Category Archives: News

Namirial and Signaturit to join forces to form a leading European Digital Transaction Management software platform

BainCapital

  • Combination will create a Pan-European Digital Transaction Management software platform with leading positions across Italy, Spain, France, and Germany.

Senigallia, Paris, and Barcelona – July 1, 2025 – Namirial and Signaturit, both leading European providers of Digital Transaction Management (“DTM”) software solutions backed by Bain Capital and PSG Equity (“PSG”) respectively, have today entered exclusive negotiations for Signaturit to join the Namirial Group. Through this transaction, which remains subject to customary regulatory approvals and employee representative consultation, PSG will exit its investment through its PSG Europe I fund and, alongside Signaturit management, will reinvest in the combined platform as a significant minority partner alongside Namirial’s shareholders Bain Capital, Ambienta and Namirial’s founder and management.

The combination of Namirial and Signaturit will create a leading Pan-European DTM provider with a leading position across Italy, Spain, France, and Germany with  ~1,400 employees and serving ~240,000 customers worldwide. The newly combined group would stand to benefit from significant structural tailwinds from the continuous digitization of business operations and increasingly robust European compliance and security standards and requirements. Finally, the highly adjacent product offerings of both companies will enable the combined group to further broaden the range of solutions offered to the combined customer base.

Founded in 2013 in Spain, and backed by PSG since 2020, Signaturit is one of the leading providers of cloud-based DTM services in Southern Europe, offering solutions across digital identity management, Digital Signature, KYC & fraud prevention, and eID wallet. Its platform provides end-to-end SaaS-based DTM solutions to customers in more than 40 countries. Since its initial investment in 2020, PSG has supported Signaturit’s continued growth and international expansion, both organically and inorganically. Over the past five years, Signaturit has grown its Annual Recurring Revenue by over >10x, developing from a single product provider in Spain to a leading DTM and trust services software provider across Southern Europe.

Namirial, which Bain Capital announced it was acquiring from Ambienta in March 2025 (closing expected in July 2025), is a leading provider of digital transaction management software solutions. Founded in Italy in 2000, Namirial is renowned and trusted by customers for its comprehensive suite of digital solutions that include e-signature workflows, onboarding and digital identity orchestration, digital trust technologies, and qualified electronic archiving for Enterprises, SMEs and Professionals. The company has successfully expanded its product offerings and geographic presence through both organic growth and strategic acquisitions, with a strong core presence in Italy and growing international reach across Europe and presence across 85 countries worldwide.

Max Pellegrini, CEO of the Namirial Group, said: “Businesses are operating in an increasingly digital environment, where stringent security and compliance standards are the norm. Digital Transaction Management software solutions have become essential for meeting these requirements. As demand continues to grow for secure, seamless, and cross-border digital processes, our combined expertise, advanced technology, and broad customer reach will allow us to support international organizations operating across multiple countries. We are extremely pleased to welcome Pierre and the whole Signaturit team to Namirial and look forward to partnering with them and our shareholders to drive growth in the next years.”

Pierre Feligioni, CEO of Signaturit, added: “Together, we have a significant opportunity to drive innovation, expand into key international geographies, and deliver even greater value to our customers. We’re confident that our combined strengths will shape the future of Digital Transaction Management across Europe and beyond. I am pleased to join the ambitious project of the Group and partner with Max and the whole team to develop the business into the leading DTM platform in the next years.”

Enrico Giacomelli, Founder of Namirial, said: “We are proud that Namirial and Signaturit are joining forces to create a leading DTM software platform in Europe. This transaction represents an important step in the international development of Namirial and it would not be possible without the incredible commitment and motivation of the Namirial and Signaturit teams. We are excited about what the future holds for us. As I always like to say: #TheBestIsYetToCome.”
Dany Rammal, Managing Director and Head of Europe at PSG Equity, said: “Over the past five years, we’ve been proud to partner with Signaturit’s talented management team on its impressive growth journey, including scaling the business to become a European leader in the space. The combination of Signaturit and Namirial represents a transformative step forward. We are excited to continue supporting the combined business alongside Bain Capital, Ambienta and Namirial’s founder and management as it enters its next chapter of growth.”

