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CapMan Growth invests in Finnish fitness chain Kuntokeskus Liikku

Capman

CapMan Growth invests in Finnish fitness chain Kuntokeskus Liikku

CapMan Growth Equity Fund III has signed an agreement on a significant investment in Kuntokeskus Liikku, a gym chain known for its high-quality facilities and excellent value for money. The investment will further strengthen the company’s position as a market leader and support the continued execution of its growth strategy.

Liikku is one of Finland’s leading fitness chains, with more than 70 locations across the country serving nearly 90,000 members. The company’s concept is to offer high-quality self-service gyms at an exceptionally competitive price point which, combined with strong operational efficiency, provides a solid foundation for profitable growth.

The company has grown rapidly in recent years and demonstrated its ability to build a profitable business. Its growth strategy centres on opening new locations in multiple cities each year. The aim is to support the wellbeing of people across Finland by serving an ever broader customer base and meeting the growing demand for high-quality, easily accessible fitness services nationwide.

“Kuntokeskus Liikku represents a growth company that combines strong leadership, a clear strategy and an efficient business model,” says Antti Kummu, Managing Partner at CapMan Growth. “The Liikku team has built a successful player in the Finnish fitness market, with a concept, operational efficiency and growth prospects that make it an attractive investment opportunity. We are excited to support the company’s ambitious growth plans and further strengthen its market position.”

Kuntokeskus Liikku is led by its founder and CEO, Johanna Riihijärvi.

“I am very pleased that we are strengthening Kuntokeskus Liikku’s ownership base with the expertise and experience of CapMan Growth. With CapMan, we gain excellent support for the continued execution of our ambitious growth strategy, and we believe that CapMan’s experience in the commercial real estate market will also support Liikku’s growth as finding new premises becomes increasingly easier,” says Riihijärvi.

The company’s main shareholder is COR Group, a long-time partner of CapMan Growth. COR Group is a Finnish health and wellness conglomerate, known in its sector for active ownership and long-term value creation.

“Kuntokeskus Liikku has been part of COR Group’s growth strategy since 2016. We aim to achieve clear market leadership in the Finnish fitness sector, and to support growth and secure financing, we carried out an ownership restructuring. As a health and wellness group, we want to contribute to improving Finns’ muscular fitness and overall wellbeing on a significant scale,” says Ilari Kerola, one of COR Group’s founders and Chairperson of Liikku’s Board.

The investment is the sixth by the CapMan Growth Equity Fund III.

For more information:

Antti Kummu, Managing Partner, CapMan Growth, +358 50 432 4486

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and 7.2 billion euros in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, real asset debt, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London, Luxembourg, and Düsseldorf. We are listed on Nasdaq Helsinki since 2001. www.capman.com.

About Kuntokeskus Liikku

Kuntokeskus Liikku is a Finnish fitness centre chain with more than 70 locations across Finland. Liikku’s mission is to lower the threshold for starting gym training and to offer high-quality, fresh training facilities for people of all fitness levels at a reasonable price.

At Liikku, the best workout is the one that gets done. Regardless of your goals or starting point, every workout is equally valuable and deserves a motivating, supportive and relaxed training environment. The gyms are designed to ensure a smooth and enjoyable workout experience on every visit. Thanks to spacious and airy premises, you can train comfortably at your own pace, even during peak hours. A versatile range of equipment, free weights and comprehensive warm-up facilities serve both experienced gym-goers and beginners alike.

You can visit Liikku for a tour Monday to Wednesday from 4 pm to 7 pm. For more information, please visit www.liikku.fi/english.  

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CapMan Infra’s portfolio company Koiviston Auto Group completes EUR 300 million refinancing

Capman

CapMan Infra’s portfolio company Koiviston Auto Group completes EUR 300 million refinancing

CapMan Infra’s portfolio company Koiviston Auto Group, Finland’s largest bus operator, has completed an approximately EUR 300 million refinancing. The transaction consists of the refinancing of the Group’s existing senior debt and secures long-term growth financing to support the Group’s continued investments in its rapidly expanding electric bus fleet.

