Category Archives: News

Scopevisio partners with Hg to accelerate growth in DACH region

HG Capital

A German version of this press release can be found here.

Bonn, Germany. 14 March 2025: Scopevisio AG, a leading innovator in cloud-based business automation, today welcomes Hg as a new partner. Hg is a leading investor in European and transatlantic software and services businesses.

Founded in 2007 in Bonn, Germany, Scopevisio serves mid-sized companies and business groups, offering a highly integrated Holistic Business Automation Platform for Commercial Solutions, with a particular strength in finance and accounting. This platform is designed to automate and optimise key commercial functions including finance, sales, procurement, organisation, document management and human resources. The fully unified system automates business processes and enhances efficiency through artificial intelligence.

The transaction will see Hg partner with Dr. Jörg Haas, Scopevisio’s CEO and founder as joint shareholders in the business going forward. Hg brings a strong track record of backing software businesses in the ERP and accountancy space, having invested $28 billion over the past 20 years.

Dr. Jörg Haas, CEO and founder of Scopevisio, said:

“We’re thrilled to welcome Hg as our partner for Scopevisio’s next growth chapter. Their deep expertise in ERP and accounting software, and experience in scaling cloud businesses, makes them the ideal partner as we look to expand our presence across the DACH region. Together, we’ll accelerate product innovation and drive continued growth, while delivering exceptional value to our loyal customer base.”

With more than 7,500 customers, primarily in the service sector, and over 300 employees across its group of companies, Scopevisio has established itself as an award-winning provider with a best-in-class product and high customer loyalty.

Benedikt Joeris, Partner at Hg, said:

“Scopevisio sits right in our sweet spot, as a business with a compelling cloud-based product offering, high customer advocacy scores and strong recurring revenue. The DACH mid-market is picking up speed and embracing modern cloud solutions, creating an opportunity for significant growth potential. We’re excited to partner with the Scopevisio team, to help build on their impressive foundation and continue scaling the business.”

The transaction is subject to customary closing conditions. Terms of the transaction are not disclosed.

For further information, please contact:

Scopevisio

Özlem Doger-Herter
oezlem.doger-herter@scopevisio.com

Hg

Tom Eckersley
tom.eckersley@hgcapital.com

Sam Ferris
sam.ferris@hgcapital.com

About Scopevisio

Scopevisio AG develops and operates a cloud-based business automation platform covering Finance, ERP, CRM, HCM, Payroll, POS, BI, and Organization. Designed for mid-sized companies across various industries, it simplifies and automates business processes while enabling seamless cross-location and cross-departmental collaboration.

Headquartered in Bonn, Germany, Scopevisio employs over 300 people in Germany and Austria and serves more than 7,500 customers with its innovative solutions.

About Hg

Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers. This industry is characterised by digitization trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come.

Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.

With a vast European network and strong presence across North America, Hg’s 400 employees and around $75 billion in funds under management support a portfolio of around 50 businesses, worth over $160 billion aggregate enterprise value, with around 115,000 employees, consistently growing revenues at more than 20% annually.

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KJTS and Stonepeak Form Joint Venture to Pursue District Cooling Projects

Stonepeak

KUALA LUMPUR & NEW YORK – March 14, 2025 – KJTS Group Berhad (“KJTS” or the “Group”) (KLSE: KJTS), a leading provider of energy-efficient cooling solutions and integrated energy management services based in Malaysia, and Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the creation of a joint venture dedicated to developing and investing in district cooling facilities.

The joint venture will initially seek to invest in a diversified portfolio of district cooling and electricity distribution assets in Malaysia. Southeast Asia, one of the hottest regions globally, is a fast-growing market for district cooling. Particularly in Malaysia, industrial urbanization, expanding energy efficiency initiatives, and the rapid buildout of data centers have markedly increased the need for district cooling systems, which are able to reduce total energy consumption by 40-50% relative to traditional cooling methods. The joint venture, expected to be capitalized at MYR 1.5 billion (USD ~340 million), through aggregate commitments from Stonepeak and KJTS and debt funding, will target an actionable addressable market of over MYR 2 billion (USD ~450 million) in project deployment opportunities per year.

