Category Archives: News

Solestial Announces $17M Series A Funding Round to Scale Space Solar Manufacturing

Ae Industrial Partners

Series A funding led by AE Ventures; Margo de Naray joins Solestial as CEO

TEMPE, Ariz., Thursday May 15, 2025 — Solestial, Inc. (“Solestial”), the solar energy company for space, today announced a significant milestone with the closing of its $17M Series A funding round led by AE Ventures. The round welcomed new investors Crosscut Ventures, Zeon Ventures, and Mitsubishi Electric Corporation’s ME Innovation Fund (general partner: Global Brain Corporation), with participation from existing investors Airbus Ventures, General Purpose Venture Capital, Industrious Ventures, Stellar Ventures, and Techstars.

The Series A funding enables Solestial to continue scaling its manufacturing capacity of silicon photovoltaics to 1 megawatt per year, a rate comparable to the estimated annual manufacturing capacity of all US and EU III-V space solar companies combined.

Alongside the raise, Solestial also announced the appointment of Margo de Naray as Chief Executive Officer. De Naray, formerly Senior VP & GM of Space Products and Services at Astra, brings 20 years of extensive commercial and operations management experience in growth and high-tech environments. Founding CEO, Stanislau Herasimenka, will assume the role of Chief Technology Officer to focus on advancing the company’s product roadmap and rapidly scaling operations technology.

“We are thrilled to welcome Margo to lead Solestial into its next chapter,” said Herasimenka. “This transition allows me to continue developing our cutting-edge technology, while Margo brings additional strategic leadership and operational experience to deliver at scale.”

De Naray joins Solestial amid strong momentum. “We’re seeing tremendous market demand, and we are focused on delivering high-quality products,” she said. “We’re hiring, scaling production, and qualifying our technology, which is already deployed on multiple missions in space.”

“Space solar is a critical bottleneck in a rapidly growing industry with an ever-expanding set of missions—from national security to lunar exploration,” said Beckett Jackson, Partner at AE Ventures. “Solestial is uniquely positioned to serve spacecraft manufacturers with mass production of a lightweight, radiation-hardened solution at lower cost and a fraction of the lead time of the current standard.”

The only space solar manufacturer with demonstrated ability to self-heal radiation damage, Solestial offers spacecraft manufacturers the ability to significantly reduce cost and weight without sacrificing energy needs or performance.

“Solestial continues to revolutionize low-cost, lightweight solar power for space. Stan’s continued focus on the technical breadth of Solestial products and Margo’s new addition as a leader of the team are the ingredients to unlock the next phases growth and success,” said Mat Costes, Partner at Airbus Ventures. “We are also thrilled to welcome new investors and see investors from the seed round returning, collectively signifying what we all know—the market applications for this technology are robust, fast accelerating, and Solestial is ready to meet market demand.”

“Our colleagues at Mitsubishi Electric Corporation have been working with Solestial for a number of years to evaluate the potential of Solestial’s technologies,” said Komi Matsubara, Executive Officer (Associate), Vice President, Business Innovation at Mitsubishi Electric Corporation. “We see tremendous potential in Solestial’s technology and are pleased to deepen the relationship and support their development.”

With strong customer demand, Solestial has prioritized scaling production. Since opening its Tempe, Arizona manufacturing facility in 2023, the company has added square footage each year, more than doubled its workforce, and delivered commercial products to dozens of companies.

About Solestial
Solestial exists to deliver abundant energy in space. The company’s breakthrough technology is a silicon solar cell engineered for space to self-cure radiation damage under sunlight at operating temperatures as low as 65°C. Solestial solar cells are packaged in an ultrathin, low-mass, flexible solar power module designed to withstand up to 10 years in a variety of destinations in space. The flexible solar power modules can be produced on automated machines resulting in costs lower than traditional III-V multijunction solar products.

From today’s satellite constellations and research projects to tomorrow’s lunar settlements and services in space, Solestial’s innovative technology represents a paradigm shift for space solar; an affordable, scalable solution to power sustained development. Solestial is a US company manufacturing solar cells and flexible solar power modules in Tempe, Arizona. To learn more, visit the Solestial website and follow Solestial on social media.

About AE Ventures
AE Ventures is the venture capital platform of AE Industrial Partners, a private investment firm with $6.4 billion of assets under management, focused on highly specialized markets including national security, aerospace and industrials. AE Ventures has completed over 50 investments in early-stage companies that benefit from the deep industry knowledge, operating experience, and network of relationships across the sectors where the firm invests.

