Category Archives: News

Nvidia-backed robotic manufacturing startup taps new CEO with an eye to AI

Eclipse

The Scoop

Bright Machines, a robotic manufacturing startup with backing from Nvidia, Microsoft and venture firms like Eclipse and Lux Capital, has named a new CEO as the company expands into the rapidly growing AI market, the company told Semafor.

Former Cisco executive and McKinsey veteran Chris Stori will take over the reins from co-founder and interim CEO Lior Susan.

“Stori’s extensive experience propelling companies like Meraki from millions to billions of dollars in revenue is a testament to his ability to lead and scale a complex organization,” Susan said in a statement to Semafor.

Bright Machines was founded in 2018 by a group of executives from AutoCAD maker Autodesk and Flex, a contract manufacturing giant. The aim was to use the combination of AI and robotics to create a multi-purpose, automated manufacturing system that it dubbed “micro-factories.”

They wanted to make robots easier to reprogram and more flexible compared to traditional robots used in manufacturing, which are expensive and time-consuming to set up and then can only be used for one purpose.

The company was originally set up to assemble and inspect electronic devices. But its robots have been successful making data center equipment used in the rapidly expanding AI market, the company said. “The expertise of the staff across multiple domains puts Bright Machines at the forefront of the AI and manufacturing space,” Stori said in a statement.

In June, it announced a $126 million series C investment round that included Nvidia and Microsoft. The fundraise “highlights the intense pressure that large cloud compute providers are facing to scale AI infrastructure,” the company said at the time.

In Stori, the company says it’s bringing on a CEO that has experience in enterprise networking and manufacturing.

Stori was general manager for Cisco’s Enterprise Networking, Meraki, and IoT division. At McKinsey, he advised US manufacturing and industrial companies on expanding into international markets, according to Bright Machines.

Bright Machines’ micro factories look like a string of futuristic phone booths. Inside, robotic arms, cameras and other instruments and tools work together to assemble server boards and other electronics.

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The IMV Technologies Group acquires UD Vet B.V

Montagu

IMV Technologies has announced the acquisition of UD-Vet B.V. UD-Vet are a leading provider of Veterinary practice equipment and other veterinary imaging modalities, based in Utrecht, Netherlands and Brussels, Belgium with a reach throughout the Benelux region. Under the leadership of Remon van Rijn, the business has developed into the leading veterinary supply and imaging business in the Benelux region. Remon comments that “we are very excited to be joining the IMV Technologies group to help us grow our business and provide an enhanced offering of products and services to our loyal clients throughout the region, IMV Technologies provides us with a clear vision towards a successful future”.

IMV Technologies provides us with a clear vision towards a successful future.

Remon van Rijn, Director, UD-Vet B.V

Alain de Lambilly; CEO of IMV Technologies, adds “UD-Vet is an exciting business and we warmly welcome Remon and his team to IMV Technologies. We have been very impressed by the depth and breadth of the product and service offering and the dedication of the UD-Vet team to provide outstanding solutions for their clients across Benelux. At IMV one of our core values is Innovation and we see an amazing commitment at UD-Vet to ensuring their clients have the tools and knowledge to provide advanced animal care. UD-Vet will join our growing and successful Companion Animal business, consolidating our position in the Benelux region. They will bring additional experience and products and enable us to provide our existing clients a wider product offering”.

They will bring additional experience and products and enable us to provide our existing clients a wider product offering.