Giovanni Camera, a Partner at Bain Capital, added: “This strategic combination between Namirial and Signaturit builds on our commitment to invest in innovative solutions that drive digital transformation across Europe. Namirial has consistently demonstrated its capacity to grow and innovate within the Digital Transaction Management software sector, both organically and via strategic transactions. By joining forces with Signaturit, we are poised to create a Pan-European leader that is well-equipped to capture emerging opportunities in this growthful sector. We are excited to partner with the combined team to accelerate their trajectory and solidify their position as a European leader in DTM.”

Giancarlo Beraudo, a Partner at Ambienta SGR, added: “This milestone marks another significant step in Namirial’s expansion. We are proud to continue backing a company that is shaping the future of Digital Transaction Management and strengthening its position in this dynamic market.”

About Namirial
Namirial supports customers in their digital transformation journey by providing software solutions for trusted digital transaction management. Namirial digital trust products encompass solutions for customer onboarding, agreement automation, e-signature workflow orchestration, digital identification, certified communications, long-term qualified archiving, and electronic invoicing. Founded in 2000 in Italy, Namirial is operating today in over 85 countries, employing approximately 1000 people. Together with its international network of over 1,000 strategic partners, Namirial serves thousands of customers worldwide, processing several million transactions every day. Namirial is accredited as a qualified trust service provider under EU Regulation 910/2014 eIDAS and is actively engaging in the evolution of the EU Digital Identity Framework and new trust services as defined in EU Regulation 2024/1183. To learn more, visit www.namirial.com and follow @Namirial on LinkedIn.

About Signaturit
Signaturit is a Qualified Trust Service Provider that offers a broad range of cloud-based solutions in the field of Digital Transaction Management including digital identity management, Digital Signature, KYC & fraud prevention, and eID wallet to digitize transactions between companies and individuals, securely and with legal compliance. Founded in 2013, the company serves over 90,000 customers in more than 40 countries. Signaturit’s Trust Services seek to optimize secure, compliant and user-friendly digital transactions and to reduce paper consumption, thereby improving and streamlining business processes for their customers. For more information on Signaturit, please visit www.signaturit.com/en.

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. Our Special Situations team focuses on capital solutions opportunities that provide companies flexible capital that meets their specific needs, coupled with deep operational, strategic and financial value-add capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @Bain Capital on LinkedIn and X (Twitter).

About PSG Equity
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 150 companies and facilitated over 520 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid, and Tel Aviv. To learn more about PSG, visit www.psgequity.com.

About Ambienta
Ambienta is a European investment manager pioneering sustainable investing in environmental champions across private equity, public markets, and private credit. With offices in Milan, London, Paris, and Munich, Ambienta manages over €4bn in assets and is backed by a global and growing investor base. The firm invests in companies driven by environmental megatrends and whose products or services improve Resource Efficiency or Pollution Control. Its science-driven approach identifies environmental champions of the real economy – businesses that deliver strong financial returns while generating measurable positive environmental impact.  An industry pioneer, Ambienta was one of the first UN PRI signatories in 2012 and attained B-Corp status in 2019. In 2020, Ambienta became IIGCC member and in 2023 committed to the Science-Based Targets initiative (SBTi). www.ambientasgr.com

Categories: News

Tags:

Apollo Funds Complete Acquisitions of International Game Technology’s Gaming & Digital Business and Everi; Combined Enterprise to Operate as IGT

Apollo logo

Establishes IGT as a Premier Platform for Innovation, Delivering Exceptional Content and Scalable Solutions Across the Global Gaming Ecosystem

NEW YORK and LAS VEGAS, July 01, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced the completion of the previously announced acquisitions of International Game Technology PLC’s (doing business as “Brightstar Lottery”) Gaming & Digital Business and Everi Holdings Inc. (“Everi”) by a holding company owned by funds managed by Apollo affiliates (the “Apollo Funds”). The all-cash transaction, valued at approximately $6.3 billion, brings together complementary businesses to form a privately held global leader in gaming, digital and financial technology solutions.

