Category Archives: News

Spindrift Announces Partnership with Gryphon Investors and Appointment of Dave Burwick as CEO

Gryphon Investors

Founder Bill Creelman will retain equity ownership and move to a new role as board Chair

Spindrift Beverage Co., Inc., the leading maker of sparkling water with real squeezed fruit, announced today that Gryphon Investors, a San Francisco-based private investment firm, will acquire a majority stake in the company. Gryphon’s partnership coincides with the appointment of beverage industry veteran Dave Burwick as Spindrift’s new CEO. Bill Creelman, Spindrift’s Founder and current CEO, will move to a new role as Chair of Spindrift’s board. Creelman and the management team will retain a significant equity stake in the company. The investment, subject to customary closing conditions, is expected to be completed in the first quarter of this year. Additional terms of the transaction were not disclosed.

Spindrift was founded by Bill Creelman in his kitchen in 2010. Since then, the company has consistently achieved exceptional growth as consumers have fallen in love with Spindrift’s unsweetened sparkling waters. Today, the company is committed to proudly making things “the Hard Way” with real squeezed fruit.

“I’m incredibly proud of what we’ve built at Spindrift over the past 15 years,” said Creelman. “For this next stage of growth, we looked for two things: a leader who could understand our business and the brand as natively as the people who work here today and an investment partner with the right financial and operational resources to galvanize our market leadership. I have known and respected Dave for nearly a decade, and with his experience and Gryphon Investors’ expertise, I’m confident that we will continue to have tremendous success in growing the brand and inspiring consumers to choose beverages that are based on the belief that the best tastes come directly from nature.”

“Spindrift has a strong, beloved brand and differentiated product portfolio because it’s made with exceptional thought and care,” said Ryan Fagan, Managing Director at Gryphon. “This attention to quality underlies the company’s outsized share of growth across beverage categories—nearly tripling in size since 2020—and it’s what attracted us to invest in the business. We are thrilled to be partnering with both Bill and Dave, as well as the entire Spindrift team.” Fagan, along with Gryphon Partners Matt Farron and Mike Ferry, will be joining Spindrift’s board.

Burwick joins Spindrift following 35 years of leadership experience at global consumer brands. His positions included President and CEO of The Boston Beer Company, President and CEO of Peet’s Coffee, and President, North America at Weight Watchers. He previously spent 20 years at PepsiCo in various executive capacities, including as Chief Marketing Officer of both Pepsi-Cola North America and Pepsi-Cola International.

“I’m excited to join this dynamic team,” said Burwick. “Spindrift’s combination of talented professionals, superior products, and loyal customers has created a fantastic brand with a great future—one I can’t wait to be a part of.”

Kirkland & Ellis acted as legal advisor to Gryphon. Morgan Stanley & Co. LLC and Lazard acted as financial advisors to Gryphon. Simpson Thacher & Bartlett LLP and Morgan, Lewis & Bockius LLP acted as legal advisors to Spindrift. Piper Sandler and JP Morgan acted as financial advisors to Spindrift.

About Spindrift Beverage Co.

Founded in 2010 and based in Newton, MA, Spindrift makes premium beverages with real squeezed fruit and zero added sugar. Its line of more than 20 flavors of sparkling water, teas and lemonades, hard seltzers, and mocktails is sold through diversified channels, including grocery and specialty stores, club stores, mass market outlets, and wholesale foodservice companies across the U.S. From searching worldwide to source the best-tasting fruit to prioritizing quality throughout their carefully-hewn manufacturing process, Spindrift crafts its products to celebrate the aroma, texture, and taste of real fruit —never from concentrate—in every sip.

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.

Contacts

Press contact:  media@drinkspindrift.com

For Gryphon:

Lambert

Caroline Luz

203-570-6462

cluz@lambert.com

or

Jennifer Hurson

845-507-0571

jhurson@lambert.com

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ButterflyMX Secures Significant Growth Equity Investment from FTV Capital

FTV Capital

Investment will accelerate new product development while further solidifying ButterflyMX’s market-leading position in the multi-tenant property access and security market

NEW YORK — ButterflyMX, the leading cloud-based property access platform for multifamily and commercial properties, today announced a significant growth equity investment from FTV Capital, a sector-focused growth equity firm. With nearly 17,000 buildings and 1.5 million people using ButterflyMX daily, this investment will enable expansion into new markets, accelerate new product offerings, and solidify its position as the leading provider of property access control and security solutions.

The property access control and security market has seen massive growth driven by technological advancements, evolving resident expectations, and a growing need for safety. According to data from Market and Markets, the global market for cloud-based access control is expected to surpass $15.2 billion in annual revenue by 2029. This reflects a growing demand from property owners and managers for software-enabled solutions that boost revenue, reduce operating expenses, enhance security, and improve user experiences for everyone who lives, works, or visits a property.

