Category Archives: News

EQT to acquire majority position to support the growth of CluePoints, a leading provider of AI-powered software solutions used for data interrogation and analytics in clinical trials

eqt
  • CluePoints is a cloud-based software platform for Risk-Based Quality Management (“RBQM”) and data quality oversight in clinical trials, designed to enable safer and more efficient processes and improving data integrity and risk compliance
  • As scientific breakthroughs and advancements in technology and data are accelerating healthcare innovation, the markets for RBQM and data interrogation & analytics software are expected to experience strong growth
  • In this highly thematic investment at the intersection of pharma, software and AI, EQT will apply its expertise investing in healthcare and throughout the tech value-chain to help CluePoints cement its leading global position
  • Summit Partners, an investor in CluePoints since 2020, and Clinimetrics SA, a co-founder of CluePoints, will retain minority stakes with participation in this funding round

EQT is pleased to announce that the EQT Healthcare Growth Strategy and the EQT Growth Fund have agreed to acquire a majority stake in CluePoints (the “Company”), with meaningful reinvestment from the management team and existing shareholders Summit Partners and Clinimetrics SA, which was also a co-founder of the Company.

Founded in 2012 and headquartered in Belgium, CluePoints is a premier software provider for RBQM and data quality oversight in clinical trials. Applying advanced statistics and machine learning, and harnessing over 10 years of clinical trials knowledge, CluePoints’ proprietary algorithms help drive positive outcomes for pharmaceutical and biotech companies, contract research organizations and other customers. The Company offers an end-to-end value proposition from initial risk identification to ongoing tracking and monitoring of issues and discrepancies throughout the drug development process. With more than 9,500 platform users, CluePoints has helped de-risk more than 1,600 studies and has detected over 142,000 issues for its customers, which include many of the top 20 largest pharma companies.

CluePoints received a growth investment from Summit Partners in 2020, and over the course of the last several years, the Company has generated significant growth, building a robust go-to-market function, launching new products and diversifying into new markets.

This new investment comes at a time when CluePoints is seeing accelerating growth, underpinned by increasing adoption of RBQM software across virtually all clinical trial phases. The industry is experiencing momentum due to growing research & development spend, increasing data complexity in clinical trials and a focus on patient safety and data quality driven partly by regulatory scrutiny.

Investing in CluePoints is aligned with the objectives of EQT Healthcare Growth to support companies with their mission to deliver positive healthcare outcomes, and of EQT Growth to invest in the next generation of technology leaders. EQT will apply its 30-year track record of investing in healthcare, experience of investing in software and AI, its in-house digital team and global network of Industrial Advisors to help CluePoints cement its leading global position in RBQM and data analytics for clinical trials.

Andy Cooper, CEO of CluePoints, said: “We are delighted that EQT has chosen to partner with CluePoints. EQT is a market-leading investor in both SaaS (Software as a Service) and medical research industries. This combination makes EQT an ideal partner for CluePoints which is a market leader for SaaS-based clinical data analytics. We are grateful for Summit’s active support over the last four years. Their depth of industry knowledge and operational resources have been instrumental in our growth trajectory. Both EQT and Summit share our passion for and commitment to leveraging innovative advanced statistics and machine learning solutions to eliminate manual, error-prone activities in the clinical trial process.”

Dr Mark Braganza, Partner in the EQT Healthcare Growth Advisory Team, commented: “We are excited to be partnering with CluePoints and its dynamic leadership team to help it scale and reach its full potential. The Company’s ambition is a perfect match with ours to help enable the development of medical research to deliver more effective, efficient and accessible healthcare.”

Kirk Lepke, Partner in the EQT Growth Advisory Team, said: “CluePoints is a prime example of how data, machine-learning and AI can be leveraged to improve real world outcomes – in this case pharmaceutical drug development. The entire EQT platform is behind this investment and ready to support the Company with its continued expansion in RBQM and into growing, adjacent markets.”

Thomas Tarnowski, a Managing Director at Summit Partners, said: “We’ve been proud to work alongside the entire CluePoints team during a period of meaningful growth and expansion, supporting the acceleration of product development efforts and entry into new markets.” Jono Pagden, a Principal at Summit, continued: “We are excited to continue our support of the Company and to partner with management and EQT during this next phase of growth.”

