Category Archives: News

Tripleseat Announces Strategic Acquisition of Attendease for Unparalleled Event Management Solutions

Vista Equity

CONCORD, Mass., Aug. 8, 2023 /PRNewswire/ —  Tripleseat, the leading innovator in cloud-based event management software for the hospitality industry, proudly announces today the strategic acquisition of Attendease, a world-class meeting and event software for enterprise and corporate event planners.

The acquisition is a natural fit. It combines two separate ecosystems, social and corporate event planners and event managers at restaurants and hotels. The sales and event management platform of Tripleseat and the Attendease event planner application come together for a frictionless planning process, further entrenching Tripleseat as the powerhouse in end-to-end event management solutions. The combined company will operate under the Tripleseat brand and will be managed by Jonathan Morse, Tripleseat co-founder and CEO.

“With this acquisition, we will expand our offerings with specialized and flexible event planning and management tools – for social and corporate event planners. Tripleseat will now be the one-stop shop for people to locate the perfect venue and manage and market their event,” Morse said in a statement. “Attendease provides functionality that empowers planners with dynamic features such as event registration, ticketing, VIP and speaker management, website building, and data-driven reporting  that will integrate with Tripleseat’s sales and event management platform.”

The Tripleseat acquisition of Attendease is a game-changer for restaurants and hotels. It provides a one-of-a-kind integration to event planners looking to book an event at their venue. In addition, event planners will now have a seamless and easy experience finding, booking, and planning their weddings, corporate events, birthday parties, or tradeshows.

Tripleseat will always continue providing award-winning customer support for existing and new customers. As the event industry continues to evolve, Tripleseat remains committed to delivering innovative solutions to empower event professionals with the tools to thrive.

About Tripleseat
Tripleseat is a sales and event management platform used by more than 15,000 venues globally, enabling event managers to streamline the planning process and increase sales. To date, the Tripleseat platform has helped venues book over 10 million events and capture $15 billion in event leads. To learn more about Tripleseat or to schedule a demo, please visit www.tripleseat.com.

Media Contact: 
Dana Yerid
Vice President of Marketing
978-614-0490
363515@email4pr.com

SOURCE Tripleseat

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ToxStrategies Acquires Modality Solutions

Renovus

August 8, 2023 – PHILADELPHIA – ToxStrategies, a best-in-class, multidisciplinary scientific consulting firm, today announced the acquisition of Modality Solutions (“Modality”). Founded in 2011 by Gary Hutchinson and Dan Littlefield, Modality optimizes the biopharmaceutical cold chain for novel, fragile, and controlled-temperature medical therapies and provides expert counsel on the complex filing requirements for these advanced drug products. In addition, Modality specializes in shipping validation testing using next generation, multi-modal simulation technologies. Pharmaceutical and biotech clients increasingly depend upon Modality to assist in the development of cold chain operations, as therapies have become more sensitive to changes in temperature. ToxStrategies is a portfolio company of Renovus Capital Partners. Terms of the transaction were not disclosed.

ToxStrategies partnered with Renovus Capital Partners in November 2022 with the goal of expanding its existing client base and developing new end markets. The acquisition of Modality by ToxStrategies brings together two best-in-class consulting firms within the life sciences industry, creating greater diversification across the customer base. Mssrs. Hutchison and Littlefield will continue to lead Modality as a Division of ToxStrategies.

“The partnership between ToxStrategies and Modality is an ideal strategic fit,” said Laurie Couture Haws, President of ToxStrategies. “Our centralized platform will allow us to cross leverage expertise to better serve our clients across life sciences sectors. We are pleased to welcome Gary, Dan, and the Modality team to ToxStrategies.”

Mr. Hutchison added, “We are thrilled to become part of the ToxStrategies platform. The combination of our capabilities will provide continued growth opportunities by allow us to engage with a broader client base, as well as with a with additional segments of the drug development life cycle than before.”

“ToxStrategies has benefitted from being one of several Renovus portfolio companies in the life sciences industry, giving it access to a vast network of relationships, capabilities, and industry expertise,” said Jesse Serventi, a founding partner at Renovus Capital Partners. “We are now excited to support ToxStrategies’ acquisition of Modality, which brings deep expertise in cold chain development and the regulatory processes central to the life sciences industry. We are confident that this acquisition will further enhance ToxStrategies’ capabilities as a leading life sciences consultant and create numerous growth opportunities for the company.”