ButterflyMX provides an access management and security platform that helps buildings deliver better experiences while driving significant revenue and cost savings. From video intercoms and connected access control systems to security cameras and front desk management, ButterflyMX’s property-wide suite of software-enabled products and services is purpose-built for property owners and managers of multifamily, commercial, student housing, HOAs, and gated communities. The company’s products and solutions enable customers to manage property access remotely and automate building operations while seamlessly integrating into existing property systems.

“Since our founding nearly 10 years ago, we’ve grown from just a video intercom to a fully integrated suite of access control and security products and solutions that transform the property access experience from the front entrance to every door, gate, and elevator through a building,” said Aaron Rudenstine, CEO of ButterflyMX. “The future of ButterflyMX will continue to focus on developing solutions that automate building operations, allowing for more affordable property ownership and management. As we continue on this journey, we’re pleased to have the backing of FTV Capital, a firm with a deep understanding of both vertical software and tech-enabled hardware, a vast network of partners and advisors, and a shared vision to provide products and services that revolutionize how multi-tenant properties are owned and operated.”

“Cloud-based property access solutions have become mission critical as residents increasingly demand more seamless and secure experiences and property managers look to simplify and improve operations,” said Richard Liu, partner at FTV Capital. “ButterflyMX has already asserted its market leadership with best-in-class solutions that address complexities around multi-family and commercial access for tenants, building owners, and property managers. The strong market momentum and incredibly positive customer feedback we heard was a resounding testament to the company’s unique value proposition and the compelling ROI it delivers. We are excited to partner closely with ButterflyMX to help the company meaningfully scale in its next chapter.”

“With consistent growth, excellent unit economics, and a highly scalable model, ButterflyMX is well positioned to remain the gold standard in this market,” continued Kapil Venkatachalam, partner at FTV Capital. “By being in the natural flow of key data, strategic use of AI, and leveraging an open platform that allows for seamless integration with other ecosystem players across the globe, ButterflyMX will continue to streamline operations for various types of property owners and enhance the resident experience. We look forward to partnering with Aaron and the team to drive the business forward.”

As part of this growth investment, Liu, Venkatachalam, and Chris McPherson, vice president at FTV Capital, will join ButterflyMX’s board of directors. Lead Edge Capital and Fifth Wall are participating as co-investors in this funding round, while existing investors JMI Equity and Volition Capital will continue to maintain their positions on the company’s board of directors.

Raymond James acted as financial adviser to ButterflyMX, and Houlihan Lokey acted as financial advisor to FTV Capital. Financial terms were not disclosed.

About ButterflyMX

ButterflyMX is your complete property access and security platform, providing a secure, convenient, and cost-effective way to manage and grant access on the go. Empower your tenants to open doors, gates, and elevators with a smartphone and ensure they never miss a visitor or delivery. Enjoy easy installation, cut costs by eliminating building wiring and in-unit hardware, and save time by integrating with popular access control and property management systems. Join the 16,000+ multifamily, commercial, gated community, and student housing properties that have made access simple with ButterflyMX. For more information, visit www.butterflymx.com or call (800) 398-4416.

About FTV Capital

FTV Capital is a sector-focused growth equity investment firm that has raised more than $10.2 billion to invest in innovative, high-growth companies across two sectors: enterprise technology and services and financial technology and services. Founded in 1998, FTV has developed a highly differentiated and disciplined growth equity model, which leverages the firm’s deep domain expertise and thematic investing approach to help portfolio companies accelerate growth. FTV also provides companies with access to its Global Partner Network®, a strategic group of more than 500 executives from many of the world’s leading financial services firms and FTV Propel®, an in-house team of seasoned operational leaders who deliver counsel and resources across a range of critical business functions. For more information, please visit www.ftvcapital.com and follow the firm on LinkedIn.

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Apollo and Standard Chartered Form US$3B Financing Partnership for Global Infrastructure and Energy Transition Credit

Apollo logo

Standard Chartered Acquires Minority Stake in Apterra, an Apollo Platform Specializing in Infrastructure Debt Origination

Agreement to Accelerate Capital Formation for Next-Gen Infrastructure and Transition Assets

NEW YORK and LONDON, Jan. 14, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and Standard Chartered PLC today announced a long-term strategic partnership to support and accelerate financing for infrastructure, clean transition and renewable energy globally, leveraging the leading origination and distribution capabilities of both firms.

As part of the agreement, Standard Chartered and Apollo Clean Transition Capital (“ACT Capital”), a sustainable investing platform, plan to contribute up to US$3 billion of clean energy and transition financing across a range of asset classes and sectors.

Origination for the partnership’s financing activities will be primarily undertaken by Apterra, an Apollo-owned platform that focuses on originating, structuring and deploying debt capital to execute infrastructure transactions globally. Standard Chartered has acquired a minority stake in the platform and will support its investment origination.

