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Prime Label acquires Romanian printing company Grafoprint

Innnova Capital

Prime Label acquires Romanian printing company Grafoprint

Prime Label Group, a leading label manufacturer in Central and Eastern Europe (CEE), has strengthened its position by acquiring a 100% stake in Grafoprint, a prominent Romanian printing business. As part of the private equity fund Innova/6 of the Innova Capital group, this marks Prime Label’s sixth acquisition in five years, underscoring its growth ambitions in the CEE region. This acquisition allows the Group to expand in the promising Romanian market while exceeding its sales target of EUR 100 million by the end of 2024.

Founded in 1991, Grafoprint was one of Romania’s first private printing companies and has remained a leading player in the industry. With over 30 years of experience, the company provides comprehensive label production services, from design to professional printing using top-quality materials. Specializing in both flexographic and digital printing, Grafoprint produces self-adhesive labels for leading FMCG brands in the cosmetics, household chemicals, and food & beverage sectors.

Prime Label’s latest acquisition is another step in its long-term growth strategy, which strengthens the Group’s position as a regional leader in label production. Entering the Romanian market – the second largest in Central and Eastern Europe – not only enhances the Group’s sales capabilities by cross-selling products manufactured in other facilities but also allows significant cost synergies to be realized.

“2024 is a milestone year for Prime Label. We’re set to surpass EUR 100 million in sales, joining the ranks of Europe’s largest label manufacturers. Since 2019 and the acquisition of the first company – the Poland-based Embe Press printing house, the Group has grown more than sevenfold. Geographical expansion through the Grafoprint takeover creates new development opportunities for us. We see Romania as a great potential market, although it is still underestimated. Intuition and market data tell us that it is a good investment direction. The Romanian economy is growing dynamically compared to other European countries, and the increasing direct investments of the Group’s current and potential clients in Romania show that it is worth being here. I am very excited about our development plans within this market,” says Arkadiusz Sapiecha, CEO of Prime Label.

“I believe that bringing Grafoprint into the Prime Label Group will yield substantial benefits. Being part of a larger network will strengthen its market position and enable purchasing synergies. We’re also eager to expand Grafoprint’s product range with new label types in which Prime Label excels, fostering a productive exchange of expertise. The sharing of know-how and best practices, supported by a cooperative atmosphere – which we prioritize – will drive company success and employee satisfaction,” adds Grzegorz Świderski, CFO of Prime Label.

“Today, Grafoprint begins a new chapter as part of Prime Label Group, marking our transition from a local business to a European player. This step is both a challenge and an opportunity, recognizing our team’s dedication and the trust of our investors. We are excited to leverage our expertise within a European network and look forward to a fruitful collaboration ahead,” – comments Octavian Tocaci, Managing Director of Grafoprint.

“We have been consistently developing the Prime Label portfolio for years and entering new markets in the region is a natural step for us towards further growth. We believe that close cooperation with the Grafoprint team and knowledge sharing will allow us to fully exploit the potential of the Group, especially in Romania. We have an exciting time ahead of us – on the one hand, we will be expanding our Prime Label and Grafoprint offerings, strengthening the sales network, and creating solutions for customers that perfectly match their needs. On the other hand, we will continue to make acquisitions in line with the long-term vision for the development of Prime Label,” says Michał Wojdyła, Partner at Innova Capital, who leads the transaction.

 

About Prime Label

Prime Label has five label printing companies in its portfolio: Chemes from Poznan (Poland) and EmbePress from Lublin (Poland) – specialising in flexo printing, LabelProfi – a Slovenian digital printing house, LabelPrint – an Estonian entity dedicated to the Baltic markets and Scandinavian clients, and the Polish printing company PEGWAN.

www.embepress.pl, www.chemes.eu, www.labelprofi.com, www.labelprint.ee, www.pegwan.com

 

About Grafoprint

Grafoprint is a Romanian company with more than 30 years of experience, specialising in the production of high quality self-adhesive labels and packaging materials. As one of the first privately owned printers in the country, Grafoprint offers a wide range of solutions for various industries, including FMCG, cosmetics, pharmaceuticals and industrials. The company uses advanced flexographic and digital printing technologies, offering flexibility, vibrant colours and the ability to fully personalise labels. With a comprehensive approach that includes design, pre-press and colour management, Grafoprint helps clients build a strong brand in the retail market, attract consumer attention and add value to products on the shelf.

www.grafoprint.ro

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Kaizen receives £42 million growth investment from Guidepost Growth Equity

Guidepost Logo

London, November 6, 2024 – Kaizen, a leading provider of regulatory compliance solutions for global financial institutions, today announced the completion of a £42 million minority investment from Guidepost Growth Equity, a Boston-based growth equity firm partnering with entrepreneur-led technology companies. The investment will be used to accelerate product development, invest in go-to-market initiatives, expand in North America, and enhance its award-winning compliance technology. This represents Kaizen’s first external investment since its founding in 2013 by CEO Dario Crispini.

