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Altor advances AI leadership through a strategic partnership with WovenLight

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Altor and WovenLight have entered into a strategic partnership to drive artificial intelligence (AI) in Altor as a firm and amongst its portfolio companies. The partnership is a core part of Altor’s ambition to play a leading role in value creation through AI following its successful investment in Silo AI, sold to AMD in Europe’s largest AI exit to date.

WovenLight was established to unlock superior performance in private markets by reimagining value creation capabilities through a differentiated “co-sponsorship” business model. With a focus on the private equity industry, WovenLight leverages its expertise to enhance the value creation plan and strengthen the investment thesis by operationalising AI within portfolio assets.

By partnering with WovenLight, Altor adds another layer to its long legacy of leading business transformations. WovenLight will act as an AI transformation partner to Altor and its portfolio companies through joint value creation initiatives. The collaboration already has several live projects, including in CCM Hockey and Svea Solar. Looking ahead, Altor and WovenLight will continue to identify initiatives to drive value creation by applying WovenLight’s know-how and AI capabilities to leverage both firms’ combined resources for greater results.

“We are excited to bring WovenLight on board as an AI transformation partner. Their expertise will help us accelerate our work to future-proof businesses. Value creation is at the core of what we do – it’s how we help companies win. Assisting companies through the AI transition will be one of the most important themes for private equity in the coming years,” said Paal Weberg, Managing Partner at Altor.

“We looked for the best experts in the industry and this is what we found in WovenLight. We are now, when adding WovenLight’s exceptional talent to our internal AI capabilities, taking a leading position in the industry with our technology-driven approach to value creation,” said Mattias Holmström, Partner and Head of the Tech Sector at Altor.

“I’m delighted to partner with Altor given their long-standing track record of helping build outstanding companies and delivering premium returns. We believe that working together systematically pre and post deal to assess and implement performance improvement through the use of data and AI represents the next generation in private equity value creation. Together we can help build purposeful and resilient businesses with the goals of outperformance and continuing to deliver compelling returns. Our approach brings together complementary skillsets and clear alignment of interest”, said Simon Williams, Partner and Founder of WovenLight.

About Altor

Since inception, the family of Altor funds has raised more than EUR 12 billion in total commitments. The funds have invested in more than 100 companies. The investments have been made in medium- sized companies predominantly in Nordic and DACH with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Silo AI, FLSmidth, Meltwater, Marshall, CCM and Mandatum.

About WovenLight

WovenLight is a technology and private equity investing company with a differentiated “co-sponsorship” business model, delivering sophisticated data analytics and artificial intelligence to improve performance in private equity portfolio companies, while deploying capital alongside private equity firms into these businesses. WovenLight was founded by Simon Williams, who previously co- founded QuantumBlack, a machine learning and data sciences consulting firm launched in 2009 and acquired by McKinsey & Company in 2015. Beginning in 2023, WovenLight has partnered with Tetragon Financial Group Limited and its private equity business, Banyan Square Partners.

Press contact

Karin Åström

Head of Communications

karin.astrom@altor.com

+46 707 64 86 59

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Ipsum boosts its Power division with newest acquisition

IK Partners

London, UK – Specialist engineering services provider, Ipsum, has announced its acquisition of RJ Power, a leading provider of high voltage electrical services.

The addition will complement Ipsum’s existing capabilities in connections, asset installation and replacement, and maintenance of high voltage electrical infrastructure. The acquisition expands the business’ footprint in and around the English capital, as well as in the North and Bristol – a critical step in its growth.

Andrew Cowan, CEO at Ipsum, said: “It is a pivotal and exciting time for Ipsum as we continue to grow from strength to strength. The acquisition of RJ Power represents a major milestone in our journey, enabling us to expand our presence into London and the South-East.

“As businesses across the UK intensify their focus on Net Zero ambitions, Ipsum remains dedicated to providing the highest standards of safety and exceptional customer service. We are fully committed to mobilising the right resources and expertise to support our customers in achieving their goals for sustainable resilient assets, while ensuring health, safety, quality and customer satisfaction.”