About Airbus Ventures
Airbus Ventures operates in service of deeptech entrepreneurs who are inspired to design, build, and service complex engineering products capable of unlocking entirely new economies.

About Mitsubishi Electric Corporation
With more than 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its “Changes for the Better.” The company recorded a revenue of 5,257.9 billion yen (U.S. $34.8 billion*) in the fiscal year ended March 31, 2024. For more information, please visit www.MitsubishiElectric.com.

*U.S. dollar amounts are translated from yen at the rate of ¥151 = U.S. $1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2024.

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Hornetsecurity to join Proofpoint, creating a leading global cybersecurity platform

TA associates

Hanover, Germany – Leading global investment firms TA Associates (“TA”), PSG Equity (“PSG”) and Verdane, are pleased to announce that their portfolio company Hornetsecurity Group (“Hornetsecurity”) has today entered into a definitive agreement to be acquired by Proofpoint, Inc. (“Proofpoint”).

Hornetsecurity is a global provider of comprehensive AI-powered M365 security, data protection, compliance, and security awareness solutions. Driven by innovation and cybersecurity excellence, Hornetsecurity is helping to build a safer digital future and sustainable security cultures with its award-winning product portfolio. The Company operates in more than 120 countries and serves more than 125,000 customers through its international distribution network of over 12,000 channel partners and Managed Service Providers (“MSPs”).

The acquisition will significantly enhance Proofpoint’s ability to provide human-centric security to small and mid-sized businesses (“SMBs”) globally through MSPs, further enabling all organisations to protect their people and defend their data. By combining Proofpoint’s global leadership with Hornetsecurity’s deep expertise in the MSP ecosystem, the two companies will together advance their shared mission to help protect organisations of all sizes and the people behind them.

“Hornetsecurity’s AI-powered security platform enables thousands of MSPs to deliver enterprise-grade protection to their SMB customers across Europe,” said Daniel Hofmann, founder and CEO of Hornetsecurity. “With the breadth of human-centric risks only growing, joining Proofpoint is a natural next step in our journey to build the strongest global offering of M365 security services. By coming together, we can better serve our partners and customers and extend that protection globally to help MSPs safeguard their customers’ people, data, and operations.”

Hornetsecurity will bring a high-performing business into the Proofpoint portfolio with over $160 million in annual recurring revenue (“ARR”), more than 20 percent year-over-year growth, and performance above the Rule of 60.

Verdane invested in Hornetsecurity in 2016 with PSG investing in 2020 and TA becoming a shareholder in 2022. Since 2016, the company has completed nine acquisitions to expand its cloud cyber security offering, adding cloud back-up solutions and security awareness training, among others.

“Over the past three years, it has been a privilege to collaborate with Hornetsecurity’s talented and impressive team, working closely with PSG and Verdane to build on the company’s leading position. We’re proud of what we’ve accomplished together, and believe Hornetsecurity is well-equipped to further extend its reach and impact as part of Proofpoint,” said Morgan Seigler, Managing Director at TA, and Stefan Dandl, Director at TA.

“We are proud to have supported Daniel Hofmann and the entire Hornetsecurity management team since our initial investment in 2020, scaling the business more than tenfold through a critical phase of growth alongside TA and Verdane. Hornetsecurity is exactly the kind of business that PSG likes to partner with and reflects our strong conviction in cybersecurity, the robust potential of the industry and structural tailwinds driving demand for next-generation cyber security solutions. It has been a privilege to support the Hornetsecurity team on its journey to becoming a European leader and now global cybersecurity champion. We are confident the company is exceptionally well-positioned for its next chapter of growth” said Dany Rammal, Managing Director and Head of PSG in Europe, and Christian Stein, Managing Director.

“Our journey with the Hornetsecurity team began in 2016 with the ambition to create a leader in what is today an AI-powered M365 security platform. It has been a great privilege to work with and support Daniel Hofmann and the Hornetsecurity team over the years through multiple acquisitions and reinvestments from Verdane. We are very pleased with this outcome welcoming Proofpoint as new owners”, said Emanuel Johnsson, Partner at Verdane.

The acquisition is expected to close in the second half of 2025, subject to customary closing conditions.

Arma Partners acted as exclusive financial advisor to Hornetsecurity, TA, PSG and Verdane. Latham & Watkins acted as legal counsel to Hornetsecurity and Hengeler Mueller acted as legal counsel to the management of Hornetsecurity.

