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3i invests c.€145m in leading wet wipe brand WaterWipes

3I

3i Group plc (“3i”) today announces it has agreed to invest c.€145m in WaterWipes UC, a leading premium wet wipe brand.  WaterWipes®’ products are 99.9% water and made from only two natural ingredients. The purity makes its products highly differentiated and proven effective to help prevent and reduce negative skin reactions. The company is globally accredited by skin health and allergy institutions and endorsed by healthcare professionals.

As part of the transaction, WaterWipes®’ Founder, Edward McCloskey, is retaining a significant minority position, with the leadership team led by Paul Heeringa, CEO, re-investing and partnering with 3i.

Headquartered in Drogheda, Ireland, WaterWipes UC is geographically diversified with sales in over 50 countries and double-digit growth in both offline and online channels. The company provides an essential everyday product with over 90% of its customers using wet wipes at least once per day. WaterWipes®’ superior product quality has led to market-leading levels of customer loyalty and advocacy, with the company generating consistent growth for over a decade and a CAGR of over 20% since 2017.

WaterWipes® is the clear premium-segment leader in the c.€12 billion personal care wet wipes market, which is forecast to grow strongly driven by increased hygiene awareness following COVID and demand for convenience. With plant-based plastic-free wipes and natural ingredients, WaterWipes® is also an industry leader in sustainability.

3i is investing to further accelerate WaterWipes®’ growth. 3i will support the company’s expansion in Europe, Latin America and Asia, driving growth in its core Baby and Children’s range as well as capturing further opportunities in additional categories such as Adult and Convenience.

Edward McCloskey, Founder and Executive Chairman, WaterWipes, said: “I’m delighted to be partnering with the team at 3i. They bring deep experience across our value chain, from manufacturing personal care products and scaling premium brands to working closely with leading international offline and online retailers. A big acknowledgement to my 390 WaterWipes colleagues, many of whom have been on this great adventure with me for years, daring to believe that a small startup could successfully challenge the global FMCG giants. Together with 3i we will capture the significant growth opportunities and execute the next phase of our strategy.”

Rupert Howard, Partner, 3i, said: “We’ve been following WaterWipes’ progress for many years. The company’s positioning fits perfectly with our strategy of investing in international branded consumer businesses, building on our recent experience with MPM and Havea. We are excited to partner with Edward and the team to support WaterWipes on its next growth phase, as it builds on its impressive foundations and continues to expand both its geographic and category reach.”

 

-Ends-

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For further information, contact:

WaterWipes UC

Paul Bradley

FleishmanHillard

Eilish Joyce

FleishmanHillard

  

Tel: +353 85 174 4281

Email: paul.bradley@fleishmaneurope.com

Tel: +353 87 791 4641

Email: eilish.joyce@fleishmaneurope.com

 

3i Group plc

Elmley de la Cour

Media enquiries

Silvia Santoro

Shareholder enquiries

  

Tel: +44 20 7975 3023

Email: elmley.delacour@3i.com

Tel: +44 20 7975 3258

Email: silvia.santoro@3i.com

Categories: News

CompuGroup Medical enters into an investment agreement with CVC Capital Partners

CVC Capital Partners

CVC announces intention to launch a voluntary public tender offer to all free float shareholders

  • CVC to launch voluntary public tender offer for EUR 22.00, subsequent delisting envisaged
  • Significant premium of 51.1% to the 3M VWAP and 33.5% to closing price as of December 6, 2024 provides shareholders with opportunity to realize value immediately
  • Founding family Gotthardt and related shareholder Koop sign strategic partnership agreement with CVC and will retain majority stake
  • The road to CompuGroup Medical’s long-standing goal of improving healthcare worldwide through digitalization is being strengthened.
  • This partnership brings CGM customers further increased quality, highest safety and even stronger focus on innovation
  • CompuGroup Medical employees will remain part of a company that is even more ambitious, with a determined will to grow and a high level of innovation
  • Managing Directors, Supervisory Board and Administrative Board welcome strategic partnership with CVC and voluntary public tender offer

Koblenz – CompuGroup Medical SE & Co. KGaA, one of the world’s leading e-health providers, has been improving healthcare by digitizing medical care for more than 30 years. CompuGroup Medical’s software supports medical and organizational processes in doctors’ and dentist’s offices, pharmacies, laboratories, hospitals and social institutions daily. This provides medical professionals with more time for their patients and helpful medical information for the benefit of everyone in the healthcare system.

Today, CompuGroup Medical announced a strategic partnership agreement with CVC Capital Partners, one of the world’s leading private equity firms, and GT1 Vermögensverwaltung GmbH, CompuGroup Medical’s majority shareholder. The partnership with CVC will become effective if a holding company controlled by investment funds advised and managed by affiliates of CVC Capital Partners successfully completes a voluntary public tender offer for all outstanding shares of CompuGroup Medical at a price of EUR 22.00 per share in cash. The offer corresponds to a premium of 51.1% to the volume-weighted average price over the past three months.

The founding family Gotthardt and related shareholder Dr. Reinhard Koop, who together hold 50.1% of all shares, will retain their majority stake in CompuGroup Medical. CompuGroup Medical founder Frank Gotthardt will remain Chairman of the Administrative Board, while Prof. (apl.) Dr. med. Daniel Gotthardt continues as Chief Executive Officer and member of the Administrative Board.

The partnership with CVC is expected to support the long-term innovation and growth strategy of CompuGroup Medical. Together, CompuGroup Medical and CVC plan to drive innovation in healthcare for the benefit of patients and healthcare providers worldwide. The joint goal is to reliably empower medical professionals with next generation products and strong customer support.

