Category Archives: News

Internationalisation continues: Equistone-backed BUKO acquires Sweden-headquartered Road Rental Scandinavia AB

Equistone

BUKO Group (“BUKO”), a leading European provider of temporary traffic management, further expands its international presence with the acquisition of Road Rental Scandinavia AB (“Road Rental”). With this strategic step, BUKO strengthens its position in Europe and its ambition to become the market leader in temporary traffic management. After successful acquisitions in Germany and the United Kingdom, BUKO is now entering the Swedish market with the intention to further grow across Scandinavia.

Headquartered in Barendrecht, the Netherlands, BUKO employs nearly 1,000 people across four countries and successfully oversees thousands of projects annually. Founded in 1991, BUKO specialises in temporary traffic management solutions. With its comprehensive portfolio of services – from design, planning, approval, deployment and collection, as well as onsite management of road signage, safety equipment required for roadworks and an innovative range of digital traffic management solutions – BUKO primarily serves contractors and public authorities, active in utility-related and urban/rural roadworks.

Since funds advised by Equistone acquired a majority stake in BUKO in February 2023, the company has pursued a growth strategy focused on building its presence in its home market and targeted expansion into other European countries supported by strong market dynamics. In March 2024, BUKO established a foothold in the attractive UK market by acquiring Road Traffic Solutions, a temporary traffic and event management solutions specialist operating from seven locations and employing 175 people. With the acquisition of Hooke Highways, BUKO further strengthened its position in this key growth market in November 2024. In October 2024, BUKO also entered the German market with the acquisition of BVT Bremer Verkehrstechnik.

With Road Rental, BUKO has found a high-quality and ambitious partner to grow in the attractive Scandinavian markets. Road Rental is a fast-growing specialist in temporary traffic management with 125 of employees, nationwide coverage through 11 depots and a head office in Stockholm. Since its foundation in 2018 by Jimmy Hansson (CEO) and Dennis Gustafsson (COO), the company has developed into a driven organisation with a solid market position, expanding its geographic coverage and customer base year over year. Road Rental is characterised by a strong entrepreneurial spirit, family culture and great commitment to employees.

“With Road Rental, we are bringing in an ambitious and innovative partner that fits seamlessly with our growth strategy and corporate culture,” said Robert Emmerich, CEO of BUKO. “The management team has built an impressive company in a short time, and their energy and customer-oriented approach perfectly match with ours. I am very much looking forward to working with the management team and enthusiastic colleagues to further build a strong position in Sweden as well as other Scandinavian markets.”

Jimmy Hansson, CEO of Road Rental, added: “For us, this is a great opportunity to accelerate our growth ambitions. BUKO not only brings knowledge and experience, but also an international network and resources to further optimize our services. We share the same vision of innovation, quality and good employment practices. Together, we are taking the next step to become a leading player in Scandinavia and beyond.”

Hubert van Wolfswinkel, Partner in Equistone’s Amsterdam office, said: “We are excited to partner with Road Rental as a fast-growing challenger in the Swedish market and continue BUKO’s strategy of becoming the leading temporary traffic management provider across Europe. We deem the Swedish and other Scandinavian markets highly attractive, underpinned by continued strong infrastructure and energy transition investments.”

The Equistone deal team consists of Hubert van Wolfswinkel, Tanja Berg and Josh Aalbers. BUKO was advised by PwC (Financial & Tax), Lindahl and Clifford Chance (Legal) and Roland Berger (Commercial).

PR Contacts

GERMANY / SWITZERLAND / NETHERLANDS

  • IWK Communication Partner
  • Ira Wülfing / Florian Bergmann
  • Tel: +49 (0)89 2000 30 30
  • E-Mail IWK

Categories: News

3i announces sale of its investment in Shared Tower

3I

3i Group plc (“3i”) today announces the sale of its stake in Shared Tower, held by 3i’s North American Infrastructure Fund. The transaction represents the first exit for the fund and continues to build on 3i’s successful track record in the digital infrastructure sector.

Shared Tower is Canada’s leading developer and owner of carrier neutral communications infrastructure. Operating under long-term contracts, Shared Tower is a preferred partner in Canada, thanks to its flexible, solutions-based approach and consistent track record of reliable project delivery. The company makes its infrastructure solutions available to all networks, providing speed-to-market and a reliable service for customers.

