Category Archives: News

Energy Exemplar to be Acquired by Blackstone and Vista Equity Partners

Vista Equity

Investment will help accelerate growth and drive platform innovation to support grid reliability and the energy transition

SALT LAKE , UTAH, UNITED STATES, October 31, 2023 /EINPresswire.com/ — Energy Exemplar, a leading global provider of energy market simulation software, today announced it has agreed to be acquired by private equity funds affiliated with Blackstone (”Blackstone”) and Vista Equity Partners (“Vista”). With the backing of Blackstone and Vista, Energy Exemplar gains new resources to help accelerate growth and drive platform innovation in support of grid reliability and the energy transition.

“We are tremendously excited about this partnership and how it will accelerate our investment in our leading SaaS platform providing accurate simulation and decision support for our customers in today’s rapidly changing energy landscape,” said David Wilson, CEO of Energy Exemplar. “The combination of Blackstone and Vista brings a unique level of expertise in both the energy and software industries which will continue to propel Energy Exemplar as the go-to solution for the energy transition for all our clients around the world who are leading this charge.”

Energy market participants worldwide rely on Energy Exemplar’s platform to optimize decision-making across both new asset development and existing operations. Utilities, power producers, grid system operators, and others in the energy transition ecosystem use the software to forecast market operations, drive long-term investments, and optimize ongoing operations across their assets and systems. Energy Exemplar’s solutions offer best-in-class functionality, allowing users to model and understand the increasingly complex energy transition landscape in a single unified platform. Energy Exemplar has grown at 30% CAGR since 2018 and currently serves over 500 customers in 79 countries.

“Energy Exemplar is an established category leader with outsized growth potential in a rapidly evolving global energy market,” said Ryan Atlas, Managing Director at Vista Equity Partners. “Its platform provides a holistic view of the impact traditional and emerging energy systems have on the businesses of those leading the energy transition. Together with Blackstone, we look forward to partnering with David and the executive team, leveraging our experience in scaling transformative enterprise software companies to further accelerate innovation and customer value.”

Bilal Khan, Senior Managing Director at Blackstone Energy Transition Partners, added: “We’re thrilled to be backing Energy Exemplar, a mission-critical software provider supporting the growth of renewable energy, battery storage, and transmission grid investment required for the energy transition. Blackstone’s energy market expertise and network of connections can enhance the company’s growth trajectory. We couldn’t be more excited to work with Vista, David, and the management team to drive the next stage of development for Energy Exemplar and its technology solutions supporting grid reliability and decarbonization. This investment is the latest in a series demonstrating Blackstone’s conviction in the energy transition.”

Kirkland & Ellis LLP served as legal counsel, and William Blair served as financial advisor to Blackstone and Vista. Lazard acted as sole financial advisor, and Jones Day and Herbert Smith Freehills served as legal counsel to Energy Exemplar.

About Energy Exemplar

Energy Exemplar is a market leader in the technology of optimization-based energy market simulation. Our cloud software suite, headlined by PLEXOS® and Aurora, is used across every region of the world for a wide range of applications, from short-term analysis to long-term planning studies. It is relied upon by hundreds of organizations worldwide to inform multi-million-dollar decisions. Our people continually think of novel approaches and more realistic simulations that enhance decision making, create market opportunities and enable utilities and regulatory authorities to become smarter, more energy efficient and profitable. Energy Exemplar continues to ‘push the envelope,’ being first-to-market with the latest advances in programming and energy market simulations, as it strives to offer the most comprehensive Energy Analytics Platform to its customer base.

Blackstone Energy Transition Partners

Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having invested over $21 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable, and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders.

About Vista Equity Partners

Vista is a leading global investment firm with more than $101 billion in assets under management as of June 30, 2023. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.

Victoria Pearson
Sonder London
+44 20 3286 3965
email us here

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Oakley Capital invests in Spanish transport and logistics software business Alerce

Oakley

Oakley Capital (“Oakley”), a leading pan-European, mid-market private equity investor, is pleased to announce that Oakley Capital Origin Fund I (“Origin” or “the Fund”) has agreed to acquire a majority stake in Alerce, a leading Spanish provider of transport and logistics software solutions. Origin will invest alongside Alerce’s founding family, including CEO Pablo Pardo Garcia, who will retain a significant stake in the business, underscoring their continued commitment to the company’s success.

