Category Archives: News

Maki.vc closes a new sustainability and deep tech-focused fund at EUR 100 million

Tesi

 

Helsinki-based venture capital investor Maki.vc has raised its second fund, sized at 100 million euros. Maki.vc Fund II will invest in seed-stage startups across Europe with a focus on sustainability and deep tech. Among others, investors include both Tesi and KRR IV fund-of-fund it manages. Tesi has also invested in the investor’s previous fund, Maki.vc Fund I.

“With Maki.vc, we are particularly intrigued by their open and enthusiastic approach to companies promoting deep tech and sustainability, as well as their courage to invest in these sectors. For instance, Maki.vc has invested in IQM, a company that develops quantum computers, and in Spinnova, which develops cellulose into raw material for the textile industry. Maki.vc’s portfolio companies create positive societal impact and that is why we wanted to invest in their new fund, too,” comments Investment Director Tapio Passinen.

Read more:

Blog post on the Maki.vc Fund II by Maki.vc 15.9.2021

Additional information:

Tapio Passinen, Investment Director, Fund Investments, Tesi
+358 40 840 3681
tapio.passinen@tesi.fi

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with private co-investors, to create new success stories. Our investments under management total 2.1 billion euros. www.tesi.fi | @TesiFII

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Storykit raises $10M to fuel global growth

Bonnier Ventures

Storykit, the leading video creator in the Nordics, announced today it has raised $10 million USD in funding, in a growth financing round led by Expedition Growth Capital.

Storykit has almost doubled in 2021, leveraging artificial intelligence to enable companies to create more video than ever before. With the new funding they will accelerate innovation and expansion at an even higher pace.

“We are thrilled to partner with Expedition Growth Capital to realize the enormous potential of Storykit. Video is the number one format for social channels in 2022 and beyond, and with Storykit any marketer or communicator can leverage the power of video. We’ve experienced colossal growth over the past few years, which reflects the increasing demand for organizations to create video with high quality and flexibility, in an ultra-high tempo. We’re really looking forward to fulfilling the strong market demand for our video creator on a global scale,” said Peder Bonnier, CEO and co-founder of Storykit.

Serving predominantly large and medium sized enterprises, Storykit has quickly grown to become the leading video creator in the Nordics, and has recently expanded into several European markets. Key customers include Skandia, Dun & Bradstreet, the City of Stockholm and Lufthansa Systems.

“We have nearly doubled our revenues in the last twelve months, fully on our own cash flow, and are happy to have found yet another partner who is interested in building long lasting, economically viable businesses, without having to compromise on growth. This investment will enable us to further invest in our already market leading product, and expand to more markets and customer segments”, says Peder Bonnier.

Expedition Growth Capital is a $200+ million London-based growth equity fund, focused solely on investing in fast growing and capital efficient B2B software companies in Europe and Israel. This is their first investment in the Nordics.

“Since our first conversations with Storykit in 2020, we have been energised by their commitment to building a company for the long term. This is our first investment in Sweden, and we are delighted to be partnering with such a high quality group of founders and investors”, said Oliver Thomas, Managing Partner of Expedition Growth Capital.

David Olsson, who led the investment and will join Storykit’s board of directors, adds:

“Storykit is addressing an increasingly universal corporate and departmental need – to rapidly produce video content that is highly professional, brand aligned, and cost effective. We see enormous potential for the company in the years ahead and look forward to being a supportive partner for the Storykit team.”

 

Storykit was founded in 2018 by Fredrik Strömberg and Peder Bonnier. By building the complete video creator they aim to enable everyone who can write text to create video. With over 500 customers, and tens of thousands of users all over the world, they are well on their way. For more information, see www.storykit.io

Expedition Growth Capital is a software-specialist growth equity investor, currently investing a $200 million fund. The firm provides growth capital, shareholder liquidity and supportive minority partnership to rapidly growing, capital efficient software companies across Europe and Israel. For more information see www.expedition.capital.

