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KKR and PSP Investments Acquire Minority Stake in Two American Electric Power Transmission Companies

KKR

Investment to support modernization of infrastructure and increased reliability

Strategic partnership comes as need for reliable power soars in the U.S.

NEW YORK–(BUSINESS WIRE)– Today, investment funds managed by KKR, a leading global investment firm, and the Public Sector Pension Investment Board (“PSP Investments”), one of Canada’s largest pension investors, announced an agreement to acquire a 19.9% interest in American Electric Power’s (“AEP”) Ohio and Indiana & Michigan transmission companies for $2.82 billion. Founded in 1906 and one of the largest electric utilities in the U.S., AEP has pioneered the country’s energy system through the delivery of safe, reliable and affordable energy for millions of homes. The investment will support AEP’s ability to meet increasing customer demand and enhance grid reliability. KKR and PSP Investments have formed a 50/50 strategic partnership to pursue the acquisition.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250109303908/en/

AEP is a fully regulated electric utility that serves 5.6 million retail and wholesale customers across 11 states. Ohio, Indiana and Michigan are among AEP’s fastest-growing service territories driven primarily by the strong American manufacturing industry and newer sources of load growth. The investment by KKR and PSP Investments in these two transmission companies will support AEP’s previously announced five-year capital plan to benefit customers.

“We are thrilled to strategically partner with the best-in-class leader in transmission in the U.S., and are impressed with AEP’s deep operational capabilities, highly experienced leadership team, and its history of innovation,” said Kathleen Lawler, Managing Director, KKR. “KKR’s infrastructure business has a long track record of investing behind the energy transition and electrification opportunities, and this investment in AEP sits squarely at the intersection of these two trends. The simplicity and stability of the assets, coupled with the robust demand for electricity, make AEP’s transmission assets an ideal investment for KKR.”

“We are delighted to form this partnership with AEP to support its ambitious growth plan to build much needed transmission infrastructure in a region that is undergoing significant tailwinds from digitalization and reshoring of critical manufacturing,” said Michael Rosenfeld, Managing Director, Infrastructure Investments, PSP Investments. “This investment marks an important milestone in PSP Infrastructure’s roll out of its High Inflation Correlated Infrastructure (“HICI”) strategy, which is predicated on investing in North American core infrastructure assets that exhibit a defensive and predictable inflation-linked cashflow profile.”

“We are pleased to launch this strategic partnership with two of the world’s premier global infrastructure investors. KKR and PSP are experienced investors in the utilities and energy space with a proven track record of successful infrastructure investments,” said Bill Fehrman, AEP president and chief executive officer. “This transaction allows AEP to efficiently finance a growing segment of our business and enhances our ability to serve growing customer demand and provide reliable service to our customers.”

Upon the closing of the transaction, AEP will remain the majority owner and operator of the transmission assets. KKR is funding this investment from its core infrastructure strategy.

Moelis and Morgan Stanley served as financial advisors and Simpson Thacher served as legal advisor to KKR and PSP Investments.

About KKR

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

About PSP Investments

The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investors with $264.9 billion of net assets under management as of March 31, 2024. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of Canada for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit investpsp.com or follow us on LinkedIn.

Media:

KKR
Liidia Liuksila or Emily Cummings
(212) 750-8300
media@kkr.com

PSP Investments
Charles Bonhomme
+1 438 465-1260
media@investpsp.ca

Source: KKR

 

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EQT to acquire distributed energy company Scale Microgrids

eqt

Transaction marks the EQT Transition Infrastructure strategy’s second highly thematic investment over the past month, to be acquired with capital from EQT’s balance sheet

Scale Microgrids is a vertically integrated energy company that designs, builds, finances, owns, and operates microgrids and distributed energy assets in North America, with a vision to power the world with distributed energy

EQT will support Scale Microgrids along its existing growth journey through significant investments in its commercial processes, tech platform and project execution capabilities, enabling the Company to own and operate billions of dollars in distributed generation assets

EQT is pleased to announce that EQT Transition Infrastructure (“EQT”) has agreed to acquire Scale Microgrids (“Scale” or the “Company”), a leading vertically integrated developer, acquirer, owner, and operator of microgrids and distributed energy resources for commercial & industrial, EV fleet, data center, municipal, university, hospital, and agricultural customers, developers and communities, from Warburg Pincus and other existing shareholders.

