Category Archives: News

Applied Adhesives Acquires Alliance Adhesives

Arsenal Capital Partners

Minnetonka, MN– APPLIED Adhesives, a premier custom adhesive solutions provider in North America, today announced that it has completed its acquisition of Alliance Adhesives, a regional supplier of adhesives and dispensing equipment solutions located in Oldsmar, FL. This acquisition strengthens the company’s commitment to providing industry-leading products, technical expertise, and superior service to its customers.

“Alliance’s dedication to providing an exceptional customer experience is in direct alignment with Applied’s commitment to relentless customer focus, demonstrating an ideal cultural fit,” said John Feriancek, President and CEO of APPLIED Adhesives. “We are pleased to welcome Alliance Adhesives to APPLIED Adhesives and look forward to providing their customers with the outstanding service and innovative solutions they have come to expect.”

“Alliance always has the mindset that we are an extension of our customers’ business by supporting their needs to drive their success. Our relationship with our customers is our number one priority. We have them to thank for who we are today,” said David Rittenhouse, President of Alliance Adhesives. “Applied shares those same values and mindset. We feel the support that Applied brings to the table and their passion for relentless customer focus makes this a win for everyone.”

About APPLIED Adhesives

APPLIED Adhesives, founded in 1971, is a premier custom adhesive solutions provider in North America. The company is a value-added distributor of hot melt, water-based, and reactive adhesives as well as dispensing equipment. APPLIED Adhesives serves as a critical supply chain partner to leading adhesive manufacturers and formulators by offering reach and high service levels to an expansive customer base. For more information, please visit appliedadhesives.com or follow us on LinkedIn.

About Alliance Adhesives

Located in Oldsmar, FL, Alliance Adhesives is a regional, family-owned manufacturer and distributor of industrial adhesives. For 20 years, customers have depended on Alliance for cost-effective solutions for their adhesives needs. Alliance serves customers of all types including small- and medium-sized businesses, large enterprises, agricultural, educational institutions, government agencies, and consumers. For more information, please visit Allianceadhesives.com

APPLIED Adhesives Media Contact:
David Posadas
Vice President of Marketing
dposadas@appliedproducts.com

Categories: News

Quilvest Capital Partners and IK Partners enter exclusivity with Five Arrows Principal Investments to sell a majority stake in GEDH

IK Partners

Paris, May 25th 2022 – Quilvest Capital Partners (“Quilvest”) together with IK Partners (“IK”) is pleased to announce that an exclusivity agreement has been reached to sell its respective stakes in Groupe EDH (“GEDH” or “the Group”), to Five Arrows Principal Investments (“FAPI”), alongside the management team who will be reinvesting. A potential reinvestment from both Quilvest and IK is under review and being considered.

Founded in 1961, GEDH is a leading player in the private higher education sector in France, delivering certified graduate programmes and specialised MBAs across communication, artistic and cultural management, journalism, design, cinema and digital arts. Leveraging their long-established ties with a broad network of companies across the world, the schools of GEDH develop a teaching approach that is tailored to meet the needs of students and to the requirements of work environments, specifically with regards to creative and cultural industries.

The Group is headquartered in Paris, France with close to 400 employees serving approximately 10,000 students. It encompasses eight reference schools that are spread across 25 campuses in France and beyond. At present, the Group offers 12 certified diplomas and has an alumni network of more than 45,000 graduates.

Quilvest first partnered with GEDH in November 2017 with IK joining in February 2020, having acquired a minority stake from Quilvest and Amin Khiari, Chairman and CEO of the Group. Through this combined partnership, GEDH has managed to execute on its buy-and-build plan through the: acquisition of schools with adjacent academic offerings; opening of 11 further campuses in France; accelerated roll-out of new programmes and strengthening of its organisational structure.

Amin Khiari, CEO of GEDH, commented: “Quilvest and IK have been valuable in accelerating our growth over the past few years. Most notably, they have helped us reinforce our positioning as a leading provider of higher education. We thank them for their support as it has allowed the Group to expand both geographically and in terms of academic offerings allowing us to serve a growing number of students. With continued enthusiasm and ambition, we look forward to partnering with FAPI’s team for the years ahead.”

Thomas Vatier, Partner at Quilvest Capital Partners, said: “Since our investment in 2017, we have had the pleasure of witnessing GEDH go from strength to strength. We have been impressed with their vision, know-how and drive to build a ‘best-in-class’ player in private higher education. Their accomplishments are a testament to the work from Amin and his team. We are highly confident in the successful pursuit of their journey.”