 

Alerce News Post

Founded in 1989 by the Pardo family, Alerce has established itself as a leading transport management software (“TMS”) provider to Spanish courier, carrier and haulage businesses operating in the “less-than-truckload” market.

Its solutions improve customer service as well as cost and environmental efficiency by providing customers with increased visibility and control over core transportation workflows associated with the shipment of physical goods. It offers a product suite centred around its carrier TMS “Alertran”, with a comprehensive and modular portfolio of adjacent products such as “Senda”, a market leading last mile delivery module. Alerce’s solutions are mission critical to its customers as evidenced by minimal churn and high levels of net retention. Alerce has market leading positions across Spain, Latin America and France through longstanding relationships with blue-chip customers.

 

 

Oakley’s Investment

Oakley’s investment in Alerce reflects its strategy of partnering with founder-owned businesses to accelerate growth and facilitate international expansion. As a trusted partner with more than 30 years track record of continuous customer-led innovation and a modern product architecture, Alerce is ideally placed to expand its product offering, both through organic product development and targeted bolt-on acquisitions, and to continue its track record of profitable growth while increasing its proportion of recurring revenues. The highly fragmented European transport and logistics software market presents an opportunity for Alerce to leverage Oakley’s expertise in buy-and-build strategies to expand into complementary markets.

 

 

Ecommerce One Statistic

Alerce’s potential for geographic growth, go-to-market acceleration and product extension aligns well with Oakley’s successful track record of scaling software businesses, demonstrated through investments, including Grupo Primavera (which was strategically combined with Cegid) WebPros, and ECOMMERCE ONE.

This transaction also highlights Oakley’s commitment to Iberia, expanding its portfolio of existing investments in the region, such as vLex, Idealista, Seedtag, Grupo Primavera (Cegid) and several higher education assets.

The completion of this transaction is contingent upon FDI approval.

Quote Peter Dubens

We are pleased to be partnering with the Pardo family on Alerce, a company which has all the characteristics we seek in a typical Oakley investment. Carrier TMS is a mission critical vertical software segment that is well positioned for innovation, and Alerce’s track record and vision align with our strategy of driving growth and technological advancement. Together, we will deliver an ambitious growth plan, enhancing efficiency and value for all stakeholders

Peter Dubens

Founder and Managing Partner — Oakley Capital

We are excited to partner with Oakley, an investor with a strong track record in driving growth, innovation and operational excellence. This collaboration will empower Alerce to introduce transformative changes and deliver even greater value to our clients, expanding our offering and driving excellence in the transport and logistics sector, while allowing us to further internationalise the company and provide access to the global market.

Pablo Pardo Garcia

CEO — Alerce

Categories: News

KKR Announces Completion Of Acquisition Of Simon & Schuster From Paramount

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the successful completion of the previously announced acquisition of Simon & Schuster from Paramount Global (NASDAQ: PARA, PARAA) in a $1.62 billion all-cash transaction. With the closing of the deal, Simon & Schuster is now a standalone private company, and the only independent major trade publisher in the U.S. It continues to be led by Jonathan Karp, President and CEO, and his talented executive team.

“This is an exciting moment for us—both a return to our roots as a standalone company and an opportunity for all of us to forge a new path together,” said Jonathan Karp, President and CEO of Simon & Schuster. “With KKR’s resources and support, we intend to become an even stronger company and a more dynamic force in our industry, while still maintaining our well-established record of editorial excellence and independence, and our unceasing focus on doing the best for our authors and their books. I know that we will build on that legacy going forward.”

“Today, Simon & Schuster and KKR are officially one family. The company is in a strong position to capture the opportunity ahead, and we look forward to building on Simon & Schuster’s reputation for delivering engaging and compelling books to readers all over the world,” said Ted Oberwager, a Partner who leads the gaming, entertainment, media and sports verticals within KKR’s Americas Private Equity business.

“In recent years Simon & Schuster has built an impressive track record of commercial success to go along with its 100-year legacy of publishing excellence. We are thrilled to work on the next phase of Simon & Schuster’s growth with Jon and the entire Simon & Schuster team. As part of that we are delighted employees will now have the opportunity to participate in the benefits of ownership in the company,” said Richard Sarnoff, Chairman of Media at KKR.

