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Keen is raising €125m to strengthen Europe’s defence tech ecosystem

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Keen

January 2025, Amsterdam — Keen Venture Partners, a leading VC firm based in Amsterdam, has announced plans to raise a €125 million fund dedicated to defence and security technology startups in Europe from seed to Series B.

This fund will be the first of its kind in the Benelux region and aims to become one of the largest defence tech investment funds in Europe. The goal is to support 20 to 25 startups from the seed stage to Series B, enabling the development of innovative solutions to address pressing geopolitical and security challenges.

“The shifting geopolitical landscape has created a critical need for Europe to become more self-reliant in defence and security. There is a real opportunity to build a stronger European defence industry,” says Alexander Ribbink, partner at Keen Venture Partners. “We are convinced that entrepreneurs and venture capital can strongly contribute to the safety of Europe. They are well-positioned to build and scale the innovative and cost-efficient solutions we need. Venture capital is essential to support and fuel entrepreneurship in the European defence industry, which will have lasting benefits far beyond the defence sector itself.”

Keen Venture Partners was founded in 2016, with a portfolio made up of investments in companies like EclecticIQ, Perciv.AI, and Avalor AI. The venture capital firm also benefits from an advisory board composed of military, political, and policy experts, reinforcing its strategic vision.

The new fund will focus on fostering innovative, dual-purpose technologies in European NATO countries, aligning closely with the European Defence Fund and NATO strategies.

Europe faces mounting strategic challenges, including the war in Ukraine, border threats, and growing tensions with China. NATO Secretary-General Mark Rutte has recently highlighted the need for Europe to mentally and physically prepare for potential conflicts.

Coupled with scrutiny over defence underspending, Keen argues that these factors underscore the urgency of building a robust, self-reliant, and sustainable European defence tech ecosystem.

The defence industry is undergoing a significant transformation, shifting from complex, low-volume systems to solutions that prioritise software, scalability, and cost-effectiveness. This evolution creates an opportunity for startups to lead innovation in “dual-use” technologies, serving both military and civilian purposes.

These include drones and radar systems, which can also support disaster response or environmental monitoring.

Entrepreneurship and venture capital can be crucial in building a scalable defence ecosystem, offering cost-effective and innovative solutions often overlooked by larger, more established defence companies. The European defence sector has experienced rapid growth, with over 100 startups exiting the market since 2017, according to Keen.

With this new fund, Keen Venture Partners aims to provide the financial backing and strategic support necessary to create a stronger, more resilient European defence ecosystem.

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Ardian invests in Sicer, a global leader in the production of specialty coatings for high-end ceramic decoration

Ardian

Ardian, a world-leading private investment house, announces that it has acquired a minority stake in Sicer, a long-established player active globally in the development and production of premium specialty coatings for the ceramic industry. The investment aims to support Sicer’s ambitious development plans, in partnership with entrepreneurs Gianfranco Padovani and Giuliano Ferrari, who are reinvesting to acquire the majority stake of the group. Sicer majority is being sold by the private equity fund Demos 1, managed by Azimut Libera Impresa SGR (Azimut Group), which had invested in the company in November 2020.

Founded in 1993 and headquartered in Fiorano Modenese, Sicer specializes in the development and production of innovative, high-performance coatings, including frits, glazes, engobes, glazes and inks. These products are essential for the surface treatment of high-end ceramic tiles, enhancing their durability, resistance, and aesthetics. Over the years, the company has built a strong reputation with a customer-oriented approach based on its commitment to quality and sustainability, exceptional service and innovation capabilities.

Sicer has a widespread presence in the main global ceramic districts, with production sites in Italy, Spain, the United States, Mexico, India, and Indonesia, and expects to close 2024 with revenues of approximately 130 million euros.

Ardian will acquire a minority stake in Sicer to support the company’s entrepreneurs and managers, Gianfranco Padovani (Executive Chairman), Giuliano Ferrari (CEO), and Marco Eumenidi (Commercial Director). They have an extensive experience in the ceramic market and strongly believe in the company’s business model. As part of the transaction, they will reinvest significantly to acquire a majority stake in Sicer, reaffirming their confidence in the group’s growth potential.