3i made an initial investment in 2022 as Shared Tower’s first institutional investor. The investment helped capitalise the company’s pipeline of tower development opportunities and allowed Shared Tower to expand its operations and team. Over 3i’s hold period, the company tripled the size of its tower portfolio and successfully expanded into other passive network infrastructure solutions.

 

-Ends-

Download this press release 

For further information, contact:

Silvia Santoro
Investor enquiries

Kathryn van der Kroft
Media enquiries

 Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

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Plastiflex strengthens its position with the acquisitions of Smooth-Bor and TIK

Beringen, Belgium – Plastiflex Group N.V. (“Plastiflex”, “Plastiflex Group” or “the Group”), a leading manufacturer of high-end tubing systems and custom components is pleased to announce that it has made two transformational acquisitions with the addition of both Smooth-Bor Plastics (“Smooth-Bor”) and TIK d.o.o. (“TIK”). These investments will further enhance the global growth and technological leadership profile of Plastiflex by consolidating the Group’s strong position in the fast-growing respiratory care market and by adding new end-markets with high growth potential to its fluid management segment (such as filters or bloodlines for dialysis patients).

A Strengthened Group

The acquisition of Smooth-Bor strengthens Plastiflex’s leading position in tubing systems for the rapidly- growing respiratory care market, while the acquisition of TIK provides Plastiflex entry to the catheter manufacturing market to complement its current healthcare fluid management offering. The Group will now have 12 manufacturing facilities globally, with 7 dedicated healthcare facilities in North America (USA and Mexico), EMEA (Germany, Slovenia and Turkey) and Asia (China and Malaysia).

Since IK Partners’ investment in 2021, Plastiflex Group has accelerated its buy-and-build strategy, making a total of four add-on acquisitions in the Healthcare sector. At present, the Group expects to generate approximately €200 million in sales and roughly €50 million in EBITDA in 2025, with the vast majority derived from customers in the sector. Plastiflex envisions a clear trajectory to continue its growth, aiming to double its sales in the coming years by leveraging its current footprint and client portfolio in these fast-growing end markets while continuing to execute on its buy-and-build strategy.

Smooth-Bor

Founded in 1971 and headquartered in California, USA, Smooth-Bor is a leading healthcare company, specialised in the production of corrugated heated tubes for continuous positive airway pressure (“CPAP”) devices, as well as other tubing systems and masks for the respiratory care market with a specialisation in sleep apnoea. The company employs over 100 people who are based across its manufacturing sites in North America and Malaysia.

Through the partnership with Smooth-Bor, Plastiflex will be able to further consolidate its leading position in the market and utilise additional production capacity in USA and Southeast Asia, in line with the Group’s operational strategy of regional self-sufficiency.

Smooth-Bor will continue to be led by CEO Eric Carlson as well as President and CFO Steve Caiozzo.

TIK

Established in 1971 and headquartered in Kobarid, Slovenia, TIK is a leading manufacturer of disposable medical devices, specialised in the production of coated urethral catheters and follicle aspiration needles. The company also produces a wide range of tubing systems for other applications in the field of respiratory care, gynaecology and gastroenterology. At present, TIK employs over 90 people.

By joining forces with TIK, Plastiflex will be able to further extend its product portfolio in the fluid management market space and utilise additional production capacity in Europe, in line with the Group’s operational strategy of regional self-sufficiency.

TIK will continue to be led by Managing Director Petra Borovinšek, who has been in place since 2018.

Piet Gruwez, CEO of Plastiflex, said: “We’re delighted to announce the acquisitions of Smooth-Bor and TIK as we continue to strengthen Plastiflex’s as a leading medical device manufacturer of tubing systems. The acquisition of Smooth-Bor will further strengthen our leadership position in the fast-growing respiratory care market, while the acquisition of TIK provides us with access to the catheter manufacturing market, a market with huge growth potential for the group. We look forward to working closely with the employees of both companies to integrate them fully within the ever-evolving Plastiflex Group.”