Andrew Pierce, Managing Director of RJ Power, said: “We’re excited to partner with Ipsum, ushering in a dynamic new era for our business, employees, clients, and partners. This acquisition is a testament to our team’s commitment and effort, and it paves the way for significant growth, fresh innovation, and added value for those we serve. United by a common vision, we’re eager to reach new heights together and create even more success in the future.”

Ipsum is a leading provider of engineering services in the Power, Water, Infrastructure and Telecoms sectors. It works in partnership with customers across regulated and non-regulated environments to optimise asset performance, supporting the security and resilience of critical networks.

It utilises a data-driven approach and technologically enhanced methodologies such as no-dig and trenchless technologies to provide a quicker, greener, and more cost-efficient delivery of engineering, maintenance and repair services, Ipsum employs over 1,000 employees and operates throughout the UK.

The transaction was advised by the sell side corporate finance advisers Grant Thornton.

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Bain Capital and 11North Partners Acquire Portfolio of Open-Air Lifestyle Retail Centers in Oklahoma City

BainCapital

Classen Curve - Night Aerial

BOSTON AND NEW YORK – June 25, 2025 – Bain Capital and 11North Partners (“11North”), a retail-focused investment platform, today announced the acquisition of three open-air, lifestyle retail centers in Oklahoma City for approximately $212 million.  The private transaction was completed via an exclusive joint venture between Bain Capital Real Estate and 11North that focuses on acquiring and operating open-air retail centers throughout the U.S. and Canada.

Competitively located in the affluent and growing Nichols Hills submarket of Oklahoma City, the portfolio includes Nichols Hills Plaza, The Triangle at Classen Curve, and Classen Curve, which together comprise  nearly 40 acres of high-performing open-air lifestyle centers with occupancy rates exceeding 97%.  The properties are recognized as the go-to choice for national retailers seeking to enter the market and are among the most frequented neighborhood centers in the state.  The three centers are anchored by Whole Foods and Trader Joe’s and complemented by more than 50 unique-to-market tenants including Lululemon, Warby Parker, West Elm, Anthropologie, Sephora, and Kendra Scott, the portfolio benefits from high traffic volumes and enjoys proximity to the two largest private employers in the city – Integris Baptist Medical Center and Chesapeake Energy Headquarters.

Bain Capital Real Estate and 11North, founded by CEO Brian Harper, a 25-year real estate industry veteran with deep retail experience, formed a strategic joint venture in April 2024 to acquire open-air retail assets with a high concentration of necessity-based tenants.  At 11North, Mr. Harper is joined by several senior executives from RPT Realty, who have a long track record of working as a team to create value and transform assets.

“We believe the market opportunity today represents a compelling time to be investing in open-retail centers, an asset class which has proven resilient through multiple economic cycles and continues to benefit from attractive, long-term fundamentals, a convenience-oriented and necessity-driven consumer, and strong retail sales and tenant demand,” said Mr. Harper.  “As one of the most dominant, highest quality assets in the region, the acquisition of these three trophy assets is representative of our platform’s differentiated sourcing capabilities and deep industry relationships.  Together with the partnership and support of our partners at Bain Capital, along with our global investors, we are well-positioned to capitalize on the many opportunities ahead of us as we seek to create a high-quality portfolio of scale.”

“This portfolio’s combination of national retailers and superior demographics strongly aligns with our strategy of investing in well-located, open-air properties that serve as essential retail centers in the communities where people live and work,” said Martha Kelley, a Managing Director at Bain Capital Real Estate.  “Through Bain Capital’s more than 40 years of investing in the consumer and retail sector and our collaborative partnership with Brian and the 11North team, we have created a differentiated platform that is well-capitalized to seize the compelling open-air retail opportunity and create value for our trusted investors.”

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About Bain Capital Real Estate
Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested and committed over $9 billion of equity across multiple sectors. Bain Capital Real Estate focuses on assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate’s strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm’s global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities. Bain Capital is one of the world’s leading private investment firms with approximately $185 billion of assets under management. For more information, visit https://www.baincapitalrealestate.com.

