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Polaris Private Equity enters partnership with Salfarm and FaunaPharma

Polaris

We are excited to announce that Polaris has signed an agreement to acquire a majority stake in Salfarm, a Danish Animal Pharma player, with the aim of establishing a leading player in the Nordic Animal Health market. Shortly after the transaction, Salfarm has, in collaboration with Polaris, acquired the Finnish veterinary pharma player, FaunaPharma, strengthening Salfarm’s presence in Finland.

Salfarm was founded in 1979 and has grown to become a leading Danish player within animal pharmaceuticals with a presence throughout the Nordics delivering a +10% annual growth rate over a ten-year period. Headquartered in Kolding, Denmark, Salfarm owns subsidiaries in Sweden, Norway, and as of recently Finland, following the acquisition of FaunaPharma.

“We are very impressed by the journey that Salfarm has undergone. Today, Salfarm is a leading Danish player within animal pharmaceuticals, recognized by both suppliers and customers as a key partner and market expert in the Nordic region. Building on the strong team at Salfarm and their deep competencies and relationships, the ambition is to strengthen and grow Salfarm’s position outside of Denmark and establish a leading player in the Nordic market. The acquisition of FaunaPharma has been a first step on this journey,” says Simon Damkjær Wille, Partner at Polaris.

Please see the following press release:

English
Danish

For further information, please contact:
Simon Damkjær Wille, Partner
Phone: +45 4220 9639
Mail: sw@polarisequity.dk

Camilla Ringsted, Associate Director
Phone: +45 2968 6909
Mail: cri@polarisequity.dk

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IK Partners to acquire DRIESCHER

IK Partners

IK Partners (“IK”) is pleased to announce that the IK X Fund has signed an agreement to acquire Driescher GmbH (Moosburg and Eisleben) (“DRIESCHER” or “the Group”), a leading German manufacturer of high-tech medium and low voltage switches and switchgears. IK is acquiring its stake in DRIESCHER from the family shareholders, who will all be reinvesting. As part of the transaction, the co-founders and co-shareholders of the Czech subsidary, DRIBO, spol. s r.o. (“DRIBO”), will be selling their shares and reinvesting into the Group. Financial terms of the transaction are not disclosed.

Established over 85 years ago, DRIESCHER is a leading provider of critical grid components and a reliable partner to many large municipal utilities, industrial customers and railway operators. The Group offers a comprehensive portfolio of products and services, necessary for the expansion of energy grids and the modernisation of existing infrastructure.

DRIESCHER excels in providing SF6-free, air-insulated components designed to enhance protection and safety, serving as essential infrastructure for managing power flows and voltage conversion within energy grids. With a reputation for innovation and deep engineering expertise, the Group offers tailored solutions to meet a wide range of customer needs.

As a trusted partner to many organisations, DRIESCHER plays an important role in advancing the energy transition by improving grid reliability, expanding capacity, supporting the integration of renewable energy and fostering the shift towards broader electrification. Today, the Group has approximately 500 employees, based across four production sites in Germany and the Czech Republic.

With the support of IK, DRIESCHER aims to strengthen its core business by: engaging both existing and new customers; driving continuous product innovation; expanding operations in Germany and entering into other international markets; as well as enhancing aftersales services. The Group may also consider value-accretive bolt-on acquisitions.

Doris and Christoph Driescher, Family Shareholders of DRIESCHER, commented: “With a history of over 85 years, we take pride in the legacy built by our grandfathers, our fathers and the dedicated employees of DRIESCHER. Together with the management team, we are thrilled to partner with IK as DRIESCHER enters the next stage of its development. IK has convinced us with its expertise, values, cultural alignment and vision for the future of our Group, making this the right step to initiate the succession for DRIESCHER.”

Frank Hegenbart and Thomas Lehner, Managing Directors at DRIESCHER, added: “Our leadership team is very much looking forward to the partnership with IK. We are confident that, with the experience of our employees and the support of IK’s team, we will continue our path of sustainable growth with technologically leading products and excellent service for our steadily growing customer base.”