The transaction is subject to customary conditions and approvals. It is expected to close in Q3 2024.

Contacts
EQT Press Office, press@eqtpartners.com
Summit Partners Press Office, mdevine@summitpartners.com
CluePoints Press Office, Jodie@discovery-pr.com

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Healthcare Growth will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About EQT
EQT is a purpose-driven global investment organization with EUR 242 billion in total assets under management (EUR 132 billion in fee-generating assets under management), 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 CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. CluePoints is leveraging the potential of artificial intelligence using advanced statistics and machine learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.

More info: www.cluepoints.com

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in healthcare, technology and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

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Light secures $13M scale the first AI-powered general ledger for automating global company finances

Seedcamp

Legacy ERP (Enterprise Resource Planning) systems developed in the ‘80s and ‘90s fail to meet the expectations of today’s modern, global-first companies and are ripe for technological innovation. Software solutions focused on the general ledger — a company’s source of truth for financial transactions – are among the essentials in the CFO tech stack.

This is why we are excited to back Light, the first AI-powered general ledger for automating global company finances. Founded by Jonathan Sanders and Filip Kozjak, Light’s mission is to revolutionize ERP software for modern multinationals.

We partnered up with Light as part of their pre-seed and we’re really excited to see them come out of stealth and announce their seed round led by Atomico, in which we also participated.

The Copenhagen-based AI-driven platform unifies accounting, tax, payments, and reporting across entities, countries, and currencies, drastically reducing month-end closing times and enhancing accuracy. Companies can integrate Light with their CRM and HRM tools, their banks, and even their communication channels (e.g. Microsoft Teams and Slack).

Jonathan Sanders, Light’s co-founder and CEO emphasises:

 “Having both worked at and founded scaling companies, I am acutely familiar with how poor legacy accounting systems are, and how much that can impact your business. They’re expensive, very slow, and require too many add-ons to be useful on a standalone basis. With Light, our goal is to help companies understand their finances more accurately and quickly by integrating a ledger with a strong application layer, helping them achieve faster growth, stronger operations, and greater resilience.”

Light’s product has been developed in close collaboration with advisors who consist of former product leaders, chief architects and CXOs from Workday, SAP, Oracle and Microsoft Dynamics.

On why we partnered up with Light, our Partner Tom Wilson comments:

“Jonathan is a perfect founder to be building Light, he brings a huge amount of experience from his time working at Seedcamp Unicorn Pleo and founding VC-backed Juni. He fully appreciates the current market that Light is competing against and the scale of the opportunity to disrupt the legacy players. We love working with Jonathan and the Light team and look forward to seeing what they can achieve with this funding round which we’re delighted to follow-on in.”  

We are excited to participate in Light’s $13M financing round led by Atomico, alongside Entrée Capital, Cherry Ventures, and notable angels including Mario Götze.

For more information, visit light.inc.

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Equativ and Sharethrough merge to form one of the largest global independent ad platforms and marketplaces

Bridgepoint

Complementary capabilities and inventory create a commercially scaled industry player with a powerful global presence

Equativ, the global independent ad tech company, today announces its merger with Sharethrough, one of the top independent omnichannel ad exchanges. This union aims to establish one of the largest ad marketplaces globally, empowering advertisers, media owners and technology partners to optimise programmatic value and scale.

With more than 720 employees, 18 countries, and a combined net recurring revenue above $200m, the unified entity will provide advertisers and media owners with an independent vertically-integrated alternative to walled gardens, addressing the growing industry’s need for heightened efficiency and innovation on a large scale. Equativ, which confirmed Bridgepoint as its primary investor last year, has tripled in size over the last three years. In Q1 2024, Equativ and Sharethrough respectively achieved 16% and 20% growth year-over-year, driven by new strategic partnerships and increased revenue from curation, CTV, and green media products. Both companies collectively maintain complementary, long-standing relationships with major agency-holding companies, premium publishers, and Fortune 500 brands.