The financing package has been provided by a group of lenders consisting of Nord/LB, ABN AMRO, Edmond de Rothschild, LBP AM and Siemens. The transaction strengthens Koiviston Auto’s funding base and provides significant flexibility to execute the company’s growth strategy focused on sustainable public transportation.

CapMan Nordic Infrastructure I acquired Koiviston Auto in December 2021 to support its expansion and operational development. The Group now serves communities nationwide and is at the forefront of the transition to zero-emission public transport in Finland. It operates approximately 300 electric buses, with more than 50 additional electric buses expected to be deployed into traffic during 2026, further accelerating the electrification of its fleet.

“The successful completion of this refinancing marks an important milestone for Koiviston Auto Group,” says Henrik Mikkola, CEO of Koiviston Auto Group. “The strong support from a diversified group of high-quality lenders underlines the robustness of our business and our long-term strategy. This financing allows us to continue investing in electric mobility and to provide reliable, sustainable and high-quality public transport services across Finland.”

“Koiviston Auto Group plays a key role in the green transition of public transportation in Finland,” comments Ville Poukka, Managing Partner at CapMan Infra. “This refinancing significantly strengthens the company’s financial platform and enables continued investments into electric buses at scale. We are pleased to see strong lender confidence in the company’s strategy, operational performance and long-term growth prospects.”

For more information:

Ville Poukka, Managing Partner, CapMan Infra, +358 50 572 9120

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and 7.2 billion euros in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, real asset debt, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London, Luxembourg, and Düsseldorf. We are listed on Nasdaq Helsinki since 2001. www.capman.com.

About Koiviston Auto Group

Koiviston Auto Group is Finland’s largest bus operator, providing public city and intercity bus transport nationwide. The Group employs approximately 2,800 people and is a leading player in the electrification of public transport in Finland.

Koiviston Auto Group operates one of the country’s largest electric bus fleets and continues to invest actively in zero-emission solutions, supporting the transition towards more sustainable public transportation. www.koivistonauto.fi

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Carlyle provides a structured capital solution to Peloton Computer Enterprises to support growth

Carlyle

New York, NY and Calgary, AB — 23 February 2026 — Global investment firm Carlyle (NASDAQ: CG) today announced that its Global Credit platform has provided a structured capital solution to Peloton Computer Enterprises Ltd. (“Peloton” or the “Company”), a leading provider of integrated energy data management software, to support ongoing investment in the Company’s platform and long-term growth strategy.

Founded in 1991, Peloton is a leading vertical software provider, delivering integrated solutions that support energy companies’ core proprietary data and workflows across the well, production, and land lifecycles. The Company serves as a system of record for its deeply embedded customers, built on trusted performance and extensive vertical expertise focused on the oil and gas industry. As a category leader in a highly specialized market, Peloton is well positioned to support customers’ evolving data and analytics needs, with AI representing a key forward growth driver in enhancing operational insight and decision-making.

This investment provides Peloton with long-term, flexible capital to support continued investment in the Company’s platform and analytics capabilities, while enabling the management team to accelerate strategic initiatives, including M&A, and support the business’s next phase of growth.

In connection with this transaction, Silver Lake, TriWest, and HarbourVest, who made a strategic investment in Peloton in 2017, will be exiting shareholders, and Glen Gray, co-founder and Chief Executive Officer of Peloton, will continue to lead the Company during this next phase of growth.

Glen Gray said: “We are excited to partner with Carlyle as we continue to execute on our long-term growth strategy. Carlyle’s capital, deep sector expertise, and integrated global platform will enable us to further invest in product innovation, expand our international footprint, and evaluate strategic opportunities that enhance our platform and better serve our loyal customer base.”

Andreas Boye, Partner and Head of Carlyle Credit Opportunities in North America, said: “Peloton is a high-quality vertical software leader with a long history of supporting the oil and gas industry’s most critical operational needs. Drawing on Carlyle’s long-standing global technology and energy franchises, and deep sector insights across software, we were able to structure a capital solution tailored to Peloton’s business and growth objectives. We look forward to partnering with Peloton’s management team to drive its next phase of growth.”