Alain de Lambilly, CEO, IMV Technologies

About IMV Technologies: IMV Technologies is the world leader in animal assisted reproduction biotechnologies. Founded in 1963, IMV Technologies, a French company, has subsidiaries and/or manufacturing facilities in Brazil, China, France, India, the Netherlands, Scotland, Spain, Belgium, Sweden and the United States. IMV Technologies operates leading brands in the areas of semen analysis, assisted reproduction, artificial insemination, and veterinary imaging. IMV Technologies’ Life Sciences Business unit, CryoBio System, manufactures and distributes equipment and supplies for human assisted reproduction and biobanking. For more information: www.imv-technologies.com

About UD-Vet: UD-Vet is the market leader in the provision of companion animal imaging equipment throughout the Benelux offering a broad portfolio of products and services to serve their clients. UD-Vet’s integral approach builds true partnerships with their clients, understanding the very specific needs of veterinary surgeons across the Netherlands and Belgium and providing them with the highest levels of service and support through a dedicated team of over twenty people. UD Vet was founded 10 years ago by Remon van Rijn who will remain focused on the growth of the business including the development of a services portfolio. For more information: https://www.ud-vet.nl/fr/ud-vet/

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Gladly secures $40M in funding led by AVP

AXA

Gladly secures $40M in funding led by AXA Venture Partners (AVP) and launches AI-powered unified customer service platform, transforming support into a revenue driver

Press release, San Francisco, September, 2024

Gladly, a leader in customer service innovation, has announced its groundbreaking unified Customer Service Platform, powered by advanced AI. The platform is set to disrupt the industry by replacing outdated ticket-based systems, enabling retailers and direct-to-consumer brands to offer seamless, personalized support that resolves support issues and drives customer loyalty and revenue. Recognizing the transformative potential of Gladly’s approach to customer service, venture capital firm AVP led a $40M funding round to fuel the company’s growth. AVP, known for backing high-growth, technology-driven companies, sees Gladly as a catalyst for change in the customer service industry. With this investment, Gladly is poised to help direct-to-consumer brands deliver exceptional, cost-effective customer experiences and redefine customer service as a strategic, revenue-generating asset.

The platform launch comes at a pivotal moment, as customer experience becomes a crucial differentiator for brands, and generative AI gains widespread adoption. While AI has recently been heralded as a solution for improving customer service efficiency, it has struggled to address two fundamental issues. First, legacy ticket-based systems leave agents without the comprehensive context needed to deliver personalized support, resulting in fragmented experiences and unresolved issues. Second, AI solutions bolted onto these outdated platforms may answer more queries but still lack complete customer history, leading to ineffective interactions and increased frustration when transitioning to human agents. Furthermore, add-on AI solutions can pose risks to brand integrity and operational safety.

Gladly’s AI-Powered Customer Service Platform addresses these challenges head-on. By centering every interaction around the customer rather than tickets, Gladly enables AI to provide more accurate, human-like responses, while equipping agents with the context they need to be more effective. This seamless integration of Gladly’s Gen AI capabilities with its core platform not only mitigates the risks associated with AI implementations but also guarantees a consistently high-quality customer experience, whether driven by AI or human agents.

“In today’s challenging retail environment, where customer loyalty is hard-won and easily lost, our AI-powered, unified Customer Service Platform is a game-changer. It not only enhances customer experience but turns support into a strategic asset that drives growth and loyalty,” said Joseph Ansanelli, CEO of Gladly.

Gladly’s Customer Service Platform aggregates all customer interactions, regardless of channel, into a single lifelong customer record that powers both AI and agent-led support, leading to more personalized and efficient service. Gladly accelerates agent efficiency by automating routine inquiries, allowing agents to focus on high-value customer interactions such as cross-selling and upselling opportunities. Gladly also employs rigorous quality control of its AI offering, with features such as the ability to configure AI behavior to specific tone and guidelines, and advanced hallucination detection technology that ensures all AI-generated content remains factual and relevant. Gladly’s customers achieve faster resolutions, reduced agent handle times, and realize higher CSAT scores.

“Gladly is solving critical challenges in how customer service is delivered,” said Alex Scherbakovsky, General Partner at AVP. “With its people-centered product philosophy, nextgen AI offerings, and experienced go-to-market leadership, Gladly is poised to transform the multi-billion dollar customer service market.”

With this new unified platform, Gladly is inviting retailers and direct-to-consumer brands to redefine what’s possible in customer service. By transforming support teams into growth drivers, Gladly is setting a new standard for the industry. To learn more about how Gladly can help your business turn customer service into a competitive advantage, visit gladly.com.

