experience. For more info, please visit https://rmw.de/en/home

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Nalu Medical, Inc. Announces $65 Million Equity Financing to Advance Treatment for Chronic Neuropathic Pain

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Acquisition to expand the neuromodulation offerings for people living with chronic pain.

MARLBOROUGH, Mass., Oct. 17, 2025 /PRNewswire/ — Boston Scientific Corporation (NYSE: BSX) today announced it has entered into a definitive agreement to acquire Nalu Medical, Inc., a privately held medical technology company focused on developing and commercializing innovative and minimally invasive solutions for patients with chronic pain.

Boston Scientific has been a strategic investor in Nalu Medical since 2017. The transaction consists of an upfront cash payment of approximately $533 million for the remaining equity not owned by Boston Scientific.*

The Nalu Neurostimulation System is designed to deliver targeted relief for adults living with severe, intractable chronic pain of peripheral nerve origin, including areas such as the shoulder, lower back and knee, through peripheral nerve stimulation (PNS). The therapy uses mild electrical impulses to interrupt pain signals before they reach the brain. The system features a miniaturized, battery-free implantable pulse generator, powered wirelessly by a small, externally worn therapy disc and controlled via a smartphone app.

Nalu Medical received U.S. Food and Drug Administration 510(k) clearance for the Nalu system in 2019. In the COMFORT and COMFORT 2 randomized controlled trials, evaluating the safety and efficacy of PNS, the system demonstrated significant and sustained pain relief for patients. In COMFORT, 87% of participants reported more than a 50% reduction in pain at 12 months,i while in COMFORT 2, 79% of patients reached an average pain relief of 64% at six months.ii Real-world data from more than 2,000 individuals reinforced these findings, with 94% of patients achieving clinically meaningful improvement across a broad range of chronic peripheral nerve pain conditions.iii

“Peripheral nerve stimulation is an exciting field with a significant unmet patient need,” said Jim Cassidy, president, Neuromodulation, Boston Scientific. “Adding the highly differentiated Nalu Medical technology complements our existing therapies—including spinal cord stimulation, basivertebral nerve ablation and radiofrequency ablation—enabling us to deliver advanced pain relief options to a wider variety of patient populations.”

Boston Scientific expects to complete the transaction in the first half of 2026, subject to customary closing conditions. Nalu is expected to generate sales in excess of $60 million in 2025 and to deliver year-over-year growth in excess of 25% in 2026. On an adjusted basis, the transaction is expected to be immaterial to adjusted earnings per share (EPS) in 2026, slightly accretive in 2027, and increasingly accretive thereafter. On a GAAP basis, the transaction is expected to be more dilutive due to amortization expense and acquisition-related charges.

*On a 100% basis before consideration of Boston Scientific’s current equity ownership in Nalu Medical, Inc. and other closing adjustments, the transaction price consists of an upfront cash payment of $600 million.  

About Boston Scientific

Boston Scientific transforms lives through innovative medical technologies that improve the health of patients around the world. As a global medical technology leader for more than 45 years, we advance science for life by providing a broad range of high-performance solutions that address unmet patient needs and reduce the cost of healthcare. Our portfolio of devices and therapies helps physicians diagnose and treat complex cardiovascular, respiratory, digestive, oncological, neurological and urological diseases and conditions. Learn more at www.bostonscientific.com and follow us on LinkedIn.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like “anticipate,” “expect,” “project,” “believe,” “plan,” “estimate,” “may,” “intend” and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding statements regarding our business plans, the financial and business impact of the transaction and the anticipated benefits of the transaction, the closing of the transaction and the timing thereof, anticipated sales by Nalu, and product performance and impact. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.