Kaizen is the global leader in regulatory reporting quality assurance with its pioneering ReportShield platform, which enables its clients to fully test the accuracy and quality of regulatory reports at the trade level, identify 100% of errors at scale, and efficiently remediate with global regulatory coverage including MiFID, EMIR, SFTR, CFTC, and SEC, among others.

Kaizen has established itself as a trusted partner to the world’s largest and most sophisticated banks, asset managers, hedge funds and brokers to ensure accurate, complete, and timely reporting in an increasingly challenging regulatory environment, evidenced by strong revenue growth since inception.

More recently, the Company has diversified its product suite to include solutions for managing and reporting shareholding disclosures, regulatory rules management, trade and communications surveillance and research management. Kaizen has also invested in London Reporting House and Cumulus9.

Dario Crispini, Founder and CEO, Kaizen commented: “We are delighted to be partnering with Guidepost as we enter a new chapter in our evolution. Guidepost has a great track record in helping firms reach their full potential and their investment and partnership will enable us to build and enhance our existing technology, deliver new compliance solutions, and drive our expansion into North America. The solutions we offer at Kaizen are designed to help our clients adhere to their compliance obligations in an efficient and cost-effective manner and we look forward to delivering more solutions that do just that.”

Gene Nogi, General Partner at Guidepost said: “Kaizen has transformed the transaction reporting and compliance market, helping the world’s largest financial institutions navigate and comply with an increasingly complex regulatory environment with heightened scrutiny from regulators. The Company embodies everything we look for in an entrepreneur-led, capital-efficient, rapidly growing, and highly differentiated technology business operating within a large, dynamic market. We are thrilled to partner with Dario, Ian and the entire team at Kaizen and look forward to working together on the next stage of the journey.”

As part of the investment, Gene Nogi will join the Kaizen Board of Directors alongside two new independent directors to be named. Raymond James was the exclusive financial advisor on the investment and Norton Rose Fulbright acted as legal counsel to Kaizen. Liberty Corporate Finance, Alvarez and Marsal and Crosslake also advised Kaizen. Choate Hall & Stewart and Stevens & Bolton acted as legal counsel to Guidepost.

About Guidepost Growth Equity

Guidepost Growth Equity (“Guidepost”) is a leading core growth equity firm that partners with entrepreneur-led companies utilizing technology to transform industries within application and infrastructure software and tech-enabled and data services. Current and prior investments include ActiveViam (acquired by Nordic Capital), ClassWallet, Lucid (acquired by Cint Group AB), Mineral (acquired by Mitratech), OutSystems, Traction on Demand (acquired by Salesforce), and Tractive. The firm is headquartered in Boston, MA.

Guidepost Growth Equity provides the flexible capital, operational assistance, and strategic guidance necessary to support the continued success of high-growth businesses and has over $1.9 billion of capital under management. For more information, please visit their website.

For more information, please contact James Dunseath, Communications Advisor, on +44 (0) 7557 955795 or media@kaizenreporting.com

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Gridiron Capital Portfolio Company Vertical Supply Group Acquires UK-Based Tacklestore ltd.

Gridiron Capital

Acquisition Will Further VSG’s Leadership in the At-Height Safety and Adjacent Industrial End Markets

NEW CANAAN, CT, November 4, 2024 – Gridiron Capital, LLC (“Gridiron Capital” or “Gridiron”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is proud to announce that its portfolio Company Vertical Supply Group (“VSG” or the “Company”), a leading supplier and manufacturer of life safety equipment, has acquired Tacklestore ltd. (“Tacklestore”), a UK leader in at-height safety, fall protection, material lifting, and personal protection equipment (PPE). Tacklestore was founded by Mike Hughes in 2004 and currently operates out of its head office in Bristol, with seven depot locations across the UK. Tacklestore sells its leading brands including G-Force, LiftinGear, LoadSurfer, ActionRam, and LifeGear through its depots and websites: safetyliftingear.com, lifegear.com, and safety-lifting.com. Terms of the acquisition were not disclosed.

“We are very excited to add the Tacklestore brands, websites, and depots to the VSG platform and build on the amazing base Mike Hughes created. By adding the Tacklestore brands to our current assortment offered at our Honey Brothers locations, we are expanding the industries we cover to help us achieve our goal of becoming a one-stop shop for all of our customers’ work-at-height needs,” remarked Jeff Morris, CEO of Vertical Supply Group.