About 11North Partners 
11North Partners is a real estate investment firm focused on curating a portfolio of retail investments diversified across markets and product types. With a focus on the intersection of superior performance and bold vision, the 11North team is dedicated to redefining the traditional approach to retail real estate.

The team’s combination of deep industry expertise, retailer and owner relationships, and blue-chip institutional partners provides unique insight into the ever-evolving retail landscape and unparalleled access to deal flow. 11North seeks to deliver attractive risk-adjusted returns through unlocking value across retail verticals including real estate ownership, debt and operating company investment. For more information, visit https://www.11northpartners.com.

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Woodside Completes Louisiana LNG Sell-Down to Stonepeak

Stonepeak

Woodside is pleased to announce the completion of the sell-down of a 40% interest in Louisiana LNG Infrastructure LLC to Stonepeak, a leading global investment firm specialising in infrastructure and real assets.

The completion follows Woodside’s announcement on 7 April 2025 that it had signed an agreement with Stonepeak, enhancing Louisiana LNG economics and strengthening Woodside’s near-term capacity for shareholder returns.1

Under the transaction, Stonepeak will provide US$5.7 billion towards the expected capital expenditure for the foundation development of Louisiana LNG on an accelerated basis, contributing 75% of project capital expenditure in both 2025 and 2026.

The closing payment of approximately US$1.9 billion received by Woodside reflects Stonepeak’s 75% share of capex funding incurred since the effective date of 1 January 2025.

Woodside CEO Meg O’Neill said Stonepeak would add further value to the Louisiana LNG Project.

“Our partnership with Stonepeak reflects the attractiveness of Louisiana LNG and was a key milestone towards achieving a successful final investment decision. Stonepeak is a high-quality partner, with extensive investment experience across US gas and LNG infrastructure.

“The accelerated capital contribution from Stonepeak enhances Louisiana LNG project returns and strengthens our capacity for shareholder returns ahead of first cargo from the Scarborough Energy Project in Western Australia, targeted for the second half of 2026.

“This transaction underscores Woodside’s commitment to delivering value to its shareholders and highlights the strategic importance of the Louisiana LNG project in the global energy landscape.

Stonepeak Senior Managing Director and Head of US Private Equity James Wyper said the company was pleased to be working with Woodside.

“Louisiana LNG will be a timely and strategic addition to the US LNG export landscape as the world’s
demand for cleaner, more flexible and more affordable energy continues to grow.

“We look forward to contributing our expertise and capital to the construction and future operation of Louisiana LNG and are highly energised to continue supporting the development of critical North American LNG infrastructure with global impact.”

About Stonepeak

Stonepeak is a leading alternative investment firm specialising in infrastructure and real assets with approximately US$73 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns.

Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, DC, London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit www.stonepeak.com.

About Louisiana LNG

Louisiana LNG is a fully permitted LNG project located near Lake Charles, Louisiana, with total permitted capacity of 27.6 million tonnes per annum (Mtpa) across five trains.

The approved foundation project includes three trains with a combined capacity of 16.5 Mtpa and achieved a successful final investment decision in April 2025.

Bechtel is the engineering, procurement and construction contractor, under a lump sum, turnkey agreement. The facility utilises the Chart IPSMR® liquefaction technology and Baker Hughes LM6000PF+ gas turbines.

Woodside Contacts

Investors
Sarah Peyman
M: +61 457 513 249
E: investor@woodside.com

Media
Dan Pagoda
M: +61 482 675 731
E: dan.pagoda@woodside.com

Stonepeak Contacts

Media
Kate Beers /
Maya Brounstein
corporatecomms@stonepeak.com
+1 (646) 540-5225

Jack Gordon
jack.gordon@sodali.com
+61 478 060 362

1 See “Woodside announces Louisiana LNG partnership with Stonepeak” announced on 7 April 2025 for details.

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Platinum Equity to Acquire Solo, European Provider of Personalizable Products and Apparel

Platinum

LOS ANGELES (June 24, 2025) – Platinum Equity announced today it has entered into exclusive negotiations to acquire Solo Group (“Solo”), a European market leader in business-to-business personalizable products, from company founder Alain Milgrom and management.