Headquartered in Ridgewood New Jersey, Scale’s portfolio consists of roughly 250 MWs of operating and in-construction assets, with another 2.5 GWs of near-term pipeline. Scale deploys a variety of technologies including solar, battery storage, natural gas generators, fuel cell and combined heat and power, and its portfolio represents one of the largest pure-play microgrid portfolios in the United States.

The transaction marks EQT’s first North American investment out of its recently launched Transition Infrastructure strategy, which is aimed at scaling businesses that enable the transition to clean energy and a more resource-efficient, circular economy. In December 2024, EQT announced the launch of the strategy and its inaugural investment in ju:niz Energy, a battery energy storage system developer and operator.

Jan Vesely, Partner and Head of EQT Transition Infrastructure, said: “We are thrilled that Scale Microgrids will become EQT Transition Infrastructure’s first investment in North America, underscoring our commitment to driving the energy transition globally and supporting a decarbonized and climate-resilient future while addressing the accelerated electricity demand in North America. We see enormous potential to accelerate Scale’s growth and establish it as one of the market’s leading vertically integrated energy companies.”

Ryan Goodman, CEO of Scale Microgrids, said: “Today marks the start of an exciting new chapter for our company. EQT brings a depth of experience, resources, and capital that will enable us to continue pursuing our vision to power the world with distributed energy. I’m incredibly proud of what our team has built, and believe this transaction will enable us to unlock even greater opportunities for the customers, employees, and communities we serve. We’re appreciative of our past shareholders, led by Warburg Pincus, for their support in helping us get to where we are today.”

Scale addresses several of today’s most pressing grid challenges, including rapid load growth from data centers and fleet electrification, power generation capacity constraints, and increased frequency of grid outages. Scale’s assets add resiliency to power systems, enable faster access to power relative to extended interconnection wait times, and provide cost savings and predictable power compared to the grid while advancing customers’ decarbonization and sustainability objectives.

Ryan Dalton, Managing Director at Warburg Pincus, said: “Scale has achieved incredible growth over the past five years, establishing a strong reputation as one of the leading providers of next generation power infrastructure. The Company has successfully grown to nearly 3 GW of operating, in-construction and near-term pipeline assets, closed multiple financings to fund future project development and maintains a strong customer base. We look forward to watching the Company’s next phase of growth with EQT, and continuing their mission to provide cleaner, cheaper and more reliable power.”

EQT brings a long-term strategic focus, deep experience in investing across the renewables infrastructure sector, and significant resources, and will focus on making strategic investments, including incremental capital, in Scale’s commercial processes, software systems, and project execution capabilities to continue to develop the business into a best-in-class, multi-technology energy services leader focused on the highest growth market segments, enabling Scale to own and operate billions of dollars in distributed generation assets.

The transaction is subject to customary conditions and approvals.

EQT was advised by Weil, Gotshal & Manges (legal) and Guggenheim Securities (financial). Scale Microgrids was advised by Latham & Watkins (legal), Nomura Greentech (financial), and Truist Securities (financial).

Contact

EQT Press Office, press@eqtpartners.com

Warburg Pincus Press Office, Sarah Bloom, Sarah.bloom@warburgpincus.com

Scale Microgrids Press Office, Nicole Green, ngreen@scalemicrogrids.com

About

About EQT

EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 134 billion in fee-generating assets under management), divided into two business segments: Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific, and the Americas and supports them in achieving sustainable growth, operational excellence, and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

About Scale Microgrids

Scale is a vertically-integrated energy company that designs, builds, finances, owns, and operates distributed energy assets that deliver cheaper, cleaner, and more resilient power. Their team accelerates growth in distributed energy by providing financing to project developers, while also directly helping large energy-consuming customers take charge of their energy supply with microgrids that integrate solar, batteries, and other on-site energy assets. Learn more at www.scalemicrogrids.com.

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Blackstone Invests $300 Million at a $5 billion Valuation in DDN, AI and Data Intelligence Solutions Leader, to Fuel Further Rapid Growth

Blackstone

Chatsworth, CA & New York, NY – January 9, 2025 – DDN, a global leader in AI and data intelligence solutions, today announced it has received a $300 million investment from funds managed by Blackstone Tactical Opportunities (“Blackstone”) at a $5 billion valuation. The investment will be used to help fund DDN’s continued rapid growth as it serves its customers’ fast-expanding AI and high-performance computing (HPC) software and infrastructure needs.