Leveraging the companies’ top-tier technological assets and global commercial presence the combined entity will offer a broader spectrum of services and sustainable media practices, enabling ad buyers to optimise supply paths while executing high-performance campaigns. Synergistic and complementary solutions will maximise outcomes for advertisers and media owners, who will be able to use the scaled offerings to:

  • Provide advanced video & CTV strategies with Equativ’s industry-leading server-side ad insertion (SSAI) and ad serving technology and its evolution of targetable TV advertising with the recent alliance with Deutsche Telekom. Broadcasters, rights owners, distributors, and operators can drive addressable live TV advertising and amplify yield through Equativ’s fully interoperable programmatic video ad tech stack.
  • Maximise user attention & performance through Sharethrough’s ad platform where creatives are seamlessly enhanced for attention and performance, which is further optimised by curating omnichannel inventory focused on directness, sustainability, and quality. Additionally, customers can reduce the carbon footprint while improving the efficiency of their digital advertising via the company’s industry-first Green Media Products (GreenPMPTM and GreenPMP+TM), launched in partnership with Scope3.
  • Deliver efficient and transparent transactions with Equativ’s curation platform, Equativ Buyer Connect (EBC), that streamlines programmatic efficiency by facilitating the creation of exclusive deals for more simplified and transparent transactions. Advertisers can achieve SPO and directly access premium inventory, while Media owners tap into additional demand, promoting fair value distribution across the ecosystem.
  • Expand addressability solutions with Equativ and Sharethrough’s comprehensive suite of seamless and privacy-first solutions. Equativ’s alternative IDs, first-party data activation, and proprietary contextual and semantic targeting solutions, combined with Sharethrough’s audience-based targeting solutions, can help advertisers reach audiences on a large scale, irrespective of the cookie’s future.

 

Arnaud Créput, CEO of Equativ, states:

“The merger with Sharethrough marks a significant milestone in Equativ’s history. The exceptional complementarity and minimal overlap between our two platforms, combining advanced TV technology, exclusive video demand, high-impact formats driving superior user attention, and our leading positions globally, will propel us among the top three independent SSPs worldwide. Our scaled, comprehensive, privacy-first, transparent, and vertically integrated Programmatic Direct Platform will enable us to meet the needs of advertisers, media owners, and consumers for greater control and simplicity in programmatic advertising.”

JF Cote, President & CEO of Sharethrough, adds:

“Our company cultures are exceptionally compatible. Given our longstanding acquaintance, merging the two companies feels like a natural progression; one that allows us to create commercial and operational efficiencies and reach new levels of unique scalability. The union positions us as an industry leader to our top-tier demand and supply-side partners as we work to provide the tools to enable enriched and equitable value exchanges for them across the ecosystem.”

Jean-Baptiste Salvin, Partner at Bridgepoint Development Capital, adds:

“We are excited to support Equativ and Sharethrough in this pivotal merger. This union represents a significant step forward, combining their unique strengths and innovative capabilities to drive unparalleled growth and value. We are confident that together, they will redefine the programmatic advertising landscape and create exceptional opportunities for their stakeholders.”

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Blue Earth Capital provides $ 16 million credit financing to Samunnati to improve access to finance for farmer collectives and agricultural enterprises in India

Blue Earth Capital

aar-Zug, Switzerland, June 11, 2024

Blue Earth Capital (“BlueEarth”), the specialist global impact investor, today announces it has completed a $ 16 million direct credit investment into Samunnati Financial Intermediation & Services Private Limited (“Samunnati” or “the Company”). Samunnati, India’s largest agri-enterprise, is an integrated platform offering financial and advisory services to underserved Indian farmer collectives and agricultural enterprises.

The investment from BlueEarth’s investment vehicles and partners will enable Samunnati to expand its financial support to a wider network of farmer collectives and agricultural enterprises across India.

Agriculture remains central to the Indian economy, accounting for over 16% of the country’s GDP in 2022, and employing 43% of the workforce.12 While agriculture financing and market access have improved substantially in recent years, finding adequate financing and suitable buyers remains challenging for smallholder farmers and participants in the agriculture sector.

Samunnati plays a crucial role in solving these problems by providing financing, market linkages, and advisory services to more than 6,000 farmer collectives and 3,500 agricultural enterprises across 28 states in India. It does this through a range of initiatives such as delivering academy programs to farming collectives and their promoters, developing commodity research reports, enabling capacity building, improving financial literacy, and embedding sustainable farming practices. This direct, targeted support helps collectives in the country scale their operations and apply more sustainable practices, working to unlock the full potential of Indian agriculture.