Thomas Grob, Partner at IK and Advisor to the IK Partnership Fund, added: “GEDH has grown significantly as part of our partnership; driven by both their expansion in geographical reach and continuous innovation with regards to the curriculum. This has further strengthened their position in the private higher education sector in France, which, when combined with their clear focus on operational excellence and the quality of their students’ experience, allows them to differentiate themselves amongst other players. GEDH is a solid business which benefits from strong pillars, making it well-positioned for future growth.”

Brahim Ammor, Managing Director at FAPI, said: “Since 2014, Amin and his team have built one of the leading providers in the private higher education segment in France with a remarkable growth trajectory. We are very excited to partner with GEDH to further support the expansion of the Group in France, enhance its digital profile and accelerate its international development in the coming years.”

Completion of the transaction is subject to legal and regulatory approvals.

For further questions, please contact:
Group EDH
Emmanuelle Baruch
E: e.baruch@groupe-edh.com

Quilvest Capital Partners
FTI Consulting
Mathilde Jean
T: +33 (0)1 47 03 69 54
E: mathilde.jean@fticonsulting.com

Five Arrows Principal Investments
Emma Rees
T: +44 (0) 7703 715 763
E: emma.rees@rothschildandco.com

IK Partners
Vidya Verlkumar
T: +44 (0) 7787 558 193
E: vidya.verlkumar@ikpartners.com

Or

Maitland/AMO
James McFarlane
T: +44 (0) 7584 142665
E: jmcfarlane@maitland.co.uk / ik-maitland@maitland.co.uk

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Balance Point Capital Announces its Investment in Vital Nutrients Holdings, Inc. d/b/a Blueroot Health

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Balance Point Capital
Westport, CT, May 24, 2022 – Balance Point Capital Advisors, LLC (“Balance Point”), in conjunction with its affiliated funds, Balance Point Capital Partners IV, L.P, and Balance Point Capital Partners V, L.P., is pleased to announce its investment in Vital Nutrients Holdings, Inc. d/b/a Blueroot Health (the “Company”), a portfolio company of North Castle Partners.  Continuing with its position as a leading provider of flexible capital to the lower middle market, Balance Point provided financing to support the Company’s recapitalization and its purchase of Fairhaven Health.
Founded in 2020 and headquartered in Middletown, CT, Blueroot Health is a consumer health company building brands that consists of a family of well-respected nutraceutical brands including Vital Nutrients, Bariatric Fusion, Hyperbiotics, and now Fairhaven Health.  Blueroot Health offers healthcare practitioners, their patients and consumers alike a suite of meticulously crafted, innovative products that combine the best of clinically-proven science and the cleanest ingredients, tested to exceed industry safety and quality standards.
“We are pleased to be able to support Blueroot Health, an established leader in the practitioner-focused VMS category, and to partner with North Castle Partners,” remarked Balance Point Partner Justin Kaplan. “We believe Blueroot’s diverse product portfolio of trusted brands and proven ability to innovate and expand distribution across practitioner and e-commerce platforms will continue to drive significant growth for the Company going forward.”
Jane Pemberton, Blueroot’s CEO, said “We are excited to be working with Balance Point on this transaction. Their understanding of our business and industry and capital flexibility will provide the support necessary to execute on our growth objectives.”
Roy Chin, North Castle Partners’ Principal, added “This is our second transaction with Balance Point and we are pleased to partner with Balance Point again to optimize Blueroot’s capital structure to support the Company for its next phase of growth. Balance Point’s flexibility and fast execution proved critical in this transaction.”
About Balance Point Capital
Balance Point Capital is an alternative investment manager focused on the lower middle market. With approximately $1.7 billion in assets under management as of April 2022, Balance Point invests debt and equity capital in select lower middle market companies across a variety of investment vehicles. Balance Point takes a long-term, partnership approach to investing and is committed to building lasting relationships with its partners, management teams and intermediaries.
Balance Point Capital Advisors, LLC is a registered investment advisor. Further information is available at www.balancepointcapital.com.

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Helsinki-based Helppy is revolutionising home care and has picked up €3 million to expand across Europe

Alliance Venture

Elderly home care is a highly personal form of care provision, and its an area that has been in need of a facelift. Empowered by tech, Helppy has developed a platform that will revolutionise the sector and is based around a neighbourhood care model. The concept allows for more personal care, full transparency and higher productivity than the traditional route-based shift worker model.

As proof of its concept, the previously bootstrapped company has just picked up €3 million in a round led by Alliance Venture. Pre-seed investors Icebreaker.vc, Johannes Schildt, the Co-Founder and CEO of Kry/Livi and Elias Aalto, the Co-Founder of Wolt, also participated in the round and continued to back Helppy.

Anders Hallin, Partner of Alliance VC said: “Helppy has completely redesigned the home care model, allowing them to provide better care and better experience for all parties involved. Their model is unique and can solve many of the problems the ageing population in Europe faces from nurse shortage to the rising demand for care services.”