About ToxStrategies

ToxStrategies is a multidisciplinary scientific consulting firm specializing in toxicology, epidemiology, exposure sciences, industrial hygiene and safety, and regulatory compliance. They are a cutting-edge firm that strives to develop innovative solutions to address the complex scientific, technical, and regulatory challenges confronting their clients. ToxStrategies has a reputation for applying sound science and novel approaches tailored to meet the specific needs of their clients, whether a rapid response or a comprehensive analysis is required. The ToxStrategies’ team of toxicologists, epidemiologists, industrial hygienists, engineers, exposure scientists, modelers, biostatisticians, information specialists, and regulatory specialists are recognized as leaders in their respective disciplines and bring a high level of technical expertise to every project. ToxStrategies has extensive experience assessing potential health risks associated with exposures to a wide variety of consumer products, food ingredients and additives, pharmaceuticals, medical devices, pesticides, industrial chemicals and environmental contaminants. ToxStrategies is headquartered in Texas and has offices and remote consultants throughout the US, Canada and England. For more information, please visit www.toxstrategies.com and on LinkedIn.

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Carlyle and Quest Global Enter into a Strategic Partnership

Carlyle

Singapore, August 8, 2023 – Global investment firm Carlyle (NASDAQ: CG) and Quest Global, one of the world’s leading engineering services firms, today announced they have reached a definitive partnership agreement whereby Carlyle will be acquiring a significant minority stake in the company. Equity for this transaction will come from funds managed and advised by entities affiliated with Carlyle Asia Partners.

As part of this transaction, current investors Bain Capital and Advent International will exit; Quest Global will repurchase its company shares; and Ajit Prabhu, Chairman and CEO of Quest Global, will acquire an additional stake in the company. The partnership approach taken for this transaction demonstrates Quest Global’s commitment to the long-term success of its business strategy and its employees.

Established over 25 years ago and headquartered in Singapore, Quest Global is a leading global player in engineering, research and development (“ER&D”) services for the design, product development and operations of complex engineering systems. It currently has a multi-disciplinary team of over 17,500 engineers, across 67 delivery centers and offices, in 17 countries globally, that is dedicated to helping solve its clients’ engineering challenges better and faster.

Amit Jain, Managing Director and Head of Carlyle India Advisors, said, “We have known Ajit for two decades and we believe he has demonstrated visionary leadership over these years. Carlyle was the first early-stage private equity investor in Quest Global and we are proud to partner again. We believe the company’s undivided client centricity, drive for engineering excellence, differentiated global delivery model and the entrepreneurial energy of the management team have enabled it to scale successfully across a diverse set of industry verticals. Looking ahead, our view is that Quest Global is well-poised to benefit from the growing focus on product innovation, digital engineering, embedded systems, increased outsourcing and disruptive technology advancements across industries. We look forward to working closely with Quest Global’s management team while leveraging Carlyle’s deep sector expertise and global network to help the company expand its global leadership in the ER&D space.”

“At Quest Global, we believe engineering has the unique opportunity to solve the problems of today that stand in the way of tomorrow – to create a brighter future. It was a great value-added partnership with Carlyle the first time around, and I look forward to working with Carlyle again, to propel us in the journey ahead. Together, I am confident we will deliver on our mutual commitment to provide cutting edge engineering solutions to our clients around the world, while preserving our entrepreneurial culture,” said Ajit Prabhu, Chairman and CEO of Quest Global.

“We are thankful for the partnership of Bain and Advent for their instrumental role in advancing the company’s purpose and growth trajectory. Their strategic insights and unwavering support have been invaluable,” added Mr. Prabhu.

The transaction remains subject to satisfaction of certain conditions precedent to closing, including customary regulatory approvals.