Storykit has almost doubled in 2021, leveraging artificial intelligence to enable companies to create more video than ever before. With the new funding they will accelerate innovation and expansion at an even higher pace.

“We are thrilled to partner with Expedition Growth Capital to realize the enormous potential of Storykit. Video is the number one format for social channels in 2022 and beyond, and with Storykit any marketer or communicator can leverage the power of video. We’ve experienced colossal growth over the past few years, which reflects the increasing demand for organizations to create video with high quality and flexibility, in an ultra-high tempo. We’re really looking forward to fulfilling the strong market demand for our video creator on a global scale,” said Peder Bonnier, CEO and co-founder of Storykit.

Serving predominantly large and medium sized enterprises, Storykit has quickly grown to become the leading video creator in the Nordics, and has recently expanded into several European markets. Key customers include Skandia, Dun & Bradstreet, the City of Stockholm and Lufthansa Systems.

“We have nearly doubled our revenues in the last twelve months, fully on our own cash flow, and are happy to have found yet another partner who is interested in building long lasting, economically viable businesses, without having to compromise on growth. This investment will enable us to further invest in our already market leading product, and expand to more markets and customer segments”, says Peder Bonnier.

Expedition Growth Capital is a $200+ million London-based growth equity fund, focused solely on investing in fast growing and capital efficient B2B software companies in Europe and Israel. This is their first investment in the Nordics.

“Since our first conversations with Storykit in 2020, we have been energised by their commitment to building a company for the long term. This is our first investment in Sweden, and we are delighted to be partnering with such a high quality group of founders and investors”, said Oliver Thomas, Managing Partner of Expedition Growth Capital.

David Olsson, who led the investment and will join Storykit’s board of directors, adds:

“Storykit is addressing an increasingly universal corporate and departmental need – to rapidly produce video content that is highly professional, brand aligned, and cost effective. We see enormous potential for the company in the years ahead and look forward to being a supportive partner for the Storykit team.”

 

Storykit was founded in 2018 by Fredrik Strömberg and Peder Bonnier. By building the complete video creator they aim to enable everyone who can write text to create video. With over 500 customers, and tens of thousands of users all over the world, they are well on their way. For more information, see www.storykit.io

Expedition Growth Capital is a software-specialist growth equity investor, currently investing a $200 million fund. The firm provides growth capital, shareholder liquidity and supportive minority partnership to rapidly growing, capital efficient software companies across Europe and Israel. For more information see www.expedition.capital.

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Ratos to place all of its Swedish construction operations in new Svensk Samverkansentreprenad Aktiebolag (SSEA) Group

Ratos

Ratos has established Svensk Samverkansentreprenad Aktiebolag (SSEA) Group with the ambition of becoming Sweden’s leading construction group in partnering and collaboration contracts. The Ratos company Vestia Construction Group and HENT’s Swedish operations will be part of the group. The goal is “555”: SEK 5 billion in sales within 5 years, with an EBITA margin of 5%.

“Ratos strongly believes in partnering and collaboration in construction contracts. We know this leads to increased satisfaction and lower total costs for the customer as well as significantly fewer miscommunications. Now all of Ratos’s Swedish construction operations will be part of a joint group following the creation of SSEA Group, Sweden’s leading player in partnering contracts,” says Christian Johansson Gebauer, President Business Area Construction & Services at Ratos.

 

Vestia Construction Group holds a leading position in partnering and collaboration contracts in the Gothenburg region, with sales of SEK 891m in the last 12 months and an EBITA margin of 5.1%. Ratos acquired 62% of the shares in the company in spring 2021 and since then has been impressed by the company’s ability to have the highest levels of customer satisfaction in the market along with industry-leading profitability.

 

HENT Sweden has demonstrated impressive growth since it was formed in 2016 and is now an established player within major complex contract partnerships across all of Sweden. The company recently completed Sara Kulturhus in Skellefteå, one of the world’s tallest buildings made out of wood. HENT Sweden had SEK 1,612m in sales in the last 12 months, with an EBITA margin of 2%.