Prof. (apl.) Dr. med. Daniel Gotthardt, CEO of CompuGroup Medical said: “At CompuGroup Medical, our highest priority is to provide customers – medical doctors, dentists, healthcare practitioners, hospitals and pharmacies and other healthcare providers – with the best possible solutions to advance healthcare. Based on innovative, data-based and AI-empowered solutions, we have the unique opportunity to add a new dimension to healthcare in the years to come. CVC’s extensive expertise in investments in the healthcare industry and software business will support us to deliver our strategy as planned. Our envisaged partnership will catalyze the next phase of innovation and expansion, for the benefit of our customers, and ultimately patients.”

Daniela Hommel, CFO of CompuGroup Medical, commented: “The Managing Directors welcome the envisaged strategic partnership with CVC due to their international network and deep industry expertise in the software and healthcare sectors. Partnering with CVC will allow us to take advantage of greater growth opportunities, such as investments in inorganic growth and increasing our focus on cloud-based products and AI-powered solutions. It will be particularly advantageous, when speed is of essence regarding financing. For our shareholders, the offer represents the opportunity to realize their investment at a premium of 51.1 % to the volume-weighted average price over the past three months.”

Frank Gotthardt, company founder and Chairman of the Administrative Board added: “The purpose of CompuGroup Medical remains unchanged: Nobody should suffer or die because at some point medical information was missing. Over decades, our customers and employees have appreciated the stability provided by a strong anchor shareholder. CompuGroup Medical will remain family-owned going forward. And I am convinced we have found the perfect partner to build on that strength to write the next successful chapter in our company history.”

Daniel Pindur, Managing Partner at CVC, said: “CompuGroup Medical has written an unparalleled success story over the past 30 years. There are only a handful of those founder-led stories in Germany. It has become a real European champion in digitization. We look forward to collaborating closely with the Gotthardt family and the team, leveraging CVC’s experience in strategic partnerships with founder-led family businesses. Together, we want to write the next chapter of healthcare.”

Can Toygar, Senior Managing Director at CVC, added: “In light of demographic changes and professional labor shortages, the healthcare market will need more digital solutions. CGM is an outstanding company, and uniquely positioned to transform healthcare in Europe, making it better and more efficient. Together, we will focus on investments in modern, data-based products and improving service quality for medical doctors, pharmacists and nursing staff.”

Offer Details

CVC intends to launch a voluntary public tender offer to all CompuGroup Medical free float shareholders for EUR 22.00 per share in cash. The offer corresponds to a premium of 51.1% to the volume-weighted average price over the past three months and will be subject to a minimum acceptance threshold of 17% and customary regulatory conditions, including antitrust clearance. Upon completion of the offer, and combined with founding family Gotthardt and related shareholder Dr. Koop, the strategic partners will hold at least 67% of all shares. The parties have agreed not to enter into a domination and/or profit and loss transfer agreement for a period of two years following the closing of the offer.

The Managing Directors, Supervisory Board and Administrative Board of CompuGroup Medical welcome the strategic partnership with CVC. CompuGroup Medical Management SE and the Supervisory Board intend to recommend the acceptance of the offer, subject to their review of the offer document. They will provide a reasoned statement pursuant to § 27 WpÜG after publication of the offer document by CVC. After completion of the tender offer, the management of CompuGroup Medical and CVC have agreed to take the company private by way of a delisting offer, which is intended in due course after closing of the tender offer.

The acceptance period is expected to begin by the end of December 2024. Closing of the transaction is expected in the first half of 2025. In accordance with the requirements of the German Securities Acquisition and Takeover Act, the offer document and other information in connection with CVC’s public tender offer will be made available on the following website after approval by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht): www.practice-public-offer.com

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Biosynth Names Matt Gunnison as CEO, Kieran Murphy Appointed as Chairman

Ampersand

Biosynth Names Matt Gunnison as CEO, Kieran Murphy Appointed as Chairman

Staad, Switzerland, November 6th 2024 – Biosynth, a global supplier of critical raw materials and services to the life sciences industry, today announced that its Board of Directors has appointed Matt Gunnison as the company’s new Chief Executive Officer and a member of the Board of Directors, effective immediately. The Board has also appointed Kieran Murphy as Chairman, effective as of the same date.

Matt Gunnison will succeed Urs Spitz, under whose guidance Biosynth has achieved remarkable growth and strengthened its position in the life sciences sector. Urs Spitz will remain a member of the Board of Directors.

“We are grateful to Urs for his significant contributions in shaping Biosynth into the innovative and thriving company it is today. We are now excited to welcome Matt as CEO, whose vision and extensive experience will be pivotal in leading the company through its next chapter.” said Kugan Sathiyanandarajah, Partner at KKR and Head of Europe for KKR’s Health Care Strategic Growth strategy.

“I am thrilled to join Biosynth at such an exciting time in its journey. The company has built a strong foundation under Urs’s leadership, and I look forward to working with the talented team to further accelerate our growth and innovation. Together, we will continue to deliver critical raw materials and services that drive advancements in the life sciences and make a real impact on global health outcomes.” said Matt Gunnison.

“It’s a privilege to be appointed Chairman of Biosynth. I am excited to work alongside Matt and the entire team as we chart the course for the company’s continued growth. Biosynth is at the forefront of innovation in the life sciences industry, and I am confident we have the right leadership and vision to drive our success forward.” said Kieran Murphy.