Vertical Supply Group (VSG) was established in 1960 as Sherrill Tree, initially serving arborists and tree care professionals. Since that time VSG has expanded its portfolio to include multiple brands and products for those who work at height, becoming a leader in vertical access, life safety, and climbing equipment.

“We had been looking for the right partner to carry on the Tacklestore legacy. We feel that our brands and people are in great hands with VSG and the partnership will open many opportunities for us to reach a global customer base,” added Mike Hughes, founder and Managing Director of Tacklestore.

“VSG’s partnership with Tacklestore’s product portfolio expands VSG into new attractive industrial, entertainment, utility and construction end markets in the UK and will provide a springboard for expansion into new end markets and geographic areas in the future,” commented Tom Burger, Co-Founder and Managing Partner of Gridiron.

“The acquisition of Tacklestore further expands VSG’s addressable market and progresses our growth strategy to significantly expand VSG’s international presence while building out VSG’s owned and controlled brands strategy to create a good, better, best product offering across diversified end markets in the work-at-height and life-safety industries,” said John Warner, Managing Director at Gridiron.

 

About Gridiron Capital

Gridiron Capital is an investment firm focused on partnering with founders, entrepreneurs, and management teams, and creating value by building middle-market companies into industry-leaders in consumer products & services, industrial growth, and business services segments in the United States and Canada. We help transform growing companies by winning together through hard work, partnerships grounded in shared values and a unique culture that comes from hands-on experience building and running businesses. As a team led by former operators and entrepreneurs, we know what it takes to run successful businesses on a day-to-day basis. Additional information is available on the firm’s website: www.gridironcapital.com.

About Vertical Supply Group

Vertical Supply Group (“VSG”) is a vertically integrated business focusing on product development, manufacturing, and equipment supply. Comprised of brands Sterling, Notch, Rope Logic, Yates Gear, and Silky, as well as webstores TreeStuff.com, SherrillTree.com, HoneyBros.com, Universal Field Supplies, UtilityDirect.com, Bishco.com, and RescueDirect.com, VSG delivers the most comprehensive assortment of products for arborists, climbers, rope access and technical rescue technicians, utility lineman, and other work-at-height professionals globally. Learn more at www.verticalsupplygroup.com.

About Tacklestore ltd.

Tacklestore is a specialist supplier of lifting and fall protection products. It is comprised of 13 brands, including G-Force, Liftingear, and LoadSurfer, as well as several websites such as safetyliftingear.com, safety-lifting.com, and life-gear.com. Headquartered in Bristol, UK, Tacklestore offers an extensive range of products and technical expertise across lifting gear, height safety, load restraint, material handling, PPE, workwear, and industrial supplies. Their services also include inspection, repair, testing, and rentals across nine UK locations. Learn more at www.tacklestore.net.

 

Contacts

Gridiron Capital, LLC

Thomas A. Burger Jr.

Co-Founder and Managing Partner

tburger@gridironcapital.com

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Aliter completes investment in legal services firm BBS Law

Aliter Capital

BBS Law to increase national footprint and expand services to high growth clients

 

Picture shows back row (L to R) Richard Denton, Head of London Office and Private Client, BBS Law, James Davies, Investment Director, Aliter, Avi Barr, Head of Secured Lending and Property (London), BBS Law. Front row (L to R) Dov Black, Managing Partner and Head of Corporate, BBS Law, Billy Allan, Founding Partner, Aliter.

 

Aliter has completed an investment in BBS Law (BBS), the full service law firm with offices in Manchester and London, serving the legal needs of the SME sector, entrepreneurs and high-net-worth individuals.

 

Founded in 1978, BBS provides a wide range of legal services including Corporate, Property, Secured Lending, Private Client, Employment, Litigation and Family Law. Over the past two years, BBS has grown through the successful completion of two acquisitions and Aliter’s investment will now support the firm’s ambitious future growth and development plans.

Dov Black, Managing Partner and Head of Corporate Finance, BBS Law said: “This deal provides a fantastic opportunity to build national coverage across the UK and create a differentiated brand within the market, while remaining resolutely focused on meeting the needs of our core client base. We believe strongly the added support of Aliter brings significant experience and resources to help us accelerate the next stage of BBS’s development.”

 

Aliter’s Investment Director James Davies said: “Aliter is the ideal partner for BBS, bringing a track record of driving growth, access to capital for further expansion and specialist knowledge and experience of BBS’s main target markets. BBS is a great business with highly compelling characteristics, including a resilient business model, a range of complementary services to suit its customer base, long-standing customer relationships, a footprint in the attractive areas of Manchester and London and a track record of organic growth and successfully integrating bolt-on acquisitions”.