Arjun Shah, a Managing Director on Carlyle’s Technology team, said: “Peloton is a true vertical industry leader, providing a mission-critical offering for its deeply embedded customer base. The Company’s deep domain specialization positions the business exceptionally well for continued growth. This growth-driven investment reflects a truly collaborative effort across Carlyle’s global platform, and we look forward to further leveraging our scale and capabilities to help deliver long-term growth for the business.”

As part of the transaction, Andreas Boye and Arjun Shah will join Peloton’s Board of Directors.

Evercore served as financial advisor and Burnet Duckworth & Palmer and Davis, Polk & Wardwell served as legal advisors to Peloton. Latham & Watkins served as legal advisor to Carlyle.

—

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $477 billion of assets under management as of December 31, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,500 people in 27 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About Peloton 

Peloton is a leading global provider of innovative technology solutions for the energy industry, offering solutions to optimize operations and enhance productivity. With a focus on security, mobility, integration, automation, and real-time monitoring, Peloton powers energy clients to thrive in an ever-evolving landscape. Further information can be found at www.peloton.com.

Media Contacts 

Carlyle:

Charlie Bristow

Tel: +44 (0) 7384 513568

Email: charlie.bristow@carlyle.com

 

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Blackstone Life Sciences Announces a Co-funding Agreement for Acute Myeloid Leukemia

Blackstone

Cambridge, MA – February 23, 2026 —Blackstone Life Sciences (“BXLS”) today announced a research and development funding agreement to advance the clinical development of bleximenib (JNJ-75276617), an investigational oral menin inhibitor, for acute myeloid leukemia (“AML”). AML is the most common type of acute leukemia in adults, yet continues to be extremely challenging to treat, with the lowest survival of all leukemia types.

Johnson & Johnson and funds managed by BXLS will jointly finance a portion of the ongoing and future clinical trials of bleximenib in AML. This is the first time that BXLS and Johnson & Johnson have entered into a co-funding agreement.

“We believe that bleximenib’s promising clinical data, combined with Johnson & Johnson’s deep expertise in hematologic malignancies, create a strong foundation to address critical gaps in patient care,” said Dr. Nicholas Galakatos, Global Head of BXLS. “We are excited by this agreement with Johnson & Johnson, furthering our network of global leaders to accelerate innovation across the life sciences sector.”

“As an aggressive, fast-progressing blood cancer with high relapse rates, there is an urgent need for better, more tolerable treatment options for patients living with AML. Our mission is to help leaders like Johnson & Johnson advance the promise of innovative medicines like bleximenib and bring them to patients across the globe,” added Dr. Ari Brettman, Senior Managing Director, BXLS.

About Bleximenib (JNJ-75276617)
Bleximenib is an investigational oral menin inhibitor being evaluated for the treatment of patients with newly diagnosed and relapsed or refractory AML. It targets a key oncogenic interaction between menin and KMT2A proteins, disrupting a pathway that drives leukemic cell growth in patients with KMT2Agenerearrangements or NPM1genemutations.

Bleximenib is currently being investigated in Phase 1, 2, and 3 clinical trials, either as a monotherapy or in combination with AML-directed therapies to further explore its potential in both relapsed or refractory and newly diagnosed AML settings.

About Acute Myeloid Leukemia (AML)
Acute Myeloid Leukemia (AML) is an aggressive, fast-progressing blood cancer with high relapse rates and especially poor outcomes for older patients or those with high-risk genetic profiles with KMT2A gene rearrangements – highlighting the urgent need for better, more tolerable treatment options.The disease is the most common acute leukemia in adults yet continues to be an extremely challenging blood cancer to treat with the lowest survival rate of all leukemias. AML progresses rapidly and without prompt treatment patients can die within months.

About Blackstone Life Sciences
Blackstone Life Sciences (BXLS) is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, BXLS helps bring to market promising new medicines and medical technologies that improve patients’ lives and currently has $15 billion in assets under management.