Financial terms were not disclosed. The potential transaction remains subject to the information and consultation processes of the relevant employee representative bodies as well as customary closing conditions, including regulatory approvals.

Solo, founded in 1991 and headquartered in Paris, has established a leading position in the European market for personalizable products, driven in part by the 2022 acquisition of Dutch full-service supplier midocean, which created a true one-stop-shop solution for both hard goods and textiles.

Solo’s portfolio includes wearables, textile accessories and a wide range of hard good products such as drinkware, bags and luggage, stationery and tech accessories. The company serves more than 19,000 customers, including resellers, specialists and distributors.

 

“Solo’s strong foundation and entrepreneurial heritage make it an excellent fit for our hands-on approach to value creation”

Louis Samson, Co-President, Platinum Equity

 “Solo’s strong foundation and entrepreneurial heritage make it an excellent fit for our hands-on approach to value creation,” said Platinum Equity Co-President Louis Samson. “We have great confidence in the company’s leadership team and fundamentals. We believe that our M&A resources and operations capabilities can help the company accelerate its growth and foster new innovative solutions for an increasingly complex personalized products market.”

“This deal provides another example of how Platinum can craft transaction solutions even in a challenging time for buyouts globally,” Samson added.

Solo’s management team will retain a stake in the business.

“Solo aims to shape the future of personalization. One that is not only high performing but also sustainable and designed to meet the challenges of today and anticipate the needs of tomorrow,” said Solo CEO Audélia Krief, who will continue to lead the business following the ownership transition. “This requires a continuous investment in innovation, service and automation that is now made possible through the financial sponsorship of Platinum Equity.”

Stephen Gibson, COO of Solo and former CEO of midocean, added: “The European market for personalizable products is developing fast, driving consolidation towards full-service suppliers of both hard goods and textiles. In our quest to accelerate this development in Europe, we are extremely excited to have attracted Platinum Equity to support our ambition.”

Solo distinguishes itself through its global procurement, product quality, fast fulfilment and advanced in-house customization capabilities, offering made-to-order solutions for both garments and hard goods, with a team of 1,600 employees across Europe and Asia and a robust pan-European distribution network.

“Solo’s integrated model, combining distribution scale and on-demand printing, delivers compelling advantages in cost, product breadth, inventory availability and speed to Solo and its B2B customers,” said Malik Vorderwuelbecke, Managing Director at Platinum Equity. “In a highly fragmented market, these strengths position the company as an attractive platform for organic growth and strategic acquisitions. We will look to expand geographically and into new product categories.”

Latham & Watkins LLP is serving as Platinum Equity’s legal advisor.

About Platinum Equity

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

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Vision Innovation Partners Acquires Eye Care of Delaware

Gryphon Investors
Annapolis, Maryland – 

Strengthens Eye Care Platform’s Services in Mid-Atlantic Region

Vision Innovation Partners (“VIP”), a leading Mid-Atlantic eye care platform with 68 locations, today announced that it has acquired Eye Care of Delaware, a provider of eye surgery and related treatments in the Mid-Atlantic area. This acquisition marks VIP’s 26th add-on since its founding in 2017 and strengthens its growing network of ophthalmology practices.

Founded in 1997, Eye Care of Delaware offers eye surgery and related treatments to patients in Delaware and surrounding states. Its highly trained and experienced doctors use state-of-the-art technology to perform a variety of procedures including cataract surgery, cornea & glaucoma treatments, refractive surgery, eyelid reshaping, and retina care. Led by Medical Director Dr. Jeffrey R. Boyd, M.D., Eye Care of Delaware includes one ophthalmologist and two optometrists, along with qualified support staff who coordinate patient care.

