PAI Partners completes a €3.6 billion equity transaction to reinvest into Froneri, including significant co-investment from ADIA and new single-asset continuation vehicle led by Goldman Sachs Alternatives

admin October 2, 2025

PAI Partners (“PAI”), a pre-eminent private equity firm, today announces the successful completion of a €3.6 billion equity transaction and the establishment of a new ownership structure for its c. 50% stake in Froneri (the “Company”), the global pure-play leader in ice cream.

As part of establishing the new ownership structure, a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) will become a significant minority co-investor in Froneri, alongside PAI and a new single-asset continuation vehicle (the “CV”). The CV constitutes one of the largest single asset CV transactions in Europe to date, led by Vintage Strategies at Goldman Sachs Alternatives.

The CV was oversubscribed, reflecting strong demand from both existing and new investors, and confidence in Froneri’s long-term growth prospects. This follows the Company’s successful debt financing earlier this year, further strengthening its balance sheet and supporting its future expansion.

Froneri was formed in 2016 through a 50:50 joint venture to combine PAI’s R&R Ice Cream with Nestlé’s European ice cream business. Since then, it has been transformed from a predominantly European, private-label producer into a brand-led, global business with €5.5 billion in revenue.

Today, Froneri is a leader in each of its core markets, combining a portfolio of iconic ice cream brands with strong innovation capabilities and operational expertise. It also holds leading positions in the fast-growing snacking and premium segments, supported by trusted brand partnerships and a well-invested supply chain.

Going forward, Froneri has an opportunity to further build on this performance by leveraging its established value-creation playbook, focusing on robust organic growth, operational efficiency and strategic market consolidation.

Frédéric Stévenin, Co-Managing Partner at PAI Partners, said: “Froneri is a clear example of PAI’s ability to create and grow global champions in the consumer sector. Since we first partnered with Nestlé in 2016, the business has successfully expanded into new markets, strengthened its branded portfolio and established itself as a global leader. This success is also a testament to the strength and commitment of Froneri’s management team. We are proud to continue our journey with Froneri and Nestlé, and to welcome ADIA and other leading global institutions as shareholders for Froneri’s next phase of growth.”

Phil Griffin, CEO of Froneri, said: “Froneri has grown into one of the world’s leading ice cream companies since its formation in 2016. The renewed commitment of our partners, combined with the addition of new investors and capital, reflects confidence in our business and reinforces the strong partnership that underpins our growth. We look forward to building on this momentum in the years ahead.”

Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, said: “Froneri is a leading global consumer business with strong prospects for the future. This transaction offers a compelling opportunity to support the Company for its next phase of growth alongside experienced and proven partners.”

Gabriel Mollerberg, Managing Director at Goldman Sachs Alternatives, said: “We are excited to continue the journey with Froneri and partnership with PAI as the lead investor in the new continuation vehicle. Froneri’s market positioning, attractive financial characteristics, exceptional operational execution and strong alignment with all key shareholders made it a strong continuation vehicle candidate. We look forward to this next chapter alongside PAI and management.”

Evercore acted as the sole financial adviser to PAI on the CV transaction. Rothschild acted as corporate finance advisers to Froneri. Deutsche Bank acted as an exclusive financial adviser to ADIA.

Categories: News

Tags: Consumer brands

CVC raises €10.4 billion for its European direct lending strategy

admin October 2, 2025

CVC Credit, the global credit management business of CVC, is pleased to announce the final close of its fourth European Direct Lending fund (“EUDL IV”)

CVC has raised €10.4 billion¹ to deploy across the European Direct Lending opportunity, representing a significant increase over CVC’s prior European Direct Lending funds, which raised €6.3 billion¹ in 2022 and €1.3 billion¹ in 2020.

The growth of CVC’s European Direct lending platform has been underpinned by CVC’s deep local relationships across its network of sixteen European offices, and CVC’s focus on Europe for over forty years.

Rob Lucas, CEO at CVC said: “This is an excellent outcome for our latest European Direct Lending fund reflecting strong investment performance and deep and longstanding relationships with the highest quality institutional investors.

This is an excellent outcome for our latest European Direct Lending fund reflecting strong investment performance and deep and longstanding relationships with the highest quality institutional investors

Rob LucasCEO, CVC

“CVC’s Credit platform benefits greatly from our international network of 30 local offices and its deep investment expertise. We are the number one CLO manager and a top three Private Credit manager in Europe. Our Liquid and Private Credit strategies have grown consistently over recent years and together now account for nearly a quarter of CVC’s total assets under management. We continue to see a significant number of opportunities for further growth in our Credit platform and forms a key part of our broader ambitions in Insurance and Private Wealth.”