About Gladly

Gladly is the AI-powered, people-centered Customer Service Platform built to navigate the rapidly evolving consumer landscape. Its unique approach focuses on customers and not tickets, ensuring faster resolutions and more meaningful connections that boost customer loyalty and lifetime value.

Hundreds of iconic brands, including Nordstrom and Warby Parker, trust Gladly, achieving consistently high customer satisfaction scores, with some reporting up to 470% yearly ROI and a 45% reduction in handle times. With Gladly, businesses can deliver the radically personal service their customers deserve, while maximizing operational efficiency— transforming customer service into a powerful engine for growth, loyalty, and competitive advantage.

About AVP

AVP is a global venture capital firm specializing in high-growth, technology-enabled companies, managing more than $2 billion in assets across four investment strategies: Venture, Growth, Late Growth, and Fund of Funds. Since its establishment in 2016, AVP has invested in more than 60 technology companies in Venture and Growth stages in the US and Europe. With offices in New York, London, and Paris, AVP supports companies in expanding internationally and provides portfolio companies with tailored business development opportunities to further accelerate their growth. For more information about AVP, please visit www.axavp.com.

Contact: Sébastien Loubry, Partner Business development (sebastien@axavp.com)

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Digital Adoption Platform Whatfix Raises $125M

Eight Roads

Our partner company Whatfix, a global leader among digital adoption platforms (DAPs), today announced their $125 million Series E funding round, led by Warburg Pincus, with participation from existing investor SoftBank Vision Fund 2.

Our India Ventures team first invested in Whatfix in 2019 as part of their Series B round along with our U.S. based sister fund F-Prime Capital. Through the years we have continued to double down over subsequent funding rounds and today we have made a partial exit.

Khadim Batti, CEO & Co-founder of Whatfix said, “Enterprises are grappling with the complexities of digital transformation and the ever-increasing pressure to deliver exceptional user experiences. Whatfix’s innovation is evident through the launch of four new products since 2021, securing five US patents with 18 more in the pipeline. This investment will add more fuel to the tank, accelerating a new era of innovation for our industry, bolstering the unparalleled value we bring to our customers, and reshaping the future of software adoption.”

The investment will enable Whatfix to expand its category leadership and enhance its integrated product suite through organic growth and strategic acquisitions. The company also aims to expand its market presence in the US, EMEA, and APAC regions to strengthen its footprint in the global public sector.

Since its funding round in 2021, Whatfix has achieved remarkable growth, solidifying its position as a leader in the newly established DAP category. The company serves a marquee global clientele, including Cisco, Arrow Electronics, Schneider Electric, Avnet, Microsoft, Salesforce, Infosys, and Accenture, to name a few, who trust Whatfix to accelerate ROI on their technology investments.

Read more about the fundraise here

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KKR to Sell GeoStabilization International to Leonard Green & Partners

KKR

ll 900+ GSI Employee Owners to Earn Cash Payouts, with Longest Tenured Hourly Employees Each Receiving Over $325,000 in Proceeds

DENVER & NEW YORK–(BUSINESS WIRE)– KKR today announced an agreement to sell GeoStabilization International (“GSI” or the “Company”) to Leonard Green & Partners, L.P. (“LGP”). GSI is a leading provider of geohazard mitigation solutions and roadway safety services. The sale delivers a return of five times the equity invested by KKR, and all GSI employees will receive substantial cash payouts on their ownership stakes in the Company.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240926128753/en/

GSI employees react to the news of the cash payouts they will receive upon close of the transaction (Photo: Business Wire)GSI employees react to the news of the cash payouts they will receive upon close of the transaction (Photo: Business Wire)

“It has been an honor working alongside Dominic, the management team, and GSI’s many talented employees to build on the Company’s strong legacy of serving customers and driving innovation. Through our strategic partnership we have expanded the Company’s reach, added service capabilities, and delivered on our mission to protect the public from the dangers of geohazards – all while investing significantly in GSI’s employees and our communities,” said Brandon Brahm, Partner at KKR and Co-Head of KKR’s Ascendant Strategy. “This is a great outcome for all GSI employee-owners and our limited partners in KKR’s Americas XII Fund and demonstrates our ability to be value-added strategic partners with middle market sized businesses.”