Ardian’s investment will help Sicer further consolidate its position in the European market, particularly in Italy and Spain, key regions for high-end ceramics. Additionally, Sicer plans to expand in the United States and India, leveraging its innovative products and strong international customer relationships. The company’s growth strategy focuses on enhancing its production capabilities, developing new products, and pursuing potential acquisitions to strengthen its global position.

“Sicer is a company with strong growth potential, blending tradition and innovation with technical expertise and customer focus. We believe in its potential and the vast experience of its management team, with whom we share values and vision. Together, we are confident we will achieve great results.” François Jerphagnon, Member of the Executive Committee, Managing Director Ardian France & Head of Expansion, Ardian

“We are excited to work with Sicer, an Italian excellence that has already secured a strong position in the international market and will continue to grow to become a preferred partner of main ceramic tiles players. Sicer’s strategy will benefit from Ardian global network and will focus on developing new products and expanding internationally. We are committed to supporting the entrepreneurs throughout this journey.” Marco Molteni, Managing Director Expansion, Ardian

“We are excited to partner with Ardian, whose support will be crucial to achieve our growth plans. This investment will strengthen our international presence, particularly in North America and Asia. With Ardian’s backing, we will continue to innovate and offer high-quality service. On behalf of the entire management team, we thank Azimut Libera Impresa for their support over the past four years, which has been instrumental in reinforcing Sicer’s global leadership through strategic investments and acquisitions.” Gianfranco Padovani, Executive Chairman, Sicer

“Ardian’s investment reflects the strength of our business model and growth potential. We look forward to working closely with Ardian to execute our strategic plans and drive Sicer’s global success, continuing the path started with Azimut Libera Impresa.” Giuliano Ferrari, CEO, Sicer

List of participants

  • Buyers

    • Ardian team: Marco Molteni, Giacomo Brettoni, Elisabetta Bozzoni Pantaleoni and Edoardo Munari
    • M&A (Buy side): Mediobanca
    • Legal advisors: PedersoliGattai (Stefano Catenacci) and Studio legale Sutich Barbieri Sutich (Giorgio Barbieri)
    • Business due diligence: Advancy
    • Financial due diligence: KPMG (Matteo Contini)
    • Tax due diligence: Gitti&Partners (Diego De Francesco), Abaco Commercialisti Associati (Alessandro Stradi) and Poggi&Associati (Vittorio Melchionda)
    • ESG due diligence: Ramboll
    • Insurance dd: Mactavish

  • Azimut

    • M&A (Sell side): DC Advisory (Giuliano Guarino)
    • Legal Advisor: Studio Giovannelli e Associati (Alessandro Giovannelli)

  • Sicer

    • Business Advisor: OC&C
    • Financial Advisor: EY

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $176bn of assets on behalf of more than 1,720 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT SICER

Sicer is one of the world leaders in the production of glazes, inks, and other solutions for high-quality ceramic decoration. Founded in 1993 in Fiorano Modenese, the heart of the Italian ceramic district, it specializes in the development and production of innovative, high-performance solutions for the surface treatment of high-end ceramic tiles, such as frits, glazes, enamels, and inks. With over 500 employees and production sites in Italy, Spain, the United States, Mexico, India, and Indonesia, Sicer has a widespread presence in the main global ceramic districts.

sicer.it

Media contacts

Ardian

HEADLAND

ardian@headlandconsultancy.com

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EVK Joins Headwall Group to Strengthen Market Leadership in Hyperspectral Imaging and Industrial Sensor Solutions

Arsenal Capital Partners

Bolton, MA and Raaba, Austria — Headwall Group (“Headwall”), a global leader in high-performance spectral imaging solutions and optical components and a portfolio company of private equity firm Arsenal Capital Partners, is pleased to announce its acquisition of EVK DI Kerschhaggl GmbH (“EVK”), an Austria-based technology company specializing in industrial sensor-based sorting and inspection systems. This strategic acquisition marks a significant step forward in Headwall Group’s mission to enhance its portfolio and bolster its presence in the industrial machine vision market.

The integration of EVK into the Headwall Group is a natural extension of Headwall Group’s strategy to diversify its product offerings and deepen its capabilities in delivering comprehensive, high-value imaging solutions. EVK’s innovative hyperspectral technology and inductive sensor technologies as well as data analysis expertise align seamlessly with Headwall Group’s existing products and commitment to advancing hyperspectral imaging applications and AI-driven interpretation software in machine vision and remote sensing markets.