“We are thrilled to partner with Stonepeak to pursue additional district cooling and electricity distribution projects in Malaysia,” said Azura Binti Azman, Independent Non-Executive Chairman at KJTS. “This marks a significant partnership that underscores our commitment to sustainability and energy efficiency, and a transformative milestone, enabling the Group to accelerate its growth trajectory while advancing our mission to support the national agenda in reducing carbon emissions. Stonepeak represents an ideal partner, bringing important capital, industry relationships, and operational experience in building platforms from the ground up. We look forward to working together to bring dependable, long-term solutions to our customers.”

“District cooling has become an essential piece of the energy transition in Malaysia and Southeast Asia more broadly, given the region’s rising energy demands, and we are seeing the solution being adopted into national climate action plans for many Southeast Asian countries,” said Hajir Naghdy, Senior Managing Director and Head of Asia and the Middle East at Stonepeak. “By partnering with KJTS, a respected operator in Malaysia with a keen understanding of the technicalities and best practices of district cooling, we are positioned well to address the need for this critical infrastructure head-on. We are excited to expand Stonepeak’s portfolio of energy transition platforms within our Asia Infrastructure strategy as the tailwinds in the region remain as strong as ever.”

The transaction is expected to close in the first quarter of 2025. Skrine served as legal counsel to KJTS. Linklaters LLP and Rahmat Lim & Partners served as legal counsel to Stonepeak.

About KJTS

KJTS Group Berhad (KLSE: KJTS) is a leading provider of district cooling solutions and standalone building cooling systems, specializing in the design, construction, operation, and optimization of energy-efficient cooling infrastructure. With extensive expertise in developing large-scale district cooling plants and customized cooling solutions for commercial, industrial, and mission-critical facilities, KJTS delivers integrated energy management services that enhance operational efficiency and sustainability. The company’s in-house capabilities in Engineering, Procurement, Construction, and Commissioning (EPCC) ensure seamless project execution, while its Operations & Maintenance (O&M) services guarantee long-term reliability and cost savings for clients. Headquartered in Malaysia, KJTS is committed to advancing energy transition goals by deploying innovative cooling technologies that drive carbon reduction, support urban development, and optimize industrial performance. For more information, please visit www.kjts.com.my.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $72 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, and Abu Dhabi. For more information, please visit www.stonepeak.com.

Contacts

Stonepeak
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (212) 907-5100

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Nordstjernan sells Nordstjernan Growth AB

Nordstjernan

Nordstjernan has entered into an agreement to sell Nordstjernan Growth AB. Since its inception in 2021, this business has had the ambition to explore and make investments in technology-intensive growth companies. Nordstjernan Growth currently has five holdings in which it acts as a minority owner: Mentimeter, Roaring, Insurello, Zimpler and Oden Technologies.

Nordstjernan Growth is now being sold to a company co-owned by Caspar Callerström and Thomas von Koch.

“We are pleased that the holdings in Nordstjernan are finding a new good home. We are happy to invest in software companies going forward, but we want to make investments at our normal investment level, which is SEK 500 million and above. That is significantly more than the investments currently in the Growth portfolio. I would like to thank all partners and employees in the five companies for all their hard work, good cooperation and we wish them all success in the future,” says Johan Lilliehöök, CEO of Nordstjernan. “The Nordstjernan Growth portfolio contains exciting tech companies, all with a clear connection to Sweden and driven by innovative digital solutions and scalable business models. We look forward to further developing the companies to the next level with a focus on growth and international expansion,” say Caspar and Thomas in a joint comment.

For questions, contact Tor Krusell, Head of Communication Nordstjernan: +46 70 543 87 47

For questions to the new owners, contact: Emanuel Lang, Chief Investment Officer at Kramerica Industries AB:

emanuel@kramerica.se Nina Nornholm, Operating Partner at TomEnterprise AB:

nina.nornholm@tomenterprise.com

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Piraeus Bank to acquire Ethniki Insurance from CVC

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CVC Capital Partners

Further to the announcement on 06 February 2025, Piraeus Financial Holdings S.A. informs the investment community that its subsidiary Piraeus Bank S.A. (“Piraeus”) has entered into a Share Purchase Agreement (hereinafter “SPA”) to acquire 90.01% stake in the parent company of Ethniki Insurance (the “Transaction”) from CVC Capital Partners Fund VII.