“After a highly competitive process, this is an ideal outcome for both Simon & Schuster and Paramount. Simon & Schuster is positioned well for future growth, and the transaction itself demonstrates significant value capture for Paramount and meaningfully advances our de-levering plan. It has been an honor to have Simon & Schuster as part of our Paramount family for nearly 50 years, and we wish Jon and the entire team continued success as they begin their new chapter with KKR,” said Bob Bakish, President & CEO, Paramount Global.

KKR is supporting Simon & Schuster in implementing a broad-based employee ownership program. This strategy is based on the belief that employee engagement and a strong ownership culture are key drivers in building stronger companies. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-senior management employees across more than 35 portfolio companies.

About Simon & Schuster

Simon & Schuster is a global leader in general interest publishing, dedicated to providing the best in fiction and nonfiction for readers of all ages, and in all printed, digital and audio formats. Its distinguished roster of authors includes many of the world’s most popular and widely recognized writers, and winners of the most prestigious literary honors and awards. It is home to numerous well-known imprints and divisions such as Simon & Schuster, Scribner, Atria Books, Gallery Books, Adams Media, Avid Reader Press, Simon & Schuster Children’s Publishing and Simon & Schuster Audio and international companies in Australia, Canada, India and the United Kingdom, and proudly brings the works of its authors to readers in more than 200 countries and territories. For more information about Simon & Schuster, please visit www.simonandschuster.com.

About Paramount

Paramount Global (NASDAQ: PARA, PARAA) is a leading global media, streaming and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, Paramount’s portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+ and Pluto TV. Paramount holds one of the industry’s most extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, the company provides powerful capabilities in production, distribution, and advertising solutions.

For more information about Paramount, please visit www.paramount.com and follow @ParamountCo on social platforms.

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.

For Simon & Schuster
Adam Rothberg
Senior Vice President, Corporate Communications, Simon & Schuster
(917) 270-1717
adam.rothberg@simonandschuster.com

For KKR
Liidia Liuksila and Emily Cummings
(212) 750-8300
media@kkr.com

For Paramount
Media:
Justin Dini, Executive Vice President, Head of Communications
(212) 846-2724
justin.dini@paramount.com

Allison McLarty, Senior Vice President, Corporate and Financial Communications
(630) 247-2332
allison.mclarty@paramount.com

Investors:
Jaime Morris, Executive Vice President, Investor Relations
(646) 824-5450
jaime.morris@paramount.com

Source: KKR

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Blue Owl Capital Announces Agreement to Acquire Funds Managed by Cowen Healthcare Investments from Cowen Investment Management (CIM)

Blue Owl logo

Acquisition of life sciences investment manager’s funds will add ~$1 billion in assets under management and bolster Blue Owl’s presence in the sector.

NEW YORK, New York, October 30, 2023 — Blue Owl Capital Inc. (NYSE: OWL) (“Blue Owl”) today announced an agreement to acquire funds managed by Cowen Healthcare Investments (“CHI”), a life sciences investment manager, from CIM. The transaction is subject to customary closing conditions and expected to close in the fourth quarter of 2023.

The acquisition will add approximately $1 billion in assets across several funds and further strengthen Blue Owl’s market presence in the life sciences sector with an emphasis on mid-to-late-stage equity investments into biopharmaceutical and healthcare companies. As part of the transaction, the CHI team will become full-time Blue Owl employees, including senior leaders Kevin Raidy, Tim Anderson and Rob Sine. Upon completion of the transaction, CHI’s funds will be rebranded to Blue Owl Healthcare Opportunities.

“The rapid level of innovation within science and technology is driving a deep need for private capital solutions to support the life sciences sector’s exponential growth,” said Marc Lipschultz, Co-CEO of Blue Owl Capital. “Adding CHI to Blue Owl expands our ability to better meet the needs of our investors and users of our capital who are focused on the life sciences sector.”

“CHI is a well-respected team within Life Sciences whom I’ve had the privilege of getting to know over the years,” said Sandip Agarwala, Managing Director at Blue Owl Capital. “We believe the addition of this team to our platform is highly complementary to our current investment strategy in terms of domain expertise, network, and breadth of life science capabilities.”