Amy Wang, Head of Private Credit at Blue Earth Capital, stated: “We’re delighted to start our partnership with Samunnati to help expand their loan book and enhance the adoption of climate-smart agricultural practices across their portfolio. BlueEarth is proud to support a first mover in agriculture value chain financing in India, and contribute to Samunnati’s overall mission to strengthen the agriculture ecosystem, benefitting millions of smallholder farmers in the country.”

Mr. Anil Kumar SG, Founder and CEO of Samunnati, expressed his gratitude, stating, “We deeply appreciate the commitment demonstrated by Blue Earth Capital, in providing the opportunity to create the impact through their credit financing. This credit facility will significantly bolster our resolve to amplify our efforts, empowering all stakeholders in the agricultural value chain and ultimately transforming the lives of smallholder farmers across India. We look forward to a successful partnership in delivering a sustainable value addition in India’s agricultural sector”.

-END-

Notes to editors

About Blue Earth Capital
Blue Earth Capital is a global, independent, specialist impact investor, headquartered in Switzerland, with operations in New York, London, and Konstanz. Blue Earth Capital seeks to address the world’s most pressing social and environmental challenges by delivering measurable impact alongside aiming for attractive and market-rate financial returns. The company operates dedicated private equity, private credit, and fund solutions. Blue Earth Capital is owned by the Blue Earth Foundation, a Stiftung (charity/trust) registered in Switzerland that focuses on deep impact to support initiatives and business ventures to help deliver a more equitable and sustainable future.

About Samunnati
India’s largest agri-enterprise, Samunnati is an open agri-network to unlock the trillion-dollar-plus potential of Indian agriculture with smallholder farmers at the center of it. Staying true to its name, Samunnati stands for collective growth & collective prosperity for the agri-ecosystem. Serving the entire value chain, Samunnati’s agri-commerce and agri-finance solutions enable affiliated Farmer Collectives and the larger ecosystem to be more efficient and productive. Samunnati has a presence in more than 100 agri-value chains spread over 28 states in India. Samunnati currently has access to 6500+ Farmer Collectives with a member base of over 8 million farmers and envisions impacting 1 in every 4 farming households through its network by 2027.

 

Media contact

Blue Earth Capital
Kekst CNC
Blueearthcapital@kekstcnc.com

Samunnati
Saravanan K
saravanan.k@samunnati.com

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Ardian acquires a stake in Groupe Orion to support the company’s growth strategy, alongside its founders

Ardian

Ardian, a world-leading private investment house, announces that it is acquiring a stake in Groupe Orion, one of the major players in wealth management in France, alongside the two founders and the management team. Siparex ETI, a shareholder of Groupe Orion since 2022, is selling its entire stake.

The aim of this new investment is to strengthen the company’s structure to support its growth and accelerate its consolidation strategy, and to support the development of new digital tools and the expansion of its product range.

Founded in 2009 and headed by Manuel Parent and Emmanuel Angelier, the Orion Group manages over €3.3 billion in assets. The Group stands out for its hybrid model. Its offering includes a multi-service platform providing access to a vast range of products dedicated to wealth management professionals, as well as a network of over 30 wholly owned independent financial advisor firms. The strong growth of Orion’s assets under management on its platform reflects the quality of the services provided to its distribution and insurance partners. This is made possible, in part, by Canopia, the in-house digital solution developed by Orion with the support of Siparex ETI. Thanks to this unique positioning in a buoyant market, the Orion Group now has over 470 distribution partners and 30,000 individual customers.

Alongside the founders and management team, Ardian will support the Group in structuring and enhancing its product and service offering, to accelerate its organic growth. The company’s growth already far outstrips the market average and is underpinned by a resilient business model characterized by recurring revenues, as well as by its long-standing, trust-based relationships with leading insurers and distribution partners. Ardian will also contribute to further strengthening the Group’s position in the French savings products distribution market, where business is also growing steadily, by actively supporting its external growth strategy already underway with 29 acquisitions since 2021.