About Hornetsecurity Group
Hornetsecurity is a leading global provider of next-generation cloud-based security, compliance, backup, and security awareness solutions that help companies and organisations of all sizes around the world. Its flagship product, 365 Total Protection, is one of the most comprehensive cloud security solutions for Microsoft 365 on the market. Driven by innovation and cybersecurity excellence, Hornetsecurity is building a safer digital future and sustainable security cultures with its award-winning portfolio. Hornetsecurity operates in more than 120 countries through its international distribution network of 12,000+ channel partners and MSPs. Its premium services are used by more than 125,000 customers. For more information, visit www.hornetsecurity.com.

About Proofpoint
Proofpoint, Inc. is a leading cybersecurity and compliance company that protects organisations’ greatest assets and biggest risks: their people. With an integrated suite of cloud-based solutions, Proofpoint helps companies around the world stop targeted threats, safeguard their data, and make their users more resilient against cyber-attacks. Leading organisations of all sizes, including 85 percent of the Fortune 100, rely on Proofpoint for people-centric security and compliance solutions that mitigate their most critical risks across email, the cloud, social media, and the web. More information is available at www.proofpoint.com.

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Algoma raises $2.3M Seed for its AI-native real estate development platform

SOSV

We’re thrilled to announce that Algoma, a participant in our HAX startup development program has secured a $2.3M Seed round led by Zacua Ventures, with participation from SOSV, Iron Prairie Ventures, DOMiNO Ventures, Compose VC and a network of angel investors across AI, construction, and real estate.

Real estate is the world’s largest asset class, globally valued at over $600 trillion, yet much of it still runs on manual labor and outdated processes. The pain is most acute during pre-construction, where developers must navigate high-stakes decisions with fragmented information and little transparency.

Algoma’s AI-native real estate development platform helps developers turn an address into a deal, accelerating confident decision-making abilities by delivering site feasibility in minutes and at the fraction of the cost as traditional methods.

The Algoma platform includes:

  • Instant zoning analysis
  • Market intelligence
  • Site-specific design massing
  • Unit mix and layouts
  • Pro-forma generation
  • Visualization for investors and agencies

Algoma’s founding team blends deep domain expertise across real estate, AI, and strategy:

  • Josef Bromovsky, CEO, has spent his career building technology at some of the world’s largest construction and infrastructure firms, focusing on digitizing early-stage planning and design.
  • Kyle MertensMeyer, Chief Product Officer, is an award-winning design architect and AEC Entrepreneur whose design work spans five continents, focusing on materiality and sustainable systems.
  • Seyfihan Usarer, COO, is a former McKinsey consultant and member of TikTok’s Monetization Strategy Team, with a background in leading digital transformations and scaling digital platforms.

Kira Colburn

See their press release here and more in Tech Funding News.

READ COMPLETE ARTICLE

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Stonepeak and Energy Equation Partners to Acquire Majority Interest in JET from Phillips 66

Stonepeak

LONDON & HOUSTON – May 15, 2025 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and Energy Equation Partners (“EEP”), a newly formed investment firm with significant expertise in fuel retail, today announced an agreement to acquire a majority interest in JET Tankstellen Deutschland GmbH (“JET”), a leading fuel retailer in Germany and Austria, from a subsidiary of Phillips 66 (NYSE: PSX), in a transaction valuing the business at an enterprise value of approximately €2.5 billion. Phillips 66 will retain a 35% minority interest in JET as part of the transaction through a newly formed joint venture.

JET is one of the largest fuel retailers in Germany and Austria, serving more than 700,000 customers daily with quality products at fair prices through a network of 970 service stations. Located primarily in urban and high-traffic areas, JET also operates convenience stores, car washes and a rapidly growing EV charging network. JET has been named Germany’s most popular gas station brand by YouGov Deutschland for 15 years in a row.

“We are pleased to partner with Phillips 66 and Stonepeak to build on the strong foundation of the JET platform,” said Javed Ahmed, Managing Partner of Energy Equation Partners. “Together with the outstanding JET team and its dedicated service station operators, we aim to strengthen JET’s leadership in both fuel and non-fuel retail across Germany and Austria. We are committed to supporting a seamless transition and continuing JET’s legacy as a key player in the evolving retail energy sector.”

“JET’s high-quality network of critical infrastructure assets is well positioned to continue reliably serving the needs of its customers over the long-term,” said Anthony Borreca, Senior Managing Director and Co-Head of Energy at Stonepeak. “Under Phillips 66’s ownership, JET has grown into one of the largest fuel retailers in Germany and Austria. We are excited to join forces with them, as well as Javed and the EEP team, who have long-standing experience investing in and operating retail fuel distribution and logistics globally, to support the next phase of JET’s growth.”