Blue Owl’s Life Science efforts are focused on credit, royalty and growth equity investments in innovative biopharmaceutical, medical technology, and healthcare companies and products. Recent transactions include the acquisition of a royalty interest in Novartis’ PLUVICTO (Lutetium 177Lu vipivotide tetraxetan) for the treatment of metastatic castration resistant prostate cancer, and an economic interest in Horizon Therapeutics’ TEPEZZA (teprotumumab-trbw) for the treatment of Thyroid Eye Disease.

As part of Blue Owl, CHI will continue to invest primarily in mid-development stage biotherapeutics. Adding CHI’s team and capabilities allow Blue Owl to further develop a multi-strategy Life Sciences offering, investing across growth stages and capital structure with shared resources and relationships.

SMBC served as financial advisor to Blue Owl Capital.

Investor Contact 
Ann Dai
Head of Investor Relations
blueowlir@blueowl.com

Media Contact 
Nick Theccanat
Principal, Corporate Communications & Public Policy
nick.theccanat@blueowl.com

Forward Looking Statements
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “would,” “should,” “future,” “propose,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Any such forward-looking statements are made pursuant to the safe harbor provisions available under applicable securities laws and speak only as of the date made. Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blue Owl’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, among others, that may affect actual results or outcomes include the inability to recognize the anticipated benefits of strategic acquisitions; costs related to acquisitions; the inability to maintain the listing of Blue Owl’s shares on the New York Stock Exchange (“NYSE”); Blue Owl’s ability to manage growth; Blue Owl’s ability to execute its business plan and meet its projections; potential litigation involving Blue Owl; changes in applicable laws or regulations; and the possibility that Blue Owl may be adversely affected by other economic, business, geo-political and competitive factors.

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KKR To Invest $400 Million In Leading Neutral Subsea Telecommunications Cable Services Provider OMS Group

KKR

Transaction builds on KKR’s strong momentum in Southeast Asia digital infrastructure

SINGAPORE–(BUSINESS WIRE)– KKR, a leading global investment firm, and the parent company of OMS Group (or the “Company”), a leading telecom infrastructure company and provider of subsea cable services, today announced the signing of definitive agreements under which KKR will commit $400 million in a tailored solution for OMS Group. This marks KKR’s latest digital infrastructure investment in Southeast Asia, underlining its conviction in the role digitalization plays in the region’s burgeoning internet economy.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231029552367/en/

Founded in 1988, OMS Group is a neutral provider of integrated solutions for subsea telecommunications cable services, including installation and maintenance projects. The Company maintains a more-than-three-decades track record of providing mission-critical services to clients including major subsea equipment providers, large-scale cloud service providers, and telecom companies, and is internationally accredited for its quality management system.1 Today, OMS Group is one of the largest independent operators in this sector, with a diverse fleet including cable ships and cable barges, as well as cable landing stations serving the global telecommunications market.

KKR’s investment positions OMS Group well to accelerate its growth, including through expanding its fleet size and capabilities and investing in cable landing stations and subsea cable routes to serve global fast-growing cross-border data transmission trends and the demand for comprehensive subsea cable services.

Mr Projesh Banerjea, Director, Infrastructure at KKR, said, “OMS Group has established itself as a market leader with a longstanding track record of success and growth in Southeast Asia. As demand for greater connectivity across the region continues to grow, we are delighted to work closely with Datuk Lim, Mr Ronnie Lim, and the highly rated OMS Group team to meet this critical need. Our tailored solution for OMS Group also creates strong adjacencies with KKR’s recent digital infrastructure investments and builds on long-term secular tailwinds in the region, including increased data consumption, enterprise cloud needs, a focus on digitalization by governments, and a booming digital economy. We look forward to sharing our global network and infrastructure expertise to take OMS Group to its next stage of growth.”

Datuk Soon Foo Lim, OMS Group’s Chairman, said, “OMS Group and KKR share the same vision and appreciation of the critical data infrastructure OMS Group builds and maintain for its clients. We look forward to working with Mr David Luboff, Mr Projesh Banerjea and the world-class KKR team in advancing OMS Group’s growth plans.”