Barclays, J.P. Morgan, BNP Paribas and Latham & Watkins served as advisors to Quest Global on the transaction; and Deutsche Bank, Clifford Chance, KPMG and Trilegal served as advisors to Carlyle. Barclays, BNP Paribas, Citibank, Deutsche Bank, HSBC, ING, J.P. Morgan, Nomura, Standard Chartered Bank, Allen & Overy and Linklaters helped arrange financing for the transaction.

Carlyle’s buyout funds, including Carlyle Asia Partners, have well-established experience investing in the technology and business services sector, and have invested over US$35 billion of equity in over 280 deals globally as of June 30, 2023, with approximately US$5.6 billion of this in Asia.

 

***

About Quest Global

Founded in 1997, Quest Global is one of the world’s leading engineering research and development (ER&D) services companies. Quest Global believes engineering has the unique opportunity to solve the problems of today that stand in the way of tomorrow. For more than 25 years, the Company has strived to be the most trusted partner for the world’s hardest engineering problems. As a global organization headquartered in Singapore, team at Quest Global live and work in 17 countries, with 67 global delivery centers and offices, driven by 17,500+ extraordinary employees who make the impossible possible every day. Quest Global delivers world-class end-to-end engineering solutions by leveraging deep industry knowledge and digital expertise. By bringing together technologies and industries, alongside the contributions of diverse individuals and their areas of expertise, Quest Global is able to solve problems better, faster. This multi-dimensional approach enables the team to solve the most critical and large-scale challenges across the aerospace & defense, automotive, energy, hi-tech, healthcare & medical devices, rail, and semiconductor industries.

 

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $385 billion of assets under management as of June 30, 2023, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

 

Media Contacts

Quest Global

Anubhuti Agarwal

Tel: +91 990 331 6945

Email: Anubhuti.Agarwal@quest-global.com

Quest Global LinkedIn: https://www.linkedin.com/company/quest-global/mycompany/

 

Carlyle

Lonna Leong

Tel: +852 9023 1157

E-mail: lonna.leong@carlyle.com

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Oakley Capital invests in Flemming Dental, Excent and Artinorway Group

Oakley

Oakley Capital (“Oakley”), a leading pan-European private equity investor, is pleased to announce that Oakley Capital Fund V (“Fund V”) has agreed to acquire Flemming Dental, Excent, and Artinorway Group (combined as the “Company”) in a carve-out from European Dental Group (“EDG”), a leading pan-European oral care and services provider, to form one of the leading dental laboratories groups in Europe. 

The Company provides a comprehensive range of services, including the design and manufacture of dental prostheses (crowns, bridges and dentures) and orthodontics (braces, retainers and aligners), utilising technology including CAD software, computer-aided milling and 3D printing, as well as local craftmanship. The Company currently services c.5,000 clinics across nearly 70 dental laboratories throughout Europe.

 

The Company currently services c.5,000 clinics across nearly 70 dental laboratories throughout Europe.

Liberty 2

Oakley will work closely with the management to establish Flemming Dental, Excent and Artinorway Group as an independent business and to become a leader in the global dental lab market. Through this transaction, Oakley is leveraging its network of entrepreneurs, partnering with Hidde Hoeve, the co-founder of Excent Tandtechniek, a group of dental laboratories acquired by EDG in 2018. The collaboration between Oakley and the Company’s experienced management team will see the execution of an ambitious growth strategy, driven by organic growth, international expansion and targeted M&A.

Fund V’s investment

Through Fund V’s investment, the Company will benefit from Oakley’s extensive expertise in digitalisation, helping the Company to capitalise on technological innovation in the dental lab industry and the rapid digital transformation of the market. Fund V’s investment will enable Flemming Dental, Excent and Artinorway Group to accelerate innovation and the adoption of cutting-edge technology, providing solutions with unparalleled precision for dental clinics and their patients across Europe and beyond. The European dental lab market is large and growing with strong customer stickiness, valued at approximately €10 billion today, and is also highly fragmented offering compelling opportunities for value creation through buy-and-build, which is an area Oakley has extensive expertise in.

In Oakley we have the ideal partner to support Flemming Dental, Excent and Artinorway Group as they begin the next chapter as an independent business. We are well positioned to capitalise on the accelerating digitalisation of dental laboratories. Together with the current management we will maintain focus on our clients, local craftsmanship and innovation. Oakley’s expertise will be invaluable as we execute our growth strategy to become the leader in the global dental lab market.