 

“By combining Vestia’s corporate culture and experience in collaboration and partnering with HENT Sweden’s experience with major complex projects, we’ll create a strong and competitive player in the Swedish construction market. We’ll continue our successful partnerships with the companies’ existing customers while also strengthen our offering for new customers,” says Christian Wieland, incoming President & CEO of SSEA Group.

 

SSEA Group has signed an agreement with HENT AS to acquire 100% of the shares in HENT Sverige AB. HENT AS will maintain its presence in the Swedish market through a partnership with SSEA Group.

 

“We’re very pleased to have built up a strong construction contractor in Sweden which will now become part of the new Swedish construction group at Ratos. HENT AS will concentrate its operations in Norway, while we and our customers will still have access to the Swedish market. We look forward to a positive collaboration with our new sister company SSEA Group,” says Jan Jahren, President & CEO of HENT AS.

 

Christian Wieland will remain CEO of Vestia in addition to his new role as President & CEO of SSEA Group. Jan Krepp, who is currently CEO of HENT Sverige AB, will remain CEO of SSEA (currently HENT Sverige AB).

 

The foundation of SSEA Group and acquisition of HENT Sverige AB are expected to be concluded in December 2021. The group will be part of the Construction & Services business area at Ratos.

 

For further information
Christian Johansson Gebauer, President Business Area Construction & Services, Ratos
+46 8 700 17 00

 

Christian Wieland, incoming President & CEO, SSEA Group
+46 706 54 09 30

 

About Ratos
Ratos is a business group consisting of 13 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 36 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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Afterburn Holdings, a Leading Franchisee of Orangetheory® Fitness, Acquires Washington State Area Representative

Brentwood

Brentwood Associates partners with Garnett Station Partners to finance the acquisition and support future growth

HOUSTON–(BUSINESS WIRE)–Afterburn Holdings (“Afterburn”), a leading Orangetheory® Fitness franchisee, has expanded into the Pacific Northwest with the recent acquisition of eighteen owned studios, thirteen sub-franchised studios, and area development rights to the state of Washington. Afterburn now operates and oversees 89 studios across several high growth markets and has grown its studio footprint by over four times since partnering with Brentwood Associates (“Brentwood”) in December 2018.

Concurrent with the transaction, Brentwood partnered with Garnett Station Partners (“Garnett Station”) to help Afterburn finance the acquisition. Brentwood and Garnett Station will continue to support Afterburn in its future growth.

Jim Potesta, President and CEO of Afterburn, stated, “We are excited to expand the Afterburn footprint into the growing Washington fitness market and to leverage our operational expertise to deliver a best-in-class Orangetheory Fitness experience to our members. We look forward to partnering with a highly experienced local team to return Washington to its strong, pre-pandemic performance, continuing our successful partnership with Brentwood, and cultivating a new partnership with Garnett Station.”

Chris Reekie, Principal at Brentwood, commented, “Jim and team have continued to demonstrate strong operational excellence, especially while navigating the challenging fitness environment of the last two years. The Washington market aligns well with Afterburn’s strengths in managing high-volume studios, and we look forward to seeing them deliver an exceptional member experience in their existing and new markets. Combined with our new partnership with Garnett Station, this strategic acquisition further solidifies Afterburn’s position as a top franchisee in the Orangetheory Fitness system.”

Alex Sloane, Co-Founder and Managing Partner at Garnett Station, added, “We are pleased to work alongside Brentwood to help Jim and the Afterburn team achieve this goal, and to be a partner to further accelerate Afterburn’s significant growth potential.”

Orangetheory® utilizes technology and a science-backed combination of endurance, strength and power to deliver superior fitness results. The Orangetheory® brand has garnered attention for the strong sense of community it generates within its member base. Classes are group-based and incorporate real-time results displayed on large screens in the studio, allowing participants to track progress on their goals in real time. The combination of exercise, technology and community renders the Orangetheory® workout a powerful tool, effective for all fitness levels.

Piper Sandler & Co. served as exclusive financial advisor to the seller of the Washington state area representative. Burr & Forman LLP served as legal counsel to Afterburn. Lane Powell PC served as legal counsel to the seller.