Eric Carlson, CEO of Smooth-Bor Plastics, commented: We are very happy about the further development of Smooth-Bor within this strategic partnership with the Plastiflex Group and we are convinced that, together, we will be able to offer a further enhanced product portfolio to all our customers across the globe.”

Petra Borovinšek, Managing Director of TIK, added: “We are thrilled to be joining forces with Plastiflex, leveraging our shared experience to continue sales growth in Europe, further enhance our product portfolio and reinforce the Group’s position as an indispensable partner to distributors.”

For further questions, please contact:

Plastiflex Group
Piet Gruwez
Chief Executive Officer
Phone: +32 11 45 03 99
piet.gruwez@plastiflex.com

About Plastiflex Group

Since its foundation in 1953, the Plastiflex Group (“Plastiflex”) has become one of the world’s leading suppliers of components and high-end customised tubing systems for customers in the medical and industrial technology sectors. Plastiflex, headquartered in Beringen, Belgium, is globally active and employs more than 1,400 people across it 12 international production sites and other subsidiaries. For more information, visit: http://www.plastiflex.com/

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About Smooth-Bor Plastics

Established in California in 1971 as a family-owned business, Smooth-Bor Plastics now operates as a second-generation producer of innovative tubing solutions and stands as one of the global leaders in the realm of heated tubes with more than 100 employees across the 2 production facilities. For more information, visit: https://www.smoothborplastics.com/

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About TIK d.o.o.

Established in Kobarid, Slovenia in 1951, TIK d.o.o. (“TIK”) has been transformed from the original company of needle production to the current medical device manufacturer, focusing on the production of different types of catheters in urology, respiratory therapy and gastroenterology as well as follicle aspiration needles in gynaecology. TIK has a flexible organization with 90 employees, fully compliant with ISO 13485:2016 for manufacturing medical devices with clean rooms area of 1.500 m2 and a strong in-house R&D with complete production process done on site. TIK has sales in more than 30 countries all over the world. For more information, visit: https://tik.si/en/

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pgb-Group partners with Waterland Private Equity to accelerate its international growth

Waterland

Melle, 11 March 2025 – pgb-Group, the market leader in fastening materials in Belgium and a fast-growing player in Poland, the Netherlands, and France, has entered into a strategic partnership with Waterland Private Equity. This collaboration marks a new step in pgb’s international growth strategy, with the ambition of becoming a European market leader.

This partnership signifies a milestone in the history of pgb, a family-owned company that has grown steadily since its founding in 1956. After nearly 70 years of building a successful business, Luc and Marc Pennoit (second generation) are handing over the reins to the third generation. Under the leadership of CEO Frederik Pennoit, together with Johannes Heye and Vincent Pennoit, the company will continue to focus on international expansion and innovation.

Luc Pennoit: “We have grown pgb into the market leader in Belgium, with a strong presence in the Netherlands and France. Now is the time to take this growth story even further. With the support of Waterland, the third generation is ready to elevate pgb to the next level and become a European market leader.”

A Solid Foundation for Continued Growth
In recent years, pgb has invested heavily in automation, digitalization, and capacity expansion. In Melle, where the company’s headquarters and distribution center are located, there is space for 20,000 pallet locations, including 13,500 in an advanced fully automated pallet warehouse, a miniload picking system with 40,000 bin locations, and a new shuttle system with an additional 40,000 locations. Additionally, a new ERP system was implemented to further optimize business processes and lay the groundwork for future growth.

With a turnover exceeding €80 million and a strong market position, pgb is now taking the next step in its international expansion. The company sells its products in more than 50 countries and has sales offices in Belgium, France, and Poland. pgb also has a sourcing office in Shanghai, which oversees a broad and flexible global supplier network. With its own anchoring production site in Poland, pgb maintains significant control over its production chain, greatly improving delivery reliability.

Frederik Pennoit, CEO of pgb: “This partnership with Waterland allows us to accelerate our growth, both organically and through strategic acquisitions. Our focus is on expanding our presence in Europe, strengthening our services and automation processes, and further enhancing control over our production chain. With Waterland’s support, we are ready to take the next step in our growth journey.”