Hidde Hoeve

Excent Co-founder and CEO of the new combined entity

Oakley was advised by Paul Hastings, PwC, LEK and KPMG in connection with this transaction.

Quote Peter Dubens

This is a key inflection point for the dental laboratory industry, with rapid digitalisation poised to revolutionise dental design and manufacturing, and patient care. We look forward to working closely with Hidde Hoeve and the management team as we establish Flemming Dental, Excent and Artinorway Group as an independent company and leverage transformational new technologies to unlock its full potential for future growth.

Peter Dubens

Managing Partner and co-Founder — Oakley Capital

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Thoma Bravo and Madison Dearborn Partners Sell Syntellis Performance Solutions to Roper Technologies

Thomas Bravo

CHICAGO & SAN FRANCISCO—Madison Dearborn Partners (“MDP”) and Thoma Bravo today announced that they have completed the sale of Syntellis Performance Solutions (“Syntellis”), a leading provider of enterprise performance management (EPM) software, data and intelligence solutions, to Roper Technologies, Inc. (“Roper”) (Nasdaq: ROP) in an all-cash transaction for an enterprise value of $1.4 billion. Syntellis will be combined with Roper’s Strata Decision Technology business.

Syntellis became an independent company with the investment support of Thoma Bravo and MDP when it was separated from Kaufman Hall in August 2020. Over the past three years, MDP and Thoma Bravo have worked closely with Syntellis and its management team to enhance and innovate the company’s integrated EPM solutions to better serve Syntellis’s growing global client base. During this period, Syntellis made meaningful investments in product and platform enhancements, including to its Axiom365 SaaS offering, and enhanced its planning and performance product offering by acquiring Stratasan, an industry leader in advanced healthcare market intelligence and data analytics.

“Thoma Bravo and MDP’s support and collaboration have propelled our growth, helped advance our product roadmap and enabled us to better serve our valued clients,” said Flint Brenton, Chief Executive Officer of Syntellis. “Today’s announcement is a testament to the great work from the entire Syntellis team and marks an exciting new chapter for the company. As part of Roper, we will further our mission to empower our clients to optimize performance through our industry-specific, tailored solutions.”

“We are immensely proud of our partnership with the Syntellis and Thoma Bravo teams, the product and platform enhancements we have helped Syntellis deliver, and the success we have achieved together,” said MDP Managing Director and Co-Head of the Health Care team Jason Shideler and Managing Director Will Ritchie. “Syntellis has grown from a captive software division of a consulting firm into one of the leading EPM providers serving the health care, higher education and finance industries. We believe Syntellis will continue to thrive in combination with Strata at Roper.”

“It has been a pleasure working with MDP, Flint and the entire Syntellis team to create a truly best-in-class EPM leader,” said A.J. Rohde, a Senior Partner at Thoma Bravo. “Together, we drove growth and innovation by building on the company’s strong product offering and its commitment to providing customers with the operational, financial and strategic data they need to navigate their dynamic market environments and improve their business outcomes. We look forward to watching the company’s continued success as part of Roper.”

William Blair served as financial advisor and Kirkland & Ellis LLP served as legal advisor to MDP and Thoma Bravo.

About Syntellis Performance Solutions

Syntellis Performance Solutions provides innovative enterprise performance management software, data and analytics solutions for healthcare, higher education, and financial institutions. Syntellis’ solutions include Axiom, Connected Analytics, and Stratasan software. These solutions help finance professionals elevate performance by acquiring insights, accelerating decisions, and advancing their business plans. With over 2,800 organizations and 450,000 users relying on our solutions, we have proven expertise in helping organizations transform their vision into reality. For more information, please visit www.syntellis.com

About Madison Dearborn Partners

Madison Dearborn Partners, LLC (“MDP”) is a leading private equity investment firm based in Chicago. Since MDP’s formation in 1992, the firm has raised aggregate capital of over $28 billion and has completed over 150 platform investments. MDP invests across five dedicated industry verticals, including basic industries; business and government software and services; financial and transaction services; health care; and telecom, media and technology services. For more information, please visit www.mdcp.com.