Founded in Helsinki in 2018, Helppy was developed when founder Richard Nordström needed care for his own mother. When his mother sadly fell ill, Richard found that the existing care provisions were too hard to organise and the service too impersonal. Helppy was developed as a tech-empowered neighbourhood model, which allows the senior to be visited by familiar ‘helppers’. From Helppy, the family member gets personal, trustworthy and affordable help for the ageing parent, hassle-free.

Richard Nordström, Founder & CEO of Helppy, explained: “We’re building the next-generation model of home care. With our model, you will get named ‘helppers’ or nurses, know who visits, know their backgrounds, get visit notes and be able to communicate with them. Using tech to make it personal and trustworthy – at the same price or lower than home care in general.” 

The Finnish startup has now helped nearly a thousand families in Finland and attracted over 5000 nurses and personal assistants to sign up on the platform and offer their help to seniors in need.

Richard Nordström, added: “We believe that our type of model will be adopted by a significant part of the home care market in the next few years, and help solve the ongoing nurse shortage. We’re seeing this happening already in the US, but now also emerging in Europe. The home care market only in Europe is worth over €100 billion and growing 8% annually. With the new funding we’re launching operations now in several markets in Central Europe. ”

With the fresh funding, Helppy will now expand beyond Finland, taking its personalised care offering to families in need across the continent. In addition, the startup will welcome former Swappie Head of DACH region Lauri Tevilin to the team to head growth plans.

Riku Seppälä, a Founding Partner of Icebreaker.vc, added: “Helppy’s team has succeeded in developing technology that revolutionizes the quality of the care for the customer. Coming from Finland and having proven their concept in the world’s most developed care market, we see that Helppy can make a real impact on the elderly care system in Europe”.

Johannes Schildt, the Co-Founder of Kry, said: “Helppy innovates elderly care by using technology to make it more continuous, personal and tailored to each individual’s needs. We need great teams who develop our welfare services and Helppy injects innovation into this much-needed part of healthcare, elderly care”.

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Advent International raises $25 billion for 10th global private equity fund

Advent International
  • Advent’s largest ever fundraise, GPE X, brings firm’s assets under management to over $100 billion
  • Fundraise demonstrates confidence in Advent’s long-established and highly effective strategy of investment, focused on specific sectors and operational improvement
  • GPE X follows the $4 billion raised by Advent Tech II, Advent’s second dedicated technology fund, in 2021
  • New Fund is more than 40% larger than Advent’s previous Global Private Equity (GPE) fund, GPE IX, which raised $17.5 billion in 2019

BOSTON and LONDON, May 24, 2022 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced that it has completed fundraising for its flagship fund, Advent International GPE X (“GPE X” or the “Fund”). The Fund reached its hard cap of $25 billion (€22.1 billion) in commitments after less than six months in the market.

Together with GPE X’s companion fund, Advent Tech II, the firm has raised over $30 billion in commitments in approximately 12 months from its limited partners and internal capital from Advent.

Building on successful strategy
Following the same successful strategy as its prior GPE funds, GPE X will have the flexibility to deploy capital across geographies, sectors, deal types and sizes. GPE X will maintain its predecessor funds’ focus on Europe and North America, while also continuing to build Advent’s active local presence in Asia.

“In our nearly 40 years of experience, one thing we know is true is that when you partner with outstanding business leaders and together build great companies, great results follow. The GPE X fundraise, alongside our recent raise for its companion fund, Advent Tech II, are a testament to the trust our investors place in us, particularly in challenging global economic and political circumstances,” said David Mussafer, Managing Partner and Co-Chair of Advent’s Executive Committee. “We are humbled and invigorated by their trust and look forward to working hard every day to continue to earn it.”

Investments in GPE X will build on Advent’s global reach, strong operational resources and the deep expertise and entrepreneurial approach of the firm’s 265 plus investment professionals across five core sectors: Business & Financial Services; Healthcare; Industrial; Retail, Consumer & Leisure; and Technology. Advent will also continue to focus on investments where it has a strong track-record, such as complex carve-outs from major corporations and public-to-private transactions. Since its inception, Advent has invested more than $15 billion in over 90 corporate carve-outs across 28 countries and has completed more than 25 public-to-private transactions. The Fund also has the potential to co-invest with Advent Tech II and Advent’s Latin America-focused fund.

“Years of focus on operationally-intensive investing is at the heart of Advent’s track record of helping nurture and grow innovative, world-class businesses” said James Brocklebank, Managing Partner and Co-Chair of Advent’s Executive Committee. “Our expanding portfolio support ecosystem, our in-house data science capability “Advent Labs”, and our prioritization of ESG in the portfolio are all examples of how we continue to develop new ways to help management teams achieve sustainable growth at scale.”