The transaction is expected to close in the second half of 2025, subject to customary regulatory approvals. Akin Gump Strauss Hauer & Feld LLP and Hengeler Mueller served as legal counsel to Stonepeak and EEP. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as financing counsel to Stonepeak and EEP.

About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $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, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit www.stonepeak.com.

About Energy Equation Partners
Energy Equation Partners is an energy specialist investment firm that seeks to invest in companies that are well established in the energy sector and have the potential to play a valuable role in the shift from “brown to green”. Over the past two decades, the principals of EEP have deployed over $10 billion of equity capital across the energy value chain globally and have significant experience in fuel retail.

Contacts

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

For Energy Equation Partners:
Sari Haidar
sari@energyequationpartners.com
+44 75 5112 5113

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Main Capital backed TMA acquires US based Decisionwise

Main Capital Partners

TMA’s acquisition of DecisionWise enhances talent management solutions, expands cross-Atlantic reach, and strengthens growth, serving 450 clients in 75 countries.

The Hague, May 15th 2025 – TMA announces its acquisition of DecisionWise, a US-based provider of cloud-based employee feedback and engagement solutions. The combination between TMA and DecisionWise creates a cross-Atlantic player within the talent management and engagement market. This investment marks TMA’s first acquisition since the partnership with Main Capital Partners in December 2024.

Founded in 1996 and headquartered in Springville, Utah, DecisionWise is a provider of employee experience surveys, employee engagement and a 360-degree feedback platform. The company serves approximately 450 clients across 70+ countries with 20% software growth. The solutions are sector agnostic and used by customers active across education, government, manufacturing, and healthcare, among other industries. Customers include Dropbox, City of Seattle, Avocados from Mexico, Standford University, ChildFund, American Automobile Association, and Fidelity International.

TMA is a provider of talent management solutions in the HR software space. TMA’s integrated talent management platform enables customers to manage human capital through assessments and other employee development solutions across the pre- and post-hiring phase. By combining strong industry expertise, market knowledge, and the latest IT developments, TMA has developed the scientifically based ‘TMA Method.’

The solutions provided by TMA & DecisionWise are complementary. The combination offers customers tools to manage and retain talent by identifying and tracking performance, engagement, and overall satisfaction. TMA’s strategy is to offer customers all tools to optimally position employees for long-term success. Talent management is one piece of this puzzle and employee experience is another key piece. Customers worldwide rely on both TMA and DecisionWise software solutions. Together, the combined solutions are used in 75 countries and continue to experience strong annual software growth of over 20%.

TMA maintains a global customer base but will be able to better serve North America and specifically United States-based customers.

– Charly Zwemstra, Managing Partner & CEO at Main

Charly Zwemstra, Managing Partner & CEO at Main, “We are very pleased to announce this major strategic step for TMA in becoming a global talent management player. Talent management remains a top priority for employers who face daily talent-related challenges. Talent retention post-identification is also crucial for organizations, and Employee Experience plays an important role in achieving this objective. This combination allows TMA to not only expand its product offering, but also its geographical coverage. TMA maintains a global customer base but will be able to better serve North America and specifically United States-based customers while also providing a more extensive product offering to customers based in Europe and across the rest of the world.”

Bastian Müller, CEO of TMA, said, “We are thrilled to join forces with DecisionWise, and we see an excellent cultural and product fit that we’re excited to continue developing through the next stages of our growth. We fundamentally believe that happy employees create and drive performing organizations. In order to track employee happiness, employee experience is key and DecisionWise’s software perfectly serves those needs.”

Matthew Wride, CEO at DecisionWise, concluded, “We are looking forward to this new chapter for DecisionWise. We are very excited about the strong fit between TMA and DecisionWise and we expect to better serve our customers’ needs across the areas of talent management, employee experience management, and people analytics.

About TMA

TMA is a Dutch provider of talent management software founded in 1999. The company started as a profiling theory within Human Resource Management, which they developed into an innovative software solution. The company serves more than 600 customers globally and continues its growth towards becoming one of the leading providers of cloud-based talent management solutions.

About DecisionWise

DecisionWise is an American provider of Employee Experience (EX) solutions to businesses worldwide. Founded in 1996 and headquartered in Springville, Utah, DecisionWise is a provider of employee experience surveys, employee engagement solutions, and a 360-degree feedback platform. The company serves over 450 clients across +70 countries.