The transaction remains subject to regulatory approvals.

“We are delighted to become the Orion Group’s new partner. The Group, led by two talented entrepreneurs, has enjoyed impressive growth thanks to a model that is unique in the market. We look forward to putting Ardian’s resources, experience and networks at their disposal to accelerate the Group’s growth and help them consolidate Orion’s leadership in its sector.” Stéphan Torra, Managing Director Expansion, Ardian

“Since its creation, the Orion Group’s track record has been remarkable. We are delighted to be beginning a new chapter alongside the founders, enabling the company to optimise its structure and further accelerate its organic growth and acquisitions strategy. We will also be supporting the company’s operational development, with the creation of new services and the expansion of its product range.” Marie-Arnaud Battandier, Managing Director Expansion, Ardian

“We are proud to welcome Ardian to the Orion Group and look forward to their support as we continue to grow and develop the company into a leader in the wealth management market. Ardian’s knowledge and vision of the market will enable us to continue to grow, for the benefit of our customers and partners.” Manuel Parent and Emmanuel Angelier, CEOs and Presidents, Groupe Orion

“We are proud to have taken part in Orion’s first capital injection two years ago, and to have supported its managers, Manuel Parent and Emmanuel Angelier, in accelerating the group’s growth, which has now become a benchmark platform for wealth management.” Thibaud De Portzamparc and Guillaume Rebaudet, Partners, Siparex ETI

LIST OF PARTICIPANTS

  • PARTICIPANTS

    • GROUPE ORION: MANUEL PARENT, EMMANUEL ANGELIER
    • EXPANSION ARDIAN: STÉPHAN TORRA, MARIE ARNAUD-BATTANDIER, DAVID CAHUZAC, PIERRE PESLERBE, BADR M’HAIDRA
    • SELLERS: SIPAREX ETI: THIBAUD DE PORTZAMPARC, GUILLAUME REBAUDET, THOMAS OILLIC, CAROLINE JACQUET

  • BUYER ADVISORS

    • M&A LAWYERS: HOGAN LOVELLS (STÉPHANE HUTEN)
    • TAX ADVICE LAWYERS: HOGAN LOVELLS (LUDOVIC GENESTON)
    • LAWYERS FINANCING: PAUL HASTINGS (OLIVIER VERMEULEN, TEREZA COURMONT VLORA)
    • STRATEGIC DUE DILIGENCE: KEARNEY (DANIEL DADOUN, ALBÉRIC FISCHER)
    • FINANCIAL DUE DILIGENCE: EIGHT ADVISORY (EMMANUEL RIOU, GUILLAUME HEBERT)
    • LEGAL, TAX AND SOCIAL DUE DILIGENCE: HOGAN LOVELLS (STÉPHANE HUTEN, MAXIMILIEN ROLAND)
    • DIGITAL DUE DILIGENCE: AKVIZE (MICKAEL MAINDRON), ARTEFACT (JÉRÔME PETIT)
    • INSURANCE DUE DILIGENCE: FINAXY (DÉBORAH HAUCHEMAILLE)

  • ADVISORS TO SELLERS, COMPANIES, MANAGEMENT

    • M&A ADVISOR: FIG PARTNERS (CHRISTOPHE MUYARD, YOUNES SEDDIKI, BAPTISTE FALGOUX)
    • M&A LAWYERS: MCDERMOTT WILL & EMERY (GRÉGOIRE ANDRIEUX, HERSCHEL GUEZ, AURIANE TOURNAY)
    • FINANCING LAWYERS: WILLKIE FARR & GALLAGHER (IGOR KUKHTA)
    • FINANCIAL DUE DILIGENCE: EIGHT ADVISORY (GUILLAUME CATOIRE, GUILLAUME CHAVAGNAT)
    • PUBLIC ACCOUNTANT: ROSSIGNOL ET ASSOCIÉS (BERTRAND GAGNEUX, PRISCILLIA BOISSINS)

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $166bn of assets on behalf of more than 1,600 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT SIPAREX