Risks and uncertainties that may cause such differences include, among other things: economic conditions, including the impact of foreign currency fluctuations; future U.S. and global political, competitive, reimbursement and regulatory conditions, including changing trade and tariff policies; geopolitical events; manufacturing, distribution and supply chain disruptions and cost increases; disruptions caused by cybersecurity events; disruptions caused by public health emergencies or extreme weather or other climate change-related events; labor shortages and increases in labor costs; variations in outcomes of ongoing and future clinical trials and market studies; new product introductions; expected procedural volumes; the closing and integration of acquisitions, including our ability to achieve the anticipated benefits of the proposed transaction and successfully integrate Nalu’s operations; business disruptions (including disruptions in relationships with employees, customers and suppliers) following the announcement and/or closing of the proposed transaction; demographic trends; intellectual property; litigation; financial market conditions; the execution and effect of our business strategy, including our cost-savings and growth initiatives; future business decisions made by us and our competitors; the conditions to the completion of the proposed transaction, including the receipt of any required regulatory approvals and clearances, may not be satisfied at all or in a timely manner; and the closing of the proposed transaction may not occur or may be delayed. These and any new risks and uncertainties, which may arise from time to time, are difficult to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A – Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A – Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements, except as required by law. This cautionary statement is applicable to all forward-looking statements contained in this press release.

Note: Amounts reported in millions within this press release are computed based on the amounts in thousands. As a result, the sum of the components reported in millions may not equal the total amount reported in millions due to rounding. Certain columns and rows within tables may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying unrounded amounts.

CONTACTS:
Jessica Sachariason
Media Relations
+1 (415) 720-2310
jessica.sachariason@bsci.com

Lauren Tengler
Investor Relations
+1 (508) 683-4479
BSXInvestorRelations@bsci.com

i Hatheway, J., Hersel, A., Engle, M., Gutierrez, G., Khemlani, V., Kapural, L., Moore, G., Ajakwe, R., Trainor, D., Hah, J., Staats, P., Makous, J., Heit, G., Kottalgi, S., & Desai, M. J. (2024). Clinical study of a micro-implantable pulse generator for the treatment of peripheral neuropathic pain: 12-month results from the COMFORT-randomized controlled trial. Regional Anesthesia & Pain Medicine. Advance online publication. https://doi.org/10.1136/rapm-2024-106099
ii Engle M, Gutierrez G, Hersel A, Netzel C, Khemlani V, Kapural L, Cubillo E, Hatheway J, Moore G, Valimahomed A, Khan K, Shuayto M, Majjhoo A, Sayed D, Latif U, Trainor D, Ajakwe R, Staats P, Makous J, Martin P*, Kottalgi S, Desai MJ; COMFORT 2 Study Group. A Confirmatory Randomized Controlled Trial Evaluating a Micro-Implantable Pulse Generator for the Treatment of Peripheral Neuropathic Pain: 3- and 6-Month Results from the COMFORT 2 Study. Chronic Pain & Management. 2025; 9: 171. DOI: 10.29011/2576-957X.1000171
iii Hatheway, J. A., Ratino, T., Swain, A. R., Ratino, T., Latif, U., Arulkumar, S., & Desai, M. J. (2025). Long-term pain relief delivered by micro-implantable pulse generator: Findings from a large-scale, real-world data peripheral nerve stimulation patient registry. Chronic Pain & Management, 9, 169. https://doi.org/10.29011/2576-957X.100069

SOURCE Boston Scientific Corporation

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Hg Agrees Sale of GTreasury to Ripple for c. $1 Billion

Mainsail partners

LONDON, October 16, 2025 – Hg, a leading investor in European and transatlantic software and services businesses, today announced it has agreed the sale of GTreasury, a global leader in adaptable treasury solutions for the Office of the CFO, for a total transaction value of over $1 billion.

GTreasury will be acquired by Ripple, a leading provider of digital asset infrastructure for the enterprise. As a result of this transaction, Hg will fully exit the business, alongside minority investor, Mainsail Partners.

GTreasury provides financial leaders with a comprehensive platform to manage every stage of treasury complexity, covering liquidity management, cash forecasting, payments, netting, and risk. Hg invested in 2023 recognising that these were becoming increasingly critical and strategic products within the Office of the CFO.