Jim Zelter, Apollo Asset Management Co-President, said, “The global industrial renaissance is creating unprecedented capital demands across next-gen infrastructure, sustainable power and other transition assets. This new agreement should accelerate our mutual financing and investment activity in these areas, and we are thrilled to do it in partnership with Standard Chartered, an important and long-time banking partner to Apollo’s franchise.”

Bill Winters, Group Chief Executive, Standard Chartered PLC said, “This partnership with Apollo, a market leader in alternative asset management, is a great opportunity to leverage our collective sector expertise and innovative mindset to help finance sustainable growth. Standard Chartered and Apollo have complementary origination and distribution capabilities, which increase the scale of the financing we can jointly deploy, and the size of the projects in which we can participate. We are very pleased to build on our long-term partnership with Apollo to both expand our existing geographical coverage and mobilise capital to these critical parts of the global economy.”

More Partnership Details

Apollo’s Clean Transition Capital strategy seeks to meet a wide range of clean energy and climate capital needs across credit and equities. Over the past 5 years, Apollo has deployed more than US$40 billion1 into energy transition and climate-related investments and believes the demand for capital in these areas will scale materially in the coming years.

Samuel Feinstein, Apollo Partner and President of ACT Capital, said, “We believe this partnership with Standard Chartered will serve as a significant accelerant to the growth of Apollo’s Clean Transition business and support its broader Infrastructure Credit platform, which are critical components of our firm’s strategic growth plans. We are equally pleased to welcome Standard Chartered as an aligned equity partner in the growing Apterra platform and believe we can expand our work together over time to serve the evolving needs of our global client bases. Collectively, ACT Capital and Apterra represent significant opportunities for Apollo and Standard Chartered to access climate and infrastructure credit.”

Apterra, an Apollo affiliate founded in 2023, has executed more than US$4.8 billion of transactions and is positioned to increase its already robust growth trajectory with the strategic equity support of Standard Chartered. Apterra is led by industry veterans Ralph Cho, co-CEO, and Michael Pantelogianis, co-CEO, alongside a highly experienced management team.

Standard Chartered, one of the world’s leading cross-border and wealth management banks, is among the top infrastructure lenders in Asia, Africa and the Middle East, with a strong and growing presence in the renewables sector.

Henrik Raber, Global Head, Global Banking at Standard Chartered, said: “With the global growth in infrastructure financing, and our strong presence in the sector, we are delighted to partner with ACT Capital, participate in Apterra and collaborate with the Apollo team. This is an exciting opportunity alongside our existing advisory and financing capabilities.”

As part of the partnership, Standard Chartered will provide a senior secured credit facility to ACT Capital to fund project finance and infrastructure loans. Financial terms for Standard Chartered’s purchase of a minority equity interest in Apterra are not disclosed. PJT Partners acted as exclusive financial advisor to Standard Chartered.

—

1. As of June 30, 2024. Deployment commensurate with Apollo’s proprietary Climate and Transition Investment Framework, which provides guidelines and metrics with respect to the definition of a climate or transition investment. Reflects (a) for equity investments: (i) total enterprise value at time of signed commitment for initial equity commitments; (ii) additional capital contributions from Apollo funds and co-invest vehicles for follow-on equity investments; and (iii) contractual commitments of Apollo funds and co-invest vehicles at the time of initial commitment for preferred equity investments; (b) for debt investments: (i) total facility size for Apollo originated debt, warehouse facilities, or fund financings; (ii) purchase price on the settlement date for private non-traded debt; (iii) increases in maximum exposure on a period-over-period basis for publicly-traded debt; (iv) total capital organized on the settlement date for syndicated debt; and (v) contractual commitments of Apollo funds and co-invest vehicles as of the closing date for real estate debt; (c) for SPACs, the total sponsor equity and capital organized as of the respective announcement dates; (d) for platform acquisitions, the purchase price on the signed commitment date; and (e) for platform originations, the gross origination value on the origination date.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2024, Apollo had approximately USD $733 billion of assets under management. To learn more, please visit www.apollo.com.

About Standard Chartered

We are a leading international banking group, with a presence in 52 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.

About Apterra

Apterra, an affiliate of Apollo Global Management, is a premier platform specializing in innovative financing solutions for infrastructure projects. Our tailored capital services empower clients, including financial sponsors and developers, to optimize assets and achieve sustainable growth. Fuelled by strong relationships, our distribution network ensures seamless access to capital through partnerships with banks, investors, and asset managers. We are focused on driving growth and operational integrity in the infrastructure sector, while creating enduring value for our clients. Visit www.Apterra.com to learn more.