As per the signed SPA, the consideration for the Transaction is €600mn in cash, on a 100% basis.

The Transaction is expected to further diversify the revenue sources of Piraeus, enhancing value creation for shareholders, while it will complement our product range, covering the whole spectrum of banking, protection and investment solutions.

The Transaction is accretive for Piraeus in Earnings per Share (EPS) by circa 5% and Return over average Tangible Book Value (RoaTBV) by circa 1 percentage point and it elevates fee generation to international best-in-class levels, while retaining our competitive cost efficiency aspiration.

Based on the above, and including a 50% distribution payout out of 2025 results and onwards per annum, Piraeus’ proforma total capital position is estimated at circa 18.5% for 2025, anticipated to reach circa 19.5% by 2027 and circa 20% by 2028. This impact translates into a capital ratio with a comfortable Pillar 2 Guidance buffer of circa 250bps in 2025, evolving to above 300bps by 2027 and close to 400bps by 2028. Throughout the period, Piraeus’ CET1 ratio is expected to sustain a level of 13% and higher.

Piraeus intends to achieve a Financial Conglomerate (FICO) status and pursue the application of CRR article 49 (commonly referred to as Danish Compromise) in relation to the prudential treatment of its participation in the share capital of Ethniki Insurance, which, if attained, would expand further our CET1 ratio by circa 50bps.

Ethniki Insurance is a leading composite insurer in Greece, covering the whole spectrum of insurance products with a circa 14.5% market share (circa 17% in life / circa 11% in non-life) and more than €0.8bn Gross Written Premiums (“GWP”), as of 2024.

Ethniki Insurance has €4bn total assets and €0.4bn shareholders’ equity, as of 2023. Ethniki Insurance reported a profit before tax adjusted for non-recurring items of approximately €100mn in 2023 (latest public data).

Ethniki Insurance’s production network extends throughout Greece and consists of owned sales network offices and corporate network insurance agents, as well as collaborating insurance agencies and insurance brokers. The GWP generated by the aforementioned channels comprise the vast majority of the Ethniki Insurance total production, with the remaining coming from its bancassurance channel.

The Transaction is subject to the approvals of the competent regulatory bodies

Piraeus is being advised on the Transaction by UBS Europe SE as exclusive financial advisor, Milliman as actuarial advisor, and by Milbank LLP, as well as Moratis Passas Law Firm and Potamitis Vekris Lawfirm, as international, local legal and competition counsels, respectively.

Disclaimer

Forward looking statements

This release contains forward-looking statements, including, without limitation, statements regarding the potential benefits of the contemplated transaction, expected synergies and the anticipated capital impact. These forward-looking statements are based on the current expectations of Piraeus and are subject to various risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Factors that could cause or contribute to such differences include, but are not limited to, the granting of regulatory approvals, to unforeseen operational challenges or changes in market conditions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, without any obligation by Piraeus to update regarding any future developments. This announcement does not constitute an offer to buy or the solicitation of an offer to sell any securities.

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IK Partners to invest in Seventeen Group

IK Partners

IK Partners (“IK”) is pleased to announce that the IK Partnership III (“IK PF III”) Fund has signed an agreement to acquire a minority stake in Seventeen Group (“Seventeen” or “the Group”), a leading independent insurance and risk management organisation in the UK, from the founding shareholders and management team. This transaction represents IK’s first investment in the UK Insurance market, building on a well-established track record of supporting similar businesses across Europe. Financial terms are not disclosed and completion of the transaction is subject to customary regulatory approvals.

Founded in 1982 and headquartered in London, UK, Seventeen is a multi-disciplinary insurance group which provides a comprehensive range of services, including broking, underwriting, risk and claims management.