CONTACTS

Blackstone
David Vitek
(212) 583-5291
David.Vitek@blackstone.com

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Fluent Commerce receives A$46M from Bain Capital to Accelerate Next Phase of Growth

BainCapital

SYDNEY, February 20, 2026 — Fluent Commerce, a global provider of Order Management Systems (OMS), announces today that it has secured A$46m in new funding from Bain Capital. The investment will support continued, profitable global growth – enabling customers to scale faster with new AI-powered capabilities. The capital will:

●    Fund further “AI with ROI” investments
●    Accelerate customer acquisition
●    Support the roll-out of Fluent Connect (new AI integration platform)
●    Continue expansion into key international markets

Fluent Commerce CEO, Graham Jackson, said: “At Fluent Commerce, our goal is to serve our customers with real-time data to enable them to remove profit leaks and to grow. Whether it’s into a new market or launching a new brand or experience, we provide that decision-making engine for AI-ready commerce operations. This investment from Bain Capital enables us to supercharge our international growth and become the AI powerhouse for global brands.”

Fluent Commerce is dedicated to helping companies optimise inventory, move faster and deliver better customer experiences through its scalable, distributed platform. Customers include global brands such as Prada Group, L’Oreal, Kingfisher, LVMH and JD Sports.

In January, Fluent Commerce launched its new AI-powered integration platform, ‘Fluent Connect’, which enables retailers and brands to connect Fluent Order Management with critical third-party systems, such as payment gateways, carriers and POS systems, in a matter of hours rather than weeks. By dramatically reducing integration complexity and time-to-value, Fluent Connect allows customers to go live faster, scale more easily, and keep pace with ongoing innovation and growth.

This latest funding highlights investor confidence in Fluent’s long-term vision and continued global expansion. Bain Capital, a global private capital investment firm with over $215 billion (USD) in assets under management, continues to demonstrate its commitment to supporting high-growth companies through its latest transaction with Fluent Commerce.

Paul Kennedy, a Partner at Bain Capital said: “We are excited to partner with Fluent Commerce as it accelerates its global expansion. Fluent has built a best-in-class commerce platform guided by a proven management team, a focused customer-first strategy, and technology leadership that has earned the trust of leading global brands. Bain Capital’s conviction in Fluent is grounded in our global technology investing experience which we will continue to apply as we support the company’s ongoing growth.”

This transaction was advised by Neu Capital.

Managing Director from Neu Capital, Cyrus Church said: “Fluent Commerce is a fantastic Australian success story.  It’s been a pleasure arranging this capital as they continue to expand worldwide.”

END

About Fluent Commerce
Fluent Commerce is a global software company focused on inventory availability data management at scale and distributed order management (DOM) for commerce. Fluent Order Management provides accurate, real-time inventory availability across all locations, order orchestration, fulfillment optimization, fulfillment location management, in-store pick-and-pack, customer service, and reporting.
Fluent Commerce works with organizations such as JD Sports, L’Oréal, Prada Group, ALDO Group, LVMH, Dulux and Kingfisher. For more information, visit fluentcommerce.com

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, portfolio companies, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,900 employees, and approximately $215 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

About Neu Capital

Neu Capital is a full-service independent debt advisory firm delivering tailored capital solutions to public and private mid-market companies. Neu Capital arranges billions of dollars of transactions across asset-backed securities, corporate finance and special situation structures.

 

Media Contacts

 Australia

 Stuart Carson

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Apollo Provides $1 Billion Hybrid Capital Solution to Aldar

Apollo logo

Transaction marks Apollo’s fifth investment in Aldar and the region’s largest corporate hybrid private placement 

Builds on Apollo’s long-term strategic partnership with Aldar, with total transactions totalling approximately $2.9 billion to date

Investment to support Aldar’s transformational growth plans and capital structure optimization

NEW YORK, Feb. 20, 2026 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Apollo-managed funds have invested $1 billion in subordinated hybrid notes issued by Aldar Properties PJSC (“Aldar”), a leading UAE based real estate developer and investment manager. The investment builds on Apollo’s long-term strategic partnership with Aldar and represents Apollo’s fifth investment in Aldar since 2022, bringing aggregate commitments to $2.9 billion to date.

Proceeds from the investment are intended to support Aldar’s balance sheet flexibility and strength, as well as its growth agenda, which includes landbank replenishment, expansion of its develop-to-hold portfolio, and strategic acquisitions.