Apollo Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

Standard Chartered Contacts

Piers Townsend
Global Head of Communications, Corporate & Investment Banking
Standard Chartered
Piers.townsend@sc.com
+6590059067

Shaun Gamble
Director, Group Media Relations
Standard Chartered
Shaun.gamble@sc.com
+442078855934

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Platinum Equity Offers Support, Temporary Housing to Employees Impacted by L.A. Fires

Platinum

BEVERLY HILLS, Calif. – The wildfires that have devasted the Los Angeles area have impacted many, including Platinum Equity and its L.A.-based employees.

Communities around Los Angeles have seen homes and schools destroyed as the wildfires have raced throughout the area, devastating entire neighborhoods and forcing evacuation orders or warnings for nearly 200,000 residents.

In response, Platinum Equity is offering full support to all employees who are either negatively impacted or helping family or friends during this difficult time.

“My thoughts and prayers are with all of our folks who have been impacted by the devastating wildfires across the Los Angeles area,” Platinum Equity Founder and CEO Tom Gores wrote to employees in an e-mail.

“Whether you are under an evacuation order, assisting friends and neighbors in need, or facing the loss of your home and community, I want to reassure you that as a member of the Platinum Family, you are not alone. We are here to support you through this difficult and uncertain time.”

The firm has reached out directly to employees in each of the affected areas, offering immediate support that includes temporary housing during periods of displacement.

“We continue to navigate uncertainty in the days ahead as the dedicated fire rescue teams work tirelessly to contain the various wildfires across our region,” Platinum Equity’s Head of Human Resources Emily Hofer said. “Mr. Gores has offered generous support to all of us, and most importantly, to our displaced employees and their families.”

With the safety and well-being of all top of mind, Platinum Equity employees have been encouraged to work from home, although the Beverly Hills office has remained open. (The building is located outside any designated evacuation warning or evacuation order zones.)

Firm leadership continues to monitor the situation and will adjust accordingly if the situation changes.

Gores and the Platinum Equity team are also currently formulating plans to aid relief and rebuilding efforts in the greater L.A. area.

The firm said it appreciates all the well-wishes and offers of support from others that have poured in from around the globe.

“As a global firm, our team in Los Angeles is grateful for all the messages of support we’ve received from our colleagues, investors and other business partners around the world,” Platinum Equity said in a released statement.

As of Monday morning, the wildfires are being blamed for 24 deaths and the destruction of more than 12,000 structures.

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AURELIUS Finance Company | National Timber Group

Aurelius Capital

AURELIUS Finance Company supports National Timber Group with GBP 35m super-senior ABL facility

London, January 14, 2025 – AURELIUS Finance Company, the Private Debt segment of AURELIUS, is pleased to announce the completion of a GBP 35m super-senior asset-based lending facility for National Timber Group (NTG). This complex, highly tailored ABL facility will replace NTG’s existing bank RCF, whilst providing significant incremental liquidity and enhanced flexibility. This will deliver increased working capital to support expected growing demand for timber.

The additional liquidity generated by the facility will increase working capital headroom as the company delivers on its growth plans. During its structuring, the team at AURELIUS Finance Company worked collaboratively with key stakeholders to create a complex and highly bespoke inter-creditor agreement to regulate the facility, alongside the existing term debt.

As is typical for a structure delivered by AURELIUS Finance Company, the facility creates the optimum level of availability by fully funding the working capital collateral base which comprises receivables and inventory across the company’s impressive national footprint.

James Marler, Director and Head of New Business at AURELIUS Finance Company commented:
“This is a landmark transaction for AURELIUS Finance Company as it demonstrates our ability to provide highly bespoke facilities of scale, at pace, for solid mid-market companies navigating complex scenarios. We were impressed by the strength of NTG’s underlying business, the quality of its management team, and by the support it has from its stakeholders. Based on this, we were determined to structure a super-senior facility which would deliver the liquidity and flexibility the business needs to realise its growth ambitions. By listening to the requirements of all key stakeholders, we were also able to tailor a highly bespoke inter-creditor agreement to facilitate the refinancing. As a team, we enjoyed the technical challenges involved in creating this structure, which we can now use to support other businesses facing similar sets of circumstances. We are delighted to welcome National Timber Group to our business.”

Emma Cunningham, CEO of National Timber Group said:
“AURELIUS Finance Company demonstrated clear enthusiasm to partner with us and to provide this financing solution, quickly crafting a term sheet which met all our key objectives from this refinancing exercise. The team then demonstrated the skills needed to meet the technical challenges of this transaction against tight deadlines. We were especially pleased that the facility which was put in place was exactly what had been outlined in the initial term sheet. This ability to deliver on the initial brief is absolutely vital in complex, fast-paced transactions. We look forward to continuing to build on our strong partnership with the AFC team.”

National Timber Group is the largest independent timber distribution and processing group in the UK. The company was formed through the acquisition of market-leading brands Thornbridge, NYTimber, Rembrand Timber and Arnold Laver. It has two main sales channels: timber merchanting and manufacturing. As a result, it serves a diverse customer base including joiners, housebuilders and contractors, and is a preferred supplier for large-scale infrastructure projects. The Group generates an annual turnover of more than GBP 300m, and has over 1,200 employees and 52 processing and distribution sites from the North of Scotland to London and the South West.