About Thoma Bravo

Thoma Bravo is one of the largest software investors in the world, with more than US$127 billion in assets under management as of March 31, 2023. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo’s deep sector expertise and strategic and operational capabilities, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20 years, the firm has acquired or invested in more than 440 companies representing over US$250 billion in enterprise value*. The firm has offices in Chicago, London, Miami, New York and San Francisco.

*including control and non-control investments

About Roper Technologies

Roper Technologies is a constituent of the S&P 500 and Fortune 1000. Roper has a proven, long-term track record of compounding cash flow and shareholder value. The Company operates market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets. Roper utilizes a disciplined, analytical, and process-driven approach to redeploy its excess capital toward high-quality acquisitions. Additional information about Roper is available on the Company’s website at www.ropertech.com.

About Strata Decision Technology

Strata Decision Technology provides an innovative cloud-based financial planning, analytics and performance platform that is used by healthcare providers for financial planning, decision support and continuous improvement. Founded in 1996, the Company’s client base includes over 2,000 hospitals representing over 450 healthcare delivery systems. The Company’s StrataJazz® application is a single integrated software-as-a-service platform that includes modules for financial planning, decision support and performance management. Strata’s headquarters are in Chicago, IL. For more information, please visit www.stratadecision.com/strata-and-syntellis.

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Bridgepoint Credit successfully prices its first European CLO of 2023, as it continues to grow its €12bn credit platform

Bridgepoint

Bridgepoint is pleased to announce that it has priced Bridgepoint CLO V, a new issue Collateralised Loan Obligation (CLO) vehicle totalling €400m. Morgan Stanley served as lead arranger. Bridgepoint CLO V is the first CLO priced by Bridgepoint Credit in 2023, following the pricing of Bridgepoint CLO IV in December 2022. With a four-and-a-half-year reinvestment period, the latest CLO was supported by over 20 of Bridgepoint’s global investor base.

John Murphy, Partner and Bridgepoint’s Head of Syndicated Debt said:

“We are excited to have priced our first CLO of the year and the fifth under our CLO programme, as we seek to take advantage of attractive market conditions for credit investing.  We are grateful for the support shown by our existing investor base, as well as new investors to the platform, as we continue our disciplined approach of constructing high quality portfolios coupled with seeking attractive opportunistic investments as those situations arise.”

With more than €12bn of assets under management in corporate credit across the risk/reward spectrum, Bridgepoint credit is one of Europe’s most experienced credit managers, and focuses on three complementary investment strategies: Direct Lending, Credit Opportunities and Syndicated Debt.

Bridgepoint is one of the world’s leading quoted private asset growth investors, specialising in private equity and private debt.

With over €38bn of assets under management and a strong local presence in Europe, the US and China, we combine global scale with local market insight and sector expertise, consistently delivering strong returns through cycles.

We have a diversified approach to investing across four verticals: Advanced Industrials, Business & Financial Services, Consumer and Healthcare – with Technology as a horizontal connected to everything everywhere.

Bridgepoint Advisers Limited, a subsidiary of Bridgepoint Group plc, is authorised and regulated by the Financial Conduct Authority.

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Bridgepoint takes a stake in Samy Alliance alongside Aurica Capital

Bridgepoint
  • The deal will accelerate the company’s growth and internationalisation to become a global reference for integrated marketing solutions based on data and creativity. Aurica will retain a 48% stake in the company.
  • The founders and the international management team will continue to lead this new growth phase, with the objective of attaining over €100 million in revenues over the next two years.

 

Samy Alliance, an integrated, social-first technology- and data-enabled digital marketing and communications company, announces that Bridgepoint, has become a shareholder. Aurica Capital remains the company’s key partner with a 48% stake following this deal. The transaction will help the company accelerate achieving the objectives defined in its strategic plan and consolidate its position as the reference player in the digital marketing sector worldwide.

Listed by the Financial Times as one of the 1000 fastest growing companies in Europe for the fourth consecutive year, Samy Alliance, headquartered in Madrid, operates in more than 50 markets with offices in 14 countries and more than 400 employees. The company develops complete digital strategies for brands: research and market intelligence, data and analytics, social media, digital content, creative, influencer marketing, communications, and public relations. It has recently been recognised as a great place to work by being awarded the Happy Index at Work 2023 certification.