The Group comprises:

  • James Hallam, a UK-wide brokerage platform focused on serving commercial, personal, specialty and high-net-worth clients domestically and globally.
  • Touchstone, a specialist independent managing general agency servicing more than 550 brokers.
  • London Re, a joint venture with MRH Trowe and domiciled in Düsseldorf, Germany.

At present, Seventeen operates from 25 offices across the UK, DACH and the Isle of Man, collectively managing around £400 million in premiums.

The investment represents a major milestone in Seventeen’s history. With the support of IK, the Group aims to further accelerate its growth, enhance innovation and leverage technology to capitalise on attractive opportunities in new and existing markets — all while staying true to the core values that have shaped the business to date.

Paul Turner, Executive Chairman and Paul Anscombe, CEO, said: “Seventeen Group is proud to be the UK’s longest-serving independent insurance distribution group of scale. As we enter this next phase of growth, we are delighted to welcome the team at IK who share the passion and belief that our independent model provides a differentiated proposition for our clients, acquisition partners and colleagues. This long-term investment reflects the conviction in our strategy, the opportunities ahead and most importantly, is testament to the hard work of our staff which has enabled a great business to be built.”

Adrian Tanski, Partner at IK and Advisor to the IK PF III Fund, added: “We have been very impressed by Seventeen’s journey to date and believe that the Group is well positioned to continue its strong development, off the back of its strong customer service focus, broad coverage of the value chain and longstanding expertise in the insurance brokerage and underwriting space. We are excited to work with both the Pauls and their team to further develop the Seventeen platform and pursue consolidation opportunities in the UK and beyond.”

For further questions, please contact:

Seventeen Group
Jackie Knight
Group Marketing and Events Director
Phone: +44 (0)7824 486319
jackie.knight@seventeengroup.co.uk

IK Partners
Vidya Verlkumar
Director of Communications and Marketing
Phone: +44 (0)7787 558 193
vidya.verlkumar@ikpartners.com

About Seventeen Group

Founded in 1982 Seventeen Group has developed into a multi disciplined insurance and risk management organisation. From its origins as an entrepreneurial broking and Underwriting agency, Seventeen has been an active investor since 2001 in the UK insurance market. We recognise the potential for the insurance sector to continue developing products and services which facilitate future growth in a changing world. For more information, visit www.seventeengroup.co.uk

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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 €19 billion of capital and invested in over 200 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 ikpartners.com

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EQT to acquire Crown Castle’s Small Cells Solutions business

eqt

Avetta Overview Pic

  • Crown Castle’s Small Cells Solutions business builds and operates small cells nationwide, serving mobile densification needs for cellular carriers
  • Transaction highlights EQT’s active ownership approach by acquiring an attractive, stable core infrastructure platform targeting a substantial market opportunity
  • EQT will aim to further accelerate the Company’s future growth ambitions 

EQT is pleased to announce that the EQT Active Core Infrastructure fund (“EQT”)” has entered into a definitive agreement to acquire Crown Castle Inc.’s (“Crown Castle”) (NYSE: CCI) Small Cells Solutions business (the “Company”) in a transaction valuing it at approximately $4.25 billion.

Crown Castle’s Small Cells Solutions business is a leading builder and operator of digital infrastructure, specializing in the deployment of small cell networks that enhance essential wireless connectivity. The Company operates a nationwide portfolio of approximately 115,000 small cells on air or under contract spread across 43 states, serving the top three U.S. mobile network operators. The Company plays an important role in providing capacity for high-demand areas lacking macro towers through its extensive network of small cells.  

The increasing demand for bandwidth-intensive activities, driven by the proliferation of 5G, IoT, AI, and other emerging technologies, is accelerating the need for network densification. The Company is well-positioned to capitalize on these underlying digitization trends, providing turnkey services that enable carriers to expand coverage, improve network efficiency, and meet growing global mobile data traffic demands. 