ABOUT AFTERBURN HOLDINGS

Afterburn Holdings is a leading franchisee and area representative of Orangetheory Fitness, founded in 2013 and headquartered in Houston, Texas. The Company operates and oversees 89 Orangetheory Fitness studios across territories in Texas, Florida and Washington.

ABOUT ORANGETHEORY® FITNESS

Orangetheory is a heart-rate based total-body group workout that combines science, coaching and technology to produce maximum results from the inside out. Workouts are typically 1-hour long and are led by trained coaches, incorporating endurance, strength, and power to guide members through 5 different heart rate zones. The workout aims to increase excess post-exercise oxygen consumption (EPOC or the ‘Orange Effect’) whereby participants can continue to burn a higher rate of calories for 24 to 36 hours after their workout. There are currently over 1,300 fitness studios worldwide in the Orangetheory system.

ABOUT BRENTWOOD ASSOCIATES

Brentwood Associates is a Los-Angeles based private equity investment firm with a 30+ year history of investing in middle-market growth-oriented consumer & technology-enabled business services companies. Core sectors of investment include branded consumer products and services, health and wellness, beauty, personal care, food & beverage, multi-unit restaurant and specialty retail, e-commerce, and education. Since 1984, Brentwood’s dedicated private equity team has invested in over 50 portfolio companies with an aggregate transaction value of over $6 billion. With significant experience in both investing and brand building, Brentwood is a value-added partner for entrepreneurs and senior management teams building world-class companies. For more information about Brentwood, please visit www.brentwood.com.

ABOUT GARNETT STATION PARTNERS

Garnett Station Partners is a principal investment firm founded in 2013 by Matt Perelman and Alex Sloane. Garnett Station partners with experienced and entrepreneurial management teams and strategic investors to build value for its portfolio of growth platforms. The firm draws on its global relationships, operational experience and rigorous diligence process to source, underwrite and manage investments. Core sectors include food & beverage, health & wellness, automotive and business services. Garnett Station’s culture is based on the principles of entrepreneurship, collaboration, analytical rigor and accountability. For more information, please visit www.garnettstation.com.

Contacts

Kate Klein
(832) 910-9084

Read the Full Press Release Below:

Afterburn Holdings, a Leading Franchisee of Orangetheory® Fitness, Acquires Washington State Area Representative

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Storykit raises $10M to fuel global growth

Bonnier Ventures

Storykit, the leading video creator in the Nordics, announced today it has raised $10 million USD in funding, in a growth financing round led by Expedition Growth Capital.

Storykit has almost doubled in 2021, leveraging artificial intelligence to enable companies to create more video than ever before. With the new funding they will accelerate innovation and expansion at an even higher pace.

“We are thrilled to partner with Expedition Growth Capital to realize the enormous potential of Storykit. Video is the number one format for social channels in 2022 and beyond, and with Storykit any marketer or communicator can leverage the power of video. We’ve experienced colossal growth over the past few years, which reflects the increasing demand for organizations to create video with high quality and flexibility, in an ultra-high tempo. We’re really looking forward to fulfilling the strong market demand for our video creator on a global scale,” said Peder Bonnier, CEO and co-founder of Storykit.

Serving predominantly large and medium sized enterprises, Storykit has quickly grown to become the leading video creator in the Nordics, and has recently expanded into several European markets. Key customers include Skandia, Dun & Bradstreet, the City of Stockholm and Lufthansa Systems.

“We have nearly doubled our revenues in the last twelve months, fully on our own cash flow, and are happy to have found yet another partner who is interested in building long lasting, economically viable businesses, without having to compromise on growth. This investment will enable us to further invest in our already market leading product, and expand to more markets and customer segments”, says Peder Bonnier.

Expedition Growth Capital is a $200+ million London-based growth equity fund, focused solely on investing in fast growing and capital efficient B2B software companies in Europe and Israel. This is their first investment in the Nordics.