Chris Moore, CEO of Vision Innovation Partners, said, “We are delighted to welcome the team at Eye Care of Delaware to the VIP platform. VIP seeks to align with practices that want to grow and that have a great reputation for delivering superior outcomes for patients.  Dr. Boyd and his team will be a great fit as we continue to build a premier vision care platform with a mission of offering the latest technology and treatments that serve our purpose of protecting and restoring vision in patients.”

“Eye Care of Delaware is thrilled to become part of the VIP family, which shares our goal of providing advanced treatment and solutions that address our patients’ critical vision problems in a caring environment, while supporting our growth in the region. Our patients, team members and community will benefit from VIP’s additional strategic resources, business expertise, and shared vision for excellence,” said Dr. Boyd.

VIP is a portfolio company of Gryphon Investors, a leading middle market private investment firm.

# # #

About Vision Innovation Partners

Founded in 2017 and headquartered in Annapolis, MD, VIP supports the Mid-Atlantic’s premier ophthalmology practices and surgery centers through good people, expert leadership, the sharing of best practices and the backing of Gryphon Investors, a leading middle-market private equity firm. VIP’s managed practices offer a comprehensive range of services, including routine eye exams and LASIK surgery as well as treatment for cataracts, glaucoma, macular degeneration, and other ocular diseases. The Company is among the region’s leading managed services platforms for ophthalmology providers, with over 150 providers and a footprint that includes 68 locations including 12 surgery centers across Maryland, Washington D.C., Virginia, Pennsylvania and now, Delaware.

About Gryphon Investors

Gryphon Investors is a leading middle-market private investment firm focused on profitably growing and competitively advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, Software, and Technology Solutions & Services sectors. With more than $10 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon’s highly differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance, and accounting expertise. Gryphon’s three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $500 million per portfolio company. The Junior Capital strategy targets investments of $10 million to $25 million in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon’s targeted investment sectors.

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EQT exits property remediation specialist Recover

eqt

pexels-nicobecker-5667392

  • Following EQT’s acquisition in 2020, Recover has invested in its digital capabilities while divesting non-core business units to sharpen focus on water, fire and other core property remediation services

Recover, a leading Scandinavian property remediation specialist, today announced a change of ownership from EQT VIII (“EQT”) and minority investors to industrial investment company Pangea AS.

Recover, which employs approximately 1,730 people across the Nordics, plays a critical role in providing essential restoration services following water, fire, and environmental damage. EQT acquired the Company in early 2020 and despite the challenges presented by the COVID-19 pandemic, Recover has undergone a significant transformation. The Company has been future-proofed through strategic investments in digitization, including a new ERP and FSM system, and has sharpened its focus by divesting non-core business units.

Åge Landro, CEO of Pangea and Chair of Recover, commented: “Recover is a market-leading platform with strong operations and highly dedicated employees. We are excited to partner with the Company and look forward to supporting its continued growth journey across the Nordics and beyond.”

Juho Frilander, Managing Director in the EQT Private Equity advisory team, added: “We would like to thank the management team and all employees at Recover for their hard work and commitment over the past years. The transformation of the business has been impressive and Recover is now well-positioned to thrive in the years to come.”

The transaction is subject to customary conditions and regulatory approvals.

Contact
EQT Press Office, press@eqtpartners.com

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About EQT
EQT is a purpose-driven global investment organization with EUR 273 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2025, within 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 Pangea
Pangea AS is an investment company focused on fostering sustainable growth by partnering with businesses across various industries and sectors. Its mission is to drive long-term value and success through strategic investments. Pangea is headquartered in Norway, with operations in 8 countries.  Pangea takes an active ownership approach and collaborates closely with management teams and employees.

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Gimv invests in Alpine to support its growth ambition and enhance its leading position in consumer hearing protection

GIMV

Gimv acquires a majority stake in Alpine, one of the leading international consumer brands providing passive hearing protection solutions, from Vendis Capital, the founders and management team. The management team reinvests part of its proceeds and teams up with Gimv to realize the next growth chapter of the company.