Dalibor Bartoš and Tamara Ottichová, Managing Directors at DRIBO, commented: “DRIBO and DRIESCHER have a joint history of almost 30 years and this new partnership represents a significant milestone in the Group’s development. We are looking forward to working with the team at IK to accelerate future growth.”

Anders Petersson, Managing Partner at IK Partners and Advisor to the IK X Fund,said: “DRIESCHER has established itself as a leading supplier of critical components of energy grids and is well-positioned for growth, driven by long-term market trends that include the need to modernise aging electrical grid infrastructure, enable the integration of new renewable energy sources and expand capacity to meet the rising demand for electricity. We would like to extend our sincere thanks to the family shareholders of DRIESCHER for choosing IK to be the Group’s new partner. We value the confidence placed in us and are very much looking forward to working with the management team in this next phase of DRIESCHER’s growth.”

For further questions, please contact:

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

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EQT Exeter To Acquire More Than One Million Square Feet of Class A Bulk Distribution Buildings in the Napa Valley Region of California

Bulk distribution buildings offer premier access to Northern California’s major metros and Western U.S., and are purpose-built to meet the needs of both logistics operators and specialized food and beverage tenants

Properties offer ample leasing opportunities and are well-positioned to attract top-tier tenants, with the potential to incorporate temperature-controlled enhancements that meet a variety of specialized operational needs

With the close of this transaction, EQT Exeter has acquired more than 60 million square feet of logistics properties for a total transaction volume of $8 billion over the last 12 months

 

EQT Exeter, a leading global real estate investment manager, is pleased to announce that the EQT Exeter Industrial Value Fund VI (“EQT Exeter”) has acquired two state-of-the-art bulk distribution buildings (collectively “the Properties”), located in the heart of Napa Valley’s iconic “Wine Country.” The Properties reflect EQT Exeter’s commitment to acquiring and enhancing high-caliber industrial buildings in top-tier logistics hubs.

Spanning over one million square feet, the Properties combine best-in-class building specifications with a premier location, offering seamless connectivity to the major metros of San Francisco, Sacramento, and San Jose, as well as the entirety of the western United States. Purposefully designed to support Northern California’s thriving food and beverage industry, these bulk distribution properties offer unparalleled proximity to the region’s consumer base and production hubs, and feature advanced building and site designs that accommodate both traditional logistics users and specialized operators. Notably, one of the buildings boasts direct rail access, an exceptional feature for real estate of this caliber. EQT Exeter is poised to collaborate with top-tier tenants to implement bespoke enhancements, ensuring the facilities meet the evolving demands for temperature-controlled spaces.

The Properties are currently home to a leading food and beverage operator occupying 337,000 square feet under a lease exceeding 10 years of lease term—a clear testament to the buildings’ strategic value and quality. This established tenancy underscores the alignment between EQT Exeter’s rigorous standards and the needs of industry leaders.

EQT Exeter’s local office, well-positioned to serve Napa Valley and the broader Northern California market, will leverage deep area relationships to ensure these Properties remain central to the region’s industrial ecosystem.

“EQT Exeter is committed to delivering spaces that not only meet the complex needs of today’s industrial and logistics users, but anticipate the evolving demands and growth ambitions of a variety of tenants, ” said Jeremy Hamaoui, Northern California Investment and Leasing Officer at EQT Exeter. “This acquisition reflects our ongoing strategy of investing behind high-quality properties in attractive markets while maintaining a tenant-focused approach to asset management.”

EQT Exeter was advised by Ryan Sitov of JLL.

Contact

EQT Press Office, press@eqtpartners.com

 

About

About EQT Exeter

EQT Exeter is a global real estate investment manager with over $30 billion of equity under management. EQT Exeter acquires, develops, leases, and manages logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. With over 450 experienced professionals operating in more than 50 offices globally, EQT Exeter owns and operates over 2,000 properties and 375 million square feet. EQT Exeter’s track record comprises over $45 billion in total property gross asset value since inception, spanning over 450 million square feet globally. EQT Exeter is the real estate division of EQT AB, a purpose-driven global investment organization.