Majority owned by its partners
Advent is a privately held firm majority-owned by its partners. This partnership model is designed so that control of the firm rests with the people who work there, creating a shared goal that ensures Advent is built to deliver for its investors, companies, team and community and will continue to do so for many years to come.

Established investor base
Commitments to the Fund were secured from a broad mix of international investors, including public and private pensions, sovereign wealth funds, endowments and foundations, institutional fund managers, family offices, and high net worth individuals. Most of the Fund’s commitments came from limited partners in prior Advent funds.

This press release is not an offer or solicitation of an offer, or an invitation or inducement, to invest in any Advent International fund. No person may invest in any Advent International fund except in accordance with and subject to the terms of the applicable fund documentation and applicable law.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 390 private equity investments across 41 countries, and at the time of closing of GPE X, Advent has over $100 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 265 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For nearly four decades, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit:

Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

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KKR Closes Inaugural Asia Credit Fund at US$1.1 Billion

KKR

HONG KONG–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the final close of KKR Asia Credit Opportunities Fund (“ACOF” or the “Fund”), a US$1.1 billion fund focused on performing privately originated credit investments in Asia Pacific.

“Our credit strategy is highly complementary to our existing equity strategies in Asia, and the close of ACOF represents a significant milestone for KKR in Asia Pacific as we continue to build out our suite of investment capabilities and capital solutions across asset classes,” said Ming Lu, Head of KKR Asia Pacific. “Asia continues to benefit from favorable macroeconomic trends and long-term growth. However, the number of financing options available to companies looking to keep pace with this rapid growth has remained limited. We believe these dynamics provide an attractive landscape for alternative asset managers like KKR who are able to provide more flexible and differentiated credit solutions than traditional lenders.”

KKR’s Asia Credit platform seeks to provide bespoke private credit solutions to companies and sponsors which harness the strength of KKR’s alternative investment capabilities and its expertise as one of the largest alternative credit managers globally. The Asia Credit team leverages KKR’s local and global resources to source, diligence, and execute investment opportunities to provide customized financing, ensure capital protections, and support value creation in the process. ACOF intends to pursue investments primarily in performing privately originated credit, and broadly target opportunities across three primary investing themes, including senior and unitranche corporate lending, subordinated corporate lending, and asset-based finance investments.

Brian Dillard, Head of Asia Credit at KKR, said, “Bank capital represents approximately 80 cents of every dollar of credit capital in Asia, which is a far larger percentage than what we are seeing in North America and Europe. There is an imbalance of available financing for Asian businesses at a time when the region’s growth and prosperity have fueled an enormous demand for more flexible funding solutions by borrowers looking to seize the opportunities. With limited non-bank supply, we believe this market presents compelling opportunities for alternative credit providers like KKR. With ACOF, we are excited to play a larger role in meeting this unmatched demand and assisting leading businesses and sponsors across the region to meet their long-term growth ambitions.”

At the time of close, the Fund is the largest inaugural pan-regional fund focused on performing credit and one of the largest inaugural pan-regional credit funds to have been raised for Asia Pacific. ACOF received strong support from a diverse group of new and existing investors, including public and corporate pensions, sovereign wealth funds, commercial banks, insurance companies, asset managers and private investment groups, and family offices. KKR invested over US$100 million alongside external investors through its balance sheet and employee commitments.

In Asia Pacific, KKR has closed 14 credit investments since 2019, accounting for approximately US$2.4 billion invested by KKR and total transaction value of US$4.7 billion. This has included providing acquisition financing and bespoke capital solutions for companies and financial sponsors in the environmental services, real estate, education, infrastructure, and healthcare sectors. KKR Credit has been active in markets including Australia, Greater China, India, Korea, Malaysia, New Zealand, Singapore, and Vietnam.

KKR established its credit platform in 2004, and made its first private credit investment in 2005. Over the past 17 years, KKR has built one of the largest private credit platforms globally with the ability to invest across the capital structure and liquidity spectrum. These capabilities are paired with KKR’s approach to proprietary sourcing, capital preservation and active portfolio management to seek out long-term capital appreciation and attractive risk-adjusted returns. Today, KKR manages approximately US$184 billion of credit assets globally, including approximately US$102 billion in leveraged credit, approximately US$71 billion in private credit, and approximately US$10 billion in strategic investments, as of March 31, 2022. KKR has a team of approximately 170 credit investment professionals across nine cities in seven countries, including approximately 90 private credit investment professionals globally.

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 and on Twitter @KKR_Co.

Media:
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.co
or
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

KKR Americas
Julia Kosygina and Miles Radcliffe-Trenner
+1 212-750-8300
Media@kkr.com

Source: KKR & Co. Inc.