Commenting on KKR’s investment, Mr Ronnie Lim, Group CEO, OMS Group, said, “KKR’s investment in OMS Group underscores the value of OMS Group’s capabilities, which provides immense economic value to communities, corporations, and countries around the world by constructing and maintaining critical subsea data infrastructure. Together with KKR’s strong track record in supporting and investing in data infrastructure assets and its platform-building expertise, OMS Group is in a stronger position to support its clients to build and maintain greater global connectivity.”

KKR is making this investment primarily from its Asia infrastructure strategy. This transaction adds to KKR’s track record of investing in digital infrastructure regionally and globally. Past KKR investments in Southeast Asia digital infrastructure have included the regional data center platform of Singtel, a leading Asian communications technology group headquartered in Singapore, and Pinnacle Towers, a digital infrastructure platform in Asia with a strong focus on the Philippines. Globally, KKR’s investments in digital infrastructure have included CyrusOne, a global leader in the development and operation of sustainable, scalable, high-availability and flexible data center solutions, and Global Technical Realty, a build-to-suit and roll-up acquisition data center platform in Europe.

The transaction is expected to be completed by Q1 of 2024, subject to customary closing conditions. Additional details of the transaction are not disclosed.

About KKR

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

About Optic Marine Group

OMS Group is a global, neutral and integrated telecommunications infrastructure company with a wide range of services covering subsea telecommunications installation and maintenance, digital infrastructure ownership and digital Infrastructure engineering, procurement, maintenance and construction (EPC) under our Interconnect Managed Services division. Our capabilities in submarine fiber-optic cable systems, include installation and repair of deep and shallow water subsea fiber-optic cable systems, permitting in principle acquisitions, project management, direct shore ends, engineering and subsea surveys. We have a strong track record in constructing and owning cable landing stations and terrestrial dark fiber in Southeast Asia.

1 ISO 9001:2015 as certified by the Joint Accreditation System of Australia and New Zealand (JAS-ANZ)

Wei Jun Ong
KKR Asia Pacific
+65 6922 5813
WeiJun.Ong@kkr.com

Derek Lim
OMS Group
+603 5569 3881 ext 137
dlim@opticmarine.com

Source: KKR

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Oakley Capital invests in domains & hosting provider Webcentral

Oakley

Oakley Capital (“Oakley”), a leading pan-European, mid-market private equity investor, is pleased to announce that Oakley Capital Origin Fund I (“Origin” or “the Fund”) has agreed to acquire a stake in Webcentral DEH (“Webcentral”), a leading Australian domains, hosting and e-mail provider, in a carve-out from its parent, Webcentral Limited, an Australia-based digital solutions company listed on the Australia Securities Exchange (ASX).

Webcentral

Founded in 1996 as one of Australia’s first domain and hosting providers, Webcentral offers an extensive portfolio of digital services to over 330,000 small and medium businesses and 2,500 enterprises across Australia and New Zealand. The company is growing profitably with high cash conversion rates as more SMEs seek to digitise their business models.

Case studies Technology

Contabo: transforming a small regional webhosting business into an SME leader16.02.23

Oakley is investing in Webcentral in partnership with veteran hosting entrepreneurs Jochen Berger and Tom Strohe, marking the latest in a series of successful collaborations in this space, including Intergenia, HEG, WebPros and Contabo.

The investment reflects Oakley’s ability to leverage its network of entrepreneurs, its sector focus and buy-and-build track record to unearth attractive investment opportunities.

Oakley and its partners will apply their extensive experience scaling SaaS and hosting companies across Europe to help Webcentral unlock opportunities in a fragmented, international hosting market that continues to grow, as global demand for cloud infrastructure solutions accelerates.

Quote Peter Dubens

We look forward to working alongside Joe and his management team to further develop Webcentral into a leading hosting business and accelerate its growth. We also welcome the opportunity to achieve this in partnership with our long-term partners Tom Strohe and Jochen Berger, proven leaders in the webhosting space who we have been fortunate enough to collaborate with over the last 10 years.