More info: https://eqtexeter.com/

Follow EQT Exeter on LinkedIn

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CVC DIF acquires a portfolio of US regulated water and wastewater utilities

CVC Capital Partners
  • CVC DIF creates a leading mid-market regulated water and wastewater utility platform in the US Southwest
  • The transaction includes 18 water and wastewater utilities from JW Water and Robson Communities, serving over 50,000 customers

CVC DIF, the infrastructure strategy of leading global private markets manager CVC, is pleased to announce that it has acquired, through two transactions, 18 water and wastewater utilities serving over 50,000 customers in Arizona.

CVC DIF has acquired JW Water Holdings (JW Water), a regulated water and wastewater utility platform serving approximately 9,000 customers across ten utilities in Arizona. Concurrent with the acquisition of JW Water, CVC DIF also acquired a portfolio of eight regulated water and wastewater utilities, which were originally developed or purchased by real estate developer Ed Robson (Robson). The eight utilities, now serving over 41,000 customers in Robson’s master-planned communities in Arizona, trace their roots back to Pima Utility, founded in 1972. The investments in JW Water and the Robson utilities were made through DIF Infrastructure VII.

Established in 2013, JW Water has a demonstrated track record of acquiring and making necessary investments to improve the operations and reliability of small and medium-sized water and wastewater utilities in Arizona.

With the addition of the Robson utilities, JW Water will become a leading mid-market regulated water and wastewater utility platform serving over 50,000 customers. Going forward, JW Water is well positioned to invest in essential infrastructure needed to provide safe and reliable drinking water and wastewater utility service to its customers.

“The acquisition of JW Water, together with the acquisition of the eight Robson utilities, represents a significant investment in infrastructure that is critical to the health and well-being of the communities they serve. We are committed to making the necessary investments to ensure the utilities continue to provide safe and dependable service to customers,” said Gijs Voskuyl, Managing Partner at CVC DIF. “We also believe this investment is emblematic of CVC DIF’s focus on high quality infrastructure assets that provide stable long-term cash flows with the opportunity for additional growth and long-term value creation.”

“We are excited by the investment and long-term benefits the acquisition by CVC DIF will bring to the customers and communities served by the 18 utilities JW Water will now manage,” said Jason Williamson, CEO of JW Water, and industry veteran in the regulated water and wastewater sector in Arizona. “We are immensely proud of what we have accomplished to date, serving the communities in which we operate, and look forward to the next stage of investment, growth and stewardship supported by CVC DIF.”

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Texas Tower Secures New Leases Totaling 182,600 square feet

Cdpq
Six prominent firms join Texas Tower’s robust tenant roster, bringing building to 94% leased

Co-developer and global real estate firm, Hines, and the global real estate group of CDPQ, Ivanhoé Cambridge, today announced that Texas Tower is now 94% leased. Sable Offshore Corp, Moelis & Company, Sheppard Mullin, Squarepoint Capital and two confidential tenants have signed leases totaling 182,600 square feet at the 47-story, one-million-square-foot, Class AA office tower in downtown Houston.

“A couple years back, we started to formalize the concept of magnet office; identifying the intersection of exceptional design, location, and unparalleled amenities, attracting tenants who demand a workplace that elevates both their brand and employee experience,” said John Mooz, Senior Managing Director at Hines. “There is a clear delineation with the most discerning tenants seeking an unparalleled work environment. The unique combination of world-class amenities—including access to green space and sky atriums saturated with natural light—creates a dynamic space that better fosters collaboration and innovation.”

“Texas Tower underscores our strategic investment focus on the evolving office market in the United States,” said Michael Caracciolo, Managing Director, Real Estate, United States at Ivanhoé Cambridge. “Its prime location, exceptional sustainability credentials, and hospitality-centric services continue to attract top-tier tenants. Texas Tower exemplifies our commitment to the future of work, offering tenants scalable solutions through activated common areas, furnished suites, and flexible workspaces.”