AURELIUS Finance Company was advised by Shoosmiths (Legal), and Gordon Brothers (Asset Appraisals).

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Chrysalix Carbon Neutrality Fund Announces its First Investment in Deadwood Innovations

Chrysalix

Chrysalix Venture Capital’s Carbon Neutrality Fund has made its inaugural investment in Deadwood Innovations, which upgrades low-grade lumber and waste into high-strength, sustainable products for premium engineered wood markets.

Alfred Lam

Jan 14, 2025

VANCOUVER, British Columbia and DELFT, Netherlands, Dec. 03, 2024 (GLOBE NEWSWIRE) — Chrysalix Venture Capital, a leading early-stage fund that specializes in transformational industrial innovation, is excited to announce an investment in Deadwood Innovations, developers of a solution to upgrade low-grade lumber, waste & underutilized species into high strength, durable & sustainable products in premium engineered wood markets.

“At Chrysalix, we recognize the significant challenges facing the forestry industry today, including rising costs, price volatility, shrinking margins, and the growing demand for sustainable products,” said Alfred Lam, Partner at Chrysalix. “We are excited to support Deadwood Innovations and their groundbreaking upgrading solution, which directly addresses these challenges by converting low-value feedstocks and waste into high-value products. This innovation improves sustainability and creates new market opportunities, driving growth, profitability and resilience for the sector.”

“We chose to partner with Chrysalix because they are one of the rare VC firms that truly understand industrial innovation and the unique challenges and opportunities within the forestry sector,” said Owen Miller, CEO of Deadwood Innovations. “As we enter the next phase of our journey, their expertise, extensive network, and commitment to our vision will be crucial in driving Deadwood’s growth across Canada and expansion into global markets.”

The investment will support the development of the first commercial-scale facility in Fort St. James, British Columbia, in partnership with the Nak’azdli Development Corporation. CEO John-Paul Wenger stated, “Partnering with Deadwood Innovations and Chrysalix enables us to demonstrate how investment, innovation, and collaboration can deliver meaningful economic reconciliation, diversify the forestry sector, and promote responsible forest management practices.”

Chrysalix has made this investment through its latest Industrial Innovation Fund, reaffirming its commitment to driving transformative change in resource-intensive industries such as mining, metals, forestry, energy, chemicals, manufacturing, transportation and more.

About Chrysalix Venture Capital

Chrysalix is a technology-focused VC firm that builds, mentors and connects high-growth companies. With more than 20 years of experience, Chrysalix has built its reputation on bringing disruptive innovation to the world’s largest industries by focusing on where technology meets science. Chrysalix has one of the strongest investment teams in the industry, with deep VC, technology, and corporate and entrepreneurial expertise. It is backed by more than 20 international blue-chip industrial and financial investors. For more information, visit: www.chrysalix.com.

About Deadwood Innovations

Deadwood Innovations is introducing the next step in the evolution of the forest industry. Our innovative technology transforms traditionally low-value timber into premium high-quality lumber products at a competitive price. Our mission is to unlock new profit margins and value for lumber producers while decreasing the carbon footprint of the forest industry. We are committed to enhancing the value of every tree, contributing to a more sustainable and profitable industry, and fostering mutually beneficial relationships between industry and First Nations. For more information, visit: https://deadwoodinnovations.ca/

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LearnPro acquires Redkite Systems

Apiary Capital

We are pleased to announce that the LearnPro Group has acquired Redkite Systems, adding Redkite’s market-leading Smart Training, Competency & Asset Management systems to the LearnPro virtual reality and e-learning software portfolio.

LearnPro Redkite

Redkite serves a diverse range of civilian and military fire services, including prominent global airports such as King Khalid International Airport and London Heathrow. The Redkite bolt-on follows LearnPro’s recent acquisition of Infographics, further establishing the company as a leading software provider to the global emergency services and critical infrastructure sectors.

Costi Karayannis, CEO of the LearnPro Group stated “The addition of Redkite to the LearnPro Group opens up opportunities to extend further into the global aviation and industrial sectors. We are passionate about extending our reach into relevant sectors through trusted products and believe the power of the combined group can drive even more value for our joint customers.”

“The acquisition of Redkite is an exciting opportunity for LearnPro,” said Ed Leeming, Investment Manager at Apiary Capital. “We look forward to supporting the company as it expands its customer base while continuing to deliver a high quality product to the global emergency services sector.”