“Small cell networks are an essential part of the digital infrastructure ecosystem,” said Alexander Greenbaum, Partner and Head of EQT’s Active Core Infrastructure Advisory team. “This investment is a natural fit within EQT Active Core Infrastructure’s strategy – investing behind long-term contracted, core infrastructure assets with strong growth potential. With EQT’s deep experience in digital infrastructure and active approach to value creation, we see significant opportunity to support the Company’s continued growth.” 

“Crown Castle’s Small Cells Solutions business is a platform at the heart of the next generation of digital infrastructure, enabling essential digital connectivity that will help power the future,” said Nirav Shah, Partner within EQT’s Infrastructure Advisory team. “With its significant scale, operational excellence, and deep carrier relationships, the Company is poised to benefit from positive digital tailwinds. We look forward to partnering with the business to help fuel its next phase of growth, drive cutting-edge innovation, and support the long-term expansion of critical digital infrastructure.” 

With a strong foundation of long-term contracts, operational expertise, and deep-rooted carrier relationships, the Company has firmly established itself as a partner of choice in the U.S.  EQT will support the Company through its next phase of growth by leveraging its global scale and significant experience within the digital infrastructure space to strengthen its asset base and further deepen its relationships with leading mobile network operators. 

Transaction Details 

As part of the transaction, the EQT Active Core Infrastructure fund will acquire Crown Castle’s Small Cells Solutions business, while Zayo, backed by the EQT Infrastructure IV fund and Digital Bridge, will independently acquire Crown Castle’s Fiber Solutions business, as communicated in a separate transaction announcement today. Concurrent with the acquisitions, Zayo and the Small Cells business will enter into a long-term commercial agreement whereby Zayo will provide fiber to the Small Cells business. The total combined value of the Fiber Solutions and Small Cells transaction is $8.5 billion.

The transaction is expected to close in the first half of 2026, subject to regulatory review and other customary closing conditions.

TD Securities served as sole financial advisor and Kirkland & Ellis as legal advisor to EQT in connection with the transaction.

Contact EQT Press Office, press@eqtpartners.com

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EQT completes sale of shares in Galderma Group AG

eqt
  • The sale resulted in aggregate gross proceeds of c. CHF 1.3 billion, of which EQT received c. CHF 354 million

Further to previous announcements, an affiliate of the funds known as EQT VIII (“EQT”) is pleased to announce the completion of the placement of 15,000,000 shares in Galderma Group AG (SIX: GALD) (the “Company”) (the “Shares”) for aggregate gross proceeds of c. CHF 1.3 billion via an accelerated bookbuilding process (the “Placement”).  

As part of the Placement, EQT received gross proceeds of c. CHF 354 million. The Placement was completed on 13 March 2025. BNP Paribas, BofA Securities, Goldman Sachs, Morgan Stanley and UBS acted as joint global coordinators and joint bookrunners for the Placement. 

Contact
EQT Press Office, press@eqtpartners.com

Important notice
This press release does not constitute (i) an offer to sell or a solicitation of an offer to buy any securities of Galderma Group AG or any of its affiliates and it does not constitute a prospectus within the meaning of the Swiss Financial Services Act or (ii) an offer of securities for sale in the United States or elsewhere. Securities may not be offered or sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration. There will be no public offering of any of the securities mentioned in this press release in the United States

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About EQT
EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 136 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 Galderma Group AG
Galderma Group AG is a pure-play leader in the dermatology category, with a presence in approximately 90 countries. It delivers an innovative, science-based portfolio of premium flagship brands and services that cover the full spectrum of the rapidly growing dermatology market. This includes Injectable Aesthetics, Dermatological Skincare, and Therapeutic Dermatology. Since its foundation in 1981, Galderma has dedicated its focus and passion to the human body’s largest organ – the skin – addressing individual consumer and patient needs with superior outcomes in collaboration with healthcare professionals.

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Waterland Private Equity partners with Auren Spain to drive growth and strengthen its leadership in the professional services sector

Waterland

Madrid, 12 March 2025 – Auren, a leading Spanish firm in the global professional services sector, specializing in audit, legal advisory, consulting, and corporate finance services, has announced that the European private equity fund Waterland Private Equity has acquired a significant stake in the company. This marks a historic moment as it is the first time a private equity fund has invested in a multidisciplinary professional services firm in Spain.