Growth Strategy Focused on International Expansion
pgb’s new growth strategy is centered on further international expansion through both organic growth and acquisitions in strategically important markets. In the coming years, the company will continue to invest significantly in capacity expansion, automation, and digitalization to better serve its customers and strengthen its strong position in Europe.


About pgb-Group
pgb-Group is a family-owned company and a leading total supplier of fastening materials. With over 80,000 product references, the company serves both the professional construction market and the DIY sector in Europe. The company has offices in Belgium, France, Poland, and Hong Kong and operates its own production site in Poland.
www.pgb-europe.com


Press Contact:
Laurence Van Doosselaere – vandoosselaere@waterland.be | +32 473 88 05 21

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EQT AB resolves on repurchase of own ordinary shares

eqt

EQT Group Office

The Board of EQT AB (“EQT”) has resolved to repurchase a maximum of 4,931,018 own ordinary shares.

  • The resolution is made by virtue of the authorization granted by the Annual Shareholders’ Meeting held on 27 May 2024 to repurchase own shares.
  • A maximum of 4,931,018 ordinary shares (0.4% of EQT’s share capital) are to be repurchased, and the total maximum amount is SEK 2,500,000,000.
  • The repurchase corresponds to approximately SEK 1,464m based on the closing price for EQT’s share on Nasdaq Stockholm on 11 March 20251.
  • Repurchases may be made during the period 12 March – 16 May, 2025.
  • As previously communicated, EQT expects to execute share buyback programs twice a year to offset – over time – the dilution impact from shares delivered to EQT’s employees under its Share and Option incentive programs.
  • Together with the share buyback program completed in August 2024, the buyback corresponds to the maximum potential dilution for the 2024 Share and Option incentive programs.

Purpose and terms
The purpose of the repurchase program is to adjust EQT’s capital structure (by way of cancellation of shares). The repurchase program will be carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The repurchase program will be managed by Skandinaviska Enskilda Banken AB (“SEB”) that, based on the trading order given by EQT to SEB, makes its trading decisions regarding timing of the acquisitions independently of EQT.

The repurchase program resolved by the Board is subject to the following terms:

  1. Repurchases may only be effected on Nasdaq Stockholm in accordance with Nasdaq Stockholm’s Rulebook for Issuers of Shares (the “Rulebook”) as well as in accordance with MAR and the Safe Harbour Regulation.
  2. Repurchases may be made on one or several occasions during the period 12 March – 16 May, 2025.
  3. Repurchases may only be effected at a price per share within the price interval applying on Nasdaq Stockholm from time to time, which refers to the interval between the highest buying price and the lowest selling price continuously disseminated by Nasdaq Stockholm, and in accordance with the restrictions relating to price in the Safe Harbour Regulation.
  4. Repurchases may only be effected in accordance with the restrictions regarding volume for acquisitions of own shares stated in the Rulebook and in the Safe Harbour Regulation.
  5. A maximum of 4,931,018 own ordinary shares may be repurchased for a total maximum amount of SEK 2,500,000,000.
  1. Payment for the shares shall be made in cash.

The number of shares in EQT as of the date of this press release is set out in the table below.

Ordinary shares Class C shares2 Total
Number of issued shares3 1,241,510,911 496,056 1,242,006,967
Number of shares owned by EQT AB4  59,924,191 – 59,924,191
Number of outstanding shares 1,181,586,720 496,056 1,182,082,776

1) SEK 296.8 / share.
2) Carry one tenth (1/10) of a vote. Includes 385,499 C shares reclassified to ordinary shares resolved by the Board on 11 March 2025, pending registration.
3) Total number of shares in EQT AB, i.e. including the number of shares owned by EQT AB.
4) EQT AB shares owned by EQT AB are not entitled to dividends and carry no votes at shareholders’ meetings.

Contact

Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

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About EQT

EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of developing companies across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. EQT has 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.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in more than 25 countries across Europe, Asia and the Americas and has more than 1,900 employees.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

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Charterhouse announces partnership with leading French fire safety and security systems provider ESTYA

Charterhouse

Charterhouse Capital Partners (“Charterhouse”), one of the longest-established private equity firms operating in Europe, today announces that it has agreed to acquire ESTYA, formerly ERIS (“the “company”). Charterhouse will invest in partnership with ESTYA’s management, who are reinvesting in the company, and alongside Chequers Capital, who will remain a significant shareholder following an initial investment in 2021. The transaction is subject to customary regulatory approval.