Founded in 1998, DDN has thousands of customers and supports over 500,000 NVIDIA GPUs for organizations ranging from top financial services, life sciences, and public sector clients to AI hyperscalers and cloud providers such as xAI and Lambda. DDN high-performance data intelligence platform is used to power NVIDIA clusters. DDN’s solutions help make data rapidly accessible for analysis and processing at high throughput and low latency – which are critical to helping power highly data-intensive AI and HPC workloads and ensuring maximum GPU utilization for the best performance and return on investment possible. Building on its two-decade heritage as a leader in high-performance storage, the company is a partner of choice for leading organizations seeking to implement scalable, reliable, and secure AI applications that deliver tangible business outcomes. DDN’s platform enables rapid data ingestion, real-time processing, and significantly faster insight generation—accelerating enterprise deployments of LLMs, Gen AI, and RAG for customer-facing applications, predictive analytics, and operational improvements.

“Blackstone’s support accelerates our mission to redefine the enterprise AI infrastructure category and scale at an even faster rate,” said Alex Bouzari, CEO and Co-Founder of DDN. “By fueling our mission to push the boundaries of data intelligence, we believe we can empower organizations worldwide with next-level AI solutions that drive groundbreaking innovation and deliver significant returns on their investments.”

“This investment enables us to execute our strategy to bring enterprise-grade AI solutions to companies of all sizes, transforming industries and delivering measurable outcomes,” said Paul Bloch, President and Co-Founder of DDN. “DDN is laser-focused on solving real AI business challenges, from accelerating LLM deployments to enhancing inferencing, so our customers can unlock their data’s potential and achieve tangible ROI faster than ever.”

Jas Khaira, Head of Blackstone Tactical Opportunities, Americas, said: “The digital infrastructure powering the AI revolution continues to be among our highest conviction investment themes at Blackstone. DDN’s solutions are trusted by many of the most important AI companies in the world and are critical to the next phase of development for transformative AI deployments. We are thrilled to be the first institutional investor in DDN and help further strengthen its market leadership for high-intensity AI workloads.”

John Watson, Managing Director at Blackstone, said: “Alex and Paul have built a highly innovative business that is poised to help further propel the exponential growth in artificial intelligence. We’re excited to partner with them and their team to further expand DDN’s reach and solutions in the years to come for the benefit of their customers.”

Blackstone is a leader in investing in the digital infrastructure driving AI innovation. Blackstone is the largest data center provider in the world with holdings across the U.S., Europe, India, and Japan. The company also recently made major investments in CoreWeave, a specialized provider of critical cloud infrastructure pioneering the AI revolution.

BofA Securities acted as the exclusive financial advisor to DDN in connection with the transaction.

For more information about DDN’s mission to transform data intelligence and redefine enterprise AI, visit www.ddn.com, DDN blog, and register for “Beyond Artificial”.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1.1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries, and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About DDN
DDN is the world’s leading AI and data intelligence company, empowering organizations to maximize the value of their data with end-to-end HPC and AI-focused solutions. Its customers range from the largest global enterprises and AI hyperscalers to cutting-edge research centers, all leveraging DDN’s proven data intelligence platform for scalable, secure, and high-performance AI deployments that drive 10x returns. Follow DDN: LinkedIn, X, and YouTube.

Media Contacts

Outcast for DDN
Brian Cronkhite: bcronkhite@thisisoutcast.com

Matt Anderson for Blackstone
Matthew.Anderson@blackstone.com

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Quorum Cyber Continues Expansion in North America with Kivu Consulting Acquisition

Charlesbank

Quorum Cyber expands its Incident Response capabilities by adding digital forensics, business restoration, and ransom negotiations to its service catalogue with the acquisition of the U.S. based company.

Edinburgh, UK and Berkeley, California, U.S. – January 9, 2025 – Quorum Cyber – headquartered in the U.K., with offices across North America and UAE – today announced the acquisition of Kivu Consulting Inc, a leading global cybersecurity firm specializing in Incident Response.

The strategic move bolsters Quorum Cyber’s rapid global expansion, as it comes just months after it acquired Difenda, a North American company that specializes in Microsoft Security Managed Services.

Founded in 2009, Kivu Consulting Inc, or ‘Kivu’, is a trusted partner in the global insurance, legal, and government sectors. The company is a leader in digital forensics, cyber incident response, business restoration, and ransom negotiations. Since its inception, Kivu has helped define the market for response, managed, and advisory services to protect organizations against compromised data, theft of trade secrets, and unauthorized access to data.