Houston-based independent upstream company Sable Offshore Corp has secured 46,000 square feet on levels 28 and 29, with the lease beginning in the third quarter of 2025. Lease negotiations were facilitated by tenant brokers Kevin Kushner, William Padon, and Sydnee Hilburn with CBRE, alongside landlord broker Michael Anderson with Cushman and Wakefield.

Moelis & Company, a leading global independent investment bank that provides innovative strategic advice and solutions to a diverse client base, has leased 30,400 square feet on level 22. The lease is set to commence in the fourth quarter of 2025. Cushman and Wakefield handled lease negotiations, with David Guion and Chris Oliver representing the tenant and Michael Anderson representing the landlord.

Sheppard Mullin, a full-service AmLaw 50 law firm with more than 1,100 attorneys in 16 offices around the globe, has leased 29,800 square feet on level 25 with occupancy beginning in the fourth quarter of 2025. Kevin Kushner, William Padon and Sydnee Hilburn with CBRE represented the tenant in lease negotiations, while Michael Anderson with Cushman and Wakefield acted as the landlord’s broker.

A confidential tenant has secured 8,300 square feet on level 39, with the lease set to commence in the fourth quarter of 2025. Kevin Saxe with CBRE represented the tenant in lease negotiations, alongside landlord broker Michael Anderson with Cushman and Wakefield.

Squarepoint Capital, a privately held quantitative investment management firm, will take 8,200 square feet on level 18. The lease is scheduled to start in the third quarter of 2025. Lease negotiations were facilitated by Nick Bockhorn with CBRE as the tenant’s broker, alongside landlord broker Michael Anderson with Cushman and Wakefield.

Texas Tower’s current tenants include Hines, Vinson and Elkins, Clifford Chance, McGuireWoods and DLA Piper law firms. Other confirmed tenants include Cheniere Energy, Inc., Chicago Title, Charter Title Company, Morgan Stanley, a trading company and a confidential tenant. Additionally, The Square at Texas Tower now stands over 98% occupied.

For more information, including leasing details, visit texastower.com

About Hines

Hines is a leading global real estate investment manager. We own and operate $93.0 billion1 of assets across property types and on behalf of a diverse group of institutional and private wealth clients. Every day, our 5,000 employees in 31 countries draw on our 67-year history to build the world forward by investing in, developing, and managing some of the world’s best real estate. To learn more, visit www.hines.com and follow @Hines on social media.

¹ Includes both the global Hines organization and RIA AUM as of June 30, 2024.

About Ivanhoé Cambridge

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

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

For more information:  cdpq.com / ivanhoecambridge.com

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Freqens raises $3M to bring transparency to indirect purchases

Seedcamp

With global inflation on the rise, companies and more specifically corporate buyers, are finding it challenging to anticipate and manage cost fluctuations that directly impact their margins and profits.

We are excited to partner with Freqens, a Paris-based fintech company dedicated to transforming B2B purchasing practices through a cost benchmarking solution for indirect expenses (opex). By reducing the information asymmetry that often favors sellers in B2B transactions, Freqens enables buyers to instantly spot overvalued expenses and uncover significant savings opportunities.

Founded by a seasoned team of serial entrepreneurs and former scale-up executives, including CEO Maxime Liebens (former CSO at MakiPeople, JobTeaser), COO Richard Gozlan (former CEO of Cleanio, sold to Rocket Internet, COO of Agricool and Gopuff), and CTO Alexandre Barreira (former CPTO of Ornikar), Freqens’s technology uses real-time market data and peer benchmarking to help companies achieve a simple yet crucial goal: buying at the right price, every time.

In France, its home market, Freqens has already attracted several clients, including Electra, Polène, MemoBank, Homa Games, and Safran.ai, and has received support from purchasing experts such as Laurence Laroche (La Poste) and Florence Baiget (Veolia).

Martin Londe, CFO of Homa Games emphaises:

“We love this one-stop-shop for real-time cost overcharge detection and future spending assessment. This tool has definitely impacted our negotiation approach.”

Maxime Liebens, Co-founder and CEO of Freqens explains.