Apollo Partner Jamshid Ehsani said, “Completing our fifth investment with Aldar speaks directly to Apollo’s ability to structure flexible capital solutions that are responsive to the needs of both our corporate clients and our investors. Since our first transaction in 2022, Aldar has gone from strength to strength, with robust performance and portfolio expansion overseen by an experienced management team. This latest investment reflects Apollo’s continued commitment to Abu Dhabi and the broader region.”

Faisal Falaknaz, Group Chief Financial and Sustainability Officer at Aldar, said: “This transaction highlights the strength of our long-standing partnership with Apollo and the continued confidence of major institutional investors in Aldar’s strategy, financial management and growth trajectory. The issuance provides Aldar with long-term, flexible capital that enhances balance sheet resilience and supports our ability to capitalise on attractive opportunities across our core markets. Importantly, it elevates Aldar’s share of stable, recurring income generated by AIP’s high quality, diversified portfolio, which will continue to expand through acquisitions and our substantial develop-to-hold pipeline that is now valued at close to $5 billion.”

The transaction is among the largest-ever foreign direct investments in Abu Dhabi’s private sector and the largest corporate hybrid private placements in the region.

It also marks the latest transaction for Apollo’s High Grade Capital Solutions business, which serves as a capital partner to many leading global companies. Apollo believes its ability to provide customized, long-dated investments is reinforced by the number of its repeat clients, having provided multiple large-scale solutions for Aldar, BP, Sony, Vonovia, Air France and the Adani-backed Mumbai Airport.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2025, Apollo had approximately $938 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo Contacts

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

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

About Aldar

Aldar is the leading real estate developer, manager, and investor in Abu Dhabi, with a growing presence across the United Arab Emirates, the Middle East North Africa, and Europe.

The company has two core business segments, Aldar Development and Aldar Investment.

Aldar Development is a master developer of a 60 million sqm strategic landbank, creating integrated and thriving communities across Abu Dhabi, Dubai, and Ras Al Khaimah’s most desirable destinations. The delivery of Aldar’s developments is managed by Aldar Projects, which is also a key partner of the Abu Dhabi government in delivering housing and infrastructure projects across the UAE’s capital. Internationally, Aldar Development wholly owns UK real estate developer London Square, as well as a majority stake in leading Egyptian real estate development company, SODIC.

Aldar Investment houses a core asset management business comprising a portfolio of more than AED 49 billion worth of investment grade and income-generating real estate assets diversified across retail, residential, commercial, logistics, and hospitality segments. It manages four core platforms: Aldar Investment Properties, Aldar Hospitality, Aldar Education, and Aldar Estates.

For more information on Aldar please visit www.aldar.com or follow us on:

https://www.instagram.com/aldar/?hl=en

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https://x.com/aldartweets?lang=en

Aldar Contacts

Obaid Al Yammahi
Aldar Properties
+971 2 810 5555		 Sarah Abdelbary
Brunswick
+971 2 234 4600
aldar@brunswickgroup.com

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Statement on Accell Group Ownership Transition

KKR

KKR invested in Accell in 2022 based on strong long-term fundamentals in sustainable mobility and increasing e-bike adoption across Europe. At the time of the investment, market conditions were supported by strong demand and supply constraints, and Accell’s portfolio of leading brands and market positions provided meaningful exposure to these structural growth trends.

Shortly thereafter, the European bike industry entered an unprecedented and prolonged downturn. Excess inventory, sustained discounting and weakening consumer demand created severe and persistent pressure across the sector, affecting manufacturers industry-wide. Throughout this period, KKR worked closely with Accell’s management team and acted as a supportive shareholder, providing substantial financial backing and deep operational expertise to help stabilise and strengthen the business.

Following constructive engagement, Accell Group, its shareholders and lenders have now agreed to a new ownership structure led by the company’s existing lenders to support the business in its next phase.

As part of this agreement, Accell will receive additional funding to ensure stability and give management the necessary runway to remain focused on operating the business. This capital will be directed toward strengthening liquidity, supporting day-to-day operations and positioning the company for the upcoming season as industry conditions continue to normalise.