 

Davies also confirmed that Aliter is working closely with BBS on a pipeline of target acquisitions, aiming to expand the firm’s regional coverage across the UK, strengthen existing services and add complementary new services.

 

Aliter’s investment establishes a fifth platform business in Aliter Fund II and the senior partners at BBS will continue to be significant shareholders.

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Nektar Announces Definitive Agreement with Ampersand Capital Partners to Sell Its Commercial PEGylation Reagent Manufacturing Business in Alabama

Ampersand

Huntsville-based facility to be spun out as standalone Ampersand portfolio company. Nektar to receive $90 million in total consideration for the business, comprised of $70 million in cash and $20 million equity ownership in new portfolio company. Strategic divestiture allows Nektar to streamline its operations and continue its strategic focus on the development of core R&D programs in immunology.

San Francisco, CA, November 4th, 2024 – Nektar Therapeutics (Nasdaq: NKTR), a global biotechnology company focused on the discovery and development of novel therapies to treat autoimmune disorders, today announced that it has entered into a definitive agreement to sell its Huntsville, Alabama manufacturing facility and reagent supply business to Ampersand Capital Partners, a Boston-based private equity firm with a decades-long track record of investing in life sciences and healthcare companies, including contract manufacturing and pharma services businesses.

Ampersand has agreed to acquire Nektar’s commercial-scale manufacturing facility and PEGylation reagent supply business for a total consideration of $90 million, comprised of $70 million in cash proceeds and $20 million in a retained equity position for Nektar in a newly-created Ampersand portfolio company. Ampersand has also committed to invest additional growth equity capital into the new portfolio company. Following the closing of the transaction, Nektar will be entitled to appoint a representative to the board of the new Ampersand portfolio company.

The Huntsville site is a 124,000 square foot, commercial-scale specialized manufacturing facility with a strong history of supporting commercial supply chains for PEGylated therapeutics across global markets. The facility has several commercial-scale supply chain contracts with leading pharmaceutical companies. All of Nektar’s employees at the Huntsville facility will be offered employment at the new portfolio company, ensuring continuity in the high-quality manufacturing and PEGylation expertise that longstanding customers trust and rely on.

“This sale streamlines Nektar’s operations as we continue to focus on the future success and clinical advancement of rezpegaldesleukin and our other antibody-based immunology pipeline assets, including our TNFR2 antibody and bispecific programs,” said Howard W. Robin, President and CEO of Nektar Therapeutics. “We believe Ampersand is an optimal partner to lead the manufacturing activities at the Huntsville facility. Importantly, Ampersand’s commitment to investing in the plant’s business will help ensure that Nektar’s existing commercial customers of PEGylation reagents will continue to be well served and will also provide uninterrupted access to a reliable supply of PEGylation reagents for Nektar’s needs. The sale also further extends Nektar’s cash runway into the fourth quarter of 2026.”

Nektar and the new Ampersand portfolio company will be entering into manufacturing supply agreements to meet Nektar’s PEG reagent needs for rezpegaldesleukin and certain pipeline programs.

“We were immediately impressed with the world-class PEGylation reagent manufacturing capabilities at this facility,” said David Anderson, General Partner, Ampersand Capital Partners. “The Huntsville site and its employees have played an important role in the development of significant FDA-approved PEGylated therapeutic medicines. We look forward to investing in and growing the site as a stand-alone manufacturing business dedicated to serving existing and new customers.”

The sale is not subject to financing contingencies. The transaction will be subject to customary closing conditions and costs and is expected to close by December 2, 2024. Following the closing, Nektar will retain all rights to current and future royalty streams and milestones related to existing PEGylated product license agreements.

UBS Investment Bank acted as exclusive financial advisor and Sidley Austin LLP served as legal advisor to Nektar Therapeutics. Goodwin Procter LLP acted as legal advisor to Ampersand Capital Partners.

About Nektar Therapeutics

Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments that address the underlying immunological dysfunction in autoimmune and chronic inflammatory diseases. Nektar’s lead product candidate, rezpegaldesleukin (REZPEG, or NKTR-358), is a novel, first-in-class regulatory T cell stimulator being evaluated in two Phase 2b clinical trials, one in atopic dermatitis and one in alopecia areata. Our pipeline also includes a preclinical candidate NKTR-0165, which is a bivalent tumor necrosis factor receptor type II agonist antibody. Nektar, together with various partners, is also evaluating NKTR-255, an investigational IL-15 receptor agonist designed to boost the immune system’s natural ability to fight cancer, in several ongoing clinical trials. Nektar is headquartered in San Francisco, California. For further information, visit Nektar.com and follow us on LinkedIn.