• This marks the first investment by a private equity fund in a multidisciplinary professional services firm in Spain. Waterland, a European private equity firm, has selected Auren, a leading Spanish player in the sector, for this strategic partnership.
• The alliance offers Auren a historic opportunity to accelerate growth, enhance its international presence, invest in technology, strengthen its brand, and pursue strategic acquisitions while preserving its independence and core values.
• Auren aims to double its workforce and revenue over the next three years, further solidifying its leadership in the sector.
• Mario Alonso, President of Auren, emphasized that the partnership with Waterland drives the firm’s growth and expansion, affirming that “Auren remains true to its humanistic principles; our identity and values are the DNA of our firm.”

The alliance offers Auren a unique opportunity to accelerate its growth, strengthen its international presence, and enhance its competitiveness in a rapidly evolving market. The partnership will also drive greater investment in technology, brand positioning, and expansion through strategic buy-and-build activities.
The firm’s professional partners will continue to lead its management and strategic direction independently. Waterland will play a supportive role, leveraging its extensive experience in the European professional services sector and help drive the firm’s long-term growth and sustainability while preserving the identity and core values of Auren.
Auren aims to double its workforce and revenue over the next three years, strengthening its capabilities and solidifying its position as a leading firm in the sector. During this period, the firm plans to expand nationally and internationally, diversify its specialized services, and integrate innovative technologies into its solutions to enhance client experiences and meet their needs.
Auren’s current Board of Directors, composed of four professional partners, will be joined by two representatives from Waterland. Mario Alonso will continue to serve as the firm’s President.

A Shared Vision and Culture for Growth
“This alliance drives Auren’s growth and consolidation, enabling us to expand our services and strengthen our national and international presence. Moreover, it reinforces our commitment to digitalization and innovation, key elements in delivering more efficient, market-aligned solutions,” stated Mario Alonso, President of Auren.
Mr. Alonso also highlighted the importance of the firm’s culture, emphasizing that Auren remains committed to its humanistic values and pursuit of excellence. “Our identity and values are the DNA of our firm. In Waterland, we have found a partner who shares our vision and principles, ensuring a collaboration rooted in mutual respect and understanding. This partnership allows us to grow while preserving what makes us unique. We are proud to be a firm that prioritizes people, talent, and sustainability,” Mr. Alonso concluded.
David Torralba, partner at Waterland, shared his enthusiasm about the collaboration on behalf of the company: “We are thrilled to partner with Auren, a firm that has consistently demonstrated exceptional leadership and innovation in the professional services sector, and with whom we share a strategic vision for sustained growth. This partnership represents a unique opportunity to support a company with strong values, a clear vision, and a remarkable track record of growth.” Matthias Geyssens, partner at Waterland, added: “Additionally, Waterland will assist Auren in strengthening its collaboration with our other accountancy partnerships across Northern Europe.”
The completion of the transaction is subject to approval by the Spanish National Commission on Markets and Competition (CNMC).

About Auren
Auren, a leading global firm of Spanish origin, has been specializing in legal advisory, audit, consulting, and corporate finance services for over 25 years. With a human-centric culture that prioritizes the well-being of its teams and stakeholders, Auren helps clients meet all their business needs.
The firm employs over 1,000 people across 15 offices in Spain and more than 2,500 globally, providing coverage in over 70 countries through its membership in ANTEA, the Alliance of Independent Firms, which has been spearheaded and managed by Auren since 2008. In the last fiscal year, Auren achieved €96.2 million in revenue in Spain, reflecting a 12.3% growth compared to the previous year.
For more information, please visit: www.auren.com


Press contacts:
Sandra Baraza – sandra.baraza@auren.es | +34 653 838 144
Laurence Van Doosselaere – vandoosselaere@waterland.be | +32 473 88 05 21

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Merger of FIT/One and LifeFit Group contractually sealed

Waterland

Frankfurt am Main, 12 March 2025 – With the agreement on the acquisition of the FIT/One Group by LifeFit Group, the group is concluding its largest transaction to date and is now represented in Germany and Austria with 210 clubs. This strengthens LifeFit Group’s market position in the DACH region and lays the foundation for international expansion into neighboring Austria. Regulatory approvals and financing are still pending until the final completion of the acquisition.