“We are thrilled to welcome EVK into the Headwall family,” said Mark Willingham, CEO of Headwall Group. “Their proven track record in sensor-based solutions and industrial inspection complements our vision of providing integrated, next-generation hyperspectral technologies at the speed and scale needed by the industry. This partnership will drive further innovation and accelerate our ability to meet the increasing demand for more advanced, application-focused imaging solutions.”

Matjaz Novak, CEO of EVK, stated, “Joining forces with Headwall presents a tremendous opportunity to combine our expertise and technologies. Together, we can offer our customers enhanced solutions and expand our reach in the industrial imaging market. We look forward to a collaborative future that leverages the strengths of both organizations.”

EVK’s cutting-edge technology, which spans a range of industries including food processing, plastics recycling, and material sorting, will empower Headwall Group to broaden its market reach and foster new growth opportunities in both machine vision and remote sensing applications.

About Headwall Group:

Headwall Group is a leader in designing and manufacturing hyperspectral imaging systems, optical components, and machine vision solutions. The company serves industries such as food processing, recycling, pharmaceuticals, and environmental monitoring, providing high-performance technology backed by proprietary software for data interpretation. With its headquarters in Bolton, MA, and a network of global subsidiaries, Headwall is dedicated to pushing the boundaries of imaging and AI-driven analytics. For more information, visit www.headwallphotonics.com.

About EVK:

EVK is a distinguished provider of sensor-based solutions for industrial applications. Based in Austria, EVK offers advanced sensor technology and data processing solutions that enable precise inspection and sorting in various industrial sectors. Their focus on robust, innovative technology has established them as a trusted partner in the industry. For more information, visit www.evk.biz.

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Spindrift Announces Partnership with Gryphon Investors and Appointment of Dave Burwick as CEO

Gryphon Investors

Founder Bill Creelman will retain equity ownership and move to a new role as board Chair

Spindrift Beverage Co., Inc., the leading maker of sparkling water with real squeezed fruit, announced today that Gryphon Investors, a San Francisco-based private investment firm, will acquire a majority stake in the company. Gryphon’s partnership coincides with the appointment of beverage industry veteran Dave Burwick as Spindrift’s new CEO. Bill Creelman, Spindrift’s Founder and current CEO, will move to a new role as Chair of Spindrift’s board. Creelman and the management team will retain a significant equity stake in the company. The investment, subject to customary closing conditions, is expected to be completed in the first quarter of this year. Additional terms of the transaction were not disclosed.

Spindrift was founded by Bill Creelman in his kitchen in 2010. Since then, the company has consistently achieved exceptional growth as consumers have fallen in love with Spindrift’s unsweetened sparkling waters. Today, the company is committed to proudly making things “the Hard Way” with real squeezed fruit.

“I’m incredibly proud of what we’ve built at Spindrift over the past 15 years,” said Creelman. “For this next stage of growth, we looked for two things: a leader who could understand our business and the brand as natively as the people who work here today and an investment partner with the right financial and operational resources to galvanize our market leadership. I have known and respected Dave for nearly a decade, and with his experience and Gryphon Investors’ expertise, I’m confident that we will continue to have tremendous success in growing the brand and inspiring consumers to choose beverages that are based on the belief that the best tastes come directly from nature.”

“Spindrift has a strong, beloved brand and differentiated product portfolio because it’s made with exceptional thought and care,” said Ryan Fagan, Managing Director at Gryphon. “This attention to quality underlies the company’s outsized share of growth across beverage categories—nearly tripling in size since 2020—and it’s what attracted us to invest in the business. We are thrilled to be partnering with both Bill and Dave, as well as the entire Spindrift team.” Fagan, along with Gryphon Partners Matt Farron and Mike Ferry, will be joining Spindrift’s board.

Burwick joins Spindrift following 35 years of leadership experience at global consumer brands. His positions included President and CEO of The Boston Beer Company, President and CEO of Peet’s Coffee, and President, North America at Weight Watchers. He previously spent 20 years at PepsiCo in various executive capacities, including as Chief Marketing Officer of both Pepsi-Cola North America and Pepsi-Cola International.

“I’m excited to join this dynamic team,” said Burwick. “Spindrift’s combination of talented professionals, superior products, and loyal customers has created a fantastic brand with a great future—one I can’t wait to be a part of.”