“What surprises us the most is how many companies buy quickly and inefficiently. SMEs and mid-sized companies lack the resources to benchmark their conditions, and in large enterprises, negotiation activities have been deprioritized in favor of a business partner role, where buyers must satisfy all stakeholders. The digitalization of procurement has also contributed to this shift, prioritizing execution speed and control over cost performance. We’re witnessing large-scale waste, whereas, in light of sales uncertainty, cost control is more crucial than ever.”

Richard Gozlan, Co-founder and COO, adds:

“We enable companies to instantly know the right price to pay and to benchmark complex categories — a task humanly impossible to achieve in a matter of seconds. Unlike recently emerged solutions, particularly in SaaS Management, which promote outsourcing and lack neutrality as they must satisfy both buyers and sellers, we remain an independent, trusted third party. I am convinced that the key to securing the best terms is to maintain and nurture a direct supplier relationship. Our analyses reveal price variations of up to 45% for comparable scopes.”

Freqens’ foundation is built on an experienced team with a track record of building high-growth companies. This team identified significant optimization opportunities in how companies evaluate their purchasing performance against the market, noting that the benchmarking process remains largely manual, time-consuming, and heavily dependent on individual skills and internal resources. This is why venture capital firms like Seedcamp and family offices such as Motier and Kima invested in this funding round.

On why we partnered with Freqens, our Partner Sia Houchangnia highlights:

“We were very impressed by Max, Alex, and Richard — especially their individual backgrounds and their complementarity as a founding team. We’ve seen several companies in the procurement/fintech space, which are often complex replacement suites. Freqens’ highly targeted approach, beyond its impact, avoids disrupting an already crowded procurement tool ecosystem, bringing maximum value and a very quick deployment capability.”

We are excited to participate in Freqens’ $3 million pre-seed funding, alongside Kima Ventures, Zebox, Motier Ventures, Financière Saint James, and prestigious business angels, including Mark Ransford, Alexandre Berriche, and Roxanne Varza.

With the new funding, the company aims to grow the team, invest in the development of its innovative product, and support its growth in the French and international markets.

For more information, visit freqens.com.

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Accel-KKR Raises First Strategic Capital Fund, Closing On Over $2.2 Billion for Secondary Investments in the Software Market

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Menlo Park, CA, November 21, 2024 – Accel-KKR, a global technology-focused investment firm, today announced the completion of fundraising for AKKR Strategic Capital LP (the “Fund”), closing on over $2.2 billion of capital commitments.

AKKR Strategic Capital will invest in a broad range of transactions primarily focused on the software industry in the secondary market, aligning with the firm’s long-standing focus and experience backing growing software and technology enabled services companies.  Accel-KKR has invested broadly in the secondary markets for over 15 years, utilizing capital primarily from its own balance sheet.  AKKR Strategic Capital will be Accel-KKR’s first fund dedicated to secondary investments utilizing outside capital, partially seeded with existing investments.

Tom Barnds, Co-Managing Partner at Accel-KKR, said, “The secondary market in private equity continues to experience significant growth, including accelerating growth in the GP-led continuation vehicle (“CV”) segment.  Based on our own successful experience with CVs, as well as other opportunities that we expect to find more broadly within the Accel-KKR ecosystem, we believe our firm is well positioned to bring specialized software expertise to the secondary market.”

Rob Palumbo, Co-Managing Partner at Accel-KKR, said, “We are quite pleased to be able to expand our capital available for investment in the secondary market, and look forward to partnering with many of our investors in this fund who bring very complementary secondary experience to the table.”

AKKR Strategic Capital will seek to lead investments in other sponsors’ continuation vehicles consisting of software assets, building on its experience to date. Accel-KKR made its first investment in this market, serving as sole lead investor in a continuation vehicle managed by LEA Partners, a DACH-headquartered private equity firm, to extend the duration of two high-quality software businesses in LEA’s portfolio with significant organic growth and M&A opportunities.