Merger of FIT/One and LifeFit Group
With the merger of the two companies, LifeFit Group is getting significantly closer to its goal of operating over 250 clubs by 2028. This transaction also realizes the plan to expand beyond national borders, not just as a fitness provider in Germany. By acquiring FIT/One, 33 fitness clubs in Germany and an additional 12 fitness clubs in Austria will be integrated into the portfolio of LifeFit Group.

FIT/One Group was founded in 2014 with its first studio in Stuttgart. The fitness chain now has approximately 220,000 members, 500 employees, and 45 studios. Over the years, the company has established itself as a leading fitness chain in the DACH region. FIT/One has successfully entered the Austrian market by opening several fitness clubs in Vienna and the surrounding area, as well as through acquisitions in Styria and Burgenland. Currently, FIT/One operates four studios in Austria under the FIT/One brand and eight additional studios under the MoreFit brand.

The clubs belonging to FIT/One Group are to be integrated into the Fitness First brand in the future. The modern studios are largely aligned with the Fitness First RED studios, which offer a comprehensive and high-quality range of services and products at attractive modular prices.

For Jörg Dreisow, a member of the Supervisory Board of Waterland, the merger of FIT/One Group and LifeFit Group brings together two strong players in the fitness market, both of which are part of Waterland’s portfolio, allowing them to operate even better as a unit: “LifeFit Group is a fitness and health platform that has impressively demonstrated its ability to manage and successfully integrate transactions in recent years. With the clubs of FIT/One Group, it will become one of the strongest fitness providers in Germany. This will also mark the beginning of the Group’s international expansion through FIT/One’s presence in Austria.”

“For the LifeFit Group, the merger with FIT/One is the largest transaction to date and the next logical step towards internationalization and the exploration of new regional markets, particularly in Austria. We are excited to become active in our neighboring country, Austria. Together with FIT/One’s clubs, LifeFit Group will expand to 210 locations and over 650,000 members (including aggregator equivalents). This is an incredibly exciting journey, and we look forward to welcoming the new team members and growing together with them,” says Martin Seibold, CEO of LifeFit Group.

The majority owners of LifeFit Group are private equity funds advised by Waterland Private Equity Investments B.V. (“Waterland”). The shareholders of FIT/One Group are, to date, other private equity funds advised by Waterland, as well as a joint venture partner. The final completion of the acquisition of FIT/One Group is subject to regulatory approvals in Germany and Austria, as well as the successful implementation of financing. The completion of the acquisition is planned for early April 2025.

Financing of the acquisition of FIT/One Group
LifeFit Group intends to partially finance the acquisition of FIT/One Group through an increase in the bond issued by LifeFit Group MidCo GmbH with the ISIN NO0013252452. The net proceeds from the bond issuance will be used to partially finance the acquisition (including the repayment of related financial liabilities and certain capital expenditures) as well as to cover transaction costs and general corporate purposes of LifeFit Group. Such an increase would be conducted exclusively through a private placement to qualified investors, subject to market conditions.

Pareto Securities acts as the arranger and financial advisor to the company in connection with the intended bond issuance.

As part of the financing for the intended acquisition, the company presents selected consolidated financial metrics for LifeFit Group as of 31 January 2025, as well as for the last twelve-month period ending 31 January 2025 (“LTM”). The financial metrics for the LTM period on a like-for-like basis are adjusted for acquisitions completed by 28 February 2025, but excluding the planned acquisition of FIT/One Group.