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Pantheon passes $2.4bn in private debt secondaries as flagship fund exceeds target

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Pantheon

Pantheon Senior Debt II USD (PSD II) closed on $834m, substantially in excess of the initial target of $500m
 With $2.4bn of capital dedicated to private debt secondaries, Pantheon is among the largest global investors in this rapidly evolving segment of alternative credit
 Platform builds on Pantheon’s long history and deep experience as a first mover in secondary investing across private market asset classes
Pantheon, a leading global private markets investor, is delighted to announce the final close of Pantheon Senior Debt II USD (PSD II), our flagship global fund dedicated to senior private debt secondary investment opportunities, on $834m, substantially in excess of the initial target of $500m.

With this close Pantheon’s total capital dedicated to private debt secondary investing has passed $2.4bn, positioning the firm as an industry leader in a rapidly evolving segment that is increasingly in demand as a liquidity solution for both investors and credit fund managers. Pantheon estimates, based on our own deal sourcing, suggest that global private debt secondary deal flow reached a record $18.4bn in 20211 – and our experience suggests that this will continue to expand.
Pantheon’s private debt secondary programs invest across the full credit spectrum, from senior to more opportunistic credit, including both LP and GP-initiated liquidity solutions, and on behalf of a global base of institutional and private wealth investors across the US, Europe and Asia, with a range of flexible investment structures.
“We are pleased with the continued growth and expansion of our leadership position in private credit secondaries, and these recent closings establish Pantheon as one of the largest scale providers of secondary-focused credit liquidity solutions globally,” said Rakesh (“Rick”) Jain, Global Head of Private Debt at Pantheon.

Mr. Jain continued: “We will continue to leverage our expertise in credit secondaries to capitalize on the growing range of compelling and often complex opportunities in this space, and to evolve our investment capabilities to meet the needs of our clients worldwide. We see increasing investor interest in credit secondaries, due to the benefits of highly invested portfolios, high levels of diversification across

company, industry, strategy and vintage year, attractive credit metrics, and shorter durations than what they might experience with other private credit investment alternatives.”
Paul Ward, Managing Partner at Pantheon, said: “Pantheon has invested in private debt for 25 years, and since the launch of our dedicated strategy in 2018 our global team of specialists has built a premier franchise in private debt secondary investing globally.”
Mr. Ward added: “This development is a key element in our broader and ongoing strategic evolution as a global leader in private market investing, with deep experience and a proven track record across all asset classes and stages, including as a first mover in secondaries across private equity, global infrastructure and private debt.”
In aggregate, Pantheon’s private debt business, which also includes primary fund investment and co-investment strategies, now has $4.7bn in assets under management or advice2, including more than $3.4bn in new capital raised3 since it was launched as a dedicated strategy in 2018 as an extension of our established secondaries capabilities.
Pantheon has invested in private equity secondaries since 1988 and in infrastructure secondaries since 2009, with a combined total of $22.7bn committed to both LP- and GP-led secondary transactions across private equity, infrastructure and private debt4.
***Ends

Notes to Editors
For further information, please contact:
Ashley Wassall, Head of Client Communications
Tel: +44 20 3356 1763 | C: +44 7776 778 620 | Email: ashley.wassall@pantheon.com

About Pantheon
Pantheon Group* (“Pantheon”) is a leading global private markets firm currently investing on behalf of approximately 865 investors, including public and private pension plans, insurance companies, endowments and foundations. Pantheon has an established reputation across private market asset classes, covering all stages and geographies, and provides investment solutions that include flagship fund offerings, as well as integrated programs and customized solutions.
As of December 31, 2021 Pantheon had $84.6 billion assets under management and advice and the firm currently has more than 400 employees located across its offices in London, San Francisco, New York, Chicago, Hong

Kong, Seoul**, Bogotá**, Tokyo, Dublin and Berlin. Its global workforce includes more than 115 investment professionals.
Pantheon is majority-owned by Affiliated Managers Group Inc. (“AMG”), alongside senior members of the Pantheon team. AMG is a NYSE-listed global asset management company with equity investments in leading boutique investment management firms. The ownership structure, with Pantheon management owning a meaningful share of the equity in the business, provides a framework for long-term succession and enables Pantheon management to continue to direct the firm’s day-to-day operations.
* Pantheon Group refers to the subsidiaries and subsidiary undertakings of Pantheon Ventures Inc. and AMG Plymouth UK Holdings Limited and includes operating entities principally based in the US (San Francisco and New York), UK (London), Hong Kong, Guernsey, Tokyo and Dublin. Pantheon Ventures Inc. and Pantheon Ventures (US) LP are registered as investment advisors with the U.S. Securities and Exchange Commission (“SEC”); Pantheon Securities, LLC is a broker dealer registered with the SEC and is a member of the Financial Industry Regulatory Authority (“FINRA”). Pantheon Ventures (UK) LLP is authorized and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom. Pantheon Ventures (HK) LLP is regulated by the Securities and Futures Commission in Hong Kong. Pantheon Ventures (Guernsey) Ltd and a number of other Pantheon entities incorporated in Guernsey are regulated by the Guernsey Financial Services Commission. Pantheon Ventures (Asia) Limited is registered as a Type II Financial Instruments Business and Investment Advisory and Agency Business Operator with the Kanto Local Finance Bureau in Japan (KLFB).
** Please note that the Bogotá office is a representative office of Pantheon Ventures (US) LP (“PV US”), and that a Korean subsidiary of PV US has opened the office in Seoul.