Kirkland & Ellis acted as legal advisor to Gryphon. Morgan Stanley & Co. LLC and Lazard acted as financial advisors to Gryphon. Simpson Thacher & Bartlett LLP and Morgan, Lewis & Bockius LLP acted as legal advisors to Spindrift. Piper Sandler and JP Morgan acted as financial advisors to Spindrift.

About Spindrift Beverage Co.

Founded in 2010 and based in Newton, MA, Spindrift makes premium beverages with real squeezed fruit and zero added sugar. Its line of more than 20 flavors of sparkling water, teas and lemonades, hard seltzers, and mocktails is sold through diversified channels, including grocery and specialty stores, club stores, mass market outlets, and wholesale foodservice companies across the U.S. From searching worldwide to source the best-tasting fruit to prioritizing quality throughout their carefully-hewn manufacturing process, Spindrift crafts its products to celebrate the aroma, texture, and taste of real fruit —never from concentrate—in every sip.

About Gryphon Investors

Gryphon Investors is a leading middle-market private investment firm focused on profitably growing, competitively advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, Software, and Technology Solutions & Services sectors. With approximately $10 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon’s highly differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance, and accounting expertise. Gryphon’s three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $500 million per portfolio company. The Junior Capital strategy targets investments of $10 million to $25 million in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon’s targeted investment sectors.

Contacts

Press contact:  media@drinkspindrift.com

For Gryphon:

Lambert

Caroline Luz

203-570-6462

cluz@lambert.com

or

Jennifer Hurson

845-507-0571

jhurson@lambert.com

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ButterflyMX Secures Significant Growth Equity Investment from FTV Capital

FTV Capital

Investment will accelerate new product development while further solidifying ButterflyMX’s market-leading position in the multi-tenant property access and security market

NEW YORK — ButterflyMX, the leading cloud-based property access platform for multifamily and commercial properties, today announced a significant growth equity investment from FTV Capital, a sector-focused growth equity firm. With nearly 17,000 buildings and 1.5 million people using ButterflyMX daily, this investment will enable expansion into new markets, accelerate new product offerings, and solidify its position as the leading provider of property access control and security solutions.

The property access control and security market has seen massive growth driven by technological advancements, evolving resident expectations, and a growing need for safety. According to data from Market and Markets, the global market for cloud-based access control is expected to surpass $15.2 billion in annual revenue by 2029. This reflects a growing demand from property owners and managers for software-enabled solutions that boost revenue, reduce operating expenses, enhance security, and improve user experiences for everyone who lives, works, or visits a property.

ButterflyMX provides an access management and security platform that helps buildings deliver better experiences while driving significant revenue and cost savings. From video intercoms and connected access control systems to security cameras and front desk management, ButterflyMX’s property-wide suite of software-enabled products and services is purpose-built for property owners and managers of multifamily, commercial, student housing, HOAs, and gated communities. The company’s products and solutions enable customers to manage property access remotely and automate building operations while seamlessly integrating into existing property systems.

“Since our founding nearly 10 years ago, we’ve grown from just a video intercom to a fully integrated suite of access control and security products and solutions that transform the property access experience from the front entrance to every door, gate, and elevator through a building,” said Aaron Rudenstine, CEO of ButterflyMX. “The future of ButterflyMX will continue to focus on developing solutions that automate building operations, allowing for more affordable property ownership and management. As we continue on this journey, we’re pleased to have the backing of FTV Capital, a firm with a deep understanding of both vertical software and tech-enabled hardware, a vast network of partners and advisors, and a shared vision to provide products and services that revolutionize how multi-tenant properties are owned and operated.”

“Cloud-based property access solutions have become mission critical as residents increasingly demand more seamless and secure experiences and property managers look to simplify and improve operations,” said Richard Liu, partner at FTV Capital. “ButterflyMX has already asserted its market leadership with best-in-class solutions that address complexities around multi-family and commercial access for tenants, building owners, and property managers. The strong market momentum and incredibly positive customer feedback we heard was a resounding testament to the company’s unique value proposition and the compelling ROI it delivers. We are excited to partner closely with ButterflyMX to help the company meaningfully scale in its next chapter.”