The company has scaled significantly with Hg’s support, expanding its transatlantic footprint and accelerating product innovation. This includes the launch of GSmart AI, which augments GTreasury’s platform with agentic capabilities that reduce manual effort, proactively identify risks and variances, and recommend strategic actions for finance leaders.

GTreasury now powers trillions of dollars in annual payment volumes and serves more than 1,000 customers across 160 countries.

Renaat Ver Eecke, CEO, GTreasury, said: “Joining Ripple is hugely exciting and will further accelerate our vision of smart, adaptable solutions that provide financial leaders with the clarity to act. I am also immensely grateful for Hg’s support over the last two and a half years, whose expertise in software, AI, and Office of the CFO gave us a huge advantage while scaling, launching new products and delighting our customers. Finally, I want to thank Mainsail Partners for their steadfast support since their initial investment in 2017.

Louis Kinsella, Partner at Hg, said: “It’s been a pleasure working with Renaat and the GTreasury team over the last couple of years. The business has firmly cemented its position as the most adaptable treasury platform on the market, evidenced by its accelerating growth, increasingly transatlantic footprint, and exciting product innovations, including the recent launch of GSmart AI. I have no doubt the GTreasury team will continue to thrive in this exciting new chapter.”

Goldman Sachs & Co. LLC is serving as exclusive financial advisor to GTreasury; Morrison & Foerster LLP is serving as legal counsel to GTreasury. EY-Parthenon is also serving as an advisor to GTreasury.

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Sebia and Warburg Pincus Partner to Drive Innovation in Diagnostics

Warburg Pincus logo

Warburg Pincus enters exclusive negotiations to acquire a significant minority stake in Sebia

Existing shareholders CVC Funds, La Caisse (formerly CDPQ) and Téthys Invest to remain significant investors

Lisses, Amsterdam and London, 16 October 2025 – Sebia, a global leader in specialty diagnostics, and Warburg Pincus, the pioneer of private equity global growth investing, today announced that Warburg Pincus has entered into exclusive negotiations for the potential acquisition of a significant minority stake in Sebia.

Sebia is a global specialized In Vitro Diagnostics player providing equipment and reagents for the screening and monitoring of various diseases, primarily in the areas of Oncology (Multiple Myeloma), Diabetes, Hemoglobinopathy, Autoimmune and Infectious diseases and other rare pathologies. The company serves customers in more than 140 countries through a broad installed base and a portfolio of proprietary reagents and instruments.

Jean-Marc Chermette,Chief Executive Officer of Sebia, said: “Our mission is to provide powerful tools that translate what is happening in a patient’s body into a readable and interpretable language. We welcome Warburg Pincus as a new partner alongside our existing investor base. Their global healthcare expertise and growth orientation will help accelerate Sebia’s strategy while maintaining our commitment to scientific rigor, product quality and patient impact, helping us deliver for our customers and partners.”

TJ Carella, Managing Director and Global Head of Healthcare, and Jake Strauss, Managing Director and Head of European Healthcare at Warburg Pincus, said: “Sebia is a best-in-class diagnostics platform with differentiated technology and a strong track record of delivering innovative products and solutions to customers and patients worldwide. We are excited to partner with Jean-Marc, the management team, and existing shareholders to support the company’s next phase of growth, including continued advances in diagnostic modalities, scientific excellence and manufacturing capabilities.”

The terms of the proposed transaction are not disclosed. Following completion, Sebia will continue to operate as an independent company from its headquarters in Lisses, France.

Execution of the proposed transaction remains subject to completion of applicable employee consultation processes, and receipt of customary regulatory approvals. Closing is expected to occur no earlier than Q1 2026.