“I’m immensely proud of what Biosynth has accomplished. I would like to congratulate Matt and Kieren on their new roles and wish them, along the whole Biosynth team, great success in the years ahead. I look forward to continuing to support them in my role on the Board as they lead Biosynth into this new chapter,” said Urs Spitz.

Matt currently serves as CEO of Gamma Biosciences, a life sciences investment platform that he co-founded with leading global investment firm KKR. He brings nearly two decades of experience in the healthcare and life sciences industries. At Gamma, Matt oversaw the acquisition and management of a portfolio of growth stage businesses serving the biopharmaceutical manufacturing industry. Prior to Gamma, he served in various positions at GE Healthcare, most recently as head of corporate development for the $19B division of General Electric Co. Matt holds a B.A. in Economics from Georgetown University and a J.D. from the University of Michigan.

Kieran currently serves as a senior advisor to KKR and will transition to Biosynth from Gamma Biosciences, where he has served as Chairman since 2022. He brings decades of corporate leadership and board experience in healthcare and life sciences, including as former President and CEO of GE Healthcare and Whatman plc.

Joining Matt and Kieran as Head of Corporate Development for Biosynth is Eric Simpson, previously Vice President at Gamma Biosciences.

About Biosynth

Biosynth is a supplier of critical materials, securing life science supply chains with global research, manufacturing, and distribution facilities. Supplying the pharmaceutical and diagnostic sectors; where Chemistry meets Biology, Products meet Services and Innovation meets Quality, Biosynth is at the Edge of Innovation. With an unrivaled research product portfolio of over a million products and end-to-end manufacturing services, Biosynth’s expertise and capability runs across Complex Chemicals, Peptides, and Key Biologics, all from one trusted partner. Headquartered in Staad, Switzerland, Biosynth is owned amongst others by KKR, Ampersand Capital Partners and management. Find out more about Biosynth at Biosynth.com.

About KRR

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 Globalatlantic.com.

About Ampersand

Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with $3 billion of assets under management, dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA, and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit Ampersandcapital.com or follow Ampersand on LinkedIn.

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KKR-led consortium announces delisting offer for Encavis AG at EUR 17.50 per Encavis share

KKR

6 December, 2024 – Today, Elbe BidCo AG (“BidCo”), a holding company controlled by investment funds, vehicles and accounts advised and managed by Kohlberg Kravis Roberts & Co. L.P. and its affiliates (collectively, “KKR”) has announced its intention to make a public delisting offer (“Delisting Offer“) for all outstanding shares (ISIN: DE0006095003) of Encavis AG (“Encavis“), a leading and proven German renewable energy platform and independent power producer.

Shareholders will receive EUR 17.50 per Encavis share in cash, corresponding to the offer price of the preceding voluntary public tender offer that was completed on 4 December 2024. With the settlement of the preceding voluntary public takeover offer, KKR, Viessmann Generations Group GmbH & Co. KG and ABACON CAPITAL formed a consortium and now hold 87.73% of the shares in Encavis through BidCo.

In addition, BidCo and Encavis today entered into an agreement, pursuant to which Encavis has undertaken to apply for the revocation of the admission to trading of the Encavis shares (ISIN: DE0006095003) on the regulated market (Prime Standard) of the Frankfurt Stock Exchange as well as on the regulated market (Prime Standard) of the Hamburg Stock Exchange (so-called delisting) prior to the expiration of the acceptance period of the Delisting Offer. The Management Board and the Supervisory Board of Encavis are fully supportive of the delisting and intend to recommend that all shareholders accept the offer.

The Delisting Offer will be made pursuant to an offer document to be approved by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin). This offer document will be published following receipt of permission from BaFin, at which point the acceptance period of the Delisting Offer will commence. The offer document (in German and a non-binding English translation) and other information pertaining to the Delisting Offer will be published on the following website: https://www.elbe-offer.com. The acceptance period is expected to be approximately 6 weeks starting from publication of the offer document as further set out in the offer document. There will be no additional acceptance period. The Delisting Offer will not be subject to any closing conditions.

PJT Partners is acting as financial advisor and Hengeler Mueller is acting as legal advisors on the Delisting Offer.

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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 Encavis

The Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group’s total generation capacity currently adds up to around 3.6 gigawatts (GW), of which around 2.2 GW belong to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO2 per year stand-alone for the Encavis AG. In addition, the Group currently has more than 1.1 GW of capacity under construction, of which around 800 MW are own assets.

Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialised provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.

ENCAVIS is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG’s environmental, social and governance performance has been awarded by two of the world’s leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their “AA” level and ISS ESG with their “Prime” label (A-), the Carbon Disclosure Project (CDP) with its Climate Score “B” and Sustainalytics with its “low risk” ESG risk rating.

Additional information can be found at www.encavis.com.

 

Media Contacts

KKR

Thea Bichmann

Mobile: +49 (0) 172 13 99 761

Email: kkr_germany@fgsglobal.com

 Fabian Prietzel

Mobile: + 49 (0) 171 86 01 411

Email: kkr_germany@fgsglobal.com

Encavis

Dr. Oliver Prüfer

Mobile: +49 151 5834 0863

Email: oliver.pruefer@encavis.com

  

 

 

Disclaimer and forward-looking statements

This press release is neither an offer to purchase nor a solicitation of an offer to sell Encavis Shares. The final terms of the Delisting Offer as well as other provisions relating to the Delisting Offer will be communicated in the offer document after the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) has permitted the publication of the offer document. Investors and holders of Encavis Shares are strongly advised to read the offer document and all other documents relating to the Delisting Offer as soon as they have been made public, as they will contain important information. The offer document for the Delisting Offer (in German and a non-binding English translation) with the detailed terms and conditions and other information on the Delisting Offer will be published after approval by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) amongst other information on the internet at www.elbe-offer.com.