“With consistent growth, excellent unit economics, and a highly scalable model, ButterflyMX is well positioned to remain the gold standard in this market,” continued Kapil Venkatachalam, partner at FTV Capital. “By being in the natural flow of key data, strategic use of AI, and leveraging an open platform that allows for seamless integration with other ecosystem players across the globe, ButterflyMX will continue to streamline operations for various types of property owners and enhance the resident experience. We look forward to partnering with Aaron and the team to drive the business forward.”

As part of this growth investment, Liu, Venkatachalam, and Chris McPherson, vice president at FTV Capital, will join ButterflyMX’s board of directors. Lead Edge Capital and Fifth Wall are participating as co-investors in this funding round, while existing investors JMI Equity and Volition Capital will continue to maintain their positions on the company’s board of directors.

Raymond James acted as financial adviser to ButterflyMX, and Houlihan Lokey acted as financial advisor to FTV Capital. Financial terms were not disclosed.

About ButterflyMX

ButterflyMX is your complete property access and security platform, providing a secure, convenient, and cost-effective way to manage and grant access on the go. Empower your tenants to open doors, gates, and elevators with a smartphone and ensure they never miss a visitor or delivery. Enjoy easy installation, cut costs by eliminating building wiring and in-unit hardware, and save time by integrating with popular access control and property management systems. Join the 16,000+ multifamily, commercial, gated community, and student housing properties that have made access simple with ButterflyMX. For more information, visit www.butterflymx.com or call (800) 398-4416.

About FTV Capital

FTV Capital is a sector-focused growth equity investment firm that has raised more than $10.2 billion to invest in innovative, high-growth companies across two sectors: enterprise technology and services and financial technology and services. Founded in 1998, FTV has developed a highly differentiated and disciplined growth equity model, which leverages the firm’s deep domain expertise and thematic investing approach to help portfolio companies accelerate growth. FTV also provides companies with access to its Global Partner Network®, a strategic group of more than 500 executives from many of the world’s leading financial services firms and FTV Propel®, an in-house team of seasoned operational leaders who deliver counsel and resources across a range of critical business functions. For more information, please visit www.ftvcapital.com and follow the firm on LinkedIn.

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Apollo and Standard Chartered Form US$3B Financing Partnership for Global Infrastructure and Energy Transition Credit

Apollo logo

Standard Chartered Acquires Minority Stake in Apterra, an Apollo Platform Specializing in Infrastructure Debt Origination

Agreement to Accelerate Capital Formation for Next-Gen Infrastructure and Transition Assets

NEW YORK and LONDON, Jan. 14, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and Standard Chartered PLC today announced a long-term strategic partnership to support and accelerate financing for infrastructure, clean transition and renewable energy globally, leveraging the leading origination and distribution capabilities of both firms.

As part of the agreement, Standard Chartered and Apollo Clean Transition Capital (“ACT Capital”), a sustainable investing platform, plan to contribute up to US$3 billion of clean energy and transition financing across a range of asset classes and sectors.

Origination for the partnership’s financing activities will be primarily undertaken by Apterra, an Apollo-owned platform that focuses on originating, structuring and deploying debt capital to execute infrastructure transactions globally. Standard Chartered has acquired a minority stake in the platform and will support its investment origination.

Jim Zelter, Apollo Asset Management Co-President, said, “The global industrial renaissance is creating unprecedented capital demands across next-gen infrastructure, sustainable power and other transition assets. This new agreement should accelerate our mutual financing and investment activity in these areas, and we are thrilled to do it in partnership with Standard Chartered, an important and long-time banking partner to Apollo’s franchise.”

Bill Winters, Group Chief Executive, Standard Chartered PLC said, “This partnership with Apollo, a market leader in alternative asset management, is a great opportunity to leverage our collective sector expertise and innovative mindset to help finance sustainable growth. Standard Chartered and Apollo have complementary origination and distribution capabilities, which increase the scale of the financing we can jointly deploy, and the size of the projects in which we can participate. We are very pleased to build on our long-term partnership with Apollo to both expand our existing geographical coverage and mobilise capital to these critical parts of the global economy.”

More Partnership Details

Apollo’s Clean Transition Capital strategy seeks to meet a wide range of clean energy and climate capital needs across credit and equities. Over the past 5 years, Apollo has deployed more than US$40 billion1 into energy transition and climate-related investments and believes the demand for capital in these areas will scale materially in the coming years.