This press release is not an offer of securities for sale. Securities may not be offered or sold in the United States absent registration or an exemption from registration. © 2022
1 Source: Pantheon internal data. Total exposure inclusive of NAV and unfunded. As of March 2022.
2 As of December 31, 2021.
3 As of May 2022.
4 Private equity secondaries and infrastructure secondaries as of March 2022. Private debt secondaries as of April 2022. Includes deals closed and in legal closing. There is no guarantee deals in legal closing will close.

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Bettcher Industries to Acquire Automated Protein Processing Equipment Manufacturer Frontmatec from Axcel

KKR

Acquisition Represents Important Step in Building Scaled Food Processing Automation Platform

BIRMINGHAM, Ohio–(BUSINESS WIRE)– Bettcher Industries (“Bettcher”), a leading manufacturer of protein processing equipment, today announced the signing of a definitive agreement under which it will acquire Frontmatec (the “Company”) from Axcel. KKR, which acquired Bettcher in December 2021, will invest additional capital from its North American private equity strategy to support the transaction.

Headquartered in Kolding, Denmark, Frontmatec is a global manufacturer of end-to-end automated solutions for pork and beef processing, with world-class robotics and vision system capabilities. The Company serves as a full line supplier of processing equipment, parts and services, instruments, and software, which help solve key issues around food and worker safety.

The transaction represents an important step in Bettcher and KKR’s strategy to build a scaled food processing automation platform serving food processing plants globally. In addition to delivering leading automation capabilities, the purchase of Frontmatec deepens Bettcher’s footprint in Europe. Frontmatec’s executive team led by Allan Kristensen is expected to remain in place to continue to grow the business after the transaction closes.

“Frontmatec has built a leading brand and position by enabling customers to continuously improve the productivity and safety of their workforce. The Company’s capabilities in automation and its global presence make it a superb fit for the Bettcher platform, and we are excited to work with Allan and his team to extend our collective innovation leadership,” said Tim Swanson, CEO of Bettcher.

“We are excited to join forces with Bettcher and believe this strategic transaction will enable Frontmatec to continue expanding our suite of solutions which are helping to meet the accelerating global demand for improved yield in production and food quality. I would like to thank the Axcel team, who have been instrumental in developing Frontmatec into the leading provider it is today, as well as our employees for their tremendous efforts. We are proud of everything we have accomplished and are focused on the exciting opportunity to continue growing our business together with Bettcher and KKR,” said Allan Kristensen, CEO of Frontmatec.

Bettcher will continue to add other world-leading food processing capabilities, while maintaining Frontmatec’s strong culture and values. As part of the transaction, KKR will extend its employee engagement program to all employees at Frontmatec. The strategy’s cornerstone is to allow all employees to take part in the benefits of ownership by granting them the opportunity to participate in any equity return alongside KKR.

“We have great admiration for the Frontmatec team, and view the Company as a highly compelling strategic addition to Bettcher as we pursue our long-term strategy of building a scaled global platform serving customers in the food and food processing industry. We are very excited about the growth that lies ahead, and look forward to continuing to build on the platform from here,” said Dan Daniel, Chairman of Bettcher.

“We are thrilled to welcome Frontmatec and its automated food processing capabilities into the Bettcher and KKR family, and thank Axcel for creating an industry leader in automated protein processing. Importantly, we look forward to incorporating Frontmatec and making all employees owners in the combined business as the latest example of our participation in the shared ownership movement,” said Josh Weisenbeck and Brandon Brahm, Partners in KKR’s Industrials investment team.

The transaction is expected to close during the second half of 2022 subject to customary regulatory approvals. Further terms were not disclosed.

Nordea, Kirkland & Ellis and Moalem Weitemeyer served as advisors to Bettcher and KKR.