About Ampersand Capital Partners

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 us on LinkedIn.

This press release contains forward-looking statements which can be identified by words such as: “will,” “expect,” “develop,” “extend,” “advance,” “anticipate,” “can,” and similar references to future periods. Examples of forward-looking statements include, among others, statements regarding the therapeutic potential of, and future development plans for rezpegaldesleukin, NKTR-1065, and our other drug candidates. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward looking statements. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others: (i) our statements regarding the therapeutic potential of rezpegaldesleukin, NKTR-1065, and our other drug candidates are based on preclinical and clinical findings and observations and are subject to change as research and development continue; (ii) rezpegaldesleukin, NKTR-1065, and our other drug candidates are investigational agents and continued research and development for these drug candidates is subject to substantial risks, including negative safety and efficacy findings in future clinical studies (notwithstanding positive findings in earlier preclinical and clinical studies); (iii) rezpegaldesleukin, NKTR-1065, and our other drug candidates are in preclinical and clinical development, and the risk of failure is high and can unexpectedly occur at any stage prior to regulatory approval; (iv) the timing of the commencement or end of clinical trials and the availability of clinical data may be delayed or unsuccessful due to regulatory delays, slower than anticipated patient enrollment, manufacturing challenges, changing standards of care, evolving regulatory requirements, clinical trial design, clinical outcomes, competitive factors, or delay or failure in ultimately obtaining regulatory approval in one or more important markets; (v) patents may not issue from our patent applications for our drug candidates, patents that have issued may not be enforceable, or additional intellectual property licenses from third parties may be required; and (vi) certain other important risks and uncertainties set forth in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 9, 2024. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

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Teamfront Expands its Portfolio of Field Services Software Companies with the Acquisition of Floorzap

Mainsail partners

This acquisition bolsters Teamfront’s mission to empower field service businesses with innovative technology

Austin, TX – November 4, 2024 – Teamfront, a strategic partner for founder-owned field services software companies, today announced the acquisition of Floorzap, a leading provider of business management software for the flooring and remodeling industries. This strategic move strengthens Teamfront’s commitment to providing innovative software solutions to the field services industry and underscores its dedication to empowering founder-owned software companies with the tools and best practices they need to succeed in their unique domains.

Developed by flooring industry experts with more than 20 years of experience, Floorzap offers a comprehensive suite of features that streamline the entire flooring business management process. From lead management to job costing, and billing and payment processing to installation, Floorzap provides a seamless and efficient solution that helps flooring businesses increase efficiency, reduce costs, and improve customer service, whether in the store or in the field.

“We’re excited to welcome Floorzap to the Teamfront family, ” said Cameron Darby, CEO of Teamfront. “Their extensive knowledge of the flooring and remodeling industries and their commitment to operational efficiency make them a perfect fit for our portfolio. Together, we’ll offer flooring companies a comprehensive suite of solutions to streamline their operations and help drive growth.”

Mike Saleh, founder of Floorzap, expressed enthusiasm about the partnership with Teamfront, saying “This acquisition will provide Floorzap with the resources and strategic support needed to continue our mission of helping flooring and remodeling businesses work smarter and grow faster and more profitably.”

The acquisition of Floorzap marks a significant milestone for Teamfront as it continues to expand its portfolio of vertical software companies. Teamfront’s comprehensive solutions automate fundamental back-office tasks, streamline and optimize payments, drive growth through powerful marketing websites and services, and boost loyalty through effective customer communications. Teamfront has become a trusted partner for bootstrapped, founder-owned companies seeking support for operational efficiency and growth.

About Teamfront
Founded in 2023 and headquartered in Austin, TX, Teamfront is a strategic partner to founder-owned software companies that are market leaders in the field services industry. Our team, comprised of seasoned executives in vertical SaaS, provides holistic operational support, playbooks, and best practices that enable our Team Cos to achieve their visions. Our commitment is to empower software companies to thrive and succeed in their unique domains. Together, we aim to thrive on this journey of growth. Learn more at www.teamfront.com.

About Floorzap
Floorzap is a leading provider of flooring business management software designed to streamline operations and drive growth for flooring companies. With a comprehensive suite of features, Floorzap helps businesses manage inventory, track sales, manage projects, and improve customer relationships, ultimately increasing efficiency and profitability. Learn more at www.floorzap.com.