Samuel Feinstein, Apollo Partner and President of ACT Capital, said, “We believe this partnership with Standard Chartered will serve as a significant accelerant to the growth of Apollo’s Clean Transition business and support its broader Infrastructure Credit platform, which are critical components of our firm’s strategic growth plans. We are equally pleased to welcome Standard Chartered as an aligned equity partner in the growing Apterra platform and believe we can expand our work together over time to serve the evolving needs of our global client bases. Collectively, ACT Capital and Apterra represent significant opportunities for Apollo and Standard Chartered to access climate and infrastructure credit.”

Apterra, an Apollo affiliate founded in 2023, has executed more than US$4.8 billion of transactions and is positioned to increase its already robust growth trajectory with the strategic equity support of Standard Chartered. Apterra is led by industry veterans Ralph Cho, co-CEO, and Michael Pantelogianis, co-CEO, alongside a highly experienced management team.

Standard Chartered, one of the world’s leading cross-border and wealth management banks, is among the top infrastructure lenders in Asia, Africa and the Middle East, with a strong and growing presence in the renewables sector.

Henrik Raber, Global Head, Global Banking at Standard Chartered, said: “With the global growth in infrastructure financing, and our strong presence in the sector, we are delighted to partner with ACT Capital, participate in Apterra and collaborate with the Apollo team. This is an exciting opportunity alongside our existing advisory and financing capabilities.”

As part of the partnership, Standard Chartered will provide a senior secured credit facility to ACT Capital to fund project finance and infrastructure loans. Financial terms for Standard Chartered’s purchase of a minority equity interest in Apterra are not disclosed. PJT Partners acted as exclusive financial advisor to Standard Chartered.

—

1. As of June 30, 2024. Deployment commensurate with Apollo’s proprietary Climate and Transition Investment Framework, which provides guidelines and metrics with respect to the definition of a climate or transition investment. Reflects (a) for equity investments: (i) total enterprise value at time of signed commitment for initial equity commitments; (ii) additional capital contributions from Apollo funds and co-invest vehicles for follow-on equity investments; and (iii) contractual commitments of Apollo funds and co-invest vehicles at the time of initial commitment for preferred equity investments; (b) for debt investments: (i) total facility size for Apollo originated debt, warehouse facilities, or fund financings; (ii) purchase price on the settlement date for private non-traded debt; (iii) increases in maximum exposure on a period-over-period basis for publicly-traded debt; (iv) total capital organized on the settlement date for syndicated debt; and (v) contractual commitments of Apollo funds and co-invest vehicles as of the closing date for real estate debt; (c) for SPACs, the total sponsor equity and capital organized as of the respective announcement dates; (d) for platform acquisitions, the purchase price on the signed commitment date; and (e) for platform originations, the gross origination value on the origination date.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2024, Apollo had approximately USD $733 billion of assets under management. To learn more, please visit www.apollo.com.

About Standard Chartered

We are a leading international banking group, with a presence in 52 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.

About Apterra

Apterra, an affiliate of Apollo Global Management, is a premier platform specializing in innovative financing solutions for infrastructure projects. Our tailored capital services empower clients, including financial sponsors and developers, to optimize assets and achieve sustainable growth. Fuelled by strong relationships, our distribution network ensures seamless access to capital through partnerships with banks, investors, and asset managers. We are focused on driving growth and operational integrity in the infrastructure sector, while creating enduring value for our clients. Visit www.Apterra.com to learn more.

Apollo Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

Standard Chartered Contacts

Piers Townsend
Global Head of Communications, Corporate & Investment Banking
Standard Chartered
Piers.townsend@sc.com
+6590059067

Shaun Gamble
Director, Group Media Relations
Standard Chartered
Shaun.gamble@sc.com
+442078855934

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Platinum Equity Offers Support, Temporary Housing to Employees Impacted by L.A. Fires

Platinum

BEVERLY HILLS, Calif. – The wildfires that have devasted the Los Angeles area have impacted many, including Platinum Equity and its L.A.-based employees.

Communities around Los Angeles have seen homes and schools destroyed as the wildfires have raced throughout the area, devastating entire neighborhoods and forcing evacuation orders or warnings for nearly 200,000 residents.

In response, Platinum Equity is offering full support to all employees who are either negatively impacted or helping family or friends during this difficult time.

“My thoughts and prayers are with all of our folks who have been impacted by the devastating wildfires across the Los Angeles area,” Platinum Equity Founder and CEO Tom Gores wrote to employees in an e-mail.