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Qventus Announces $105 Million Investment, Series D Led by KKR

KKR
  • The Company is a leading AI solutions provider across inpatient and outpatient operations, continuing to drive millions of dollars in ROI for health systems partners for over a decade
  • The investment supports development and expansion of first-to-market AI Operational Assistants, extending the platform even further across clinical operations

NEW YORK–(BUSINESS WIRE)–Qventus, a leading provider of AI-based care automation software for health systems, today announced a $105 million investment led by global investment firm KKR, with additional participation from world-renowned investment firm Bessemer Venture Partners, and new strategic investors, including leading health systems Northwestern Medicine, HonorHealth, and Allina Health.

Qventus has built an AI-first care operations automation platform deployed across leading health systems in inpatient and outpatient settings. This funding accelerates the Company’s ability to provide AI-based automations and AI operational assistants in more care settings, building upon the success of its existing offerings like Qventus’ Surgical Growth and Inpatient Capacity solutions as well as new solutions built on its first-to-market AI Operational Assistants platform capability.

Hospital executives, providers, and frontline staff are overburdened by manual, fragmented, and antiquated processes, which create challenges to achieving their mission of providing excellent care to patients in their communities. Despite having top-of-the-line therapies, clinicians and equipment, healthcare systems are hindered by inefficiencies related to administrative tasks like scheduling, higher costs, and more, which collectively cost the healthcare system billions of dollars every year. In turn, reducing staff burnout from administrative tasks and enhancing productivity have become mission-critical for health systems. Qventus’ transformative solutions and AI teammates help health systems combat these challenges by intelligently automating operations and end-to-end workflows across care settings.

“Across the country, healthcare teams have to do extraordinary things to get ordinary things done every single day. Qventus has dedicated the last decade to building AI automation solutions that alleviate the administrative burden of healthcare staff so they can deliver highly reliable patient care. This funding is a testament to how these solutions generate best-in-industry return on investment, helping health systems achieve the margins needed to fulfill their mission of delivering exceptional care to their communities,” said Mudit Garg, CEO and Co-Founder of Qventus. “This capital primes us to continue maximizing our growth, delivering on our promises to our partners, and launching new, game-changing technology.”

Qventus will leverage this funding to accelerate the development and commercialization of solutions powered by its AI Operational Assistants into new care settings beyond its Surgical Growth and Inpatient Capacity solutions. Enhancing team productivity by up to 50 percent, these AI teammates work alongside care teams to reduce the administrative burden, identify potential issues upstream, surface suggested interventions, and take action to solve problems for busy staff.

“Built on a solid foundation, Qventus has navigated the evolving care landscape and emerged resilient, thanks to its sophisticated technology and proprietary data engine built over the last decade,” said Jake Heller, Partner and Head of Tech Growth Equity, Americas at KKR. “We believe Qventus is well-positioned to be a market leader in supporting care delivery at the provider level and redefining the future of health care by supporting hospital systems in operating more efficiently so they can focus on what really matters–quality care for patients.”

Since its inception in 2012, Qventus has built a suite of AI solutions to address health system pain points across care settings. In the last year alone, Qventus’ Inpatient Capacity solution, which reduces the length of stay and creates capacity, eliminated over 36,000 excess days for its health system partners, saving them millions of dollars and helping them create the capacity to serve more patients in their communities. The company’s Surgical Growth solution drives strategic surgical volume for hospitals, generating $95M in annualized contribution margin in 2024 through Qventus enabled cases. This year alone, Qventus’ platform touched more than half a million surgeries and drove 35% more robotic cases using its technology to spot gaps of time available, helping patients receive the critical care they need.

“By collaborating with Qventus, Northwestern Medicine has been able to significantly address capacity and access demands for our operating rooms which has allowed our patients quicker access to care,” said Doug King, Senior Vice President and Chief Information Officer, Northwestern Medicine. “By deploying Qventus’ solutions, Northwestern Medicine is able to reduce the burden on our clinical teams and allow them to turn their focus to caring for our patients.”

This financing follows a year of significant growth for Qventus, increasing its cadre of health system partners and expanding its team globally. The company received an impressive overall KLAS score of 92.5 percent (as of November 1, 2024) in the capacity management segment, in which 100 percent of customers included Qventus as a part of their long-term plans. Last month, Qventus additionally took home Frost & Sullivan’s Best Practices Customer Value Leadership Award for its commitment to providing best-in-class solutions that generate an average of over 10x return on investment for its hospital and health system clients.

KKR is funding this investment primarily from its Next Generation Technology III Fund.

Wilson Sonsini Goodrich & Rosati, P.C. served as legal advisor to Qventus, Latham & Watkins LLP served as legal advisor to KKR and Wilson Sonsini Goodrich & Rosati served as legal advisor to Bessemer Venture Partners.