During its ownership, KKR supported a wide-ranging programme of operational and organisational measures, consistent with KKR’s role as a long-term and responsible investor. This included continuing to support growth initiatives and new product launches, while strengthening leadership, improving liquidity and resilience, and centralising operations as part of the One Accell strategy. These actions were taken to ensure continuity of operations, support Accell’s customers and partners, and position the business for a return to sustainable profitability as market conditions normalise.

As a result of the severity and duration of the industry downturn, Accell’s capital structure evolved and lenders assumed greater economic responsibility for the business. With the company now stabilised and the season soon to pick up, Accell will transition to a new ownership structure in which lenders, working closely with management, are positioned to support the company’s ongoing recovery and execution of its business plan.

Jonas Nilsson, CEO, Accell Group said: “We would like to thank KKR for its significant support and commitment as a responsible shareholder throughout its ownership. The business is stronger as a result of that support, and we are well advanced in our plans to fundamentally transform the company. Accell is an extraordinary business, with a unique position in the European bike market and a portfolio of iconic brands, and we remain confident in its potential following the hard work undertaken during a challenging period for the industry.”

KKR would also like to recognise the resilience and commitment shown by Accell’s management and employees throughout this challenging period.

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Kristi Huller
Julia Kosygina
Liidia Liuksila
Telephone: +1 (212) 750-8300

Email: media@kkr.com

EMEA

Annabel Arthur
Miles Radcliffe-Trenner
Julia Leeger
Telephone: +44 20 7839 9800

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Telephone: +65 6922 5813

Email: media@kkr.com

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Outside US: +1 (212) 230-9410
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Email: Investor-Relations@kkr.com

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Blackstone Announces Agreement to Acquire Champions Group

Blackstone

New York, NY – February 17, 2026 – Blackstone (NYSE: BX) announced today that funds managed by Blackstone’s perpetual private equity strategy (BXPE) (“Blackstone”) have entered into a definitive agreement to acquire Champions Group, a premier provider of essential home services, from Odyssey Investment Partners, LLC (“Odyssey”). Odyssey and management are retaining a significant minority investment alongside Blackstone.

Champions Group is a leading residential services platform providing essential home services to the residential repair and replacement market. The Company operates a scaled, integrated model across tier one MSAs with over 1,800 field technicians and 150,000 active members. Champions Group has built a differentiated go-to-market approach anchored by its membership model and longstanding commitment to delivering top-tier service to its loyal customer base.

Frank DiMarco, CEO of Champions Group, said: “Partnering with Blackstone marks a defining next chapter for Champions Group. With Odyssey’s backing, we built one of the premier home services companies by empowering local leaders, investing in great teams, and earning customer trust. As we enter our next phase, we believe Blackstone’s resources and expertise will help us accelerate growth, strengthen our market leadership, and continue raising the bar for the home services industry.”

Michael Staub, Senior Managing Director, and Maury Bardovi, Managing Director at Blackstone, said: “We are thrilled to partner with Frank DiMarco and Odyssey as we continue to build Champions Group into a multi-service residential services platform. By bringing together best-in-class essential services under one umbrella, we have an opportunity to redefine what homeowners expect from a residential services provider—exceptional quality, reliability, and scale, all delivered locally. This partnership positions Champions Group to set a new standard for the industry and create long-term value for customers, employees, and the communities it serves.”

Brian Kwait, Chief Executive Officer, and Dennis Moore, Managing Principal of Odyssey, said, “We are excited to partner with Blackstone in the next chapter of growth for Champions Group. Over the past five years, we have had the honor of collaborating with Frank DiMarco and his outstanding team to successfully build Champions Group into a larger and more diverse home services company through a range of value generating organic growth initiatives and several strategic acquisitions. We are grateful for their outstanding leadership and look forward to continuing to provide our support to Champions Group as they further expand an outstanding platform to serve customers at the highest level, with the added benefit of Blackstone’s strategic and financial resources.”

Terms of the transaction were not disclosed. The transaction is expected to close in the first half of 2026, subject to customary conditions.

Weil served as a legal advisor to Blackstone. William Blair is serving as lead financial advisor to Champions Group and Odyssey, with Piper Sandler and Baird as co-financial advisors. Latham & Watkins LLP is serving as legal counsel to Odyssey.