Alpine (www.alpine.nl), founded in 1994 and headquartered in the Netherlands, is a leading international brand in passive, premium consumer hearing protection. The company operates in more than 65 countries worldwide, benefiting from strong global omni-channel capabilities.  Alpine offers an extensive product portfolio of high-quality earplugs and earmuffs, designed to meet the evolving needs of consumers worldwide. Backed by a strong management team with a proven track record, Alpine emphasizes ESG principles, demonstrated by its recently acquired B-Corp status and focus on reusable products.

The passive hearing solution market is growing rapidly, with Alpine standing out as one of the global leaders in a fragmented landscape. Its strong international presence and well-executed multi-channel strategy – spanning OTC/retail, events, and e-commerce – position the company for sustained long-term growth. The company enjoys attractive margins and strong cash conversion, driven by scale advantage and premiumization.

As a premium, purpose driven consumer brand Alpine perfectly fits Gimv Consumer’s investment focus. The hearing protection market is benefiting from powerful underlying trends, including increased health awareness, a growing demand for more premium reusable alternatives, and a heightened focus on ESG. As consumers shift away from disposable products toward innovative, sustainable solutions, Alpine is well-positioned to lead this transformation. The partnership reflects Gimv’s commitment to supporting consumer businesses that promote long-term consumer well-being while driving positive environmental and social impact.

Patrick Franken and Jelle Assink, Partner and Principal in Gimv’s Consumer team, declare: “We are very excited to partner with the Alpine team and support them on their mission to shape the future of hearing protection. As the world grows louder, consumers are becoming increasingly aware of the importance of protecting their hearing. With its strong brand, an innovative product portfolio and broad international multi-channel reach, Alpine is uniquely positioned to elevate the global consumer awareness and lead the shift toward reusable hearing solutions. Alpine can count on Gimv on their growth journey, strengthening Alpine’s presence in key markets and exploring new opportunities for sustainable, long-term growth.”

Koen Bouckaert, Managing Partner Gimv Consumer, declares: “The Consumer investment in Alpine is another proof point that Gimv is willing and able to deploy larger investment tickets in fast-growing, more mature companies, supported by long-term fundamental trends and enabled by a seasoned management team.” 

Arthur van Keeken, CEO of Alpine, declares: “We are delighted to be partnering with Gimv, united by a clear ambition and vision. Over the past years, Alpine has firmly strengthened its position as a leading player in the fast-growing premium hearing protection market. At the same time, we have transformed our internal organization into a professional and sustainable growth platform. Thanks to this strong foundation, we are fully ready for the next step — and Gimv is the perfect fit. With Gimv by our side, we are confident that we can further accelerate our growth and mission.”

The size of this investment is in line with Gimv’s strategic ambition to increase the average ticket size of its investments. Alpine directly enters the top 5 participations in Gimv’s current portfolio. No further financial details on this transaction are being disclosed. The transaction remains subject to the works council advisory procedure.

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Mechanix Wear Acquires Kinco

Gryphon Investors

Trusted Enthusiast Brands Join to Accelerate Growth

Mechanix Wear®, a leading designer and manufacturer of high-performance work gloves, announced today it has acquired Kinco® (or the “Company”), a 50-year-old, family-owned maker of high-quality gloves. Mechanix Wear is a portfolio company of leading middle-market private investment firm Gryphon Investors. Terms of the transaction were not disclosed.

Founded in 1975, Kinco manufactures and distributes premium gloves used across farm, outdoor, and industrial applications, with an enthusiast following in the ski and snowboard industry. Today, the Company’s products are primarily sold through retail partners and direct-to-consumer channels. Travis Kindler, son of the Company’s founders and current owner, will remain at Kinco as President, reporting to Mechanix Wear CEO Jesse Spungin, and will retain a minority stake. The acquisition includes Welch®, a work and safety suspender business owned by Kinco.