“Since our first conversations with Storykit in 2020, we have been energised by their commitment to building a company for the long term. This is our first investment in Sweden, and we are delighted to be partnering with such a high quality group of founders and investors”, said Oliver Thomas, Managing Partner of Expedition Growth Capital.

David Olsson, who led the investment and will join Storykit’s board of directors, adds:

“Storykit is addressing an increasingly universal corporate and departmental need – to rapidly produce video content that is highly professional, brand aligned, and cost effective. We see enormous potential for the company in the years ahead and look forward to being a supportive partner for the Storykit team.”

 

Storykit was founded in 2018 by Fredrik Strömberg and Peder Bonnier. By building the complete video creator they aim to enable everyone who can write text to create video. With over 500 customers, and tens of thousands of users all over the world, they are well on their way. For more information, see www.storykit.io

Expedition Growth Capital is a software-specialist growth equity investor, currently investing a $200 million fund. The firm provides growth capital, shareholder liquidity and supportive minority partnership to rapidly growing, capital efficient software companies across Europe and Israel. For more information see www.expedition.capital.

Categories: News

KKR Releases 2022 Global Macro Outlook

KKR

Henry McVey: A Different Kind of Recovery

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today released its 2022 Global Macro Outlook piece by Henry McVey, Head of Global Macro and Asset Allocation (GMAA) and CIO of KKR’s Balance Sheet.

In “A Different Kind of Recovery,” McVey outlines his team’s perspective on entering a period of reflation that will look dramatically different from other recent economic recoveries and why this environment will favor investors who take a thematic top-down approach and are willing to lean into uncertainty.

In McVey’s view, the following five factors make this recovery unlike the prior cycle that unfolded after the 2008 downturn:

  1. This recovery is being driven by the West, not the East.
  2. It is heavily front-loaded, with the one-two punch of both monetary and fiscal stimulus.
  3. Input costs, the team believes, will stay higher for longer, driven by rising wages and reconfiguration of global supply chains.
  4. Periodic growth slowdowns will likely be more driven by supply constraints rather than demand issues, with COVID flare-ups and the global energy transition amplifying tightness in supply.
  5. Outside of China, real rates generally will lag this cycle.

Against this economic backdrop, McVey and his team highlight the following top-down themes for investors to consider as they look ahead to 2022:

  • Pricing Power: Higher input costs and supply chain pressures have created an environment that strongly favors companies with pricing power, which leads us to expect a major valuation differential to emerge between price makers and price takers.
  • Collateral-Based Cash Flows: Given the unusual backdrop of rising cyclical inflation, more stimulus, and higher commodity prices, we believe that demand for collateral-based cash flows, including Infrastructure, Real Estate, and Asset-Based Finance, will accelerate more than many investors now think.
  • Digitalization and Decentralization: We are in an “innovation boom” and the pace of disruption only continues to accelerate. In particular, we believe that blockchain-driven decentralization is a cross-industry development that investors should watch closely.
  • Normalization and Return to Services: We believe that investors should consider increasing exposure to the service sector, which is likely to grow with consumers ramping up their exposure to “experiences” over the next 24-36 months. We are not bearish on goods, but some mean reversion in the services sector is likely to occur, we believe.
  • The Energy Transition: Environmental considerations are a major investment opportunity, particularly amidst growing concerns about supply chain resiliency. This mega theme is broad-based, and as such, we think that almost all aspects of Environmental, Social and Governance (ESG) factors are worth considering, including climate action.
  • Savings Bull Market: There are several important forces to consider that we think make savings an extremely compelling investment theme to pursue, including retirement products and financial planning linked to intergenerational wealth transfer.

In addition to the aforementioned insights and themes, the report details the GMAA team’s updated views on growth, interest rates, commodities, currencies, and asset allocation. It also provides a view on potential macro and geopolitical risks, as well as possible hedging strategies to mitigate downside risk.

Links to access this report in full as well as an archive of Henry McVey’s previous publications follow:

  • To read the latest Insights, click here.
  • To download a PDF version, click here.
  • For an archive of previous publications please visit www.KKRInsights.com.