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Equistone portfolio company BUKO Traffic & Safety expands into the German market with acquisition of BVT Bremer Verkehrstechnik

Equistone

BUKO Traffic & Safety (“BUKO”), a leading provider of outsourced traffic and safety management solutions in the Netherlands and the UK, has acquired BVT Bremer Verkehrstechnik GmbH (“BVT”). The acquisition marks BUKO’s expansion into Germany, a key strategic growth market, and follows the company’s expansion into the UK market earlier this year through the acquisition of Road Traffic Solutions Ltd. (RTS). The parties have agreed not to disclose details of the transaction.

Headquartered in Barendrecht, the Netherlands, BUKO Traffic & Safety employs over 450 people and successfully oversees thousands of projects annually. A leading provider of outsourced traffic and safety management solutions in its home market of the Netherlands, the company consists of the two business units BUKO Infrasupport and BUKO Waakt. Founded in 1991, BUKO Infrasupport specialises in temporary traffic management solutions. With its comprehensive portfolio of services – from design, planning, approval, deployment and collection, as well as onsite management of road signage, safety equipment required for roadworks and also an innovative range of digital traffic management solutions – BUKO Infrasupport primarily serves contractors and public authorities, active in utility-related and urban/rural roadworks. BUKO Waakt provides temporary remote security solutions with a focus on camera surveillance, intrusion detection systems and access control systems, which are used principally on construction sites.

Since funds advised by Equistone acquired a majority stake in BUKO in February 2023, the company has pursued a growth strategy focused on building its presence in its home market and targeted expansion into neighbouring countries supported by strong market dynamics. In March 2024, BUKO established a foothold in the attractive UK market with the acquisition of RTS, a temporary traffic and event management solutions specialist, operating from seven locations and employing 175 people.

By establishing a presence in Germany, the acquisition of BVT represents the next milestone in BUKO’s growth strategy. Headquartered in Stuhr (near Bremen), BVT provides high-quality temporary traffic management services to a diverse customer base of contractors, local authorities and event organisers. In recent years, BVT has grown into a go-to partner for customers in the region by combining a focus on low-speed traffic situations with a strong service proposition. BVT currently operates from three locations and has 75 employees.

“We are excited to partner with BVT for our entry into the German market. There is a strong fit between BVT and BUKO in terms of strategic focus, culture and shared ambitions for the future.”, says Robert Emmerich, CEO at BUKO. “This partnership marks our entry into Germany, and we are determined to significantly expand our presence over the coming years.”

“After successfully entering the UK market earlier this year, BVT represents an ideal partner for BUKO as it now enters the German market. We are excited to help BUKO realise its international growth ambitions via a targeted buy-and-build strategy which will enable the company to replicate its exceptional track record in the Netherlands in new markets,” says Tanja Berg, Director in Equistone’s Munich office.

The Equistone team includes Hubert van Wolfswinkel, Tanja Berg and Josh Aalbers. BUKO was advised on the transaction by PwC (Financial & Tax), De Angelis (Legal), Roland Berger (Commercial) and Rautenberg (M&A).

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CVC DIF acquires strategic interest in Singapore’s leading hazardous waste management company ECO

CVC Capital Partners

CVC DIF has agreed to acquire a 49.9% stake in ECO, a hazardous waste management company in Singapore.

  • ECO operates with 649,000 tonnes per year waste processing capacity for its customers across a range of services.
  • This acquisition marks CVC DIF’s inaugural investment into Asia.
  • Séché Environnement will retain a 50.1% share and bring their extensive waste management and circular economy waste expertise to the partnership.

CVC DIF, the infrastructure arm of global private markets manager CVC, has agreed to acquire a 49.9% stake in ECO, Singapore’s leading hazardous waste management company (by market share, range of service offerings & treatment and incineration capacity), from Séché Environnement (who will retain a 50.1% share). This transaction marks CVC DIF’s inaugural investment in Asia. The investment in ECO will be made through DIF Infrastructure VII.

ECO is a local market leader with a strong focus on innovation and technology regarding the circular economy that serves a diversified customer base of leading industrial companies benefiting from long term relationships offering the broadest array of hazardous waste management services in Singapore. With a waste processing capacity of 649,000 tonnes per year (“ktpa”), ECO operates 12 waste incinerators (439 ktpa) and four specialized treatment facilities (210 ktpa), including a cementation plant for inorganic waste and a wastewater treatment plant for both organic and inorganic liquid waste. The company operates with a team of over 300 employees and a dedicated fleet of waste collection vehicles.

Gijs Voskuyl, Managing Partner at CVC DIF, said: “ECO’s leading market position, their longstanding and diversified client relationships and the high barriers to entry in the sector make this an interesting investment for DIF Infrastructure VII. Moreover, this investment marks the first investment of CVC DIF in Southeast Asia, on the back of CVC DIF’s global sector relationships and CVC’s widespread local office network in the region. We are delighted to partner with Séché Environnement, a market leader in hazardous waste. Together with Séché Environnement and ECO’s Singapore based management team, we are well-positioned to drive ECO’s growth as a leader in sustainable infrastructure in the region.”