Founded in 1974, ESTYA, is a leading French services provider specialising in electronic fire safety and security systems with a comprehensive offering across electronic fire detection, smoke extraction and compartmentation, gas detection and electric security. Headquartered in Paris, the company delivers circa €120m in revenue, across 15 agencies in France, and has tripled in size since 2021, having completed seven acquisitions during that period of time.

ESTYA’s leadership, including CEO and Founder Ludovic Goëta, are committed to supporting the firm’s next stage of growth alongside Charterhouse and Chequers Capital. Through this partnership, and in alignment with ESTYA’s management, Charterhouse will apply its expertise in professionalising, internationalising, and transforming services businesses through organic growth and M&A initiatives across France and other key European geographies.

Charterhouse pursues pan-European mid-market opportunities in two core sectors of focus: Services and Healthcare. It targets businesses that feature ‘defensive growth’ characteristics, combining strong market positions with sustained earnings growth, with the potential for transformation. Its investment in ESTYA is closely aligned with this investment strategy, and follows recent investments in Metrodora, a leading Spanish education group for healthcare professionals, Skin Tech Pharma Group, a B2B medical aesthetics group, and Two Circles, a leading tech-enabled services and software business serving sports and entertainment clients, which were agreed in 2024.

Cédric Barthélemy, Partner at Charterhouse said: “We have been following ESTYA’s journey closely for some time and have been truly impressed by what Ludovic and his team have achieved to date. As a fast-growth, high quality and resilient mid-market company, ESTYA is exactly the type of business that we like to back at Charterhouse. We are delighted to combine our expertise in transforming local leaders in the services sector into international champions with the talented management team and Chequers Capital, to reinforce ESTYA’s leading market position and support Ludovic’s long-term growth ambitions.”

Ludovic Goëta, CEO and Founder at ESTYA, said: “At ESTYA, we are focused on providing mission critical services to our customers across the electronic fire safety and security system value chain. We have grown strongly in recent years and are confident that Charterhouse is the right partner, alongside Chequers Capital, to take us into our next stage of growth across France and into new European markets.”

Aurélien Klein, Managing Partner at Chequers Capital

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Sencure Secures €7.9M to Revolutionize Wearable Health Tech

819 Capital Partners

Deventer, 11 March 2025 – Portfolio company Sencure, a leader in wearable health technology, has secured a €3.9 million additional investment in its Series B2 funding round, bringing the total B round up to € 7.9 million. Its total funding—including non-dilutive sources—amounts to over €15 million in the last 4 years.

 

At the heart of Sencure’s success is its flagship product, the SNCE800 IC —a high-performance, low-power chip that’s setting new standards for wearable medical devices. The SNCE800 is poised to power a new generation of wearable health products, from EEG-enabled earbuds and headbands to ECG patches and EMG-based wearables.

As the global demand for compact, efficient medical devices surges—driven by an aging population and rapid healthcare digitalization—Sencure’s innovations are leading the charge in creating smarter, more efficient solutions.

With investment backing from Cottonwood Technology Fund, Bluegrass Ventures, NV NOM, and 819 Capital Partners, Sencure is gearing up for a major expansion. Central to this growth is the opening of a state-of-the-art facility at the Noviotech Campus in Nijmegen. “We are thrilled to welcome Bluegrass Ventures to our family of investors and to strengthen our existing partnerships,” said Sencure CEO Dick van Waes. “This funding propels us into the next phase of growth and innovation.”

Sencure has also welcomed Getlin Visser to its Supervisory Board. With a deep-rooted passion for technology and healthcare innovation, Visser brings invaluable expertise to guide Sencure’s next steps. “I am excited to join Sencure’s Supervisory Board and support their mission to revolutionize wearable technology,” said Visser. “Their approach to healthcare solutions is visionary, and I look forward to being part of their journey.”