About Henry McVey

Henry H. McVey joined KKR in 2011 and is Head of the Global Macro, Balance Sheet and Risk team. Mr. McVey also serves as Chief Investment Officer for the Firm’s Balance Sheet, oversees Firmwide Market Risk at KKR, and co-heads KKR’s Strategic Partnership Initiative. As part of these roles, he sits on the Firm’s Investment Management & Distribution Committee and the Risk & Operations Committee. Prior to joining KKR, Mr. McVey was a Managing Director, Lead Portfolio Manager and Head of Global Macro and Asset Allocation at Morgan Stanley Investment Management (MSIM). Learn more about Mr. McVeyhere.

About KKR

KKR is a leading global investment firm that offers alternative asset management and 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 The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

The views expressed in the report and summarized herein are the personal views of Henry McVey of KKR and do not necessarily reflect the views of KKR or the strategies and products that KKR offers or invests. Nothing contained herein constitutes investment, legal, tax or other advice nor is it to be relied on in making an investment or other decision. This release is prepared solely for information purposes and should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any securities or to adopt any investment strategy. This release contains projections or other forward-looking statements, which are based on beliefs, assumptions and expectations that may change as a result of many possible events or factors. If a change occurs, actual results may vary materially from those expressed in the forward-looking statements. All forward-looking statements speak only as of the date such statements are made, and neither KKR nor Mr. McVey assumes any duty to update such statements except as required by law.

Media:
Cara Major or Julia Kosygina
212-750-8300
media@kkr.com

Source: KKR

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DL Energy to Acquire Minority Stake in CPV Fairview Energy Center from Apollo Infrastructure

Transaction Comes Amid Strong Performance of CPV Fairview, a Leading Local Provider of Environmentally Responsible Electric Power

NEW YORK and SEOUL, South Korea, Dec. 16, 2021 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and DL Energy today announced that DL Energy has agreed to acquire a 25% equity interest in CPV Fairview Energy Center (“CPV Fairview”) from Apollo Infrastructure Funds. CPV Fairview is a state-of-the-art 1,050MW power generation company dedicated to increasing America’s energy sustainability by providing safe, reliable, cost-effective and environmentally responsible electric power.

The Apollo Funds invested in CPV Fairview in 2018, supporting the energy center’s construction and strong operations since. CPV Fairview, based in Jackson Township, PA, has the capacity to supply more than 1 million homes and businesses with electricity. It is one of the most efficient gas units in the PJM-MAAC region and serves an increasingly critical role in helping Pennsylvania meet its energy demands while lowering energy costs and emissions.

“We are proud to have supported CPV Fairview’s construction and operations to-date as the facility helps Pennsylvania access cleaner, more reliable power while creating new, high-quality jobs,” said Apollo Partner Trevor Mills. “CPV Fairview is well positioned to continue growing and serving the community under its existing and future new owners CPV, Osaka and DL Energy.”

Apollo’s Co-Head of Infrastructure and Natural Resources Geoffrey Strong added, “Through this infrastructure fund investment, we are pleased to have helped construct and operate a state-of-the-art power facility and it’s representative of the many commitments we are making across the Apollo platform into the power and utilities sectors.”

Apollo has been highly active in investing in power and utilities and also in supporting companies driving the clean energy transition. In November, Apollo Funds acquired a 50% stake in leading energy storage and renewable energy platform, Broad Reach Power, and recently committed more than $820 million of funding to NextEra Energy Partners for its stake in a renewable energy generation portfolio. Notable activity also includes the formation of a joint venture with Johnson Controls, IonicBlue, to provide sustainability and energy efficiency services for commercial buildings; an equity commitment to FlexGen Power Systems; fund portfolio company Takkion acquiring RENEW, a leading O&M solutions provider for the renewable energy market; investing in sustainable bioenergy producer AS Graanul Invest; and forming a joint venture to accelerate growth of Great Bay Renewables.