Alvin Lim, Senior Managing Director at CVC Asia, commented: “This acquisition is a pivotal entry point for CVC DIF in Asia. With CVC DIF’s infrastructure sector expertise and CVC Asia’s strong local presence, we are excited to support ECO’s management team, in partnership with Séché Environnement, to further drive ECO’s growth initiatives.”

Maxime Séché, CEO of Séché Environnement, added: “We are delighted to have CVC DIF, a key player in infrastructure investment, as a long-term partner in ECO. Together, we share an ambitious vision for ECO’s future, one that aligns with CVC DIF’s ambition to advancing infrastructure across Asia. The combination of our industrial, financial and strategic expertise provides a strong foundation for ECO’s growth in Southeast Asia.”

The transaction is expected to close in the coming weeks.

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Audax Private Equity Exits EIS

Audax Group

BOSTON and SAN FRANCISCO — Audax Private Equity (“Audax”), a growth-oriented capital partner to middle market companies, announced today it has sold portfolio company EIS (or “the Company”), a value-added distributor of process materials and production supplies used in electrical and electronic applications. Terms of the deal are not disclosed.

Audax Private Equity acquired EIS in 2019 through a carveout of Genuine Parts Company’s Electrical Specialties division. Audax’ thesis was to separate the acquired division into three distinct operating businesses, one of which was EIS.

“I think EIS represents a tremendous growth story and a testament to our Buy & Build strategy,” noted Audax Partner Don Bramley. “We recruited a talented management team, built the corporate infrastructure to support stand-alone operations and acquisitive growth, and worked closely with Glenn and other EIS executives to refine the company’s go-to-market strategy. Through these enhancements, we helped position EIS as a value-add partner with the technical expertise and product portfolio to serve its customers across the OEM and aftermarket value chain.”

During Audax’ hold, EIS grew earnings and accelerated growth through the execution of the firm’s Buy & Build strategy. During Audax’ hold, EIS completed six add-on acquisitions, which added capabilities and expanded the Company’s presence in the aftermarket segment.

“Audax was a collaborative partner who brought deep resources to help us enhance our value proposition to OEMs and expand through acquisition into key aftermarket segments,” noted Glenn Pennycook, CEO of EIS. “Today, EIS is distinguished by our value-added capabilities, product breadth, and expansive service offerings. We believe the foundation is in place to capitalize on ongoing trends of electrification and energy grid evolution.”

“We want to thank Glenn and his leadership team, whose commitment and partnership were critical to EIS’s growth and transformation over the past five years,” added Audax Managing Director Tim Porter. “From the outset, this opportunity was enabled by the depth of portfolio support we could dedicate to the carveout transaction. But the efforts of EIS leadership to formulate and execute on a compelling strategic vision ultimately delivered what we consider to be a great outcome for the company, Audax, and our investors.”

William Blair and J.P. Morgan acted as advisors to Audax and EIS, while Kirkland & Ellis LLP served as legal counsel to Audax.

About

About EIS
Founded in 1946 and headquartered in Atlanta, Georgia, EIS provides process materials to MRO and OEM customers across an array of end markets including Power Generation, Transmission and Distribution, Alternative Energy, E Mobility and Industrial Electronics. With 29 distribution and fabrication locations across North America, EIS services more than 10,000 customers engaged in the manufacture and aftermarket servicing of motors, transformers, utility-scale power generators, wind turbines, and solar panels. For more information, visit www.eis-inc.com or visit the company on LinkedIn.

About Audax Private Equity
Headquartered in Boston, with offices in San Francisco, New York, and London, Audax Private Equity manages three strategies: its Flagship and Origins private equity strategies, seeking control buyouts in the core middle and lower middle markets, respectively, and its Strategic Capital strategy that provides customized equity solutions to PE-backed portfolio companies to help drive continued growth. With approximately $19 billion of assets under management as of June 2024, over 270 employees, and 100-plus investment professionals, Audax has invested in more than 170 platforms and 1,300 add-on acquisitions since its founding in 1999. Through our disciplined Buy & Build approach, across six core industry verticals, Audax seeks to help portfolio companies execute organic and inorganic growth initiatives with the aim of fueling revenue expansion, optimizing operations, and significantly increasing equity value. For more information, visit www.audaxprivateequity.com or follow us on LinkedIn.