The Delisting Offer will be implemented exclusively on the basis of the applicable provisions of German law, in particular the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz – WpÜG), the German Stock Exchange Act (Börsengesetz – BörsG) and certain securities law provisions of the United States of America relating to cross-border takeover offers. The Delisting Offer will not be conducted in accordance with the legal requirements of jurisdictions other than the Federal Republic of Germany or the United States of America (as applicable). Accordingly, no notices, filings, approvals or authorizations for the Delisting Offer have been filed, caused to be filed or granted outside the Federal Republic of Germany or the United States of America (as applicable). Investors and holders of Encavis Shares cannot rely on being protected by the investor protection laws of any jurisdiction other than the Federal Republic of Germany or the United States of America (as applicable). Subject to the exceptions described in the offer document and, where applicable, any exemptions to be granted by the respective regulatory authorities, no Delisting Offer will be made, directly or indirectly, in those jurisdictions in which this would constitute a violation of applicable law. This press release may not be released or otherwise distributed in whole or in part, in any jurisdiction in which the Delisting Offer would be prohibited by applicable law.

The Bidder reserves the right, to the extent permitted by law, to directly or indirectly acquire additional Encavis Shares outside the Delisting Offer on or off the stock exchange, provided that such acquisitions or arrangements to acquire are not made in the United States, will comply with the applicable German statutory provisions, in particular the WpÜG, and the Offer Price is increased in accordance with the WpÜG, to match any consideration paid outside of the Offer if higher than the Offer Price. If such acquisitions take place, information on such acquisitions, including the number of Encavis Shares acquired or to be acquired and the consideration paid or agreed, will be published without undue delay if and to the extent required under the laws of the Federal Republic of Germany, the United States or any other relevant jurisdiction. The Delisting Offer will relate to shares in a German company admitted to trading on the Frankfurt Stock Exchange and Hamburg Stock Exchange and will be subject to the disclosure requirements, rules and practices applicable to companies listed in the Federal Republic of Germany, which differ from those of the United States and other jurisdictions in certain material respects. The financial information relating to the Bidder and Encavis included elsewhere, including in the offer document, will be prepared in accordance with provisions applicable in the Federal Republic of Germany and will not be prepared in accordance with generally accepted accounting principles in the United States; therefore, it may not be comparable to financial information relating to United States companies or companies from other jurisdictions outside the Federal Republic of Germany. The Delisting Offer will be made in the United States pursuant to Section 14(e) of, and Regulation 14E under, the Exchange Act, and on the basis of the so-called Tier II exemption from certain requirements of the Exchange Act, which exemption allows a bidder to comply with certain substantive and procedural rules of the Exchange Act for takeover bids by complying with the law or practice of the domestic legal system and exempts the bidder from complying with certain other rules of the Exchange Act, and otherwise in accordance with the requirements of the laws of the Federal Republic of Germany. Shareholders from the United States should note that Encavis is not listed on a United States securities exchange, is not subject to the periodic requirements of the Exchange Act and is not required to, and does not, file any reports with the United States Securities and Exchange Commission.

Any contract entered into with the Bidder as a result of the acceptance of the planned Delisting Offer will be governed exclusively by and construed in accordance with the laws of the Federal Republic of Germany. It may be difficult for shareholders from the United States (or from elsewhere outside of Germany) to enforce certain rights and claims arising in connection with the Delisting Offer under United States federal securities laws (or other laws they are acquainted with) since the Bidder and Encavis are located outside the United States (or the jurisdiction where the shareholder resides), and their respective officers and directors reside outside the United States (or the jurisdiction where the shareholder resides). It may not be possible to sue a non-United States company or its officers or directors in a non-United States court for violations of United States securities laws. It also may not be possible to compel a non-United States company or its subsidiaries to submit themselves to a United States court’s judgment.

 

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EQT Life Sciences leads Series A funding round for maternal health company Nua Surgical

EQT Life Science

Irish maternal health company Nua Surgical secures €6.5M in Series A funding led by EQT Life Sciences

SteriCISION is the first self-retaining retractor designed specifically for Caesarean section (C-section) surgeries

Proceeds will be used for regulatory approval and commercialization of the SteriCISION C-section retractor

EQT Life Sciences is pleased to announce that the EQT Health Economics strategy has invested in Nua Surgical, an Irish medical device company innovating in maternal health. The €6.5 million Series A financing was led by EQT Life Sciences. The round was also supported by new investors Kidron Capital and the Texas Medical Center (TMC) Venture Fund and existing investors including Enterprise Ireland and business veterans from Ireland and the US. The proceeds will be used to drive the regulatory clearance and early commercialization of the company product, the SteriCISION C-Section Retractor. This innovative device is specifically designed to address the unique challenges of Caesarean-section (C-section) surgery.

C-sections are the most common major surgical procedure globally, with over 30 million performed each year. The SteriCISION C-Section Retractor is the only self-retaining surgical retractor specifically designed for the unique dynamics of C-section surgery. This ergonomically designed and patented device provides fast, adjustable, and safe retraction, enabling clinicians to deliver the baby, repair tissue, and, crucially, identify bleeds. As a single-use sterile device, it aims to reduce the risk factors that lead to surgical complications, benefiting the patient, the clinician, and the healthcare system. The new investment will support Nua Surgical’s next phase of development and the early commercialization of SteriCISION. This includes expanding the team, establishing manufacturing in Ireland, and meeting the regulatory requirements necessary to gain FDA clearance.