The transaction is subject to customary closing conditions and is expected to be completed by Q1 2022. As a result of the transaction, DL Energy will join CPV Fairview’s existing equity owners Competitive Power Ventures (CPV) and Osaka Gas.

Macquarie Capital (USA) Inc. served as financial advisors and Vinson & Elkins LLP served as legal counsel to the Apollo Funds in the transaction.

About Apollo
Apollo is a high-growth, global alternative asset manager. 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 business strategies: yield, hybrid and equity. Through our investment activity across our fully integrated platform, we serve the retirement income and financial return needs of our clients, and we offer innovative capital solutions to businesses. Our patient, creative, 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, 2021, Apollo had approximately $481 billion of assets under management. To learn more, please visit www.apollo.com.

About DL Energy
DL Energy is a Korean company founded to be a global provider in the energy and infrastructure sectors with a particular focus on power and resources.  It intends to cover the full energy value chain of investment, development, financing, EPC and O&M through its EPC track records, in-house O&M/procurement capabilities and relationship with major developers and financial institutions. DL Energy has participated in various Independent Power Provider deals and invested more than 5.8GW conventional, renewable power plants not only in developed countries such as USA, Korea and Australia, but also in developing countries such as Jordan, Chile, Bangladesh, Pakistan where the demand for electricity is rapidly rising. To learn more, please visit www.dlenergy.co.kr.

Apollo Contact Information:

For Investors:
Noah Gunn
Global Head of Investor Relations
(212) 822-0540
IR@apollo.com

For Media:
Joanna Rose
Global Head of Corporate Communications
(212) 822-0491
Communications@apollo.com


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Source: Apollo Global Management, Inc.

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Francks Kylindustri continues its expansion in Norway through the acquisition of Invent

Segula

After the recently announced acquisition of Therma, Francks continues its Norwegian expansion through the acquisition of Invent AS in Bergen. Invent will together with Therma get a market leading position in Bergen. Invent has a long history and broad competence primarily in cooling and ventilation. The current owners will continue to develop the company in collaboration with Francks. Invent has a turnover of ca. NOK 35m.

 “We are very pleased that Invent – with its high competence and experience – has chosen to join Francks. Invent and Therma Bergen will form a strong team and get a market leading position in Bergen. Invent is a well-established family business with strong local roots that shares our vision and our values. It is very exciting to continue the future journey together when we now further expand our platform in Norway”, says Tomas Berggren, CEO of Francks Kylindustri.

“We are excited to be part of Francks and their expansion in Norway. Through our joint expertise, we will develop our offering in design, installation, and service to provide a stronger customer value proposition. Together with Francks and Therma, we look forward to leverage our joint base of expertise, experience and synergies to accelerate our growth in the expansive Bergen region” says Andreas Berg Peschina, CEO of Invent AS.

Francks Kylindustri is the leading Swedish provider of industrial and commercial refrigeration solutions with 28 offices across Sweden, from Malmö in the south to Luleå in the north.

For further information, please visit www.francksref.com or contact:

Marcus Planting-Bergloo, Managing Partner, Segulah Advisor AB
+46 70 229 11 85, planting@segulah.se

Tomas Berggren, CEO, Francks Kylindustri Sweden AB
+46 70 540 50 42, tomas.berggren@francksref.com

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CONET Group acquires Karlsruhe-based ISB AG

IK Partners

CONET Group acquires Karlsruhe-based ISB AG, strengthening its market position in the public and automotive sectors

Common values and matching areas of focus form an ideal basis for successful cooperation in the CONET group of companies.

Hennef, December 15, 2021 – IT consulting firm CONET and the consultants and software developers of Karlsruhe-based ISB AG will combine their industry expertise, development know-how and consulting experience in the future. With this step, the two companies that have been successful individually in the IT services market for more than 30 years, will benefit from complementary services and customer relationships, particularly in the public and automotive sectors. The acquisition of ISB AG was supported by IK Partners, CONET Group’s majority investor, with whom CONET is consistently pursuing its growth course.