Additionally, the company’s newly appointed VP of R&D, William Trilsbeek, will spearhead efforts in Nijmegen. “Leading this team in Nijmegen is an incredible opportunity,” said Trilsbeek. “Sencure’s relentless pursuit of innovation is inspiring, and I’m eager to contribute to groundbreaking solutions that will shape the future of healthcare.”

With fresh capital, an expanded team, and cutting-edge technology, Sencure is well on its way to transforming the wearable health market. As the company continues its mission to miniaturize and enhance medical wearables, the future looks brighter than ever.

We invested in Sencure through 819 Evergreen Fund.

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Shermco Expands Capabilities with Acquisition of Power Products and Solutions

Gryphon Investors

Supports the company’s strategic expansion, doubling service capacity in the Charlotte, NC area

Shermco Industries, a leader in electrical testing, engineering, maintenance, and repair, announced today the acquisition of Power Products and Solutions (PPS), a NETA-accredited electrical testing and maintenance provider and PEARL-certified breaker reconditioning specialist based in Charlotte, NC. This strategic acquisition doubles Shermco’s capacity in the Charlotte area, strengthens its infrastructure, and enhances its ability to deliver exceptional service across the Southeast and beyond. Terms of the transaction were not disclosed.

The acquisition represents a strategic advancement in Shermco’s commitment to delivering best-in-class electrical system expertise and reliability. Since 1985, PPS has been a trusted provider of electrical acceptance testing, circuit breaker repair, maintenance, and emergency services throughout the Carolinas.

This partnership expands Shermco’s workforce in Charlotte, enhances technical capabilities, and strengthens its service portfolio—including a PEARL-certified breaker shop. With enhanced infrastructure and combined local expertise, Shermco is well-positioned for continued growth and to provide exceptional service across the Carolinas and surrounding regions.

“The acquisition of PPS represents a significant milestone in Shermco’s mission to raise the bar for electrical system quality and reliability by strengthening our ability to provide even more comprehensive high-quality services to our clients across the Southeast and beyond,” said Phil Petrocelli, CEO of Shermco. “By welcoming skilled team members and expanding our capabilities in our core areas of focus, we are better positioned to deliver safe, reliable operations to our diverse client base.”

Shermco is majority-owned by San Francisco-based Gryphon Investors, a leading middle-market private investment firm.

# # #

About Shermco

Headquartered in Irving, TX, Shermco provides electrical testing, engineering, maintenance, commissioning and repair services to a wide range of utility, industrial, energy and other end markets. With more than 40 locations, Shermco serves a diversified blue-chip client base across North America. The Company is an active participant in NETA (the InterNational Electrical Testing Association), EASA (Electrical Apparatus Service Association), and AWEA (American Wind Energy Association). For more information, visit www.shermco.com.

About Gryphon Investors
Gryphon Investors is a leading middle-market private investment firm focused on profitably growing, competitively advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, Software, and Technology Solutions & Services sectors. With approximately $10 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon’s highly differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance, and accounting expertise. Gryphon’s three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $500 million per portfolio company. The Junior Capital strategy targets investments of $10 million to $25 million in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon’s targeted investment sectors.

Shermco Contact:

Drew Johns

Vice President, Corporate Development

Shermco Industries

Drew.Johns@shermco.com

Gryphon Contact:

Jennifer Hurson

845-507-0571

jhurson@lambert.com

or

Caroline Luz

203-570-6462

cluz@lambert.com

Categories: News

Gladstone Investment Corporation Exits Its Investment in Nocturne Luxury Villas

Gladstone

MCLEAN, VA / ACCESS Newswire / March 11, 2025 / Gladstone Investment Corporation (NASDAQ:GAIN) (“Gladstone Investment”) announced today the sale of its portfolio company Nocturne Luxury Villas, Inc. (“Nocturne” or the “Company”) to an affiliate of Calera Capital. As a result of this transaction, Gladstone Investment received full repayment of its debt investment and realized a significant capital gain on its equity investment. Gladstone Investment formed Nocturne in partnership with Aureus Capital, LLC (“Aureus”) in 2021.

Nocturne was formed as a platform to acquire and integrate luxury vacation rental management companies. The Company currently has operations in St. Barth’s; Grand Cayman; Telluride, Colorado; Cabo San Lucas, Mexico; Santa Barbara, California; and Florida’s Emerald Coast.