Barry McCann, CEO of Nua Surgical, commented, “Securing this Series A financing is a crucial milestone for Nua Surgical. It not only provides the capital needed to advance our product but also brings on board a group of experienced investors who share our vision for transforming maternal health. We are eager to leverage their expertise as we move towards commercializing SteriCISION.”

“Nua Surgical’s SteriCISION C-Section Retractor has the potential to significantly enhance outcomes for mothers undergoing C-section procedures,” said Anne Portwich, Partner at EQT. “We are excited to support the company’s journey towards market entry. This innovative device has the potential to improve the quality of care and reduce healthcare costs, making it a perfect fit for our EQT Health Economics strategy.”

With the closure of this round, Anne Portwich, Partner at EQT, and Anula Jayasuriya, Co-Founder of Kidron Capital, will join the Nua Surgical Board of Directors, while Gabrielle Guttman of TMC Venture Fund and Prashanthi Ramesh of EQT will serve as Board Observers.

Contact
EQT Press Office, press@eqtpartners.com

About

About EQT Life Sciences
EQT Life Sciences was formed in 2022 following the integration of LSP, a leading European life sciences venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs entrepreneurs who have ideas that could truly make a difference for patients. The team combines deep sector knowledge, analytical skills, and investment experience to provide the added value that entrepreneurs seek. For more information, go to eqtgroup.com/private-capital/life-sciences/

About Nua Surgical
Nua Surgical is a Galway-based medical company founded in 2019 by Barry McCann, Marie-Therese Maher and Padraig Maher. Since spinning out of the renowned BioInnovate Ireland programme at the University of Galway, Nua Surgical have become an Enterprise Ireland HPSU company and have received global accolades for their maternal health innovation. The company has developed the SteriCISION C-section Retractor, ergonomically designed to improve access and visualization to the uterus, reduce the risk of wound trauma and facilitate a safer surgery. The experienced founding team is bolstered with expert consultants and the recent appointment of Dr. Elizabeth Garner, global women’s health thought leader, as their board chair. For more information visit www.nuasurgical.com

 

 

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Hector Fernandez to Lead Diversified Gaming Solutions Provider as CEO Following Combination of IGT’s Gaming and Digital Business with Everi

Apollo logo

Proven Operator Positioned to Accelerate Growth and Product Innovation of Combined Enterprise Will Join by the Fourth Quarter of 2025

Nick Khin to Serve as Interim CEO of Combined Enterprise Following Closing

Combined Enterprise to be Organized Into 3 Business Units:
Gaming (led by Nick Khin), Digital (led by Gil Rotem) and FinTech (led by Darren Simmons)

NEW YORK, Dec. 05, 2024 (GLOBE NEWSWIRE) — The holding company formed to acquire International Game Technology PLC’s (NYSE: IGT) (“IGT”) Gaming & Digital Business (“IGT Gaming”) and Everi Holdings Inc. (NYSE: EVRI) (“Everi”) in connection with the previously announced acquisitions by funds managed by affiliates of Apollo Global Management, Inc. (the “Apollo Funds”) today announced that Hector Fernandez will lead the combined enterprise as CEO.

Mr. Fernandez brings a clear track record of success across technology and gaming as well as deep strategic and financial expertise. His diverse experience both inside and outside of the gaming industry is expected to position him well to integrate and lead two highly complementary gaming platforms following the transaction close with a focus on growth, product innovation and content generation. Mr. Fernandez most recently served as CEO of Aristocrat Gaming, Aristocrat Leisure Limited’s global land-based gaming content and technology business. During his tenure, he devised and led a number of strategic initiatives that enabled gains in market share across multiple verticals while delivering strong revenue growth and increased profitability.

Daniel Cohen, Partner at Apollo, stated, “We’re thrilled to name Hector Fernandez as the future CEO of the combined enterprise. As we look to position IGT Gaming and Everi as a premier, diversified customer-centric platform at the forefront of innovation in the gaming and fintech industries, Hector brings an impressive track record of successfully scaling operations and strengthening customer relationships while being a champion for strong values. Hector shares our vision to lead this talented global workforce and will foster a people-first culture across the combined enterprise.”

Mr. Fernandez said, “I couldn’t be more excited to be part of this journey with IGT Gaming and Everi. I look forward to partnering with the very talented teams at both companies, as well as the Apollo team leading the transaction.”

Mr. Fernandez will join the combined enterprise by the fourth quarter of 2025 after expiration of a customary non-compete period. Following the transaction close, Nick Khin, President, Global Gaming at IGT, will lead the combined enterprise as Interim CEO until Mr. Fernandez assumes the CEO role.

Following closing, the combined enterprise will be organized into three business units: Gaming, Digital, and FinTech. Upon Mr. Fernandez joining the combined enterprise, Mr. Khin will step into the newly formed role of CEO, Gaming, and will oversee the land-based gaming businesses of the combined enterprise. Gil Rotem, current President of IGT PlayDigital, will serve as CEO, Digital, and Darren Simmons, current Executive Vice President and FinTech Business Leader at Everi, will serve as CEO, FinTech. These appointments expand on the previously announced leadership for the combined enterprise.