In addition to investing in and leading third-party CVs, AKKR Strategic Capital can participate in future Accel-KKR CVs.  Accel-KKR has significant experience in the CV market through its own CVs including:

  • In 2022, the firm completed Accel-KKR Capital Partners CV IV, a $1.765 billion multi-asset continuation vehicle for Accel-KKR’s $875 million 2013 vintage technology buyout fund.
  • In 2019, Accel-KKR completed Accel-KKR Capital Partners CV III, a $1.386 billion multi-asset continuation vehicle for its $600 million 2008 vintage technology buyout fund.

The investors in AKKR Strategic Capital comprise a diverse group of limited partners including public plans, foundations, university endowments and non-profits.  Many of these limited partners are active investors in the secondary markets.  The lead investor in AKKR Strategic Capital is Ardian, and other investors include StepStone Group, Adams Street Partners and CPP Investments. The General Partner and its affiliates have made an aggregate commitment of approximately 24% of the fund’s committed capital.

Accel-KKR has invested in or acquired over 450 technology companies globally since its founding in 2000, making it one of the most active private equity firms in the software and tech-enabled services sector.  These transactions have included acquisitions and recapitalizations of founder-owned or closely-held private companies; buyouts of divisions, subsidiaries and business units from private and public companies; and going-private transactions of public companies.  Over its history, Accel-KKR has raised 18 funds across five fund families, including Buyout (for majority investments), Emerging Buyout (for smaller majority investments), Growth Capital (for minority investments), Credit (for debt investments) and Strategic Capital.

About Accel-KKR
Accel-KKR is a technology-focused investment firm with $21 billion in cumulative capital commitments.  The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth.  At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its partner companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network.  Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives.  Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions.  Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City.

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Arcline-Backed DwyerOmega Acquires Process Sensing Technologies Ltd.

Arcline

MICHIGAN CITY, Ind., November 21, 2024 – DwyerOmega, a portfolio company of Arcline Investment Management, today announced the acquisition of Process Sensing Technologies Ltd. (“PST” or the “Company”). The acquisition significantly expands DwyerOmega’s sensing and instrumentation product offering and strengthens its position in several key end markets and regions.

 

Founded in 1964 and based in Ely, Cambridgeshire, UK, PST is a leading provider of measurement instrumentation and monitoring solutions for process-critical applications worldwide. With 12 leading brands, PST offers a comprehensive suite of proprietary sensors, instruments, analyzers, and monitoring solutions with sensing capabilities across parameters, including moisture, gas, level and flow. PST’s solutions enable safer conditions for people and processes, maximize energy efficiency, improve product quality, and ensure ongoing compliance with global standards. The combination of PST’s cutting-edge technologies with DwyerOmega’s high-quality sensing and instrumentation portfolio offers customers a broader range of solutions tailored for their unique applications.

 

“We are thrilled to welcome Process Sensing Technologies to the DwyerOmega family,” said Chuck Dubois, CEO of DwyerOmega. “PST has an exceptional portfolio of best-in-class sensors, instruments and gas analyzers, as well as leading software monitoring solutions. By bringing together two great organizations, we will provide customers a premier offering of precision measurement technologies with an enhanced global network of support and service resources. This acquisition advances our vision of being the provider of choice for measurement technologies to customers around the world.”

 

Adam Markin, CEO of PST, commented, “At PST, our employees have cultivated a culture rooted in innovation, continuous improvement, and an unrelenting pursuit of high-quality customer service. The DwyerOmega team shares a clear alignment with these principles, and I firmly believe joining the DwyerOmega family will strengthen our collective efforts going forward.”

 

Barclays served as financial advisor to DwyerOmega in connection with the transaction.

 

About DwyerOmega

DwyerOmega is a leader in the design and manufacture of innovative sensors and instrumentation solutions for the indoor environmental quality (IEQ), building automation, process and environmental markets. DwyerOmega has a global footprint and serves its market through brands including Dwyer Instruments, Omega Engineering, Automated Components Inc. (ACI), Miljoco, Weiss Instruments, Universal Flow Monitors (UFM), Love Controls, Mercoid, WE Anderson, and Proximity. To learn more about DwyerOmega, visit www.dwyer-inst.com and www.omega.com.