Following a 25% increase in turnover in 2022, Samy Alliance reported €50 million in revenues last year through a combination of organic and inorganic growth, geographical expansion into new markets through acquisitions and integration of new services for its clients. The company’s growth plans will be accelerated, both organically and through acquisitions, by Bridgepoint joining Samy Alliance as a minority shareholder alongside Aurica Capital, technology venture builder Jaguar Path Ventures, Inveready Technology Investment Group and Sabadell Venture Capital.

Powering an inorganic growth plan

Since being founded in 2012, Samy Alliance has experienced sustained growth year-on-year, consolidating its position as a leading global player in its sector. The company is currently present in Europe, the United Kingdom and the Americas. The United States is its second largest market in terms of turnover. In fact, the Anglo-Saxon market already accounts for 38% of the company’s revenue. The excellent results achieved by Samy Alliance in recent years reflect the company’s resilience, with a 43% year-on-year increase in EBITDA in its last financial year.

The project, founded over 10 years ago by Patricia Ratia, Marta Nicolás and Juan Sanchez Herrera, will continue to be spearheaded by its international management team in this new phase.

Patricia Ratia, CEO of Samy Alliance in Europe, said:

“This transaction gives us the opportunity to accelerate our ambitious international growth plan, with a focus on the United States and Northern Europe. It also allows us to continue to innovate for our customers and consolidate our position as an industry leader. We remain on track to achieve our goal of exceeding €100 million in revenue within the next two years.”

Hector Perez, Partner at Bridgepoint, said:

“Bridgepoint has extensive experience in the global digital marketing services sector and we truly believe in Samy’s long-term potential. We are delighted to be working with Patricia, Marta, Juan and their exceptional team to support the next phase of growth. Samy is a global, integrated digital marketing services company with a leading position and expertise in the social media ecosystem, ideally positioned to capture the growing demand from blue-chip customers for these marketing services, with a social-first approach.”

Martín Vargas, Investment Director at Aurica Capital, said:

“We are very pleased that Bridgepoint has become a shareholder, as it will bring great value to further drive the successful growth of a company that has a truly differentiated positioning and a highly valued technological edge among the major players in the sector”.

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Wireless Logic acquires Webbing

Montagu

Wireless Logic, the leading global IoT connectivity provider has acquired Webbing, a global Mobile Virtual Network Operator (MVNO) providing connectivity for Enterprise Mobility and IoT applications.

Founded in 2010, Webbing provides a leading-edge connectivity service for global customers across sectors including Enterprise Mobility, Automotive and Logistics. It offers a global carrier network that delivers best in class coverage, policy control and enforcement, including compliance with any permanent roaming restrictions, as well as security and other features, all through a single global SIM.

Webbing are market leaders in eSIM technology and have pioneered the shift towards the new GSMA eSIM standards for IoT (SGP.32). Its WebbingCTRL solution leverages SM-DP+ provisioning and enables remote, automatic profile swaps without user intervention. Its fallback module is fully automatic with no MNO actions required ensuring continuous connectivity– a common challenge facing IoT deployments. It also provides centralised management of eSIMs and profiles, simplifying IoT connectivity, reducing costs, and improving time to market. This allows enterprises to leverage connected devices while maintaining full control of their connectivity deployments.

“Webbing exhibited remarkable foresight by recognising the constraints of existing eSIM standards for IoT devices and anticipating enterprise demand for efficient eSIM provisioning solutions,” said Oliver Tucker, CEO of Wireless Logic. “As well as complementing the market segments that Wireless Logic addresses, this acquisition will expand our technology capabilities and offering, particularly as the new GSMA IoT eSIM standard gains prominence. Furthermore, Webbing’s local presence and partnerships in regions including the US and Asia, will further enhance our ability to deliver a future proof, flexible and fully redundant global connectivity through a single SIM.”

As well as complementing the market segments that Wireless Logic addresses, this acquisition will expand our technology capabilities and offering, particularly as the new GSMA IoT eSIM standard gains prominence.