Peter Dubens

Founder and Managing Partner — Oakley Capital

Quote Joe Demase

Oakley and their partners combine a deep understanding of the domains and hosting sector with a proven value creation playbook. In partnership with Tom and Jochen, the Oakley team is uniquely positioned to support the next stage of Webcentral’s growth, enabling us to expand our capabilities, further improve our services to clients, and pursue new growth opportunities.

Joe Demase

Managing Director — Webcentral

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Clinisupplies Acquires Aquaflush TAI Portfolio To Continue Building A Leading Chronic Care Organisation

KKR

LONDON–(BUSINESS WIRE)– Clinisupplies Limited (“Clinisupplies”), a leading manufacturer and supplier of continence care consumables, today announced the acquisition of the Aquaflush transanal irrigation (“TAI”) business from Renew Medical Inc. and Renew Medical UK Limited, a US and UK manufacturer of continence products (together “Renew”).

The acquisition of the Aquaflush TAI range will enable Clinisupplies to expand its offering to include bowel management products, while also supporting patients living with chronic bowel issues through its nursing services.

Clinisupplies continues to integrate fast growing businesses, strengthening its position as a leading UK based direct-to-consumer chronic care company, providing continence care products and nursing services that helps support the NHS. Earlier this year, following an investment by funds managed by KKR, Clinisupplies announced the acquisition of Great Bear Healthcare, a UK-based manufacturer and supplier of urinary continence care products for managing acute and chronic conditions in the community.

Paul Cook, CEO at Clinisupplies, commented: “The Aquaflush business is a perfect fit with Clinisupplies’ purpose of helping people with continence issues to live more freely through the products and services we provide. It is our ambition to continue broadening this range of products and services in order to reach more consumers and healthcare professionals and to better support their needs. We are excited to add the Aquaflush range to our portfolio and to continue building on our growing position in the UK and around the world.”

Jason Tate, CEO at Renew, commented: “We have been delighted with the success Renew has enjoyed in recent years, and for the growing number of people who rely on the innovative range of Aquaflush TAI products. We are excited to see the next phase of development for the range and the growing support for Aquaflush users under the team at Clinisupplies.”

KKR invested in Clinisupplies through KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care companies. KKR has a long track record of supporting health care companies globally, having invested approximately $19 billion in the sector since 2004.

About Clinisupplies

Clinisupplies is a manufacturer and supplier of medical appliances specialising in continence products for managing acute and chronic conditions. Employing over 500 people in the UK, China and India, Clinisupplies provides its products to the NHS and delivers direct to patients’ homes through Clinidirect, its dispensing appliance contractor.

Clinisupplies is focused on developing products which are simple and discreet to use. Its product development team works with clinicians and patients to develop a strong product pipeline to be manufactured at its CE, ISO, US FDA approved facilities.

Please visit www.clinisupplies.co.uk for further information.

About KKR

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

FGS Global
Alastair Elwen / Sophia Johnston
Telephone: +44 20 7251 3801
Email: KKR-Lon@FGSGlobal.com

Source: KKR

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IK Partners to sell Aspia to Vitruvian Partners

IK Partners

IK Partners (“IK”) is pleased to announce that the IK VIII Fund has reached an agreement to sell Aspia AB (“Aspia” or “the Company”), a leading technology-enabled accounting, payroll, tax and advisory services company, to international investment firm Vitruvian Partners (“Vitruvian”). Financial terms of the transaction are not disclosed.

Aspia was formed in 2018 when IK’s flagship Mid Cap fund at the time, IK VIII, made a series of acquisitions starting with the Business Services division of PwC in Sweden and shortly followed by the Accounting and Payroll business of KPMG in Sweden and Independent Tax Advisor Skeppsbron Skatt. With the support of IK, Aspia has built a strong platform for future growth through: broadening its customer base across small, medium and large customers; expanding its service offering; enhancing its presence across the Nordics while also earning a reputation as one of the best places to work in the region. In addition, Aspia has become the most efficient technology-enabled advisory and outsourcing provider in Sweden, developing a set of industry-unique digital tools such as Aspia Go, MyBusiness, and Acture (ESG) that greatly enhance the quality of the services that Aspia is delivering to its customers.

Aspia’s management team, its partner group and employees are the foundation on which the Company’s success and positive culture is based. The cumulative efforts of each individual have enabled Aspia to become one of the most trusted service providers to the Swedish and Nordic business community.