Andrew Davies, Managing Partner, Head of CVC Credit, said: “We are extremely grateful for the continued trust and support of CVC’s global investor base. The European private credit market has developed significantly in recent years, driven by structural tailwinds and the increasing relevance of private credit within the wider credit ecosystem. We have capitalised on this market shift to scale our platform and deepen our resources, establishing CVC Credit as one of the top three private credit players in Europe.

“Looking ahead, our focus remains on delivering compelling financing solutions for Europe’s leading financial sponsors. By leveraging the insights from CVC’s leading Private Equity platform and the strength of the wider CVC Network, we are ideally positioned to act as a reliable long-term partner and to continue to take advantage of the significant European credit opportunity.”

EUDL IV has already made strong progress, committing to more than 30 investments. Recent transactions completed by EUDL IV include: KKR’s buyout of Immedica Pharma; the acquisition and growth strategy of smartTrade; Cinven’s acquisition of idealista; acting as sole lender for the acquisition of Innovative Beauty Group; and, supporting the delisting of Alpha FMC from the AIM market of the London Stock Exchange by Bridgepoint.

CVC Credit manages total assets of more than €48 billion (€43 billion of fee paying AUM) across its Liquid Credit and Private Credit businesses. The Private Credit platform comprises its European Direct Lending and Capital Solutions strategies with assets of more than €18 billion.

^{1. Taken together with parallel investment funds and accounts}

Categories: News

Tags: Funds Private Credit

Renta Acquires Tornby Byggmaskiner

admin October 2, 2025

Renta Group Oy (“Renta Group” or “Renta”) acquires Tornby Byggmaskiner Holding AB (“TBM” or “the Company”). TBM is a Swedish general rental company operating in the Östergötland region out of three depots. The Company has more than 20 employees and annual revenues of approximately SEK 80 million.

With the acquisition Renta further strengthens its position in Linköping and expands its depot network to Motala and Mjölby. TBM is an excellent addition to Renta’s Swedish operations with its strong profitability and skilled staff. As part of Renta, TBM will benefit from leveraging Renta’s full product range and from implementing Renta’s digital solutions. The strong local market position and experienced management team of TBM creates a solid foundation for continued growth in the region.

The acquisition has been completed.

Joacim Johansson, Managing Director at Renta Sweden, said: “We are very pleased to welcome TBM into Renta. This acquisition is an excellent fit geographically that further strengthens our position in the Östergötland region and marks another step towards our ambition to build a nationwide rental network in Sweden. With TBM’s strong local reputation and capabilities, we see great opportunities ahead. We look forward to working together with the talented team at TBM. “

Elias Andreasson of TBM, said: “We are excited to become part of Renta. By joining forces, we will be able to expand our offering and take on larger projects, while continuing to serve our customers with the same high-quality service as before. Our customers will further benefit from Renta’s digital solutions and broader product portfolio. I am confident that Renta will provide a good home to our employees, and that together we will be able to strengthen our position in the region. ”

Enquiries: ir@renta.com

About Renta Group

Renta Group is a Northern European full-service equipment rental company founded in 2015. The Company has operations in Finland, Sweden, Norway, Denmark, Poland, and the Baltics, with 191 depots and more than 2,300 employees. Renta is a general rental company with a wide range of construction machines and equipment along with related services. In addition to operating a network of general rental depots, Renta is a supplier of specialty rental equipment and services. For more information, visit www.renta.com

About TBM

Tornby Byggmaskiner Holding AB is a Swedish general rental company, founded in 2015. The Company has three depots located in Linköping, Motala and Mjölby. For more information, visit www.tbmhyrut.se

Categories: News

Tags: Industry

ChiroHD Acquires SKED and Spark, Establishing an Ecosystem to Help Chiropractors Better Serve Patients and Grow Business

admin October 1, 2025

ChiroHD, the leading cloud-native practice management platform for chiropractors, today announced the acquisitions of SKED and Spark, two of the profession’s most respected patient engagement companies. SKED brings mobile-first scheduling and communication automation trusted by thousands of clinics, while Spark delivers AI-powered engagement flows that improve retention and consistency without staff effort. Together, these solutions strengthen ChiroHD’s vision of building a seamless ecosystem that reduces administrative stress, improves patient follow-through, and unlocks new growth opportunities—keeping doctors focused on delivering life-changing care.

“Chiropractors step into practice because they want to impact lives, not wrestle with paperwork, billing, or endless administrative headaches,” said Gabriel Doty, CEO and co-founder of ChiroHD. “We’re eliminating business friction and giving chiropractors back the freedom to focus on what truly matters: restoring health and hope through the adjustment.”

Under Doty’s leadership, ChiroHD pioneered intuitive practice management software and set a new standard for streamlined workflows and evidence-based chiropractic metrics. With SKED, founded by Dr. Erik Kowalke, chiropractors gained the industry’s most trusted scheduling and communication platform, recognized on the Inc. 5000 list year after year. Now with Spark’s next-generation AI-powered engagement capabilities, the combined platform represents a significant leap forward for the chiropractic profession.