Nothing contained in this Press Release is intended to project, predict, gu

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Akido Raises $60 Million Series B to Expand Reach of ScopeAI, its Breakthrough Health Artificial Intelligence

Oak HC FT

Akido’s ScopeAI is a first-of-its-kind system that fully integrates AI into a provider visit

Akido Labs, Inc. (“Akido”), the AI and care delivery company reimagining healthcare, today announced it has raised $60 million in Series B funding. The round was led by Oak HC/FT with participation from Greco, SNR, and existing investors Y Combinator, Future Communities Capital, Jeff Dean (Chief Scientist, Google DeepMind & Google Research), and the Comprehensive Blood & Cancer Center. Funding will be used to expand the reach of ScopeAI, a system that increases clinical capacity and improves healthcare access.

ScopeAI is transforming how Akido providers practice medicine – enabling them to care for dramatically more patients without compromising on quality. This unlocks time for providers to focus on complex cases, while increasing the total number of patients the system can support. The U.S. population requires over 3 billion doctor visits per year, yet only 825 million are currently available. The result is longer waits, especially for specialists, rushed appointments, and rising rates of preventable disease. Akido is addressing this crisis by embedding powerful medical intelligence directly into the clinical workflow – bringing scale, efficiency, and consistency to the front lines of care.

“We built ScopeAI to tackle the single biggest challenge facing healthcare systems worldwide: the physician shortage. With demand for care far exceeding supply, AI is the key to addressing the global doctor deficit, empowering healthcare providers, and ensuring patients receive the timely, high-quality care they deserve, regardless of financial means or geography,” said Prashant Samant, Co-Founder & CEO of Akido. “At Akido, we believe exceptional healthcare is a basic human right. Our work has always focused on democratizing high quality healthcare, and this funding enables us to accelerate that mission.”

In a ScopeAI visit, a trained Medical Assistant (MA) meets with a patient, guided by intelligent prompts from ScopeAI throughout the encounter. ScopeAI uses clinical reasoning to actively listen, adapt in real time, and build a comprehensive understanding of the patient’s condition. Its scribing and auditory capabilities allow for dynamic conversation while simultaneously generating a full clinical report, including a preliminary diagnosis, treatment plan, and justification log for each decision it makes. With ScopeAI, providers gain a deeper, more complete picture of a patient’s health with less time spent capturing it. An Akido provider can oversee a team of MAs conducting ScopeAI visits, increasing access to care while enabling the provider to focus on higher-acuity or more complex cases.

Akido’s AI-based healthcare visits have delivered 5x more face-to-face time with patients and have achieved a 96 NPS score. With this new funding, Akido will accelerate the development and deployment of ScopeAI throughout its Akido Care medical network of 240 providers across 26 specialties. It will also help support Akido’s entrance into new markets like the recently announced first-of-its-kind healthcare program in New York City that is designed to address specific chronic diseases for professional rideshare and for-hire drivers.

“Akido is delivering on the promise of changing how patients experience a visit with their provider through AI,” said Andrew Adams, Co-Founder & Managing Partner at Oak HC/FT. “With its robust, longitudinal dataset, Akido has the refinement in its foundational model to offer clinical accuracy where others have struggled. We are excited to partner with their exceptional team of healthcare and technical operators to scale ScopeAI, expanding access to high-quality, AI-powered care for more patients.”

Akido was founded in 2015 with the goal of reimagining healthcare for historically vulnerable communities by leveraging AI and machine learning. In 2022, Akido launched Akido Care, a medical network that today includes nearly 100 clinics, offering primary and specialty care across 26 sub-specialties. This dual strategy is what created the opportunity for Akido to leverage its proprietary dataset of over 10 million patient case studies and reinforcement-loop-human-feedback (RLHF) environment to launch ScopeAI. ScopeAI is one of the most sophisticated clinical AI systems available to providers, and it is continuously refined by incorporating real-time provider feedback. By integrating ScopeAI into the Akido Care medical network, Akido is positioned to empower providers to deliver highly personalized care to an individual patient while also scaling programs at a population level.

About Akido

Akido is pioneering a reimagined healthcare system with AI at its core; one that bridges artificial intelligence and empathy to bring exceptional healthcare to everyone. Its breakthrough technology unlocks the ability to transform the clinical experience, empowering providers and patients through an entirely new healthcare model. Founded in 2015, Akido was created out of the University of Southern California’s Digital Health Lab with the idea that empowering government, healthcare, and nonprofit services with population-based data could help usher in a new era of preventive public health. Known for developing award-winning data and technology solutions, today Akido leverages its market-leading technology to power its bicoastal Akido Care medical network, which includes more than 240 providers and 90 clinics across both coasts and a patient base of nearly half a million. For more information, please visit www.akidolabs.com.