“Whether you are under an evacuation order, assisting friends and neighbors in need, or facing the loss of your home and community, I want to reassure you that as a member of the Platinum Family, you are not alone. We are here to support you through this difficult and uncertain time.”

The firm has reached out directly to employees in each of the affected areas, offering immediate support that includes temporary housing during periods of displacement.

“We continue to navigate uncertainty in the days ahead as the dedicated fire rescue teams work tirelessly to contain the various wildfires across our region,” Platinum Equity’s Head of Human Resources Emily Hofer said. “Mr. Gores has offered generous support to all of us, and most importantly, to our displaced employees and their families.”

With the safety and well-being of all top of mind, Platinum Equity employees have been encouraged to work from home, although the Beverly Hills office has remained open. (The building is located outside any designated evacuation warning or evacuation order zones.)

Firm leadership continues to monitor the situation and will adjust accordingly if the situation changes.

Gores and the Platinum Equity team are also currently formulating plans to aid relief and rebuilding efforts in the greater L.A. area.

The firm said it appreciates all the well-wishes and offers of support from others that have poured in from around the globe.

“As a global firm, our team in Los Angeles is grateful for all the messages of support we’ve received from our colleagues, investors and other business partners around the world,” Platinum Equity said in a released statement.

As of Monday morning, the wildfires are being blamed for 24 deaths and the destruction of more than 12,000 structures.

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AURELIUS Finance Company | National Timber Group

Aurelius Capital

AURELIUS Finance Company supports National Timber Group with GBP 35m super-senior ABL facility

London, January 14, 2025 – AURELIUS Finance Company, the Private Debt segment of AURELIUS, is pleased to announce the completion of a GBP 35m super-senior asset-based lending facility for National Timber Group (NTG). This complex, highly tailored ABL facility will replace NTG’s existing bank RCF, whilst providing significant incremental liquidity and enhanced flexibility. This will deliver increased working capital to support expected growing demand for timber.

The additional liquidity generated by the facility will increase working capital headroom as the company delivers on its growth plans. During its structuring, the team at AURELIUS Finance Company worked collaboratively with key stakeholders to create a complex and highly bespoke inter-creditor agreement to regulate the facility, alongside the existing term debt.

As is typical for a structure delivered by AURELIUS Finance Company, the facility creates the optimum level of availability by fully funding the working capital collateral base which comprises receivables and inventory across the company’s impressive national footprint.

James Marler, Director and Head of New Business at AURELIUS Finance Company commented:
“This is a landmark transaction for AURELIUS Finance Company as it demonstrates our ability to provide highly bespoke facilities of scale, at pace, for solid mid-market companies navigating complex scenarios. We were impressed by the strength of NTG’s underlying business, the quality of its management team, and by the support it has from its stakeholders. Based on this, we were determined to structure a super-senior facility which would deliver the liquidity and flexibility the business needs to realise its growth ambitions. By listening to the requirements of all key stakeholders, we were also able to tailor a highly bespoke inter-creditor agreement to facilitate the refinancing. As a team, we enjoyed the technical challenges involved in creating this structure, which we can now use to support other businesses facing similar sets of circumstances. We are delighted to welcome National Timber Group to our business.”

Emma Cunningham, CEO of National Timber Group said:
“AURELIUS Finance Company demonstrated clear enthusiasm to partner with us and to provide this financing solution, quickly crafting a term sheet which met all our key objectives from this refinancing exercise. The team then demonstrated the skills needed to meet the technical challenges of this transaction against tight deadlines. We were especially pleased that the facility which was put in place was exactly what had been outlined in the initial term sheet. This ability to deliver on the initial brief is absolutely vital in complex, fast-paced transactions. We look forward to continuing to build on our strong partnership with the AFC team.”

National Timber Group is the largest independent timber distribution and processing group in the UK. The company was formed through the acquisition of market-leading brands Thornbridge, NYTimber, Rembrand Timber and Arnold Laver. It has two main sales channels: timber merchanting and manufacturing. As a result, it serves a diverse customer base including joiners, housebuilders and contractors, and is a preferred supplier for large-scale infrastructure projects. The Group generates an annual turnover of more than GBP 300m, and has over 1,200 employees and 52 processing and distribution sites from the North of Scotland to London and the South West.

AURELIUS Finance Company was advised by Shoosmiths (Legal), and Gordon Brothers (Asset Appraisals).