About Sebia

Founded in 1967, Sebia is a world-leading provider of clinical protein electrophoresis equipment and reagents, a technology used for in vitro diagnostic testing. Its systems analyze proteins in order to screen and monitor various diseases and conditions; primarily oncology (multiple myeloma) and metabolic disorders such as diabetes, also hemoglobinopathy and rare pathologies. Following the acquisition of Orgentec, Corgenix and Arotec in 2021, Sebia now develops and markets innovative solutions for autoimmunity diagnostics and infectious diseases. Headquartered in Lisses, France, the company operates across more than 140 countries with 23 direct subsidiaries. www.sebia.com

About Warburg Pincus

Warburg Pincus LLC is the pioneer of global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than USD 86 billion in assets under management, and more than 220 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit https://www.warburgpincus.com or follow us on LinkedIn.

Media contacts

Sebia
Ivana Gautier
Group General Counsel & Compliance Director
igautier@sebia.com

Warburg Pincus
Alice Gibb
Director – Head of Communications, Europe
+44 (0)207 306 30 90
alice.gibb@warburgpincus.com

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Ratos announces Björn Borgman leaving HL Display

Ratos

Björn Borgman, CEO HL Display, has chosen to leave the company to take on the role as President and CEO for ITAB.

After ten years with HL Display, including the past five as Chief Executive Officer, Björn Borgman has announced his departure from the company. He will remain in his role until a successor assumes office, but no later than the end of April.

Ratos has initiated the recruitment process to appoint a new Chief Executive Officer for HL Display.

About HL Display
HL Display is a global leader in in-store merchandising and communication solutions, helping customers create a better shopping experience for both shoppers and store personnel. Founded in 1954, HL operates in more than 70 countries, with solutions in 350,000 stores worldwide. The company supports customers in growing sales, inspiring shoppers, improving efficiency, reducing waste and improving work in-store across three segments: food retail, branded goods suppliers, and non-food retail.

HL Display Group is headquartered in Stockholm, Sweden, with sales offices in 24 countries covering 40 markets and distributor partners serving the remaining global markets. The company operates seven production facilities across Sweden, Poland, Germany, the UK, Canada, and China, with capabilities including plastics and metal fabrication, printing, and assembly. HL has 1,400 employees and net sales of 3,000 MSEK. HL Display has actively pursued 11 add-on acquisitions over the past four years to strengthen its market position and expand its portfolio.

Ratos holding in the subsidiary HL Display is 95%.

For further information, please contact:
Katarina Grönwall, VP Communications & Sustainability
+46 70 300 35 38
katarina.gronwall@ratos.com

About Ratos
Ratos is a Swedish publicly listed business group consisting of 14 companies across three business areas: Construction & Services, Industry and Consumer. The Group operates mainly in the Nordic region, with net sales of SEK 32 billion and an adjusted EBITA of SEK 2.3 billion in 2024, and with a total workforce of around 10,900 employees. Ratos is headquartered in Stockholm, Sweden.

We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger.

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Kinetic Advantage and Carlyle Enter into Strategic Partnership to Provide Automotive Floorplan Financing

Carlyle

CARMEL, INDIANA, and NEW YORK, NY – October 16, 2025 – Kinetic Advantage (“Kinetic” or the “Company”), an independent automotive floorplan financing company, today announced that it has received a strategic investment from global investment firm Carlyle (NASDAQ: CG) and a multi-year forward flow commitment to facilitate the origination of automotive floorplan financing by Kinetic. This partnership will enable Kinetic to increase its origination capacity and improve access to innovative floorplan financing solutions for US dealers.

Founded in late 2020 and backed by Altamont Capital Partners, Kinetic is a key provider of floorplan financing for independent US automotive dealers. Offering best-in-class technology and industry-leading service, Kinetic is a financing partner to dealers nationwide. Kinetic provides funding for vehicle purchases from nearly all inventory sources, including auto auctions, trade platforms and other wholesale venues.