“This is a major step forward for chiropractic,” said Dr. Erik Kowalke, founder of SKED. “From day one, SKED was built to help practices connect with their patients more meaningfully. By joining forces with ChiroHD and integrating Spark’s intelligent automation, we’re creating a connected ecosystem that streamlines the day-to-day and helps doctors inspire consistency and commitment in their patients.”

‍Solving Business Burdens so Chiropractors Can Deliver Life-Changing Care
‍Across the profession, chiropractors continue to voice the same challenges: insurance headaches, scheduling chaos, overwhelming documentation, and the strain of running a business when their true passion is adjusting spines and serving families.By bringing ChiroHD, SKED, and Spark together in one connected system, chiropractors gain:

‍ChiroHD: Doctor-first EHR and practice management

SKED: Seamless scheduling, messaging, and automation

Spark: AI-powered patient engagement and retention

This integrated approach allows clinics to run their entire practice from a single platform, confident that administrative details are handled while they focus on restoring nervous system health and fueling practice growth.Learn more and sign up for the upcoming webinar at www.chirohd.com/web/landing-pages/chirohd-expands
‍
‍About ChiroHD
‍ChiroHD is a cloud-based EHR solution and a passionate advocate for the chiropractic community. With a mission to simplify business so chiropractors can amplify impact, ChiroHD partners with practices from single-doctor offices to multi-location groups and franchises. The platform offers a 4.9-star support rating and collaborates with leading chiropractic universities on research initiatives. Learn more at www.chirohd.com.

‍About SKED
‍Founded by Dr. Erik Kowalke out of a thriving family practice, SKED has become chiropractic’s leading communication and automation platform. Designed by chiropractors for chiropractors, SKED simplifies patient scheduling, reminders, and digital intake while reducing front desk chaos. Clinics using SKED see fewer no-shows, stronger visit consistency, and more 5-star reviews, allowing doctors to focus on care instead of logistics. Learn more at www.sked.life.

‍About Spark
‍Spark is the AI-powered patient engagement solution that helps chiropractors inspire patients beyond the adjustment table. By using intelligent automation, Spark keeps patients consistent, accountable, and excited about their care. From converting website visitors with an AI chatbot to reactivating patients who’ve drifted away, Spark extends a doctor’s impact and strengthens long-term outcomes—without adding front desk workload. Learn more at www.sparkpatients.com.

Categories: News

Tags: Software

EA Announces Agreement to be Acquired by PIF, Silver Lake, and Affinity Partners for $55 Billion

admin October 1, 2025

Accelerates EA’s Strategic Vision to Advance the Future of Entertainment

Stockholders to Receive $210 Per Share in Cash Representing 25% Premium to Unaffected Share Price

Transaction Represents Largest All-Cash Sponsor Take-Private Investment in History

REDWOOD CITY, Calif. – September 29, 2025 – Electronic Arts Inc. (NASDAQ: EA) (“EA” or the “Company”), a global leader in interactive entertainment, today announced that it has entered into a definitive agreement to be acquired by an investor consortium (“the Consortium”) comprised of PIF, Silver Lake, and Affinity Partners in an all-cash transaction that values EA at an enterprise value of approximately $55 billion. The transaction positions EA to accelerate innovation and growth to build the future of entertainment.

Under the terms of the agreement, the Consortium will acquire 100% of EA, with PIF rolling over its existing 9.9% stake in the Company. EA stockholders will receive $210 per share in cash. The per share purchase price represents a 25% premium to EA’s unaffected share price of $168.32 at market close on September 25, 2025, the last fully unaffected trading day, and a premium to EA’s unaffected all-time high of $179.01 at market close on August 14, 2025.

PIF, Silver Lake, and Affinity Partners bring deep sector experience, committed capital, and global portfolios with networks across gaming, entertainment, and sports that offer unique possibilities for EA to blend physical and digital experiences, enhance fan engagement, and create new growth opportunities. The transaction represents the largest all-cash sponsor take-private investment in history, with the Consortium partnering closely with EA to enable the Company to move faster and unlock new opportunities on a global stage.

“Our creative and passionate teams at EA have delivered extraordinary experiences for hundreds of millions of fans, built some of the world’s most iconic IP, and created significant value for our business. This moment is a powerful recognition of their remarkable work,” said Andrew Wilson, Chairman & CEO of Electronic Arts. “Looking ahead, we will continue to push the boundaries of entertainment, sports, and technology, unlocking new opportunities.

Together with our partners, we will create transformative experiences to inspire generations to come. I am more energized than ever about the future we are building.”

“PIF is uniquely positioned in the global gaming and esports sectors, building and supporting ecosystems that connect fans, developers, and IP creators,” said Turqi Alnowaiser, Deputy Governor and Head of International Investments at PIF. “PIF has demonstrated a strong commitment to these sectors, and this partnership will help further drive EA’s long-term growth, while fueling innovation within the industry on a global scale.”