Mr. Cohen added, “We’re excited for Nick to take on the additional responsibility of Interim CEO upon closing of the acquisitions and are confident he will succeed in his role of leading the land-based gaming businesses of the combined enterprise once Hector officially joins. Under Nick’s leadership, IGT has meaningfully improved its industry position and continues to release top performing games across channels. We believe his deep understanding of customers and players, as well as his leadership and passion, will help set the foundation for future success. We are also pleased to have leaders of Gil’s and Darren’s caliber from both companies ready to take on key leadership roles in the combined enterprise.”

Mr. Khin commented, “I believe in the tremendous potential of IGT Gaming and Everi as a combined enterprise, and I am honored to serve as Interim CEO once the transactions are completed. I look forward to working alongside Hector, Gil and Darren, and utilizing the opportunities we have in front of us to generate content-rich experiences and deliver unmatched value to our customers.”

Transaction Update

The previously announced acquisitions of IGT Gaming and Everi are still expected to be completed by the end of the third quarter of 2025, assuming the timely satisfaction of closing conditions, including certain gaming and regulatory approvals. On November 14, 2024, Everi stockholders approved the transaction. On November 20, 2024, at 11:59 p.m. ET, the waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976 expired. The separation of the IGT Gaming business remains on track and is expected to be complete in early 2025.

Integration planning for the combined enterprise is underway, led by a dedicated team comprising representatives of the Apollo Funds, Everi and IGT Gaming.

About Hector Fernandez

Hector Fernandez most recently served as CEO of Aristocrat Gaming, overseeing the end-to-end delivery of Aristocrat’s global land-based business in over 300 gaming jurisdictions. Prior to the role of CEO, Hector served as President of the Americas and EMEA from June 2019 to March 2022, where he oversaw the majority of the segment’s operations, as well as the Chief Financial Officer for the Americas for Aristocrat from November 2018 to June 2019. Prior to joining Aristocrat, Hector helped oversee Strategy, Pricing and Planning at Western Digital and other progressive finance, strategy and accounting roles. Mr. Fernandez received an MBA in finance and marketing from USC’s Marshall School of Business and a B.A. in economics/accounting and government from Claremont McKenna College.

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 to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2024, Apollo had approximately $733 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

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

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

Categories: People

Evolve and Purple partner to enhance Wi-Fi offering

BGF

BGF portfolio companies enter strategic partnership to empower new and existing customers with improved Wi-Fi offering. Hear from their CEOs.

5 December 2024

Evolve, the leading provider of Managed Network Solutions and IT services, has announced a strategic partnership with Purple, a leading provider of Wi-Fi and place-based analytics solutions.

Both Evolve and Purple are part of the BGF portfolio. Evolve announced its investment with BGF earlier this year and Purple has already experienced rapid growth under BGF’s guidance since October 2023.

The alignment in ambition and values between the two companies made Evolve a natural choice as part of Purple’s growth strategy, supporting increased efficiency and freeing up resources to focus on other areas of business development. As Purple expands into new sectors, including hospitality, it will leverage Evolve’s established experience to provide an industry-leading Guest Wi-Fi experience to new and existing customers.

“Purple has an impressive track record when it comes to enhancing visitor experiences, optimising efficiency and increasing cost-effectiveness. I am confident that this partnership, and the change in Wi-Fi provider, will only benefit our customers and their customers with a scalable and modern solution.”
Alan Stephenson-Brown
CEO of Evolve

The partnership also marks a strategic move for Evolve, as it shifts away from its existing in-house Guest Wi-Fi to use Purple Wi-Fi for its own services. This will offer Evolve’s customers increased functionality from personalised communications and promotions (thanks to Purple’s automation tool) to automatic customer surveys, with a 97% average response rate.

Alan Stephenson-Brown, CEO at Evolve, said: “Guest Wi-Fi is no longer a ‘nice to have’, but vitally important to businesses across the retail and hospitality sectors. Enabling customers to connect and use various digital services in-store or on-the-go, as well as being a valuable marketing tool for businesses that offers insights into customer behaviour, Evolve remains committed to providing our customers with industry-leading Guest Wi-Fi services.”

Initially started in 2012 out of frustration for poor guest Wi-Fi connection, Purple has evolved into the ultimate tool for businesses to turn their physical venues into intelligent spaces. Today, Purple helps physical venues thrive by enhancing visitor experiences, optimising staff efficiency, and driving additional revenue, with its hardware-agnostic indoor locations services. With a team of over 120 dedicated employees, Purple is focused on delivering a cutting-edge, industry-leading solution, and is expanding rapidly.

“We are delighted to be working with Evolve as they embark on the next chapter of their growth plan. Evolve has an established and respected role in the hospitality industry, among other sectors, and we are confident that our joint offering will provide real added value to those businesses.”
Gavin Wheeldon
CEO at Purple

Founded in 2005, with Guest Wi-Fi as its core offering, Evolve has since seen exponential growth with the incorporation of SD-WAN, internet connectivity, and a range of innovative IT support solutions. Today, Evolve is a fully managed B2B network provider operating in 12 countries, offering its customers reliable, secure and resilient solutions.

Since its inception, Evolve has built a strong reputation for helping businesses to reduce costs and simplify the management of services across a variety of sectors including retail, hospitality, food-to-go (FTG) and petroleum franchises. Evolve’s fully managed network solutions and Guest Wi-Fi services are essential for businesses to operate efficiently and deliver a seamless customer experience.

Gavin Wheeldon, CEO at Purple, added: “By working together with Evolve to provide an improved Guest Wi-Fi service, we are creating a unique and best-in-class solution for the market. The joint credibility of Purple and Evolve will ensure that we can help to scale businesses in a robust marketplace.”