About Qventus

For more than a decade, Qventus has been at the forefront as a provider of AI-based software automating care operations in both OR and inpatient settings. By deeply understanding the challenges faced by healthcare providers and applying modern technologies and principles proven in other industries, we empower care teams to make smarter decisions and optimize patient flow, while reducing the cognitive load on team members and improving the patient experience. Our solutions not only deliver meaningful returns but have also recently achieved the highest KLAS rating, creating a competitive edge for our clients, including health systems, independent hospitals, and academic medical centers. By integrating with EHRs, the Qventus platform leverages GenerativeAI, machine learning, and behavioral science to predict operational bottlenecks, recommend remedies, and automate processes. Explore more at www.qventus.com.

About KKR

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

Contacts

Qventus
qventus@solcomms.co

KKR
Emily Cummings
media@kkr.com

 

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TA Announces Completion of Tender Offer for Nexus AG

TA associates

BOSTON and LONDON – TA Associates (“TA” or the “Firm”), a leading global private equity firm, announced today that its holding company, Project Neptune BidCo GmbH, successfully completed its tender offer (the “Offer”) to acquire all outstanding ordinary shares and stock acquisition rights of Nexus AG (“Nexus”), a leading European software company in the e-health sector. This transaction, undertaken in partnership with the Management Board of Nexus, marks a significant milestone in Nexus’s journey, positioning the Company for continued growth and innovation away from a stock market environment.

The Offer, which commenced on November 11, 2024, for 70.00 Euro in cash per share, was completed as scheduled on January 3, 2025, at the end of the additional acceptance period. At the time of completion, the Offer was accepted for 16,402,668 Nexus shares, representing approximately 94.95% of all Nexus shares, including 26.9% which TA secured through irrevocable undertakings with key Nexus shareholders. All of such shares have been accepted for payment in accordance with the terms of the Offer, and TA expects to promptly pay for such shares.

Settlement of the Offer remains subject to customary regulatory conditions, including antitrust and foreign investment control clearances. Subject to the fulfillment of these conditions, settlement of the Offer is expected in Q1 2025, at which point TA intends to delist Nexus from the Frankfurt Stock Exchange, increasing its operational flexibility to focus on long-term growth initiatives.

“TA has followed Nexus’s growth trajectory for many years and admired its leadership in the European e-health market,” said Stefan Dandl, Director at TA. “With its modern technology platform, expansive product portfolio and unwavering focus on customer satisfaction, we believe Nexus is well positioned to capitalize on the growing demand for digital healthcare solutions.”

By taking Nexus private, TA aims to empower the Company to further strengthen its customer offerings, pursue strategic acquisitions and invest significantly in research and development, particularly in areas such as cloud computing and AI-driven solutions.

“We’re excited to partner with Ingo and the exceptional Nexus team to further advance healthcare software solutions that empower healthcare providers and improve patient outcomes,” added Birker Bahnsen, Managing Director at TA.

“Nexus has consistently delivered double-digit growth and strong financial performance,” said Dr. Ingo Behrendt, CEO of Nexus AG. “We believe our strategic partnership with TA will accelerate our ability to develop cutting-edge solutions that enhance the efficiency and quality of care for our customers. With access to significant new resources and greater flexibility to leverage industry tailwinds, we will continue driving value for healthcare providers who trust our platforms to power their digital transformation.”

“After careful consideration, The Supervisory Board and Management Board of Nexus AG unanimously concluded that this strategic partnership represents the best path forward for Nexus, its shareholders and customers,” shared Dr. Hans-Joachim König, Chairman of the Supervisory Board of Nexus AG. “We believe it creates immediate value for Nexus and are excited by the opportunities ahead.”

About TA
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 160 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong.

About Nexus AG
Nexus AG develops and distributes software solutions for the international healthcare market. With the clinical information system (Nexus / KIS) and the integrated diagnostic modules, we now have a uniquely broad and interoperable product range that can cover almost all functional requirements of hospitals, psychiatric clinics, rehabilitation and diagnostic centers within our own product families. Nexus AG employs around 2,030 people, owns sites in nine European countries and supports customers in further 71 countries, in some cases via certified dealers. Due to the continuously growing demand for Nexus products, we have been able to build up a large customer base in recent years and regularly achieve increasing sales and results. Further information on Nexus AG can be found at www.nexus-ehealth.com.

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Pediatrics Plus Partners with Leavitt Equity Partners for Next Phase of Growth

Fulcrum

Leavitt Equity Partners and Fulcrum Equity Partners Partner to Advance Pediatrics Plus’s Mission of Empowering Children and Families Through Specialized Care

CONWAY, Ark.–(BUSINESS WIRE)–Leavitt Equity Partners—a healthcare-focused private equity fund founded by former U.S. Secretary of Health and Human Services, Mike Leavitt—is proud to announce its partnership with Pediatrics Plus, a leading pediatric therapy provider based in Conway, Arkansas. In collaboration with Leavitt Equity Partners, Fulcrum Equity Partners—an operations-driven growth equity fund specializing in healthcare and B2B technology—and Western Governors University—an additional strategic partner—join the investor group to support Pediatrics Plus’s continued growth and mission.