Since KKR’s acquisition of GSI in December 2018, the Company has experienced significant growth resulting from KKR’s investments in the business, including in employees, business infrastructure, service expansion and corporate development, all of which contributed to a near tripling of revenue and EBITDA. Over this roughly six-year ownership period, the Company successfully grew its family of brands and services, including an expansion into complementary roadway safety services. GSI also significantly enhanced worker safety and increased its rate of delivery for customers.

“This transaction is a testament to our years of collaboration with KKR and also reflects the dedication and hard work of the entire GSI team. KKR catalyzed our all-employee ownership program, developing an ownership culture that has made us even stronger. We are very proud that all GSI colleagues will share in this fantastic outcome,” said Dominic Ivankovich, CEO of GSI.

As a result of GSI’s all employee ownership program, all of GSI’s more than 900 employees will receive cash payouts upon closing of the transaction. This includes GSI’s over 550 field service colleagues, with the payouts for employees joining before December 2023 ranging from three months to over three years of annual pay, depending on tenure and job level. Employees will also receive pre-paid personal financial coaching and tax preparation services.

“GSI is a prime example of what ownership cultures can accomplish within the services sector and speaks to the power of an engaged workforce. This tremendous outcome recognizes the work GSI’s employees have done to create value, not just for the company but for themselves,” said Pete Stavros, Co-Head of Global Private Equity at KKR. “GSI will be in great hands with LGP, a fellow partner in Ownership Works, who shares our deep commitment to ownership and will carry on this effort at GSI following the close of this transaction.”

Since 2011, KKR has implemented broad-based employee ownership and alignment programs throughout its portfolio, first pioneered by KKR’s U.S. Industrials private equity team and more recently expanding across all control investments within KKR’s Americas Private Equity franchise. To date, more than 50 KKR portfolio companies have awarded billions of dollars of total equity value to over 110,000 non-senior management employees.

KKR and GSI were advised by Harris Williams and UBS as M&A advisors, and Kirkland & Ellis as legal advisor on the transaction.

About GeoStabilization International

GeoStabilization International® is the leading geohazard mitigation firm operating throughout the United States, Canada, and New Zealand. GeoStabilization specializes in the design and implementation of emergency slope stabilization and landslide repair, rockfall mitigation, grouting, and road safety solutions include road departure barriers. GeoStabilization International’s team includes some of the brightest and most dedicated professionals in the geohazard mitigation and road safety industry. Their expertise, proprietary tools, and worldwide partnerships allow them to repair virtually any slope stability or foundation problem in any geologic setting. Please visit www.geostabilization.com for more information.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About LGP

Leonard Green & Partners, L.P. (“LGP”) is a leading private equity investment firm founded in 1989 and based in Los Angeles, California with over $70 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has completed over 150 investments in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, healthcare and business services, as well as distribution and industrials. For more information, please visit leonardgreen.com.

Media:

KKR
Liidia Liuksila or Emily Cummings
212-750-8300
media@kkr.com

Source: KKR

 

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Maven exits hospitality digital order and pay specialist QikServe

Maven

The sale of QikServe to The Access Group represents Maven’s fourth profitable exit in September.

Published: Sep 25, 2024
Focus: Growth Capital

We are delighted to announce that Maven has completed a profitable exit from Edinburgh-based QikServe through a sale to business management software provider The Access Group.

QikServe is a digital commerce platform, content management system, kiosk and mobile order and pay provider for the hospitality sector. Its comprehensive SaaS e-commerce platform last year processed over 50 million digital transactions for its hospitality partners across mobile, web and physical onsite kiosks, providing customers with a secure and frictionless way to order and pay in hospitality premises.