Kivu holds established relationships in over 40 Insurance and Legal panels across the U.S. and the U.K. This transformative acquisition not only rapidly expands Quorum Cyber’s presence within these industries, but also provides a robust foundation to strengthen its alliances and cement its status as a premier global threat management firm, renowned for its exceptional incident response capabilities.

In addition, the acquisition of Kivu enables Quorum Cyber to deliver its market-leading threat management services from three operations centers in the U.S., the U.K., and Canada to its customers worldwide.

Federico Charosky, CEO and Founder of Quorum Cyber, stated, “We are incredibly excited to welcome Kivu to Quorum Cyber. Kivu’s reputation for excellence and its strong history in incident response perfectly complement Quorum Cyber’s capabilities.”

Charosky continued, “The integration of Kivu’s stellar incident response teams and U.S.-based SOC, together with Quorum Cyber’s existing U.K., U.S. and Canadian operations, enables us to provide unparalleled 24/7 security coverage. This transaction highlights our rapid growth among incident response and threat management providers globally, reinforcing our commitment to delivering exceptional cybersecurity solutions, throughout North America, the U.K., and beyond.”

Shane Sims, Chief Executive Officer at Kivu, commented, “For the past 15 years, Kivu has leveraged its talent and forensic labs in the U.S. and U.K. to deliver threat intelligence-driven cybersecurity outcomes across every continent, serving organizations in all industries. Our success has been built on trusted partnerships with leaders in insurance, legal, technology, and government – all sharing the same goal of fighting cybercrime. Our acquisition by Quorum Cyber represents a strategic alignment with an organization and team that share our mission, vision, and core values, while immediately scaling our team, capabilities, and services in a big way. This is a natural next step for Kivu, and I am excited about what it means for our employees, clients, and trusted partners.”

Quorum Cyber’s back-to-back acquisitions of Kivu Consulting and Difenda underscore its aggressive growth strategy across North American and U.K. markets. Bolstered by ongoing support from its investors, Charlesbank Capital Partners and Livingbridge, the two acquisitions equip Quorum Cyber with the resources to strategically expand its service offerings and customer reach. The integration of Kivu’s incident response expertise and connections, coupled with Difenda’s managed services capabilities, marks a significant step in Quorum Cyber’s mission of asserting its market presence globally.

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Arcline Investment Management to Acquire Rotating Machinery Services, Inc.

Arcline

Bethlehem, Pennsylvania, January 9, 2025 – Arcline Investment Management (“Arcline”), a growth-oriented private equity firm, today announced the acquisition of Rotating Machinery Services, Inc. (“RMS” or the “Company”), an Original Equipment Manufacturer (“OEM”) and leading third-party provider of parts and services to a long-lived installed base of critical turbomachinery infrastructure globally.

Founded in 1998, RMS has reinvented the concept of an aftermarket turbomachinery business. The Company is equipped to provide a full suite of services including parts manufacturing, component repair, engineering, metrology, and service for both OEM and non-OEM equipment.

 

Arcline commented, “RMS demonstrates key traits we look for in our portfolio companies as a provider of mission critical, highly engineered, non-discretionary aftermarket parts and services to a massive installed base of critical infrastructure. The Company has an excellent reputation among customers and employees and is led by an experienced and deeply knowledgeable management team. We are confident the growth-oriented culture at RMS will fit well within the Arcline portfolio, and we are excited to partner with the management team for the Company’s next chapter of growth.”

John Bartos, CEO of RMS, added, “Arcline’s deep industry and business model experience and focus on growth is a perfect match with our management team, employees, and customers. Our success has been made possible by the hard work and dedication of the entire team at RMS, and we look forward to working with Arcline to continue executing on our vision to redefine the aftermarket turbomachinery business through superior parts offering, service, expertise, and customer focus.”

BMO served as financial advisor to Arcline in connection with the transaction.

 

About Arcline Investment Management

Arcline Investment Management is a growth-oriented private equity firm with $9.1 billion in cumulative capital commitments. Arcline seeks to invest in technology-driven, meaningful to the world industrial businesses that enable a better future. For more information visit www.arcline.com.

About Rotating Machinery Services, Inc.