ISB AG, founded in 1981, has around 250 employees and specialises in software development and IT consulting. With the addition of ISB AG, which has its headquarters in Karlsruhe and offices in Berlin, Mainz and Stuttgart, the CONET group of companies is expanding its market position in key segments and extending its portfolio of solutions in the fast-growing consulting and service sectors of process automation, software development and digitalisation in public administration and industry.

Financial terms of the transaction have not been disclosed and the completion of the transaction is subject to legal and regulatory approvals.

“We have found an ideal new partner in ISB AG,” explains Anke Höfer, CEO of the CONET group of companies. With their distinctive expertise, especially in the areas of software development and process consulting, we are complementing our portfolio in a targeted manner and are jointly pursuing the strategy of further expanding our market position as a valued digitalisation partner.” ISB’s management team is guided by the same values as we are and has built a strong and innovative company that always keeps its finger on the pulse of digital development. We look forward to working with them to develop even more powerful solutions for our customers.”

Ralf Schneider, who has been a member of the ISB AG Executive Board since 2005, adds: “Open and cooperative partnership, respect, personal responsibility and, last but not least, transparency and a long-term approach are central cornerstones of our corporate philosophy. CONET Group shares these guiding principles, which are laid down in its corporate constitution CONET LIFE. This is the ideal basis for us to create maximum added value for our customers with our deep understanding of processes, industry knowledge and the highest methodological and technological competence and to offer our employees excellent prospects. We are looking forward to the future together in a strong group of companies!”

IK Partners
Deekeling Arndt/AMO
Natascha Divac
Phone: +49-162-9981108
natascha.divac@deekeling-arndt.com

CONET Technologies Holding GmbH
Simon Vieth, Spokesman
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Oakley agrees sale of TechInsights and follow-on investment

CVC Capital Partners

Oakley Capital Fund IV will acquire a majority stake alongside CVC Growth Funds to benefit from business’ strong future growth potential

Oakley Capital (“Oakley”) has announced that Oakley Capital Private Equity III (“Fund III”) has reached an agreement to sell its stake in TechInsights, an information services platform for the microelectronics sector. The exit will generate a gross return on investment of c.18.8x MM and c.82% IRR to Fund III. As part of the transaction, Oakley Capital Fund IV (“Fund IV”) will acquire a majority stake in TechInsights alongside CVC Growth Funds (“CVC Growth”) to benefit from the strong future growth potential of the business, as well as the significant strategic and sectoral synergies CVC Growth offers.

Fund III first invested in TechInsights in 2017 as a carveout from AXIO Group. During its period of ownership, Oakley has supported management in transforming the business model by shifting its revenue base from one-off projects to higher quality subscription revenues. The integration of three bolt-on acquisitions further strengthened its position as a leader in its field, and today TechInsights provides syndicated content to blue chip companies around the world.

The fresh investment from Fund IV and CVC Growth will support an ambitious, multi-year expansion programme to capitalise on promising growth opportunities that management have identified across TechInsights’ core markets and in new verticals. Management are fully committed to remaining with the business and TechInsights will continue to be led by CEO Gavin Carter.

Oakley Capital Managing Partner Peter Dubens commented: “Gavin and his team have transformed TechInsights into a highly successful subscription business, and we look forward to supporting them on the next stage of the company’s development. We’re also pleased to welcome CVC Growth as co-investors with their strong track record backing high-growth, technology and information services businesses.”

TechInsights CEO Gavin Carter commented: “Several years ago, on the foundation of our world-leading reverse engineering, we began to develop the go-to information platform for those interested in microelectronics. We have come a long way, yet there is much opportunity ahead in this innovation-fuelled sector. Continuing our strong partnership with Oakley and now with the support of CVC Growth, we initiate a new investment programme and embark on an ambitious growth plan, working with current and prospective customers to further develop our capability and platform.”

Sebastian Künne Managing Director at CVC Growth commented: “CVC has a proven track record of teaming up with like-minded investors to take businesses to the next level. We look forward to partnering with Oakley Capital and working closely with Gavin and his team to continue building a leading information services platform for the microelectronics industry.”

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