About Blackstone    
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About Champions Group
Based in Orange County, CA, Champions Group is a leading provider of essential home services specializing in heating, air conditioning, plumbing and electrical services. With the mission to maintain long-term relationships with its customers, Champions Group is dedicated to delivering timely, high-quality services across a comprehensive suite of HVAC, electrical and plumbing products.

About Odyssey Investment Partners
Odyssey Investment Partners is a leading private equity investment firm with more than a 25-year history of partnering with skilled managers and using its buy, build and integrate approach to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority-controlled investments in industrial and business services sectors with a long-term positive outlook and favorable secular trends. For further information about Odyssey, please visit www.odysseyinvestment.com.

Media Contacts

Blackstone
Hallie Dewey
Hallie.Dewey@Blackstone.com

Odyssey
Mark Semer / Grace Cartwright
Gasthalter & Co.
odyssey@gasthalter.com

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M&G and CVC agree landmark $1.1 billion private equity transaction

CVC Capital Partners

M&G Investments (M&G) today announces the expansion of its private equity platform with the completion of a landmark $1.1 billion managed fund secondary transaction in a new strategic partnership with CVC Secondary Partners (CVC), deepening the relationship with one of the world’s leading private markets managers.

Under the terms of the partnership, funds advised by CVC have committed $1.1 billion to M&G’s 2025 PE Secondary Fund to acquire a portfolio of private equity interests – primarily in mature North American mid-market buyout funds – and to make future co-investments alongside these managers. M&G will maintain the management of the portfolios and the direct relationships with the underlying managers.

Building on M&G and CVC’s history of collaboration, the transaction delivers immediate exposure to a diversified portfolio of high-quality US private equity funds and access to M&G’s established network of leading General Partners. The partnership provides a strong platform for allocating capital to compelling opportunities through innovative structures, whilst also expanding M&G’s private assets platform for the next phase of growth.

Emmanuel Deblanc, Chief Investment Officer, Private Markets at M&G, said: “Having worked with CVC for more than two decades supporting the growth of private companies globally, this new mandate builds on a relationship rooted in investment excellence, aligned philosophies and a shared commitment to disciplined portfolio construction. By partnering with CVC on this transaction, we are combining our joint sourcing capabilities, scale and expertise in secondary investing, which broadens what we can deliver for clients, supports the continued growth of our private equity business and reinforces our commitment to backing strong businesses with long-term capital.”

Louise Boothby, a Managing Partner at CVC Secondary Partners, said: “We are pleased to be partnering with M&G again in this landmark transaction. This represents an exciting expansion of our long-standing relationship with M&G and importantly provides our investors with exposure to a seasoned and diversified portfolio, managed by some of the highest quality private equity managers.”

Francesca Paveri Fontana, Senior Managing Director at Evercore, said: “This transaction showcases the innovative nature of the secondary market by not only providing a strong liquidity solution for existing assets, but also expanding the primary deployment capabilities of both firms involved. We are delighted to have partnered with M&G on their successful transaction and congratulate the M&G and CVC teams on reaching this important milestone.”

The transaction completed on 31 December 2025

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Axon Diagnostics joins Medica Group to enhance UK diagnostic services

IK Partners

On 13 February Axon Diagnostics joined Medica Group, marking an exciting new chapter for our organisation and for the future of remote diagnostics in the UK.

By joining forces, we will become the UK’s largest clinical reporting network, supporting more than 2.5 million patients each year across the majority of NHS Trusts. This step reflects our shared ambition to accelerate innovation and gives us the scale, and capability, to support even more patients with faster, accurate reporting.

As part of this integration, Axon’s sister company, MITIS Health, will also join Medica. MITIS brings its Clinical Desktop technology, already trusted by many NHS Trusts, to support high fidelity remote diagnostic reporting.

Strengthening our capabilities together

For more than 20 years, we have built a robust network of specialist clinicians, supported by strong clinical governance and advanced infrastructure. By welcoming Axon and MITIS into the Medica Group, we are enhancing this foundation even further.

Axon is known for its innovative technology platform, agile workflows, and secure, high-performance remote desktop solutions powered by MITIS Clinical Desktop. These tools allow clinicians to work with complete flexibility, seamlessly and securely, from any appropriate location. Axon also brings a team of highly skilled clinicians who have earned a reputation for their quality and responsiveness.