Rotating Machinery Services, Inc. is headquartered in Bethlehem, Pennsylvania, and is a leading provider of specialty aftermarket repair, maintenance, and overhaul services for large, highly engineered turbomachinery. The Company operates out of nine facilities and serves a diverse, global customer base across a wide range of end markets.

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1211 Avenue of the Americas

Cdpq

RXR Acquires 49% Stake in 1211 Avenue of the Americas from Ivanhoé Cambridge

Real EstateNew York (U.S.) and Montreal (Canada), 

RXR, a fully integrated real estate company and one of the largest owners of commercial and residential properties in the New York region, announced today the closing of the acquisition of a 49% interest in 1211 Avenue of the Americas, one of the most recognizable and distinguished office buildings in New York City. The stake was acquired from Ivanhoé Cambridge, the global real estate group of CDPQ.

RXR and Ivanhoé Cambridge will continue the program to reposition the asset by investing over $300 million into the two million-square-foot property, launching a building modernization program designed to meet the demands of today’s leading global companies. The transformation will feature a reimagined multi-tenant lobby and a revitalized plaza. Improvements will also include a new amenity center, conference rooms, a wellness center, and other enhancements.

With this transaction, RXR and Ivanhoé Cambridge are creating a new partnership where both companies will work on the repositioning of this iconic office property. As the new operator of the building, RXR will also elevate the tenant experience through its signature RXO program, bringing a dedicated hospitality team to curate a dynamic programming calendar, including lobby activations, educational workshops, and wellness initiatives.

The lease extension by FOX and News Corp signed in 2023 secures approximately 55% of the building’s occupancy through 2042. However, the upcoming departure of a law firm in 2028 creates a rare opportunity in one of the most sought-after neighborhoods in New York City: over 600,000 square feet of contiguous premium space.

The availability of this space represents a unique ‘building within a building’ offering in the coveted Rockefeller Center/Midtown submarket, where space is increasingly scarce as availability rates remain well below the average of Midtown Manhattan. The property’s prominent location on Sixth Avenue, combined with its exceptional connectivity, positions it perfectly for companies seeking premium space.

“This transaction underscores our strong conviction in New York City’s office market and its unparalleled resiliency. While some had written off New York City and declared the office era over, we never wavered in our belief in our hometown,” said Scott Rechler, Chairman and CEO of RXR. “By partnering with Ivanhoé Cambridge to transform this iconic tower into a workplace that meets the demands of today’s global companies, we’re demonstrating that well-located, high-quality office buildings can thrive in a post-pandemic world. We’re not just investing in a building – we’re investing in the next chapter of New York City’s growth and recovery,” said Rechler.

“We are thrilled to welcome RXR as our partner and operator at 1211 Avenue of the Americas, a landmark property Ivanhoé Cambridge has owned for over a decade,” said Rana Ghorayeb, Executive Vice-President and Head of Real Estate CDPQ/Ivanhoé Cambridge. “Through this partnership, we intend to leverage RXR’s expertise in New York’s real estate market and invest in transforming one of the city’s most iconic buildings. This initiative aligns with our strategy to redefine workplace offerings that cater to the evolving needs of top-tier tenants in the country’s most sought-after markets,” said Ghorayeb.

Strategic Capital Alliance and Newmark advised RXR on the transaction.

ABOUT RXR

Headquartered in New York, RXR is a fully integrated real estate company and one of the largest owners of commercial and residential properties in the New York region. RXR owns and manages over 30.5 million SF of commercial properties and over 9,800 multi-family units.  RXR specializes in public-private partnerships and master developments, including the $4 billion development of Terminal 6 at JFK International Airport and a 1,100-acre, $3 billion mixed-use development in Raleigh, North Carolina.  Additionally, RXR has a multi-billion credit platform that leverages its real estate expertise to originate and acquire commercial real estate loans. RXR’s geographical footprint includes the New York metropolitan region and many of the nation’s fastest-growing markets, including Phoenix, Denver, Dallas, Raleigh, and Tampa.

ABOUT IVANHOÉ CAMBRIDGE

Ivanhoé Cambridge, the real estate portfolio of CDPQ, a global investment group with C$ 452 billion in assets, is built worldwide through strategic partnerships and market leading real estate funds. Ivanhoé Cambridge holds interests in more than 1,500 buildings, primarily in the logistics, residential, office and retail sectors. As of December 31, 2023, it held C$ 77 billion in gross real estate assets.

Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies globally. It does so responsibly and is committed to creating living spaces that foster the well-being of people and communities, while reducing their environmental footprint.