Oliver Tucker, CEO, Wireless Logic

“We are excited for the path ahead,” said Noam Lando, Co-Founder and CEO at Webbing. “Since our foundation, we have been committed to meeting the needs of global IoT by developing progressive SIM technology, powerful management platforms and a robust network. We believe that device owners deserve tailor-made, rock-solid, future-ready connectivity within their control. With the support of Wireless Logic, we are excited to build on this vision, delivering enhanced benefits to our customers and teams worldwide.”

We are excited for the path ahead. With the support of Wireless Logic, we are excited to build on our vision, delivering enhanced benefits to our customers and teams worldwide.

Noam Lando, Co-Founder and CEO, Webbing

This agreement follows Wireless Logic’s recent acquisitions of IoThink Solutions, Mobius Networks, Jola and Blue Wireless, continuing its strategy of global expansion, service offering enhancement and new routes to market.

Wireless Logic and Montagu were advised by Rothschild & Co. on this transaction. Webbing was advised by Bank of America.

 

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CVC Credit supports NovaTaste’s acquisition and growth strategy

CVC Capital Partners

CVC Credit is pleased to announce that it recently provided senior facilities and a dedicated acquisition facility, to fund PAI Partners’ acquisition of NovaTaste (formerly Savory Solutions Group) , a leading international provider of taste and functional solutions for the food sector, from NYSE-listed International Flavours and Fragrances.

NovaTaste provides a range of savoury ingredients and blends, most notably under the Wiberg and Piasa brands, which are used by food manufacturers, butchers and food service players to improve texture and taste, as well as extend the shelf life of their products. The business operates 17 manufacturing facilities and nine innovation sites, with over 1,800 employees. It serves more than 11,000 clients across Europe, North America and Asia.

Quotes

Our goal at CVC Credit is to support strong and stable businesses backed by experienced financial sponsors and we look forward to supporting NovaTaste and PAI.

John Empson Managing Partner, Co-Head of Private Credit at CVC

Simone Zacchi, Managing Director at CVC Credit, commented: “NovaTaste is a market leader with a clear customer-centric value proposition, and the number one player in the DACH region (Germany, Austria and Switzerland), as well as being top three in other key markets. We are thrilled to be supporting NovaTaste to strengthen their leadership position in the food sector.”

John Empson, Managing Partner and Co-Head of Private Credit at CVC Credit added: “We are delighted to be partnering with PAI Partners once more, having previously backed their investments in Theramex and Scrigno. Our goal at CVC Credit is to support strong and stable businesses backed by experienced financial sponsors and we look forward to supporting NovaTaste and PAI as they work together through this next phase of growth.”

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KKR to Acquire Simon & Schuster from Paramount Global for $1.62 Billion

KKR

NEW YORK–(BUSINESS WIRE)– Paramount Global (NASDAQ: PARA, PARAA) and KKR today announced the signing of a definitive agreement pursuant to which KKR will acquire Simon & Schuster for $1.62 billion in an all-cash transaction.

“We are pleased to have reached an agreement on a transaction that delivers excellent value to Paramount shareholders while also positioning Simon & Schuster for its next phase of growth with KKR,” said Bob Bakish, President and CEO of Paramount Global. “The proceeds will give Paramount additional financial flexibility and greater ability to create long-term value for shareholders, while also delevering our balance sheet.”

After the closing of the transaction, Simon & Schuster will become a standalone private company and will continue to be led by Jonathan Karp, President and CEO and Dennis Eulau, COO and CFO of Simon & Schuster.

“All of the executives at Simon & Schuster who met with KKR came away from those conversations impressed with the depth of KKR’s interest in our business and their commitment to helping us grow, thrive and become an even stronger company,” said Jonathan Karp. “With KKR’s support, we look forward to collaborating on new strategies that will enhance our ability to provide readers a great array of books and to give authors the best possible publication they can receive.”

Simon & Schuster has an outstanding reputation in book publishing, in addition to sustained, strong operating performance and double-digit revenue growth in the first quarter of 2023. KKR expects to advance the company’s position as one of the world’s best-known publishers and distributors with more than 36,000 titles across adult, children, audio and international categories.