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BC Partners Credit Announces Combination with Runway Growth Capital

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  • BC Partners’ credit arm to acquire Runway Growth Capital as a long-term, strategic investment, complementing BC’s existing platform across private lending, opportunistic credit and specialty finance
  • Runway Growth Capital will continue to operate independently and serve as the external investment adviser to Runway Growth Finance, a publicly traded business development company, with the current leadership and investment teams remaining in place
  • Transaction will expand origination channels, enhance investment solutions, and accelerate capital formation and fundraising capabilities as Runway Growth Capital seeks to strengthen the venture ecosystem

Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, and BC Partners Credit, the $8 billion credit arm of BC Partners, an approximately $40 billion AUM alternative investment firm, today announced a definitive agreement whereby BC Partners Credit will acquire Runway.

Following the closing of the transaction, Runway will remain the investment adviser to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth Finance”), a business development company, and other private funds. Runway’s current management team and investment personnel are expected to continue to serve as officers and senior management. Runway Growth Finance will be well positioned to capitalize on a broader range of investment and value creation opportunities with access to BC Partners’ origination capabilities and expansive platform.

Runway Founder and Chief Executive Officer David Spreng commented, “This transaction is expected to deliver increased value for both investors and borrowers in the near- and long-term as we join the BC Partners Credit platform. Our strategic partnership positions Runway to accelerate originations within our ideal investment range of $30-150 million and expand our offerings to both target companies and sponsors. The combination will enhance our capabilities by introducing structured equity preferred investments, asset-based lending, and the ability to operate in new strategies such as equipment leasing, while strengthening our sponsor relationships through fund finance and other fund-level offerings. By combining BC Partners’ resources and scale with our network, expertise and differentiated presence in the market, we believe Runway will deliver more comprehensive financing solutions for a wider range of companies. Moving forward, we expect that our investors will benefit from increased exposure and access to a greater number of investment opportunities, additional diversification and the potential for attractive risk-adjusted returns.”

Ted Goldthorpe, Head of BC Partners Credit, said, “David and the team at Runway have built one of the most well-respected platforms across growth and venture lending. Their solutions are sought after by fast growing companies, and we look forward to building on their momentum. As a virtue of being part of the BC Partners Credit platform, we see many compelling opportunities for Runway to generate additional origination activities, optimize its capital structure and create value for investors and borrowers. Likewise, the acquisition is quite strategic for BC Partners Credit, as we expand our offerings through a robust suite of financing solutions to all stakeholders. We will continue to accelerate our growth trajectory, establishing BC Partners Credit as a best-in-class, fully diversified credit manager, serving a multi-trillion-dollar market with strong tailwinds.”

Transaction Timing

The closing of the transaction, which is expected to occur in the fourth quarter of 2024, is subject to customary closing conditions, including approval of a new investment advisory agreement with Runway, by Runway Growth Finance’s stockholders, the terms of which are expected to remain the same as the existing investment advisory agreement. The Runway Growth Finance Board of Directors unanimously recommends that stockholders approve the new investment advisory agreement, under which Runway will continue in its capacity as the company’s investment adviser. Senior management of Runway Growth Capital LLC has agreed to vote their shares in favor of the transaction.

Advisors

Oppenheimer & Co. Inc. is acting as exclusive financial advisor to Runway Growth Capital LLC. Wachtell, Lipton, Rosen & Katz is acting as legal counsel to Runway Growth Capital LLC and Eversheds Sutherland (US) LLP is acting as legal counsel to the independent directors of Runway Growth Finance. Simpson Thacher & Bartlett LLP is acting as legal counsel to BC Partners.

About Runway Growth Capital LLC

Runway Growth Capital LLC is the investment adviser to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and other private funds, which are lenders of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, these funds provide senior term loans of a target of $30 million to $150 million to fast-growing companies based in the United States and Canada. For more information on Runway Growth Capital LLC and its platform, please visit www.runwaygrowth.com.

About Runway Growth Finance Corp.

Runway Growth Finance is a growing specialty finance company focused on providing flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity. Runway Growth Finance is a closed-end investment fund that has elected to be regulated as a business development company under the Investment Company Act of 1940. Runway Growth Finance is externally managed by Runway Growth Capital LLC, an established registered investment adviser that was formed in 2015 and led by industry veteran David Spreng. For more information, please visit www.runwaygrowth.com.

About BC Partners & BC Partners Credit

BC Partners is a leading international investment firm in private equity, private debt, and real estate strategies. BC Partners Credit was launched in February 2017, with a focus on identifying attractive credit opportunities in any market environment, often in complex market segments. The platform leverages the broader firm’s deep industry and operating resources to provide flexible financing solutions to middle-market companies across Business Services, Industrials, Healthcare and other select sectors. For further information, visit www.bcpartners.com/credit-strategy.

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