“This investment embodies Silver Lake’s mission to partner with exceptional management teams at the highest quality companies. EA is a special company: a global leader in interactive entertainment, anchored by its premier sports franchise, with accelerating revenue growth and strong and scaling free cash flow. We are honored to invest and partner with Andrew – an extraordinary CEO who has doubled revenue, nearly tripled EBITDA, and driven a fivefold increase in market cap during his tenure,” said Egon Durban, Co-CEO and Managing Partner of Silver Lake. “The future for EA is bright, we are going to invest heavily to grow the business and we are excited to support Andrew and the EA team as the company accelerates innovation, expands its reach worldwide, and continues to deliver incredible experiences to players and fans across generations.”

“Electronic Arts is an extraordinary company with a world-class management team and a bold vision for the future. I’ve admired their ability to create iconic, lasting experiences, and as someone who grew up playing their games – and now enjoys them with his kids – I couldn’t be more excited about what’s ahead,” said Jared Kushner, Chief Executive Officer of Affinity Partners.

“The Board carefully evaluated this opportunity and concluded it delivers compelling value for stockholders and is in the best interests of all stakeholders,” said Luis A. Ubiñas, Lead Independent Director of EA’s Board of Directors. “We are pleased that this transaction delivers immediate and certain cash value to our stockholders while strengthening EA’s ability to continue building the communities and experiences that define the future of entertainment.”

Transaction Details

The transaction was approved by EA’s Board of Directors, is expected to close in Q1 FY27 and is subject to customary closing conditions, including receipt of required regulatory approvals and approval by EA stockholders. Following the close of the transaction, EA’s common stock will no longer be listed on any public market.

The transaction will be funded by a combination of cash from each of PIF, Silver Lake, and Affinity Partners as well as roll-over of PIF’s existing stake in EA, constituting an equity investment of approximately $36 billion, and $20 billion of debt financing fully and solely committed by JPMorgan Chase Bank, N.A., $18 billion of which is expected to be funded at close. Each of PIF, Silver Lake, and Affinity Partners plan to fund the equity component of the financing entirely from capital under their respective control.

Upon completion of the transaction, EA will remain headquartered in Redwood City, California and continue to be led by Andrew Wilson as CEO.

Advisors

Goldman Sachs & Co. LLC is serving as EA’s financial advisor and Wachtell, Lipton, Rosen & Katz is serving as EA’s legal advisor.

Kirkland & Ellis LLP is serving as legal counsel to the Consortium. Kirkland & Ellis LLP is serving as lead legal counsel for PIF with specialized counsel from Gibson, Dunn & Crutcher LLP. Latham & Watkins LLP and Simpson Thacher & Bartlett LLP are serving as Silver Lake’s legal counsel. Sidley Austin LLP is serving as Affinity Partners’ legal counsel.

J.P. Morgan Securities LLC is serving as financial advisor to the Consortium.

As a result of this announcement, for its Q2 FY26 earnings release scheduled for October 28, 2025, EA will release financial and operational results through a press release and will not hold a conference call or webcast.

About Electronic Arts

Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers.

In fiscal year 2025, EA posted GAAP net revenue of approximately $7.5 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS FC™, Battlefield™, Apex Legends™, The Sims™, EA SPORTS™ Madden NFL, EA SPORTS™ College Football, Need for Speed™, Dragon Age™, Titanfall™, Plants vs. Zombies™ and EA SPORTS F1®. More information about EA is available at www.ea.com/news.

EA, EA SPORTS, EA SPORTS FC, Battlefield, Need for Speed, Apex Legends, The Sims, Dragon Age, Titanfall, and Plants vs. Zombies are trademarks of Electronic Arts Inc. John Madden, NFL, FIFA and F1 are the property of their respective owners and used with permission.

About PIF

PIF is one of the world’s most impactful investors, enabling the creation of key sectors and opportunities that help shape the global economy, deliver returns and drive the economic transformation of Saudi Arabia. The gaming and esports industry is one of its priority sectors, contributing to the diversification of the local economy, while at the same time driving investment returns.

About Silver Lake

Silver Lake is a global technology investment firm, with more than $110 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe and Asia. Silver Lake’s portfolio companies collectively generate approximately $260 billion of revenue annually and employ approximately 448,000 people globally.

About Affinity Partners

Affinity Partners is a Miami-based investment firm founded in 2021 by Jared Kushner. With over $5.4B under management and a team of 30+ professionals, Affinity focuses on growth equity, financial services, and technology investments at scale, with a flexible mandate across industries and geographies.