 

About LifeFit Group
LifeFit Group is a leading fitness and health platform in Germany, uniting several fitness brands under one roof. The Group is committed to inspiring and supporting its customers to improve their lives through personalized, varied and purposeful health and fitness experiences. Fitness First is LifeFit Group’s best-known and largest brand. With Fitness First BLACK, the gym chain offers premium training and wellness services. In contrast, Fitness First RED provides a comprehensive training program with tailored solutions at an attractive price-performance ratio. Elbgym complements the multi-brand offering as an exclusive performance fitness provider with its unique and strong community. The fitness concepts of Barry’s, the pioneer of indoor high-intensity interval training, as well as the Club Pilates brand and YogaSix from Xponential Fitness complete the LifeFit Group portfolio.
www.lifefit-group.com

About FIT/One Group
The fitness chain FIT/One is one of the leading providers in the premium discount segment in Germany and Austria. Since the opening of its first studio in 2014, FIT/One has grown to over 45 studios within a few years, including four studios in the Austrian metropolitan region of Vienna and eight studios under the MoreFit brand near Graz. The company employs more than 500 staff members.
In February 2021, Waterland entered into a partnership with the founding Mühleck family to jointly drive the growth of FIT/One forward. In addition to organic expansion through new locations, the company pursues an active consolidation strategy in the highly fragmented German-speaking fitness market—an approach that is reflected in the recent acquisition of MoreFit in September 2024.
www.fit-one.de I www.morefit.at

 

Press Contacts:
Florian Bergmann – waterland@iwk-cp.com | +49 89 2000 30 30
Laurence Van Doosselaere – vandoosselaere@waterland.be | +32 473 88 05 21

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Arlington Capital Partners Forms GRVTY, Defense Technology Company

New platform delivers leading edge solutions to address top national security priorities

ARLINGTON, Va., March 12, 2025 – Arlington Capital Partners, (“Arlington”), a Washington, D.C.-area private investment firm specializing in government regulated industries, today announced the formation of GRVTY, a next generation leader in defense technology solutions for national security priorities across the Department of Defense, Intelligence Community and Homeland Security.

GRVTY supports the U.S. government’s growing intelligence, surveillance, reconnaissance and targeting (ISR&T) challenges with advanced capabilities in geospatial intelligence (GEOINT), signals intelligence (SIGINT) and cyber combined with proven expertise to solve complex national security mission challenges. The company is led by CEO Katie Selbe, who has held senior leadership roles at two prior Arlington portfolio companies.

“At a time when the country is facing an increasingly complex national security environment, it is more important than ever for decisionmakers to receive rapid and trusted intelligence and analysis,” said Katie Selbe, CEO of GRVTY. “GRVTY was created to deliver American dominance from outer space to cyberspace, and I look forward to delivering critical situational awareness to support our customers’ national security missions.”

“GRVTY will deliver innovation at speed and scale to support our national security customers,” said David Wodlinger, a Managing Partner at Arlington Capital Partners. “We plan to provide significant resources to GRVTY as it grows rapidly to become the next major defense technology company.”

GRVTY has over 325 employees across eleven states with primary locations including Arlington, Va., Annapolis Junction, Md., Dulles, Va., Chantilly, Va., Springfield, Va. and St. Louis and has more than $100 million in revenue.

 

About GRVTY

GRVTY is a defense technology company. Our automated ISR&T platforms, software and data solutions help our defense, intelligence and homeland security customers turn insight into action faster and with confidence. Every day, our dedicated employees answer the challenge to rapidly deliver mission and technical expertise to keep America safe and secure. Learn more at www.grvty.com and follow us on LinkedIn.

 

About Arlington Capital Partners

Arlington Capital Partners is a Washington, D.C.-area private investment firm specializing in government regulated industries. The firm partners with founders and management teams to build strategically important businesses in the government services and technology, aerospace and defense, and healthcare sectors. Since its inception in 1999, Arlington has invested in over 175 companies and is currently investing out of its $3.8 billion Fund VI. For more information, visit Arlington’s website at www.arlingtoncap.com and follow Arlington on LinkedIn.

Media Contacts

Media Contacts

GRVTY:

Ben Ingham

Vice President, Marketing and Communications

bingham@grvty.com

 

Arlington Capital Partners:

Meredith Bishop

Prosek Partners

Pro-arlington@prosek.com

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