QikServe exit 2
The Maven VCTs first backed QikServe in 2016 to enable the business to rapidly roll-out its innovative offering to a hospitality industry which had begun to embrace technological solutions. The continued shift in consumer behaviour towards digital ordering and transactions, which has accelerated since the Covid-19 pandemic, has helped the business grow revenues by 65% CAGR over the last 3 years. QikServe’s technology is now deployed in over 8,000 bars, hotels, restaurants, sports stadiums and coffee shops across 44 countries around the world.

Maven provided QikServe with additional follow-on funding during its term, taking the VCTs’ total investment to £3.5 million and helping the business progressively scale. QikServe also completed the acquisition of Preoday in 2019, a complimentary provider of order-ahead technology, that brought strategic synergies and further accelerated growth. Headcount overall has grown fivefold since 2016.

The sale to The Access Group enables QikServe to partner with a large organisation with considerable worldwide reach and enable the business to leverage The Access Group’s software and technical expertise to continue its growth as part of an integrated hospitality suite of solutions.

“We’re thrilled with what we have been able to achieve alongside the management team at QikServe over the past eight years; entering new markets and further strengthening their proposition. In Access we have found a buyer that shares QikServe’s vision for the hospitality tech market and can support the business as it continues to scale globally. I would like to personally, and on behalf of Maven, thank the entire QikServe team and particularly CEO Tony Murphy, Founder and President Dan Rodgers, and Chairman Steve Tilly for their commitment and leadership, it has been a privilege working with them.”

David Milroy, Partner at Maven

“As CEO of QikServe, I’ve been working with the Maven team since 2019. Their investment in the business has been instrumental in driving our growth. But more than that, their ongoing commitment has ensured that the executive directors set the right strategy, drove consistent results, and dealt with the many challenges faced. I want to personally thank Maven, who have been strong and value-added partners throughout my tenure.”

Tony Murphy, CEO of QikServe

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Kleecks raised a € 6.5 million round backed by blacksheep, Axon Partners Group and Azimut’s vc funds

Axon

A new addition to Axon’s Italian portfolio: the Growth Equity fund specializing in investments in innovative companies is a Co-Lead Investor, along with the Italian fund BlackSheep and the Azimut Digitech Fund, under the advisory of FNDX, and Azimut Eltif – Venture Capital – ALIcrowd III of Azimut, in Kleecks’ €6.5 million round. Kleecks is an Italian startup that has developed a cutting-edge enterprise SaaS platform for optimizing website performance, helping maximize customer engagement. Kleecks already boasts an excellent track record and successful case studies, having worked alongside leading international brands, particularly in the luxury and fashion sectors, to optimize their digital channels.

With this investment, BlackSheep, Axon, and Azimut’s VC funds will support Kleecks in further developing its platform, consolidating its presence in target markets, and expanding into new business opportunities. Thanks to the funds’ established expertise in the software, marketing, and advertising sectors, as well as their managerial skills and international network, will actively contribute to implementing Kleecks’ growth plan, ensuring a rapid, solid, and strategic development.

With offices in London and Milan, Kleecks serves clients worldwide and has achieved excellent results in competitive markets such as the UK, France, the United States, and Japan. The platform handles significant volumes, managing over €1.5 billion in transactions for its clients and serving more than 8 million daily users.

Kleecks has developed an innovative platform based on advanced artificial intelligence and machine learning technologies, designed to optimize website and e-commerce performance without requiring back-end modifications. The platform operates directly on the front-end, enhancing critical aspects such as SEO, accessibility, site speed, and user experience. Through continuous 24/7 analysis in 50 languages, Kleecks constantly monitors competitors’ strategies, with a particular focus on keyword strategy, enabling brands to close any competitive gaps. The platform operates on the front-end, generating digital assets and providing data and insights to optimize content and performance. This ensures better search engine indexing, increased organic traffic, and higher conversion rates.Kleecks, which currently has around 30 employees, has shown year-over-year growth of over 70%, thanks to stable partnerships with more than 100 brands, including prominent international companies like Fendi, Bulgari (Luxury), Western Union (Finance), Gabel (Retail), Poliform, and Natuzzi (Design), among others.