In addition to investing in all areas necessary to establish Simon & Schuster as a standalone entity, KKR intends to support numerous growth initiatives, including extending Simon & Schuster’s strong domestic publishing program across various genres and categories, expanding its distribution relationships and accelerating growth in international markets.

KKR will also support Simon & Schuster in creating a broad-based equity ownership program to provide all of the company’s more than 1,600 employees the opportunity to participate in the benefits of ownership after the transaction closes. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-management employees across more than 30 companies.

“Simon & Schuster’s nearly 100-year history is a testament to the enduring value of creative expression through the written and spoken word. We are thrilled to invest behind Jon and the immensely talented organization at Simon & Schuster to support their mission of delivering marquee content to readers around the world,” said Ted Oberwager, a Partner who leads the gaming, entertainment, media and sports verticals within KKR’s Americas Private Equity business.

Richard Sarnoff, Chairman of Media at KKR, added, “We see a compelling opportunity to help Simon & Schuster become an even stronger partner to literary talent by investing in the expansion of the company’s capabilities and distribution networks across mediums and markets while maintaining its 99 year legacy of editorial independence. We also believe the opportunity to create an ownership culture within one of the world’s top publishers has enormous potential to create value for all of Simon & Schuster’s stakeholders.”

Completion of the transaction is subject to customary closing conditions, including regulatory approvals.

KKR is making its investment in Simon & Schuster primarily through its North America Fund XIII and has secured fully committed financing for the transaction. The investment builds on KKR’s deep experience investing in content-oriented media businesses, including current and prior investments in Epic Games, Mediawan, Leonine Studios, Artlist, Skydance Media, BMG and RBmedia, among others.

LionTree Advisors is acting as financial advisor and Shearman & Sterling LLP is acting as legal advisor to Paramount. Simpson Thacher & Bartlett LLP is acting as legal advisor to KKR.

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 and on Twitter @KKR_Co.

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

This communication contains both historical and forward-looking statements, including statements related to our future results and performance. All statements that are not statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements reflect our current expectations concerning future results and events; generally can be identified by the use of statements that include phrases such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “foresee,” “likely,” “will,” “may,” “could,” “estimate” or other similar words or phrases; and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause our actual results, performance or achievements to be different from any future results, performance or achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others: risks related to our streaming business; the adverse impact on our advertising revenues as a result of changes in consumer viewership, advertising market conditions and deficiencies in audience measurement; risks related to operating in highly competitive industries, including cost increases; our ability to maintain attractive brands and to offer popular content; changes in consumer behavior, as well as evolving technologies and distribution models; the potential for loss of carriage or other reduction in or the impact of negotiations for the distribution of our content; damage to our reputation or brands; risks related to our ongoing investments in new businesses, products, services, technologies and other strategic activities; losses due to asset impairment charges for goodwill, intangible assets, FCC licenses and programming; risks related to environmental, social and governance (ESG) matters; evolving business continuity, cybersecurity, privacy and data protection and similar risks; content infringement; domestic and global political, economic and regulatory factors affecting our businesses generally; the impact of COVID-19 and other pandemics and measures taken in response thereto; liabilities related to discontinued operations and former businesses; the loss of existing or inability to hire new key employees or secure creative talent; strikes and other union activity, including the ongoing Writers Guild of America (WGA) and Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) strikes; volatility in the price of our common stock; potential conflicts of interest arising from our ownership structure with a controlling stockholder; and other factors described in our news releases and filings with the Securities and Exchange Commission, including but not limited to our most recent Annual Report on Form 10-K and reports on Form 10-Q and Form 8-K. There may be additional risks, uncertainties and factors that we do not currently view as material or that are not necessarily known. The forward-looking statements included in this communication are made only as of the date of this communication, and we do not undertake any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

For Simon & Schuster
Adam Rothberg
Senior Vice President, Corporate Communications, Simon & Schuster
(917) 270-1717
adam.rothberg@simonandschuster.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:
Kristin Southey, Executive Vice President, Investor Relations
(310) 593-1630
kristin.southey@paramount.com

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

For KKR
Miles Radcliffe-Trenner and Emily Cummings
(212) 750-8300
media@kkr.com

Source: KKR

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