About Oak HC/FT

Oak HC/FT is a venture and growth equity firm specializing in investments in fintech and healthcare. Using partnership as a foundation, Oak HC/FT guides companies and founders at every stage, from seed to growth, to create businesses that make a measurable and lasting impact. Founded in 2014, Oak HC/FT has invested in over 85 portfolio companies and has over $5.3 billion in assets under management. Oak HC/FT is headquartered in Stamford, CT, with an office in San Francisco, CA. Follow Oak HC/FT on LinkedIn and X and learn more at https://www.oakhcft.com/.

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EQT completes sale of common stock of Kodiak Gas Services

eqt
  • The sale resulted in gross proceeds of c. USD126 million

An affiliate of the funds known as EQT Infrastructure III and EQT Infrastructure IV (“EQT”) is pleased to announce the completion of the sale (the “Sale”) of c. 3.2 million shares of common stock of Kodiak Gas Services, Inc. (NYSE: KGS) (the “Company”) for gross proceeds of c. USD116 million. The Sale was made on May 12, 2025, pursuant to Rule 144 of the Securities Act of 1933, as amended. J.P. Morgan Securities LLC acted as the broker for the Sale. Concurrently with the closing of the Sale, the Company repurchased c. 278,000 shares of its common stock from EQT in a private transaction for gross proceeds of c. USD10 million. Following these transactions, EQT now holds c. 31.3 million shares of the Company’s common stock.

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 Kodiak

Kodiak is a leading contract compression services provider in the United States, serving as a critical link in the infrastructure that enables the safe and reliable production and transportation of natural gas and oil. Headquartered in The Woodlands, Texas, Kodiak provides contract compression and related services to oil and gas producers and midstream customers in high–volume gas gathering systems, processing facilities, multi-well gas lift applications and natural gas transmission systems.

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Carlyle, SK Capital Partners and bluebird bio Amend Merger Agreement

Carlyle

Stockholders may elect to receive either $3.00 per share plus CVR of $6.84 per share in cash payable upon achievement of a net sales milestone or $5.00 per share with no CVR

SOMERVILLE, Mass.—(BUSINESSWIRE)—May 14, 2025—bluebird bio, Inc. (NASDAQ: BLUE) (“bluebird”), Carlyle (NASDAQ: CG) (“Carlyle”) and SK Capital Partners, LP (“SK Capital”) today announced they have amended their definitive agreement pursuant to which  Carlyle and SK Capital will purchase all of the outstanding shares of bluebird. Under the terms of the amended agreement bluebird stockholders can elect to receive either (x) the original offer of $3.00 per share in cash plus a contingent value right (“CVR”) of $6.84 per share in cash payable upon achievement of a net sales milestone or (y) $5.00 per share in cash. The amended offer price provides an alternative for stockholders who would prefer greater upfront cash consideration instead of the potential upside of the CVR. Any shares tendered for which no election is made will receive the original consideration of $3.00 per share in cash and a contingent value right per share.

The bluebird board of directors unanimously approved the amended agreement and recommends that all stockholders immediately tender their shares in support of the transaction.  The bluebird board of directors continues to believe that the transaction with Carlyle and SK Capital, as amended, represents the only viable option for stockholders to receive consideration for their shares. Absent a majority of stockholders tendering, bluebird is at significant risk of defaulting on its loan agreements with Hercules Capital, and it is extremely unlikely that stockholders would receive any consideration for their shares in a bankruptcy or liquidation.

In connection with the amended agreement, the expiration date of the tender offer has been extended to expire at one minute after 11:59 p.m., New York City time, on May 29, 2025. Equiniti Trust Company, LLC, the depositary for the Offer, has advised that as of the close of business on May 13, 2025, approximately 2,281,724 shares of bluebird common stock have been validly tendered and not properly withdrawn pursuant to the Offer.

Instructions for Stockholders:

  • Stockholders that have previously tendered their shares and elect to receive the original offer of $3.00 per share plus a CVR do not need to re-tender their shares or take any other action in response to this extension
  • Stockholders that have previously tendered their shares and wish to elect to receive $5.00 per share in cash must withdraw and re-tender their shares and complete and sign the letter of election and transmittal attached to the Offer to Purchase. Detailed instructions are available in the Offer to Purchase.
  • Stockholders that hold shares of bluebird through a broker or other nominee may be subject to a processing cutoff that is prior to the tender deadline, so it is important to act now.
  • Stockholders who need assistance with tendering their shares of bluebird may contact the Information Agent, Innisfree M&A Incorporated, by calling toll-free at (877) 825-8793.