 

About Process Sensing Technologies

PST designs, manufactures, and distributes differentiated measurement solutions which analyze and monitor vital process parameters with high precision in mission critical applications. The Company’s portfolio of solutions serves a broad range of end markets including pharmaceutical, bioscience, medical, aerospace, semiconductor, compressed air, building automation, and energy markets. PST has operations across Europe, North America and Asia. To learn more about PST, visit www.processsensing.com.

 

General Inquiries

contact@arcline.com

 

Press Inquiries Only

Arcline-JF@joelefrank.com
1.212.355.4449

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Lighthouse Announces $370 Million Series C Investment Led by KKR to Accelerate Platform Innovation and Growth

Spectrum Equity

The investment supports continued expansion of AI and business intelligence capabilities for over 70,000 hospitality properties globally

LONDON, November 21, 2024 – Lighthouse, the leading commercial intelligence platform for the travel & hospitality industry, today announced an approximately $370 million growth investment led by global investment firm, KKR. This investment accelerates Lighthouse’s mission to reimagine commercial strategy for the $15 billion travel & hospitality technology market. Proceeds from the investment will be used to drive continued product innovation across Lighthouse’s platform, strategic acquisitions, and global expansion efforts.

Lighthouse’s suite of products provides revenue managers, commercial leaders, and accommodation owners with easy-to-use tools that drive incremental bookings, streamline operations, and enable a better customer experience for guests. The platform is underpinned by proprietary technology that processes over 400 terabytes of travel and market data daily and leverages AI to deliver real-time insights that enable customers to make better and more efficient operational decisions. Lighthouse has established itself as hospitality’s leading commercial intelligence platform, with 700+ employees worldwide and an industry-leading NPS score of 70+.

“We’re extremely grateful to the 70,000+ hospitality providers, who have placed their trust in Lighthouse,” said Sean Fitzpatrick, CEO of Lighthouse. “I couldn’t be more energized by what we’re working towards. We’re just getting started in making hospitality data and tools more powerful, accessible, and affordable. This investment by KKR significantly accelerates our ability to enhance our commercial platform through expanded AI capabilities and additional data sets, enabling us to better serve our existing customers while continuing to expand across the hospitality market.”

KKR has established a proven track record of supporting technology-focused growth companies, having invested approximately $23 billion in related investments since 2010 through its private equity and growth equity funds and built a dedicated global team of nearly 70 investment professionals with deep technology growth equity expertise. Lighthouse will be able to leverage KKR’s extensive industry experience, local resources and global network to help further enhance its customer offerings and tap into new segments globally.

“Lighthouse has demonstrated an exceptional ability to support hoteliers of all sizes – ranging from global chains to independent properties – by addressing the unique needs of each segment,” said Stephen Shanley, Partner and Head of Tech Growth in Europe at KKR. “Their strong track record, customer loyalty, and proven ability to deliver value across varied markets position them as the leading platform in this space. We are proud to support Lighthouse in expanding its global footprint, driving continued innovation, and enhancing its market leading offerings.”

This latest funding builds on Lighthouse’s $80M Series B investment round, which was completed in November 2021. Existing investors Spectrum Equity, F-Prime Capital, Eight Roads Ventures, and Highgate Technology Ventures will continue their participation in the business.

KKR is making the investment in Lighthouse through its Next Generation Technology III Fund.

William Blair acted as financial advisor. Latham & Watkins served as legal advisor to Lighthouse and Gibson Dunn as legal advisor to KKR.

About Lighthouse

Lighthouse (formerly OTA Insight) is the leading commercial platform for the travel & hospitality industry. We transform complexity into confidence by providing actionable market insights, business intelligence, and pricing tools that maximize revenue growth. We continually innovate to deliver the best platform for hospitality professionals to price more effectively, measure performance more efficiently, and understand the market in new ways. Trusted by over 70,000 hotels in 185 countries,

Lighthouse is the only solution that provides real-time hotel and short-term rental data in a single platform. We strive to deliver the best possible experience with unmatched customer service. We consider our clients as true partners—their success is our success. For more information about Lighthouse, please visit: mylighthouse.com.

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 kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at globalatlantic.com.