For more information: cdpq.com / ivanhoecambridge.com

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Novo Holdings co-leads €32 million Series A for Coave Therapeutics to advance pipeline of next-generation genetic medicines

Novo Holdings

Coave Therapeutics (‘Coave’), a biotechnology company focused on developing genetic medicines, today announced its €32 million ($33 million) Series A financing. The financing was co-led by Novo Holdings A/S and Bpifrance, with participation from Invus and UI Investissement, alongside existing investors Seroba Life Sciences, Fund+, Kurma Partners, Omnes Capital and Turenne Capital.

The financing will enable Coave to advance its proprietary ALIGATER™ (Advanced Vectors-Ligand Conjugates) platform, a breakthrough technology addressing key limitations in the delivery of genetic payloads to extra-hepatic tissues, including limited tissue specificity, delivery efficiency and safety.

ALIGATER™ enables conjugation of targeting ligands, such as small molecules, peptides, or antibody fragments, on AAV or non-viral vectors, offering superior delivery efficiency, tissue specificity and safety profile for a broad range of diseases.

The platform streamlines the manufacturing process by avoiding prior AAV capsid modifications. These capabilities could enable Coave to develop best-in-class genetic medicines designed for specific indications.

Further, the funding enables Coave to advance its lead pre-clinical assets towards clinical development, with a primary focus on the central nervous system (CNS), neuromuscular and eye diseases. Coave plans to advance two development candidates to CTA/IND-enabling studies in 2026.

“We are delighted to welcome this group of top-tier investors who share our vision for the ALIGATER™ platform. This funding is a critical milestone for Coave as we work to develop a new generation of targeted, safer, and more efficacious genetic medicines,” said Rodolphe Clerval, CEO of Coave. “It also reinforces our ability to expand collaborations with pharma and biotech partners, driving innovation in the field of genetic medicines for a broad range of diseases.”

Emmanuelle Coutanceau, Partner at Seed Investments, Novo Holdings, commented: “Coave’s unique technology platform, strong proof-of-concept data, and experienced team, position it at the forefront in the development of new generations of genetic medicines. Further, we are pleased to see Coave leveraging the strength of the Novo Holdings life science network by acquiring one of our early-stage companies operating in stealth mode. We are excited to announce this significant step in expanding Coave’s global footprint, with Denmark serving as a stepping stone in its international growth.”

“Coave, with its ALIGATER™ platform for creating a new class of targeted genetic medicines, has the potential to deliver groundbreaking new treatments to patients in need,” said Jean-François Morin, Investment Director at Bpifrance – InnoBio Funds. “With this Series A financing and a top-tier team, Coave will be able to progress its pipeline of internal programs.”

In connection to the financing, Emmanuelle Coutanceau and Jean Francois Morin will join Coave’s Board of Directors.

About Coave Therapeutics
Coave Therapeutics is a genetic medicine company pioneering the development of innovative solutions to enhance the precision, safety, efficacy and manufacturability of genetic medicines. With its proprietary ALIGATER™ platform, Coave is at the forefront of addressing challenges in gene therapy delivery to extra-hepatic tissues, creating a robust pipeline targeting CNS, neuromuscular and eye diseases.

Headquartered in Paris, France, Coave Therapeutics is backed by leading international life sciences investors. For more information about the science, pipeline, and people, please visit coavetx.com and follow us on LinkedIn.

About Bpifrance and InnoBio funds
Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurance. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export). InnoBio funds are investment funds dedicated to the life sciences, managed by Bpifrance, which is also one of the LPs alongside pharmaceutical companies and institutional investors. These funds aim to invest in companies developing innovative products, close to or in early clinical development, with the objective of bringing them to clinical proof of concept. InnoBio funds take minority equity stake in companies and can lead or co-lead the investment rounds. For more information, please visit: www.bpifrance.com

Further information

Novo Holdings
Marie-Louise Jersin, Senior Lead, Public Relations
maj@novo.dk

 

Coave Therapeutics 
Rodolphe Clerval, CEO
contact@coavetx.com

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Conscia continues European expansion with acquisition in Belgium

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Nordic Capital

With the acquisition of Silta, Conscia makes a market entry into Belgium, continuing its pan-European expansion to support customers across the Benelux region. In addition to a wider geographical footprint, the acquisition strengthens Conscia’s customer value proposition within cybersecurity, managed services, and hybrid cloud.