About Frontmatec

Headquartered in Kolding, Denmark, Frontmatec is a leader in end-to-end automated solutions for the red meat processing industry. Frontmatec serves more than 1,500 customers worldwide through its global manufacturing and service footprint, with key relationships with many of the largest red meat processors. Frontmatec was formed in 2016 through the consolidation of five automation platforms and employs over 1,300 people today. Visit Frontmatec at: https://www.frontmatec.com/en

About Bettcher Industries

Headquartered in Birmingham, Ohio, Bettcher is a leading developer and manufacturer of innovative equipment in the food processing and medical device industries, majority-owned by KKR. The Bettcher portfolio includes the following: Bettcher, a designer and manufacturer of handheld trimmers, tools, and cutting consumables for all protein applications; Cantrell-Gainco, a manufacturer of processing equipment and yield enhancement and yield tracking systems for various protein operations; ICB Greenline, an aftermarket replacement parts and services company focused on poultry processing; and, Exsurco Medical, a leading-edge medical device company that provides innovative products and services to transform surgical grafting, debridement, and recovery outcomes for patients with burn and trauma wounds. Visit Bettcher at: https://www.bettcher.com/en

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 and on Twitter @KKR_Co.

For Frontmatec:
Allan Kristensen, CEO
+45.262.577.12
alk@frontmatec.com

For Bettcher Industries:
Tom Tomasula, CHRO
(440) 204-3311
TomTomasula@Bettcher.com

For KKR:
Americas
Julia Kosygina / Miles Radcliffe-Trenner
(212) 750-8300
media@kkr.com

Europe
Alastair Elwen / Sophia Johnston
Finsbury Glover Hering
+44.20.7251.3801
KKR-LON@fgh.com

Source: KKR

Categories: News

KKR Leads $200+ Million Growth Investment in Enterprise Identity Protection Leader Semperis

KKR

HOBOKEN, N.J.–(BUSINESS WIRE)–Semperis, a pioneer in identity-driven cyber resilience for enterprises, today announced it has raised over $200 million in Series C funding led by KKR, with participation from Ten Eleven Ventures, Paladin Capital Group, Atrium Health Strategic Fund, Tech Pioneers Fund, and existing investors including Insight Partners. Semperis is the fastest-growing cybersecurity company in America per the Financial Times 2022 ranking. The new funding will help enable Semperis to accelerate hiring across all functions globally to better support its expanding customer base, with an emphasis on its identity-focused incident response team.

@SemperisTech, a pioneer in identity-driven cyber resilience for enterprises, today announced it has raised over $200 million in Series C funding led by @KKR_Co

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Identity systems such as Microsoft Active Directory (AD) and Azure AD, used in over 90% of enterprises, are coming under sustained attack. With its multi-layered defense approach before, during, and after an attack, Semperis offers the industry’s most comprehensive security technology for hybrid AD and other identity systems, combined with incident response expertise.

“From day one, Semperis has been on a mission to be a force for good,” said Semperis CEO Mickey Bresman, who co-founded Semperis along with Guy Teverovsky and Matan Liberman. “With Semperis’ multi-layered identity protection, organizations can fend off cyber attacks without being forced to choose between two bad options: paying the criminals or getting shut down. With the combined experience that KKR, Ten Eleven Ventures, Insight Partners, and other esteemed investors in this round bring scaling high-growth cybersecurity companies, we have an elite group of strategic partners in our corner to help advance our mission.”

KKR is investing in Semperis through its Next Generation Technology Growth Fund II, a fund dedicated to growth equity investment opportunities in the technology space. Ben Pederson, Director on KKR’s Tech Growth team, has joined Semperis’ Board of Directors.

“A very dedicated customer base, including a growing number of the largest organizations in the world, trust Semperis to defend their critical identity systems from cyberattacks,” said Ben Pederson. “The vast majority of attacks today are identity-based, targeting credentials to infiltrate businesses. Semperis’ leading identity protection technology and incident response expertise are delivering category-defining innovation, and KKR is proud to back their mission.”

In addition to scaling its staff, Semperis is dedicating a significant portion of the funding round to research and development to drive further innovation in the identity system defense market, focusing on its Directory Services Protector platform, which Gartner categorizes as an identity threat detection and response (ITDR) solution. Gartner included ITDR in its top cybersecurity trends for 2022, noting that credential misuse is a primary method attackers use to access systems and achieve their goals.

“Semperis is driving innovation in one of the most historically overlooked but critical areas of cybersecurity: identity system defense,” said Ten Eleven Ventures Founder and General Partner, Mark Hatfield. “This new funding round, among the largest cybersecurity raises so far in 2022, will enable Semperis to continue to grow its commanding position in this increasingly important market segment.”

“We’re thrilled to participate in another funding round with Semperis and continue to offer support for our mutually successful strategic partnership,” said Insight Partners Managing Director, Teddie Wardi. “We believe in Semperis’ unique approach of securing the foundational identity infrastructure, which combines industry-leading technology and incident response support to offer customers a complete identity system defense.”