The specific companies identified above do not represent all of Spectrum’s investments, and no assumptions should be made that any investments identified were or will be profitable. View the complete list of our portfolio companies. Spectrum is not responsible for the contents of any third party website linked above, and has not confirmed the accuracy of any information provided therein.

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Lighthouse Announces $370 Million Series C Investment Led by KKR to Accelerate Platform Innovation and Growth

KKR

Investment supports continued expansion of AI and business intelligence capabilities for over 70,000 hospitality properties globally

LONDON–(BUSINESS WIRE)– Lighthouse, the leading commercial intelligence platform for the travel & hospitality industry, today announced an approximately $370 million growth investment led by global investment firm, KKR. This investment accelerates Lighthouse’s mission to reimagine commercial strategy for the $15 billion travel & hospitality technology market. Proceeds from the investment will be used to drive continued product innovation across Lighthouse’s platform, strategic acquisitions, and global expansion efforts.

Lighthouse’s suite of products provides revenue managers, commercial leaders, and accommodation owners with easy-to-use tools that drive incremental bookings, streamline operations, and enable a better customer experience for guests. The platform is underpinned by proprietary technology that processes over 400 terabytes of travel and market data daily and leverages AI to deliver real-time insights that enable customers to make better and more efficient operational decisions. Lighthouse has established itself as hospitality’s leading commercial intelligence platform, with 700+ employees worldwide and an industry-leading NPS score of 70+.

“We’re extremely grateful to the 70,000+ hospitality providers, who have placed their trust in Lighthouse,” said Sean Fitzpatrick, CEO of Lighthouse. “I couldn’t be more energized by what we’re working towards. We’re just getting started in making hospitality data and tools more powerful, accessible, and affordable. This investment by KKR significantly accelerates our ability to enhance our commercial platform through expanded AI capabilities and additional data sets, enabling us to better serve our existing customers while continuing to expand across the hospitality market.”

KKR has established a proven track record of supporting technology-focused growth companies, having invested approximately $23 billion in related investments since 2010 through its private equity and growth equity funds and built a dedicated global team of nearly 70 investment professionals with deep technology growth equity expertise. Lighthouse will be able to leverage KKR’s extensive industry experience, local resources and global network to help further enhance its customer offerings and tap into new segments globally.

“Lighthouse has demonstrated an exceptional ability to support hoteliers of all sizes – ranging from global chains to independent properties – by addressing the unique needs of each segment,” said Stephen Shanley, Partner and Head of Tech Growth in Europe at KKR. “Their strong track record, customer loyalty, and proven ability to deliver value across varied markets position them as the leading platform in this space. We are proud to support Lighthouse in expanding its global footprint, driving continued innovation, and enhancing its market leading offerings.”

This latest funding builds on Lighthouse’s $80M Series B investment round, which was completed in November 2021. Existing investors Spectrum Equity, F-Prime Capital, Eight Roads Ventures, and Highgate Technology Ventures will continue their participation in the business.

KKR is making the investment in Lighthouse through its Next Generation Technology III Fund.

William Blair acted as financial advisor. Latham & Watkins served as legal advisor to Lighthouse and Gibson Dunn as legal advisor to KKR.

About Lighthouse

Lighthouse (formerly OTA Insight) is the leading commercial platform for the travel & hospitality industry. We transform complexity into confidence by providing actionable market insights, business intelligence, and pricing tools that maximize revenue growth. We continually innovate to deliver the best platform for hospitality professionals to price more effectively, measure performance more efficiently, and understand the market in new ways. Trusted by over 70,000 hotels in 185 countries, Lighthouse is the only solution that provides real-time hotel and short-term rental data in a single platform. We strive to deliver the best possible experience with unmatched customer service. We consider our clients as true partners—their success is our success. For more information about Lighthouse, please visit: https://www.mylighthouse.com.

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.

Lighthouse
Adam Swart
pr@mylighthouse.com

KKR
FGS Global
Alastair Elwen / Jack Shelley
+44 20 7251 3801
KKR-LON@fgsglobal.com

Source: KKR

 

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