An independent French private equity specialist, the Siparex Group has assets under management of €3.7 billion. With strong organic growth and significant acquisitions, Siparex is a group at the service of business development and transformation. From start-ups to ETIs, it finances and supports major entrepreneurial adventures through its various business lines: Private Equity (Tilt, Entrepreneurs, Territoires, Midcap, ETIs), Venture Capital (XAnge), and Private Debt.
The Group has a strong local presence, with 6 offices in France (Paris, Lyon, Nantes, Lille, Strasbourg and Toulouse), 3 in Europe (Milan, Berlin and Brussels) and partnerships in Africa and North America.

www.siparex.com

MEDIA CONTACTS

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Princeton Medspa Partners Closes $120 Million Growth Financing

BC Partners Logo

BC Partners Leads Strategic Capital Solution to Facilitate Expansion

Princeton Medspa Partners (“PMP” or the “Company”), one of the leading national medspa acquisition platforms in the high-growth, highly fragmented, approximately $30 billion U.S. medical aesthetics market, is pleased to announce the closing of $120 million of committed financing. BC Partners, a leading alternative assets investor with approximately $40 billion of assets under management, provided the growth capital to refinance the Company’s existing credit facility and fund near-term acquisitions.

PMP owns and operates 10 injectables-focused medspa clinics located in attractive suburban markets. Since 2022, the Company has built a scaled platform leveraging its reputation as the “Partner of Choice” for provider-owned practices. PMP is led by its team of experienced operators, who have successfully built multiple consumer and healthcare services businesses – adding over 400+ units in less than 5 years, combined. The Company has significant runway to acquire market-leading suburban clinics and help providers better operate and grow their practices. PMP was founded by Jim Waskovich, who is also the Co-founder and Managing Partner of Princeton Equity Group, a leading private equity firm with substantial experience in high-growth, multi-site companies.

“We are excited to partner with PMP and Princeton Equity Group, given their impressive track record growing the Company to where it is today. We believe the new capital will further elevate the business to achieve its strategic goals.” said Ted Goldthorpe, Partner at BC Partners Credit.

“BC has brought a unique offering through its ability to offer a turn-key capital solution that addressed our needs. We are thrilled to partner with BC and unlock the next phase of growth for PMP,” said Jim Waskovich, Founder and Managing Partner of Princeton Equity Group.

Princeton Medspa Partners was advised by Piper Sandler & Co. and Akin Gump Strauss Hauer & Feld LLP. BC Partners was represented by McDermott Will & Emery LLP.

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Wendel Growth invests in YesWeHack, a leading Bug Bounty1 and Vulnerability Management Platform

Wendel

Wendel (Euronext: MF.FP), through its Wendel Growth investment arm, announced today the acquisition of a
minority stake in YesWeHack through an equity investment of €14.5 million. Wendel invests alongside Adelie,
Seventure Partners and historical investors Eiffel Investment Group, Open CNP2 and Caisse des Dépôts et
Consignations.

YesWeHack is a cybersecurity company that was founded in 2015. The company has developed a platform to
manage Bug Bounties, a cybersecurity technique consisting in incentivizing a community of ethical hackers to
detect and report vulnerabilities in exchange for bounties. YesWeHack connects organisations to tens of
thousands of ethical hackers. The goal is uncovering and patching vulnerabilities in websites, mobile apps,
connected devices and digital infrastructure. YesWeHack has a strong international footprint with dominant
positions in France and Singapore and clients coming from over 50 countries.

Hundreds of organisations worldwide – private, public and governmental – already benefit from YesWeHack’s
in-house triage3, personalised support, customisable model and a results-based billing model for the customer.
Built and run by ethical hackers, YesWeHack has in-depth knowledge of what ethical hackers and
organisations need from a Bug Bounty platform to cost-effectively secure digital assets, reputations and
customer data.

Antoine Izsak, Head of Growth Equity, said:
« Bug bounty is now recognised as a must by some of the companies most exposed to the cyber threat. We
are delighted to be working with the European leader YesWeHack, which stands out for its quality of service,
compliance with regulations and the relevance of its technological roadmap for customers who are increasingly
overwhelmed by the growing volume of vulnerabilities.»