Together, these strengths mean we can offer:

  • More capacity for clients across the UK
  • Faster turnaround times for routine and urgent cases
  • An enhanced experience for both healthcare partners and patients
  • A stronger platform for innovation, including AI-enabled reporting and optimised workflows

The UK’s largest clinical reporting network

With Axon joining Medica, we will be working with the majority of NHS Trusts and covering a broad range of diagnostic subspecialties.

Both organisations share the same commitment: to act as trusted strategic partners and deliver consistent, transparent, high-quality diagnostic services. Our clients will continue to work with the same familiar teams, while gradually benefiting from enhanced tools, streamlined workflows, and increased flexibility as our systems integrate.

Leadership insights

Andrew Cannon, Chief Executive Officer of Medica Group, said: “This merger marks a significant milestone for Medica, and we are proud to welcome Axon into the Medica Group. The Axon team has built an exceptional business in a remarkably short time, earning the trust of clients through first-rate service, agility and a deep commitment to quality. Bringing Axon into Medica strengthens our position as the UK’s leading diagnostics provider. Clients will continue to receive the excellent service they rely on, now supported by greater capacity and advanced reporting technology. We look forward to building a compelling future together, driving further innovation and delivering outstanding patient care at the core of our mission.”

Rahul Mehta, Chief Executive Officer of Axon Diagnostics, said: “Axon was founded to push the boundaries of diagnostic innovation, and joining Medica enables us to amplify that mission. This merger combines our technology and agile approach with Medica’s scale and clinical excellence, meaning more patients will benefit from faster and smarter reporting. We’re excited to enter this next chapter together, bringing our teams and clients with us into the Medica Group as we continue building trusted, high-quality diagnostic services.”

What happens next

We are now working through a phased integration plan that will bring together our systems, teams, and best practices in a structured and transparent way. While this integration progresses, our focus remains firmly on delivering reliable, high-quality diagnostic services that place patients at the centre of every decision we make. We look forward to the opportunities this partnership will unlock as we continue working together to deliver the highest standards of diagnostic care.

Contacts

Medica
Helen Lawton
Group Head of Marketing, Communications and Events
Email: Helen.lawton@medica.co.uk
Tel: 07950179069

FTI Consulting
Ben Atwell / Sam Purewal
Email : medica@fticonsulting.com
Tel: +44 (0) 203 727 1000

About Medica

Medica Group is the UK’s largest telemedicine diagnostics provider, delivering expert teleradiology and telepathology services to over half of NHS hospitals nationwide. With more than 20 years’ experience in remote diagnostics, Medica provides 24/7 coverage for urgent and routine imaging via a network of 800+ specialist clinicians across the UK, Ireland and the US. Its innovative platforms and use of AI-enhanced workflows help healthcare providers reduce imaging backlogs and improve patient outcomes. Headquartered in Hastings, UK, Medica Group also encompasses Medica Ireland (managed radiology and pathology services in Ireland) and RadMD in the USA (clinical trial imaging), underscoring its international reach and commitment to “improving lives through excellence in diagnostics and research.”

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About Axon Diagnostics

Axon Diagnostics is a UK-based, clinically led diagnostics services provider delivering radiology, teleradiology and digital pathology services to the NHS and private healthcare organisations. Axon offers a suite of solutions to support the needs of modern diagnostic imaging services, underpinned by innovative, secure streaming technology that enables efficient reporting, supports clinicians, and delivers tangible benefits for patient care. Axon Diagnostics – Radiology Reimagined.

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About MITIS Health

MITIS Health is a UK-based technology provider focused on improving diagnostic workflows. MITIS Health has built the Next Generation Home and inHospital Reporting Solution for Radiology, Pathology and Clinical Desktops. The Company’s Secure Gateway allows clinicians working remotely to securely project a desktop located in the hospital or datacentre, directly to any appropriate remote location. Complete lossless transmission / zero degradation of images is supported for all light-based scans such as: Plain Film, CT, MRI, PET, Ultrasound and Histopathology.

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