Marco Bezzi, CEO and Founder of Kleecks: We are excited to continue our ambitious growth journey with the support of new strategic partners, including Axon and BlackSheep, with whom we share values and goals. This investment not only validates Kleecks’ value but also strengthens our belief that we can make a significant impact in the market. We are confident that together we will take Kleecks to a new level, reaching new markets and business opportunities, enabling us to offer increasingly effective solutions and positioning ourselves as a true game changer in the market

Francesco Terraneo, Head of Italy at Axon Partners Group stated: We are excited to announce our partnership with BlackSheep in the investment in Kleecks. We firmly believe that Kleecks has an exceptional future ahead, driven by an outstanding team. The international collaboration between the funds will support the company in further expanding its reach and positioning itself as a leading international player in the industry.

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Altor divests Nova Austral

On September 25, 2024, Nova Austral announced a debt restructuring of the company resulting in a change of ownership and exit by Altor.

Altor invested in the world-leading fish feed supplier Ewos with Bain Capital in 2013. The partnership aimed at strengthening the company’s position as a global market leader in salmon feed and identifying further opportunities to grow by focusing on R&D, developing higher quality feed and expanding into new markets. After a successful partnership, Altor and Bain Capital sold Ewos to Cargill in 2015. After the exit of Ewos in 2015, Altor remained invested in the fish farming industry through its ownership of Nova Austral in Chile.

“We began our journey with Ewos in 2013, a successful partnership with the company and co-investors to scale and strengthen their position. As we now, many years later, exit Nova Austral, we would like to extend a thank you to the management team and employees for their contributions and commitment over the years,” said Tom Jovik.

About Altor

Since inception, the family of Altor funds has raised more than EUR 11 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Permascand, Toteme, Trioworld, Carnegie and Vianode.

About Nova Austral

Nova Austral is a leading player in producing and processing sustainable salmon in the Chilean industry. It has operated in the Magallanes and Chilean Antarctica region for over 15 years.

Press contact

Karin Åström

Head of Communications

karin.astrom@altor.com

+46 707 64 86 59

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NPM Capital acquires interest in Jeco Energies

NPM Capital

Increased focus on growth via acquisitions and international expansion

Herentals/Ghent, 25 September 2024 – Investment company NPM Capital has agreed to acquire a significant minority interest in the Belgian family-owned company Jeco Energies, a leading industrial energy solutions provider in the Benelux. The participation of NPM Capital will accelerate the growth of Jeco Energies in the coming years through an increased focus on strategic acquisitions and international expansion. NPM Capital will contribute the required experience, expertise and capital in that area.

NPM Capital acquires interest in Jeco Energies

Jeco Energies is a leading player in the area of temporary as well as permanent solutions for industrial electrical power infrastructure. It rents hardware, including transformer containers built in-house, helping businesses to prevent unforeseen power outages or providing a temporary power solution until a permanent connection to the grid is established. The company also focuses on realising end-to-end projects for industrial energy supply in various sectors and is active in industrial service and automation. The company was established in 2022 as the result of the merger of hardware rental company Gens Rental, EPC contractor DSG, and industrial automation specialist Dymotec. As of today, the business will continue to operate under the name of Jeco Energies. It employs more than 200 people and has doubled its revenues over the last 2 years.

Sustainable future
’We are impressed by the strong growth realised by the company in recent years’, says Hiram Claus, investment director and head of Belgium for NPM Capital. ‘This investment is in line with NPM’s strategy of investing in sustainable businesses. Jeco’s engineered power solutions contribute to the electrification of industrial processes. Their unique expertise and position in the value chain, in combination with the structural demand for expansion of the electrical power grid, make Jeco Energies a powerful player in a rapidly growing market’.