Guillaume Vassault-Houlière, YesWeHack CEO, stated:
« This new round of funding is a vote of confidence in our commitment to excellence and ambitious vision.
Thanks to this investment, YesWeHack commits to delivering even higher levels of customer satisfaction and
accelerating development of innovative solutions in one of the most dynamic market segments in
cybersecurity. We would like to express our deep gratitude to Wendel for their support. Their considerable
experience and long-term vision will be decisive assets for YesWeHack in this new phase of its development,
which will make it a global player in cybersecurity.”
1 where ethical hackers can report security exploits
2
the Corporate Venture Capital fund of CNP Assurances
3
the triage team main role is to check the vulnerabilities found before forwarding them to the customers

About Wendel
Wendel is one of Europe’s leading listed investment firms. The Group invests in Europe and North America in companies which are leaders in their field, such as ACAMS, Bureau
Veritas, Crisis Prevention Institute, IHS Towers, Scalian, Stahl and Tarkett. Wendel often plays an active role as a controlling or significant shareholder in its portfolio companies.
Wendel seeks to implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. With
Wendel Growth, Wendel also invests via funds or directly in innovative, high-growth companies. In 2023, Wendel initiated a strategic shift into third-party asset management of
private assets, alongside its historical principal investment activities.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 since January 25, 2019
Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of “Grand Mécène de la Culture”
in 2012.

For more information: wendelgroup.com
Follow us on LinkedIn @Wendel

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Ratos company LEDiL to acquire Ingemann Components

Ratos

LEDiL, the global market leader in secondary optics for LED lighting, is joining forces with the northern European leader in optical diffusive and reflective components: Ingemann Components (“Ingemann”). LEDiL has signed an agreement to acquire all the shares of Ingemann, creating a combined company that will serve as a one-stop shop for indoor lighting manufacturers.

Ingemann specialises in optimising light output, luminaire efficiency, light distribution, and glare control by providing customised best-in-class products and services. Through long-standing, close customer relationships and high-quality offerings, Ingemann achieved a revenue CAGR of approximately 20% for 2018-2023 (with its present offering), thereby securing a market-leading position in the Nordic office lighting industry. The company’s recent growth has been further fuelled by its geographic expansion in Europe and the US. As a result of the complementary offerings of LEDiL and Ingemann, LEDiL will accelerate Ingemann’s geographic expansion through its global sales and distribution network. Ingemann also creates a platform for further growth in large-scale optics.

“Add-on acquisitions are a core part of Ratos’s strategy, and since 2021, we have completed 19 add-on acquisitions. With complementary offerings and LEDiL’s global customer relationships coupled with proven operational excellence, this acquisition has all the prerequisites to drive profitable growth. LEDiL’s acquisition of Ingemann will create synergies and benefit the customers,” says Jonas Wiström, Chairman of the Board of LEDiL and President & CEO of Ratos.

“At LEDiL, we appreciate Ingemann’s outstanding customer service model, and we will invest in expanding this new complementary offering through our sales networks. Through our combined efforts, we can reach even more customers globally and provide a unique one-stop shop for indoor lighting manufacturers,” says Kimmo Rauhala, CEO of LEDiL.

About Ledil
LEDiL is a Finland-based, global leader in secondary optics for LED lighting. The company designs, develops and sells secondary optics for LED lighting globally. Secondary optics process light from the LED to achieve the luminaires’ optimal function, with the highest energy efficiency possible. Development and design are carried out in Salo, Finland. Products are sold worldwide through the company’s own sales force, agents, and distributors, and LEDiL exhibits industry-leading margins. The company’s products are primarily used in commercial applications such as street lighting, retail, and offices. The number of employees is approximately 110.

About Ingemann Components
Ingemann is a Denmark-based, northern European leader in light output, luminaire efficiency, light distribution, and glare control for large-scale optics. The company’s products are primarily used in retail and offices. The company generates approximately EUR 12m in revenue, with development, design and production carried out in Bjæverskov, Denmark. The company was founded in 2002.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21
Kimmo Rauhala, CEO, LEDiL, +35 8 50 558 37 68

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 17 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 34 billion in net sales (LTM). We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Rabo Investments proudly announces the investment in Hawk, a pioneer in combatting financial crime.