Of the Carlyle partnership, McFarland, CEO of Kinetic Advantage said, “We are very pleased to be partnering with Carlyle, a world-class investment firm that brings significant capabilities to Kinetic to drive success for our dealer partners and the Company. Alongside our investment from Altamont, Kinetic is very well positioned with high-caliber partners to grow and innovate, a hallmark of Kinetic’s philosophy.”

“We’re delighted to partner with Kinetic Advantage and its exceptional team of industry veterans who bring decades of experience and innovation to the floorplan financing sector,” said Akhil Bansal, Head of Asset-Backed Finance at Carlyle. “Kinetic has built a technology-forward platform that’s redefining how independent dealers access capital and we’re excited to help accelerate the growth of the platform.”

This transaction was led by Carlyle Asset-Backed Finance (“Carlyle ABF”), a group within Carlyle’s Global Credit platform focused on private fixed income and asset-backed investments. The highly experienced team leverages the knowledge, sourcing, structuring, and breadth of the entire Carlyle investment platform to help deliver tailored asset-focused financing solutions to businesses, specialty finance companies, banks, asset managers, and other originators and owners of diversified pools of assets. Carlyle ABF has deployed approximately $8.5 billion since 2021 and has more than $9.5 billion in assets under management as of June 30, 2025.

Stephens Inc. acted as exclusive financial advisor to Kinetic Advantage.

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About Kinetic Advantage
Kinetic Advantage is a dynamic independent floorplan company led by trusted industry veterans to provide complete inventory financing solutions to independent dealerships. Our core focus is providing our independent dealer customers with complete financing solutions to help them succeed through top-notch service, local support and a collaborative partnership.

About Carlyle 
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Carlyle AlpInvest. With $465 billion of assets under management as of June 30, 2025, Carlyle’s purpose is to invest wisely and create value for its investors, portfolio companies and the communities in which it invests. Carlyle employs more than 2,300 people across 27 offices on four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

Media

Ashley Alspaugh
Kinetic Advantage
+1 317-699-5998
ashley.alspaugh@kineticadvantage.com

 

Kristen Ashton

Carlyle

+1 212-813-4763

Kristen.ashton@carlyle.com

 

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Redox and Kno2 Form Strategic Alliance to Transform Healthcare Data Exchange Nationwide

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.406 Ventures

Oct 16, 2025

MADISON, WI and BOISE, ID – October 16, 2025 – Redox, healthcare’s leading interoperability company powering flexible data exchange in real-time, and Kno2, the company leading the future of healthcare communication and a federally designated Qualified Health Information Network (QHIN), today announced a strategic alliance that solves healthcare’s dual challenge of moving clinical data at scale between the major healthcare networks and systems as well as making it instantly usable.

Combined, Redox and Kno2 transact over 40 billion annual transactions and connect nearly 160,000 provider organizations. This represents 75% of health systems and 80% of providers from non-acute settings such as therapies, post-acute, EMS and others, and constitutes the largest and most comprehensive healthcare network of provider systems, EHRs, and HIT vendors in the United States. Together, the alliance delivers a complete solution to securely connect, transform, enrich, and orchestrate clinical data exchange with nearly any EHR or provider system, nationwide.

Solving Both Sides of the Interoperability Equation

“Kno2 excels at moving data at scale across any channel, from fax to FHIR, while Redox provides the expertise, a network of connected solutions, and infrastructure to scalably transform that data into actionable information,” said Therasa Bell, President and Co-Founder of Kno2. “Together, we’re making data both movable and meaningful across the entire healthcare ecosystem.”

The partnership addresses critical industry needs through:

  • Unified Integration: Single connection point providing access to the combined network’s full reach
  • Scalable Architecture: Connectivity for everything from small EHRs to enterprise health systems and payers, with bi-directional data flow for complex workflows
  • Universal Data Translation: Scale and normalization to HL7v2, FHIR, X12, CDA, and several other formats – including proprietary formats – ensuring compatibility across any system
  • Nationwide TEFCA Connectivity: Access to federal health information networks through Kno2’s QHIN designation, integrated directly into the Redox platform

Transforming Healthcare Connectivity at Scale

“It’s no secret that healthcare organizations have struggled for years to solve the interoperability problem created by fragmented data and incompatible systems,” explained Trip Hofer, CEO of Redox. “Our partnership with Kno2 closes these critical gaps for technology platforms, providers, and payors across the ecosystem by enabling teams to essentially plug in once to access an entire nationwide ecosystem, instead of developing and maintaining hundreds of custom integrations.”