Underpinned by the growing awareness of the mission critical nature of outsourcing services against the backdrop of an increasingly complex financial and regulatory environment, Aspia is benefiting from a rapid digitalisation trend. The Company is quickly becoming one of the most well-respected providers of technology-enabled outsourcing services delivered through a proprietary digital customer interface portal, with ample growth potential in both existing and new markets.

Together with Vitruvian, Aspia will continue its growth journey across multiple markets and service areas, in addition to further investing in the digital platforms available to its customers.

Ola Gunnarsson, CEO of Aspia, commented: “We would like to thank IK for their support, valuable insight and expertise over the past five years, which has allowed us to grow our customer base, service offering and reputation across the Nordic region. This successful partnership has given us an excellent foundation on which to further grow and develop. Our new owner, Vitruvian, has a strong track record of supporting growing companies in their service and product development as well as in their international expansion efforts. We are confident that Aspia, with the support of Vitruvian, will be able to continue accelerating its growth journey and benefit from their expertise in growth and technology-enablement.”

Alireza Etemad, Partner at IK and Advisor to the IK VIII Fund, added: “We are very proud of the role IK has played in creating one of the region’s leading technology-enabled advisory and outsourcing providers. In 2018, with the merger of three separate entities, we saw the potential for a new player in the market to cater to the specific needs of corporates across the Nordics through a combination of strong personal relationships, expertise and technology. Aspia’s growth over the past five years has been remarkable and we look forward to seeing their continued success. We wish Ola, his team and their new partners, all the very best for the future.”

Jussi Wuoristo, Partner at Vitruvian, commented: “As the financial and regulatory environment for businesses is becoming increasingly complex, Aspia has built an unrivalled combination of leading outsourcing services and digital tools to act as a trusted partner to companies in the Swedish and Nordic business community. We are excited to be partnering with the management team and partner group of Aspia to embark on the next exciting chapter of the Aspia journey.”

Completion of the transaction is subject to regulatory approvals.

For further questions, please contact:

Aspia
Pia Törnqvist
Phone: +46 (0) 706 897 659
pia.tornqvist@aspia.se

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

Vitruvian
Matthew Smallwood
Phone: +44 (0) 207 457 2020
matthew.smallwood@instinctif.com

Categories: News

Apax Funds invest in GAN Integrity

Apax

Funds advised by Apax Partners LLP (“Apax”) announced today that they have reached an agreement to make a significant growth investment in GAN Integrity (“GAN” or “the Company”), a leading provider of technology that enables proactive, integrated, real-time management and monitoring of third-party and employee risk, ethics and compliance programs. The investment will enable GAN to accelerate product development and to better serve the growing demands of global brands for risk, ethics, and compliance management software technology.

Founded in Denmark in 2004, GAN provides cloud-based software solutions covering internal and external risk areas including third-party due diligence, disclosures, incident, and risk management, as well as multiple risk domains within third-party risk management. At its core, the Integrity Platform, a no code, workflow orchestration platform, enables ethics and compliance teams to effectively assess and manage risk while affecting change by driving proactive ethical and compliant behaviour across the enterprise. The platforms’ unified view of both internal and external risks, combined with its automation capabilities, transforms an organisation’s ability to create a holistic view of its risk landscape and deploy a control environment to manage exposure and unlock sustainable growth.

Risk & compliance applications on the Integrity Platform benefit from a unified data-structure, no-code workflow technology and granular role-based access control. Every application built on the Integrity Platform, from third-party risk management to conflicts of interest, gifts, donations, antitrust, risk assessments and more, empowers companies to design and deploy tailored solutions that accommodate unique organisational setups and internal processes to drive meaningful outcomes and actionable business intelligence. The Integrity Platform empowers compliance teams with cross-application reporting connecting external and internal risks, closing the gaps on functional and data silos for a true holistic management of enterprise risk.

Nicholas Manolis, CEO, GAN Integrity, said: “We’re incredibly excited to partner with Apax in this next stage of our journey. This investment provides us with the resources and flexibility to execute on our ambitious customer product road map and growth plans, providing even more organisations around the world with a platform that makes good governance effortless. With our talented team, and Apax’s unique insights and operational expertise, we have an exciting future ahead.”