Cautionary Statement Regarding Forward-Looking Statements

Some statements set forth in this release contain forward-looking statements that are subject to change. Statements including words such as “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “predict,” “seek,” “goal,” “will,” “may,” “likely,” “should,” “could” (and the negative of any of these terms), “future” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters may identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the benefits of and timeline for closing the transaction. These forward-looking statements are based on various assumptions, whether or not identified in this press release, are not guarantees of future performance and reflect management’s current expectations. Our actual performance could differ materially from those discussed in the forward-looking statements. Some of the factors which could cause the Company’s results to differ materially from its expectations include the following: the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed transaction that could delay the consummation of the proposed transaction or cause the parties to abandon the proposed transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement entered into in connection with the proposed transaction; the possibility that the Company’s stockholders may not approve the proposed transaction; the risk that the parties to the merger agreement may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all; risks related to disruption of the Company’s business resulting from the transaction, including disruption of management time from ongoing business operations due to the proposed transaction; risks relating to certain restrictions during the pendency of the proposed transaction that may impact the ability of the Company to pursue certain business opportunities or strategic transactions; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the Company’s common stock, including if the proposed transaction is not consummated; the risk of any unexpected costs or expenses resulting from the proposed transaction; the risk of any litigation relating to the proposed transaction; the risk that the proposed transaction and its announcement could have an adverse effect on the ability of the Company to retain and hire key personnel and to maintain relationships with customers, vendors, partners, employees, stockholders and other business relationships and on its operating results and business generally; and the risks and uncertainties that will be described in the proxy statement available from sources indicated below. Further information on factors that could cause actual results to differ materially from the results anticipated by the forward-looking statements is described in Part I, Item 1A of Electronic Arts’ latest Annual Report on Form 10-K under the heading “Risk Factors”, as well as in Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other documents we have filed with the Securities and Exchange Commission (the “SEC”). These filings are available on the investor relations section of the Company’s website at https://ir.ea.com or on the SEC’s website at https://www.sec.gov. The forward-looking statements made in this press release are current only as of the date hereof. Electronic Arts assumes no obligation to revise or update any forward-looking statement, except as required by law.

Additional Information and Where to Find It

In connection with the proposed transaction between the Investor Group and the Company, the Company will file with the SEC a preliminary Proxy Statement of the Company (the “Proxy Statement”). The Company plans to mail to its stockholders a definitive Proxy Statement in connection with the proposed transaction. THE COMPANY URGES YOU TO READ THE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE INVESTOR GROUP, THE PROPOSED TRANSACTION AND RELATED MATTERS. You will be able to obtain a free copy of the Proxy Statement and other related documents (when available) filed by the Company with the SEC at the website maintained by the SEC at https://www.sec.gov. You also will be able to obtain a free copy of the Proxy Statement and other documents (when available) filed by the Company with the SEC by accessing the investor relations section of the Company’s website at https://ir.ea.com or by contacting the Company’s investor relations department at ir@ea.com or calling (650) 628-0406.

Participants in the Solicitation

The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company’s stockholders in connection with the merger.

Information regarding the directors and executive officers of the Company is set forth (i) in the Company’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, including under the headings “Proposal 1: Election of Directors,” “Compensation Discussion and Analysis,” “Executive Compensation Tables,” “Security Ownership of Certain Beneficial Owners and Management” and “Related Persons Transactions,” which was filed with the SEC on June 24, 2025 and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/0000712515/000130817925000556/ea 014143-def14a.htm, and (ii) to the extent holdings of the Company’s securities by its directors or executive officers have changed since the amounts set forth in the Company’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, such changes have been or will be reflected on Initial Statement of Beneficial Ownership of Securities on Form 3, Statement of Changes in Beneficial Ownership on Form 4, or Annual Statement of Changes in Beneficial Ownership on Form 5 filed with the SEC, which are available at EDGAR Search Results https://www.sec.gov/edgar/browse/?CIK=712515&owner=only.

Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of these documents through the website maintained by the SEC at https://www.sec.gov.

Categories: News

Tags: Entertainment

Motors & Armatures to Sell Parts Division to CSW Industrials for $650 Million

admin October 1, 2025

Transaction follows significant operational transformation of MARS under Platinum Equity ownership

MARS to continue investing in growth of equipment business

LOS ANGELES (Oct. 1, 2025) – Platinum Equity portfolio company Motors & Armatures (MARS) today announced it has signed a definitive agreement to sell its parts division (“MARS Parts”) to CSW Industrials, Inc. (NYSE: CSW) for $650 million in cash, subject to customary closing adjustments. The transaction also includes an earn-out valued at up to $20 million based on the achievement of revenue targets in the year after closing.

The transaction is expected to close before the end of calendar year 2025, subject to regulatory approval and other conditions.

Headquartered in Hauppauge, New York, MARS is a leading North American distributor of HVAC/R parts, supplies and equipment. MARS Parts specializes in motors, capacitors, and other components and supplies used for HVAC/R repairs and replacements.