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Abselion raises £6.6 million to bring disruptive technology to market

BGF

New investment highlights the potential impact of Abselion’s technology for life sciences research and bioprocess development.

5 December 2024
Abselion raises £6.6 million to bring disruptive technology to market

Abselion, an innovator in automated analytical instrumentation that simplifies at-line protein quantification, has secured £6.6 million in Series A financing, to bring its award-winning Amperia system to market.

The cutting-edge benchtop instrument allows scientists to easily quantify antibodies, AAVs and other proteins directly from crude samples, in as little as one minute. This provides critical data on the spot, enhancing efficiency and accuracy in life sciences research and bioprocessing.

The funding round was led by M Ventures (the strategic corporate venture capital arm of science and technology company Merck), and includes new investors BioProcess 360 Partners and Untitled Ventures. BGF also contributed to the funding round, alongside R42 and other existing investors.

“We are delighted to have the support of our investment partners to advance our mission to provide scientists with critical, real-time data at the point of need. The Amperia RED technology delivers the accuracy, speed and agility required for insights that enable confident decision making, driving bioprocess optimisation and innovation.”
Ruizhi Wang
CEO of Abselion

Abselion will use the funds to drive the commercialisation and expand the capabilities of its Amperia system. Built on proprietary Redox Electrochemical Detection (RED) technology, Amperia brings a ground-breaking approach to biologics and viral-vector quantification — for confident, convenient and cost-effective automated, at-line measurement that’s accessible to all laboratories and process environments.

“We’re proud to continue our support for Abselion, as it pioneers a new standard in bioprocess analytics. The team’s dedication and innovation in addressing a critical challenge for the biopharma industry is impressive, and we’re thrilled to play a part in their ongoing journey.”
Luke Rajah
Investor at BGF

Categories: News

Weave Living and KKR Establish Strategic Partnership to Invest in Multi-family Assets in Japan

KKR

TOKYO–(BUSINESS WIRE)– Weave Living, Asia-Pacific’s pre-eminent living sector specialist, and KKR, a leading global investment firm, today announced the establishment of a strategic partnership (“Weave Living Japan Residential Venture I”) in Japan. This collaborative effort is an active management-led multi-family residential program that aims to build a portfolio of over 3,000 residential units in Japan, investing in both newly built assets and existing assets with an initial focus on Tokyo and the potential of expanding to Osaka.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241126418557/en/

(Photo: Business Wire)(Photo: Business Wire)

This strategic partnership builds on KKR and Weave Living’s urban living collaboration in South Korea, announced in March of this year, and will leverage Weave Living’s vertically integrated management capabilities and digital-first approach to bring innovation, customer centricity and differentiation to Japan’s rental housing ecosystem.

The strategic partnership has been seeded with 11 brand-new residential properties in Tokyo, comprising 439 units that Weave Living acquired and stabilized over the last 12 months since it announced its debut acquisitions in Japan in 2023. These assets are operating at close to full occupancy with a mix of traditional and fixed-term leases.

David Cheong, Managing Director and Co-Head of Acquisitions on KKR’s Asia Real Estate team, said, “We are pleased to extend our relationship with Weave Living beyond our successful strategic partnership in Korea and into Japan, which is a key market for KKR’s real estate strategy in Asia Pacific and globally. We look forward to working even more closely with Sachin and his talented team to bring our collective expertise and their differentiated approach to the multi-family residential sector in Japan.”

Sachin Doshi, Founder and Group CEO of Weave Living, said: “We are excited to be working with KKR again following the success of our collaboration in South Korea. Having their endorsement for a second programmatic strategic partnership is a strong vote of confidence for what we have built at Weave Living, and the innovation we continue to bring to the rental housing sector in the region. We are thrilled to deepen our relationship with KKR and are aligned in our expectations for the development of the multi-family sector in Japan and throughout the Asia Pacific region. We welcome their support for our latest initiative and intend to grow this strategic partnership quickly.” He added, “Weave Living Japan Residential Venture I is the first in a series of Japan-focused vehicles that Weave Living intends to launch with our institutional capital partners as the country becomes our most prolific market by AUM in the coming years.”

KKR is making its investment from Asia Real Estate Partners. The transaction marks KKR’s latest real estate investment in the Asia Pacific region and Japan. This investment adds to KKR’s continued activity and momentum in Japan’s real estate sector across different real estate investment strategies, including KJR Management, a leading Japanese real estate manager that oversees two Japanese REITs; Hyatt Regency Tokyo, a full-serviced hotel in Shinjuku; the launch of a new midscale hospitality brand Four Points Flex by Sheraton in Japan alongside Marriott International; a portfolio of multifamily properties in Tokyo; and office assets across Japan.

About Weave Living

Founded in 2017 by Sachin Doshi as a response to a large gap in the market for beautifully designed and professionally managed living options, Weave Living currently owns and operates c. 3,000 rental accommodation units across the Asia Pacific region under its four consumer brands — WEAVE STUDIOS, WEAVE PLACE, WEAVE SUITES and WEAVE RESIDENCES — catering to a broad and diverse demographic of urbanites and professionals in key gateway cities. The company operates out of four offices in Hong Kong, Tokyo, Seoul and Singapore with over 160 professionals.