“GAN helps its customers drive significant positive impact, and we are thrilled to have the opportunity to partner with Nick and the team. Ethics and compliance behaviours start at the top of all organisations, but businesses need an effective and scalable solution to implement policies and procedures, and GAN provides just that”, said David Su, Managing Partner, Apax Global Impact.

Juan Pablo (JP) Moncayo, Principal, Apax Global Impact, said: “We couldn’t be happier to be partnering with GAN and helping to fuel the next stage of its growth. Our research confirms that the Company’s platform directly helps drive positive corporate behaviour, acting as an enabler of good governance for the benefit of employees, stakeholders, and society at large. We believe that GAN has the potential to be a leader in this important space and we look forward to working closely with the team to reach our collective ambitions.”

Financial terms were not disclosed.

-ENDS-

ABOUT GAN Integrity

GAN Integrity helps global organisations elevate business ethics everywhere. We work with the world’s smartest companies to help them manage risk, impact behaviour and deliver long term strategic value.

GAN enables enterprises to embed ethics in and around their business, by engaging everyone, from front line workers to third parties and stakeholders on their journey towards ethical business transformation. The Integrity Platform has built-in flexibility to quickly adapt to changing regulatory requirements combined with the ever-demanding ethical expectations of their employees.

 

ABOUT APAX & APAX GLOBAL IMPACT

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Internet/Consumer, Tech, Services, and Healthcare. These funds provide long-term equity financing to build and strengthen world-class companies.

Apax Global Impact seeks out opportunities to support companies which deliver tangible societal and/or environmental impact. The strategy revolves around themes including Health & Wellness, Environment & Resources, Social & Economic Mobility, and Digital Impact Enablers. Apax Global Impact leverages the deep expertise of the Apax sector teams, the strength and global scale of the Apax platform globally, and the value creation potential of Apax’s Operational Excellence Practice.

For more information see: www.apax.com.

Apax is authorised and regulated by the Financial Conduct Authority in the UK.

 

GLOBAL MEDIA CONTACT

Katarina Sallerfors

t: +44 20 7872 6300

Luke Charalambous

t: +44 20 7872 6300

Categories: News

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Apollo to provide up to EUR 1.5 billion High Grade Capital Solution to an Air France-KLM operating affiliate supported by commercial partner contracts of its Flying Blue loyalty program

Apollo logo

NEW YORK, Oct. 26, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced the signing of an agreement for Apollo-managed affiliated entities, funds and clients to invest up to €1.5 billion into an Air France-KLM (PAR: AF FP) operating affiliate holding the trademark and most of the commercial partners contracts related to Air France and KLM’s joint loyalty program (Flying Blue). Air France-KLM has committed to spend €100 million in sustainable aviation fuel over the next four years.

The inaugural European loyalty program financing transaction will provide Air France-KLM with a capital solution to further strengthen its balance sheet and enhance Flying Blue’s scalability and growth prospects. This financing is the third transaction between Apollo and Air France-KLM within the last 18 months.

Apollo Partner Jamshid Ehsani said, “Apollo is pleased to continue to serve as a capital partner to Air France-KLM. This latest transaction is indicative of our ability to provide high grade capital solutions, in scale, to high-quality corporations around the world, while creating attractive, downside protected investment opportunities for our insurance platforms, funds and clients. At Apollo, we are increasingly acting as a leading solutions provider to large global corporations active in capital intensive industry sectors, including Aviation, Real Estate, TMT, Utilities, Transportation and Pharmaceuticals, among others.”

Milbank LLP, Latham & Watkins LLP, NautaDutilh and Barclays are acting as legal counsel and financial advisor, respectively, to Apollo affiliates, funds and clients. Apollo Capital Solutions provided structuring and syndication services in connection with the transaction. Deutsche Bank AG and Skadden, Arps, Slate, Meagher & Flom LLP acted as exclusive financial and legal advisors, respectively, to Air France-KLM.

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 to private equity with a focus on three investing strategies: yield, hybrid, and 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 June 30, 2023, Apollo had approximately $617 billion of assets under management. To learn more, please visit www.apollo.com.

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

 

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