The sale does not include the MARS equipment distribution division, which will remain a standalone business in Platinum Equity’s portfolio and continue to operate under the name Heat Controller. Heat Controller offers residential and commercial heating, cooling, and dehumidification equipment under the Comfort-Aire and Century brands.

“Over the past year and a half, we’ve partnered with the MARS team to transform the business and create significant value. This transaction allows us to realize part of that value while finding a natural home for the parts division at CSW where it can continue to thrive. ”

Jacob Kotzubei, Co-President, Platinum Equity

Since investing in MARS in July 2024, Platinum Equity has led a comprehensive transformation of the company, including:

Completing the strategic acquisition of Global, the Source, bringing US-based in-house manufacturing capabilities to MARS and enhancing the combined company’s financial profile
Expanding into new product categories such as pads, pans, equipment hangers, float switches, chemicals, and other accessories
Driving significant cost savings across procurement, freight, and damage reduction
Recruiting a world-class management team from a leading HVAC OEM, led by Philip Windham as CEO

Windham will continue as CEO of Heat Controller following the sale of MARS Parts. He expressed optimism about the future of both divisions.

“We’re proud of the progress we’ve made and grateful to the talented team in our parts division,” said Windham. “We’ll be cheering for their continued success as part of the CSW family. At the same time, we’re energized by the growth ahead for Heat Controller and excited to build on the momentum we’ve created.”

MARS anticipates a smooth transition, as MARS Parts and Heat Controller have operated largely independently.

“Over the past year and a half, we’ve partnered with the MARS team to transform the business and create significant value,” said Platinum Equity Co-President Jacob Kotzubei. “This transaction allows us to realize part of that value while finding a natural home for the parts division at CSW where it can continue to thrive. We remain bullish on the HVAC sector long term and will continue putting our financial and operational resources to work.”

Platinum Equity said it will actively support Heat Controller’s ongoing expansion.

“We have an outstanding leadership team that is eager to scale and create additional value,” said Platinum Equity Managing Director Dan Krasner. “We will continue to diversify and expand Heat Controller’s product portfolio and extend the company’s reach to new customers, both organically and through strategic M&A.”

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $50 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 30 years Platinum Equity has completed more than 500 acquisitions.

Categories: News

Tags: Automotive

KKR Expands Strategic Partnership with ADNOC with Gas Pipelines Investment

admin October 1, 2025

KKR makes long-term investment in ADNOC Gas Pipeline Assets LLC, reflecting the firm’s confidence in ADNOC and in Abu Dhabi as a premier investment destination
Transaction builds on KKR and ADNOC’s 2019 landmark oil pipelines deal, which catalyzed additional foreign direct investment into Abu Dhabi and similar transactions in the region
KKR’s increased capital commitment in the Middle East reinforces its longstanding and expanding presence in the region and global leadership in critical infrastructure

Abu Dhabi, United Arab Emirates (UAE), 1 October, 2025 – KKR, a leading global investment firm, today announced that KKR has acquired a minority stake in ADNOC Gas Pipeline Assets LLC. The new investment further strengthens KKR’s long-term strategic partnership with the Abu Dhabi National Oil Company (ADNOC), and reflects the firm’s confidence in Abu Dhabi’s competitiveness as a premier global investment destination.

This transaction follows KKR and ADNOC’s landmark 2019 oil pipelines deal, a first for the region that continues to serve as a template for further transactions across the Middle East. The structures allow regional partners to access new pools of global institutional capital while maintaining operating control over the assets.

“We are pleased to expand our strategic partnership with ADNOC and to invest further in Abu Dhabi’s long-term prosperity and critical infrastructure,” commented General David Petraeus (US Army, Ret.), Partner, KKR, Chairman of the KKR Global Institute, and Chairman of KKR Middle East. “This investment reflects KKR’s commitment to expand partnerships and investment across the Middle East. The region’s strong fundamentals, bold vision, and focused leadership offer increasingly attractive opportunities for global investors.”

Cristina González, Managing Director, Infrastructure at KKR, added: “KKR has a long history of owning and operating critical national infrastructure worldwide, collaborating closely with governments. This strategic partnership leverages KKR’s expertise in infrastructure investments and ADNOC’s operational excellence to deliver practical energy solutions. This investment in ADNOC Gas Pipeline Assets provides access to high-quality, long-dated yield alongside an outstanding partner in ADNOC. ”

The gas pipeline network connects ADNOC’s upstream assets to local off-takers in the UAE. Pipeline ownership and operational management remain with ADNOC. KKR is acquiring a minority stake through its managed accounts, matching the type and tenure of the investment with long-duration capital.

The strategic partnership with ADNOC highlights KKR’s commitment to the broader Middle East, expanding on the firm’s 16-year local presence and its investments in key sectors that support regional growth. Earlier this year, KKR announced the appointment of General Petraeus as Chairman of the Middle East and the establishment of a dedicated regional investment team led by Julian Barratt-Due. Also in 2025, KKR invested in Dubai-based Gulf Data Hub, a leading independent data center platform, which is expected to help accelerate digital transformation and AI leadership in the region.