The collaboration is particularly significant as healthcare faces increasing pressure to meet federal interoperability requirements while managing diverse connectivity needs. While billions of clinical documents flow through national frameworks, many critical workflows still require direct system-to-system connections. This partnership enhances both approaches, providing meaningful access to nationwide networks and bringing scale to purpose-built integrations.

Existing customers of both companies can learn more about the integrated solution now by working with your account teams. New customers will be able to access the combined offering through either Redox or Kno2 in early 2026.

About Kno2
Kno2 is leading the future of healthcare communication by providing the nation’s largest comprehensive communication network including as a federally designated Qualified Health Information Network (QHIN) and CMS Aligned network. Kno2 enables secure, effortless exchange of patient information across providers, payers, patients, and technology vendors, processing billions of transactions annually. Learn more at www.kno2.com.

About Redox
Redox is your healthcare data interoperability partner. We help providers, payers, digital health vendors/independent service providers, EHRs, and life sciences companies power better care with seamless data interoperability. Our secure platform’s read/write capabilities translate, normalize, enrich, and orchestrate complex healthcare data in real time. With a connected network of nearly 12,000 live integrations, organizations use the Redox Engine to accelerate connected healthcare across a wide range of systems, applications, and workflows. For more information, visit www.redoxengine.com or follow us on LinkedIn.

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Sebia and Warburg Pincus partner to drive innovation in diagnostics

CVC Capital Partners
  • Warburg Pincus enters exclusive negotiations to acquire a significant minority stake in Sebia
  • Existing shareholders CVC Funds, La Caisse (formerly CDPQ) and Téthys Invest to remain significant investors

Sebia, a global leader in specialty diagnostics, and Warburg Pincus, the pioneer of private equity global growth investing, today announced that Warburg Pincus has entered into exclusive negotiations for the potential acquisition of a significant minority stake in Sebia.

Sebia is a global specialized In Vitro Diagnostics player providing equipment and reagents for the screening and monitoring of various diseases, primarily in the areas of Oncology (Multiple Myeloma), Diabetes, Hemoglobinopathy, Autoimmune and Infectious diseases and other rare pathologies. The company serves customers in more than 140 countries through a broad installed base and a portfolio of proprietary reagents and instruments.

Jean-Marc Chermette, Chief Executive Officer of Sebia, said: “Our mission is to provide powerful tools that translate what is happening in a patient’s body into a readable and interpretable language. We welcome Warburg Pincus as a new partner alongside our existing investor base. Their global healthcare expertise and growth orientation will help accelerate Sebia’s strategy while maintaining our commitment to scientific rigor, product quality and patient impact, helping us deliver for our customers and partners.”

TJ Carella, Managing Director and Global Head of Healthcare, and Jake Strauss, Managing Director and Head of European Healthcare at Warburg Pincus, said: “Sebia is a best-in-class diagnostics platform with differentiated technology and a strong track record of delivering innovative products and solutions to customers and patients worldwide. We are excited to partner with Jean-Marc, the management team, and existing shareholders to support the company’s next phase of growth, including continued advances in diagnostic modalities, scientific excellence and manufacturing capabilities.”

The terms of the proposed transaction are not disclosed. Following completion, Sebia will continue to operate as an independent company from its headquarters in Lisses, France.

Execution of the proposed transaction remains subject to completion of applicable employee consultation processes, and receipt of customary regulatory approvals. Closing is expected to occur no earlier than Q1 2026.

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