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Chrysalix Carbon Neutrality Fund Announces its First Investment in Deadwood Innovations

Chrysalix

Chrysalix Venture Capital’s Carbon Neutrality Fund has made its inaugural investment in Deadwood Innovations, which upgrades low-grade lumber and waste into high-strength, sustainable products for premium engineered wood markets.

Alfred Lam

Jan 14, 2025

VANCOUVER, British Columbia and DELFT, Netherlands, Dec. 03, 2024 (GLOBE NEWSWIRE) — Chrysalix Venture Capital, a leading early-stage fund that specializes in transformational industrial innovation, is excited to announce an investment in Deadwood Innovations, developers of a solution to upgrade low-grade lumber, waste & underutilized species into high strength, durable & sustainable products in premium engineered wood markets.

“At Chrysalix, we recognize the significant challenges facing the forestry industry today, including rising costs, price volatility, shrinking margins, and the growing demand for sustainable products,” said Alfred Lam, Partner at Chrysalix. “We are excited to support Deadwood Innovations and their groundbreaking upgrading solution, which directly addresses these challenges by converting low-value feedstocks and waste into high-value products. This innovation improves sustainability and creates new market opportunities, driving growth, profitability and resilience for the sector.”

“We chose to partner with Chrysalix because they are one of the rare VC firms that truly understand industrial innovation and the unique challenges and opportunities within the forestry sector,” said Owen Miller, CEO of Deadwood Innovations. “As we enter the next phase of our journey, their expertise, extensive network, and commitment to our vision will be crucial in driving Deadwood’s growth across Canada and expansion into global markets.”

The investment will support the development of the first commercial-scale facility in Fort St. James, British Columbia, in partnership with the Nak’azdli Development Corporation. CEO John-Paul Wenger stated, “Partnering with Deadwood Innovations and Chrysalix enables us to demonstrate how investment, innovation, and collaboration can deliver meaningful economic reconciliation, diversify the forestry sector, and promote responsible forest management practices.”

Chrysalix has made this investment through its latest Industrial Innovation Fund, reaffirming its commitment to driving transformative change in resource-intensive industries such as mining, metals, forestry, energy, chemicals, manufacturing, transportation and more.

About Chrysalix Venture Capital

Chrysalix is a technology-focused VC firm that builds, mentors and connects high-growth companies. With more than 20 years of experience, Chrysalix has built its reputation on bringing disruptive innovation to the world’s largest industries by focusing on where technology meets science. Chrysalix has one of the strongest investment teams in the industry, with deep VC, technology, and corporate and entrepreneurial expertise. It is backed by more than 20 international blue-chip industrial and financial investors. For more information, visit: www.chrysalix.com.

About Deadwood Innovations

Deadwood Innovations is introducing the next step in the evolution of the forest industry. Our innovative technology transforms traditionally low-value timber into premium high-quality lumber products at a competitive price. Our mission is to unlock new profit margins and value for lumber producers while decreasing the carbon footprint of the forest industry. We are committed to enhancing the value of every tree, contributing to a more sustainable and profitable industry, and fostering mutually beneficial relationships between industry and First Nations. For more information, visit: https://deadwoodinnovations.ca/

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LearnPro acquires Redkite Systems

Apiary Capital

We are pleased to announce that the LearnPro Group has acquired Redkite Systems, adding Redkite’s market-leading Smart Training, Competency & Asset Management systems to the LearnPro virtual reality and e-learning software portfolio.

LearnPro Redkite

Redkite serves a diverse range of civilian and military fire services, including prominent global airports such as King Khalid International Airport and London Heathrow. The Redkite bolt-on follows LearnPro’s recent acquisition of Infographics, further establishing the company as a leading software provider to the global emergency services and critical infrastructure sectors.

Costi Karayannis, CEO of the LearnPro Group stated “The addition of Redkite to the LearnPro Group opens up opportunities to extend further into the global aviation and industrial sectors. We are passionate about extending our reach into relevant sectors through trusted products and believe the power of the combined group can drive even more value for our joint customers.”

“The acquisition of Redkite is an exciting opportunity for LearnPro,” said Ed Leeming, Investment Manager at Apiary Capital. “We look forward to supporting the company as it expands its customer base while continuing to deliver a high quality product to the global emergency services sector.”

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