Rabo Investments

Hawk is a leading provider of AI-powered technology, enhancing fraud prevention and combatting anti-money laundering. Hawk’s solutions enable financial institutions to increase the effectiveness of financial crime detection and fraud prevention capabilities whilst maintaining regulatory compliance. The recent funding round will further accelerate Hawk’s international growth, as demand for AI-powered anti-financial crime technology soars. Rabo Investments is joining existing investors BlackFin Capital Partners, Sands Capital, DN, Picus and Coalition.

On Hawk

Hawk, founded in 2018, has rapidly scaled globally and currently monitors and screens billions of transactions worldwide. The company’s explainable AI approach has proven to be a game-changer in the industry, enabling financial institutions to drastically reduce false positive rates compared to traditional anti-money laundering solutions, while also detecting more unseen and novel crime. Hawk’s modular solution can either enhance or replace traditional rules-based systems with AI-powered transaction monitoring, payment screening, KYC, and fraud prevention in real-time to deliver greater accuracy and reduced noise.

Rabobank has been working with machine learning applications in FEC already for many years. What impressed us most about Hawk is that they’re delivering compelling results using explainable AI. Their advanced screening, detection and monitoring capabilities align very well with our mission at Rabo Investments Corporate Venturing to build a more secure and robust financial ecosystem. We are pleased to join Hawk as a shareholder to effectively combat global financial and economic crime.

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GoodLife Foods to acquire Audens Group

GoodLife Foods B.V. and its affiliates (‘GoodLife Foods’) is pleased to announce that an agreement was signed to acquire Audens Group Solutions S.L. (‘Audens’ or the ‘Company’), a leading manufacturer in the Iberian frozen food market. The combination will result in a highly complementary group producing and selling innovative frozen food snacks and meal components across Europe. Financial terms of the transaction are not disclosed and completion is subject to legal and regulatory approvals.

Headquartered in Granollers (Barcelona area), Spain, Audens offers a broad portfolio of branded and private label products focused mainly on frozen snacks/appetizers and ready-meals.

The Company specializes in the production and distribution of branded and private label products, serving a customer base active in the Retail and Foodservice channels, mainly in Iberia next to a growing international presence.

Audens employs over 800 employees and operates five state-of-the-art manufacturing plants in Spain and Portugal. The Company’s CEO David Sala Coll will become non-executive director at GoodLife Foods and will remain active as strategic advisor to Audens. Carles Bosch will be appointed as General Manager of Audens and will manage the daily business operations in Iberia.

This strategic move represents a significant milestone for GoodLife Foods, as it allows to further diversify its product offerings and tap into new geographical growth opportunities. The combination will result in a leading frozen savoury food group with a pan-European sales and production network offering high levels of innovation and service levels to its customers.

Dirk Van de Walle, CEO at GoodLife Foods, said: ‘We believe that by combining the resources of Audens and GoodLife, talents, and innovative spirit, we can create a powerhouse in the food sector that is primed for success. Together, we will leverage our collective strengths to better serve our customers, drive operational excellence, and fuel growth in both existing and emerging markets’.

David Sala Coll, at Audens, said: ‘We are delighted to join forces with GoodLife Foods and become part of a dynamic and forward-thinking organization. This transaction presents exciting opportunities for our employees, customers, suppliers and partners alike. Together, we will continue to deliver exceptional appetizer solutions while maintaining our unwavering commitment to quality and customer satisfaction’.

Frederik Jacobs, Partner at IK, said: ‘We are pleased to have helped bringing both companies together. Part of our investment strategy at GoodLife Foods is to accelerate internationalisation and expand our presence to faster growing frozen food categories. The combination of GoodLife Foods with Audens is a significant accelerator of our ambition to create a strong and structurally growing frozen food business across select savoury categories’.

About Audens Group Solutions S.L.

Audens is a leading manufacturer in the Iberian frozen market of both branded and private label snacks/appetizers. The Company has its headquarters in Granollers, Spain, with production sites in Spain and Portugal. For more information, visit https://enaudensfood.com

About GoodLife Foods B.V.

GoodLife Foods is one of Europe’s largest producers of both branded and private label frozen savoury food products. GoodLife Foods has its headquarters in Breda, the Netherlands with production sites in the Netherlands, Belgium and Denmark. For more information, visit https://glfoods.com/en/

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 170 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

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