Frost & Sullivan awarded Semperis the 2022 Competitive Strategy Leadership Award based on the company’s innovation and customer impact in the global AD security and recovery market.

“Semperis has unmatched experience in breach preparedness and incident response to Active Directory and other identity-based cyberattacks,” said Frost & Sullivan Industry Principal, Sarah Pavlak. “Semperis’ solution-based approach focuses not only on their premier technology to meet customer challenges but also best practices and guidance for people and processes, setting them apart from their competitors.”

For more information about Semperis’ directory protection technology and expertise or to learn about open career opportunities, visit Semperis.com.

About Semperis
For security teams charged with defending hybrid and multi-cloud environments, Semperis ensures the integrity and availability of critical enterprise directory services at every step in the cyber kill chain and cuts recovery time by 90%. Purpose-built for securing hybrid Active Directory environments, Semperis’ patented technology protects over 50 million identities from cyberattacks, data breaches, and operational errors. The world’s leading organizations trust Semperis to spot directory vulnerabilities, intercept cyberattacks in progress, and quickly recover from ransomware and other data integrity emergencies. Semperis is headquartered in Hoboken, New Jersey, and operates internationally, with its research and development team distributed throughout the United States, Canada, and Israel.

Semperis hosts the award-winning Hybrid Identity Protection conference and podcast series (www.hipconf.com) and built the free Active Directory security assessment tool, Purple Knight (www.purple-knight.com). The company has received the highest level of industry accolades, recently named to Inc. Magazine’s list of best workplaces for 2022 and ranked the fastest-growing cybersecurity company in America by the Financial Times. Semperis is a Microsoft Enterprise Cloud Alliance and Co-Sell partner.

Twitter https://twitter.com/SemperisTech
LinkedIn https://www.linkedin.com/company/semperis
Facebook https://www.facebook.com/SemperisTech
YouTube https://www.youtube.com/channel/UCycrWXhxOTaUQ0sidlyN9SA

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 and on Twitter @KKR_Co.

About Ten Eleven Ventures
Ten Eleven Ventures is the original venture capital firm focused solely on investing in digital security. The firm invests globally and at all stages, from seed to growth (the latter via its Joint Investment Alliance with KKR). Since its founding in Silicon Valley in 2015, Ten Eleven Ventures has raised nearly $US 500 million and invested in 40 leading cybersecurity companies including Twistlock, Verodin, Cylance, KnowBe4, Darktrace, and Ping Identity. For more information, please visit www.1011vc.com or follow us on Twitter @1011vc.

Contacts

Media:
For Semperis:
Ashley Crutchfield, fama PR
617-986-5025
semperis@famapr.com

For KKR:
Julia Kosygina and Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

For Ten Eleven Ventures:
Megan Dubofsky
917-576-5590
mdubofsky@1011vc.com

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3d investors invests in Jati & Kebon, an international player in outdoor furniture

3D Investors

Together with founder Johan Verbeke and the management team of Jati & Kebon, 3d investors will help build the growth of Jati & Kebon in the coming years. Johan Verbeke remains active in the company he has built and reinvests together with the management.

Jati & Kebon, based in Nazareth, has more than 25 years of experience in the design, production and sale of outdoor furniture. Its origins lie in the Verbeke family business through which the second generation, in 1995, started selling teak furniture. In order to meet the increasing demand and to be able to guarantee an optimal quality, in-house production facilities were set up in China and Indonesia. Meanwhile, Jati & Kebon has grown into a global player and established name in the outdoor furniture segment. It is one of the jewels of the Belgian ecosystem of outdoor furniture. Its customer base extends to more than 30 countries. The company has built up a strong position in the United States and Canada, among other countries, thanks to many years of partnerships with strong online and omnichannel retailers. Jati & Kebon employs 350 people in Belgium, China and Indonesia and achieves sales of around EUR 45 million.

Johan Verbeke, founder of the company: “The entry of 3d investors in our capital is a well-considered decision, which fits in with our ambition to further expand Jati & Kebon internationally. With 3d investors, we are bringing on board complementary “business builders” who will help develop the company’s strong growth potential from within the existing corporate culture. I am excited to work with the management team and 3d investors to continue building our beautiful company over the next few years.”

Yves De Backer, associate partner 3d investors: “We are strongly impressed how Jati & Kebon has grown into an international player in outdoor furniture by focusing on quality, flexibility and customer orientation. The entrepreneurship of Johan Verbeke and his management team play a key role in this and fits perfectly with the family and entrepreneurial values of 3d investors. This partnership fits seamlessly into our passion to help strong companies grow to the “next level” internationally.”

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