Website: https://www.weave-living.com/en/jp
Instagram: @liveatweave
Facebook: @liveatweave

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
For Weave Living:
David McMahon (English)
Email: davidhoward.mcmahon@kyodo-pr.co.jp
Tel: (+81) 080-8914-9376

Aya Asoshina (Japanese)
Email: a-asoshina@kyodo-pr.co.jp
Tel: (+81) 070-4303-7299

For KKR:
KKR Asia Pacific
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

FGS Global (for KKR Japan)
Samuel Brustad
+81 70 3853 3284
Samuel.Brustad@fgsglobal.com

Source: KKR

 

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EQT introduces the EQT Transition Infrastructure strategy with the acquisition of energy storage system developer and operator ju:niz Energy

eqt

EQT Transition Infrastructure will build on EQT’s experience in backing climate-related opportunities across strategies and more than 15 years of investing in energy transition-related infrastructure

The strategy will provide capital, as well as industrial, technological, and sustainability expertise to scale businesses and support the transition to a decarbonized and climate-resilient future

ju:niz Energy (or the “Company”), a battery energy storage system developer and operator, will be the strategy’s first highly thematic investment, to be acquired with capital from EQT’s balance sheet

Introducing the EQT Transition Infrastructure strategy
EQT Transition Infrastructure will seek to scale businesses that help enable the transition across industries to clean energy and a more resource-efficient, circular economy. Investing in North America, Europe, and Asia Pacific, the strategy will leverage EQT’s longstanding industrial experience in building businesses and deep sector expertise, and extensive experience across energy & environmental and transport & logistics investments. It will complement the Value-Add and Active Core strategies in EQT’s existing EUR 72 billion1 global infrastructure business. Since its inception over 15 years ago, EQT Infrastructure has invested over EUR 17 billion, including co-investment, in energy transition-related opportunities across 25 platform deals.

The strategy will be led by Jan Vesely, Head of EQT Transition Infrastructure in New York, and Asis Echaniz, Head of EQT Transition Infrastructure Europe in Madrid, and supported by the 130-strong EQT Infrastructure investment team. The strategy will be chaired by Francesco Starace, who joined EQT in 2023 from his position as CEO of Enel, one of the world’s largest energy utility companies and a leader in the sustainable energy transition.

Francesco Starace, Partner and Chair of EQT Transition Infrastructure, noted: “According to the International Energy Agency, technologies available today, combined with policy measures and investment, could deliver more than 80% of the emissions reductions needed by 2030. I’m excited that EQT will be able to expand its access to scaling companies with established transition-related solutions, an area that is additive to our existing infrastructure strategies. We also see this as a milestone to deepen EQT’s partnerships with our clients by offering a variety of complementary propositions addressing the huge investment need to transition to a low-carbon economy.”

Jan Vesely, Partner and Head of EQT Transition Infrastructure, commented: “The pace of technological innovation and a steady reduction in costs, coupled with digitalization and the evolution of AI, continue to drive the need for a transformation of our energy systems and the economy. Against this backdrop, EQT Transition Infrastructure will help emerging but proven solutions and businesses scale, to create the next generation of sustainable energy infrastructure.”

EQT invests in Infrastructure and Private Capital climate-related opportunities from early-stage ventures through scale-up to large buyouts. Through these investments, it aims to help strong companies address environmental challenges by driving their growth, improving their operations, and offering relevant solutions through their products and services. EQT has helped 49 portfolio companies, corresponding to 57% of its invested equity, to validate near-term Science Based Targets.2

ju:niz Energy becomes the first investment of the EQT Transition Infrastructure strategy
Headquartered in Aschheim, Germany, ju:niz Energy develops, builds, and operates utility-scale battery energy storage systems to the latest technical standards. EQT will acquire the Company from its founder, Dr. Franz Hauk.

Increasing reliance on renewable, intermittent energy sources, coupled with rising power demand from the electrification of industries and households, requires solutions to strengthen energy grid stability, including in Germany. As the largest European electricity market with rapidly expanding renewable generation capacity, the country offers significant potential for energy storage infrastructure. In this context, ju:niz Energy is well-positioned to deploy utility-scale battery energy storage systems which help support grid stability and advance decarbonization efforts.

EQT will help ju:niz Energy build on its track record and early-mover advantage to expand its business model and become an independent flexibility provider with increased asset ownership. It will support the business to build on its experience across the entire value chain to scale its development of battery energy storage projects and successfully execute on its sizeable pipeline at various levels of maturity.

Asis Echaniz, Partner and Head of EQT Transition Infrastructure Europe, added: “The introduction of this strategy reinforces EQT’s commitment to investing towards a climate-resilient future. ju:niz Energy is a perfect example of the type of business that EQT Transition Infrastructure will seek to invest in. We believe its innovative technology has strong underlying economics and the potential to help our energy infrastructure become significantly cleaner, more affordable and resilient. We look forward to partnering with the team during the Company’s next stage of growth.”

The transaction is subject to customary conditions and approvals. EQT was advised by UBS (financial), Gibson Dunn & Crutcher and Norton Rose Fulbright (legal) and McKinsey (commercial).

Contact
EQT Press Office, press@eqtpartners.com

1Total AuM as of Q3 2024
2As of Q3 2024

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 ju:niz Energy
ju:niz Energy develops and operates advanced large-scale battery storage systems designed to be both system- and grid-compatible while ensuring economic viability. The company’s value chain encompasses project development — from site acquisition to grid connection, project management — including planning, construction, and commissioning, as well as technical operations, maintenance, and commercial management, which involves coordinating market operations and optimizing system performance. ju:niz Energy’s strength lies in the seamless integration of planning and operations.

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