“Gladstone Investment has enjoyed a strong partnership with Aureus and Nocturne’s management team over the last several years. We are proud to have supported the business across seven separate acquisitions which saw the business transform dramatically,” said Erika Highland, Senior Managing Director of Gladstone Investment. “The entire Nocturne management team has achieved outstanding results in growing the business and we wish them continued success as they further expand.”

“With the sale of Nocturne and from inception in 2005, Gladstone Investment has exited over 30 of its management supported buy-outs, generating significant net realized gains on these investments,” said David Dullum, President of Gladstone Investment. “Our successful exit from Nocturne further validates our strategy as a buyout fund, which relies on generating strong current income during the investment period from our debt investments alongside equity investment that allow for meaningful capital gains at exit, both of which support our ultimate goal of delivering value to shareholders through stock appreciation and dividend growth.”

Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Additional information on the transaction can be found at www.gladstoneinvestment.com.

For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com.

Forward-looking Statements:
The statements in this press release regarding the longer-term prospects of Gladstone Investment, Nocturne and its management team, and the ability of Gladstone Investment and Nocturne to grow and expand are “forward-looking statements.” These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on Gladstone Investment’s current plans that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in Gladstone Investment’s filings with the Securities and Exchange Commission. Gladstone Investment undertakes no obligation to update or revise these forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

For further information: Gladstone Investment Corporation, (703) 287-5893

SOURCE: Gladstone Investment Corporation

View the original press release on ACCESS Newswire

Released March 11, 2025

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Altor divests Wrist to J.F. Lehman & Company

11 March 2025 – Altor Fund II (“Altor”) has completed the divestment of W.S.S. Holding A/S and its subsidiaries (“Wrist”), a global leader in marine supply, logistics and budget management services for the maritime industry, to investment affiliates of J.F. Lehman & Company (“JFLCO”), a leading private equity firm specializing in the aerospace, defence, government, maritime, environmental and infrastructure sectors.

Wrist is the global leader in provisions, stores, spare parts logistics, budget management and integrated marine supply services to vessels worldwide through its extensive global supply network. With roots dating back to 1953, Wrist employs 2,275 people and operates across more than 35 locations serving more than 750 ports globally.

Since Altor and Wrist joined forces, the company has grown fivefold through a combination of organic growth and a total of 19 acquisitions. Today, the company is a clear industry leader and more than twice the size of the nearest competitor. Wrist has continued to lead the development and digitalization of the marine supply industry, transitioning from transactional customer relationships to being the preferred logistics partner of choice.

“We are incredibly impressed by what the team at WSS has achieved during our partnership. Throughout our long partnership they have led the way in their industry by placing innovation and customers first, not least by investing in digitalization to raise the bar on seamless solutions and future proofing their business”, said Søren Johansen, Partner at Altor and Chairman of Wrist.

“We are thrilled to join forces with JFLCO, whose vision and track record in the maritime industry make them an ideal partner for our next stage of growth” says Jens Holger Nielsen, Group CEO Wrist. “We are grateful for the support and guidance of Altor over the past 17 years, and we are very pleased that the Altor partnership has reinvested in the business alongside JFLCO”, he continued.

 

About Altor

Since inception, the family of Altor funds has raised more than EUR 12 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 Eleda, Carnegie, Kaefer, OX2 and Nordic Climate Group.

About Wrist

Wrist is the world’s leading ship and offshore supplier within provisions, stores, spare parts logistics, budget management and integrated marine supply services, operating across 35 locations worldwide covering 750+ port locations with a market share of about 12%. The company is a pioneer in the digital transformation of the maritime supply industry streamlining the marine supply chain and procurement for customers. Committed to sustainability, Wrist continuously works to reduce its own climate impact while proactively addressing the market’s growing need for responsible solutions and services.

About J.F. Lehman & Company

Founded in 1992, J.F. Lehman & Company focuses exclusively on investing in the aerospace, defense, maritime, government and environmental industries. The firm has offices in New York and Washington, D.C. To learn more, please visit www.jflpartners.com

Press contact

Karin Åström

Head of Communications

karin.astrom@altor.com

+46 707 64 86 59

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