Since establishing its Global Infrastructure Strategy in 2008, KKR has been one of the most active infrastructure investors worldwide, managing over $90 billion in infrastructure assets with a team of more than 130 professionals across North America, Europe, the Middle East, and Asia Pacific.

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.

Media contacts
Annabel Arthur, KKR
+44 7554 919 491
Annabel.Arthur@kkr.com

Download PDF

Categories: News

Tags: Energy infrastructure

Smith Hill Capital and Bain Capital Announce $216 Million Refinancing for 774-Room Westin New York Grand Central

admin October 1, 2025

NEW YORK – October 1, 2025 — Smith Hill Capital, the fully integrated commercial real estate debt investment management business of Procaccianti Companies, and Bain Capital today announced the firms’ joint venture completed a $216 million refinancing for the iconic Westin New York Grand Central Hotel.

Centrally located in the heart of Midtown Manhattan on East 42nd Street, one block from Grand Central Terminal, the hotel is within walking distance of top office tenants, tourist landmarks, and major transit access points. The 774-key Westin New York Grand Central features 18,750 square feet of flexible meeting and event space, a full-service restaurant — Amuse Marketplace & Bar — as well as a fitness center and valet parking. The property was acquired by its current ownership in 2019 and underwent extensive renovations in 2021.

“The Westin Grand Central is a flagship property in one of the world’s most dynamic lodging markets. Its proximity to Grand Central Terminal and Midtown’s largest employers makes it a cornerstone asset for both business and leisure travel,” said Brendan McCormick, Managing Principal, Smith Hill Capital. “Together with Bain Capital, we continue to pursue opportunities in premier urban markets as well as high-quality destination markets where we see consistent demand and long-term value creation potential.”

“This transaction further demonstrates our ability to provide flexible and creative capital solutions for high-quality assets and borrowers,” said David DesPrez, a Partner at Bain Capital Special Situations. “We are pleased to be selected as the partner of choice on this transaction and look forward to supporting the continued growth of this exceptional asset.”

“We’re proud to have facilitated this successful refinancing, marking another milestone in our long-standing relationship with this exceptional asset,” said Kevin Davis, Americas CEO of JLL’s Hotels & Hospitality Group. “This transaction not only provides our client with enhanced financial flexibility but also demonstrates the continued investor confidence in premier Manhattan hospitality assets.

Smith Hill and Bain Capital’s joint venture focuses on serving the financing needs of hospitality companies and assets in demand-driven markets across the U.S. The partnership combines decades of industry and capital markets experience with a highly attractive market opportunity.

JLL’s Hotels & Hospitality Group represented the sponsors in the transaction.

###

About Smith Hill Capital
Smith Hill Capital (“Smith Hill” or “SHC”) is the fully integrated commercial real estate debt investment management business of the Procaccianti Companies (est. 1958). Smith Hill Capital was formed to invest in compelling commercial real estate debt opportunities that exist due to liquidity challenges and dislocation in commercial real estate financial markets. Smith Hill Capital is led by seasoned investment professionals who have multi-cycle investment experience and the tenured skill set to identify opportunities throughout the entire commercial real estate capital structure, spanning from securities to equity ownership. For more information, please visit www.smithhillcapital.com.

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

Categories: News

Tags: Real estate

Apollo Names Jaycee Pribulsky as Partner and Chief Sustainability Officer

admin October 1, 2025

Pribulsky succeeds Dave Stangis, who will transition to a senior advisor role in 2026

NEW YORK, Oct. 01, 2025 (GLOBE NEWSWIRE) — Apollo Global Management, Inc. (NYSE: APO) today announced that Jaycee Pribulsky has been named Partner and Chief Sustainability Officer (CSO), effective October 1. Pribulsky will lead Apollo’s established sustainability strategy, which aims to strengthen long-term value creation and enhance risk management across the firm’s integrated investment platform.

Stangis, who has served as Apollo’s inaugural CSO since 2021 and helped to design Apollo’s Sustainability organization as a robust and long-term management system, will work with Jaycee to support a seamless leadership succession plan. As part of his plans to retire, Stangis will transition into a senior advisor role beginning in 2026. Prior to building out Apollo’s sustainability strategy and capabilities, Stangis was the first CSO at The Campbell’s Company and served as the first Global Director of Corporate Responsibility at Intel Corporation.

Pribulsky brings more than 20 years of experience spanning sustainability, operations and innovation. Most recently, she was Chief Sustainability Officer at Nike, where she led the Nike, Inc. sustainability strategy across product, operations and the supply chain. She also oversaw sustainability governance and reputation management.