As previously announced on May 5, 2025, Carlyle and SK Capital have received all required regulatory approvals to complete the transaction, and all parties expect the transaction to be consummated promptly following the successful completion of the ongoing tender offer.

About bluebird bio, Inc.

Founded in 2010, bluebird has been setting the standard for gene therapy for more than a decade—first as a scientific pioneer and now as a commercial leader.  bluebird has an unrivaled track record in bringing the promise of gene therapy out of clinical studies and into the real-world setting, having secured FDA approvals for three therapies in under two years.  Today, we are proving and scaling the commercial model for gene therapy and delivering innovative solutions for access to patients, providers, and payers.

With a dedicated focus on severe genetic diseases, bluebird has the largest and deepest ex-vivo gene therapy data set in the field, with industry-leading programs for sickle cell disease, ß-thalassemia, and cerebral adrenoleukodystrophy.  We custom design each of our therapies to address the underlying cause of disease and have developed in-depth and effective analytical methods to understand the safety of our lentiviral vector technologies and drive the field of gene therapy forward.

bluebird continues to forge new paths as a standalone commercial gene therapy company, combining our real-world experience with a deep commitment to patient communities and a people-centric culture that attracts and grows a diverse flock of dedicated birds.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Carlyle AlpInvest.  With $453 billion of assets under management as of March 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 2,300 people in 29 offices across four continents.  Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About SK Capital 

SK Capital is a transformational private investment firm with a disciplined focus on the life sciences, specialty materials, and ingredients sectors.  The firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value.  SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk.  SK Capital’s portfolio of businesses generates revenues of approximately $12 billion annually, employs more than 25,000 people globally, and operates more than 200 plants in over 30 countries.  The firm currently has approximately $9 billion in assets under management. For more information, please visit www.skcapitalpartners.com.

 

Additional Information and Where to Find It

This communication is not an offer to buy nor a solicitation of an offer to sell any securities of bluebird.  The solicitation and the offer to buy shares of bluebird’s common stock is only being made pursuant to the Tender Offer Statement on Schedule TO (as amended), including an offer to purchase, a letter of election and transmittal and other related materials, that Parent and Merger Sub filed with the SEC. In addition, bluebird filed with the SEC a Solicitation/Recommendation Statement on Schedule 14D-9 (as amended) with respect to the tender offer. Investors may obtain a free copy of these materials and other documents filed by Parent, Merger Sub and bluebird with the SEC at the website maintained by the SEC at www.sec.gov.  Investors may also obtain, at no charge, any such documents filed with or furnished to the SEC by (i) bluebird under the “Investors & Media” section of bluebird’s website at www.bluebirdbio.com or (ii) by Parent and Merger Sub by calling Innisfree M&A Incorporated, the information agent for the Offer, toll-free at (877) 825-8793 for stockholders or by calling collect at (212) 750-5833 for banks or brokers.

INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THESE DOCUMENTS, INCLUDING THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 OF BLUEBIRD AND ANY AMENDMENTS THERETO, AS WELL AS ANY OTHER DOCUMENTS RELATING TO THE TENDER OFFER AND THE MERGER THAT ARE FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY PRIOR TO MAKING ANY DECISIONS WITH RESPECT TO WHETHER TO TENDER THEIR SHARES INTO THE TENDER OFFER BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE TENDER OFFER.

Investors & Media Contacts 

Bluebird 

Investors: 

Courtney O’Leary

(978) 621-7347

coleary@bluebirdbio.com

Media: 

Jess Rowlands

(857) 299-6103

jess.rowlands@bluebirdbio.com

 

Carlyle 

Media: 

Brittany Berliner

(212) 813-4839

brittany.berliner@carlyle.com

SK Capital 

Ben Dillon

(646)-278-1353  

bdillon@skcapitalpartners.com

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CapMan Special Situations invests in assisted residential care

Capman

CapMan Special Situations invests in assisted residential care

The CapMan Special Situations I -fund invests in two providers of assisted residential care for the elderly, Nonna Group Oy and Aurahovi Oy, with the aim of building a leading nationwide operator in the sector.

Both companies offer tailored housing and care services to meet the diverse needs of the elderly. Nonna Group, founded in 2020, operates five units located in Rovaniemi, Oulu, Turku and Kuopio, with estimated revenue of approximately €5 million in 2024. Aurahovi, established in 2017, runs four units in Lieto, Huittinen, Uusikaupunki and Helsinki, with 2024 revenue of around €4 million.