Jeco’s founder and majority shareholder Jef van den Brande welcomes the participation of NPM Capital and sees it as an important step in the further development of Jeco Energies. ‘The expertise and professionalism of NPM will play an important role in the further development of our organisation within the various niches that we are active in. I am convinced that the synergy between our innovative way of working and the strategic support provided by NPM will enable us to propel Jeco Energies to new heights, locally as well as internationally’, he explains.

‘Same business values’
As part of the agreement, as of 1 October, Jan Van Nuffel will join the management team of Jeco Energies as Group CEO. Over the last three years, Van Nuffel was already involved as non-executive director. He gained extensive experience in previous management positions at construction companies Square Group, Group Verelst and Koninklijke BAM Group. Bob Zegers and the entire management team remain closely involved in the further development of the group.

Van Nuffel is looking forward to working together with NPM: ‘This partnership will further strengthen our operational clout and organic growth, including the accelerated expansion of our rental fleet, and certainly also via further external growth through acquisitions reinforcing our existing business lines. In NPM, we have found a partner with the same business values as Jeco: fostering sustainable growth and caring about our employees. It goes without saying that the expertise and technical excellence of all our Jeco colleagues play a vital role in the continued success of our organisation.’

Completion of the proposed transaction is subject to customary regulatory approval.

About NPM Capital
NPM is an independent investment partner that helps medium-sized and large companies with a head office in the Benelux to achieve their ambitions and build the businesses of the future. With offices in Ghent and Amsterdam, NPM focuses on family-owned enterprises and companies with a strong and dedicated management team. Its current portfolio consists of 24 companies, comprising both majority and minority participations, within themes that have an impact on the world’s future: Sustainable Future, Everything is Digital, Feeding the World, and Healthy Life & Learning. Earlier this year, NPM announced an investment in Belgian IT company Tech Tribes.

About Jeco Energies
Jeco Energies is a leading player in the area of low-voltage, medium-voltage, and high-voltage solutions for temporary as well as permanent industrial energy supply. With four business lines (energy, rental, automation and service), it enables its clients to focus on their core activities by providing them with end-to-end integrated sustainable energy solutions. Jeco Energies operates from seven sites in Belgium, the Netherlands and South Africa, serving clients in over 50 countries globally with a team of over 200 employees.

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For more information, please feel free to contact Koolhoven & Partners: npmcapital@koolhovenenpartners.nl or +31 804 017 175

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CAI Software, LLC Acquires Parsable, Inc., a Leading Connected Worker Platform for Manufacturers

Stg Partners

CAI Software, LLC, (“CAI” or “CAI Software”), a portfolio company of STG and a leader in industry-specific enterprise resource planning (ERP), manufacturing execution and supply chain solutions to manufacturers and distributors, today announced that they have acquired Parsable, Inc., a leading cloud-native Connected Worker platform used daily by global tier-1 manufacturers for production, maintenance, quality, safety and ESG.

“Combining CAI Software and Parsable brings digital instructions to manufacturers which layers in with their existing manufacturing execution and warehousing systems to drive production, quality, safety, and operational improvements,” said Brian Rigney, CEO of CAI Software. “As we bring the companies together, we will continue to collaborate with our customers to develop purpose-built solutions to serve the unique requirements of their industry. In our next chapter of growth, I look forward to working with the Parsable team and continuing to innovate the Parsable platform.”

“This marks a pivotal moment for our industry,” says Parsable CEO Matt Belkin. “Together with CAI, we’re setting a new standard, equipping frontline workers with innovative digital tools that elevate productivity, safety, and quality to new heights. This partnership propels us toward a future where manufacturing is more connected, agile, and transformative than ever before.”

“Parsable has been an early innovator and leader in the connected worker vertical and is mission-critical to daily operations of tier-1 manufacturers globally,” said Wesley Jiang, Vice President of STG. “Parsable will deepen CAI’s manufacturing capabilities in providing a comprehensive suite of ERP, supply chain and manufacturing solutions.”

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