“Pediatrics Plus has a remarkable track record of providing exceptional care and achieving outstanding outcomes for children and their families”

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Pediatrics Plus offers a range of services including physical therapy, occupational therapy, speech and language pathology, and applied behavior analysis (ABA) therapy. Pediatrics Plus has grown to now providing specialized healthcare services to more than 6,000 children with special needs and developmental delays each year.

“This partnership represents an exciting milestone in our journey,” said Scott Street, CEO of Pediatrics Plus. “Our mission has always been to provide exceptional care for children with developmental needs, and with the expertise and support of Leavitt Equity Partners and Fulcrum Equity Partners, we are well-positioned to expand into new markets and enhance our service offerings for the families we serve.”

The incumbent management team has established a robust operational foundation and an innovative service delivery model, positioning Pediatrics Plus for efficient scaling. With the combined healthcare and operational expertise of Leavitt Equity Partners, Fulcrum Equity Partners, and Western Governors University (including its investment arm, Juvo Ventures), Pediatrics Plus is well-equipped to embark on its next phase of growth, expand its impact on children and families, and address the critical supply shortage in the pediatric therapy industry.

“Pediatrics Plus has a remarkable track record of providing exceptional care and achieving outstanding outcomes for children and their families,” said Andrew Clark, Managing Partner at Leavitt Equity Partners. “We are honored to partner with their team and help them scale their mission to reach even more children and families in need.”

“Pediatrics Plus embodies the entrepreneurial spirit and commitment to excellence that we seek in our partners,” added Chad Hooker, Principal at Fulcrum Equity Partners. “We are excited to collaborate and build on their success, helping them unlock new opportunities for growth and innovation.”

Pediatrics Plus founders, Todd and Amy Denton, will continue forward as the largest shareholders of Pediatrics Plus and will both continue to serve on the Board of Directors. “We are delighted to partner with Leavitt Equity Partners and Fulcrum Equity Partners to continue to advance the mission of high-quality pediatric therapy within current and new markets,” said Amy Denton. “We believe this new partnership will accelerate the Company’s growth and opportunities to serve more families and we are excited for this next chapter for Pediatrics Plus.”

Stephens Inc. acted as exclusive financial advisor and Bass Berry & Sims PLC acted as legal advisor to Pediatrics Plus.

Dorsey & Whitney LLP acted as legal advisor to Leavitt Equity Partners.

McDermott Will & Emery acted as legal advisor to Fulcrum Equity Partners.

About Pediatrics Plus

Pediatrics Plus is a specialized pediatric healthcare provider that utilizes a unique and innovative blended service model designed to deliver the best outcomes for children. Operating with a progressive mindset, the organization consistently seeks and discovers more effective ways to achieve greater results for its clients. With growing experience, Pediatrics Plus has continually challenged itself to think outside the box, adding diverse services and delivery models to overcome obstacles that might prevent children from accessing or benefiting from the care they need. Learn more at https://www.pediatricsplus.com/

About Leavitt Equity Partners

Leavitt Equity Partners is a value-add, healthcare focused private equity firm. Founded in 2014 by Michael Leavitt, former United States Secretary of the Department of Health and Human Services, LEP leverages the healthcare intelligence and broad network of its Principals to help portfolio companies thrive in a complex and ever-changing healthcare system.

LEP manages over $400 million in capital, raised primarily from strategic healthcare partners including healthcare provider systems, national and regional health insurers, healthcare service providers, healthcare IT companies, pharmaceutical companies, and healthcare executives and entrepreneurs. Learn more at http://www.leavittequity.com.

About Fulcrum Equity Partners

Fulcrum Equity Partners is an Atlanta-based growth equity firm that gives entrepreneurs the capital and hands-on support they need to take their companies further, faster. Fulcrum invests in healthcare services and B2B tech executives searching for $5 million to $30 million of equity in minority and majority growth opportunities. Fulcrum’s partners believe in building businesses the right way, meeting teams where they are, and helping them imagine a bigger and brighter future by building the right systems, processes, teams, and culture. All of that starts with the right experience, the right support, and the right relationship. Learn more at http://www.fulcrumep.com.

About Western Governors University

Western Governors University (WGU) is a nonprofit, online university driven by a mission to expand access to education and opportunity. Founded by a bipartisan group of U.S. governors in 1997, WGU is committed to reinventing higher education by putting students at the center of learning. Through its competency-based approach, WGU enables students to progress at their own pace, measuring success through mastery of skills rather than time spent in class. With a focus on affordability, flexibility, and workforce relevance, WGU serves over 150,000 students across the nation and has awarded more than 400,000 degrees in fields such as healthcare, business, education, and IT. Learn more at www.wgu.edu.

Contacts

Media Contact:
Stormy Goeckeritz
Leavitt Equity Partners
801-879-2340
Stormy.Goeckeritz@leavittequity.com

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