By combining the two companies, CapMan Special Situations is forming one of Finland’s leading operators in the residential care sector, with a nationwide network of nine housing units and around 500 apartments.

“Assisted residential care addresses the growing need to provide seniors with meaningful daily life and tailored support. By bringing together two strong companies, we are laying the foundation for a nationwide operator with excellent potential for growth and societal impact. We look forward to working with the new management to drive the next phase of development and growth,” says Karri Keistinen, Investment Manager at CapMan Special Situations.

“Assisted residential care is a new service model that has gained strong support in regional welfare strategies. It is designed for seniors whose needs are not fully met by home care but who do not yet require round-the-clock support. Both companies have great potential, an excellent workforce and satisfied customers, providing a solid foundation for future success”, comments Jere Pessala, new CEO of Nonna Group and Aurahovi.

Investments in Aurahovi Oy and Nonna Group Oy constitute the seventh investment for the CapMan Special Situations I fund.

For more information, please contact:

Karri Keistinen, Investment Manager, CapMan Special Situations, +358 40 735 6593

Jere Pessala, CEO, Nonna Group & Aurahovi, +358 40 538 3834

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6.4 billion 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, 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 and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

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Julius Clinical and Peachtree BioResearch Solutions Merge to Form a Fully Integrated Global CRO with Increased CNS Capabilities

Ampersand

Zeist, Netherlands, May 14, 2025– Julius Clinical, a leading full-service Contract Research Organization (CRO) headquartered in the Netherlands (Zeist), and Peachtree BioResearch Solutions, a specialized CNS CRO based in the United States (Georgia), announce they have merged as a fully integrated clinical research organization. The merger combines scientific and operational excellence, an expanded international footprint and increased capabilities across therapeutic areas, particularly within CNS.

Building on nearly a decade of successful collaboration between the two companies, the merged organization creates a comprehensive clinical CRO, bringing together extensive expertise in managing Phase I – III clinical trials with particular depth in central nervous system (CNS), cardio-metabolic, renal and rare diseases. Their combined strength delivers end-to-end clinical research services, enhanced global access in Europe and North America, and robust scientific expertise tailored to pharmaceutical-, biotech-, and medical device companies.

“We are thrilled to merge with Peachtree BioResearch Solutions,” says Martijn Wallert, Chief Executive Officer of Julius Clinical. “This marks a significant step forward in expanding our presence and deepening our capabilities across North America and Europe. This natural evolution of our long-term successful relationship allows us to leverage our aligned strengths to become a more versatile and capable partner for our clients.”

“This merger represents a transformative opportunity for Peachtree, our dedicated team, and the clients we serve,” says Kristy Nichols, Chief Executive Officer of Peachtree BioResearch Solutions. “By joining forces with Julius Clinical, we are significantly expanding our capabilities, offering our clients access to an established international network while preserving the personalized approach we are known for.”

This strategic move, combining global reach with the flexibility of a highly specialized provider, positions Julius Clinical and Peachtree BioResearch Solutions to better address the increasing complexity and borderless nature of modern clinical research as they work together with innovators to advance therapies to patients worldwide.

Julius Clinical is supported by Ampersand Capital Partners, a leading private equity firm specializing in growth equity investments in the life sciences and healthcare sectors.

 

About Julius Clinical

Founded in 2008 and headquartered in Zeist, The Netherlands, Julius Clinical is a leading CRO specializing in central nervous system, cardio-metabolic, renal, and rare diseases. With over 380 clinical trials and 220,000+ subjects across 39 countries, Julius Clinical combines scientific leadership, operational excellence, and a global network of research sites to deliver tailored solutions for pharmaceutical, biotechnology, and partners. For more information, visit https://www.juliusclinical.com or follow us on LinkedIn.

About Ampersand Capital Partners

Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with $3 billion of assets under management, dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA, and Amsterdam, The Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit https://ampersandcapital.com or follow us on LinkedIn.

About Peachtree BioResearch Solutions

Founded in 2008, Peachtree BioResearch Solutions, Inc. is a Clinical Research Organization that specializes in providing clinical development services for emerging to mid-sized biotechnology, pharmaceutical, and medical device companies. With a highly experienced clinical development team, Peachtree offers Clinical Project Management, Clinical Monitoring, Medical Monitoring, Biometrics, Technical Report Writing, Quality Assurance, and Clinical Staff Resourcing. Peachtree has grown its portfolio to over 65 clients providing services ranging from niche projects to full-service support. For additional information, visit https://peachtreebrs.com or follow us on LinkedIn.

Peachtree BioResearch Solutions

 

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