Mr. Spungin said, “We are delighted to join forces with Travis and the Kinco team. As leading protective apparel brands with distinguished family histories, our companies share a track record of quality and durability, long-lasting customer relationships, and a growth mindset. Kinco is a natural complement to the Mechanix Wear platform and will broaden our product portfolio and channel footprint, expanding upon our mission to deliver trusted hand protection.”

This transaction represents the second add-on acquisition for the Mechanix Wear platform, which previously acquired Chicago Protective Apparel.

Mr. Kindler commented, “We are thrilled to join the iconic Mechanix Wear brand and could not envision a better home for the Kinco business. Our employees and customers will benefit from the scale and broader resources of a larger company, and with Gryphon’s capital and operational resources behind us, we will invest in growth, innovation, and customer satisfaction to ensure a long-lasting legacy for the business we have been honored to build.”

EC M&A acted as financial advisor and Kirkland & Ellis acted as legal advisor to Gryphon. Adaptive Capital Partners acted as financial advisor and Petersen + Landis acted as legal advisor to Kinco.

# # #

About Mechanix Wear®
Founded in 1991, Mechanix Wear is a leader in automotive, construction, industrial, and tactical hand protection and protective apparel. Since the debut of The Original® work glove at the 1991 Daytona 500, Mechanix Wear has continued to create products that deliver superior performance, quality, and reliability to a growing following of passionate consumers. Headquartered in Valencia, California, the company sells its products in more than 20,000 retail store locations across more than 70 countries and through industrial distributors. With a mission to look beyond conventional ideas and continually innovate the most advanced products for working hands, Mechanix Wear has built a reputation as The Tool That Fits Like a Glove®.

About Gryphon Investors

Gryphon Investors is a leading middle-market private investment firm focused on profitably growing and competitively advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, Software, and Technology Solutions & Services sectors. With more than $10 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon’s highly differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance, and accounting expertise. Gryphon’s three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $500 million per portfolio company. The Junior Capital strategy targets investments of $10 million to $25 million in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon’s targeted investment sectors.

Contact:

Lambert by LLYC

Caroline Luz

203-570-6462

cluz@lambert.com

or

Jennifer Hurson

845-507-0571

jhurson@lambert.com

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Ipsum expands into London with new acquisition

IK Partners

London, UK – Specialist engineering services provider, Ipsum, has announced its acquisition of London’s leading plumbing, pump repair and drainage specialists, Aquaflow Drainage Services Ltd.

The addition will complement Ipsum’s existing water and wastewater asset maintenance and repair capabilities. It will also see the introduction of new specialist plumbing, pump installation and repair, and chemical dosing capabilities. The acquisition will also expand the business’ footprint in and around the English capital, a critical step in its growth.

Andrew Cowan, CEO at Ipsum, said: “Over the last eight years, Ipsum has been on a growth journey and the acquisition of Aquaflow marks a significant milestone. Our expansion into London, a notoriously concentrated market in the sector, will open up opportunities for us while simultaneously providing Aquaflow’s existing customer-base with a broader range of maintenance and repair services.

“We are committed to working with Keith Borrett and the rest of the Aquaflow team to ensure a seamless transition and continue supporting our valued customers and clients.”

Keith Borrett, Managing Director at Aquaflow Drainage Services Ltd, said: “We are thrilled to join forces with Ipsum, marking an exciting new chapter for our company, staff, customers and suppliers. This acquisition not only validates the hard work and dedication of our entire team, but also opens up tremendous opportunities for growth, innovation, and enhanced value for our customers. Together, we look forward to building on our shared vision and achieving even greater success.”

Ipsum is a leading provider of engineering services in the Power, Water, Infrastructure and Telecoms sectors. It works in partnership with customers across regulated and non-regulated environments to optimise asset performance, supporting the security and resilience of critical networks.

It utilises a data-driven approach and technologically enhanced methodologies such as no-dig and trenchless technologies to provide a quicker, greener, and more cost-efficient delivery of engineering, maintenance and repair services, Ipsum employes over 1,000 people and operates throughout the UK.

The transaction was advised by the sell side by corporate finance advisers, Cleveland Scott.

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