“We are delighted to welcome Silta to Conscia as our gateway to the Belgian market, aligning with our strategy to position Conscia as a pan-European player. Silta shares our focus on high expertise within key technology areas. Moreover, their customer focus, business model, and values mirror ours,” says Group CEO Erik Bertman, Conscia.

Based in Antwerp, Belgium, Silta is a medium-sized technology company founded in 2018 with expertise in secure, connected, and managed hybrid cloud solutions and services. The company is renowned for its strong customer base and team of 20 skilled professionals.

“At Conscia Netherlands, we have looked for a way into Belgium for some time and are happy to have found a great match with Silta. They have built a rock-solid reputation in Belgium with customers in public, industry and service sectors. Our products and services complement each other effectively, and we see many opportunities for our value proposition in the Belgian market, which is characterized by a few very large organizations and many smaller players,” says Marcel Cappetti, General Manager at Conscia Netherlands.

All employees at Silta will collaborate closely with their Dutch colleagues, fostering knowledge exchange and providing customer support in the Benelux region.

“For many years, Silta has been a valued strategic IT partner for our customers in Flanders. We have been able to distinguish ourselves through our high level of knowledge of cybersecurity, managed services and cloud, and our strategic collaboration with leading technology partners. Together with Conscia, we are entering a new phase of growth for our organization, customers and employees,” says Gunter Van de Cauter, Sales Director, Silta.

Silta will continue as Conscia Belgium. The current directors of Silta, Gunter Van de Cauter and Ronnie Dibbaut, will continue to lead the organization and are the first point of contact for customers and partners in Belgium as part of the management team of the newly established Benelux organization.

Conscia has made 21 acquisitions in nine European geographical markets since 2013. The parties have agreed not to disclose financial details of the transaction.

For further information, please contact:
Group Chief Sales & Marketing Officer Daniel Siberg, Conscia
+46 734 082 778, dasi@conscia.com.

About Silta
Silta is an IT specialist based in the port of Antw

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Yingling Aviation Acquires Global Engineering & Technology, Inc.

Ae Industrial Partners

cquisition further expands Yingling’s strategic footprint in Wichita, KS with additional capacity and strong expertise across the full spectrum of aircraft interior services

WICHITA, Kan.–(BUSINESS WIRE)–Yingling Aviation (“Yingling”), a leading, full-service provider of maintenance, repair, and overhaul (MRO) and fixed-base operation (FBO) services to business and general aviation aircraft, today announced that it has acquired Global Engineering & Technology, Inc. (“GETI”), an aircraft interiors service provider based in Wichita, Kansas. The financial terms of the transaction were not disclosed.

Founded in 1991, GETI specializes in aircraft interior design and restoration and has fabricated interiors for over 4,500 business aircraft to-date. With this acquisition, Yingling will gain access to GETI’s proven capabilities and track record of excellence across the full spectrum of aircraft interior repair and design services, including cabinet restoration, upholstered panel recovering, new furniture production, and seat recovering and refurbishment. Additionally, Yingling will continue to expand its Wichita footprint, with GETI’s over 60,000 square feet of facility space further strengthening capacity for growth.

“Integrating GETI into our operations will allow us to greatly increase our scope of work for interior renovations while accelerating client turnaround times,” said Bob Rasberry, CEO, Yingling Aviation. “Having collaborated closely with GETI over the years, we have firsthand knowledge of the quality of their team and its outstanding reputation across the industry.”

“Together, we have the potential to unlock real synergies by combining our knowledge and experience in interior fabrications with Yingling’s deep maintenance and repair expertise,” said Kurt Smith, President of GETI. “We look forward to working closely with the Yingling team as we integrate our organizations, diversify our customer base, and bring our comprehensive capabilities to market.”

“The acquisition of GETI marks another milestone in our strategy to build a unique independent MRO platform with deep operating experience and technical expertise to serve the business aviation market,” added Jon Nemo, Managing Partner at AE Industrial Partners. “The range of services GETI provides is a natural complement to Yingling’s MRO business and will allow us to unlock new growth opportunities together.”

About Yingling Aviation

Yingling is a full-service maintenance, repair, and overhaul (MRO) and fixed-base operations (FBO) business located at Dwight D. Eisenhower airport in Wichita, Kansas. Yingling has extensive capabilities from nose to tail, including airframe maintenance, avionics, interiors, paint, propellers, and parts sales in support of a diverse range of business and general aviation airframes. Learn more at www.yinglingaviation.com.