Prior to her CSO role, she led Nike’s global footwear sourcing and manufacturing teams. Earlier in her career, she held leadership roles at Bloomberg and Citigroup, focusing on corporate social responsibility, strategy and stakeholder engagement. Jaycee holds an MBA from Columbia Business School and a BA in French and Communications from American University.

“We thank Dave for his significant contributions to developing Apollo’s industry leading sustainability program and look forward to his continued partnership in an advisory capacity. Jaycee’s cross-sector experience and track record of building durable, business-aligned sustainability programs will continue to advance Apollo’s differentiated approach and competitive leadership,” said Scott Kleinman, Co-President of Apollo Asset Management.

Jaycee Pribulsky added, “Apollo is known for its scale, capabilities and focus on delivering performance and resilience for clients and portfolio companies. I am excited to build on that foundation working closely with colleagues and partners, using Apollo’s sustainability strategy as a practical tool for long-term value creation.”

Apollo’s sustainability strategy focuses on identifying material risks and opportunities across asset classes, while supporting performance, efficiency and innovation. This approach is fully integrated into Apollo’s investment and operating model, reflecting the firm’s emphasis on durability and value over time.

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 June 30, 2025, Apollo had approximately $840 billion of assets under management. To learn more, please visit www.apollo.com.

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

Categories: People

GreenShift secures €2.35M in round by 4impact capital, The Footprint Firm and Rockstart

admin September 30, 2025

GreenShift, an Amsterdam-based AI powered technology company revolutionizing sustainable cloud computing, has raised €2.35 million in a Convertible Loan Agreement (CLA) round. The investment was led by 4impact capital and The Footprint Firm with continued support from Rockstart.

The fresh capital will enable team growth and support GreenShift’s efforts to deepen enterprise partnerships, advancing its mission to become the operating system for sustainable cloud computing.

Tackling the urgent challenge of cloud emissions

The global cloud market is valued at over €900 billion and growing at a 21% CAGR. With cloud computing already generating more CO₂ emissions than the aviation industry, data centers are projected to account for up to 2.5 billion tons of CO₂ by 2030, nearly 40% of U.S. annual emissions. Today, cloud computing is estimated to account for roughly 2.5–3.7% of global greenhouse gas emissions. A significant share of this footprint is amplified by inefficiencies, such as idle provisioning, complex application deployment architectures that prevent easy cost and emissions attribution, and under-optimised application logic that reduce overall energy use effectiveness. This represents both a massive sustainability challenge and a strategic opportunity: without intervention, cloud and AI workloads will continue to drive unsustainable energy demand.

GreenShift’s solution: Full-stack visibility, real-time optimisation and carbon aware automation

Unlike existing solutions, many of which focus on infrastructure-level optimisation, GreenShift operates at the application layer, where most inefficiencies originate. GreenShift’s AI-powered platform reduces cloud application energy usage by up to 40%. By unifying cost, performance, and carbon into a single optimization engine, it enables organizations to lower emissions and significantly cut cloud costs while driving performance. Unlike traditional optimization initiatives that force a trade-off between cost and performance, GreenShift removes that compromise as well. The result is a step-change in cloud sustainability: lower costs, higher performance, and significantly reduced environmental impact.

Strategic investors supporting GreenShift’s growth

Omar Regoort and Leonid Borodaev, Co-CEOs of GreenShift, stated:

“Our vision is to lead the global shift to sustainable cloud computing. By building the operating system for sustainable cloud, we ensure digital growth is efficient, high-performing, and green by default. With 4impact, The Footprint Firm, and Rockstart as partners, we’re in a strong position to accelerate adoption and scale our impact globally.”

Ali Najafbagy, Founding Partner at 4impact capital, said:

“The rapid increase in cloud computing leads to vast inefficiencies, high energy consumption and high emissions. GreenShift tackles this head-on with a scalable, software-first solution that reduces energy use while enhancing performance. Omar, Leonid, and their team are uniquely positioned to build the global category leader in sustainable cloud computing, and we are proud to lead this round.”

Sofie Käll, CIO at The Footprint Firm, commented:

“We are excited to back GreenShift in addressing the critical and growing issue of costly, and emissions-heavy computing. Their solution delivers a powerful alignment of operational, economic and environmental value for Enterprises – exactly what’s needed to make sustainable technology truly scale. We’re betting on a future where AI serves, rather than strains, the planet, and we truly believe Omar and Leonid of Greenshift are the ones to help realize that vision”

Gem Kua, Investment Manager at Rockstart, added:

“Backing Omar and Leonid in GreenShift’s stealth phase was about more than investing in technology – it was about backing founders who could tackle the AI era’s compute and emissions challenge. Their early deployments have already demonstrated strong results across sustainability, cost, and performance metrics, and we’re proud to back them again as they are on track to lead the sustainable cloud computing category.”

The GreenShift investment benefits from support from the European Union under the InvestEU Fund.

Categories: News

Tags: artificial intelligence (AI) Cloud Venture Capital