About Global Engineering & Technology, Inc.

Global Engineering & Technology, Inc. (GETI) is a premier provider of aircraft interior solutions based in Wichita, Kansas. Offering the industry’s most versatile and luxurious selection of custom furniture, cabinetry, and upholstery, GETI specializes in enhancing and modifying aircraft interiors. Committed to quality and innovation, the company excels in both new cabin installations and refurbishments, delivering tailored solutions that meet each client’s unique needs.

About AE Industrial Partners

AE Industrial Partners is a private investment firm with $5.6 billion of assets under management focused on highly specialized markets including national security, aerospace and industrial services. AE Industrial Partners has completed more than 130 investments in market-leading companies that benefit from its deep industry knowledge, operating experience, and network of relationships across the sectors where the firm invests. With a commitment to driving value creation in partnership with the management teams of its portfolio companies, AE Industrial Partners invests across private equity, venture capital, and aerospace leasing.

Media Contact:
Stanton Public Relations
Matthew Conroy
(646) 502-3563
aeroequity@stantonprm.com

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IK opens Munich office and promotes three to Partner

IK Partners

IK Partners (“IK” or “the Firm”), a leading European private equity firm, is pleased to announce that it has opened a new office in Munich, Germany as part of its ongoing commitment to investing in the DACH region.

The Munich office will be led by Joachim Dettmar, Partner within IK’s Operations Team and Adrian Tanski, who has been promoted to Partner and sits within the Partnership Fund team. Previously based in IK’s Hamburg office, Adrian joined the Firm as an Associate Director in the DACH Mid Cap team in 2018, where he was involved in a range of transactions, including the exit of KLINGEL Medical Metal in 2023 as well as the acquisitions of MÜPRO in 2022 and CONET in 2021.

IK’s Partnership Fund strategy was launched in 2019 and targets larger, more established businesses at the higher end of the mid-market. IK invests alongside existing owners or new partners through minority positions.

In addition, IK is delighted to announce two further promotions to Partner across the Firm’s Hamburg and London offices:

  • Ingmar Bär – Development Capital Investment Team, Hamburg
  • Alexandra Kazi – Finance and Administration Team, London

Christopher Masek, Chief Executive Officer at IK, commented: “After what has been another very successful year for IK, we are delighted to celebrate the contributions of Adrian, Ingmar and Alexandra, whose commitment and efforts have been recognised through their promotions to the Partner Group. Furthermore, we are reinforcing our well-established base in the DACH region with the opening of a new office in Munich, helping to cement our position as one of the leading partners to European small and medium-sized enterprises.”

Adrian Tanski, Partner at IK, commented: “I am thrilled to be heading up IK’s new Munich office, together with Joachim, to strengthen our presence in the dynamic and attractive DACH market. Munich’s thriving economy, strong industrial base and access to high-calibre talent make it an ideal location for expanding our reach and originating exciting investment opportunities.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

ENDS

Adrian Tanski

  • Adrian Tanski joined IK in 2018 and is the Partner responsible for the DACH Partnership Fund Investment team, based in Munich.
  • He specialises in the Industrials sector and has been involved in several Mid Cap and Partnership Fund transactions across the DACH region.
  • Prior to joining IK, Adrian worked at Emeram Capital Partners, having gained an MBA from London Business School as well as a BA in Business Administration from the University of St. Gallen.
  • In addition to his professional skills, Adrian is an accomplished concert pianist.

Ingmar Bär

  • Ingmar Bär joined IK in 2018 and is the Partner responsible for the DACH Development Capital Investment team, based in Hamburg.
  • He has been involved in several Small Cap and Development Capital transactions across the DACH region.
  • Prior to joining IK, Ingmar worked at Triton Partners, having gained an MBA from INSEAD, a MSc in Finance from Bocconi University and a MSc in Accounting from Rotterdam School of Management.

Alexandra Kazi

  • Alexandra Kazi joined IK in 2017 and is the Partner responsible for Tax, Legal and Corporate Operations at IK.
  • She has responsibility for structuring matters across IK, its funds and transactions, as well as oversight of tax reporting, governance and various operational initiatives.
  • Prior to joining IK, Alexandra was employed at PwC, having qualified as an ACA Accountant and gained a BSc in Economics and Chinese Studies from the University of Nottingham.

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €17 billion of capital and invested in more than 195 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com

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