The two companies will be integrated into a combined enterprise in the coming months. Headquartered in Las Vegas, the combined enterprise will operate under the IGT name, while retaining the Everi brand in select markets and product lines. IGT will be organized into three business units: Gaming, Digital and FinTech, creating a customer-first enterprise supported by a people-first culture that values talent, collaboration and innovation.

“This is a defining moment for our industry,” said Nick Khin, Interim CEO of IGT. “By uniting two leading organizations, we are building an enterprise with the scale, talent and technology to lead the future of gaming. With Apollo’s support, we are very well-positioned to deliver exceptional content across land-based and digital experiences, along with integrated financial solutions and casino management that enhance the player journey and drive value for our customers. I’m honored to be part of this exciting chapter and to help shape the future of IGT.”

As previously announced, Hector Fernandez is expected to assume the role of CEO of IGT in the fourth quarter of 2025, following the expiration of a customary non-compete period. Until then, Mr. Khin will lead the organization and transition into the role of CEO of IGT’s Gaming business unit upon Mr. Fernandez’s arrival.

“Bringing together highly complementary businesses creates a more competitive, agile and well-capitalized platform built for long-term growth,” said Daniel Cohen, Partner at Apollo. “We are confident that IGT is well positioned to deliver differentiated content and capabilities that better serve customers across the globe. We look forward to working closely with Hector, Nick and the rest of the talented IGT team to lead the industry forward.”

Effective today, Everi common stock has been delisted from the New York Stock Exchange. Everi stockholders are receiving $14.25 per share in cash, and International Game Technology PLC is receiving $4.05 billion of gross cash proceeds.

Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to the Apollo Funds.

About IGT

IGT is a leading global provider of gaming, digital and financial technology solutions, formed through the combination of International Game Technology PLC’s Gaming & Digital Business and Everi Holdings Inc. IGT’s offering spans gaming machines, game content and systems, iGaming, sports betting, cash access, loyalty and player engagement solutions, enabling it to deliver integrated, customer-centric experiences across land-based and digital environments. Organized into Gaming, Digital and FinTech business units, IGT drives innovation, efficiency and value for casino, digital and hospitality operators worldwide. The company is headquartered in Las Vegas.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit www.apollo.com.

Forward-Looking Statements

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “foresee,” “intend,” “may,” “plan,” “project,” “should,” “will,” and “would” and the negative of these terms or other similar expressions. In addition, all statements regarding IGT’s business following its acquisition by the Apollo Funds are forward-looking statements. These forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, among other things, risks related to the ability to realize the anticipated benefits of the acquisitions; the ability to retain and hire key personnel; unexpected costs, charges or expenses resulting from the acquisitions; risks related to competition in the gaming and lottery industries; dependence on significant licensing arrangements, customers, or other third parties; economic changes in global markets, such as currency exchange, inflation and interest rates, and recession; government policies (including policy changes affecting the gaming industry, taxation, trade, tariffs, immigration, customs, and border actions) and other external factors that IGT cannot control; regulation and litigation matters relating to the acquisitions; unanticipated adverse effects or liabilities from business divestitures; risks related to intellectual property, privacy matters, and cyber security (including losses and other consequences from failures, breaches, attacks, or disclosures involving information technology infrastructure and data); other business effects (including the effects of industry, market, economic, political, or regulatory conditions); and other risks and uncertainties. Neither IGT nor the Apollo Funds intends to update or revise any forward-looking statements as a result of new information or future events or developments, except as required by law.

Contacts

For IGT
Phil O’Shaughnessy
VP Global Communications, Government Relations & Sustainability
Toll free in U.S./Canada +1 (844) IGT-7452; outside U.S./Canada +1 (401) 392-7452
Phil.oshaughnessy@igt.com

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

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

Categories: News

Tags:

Warburg Pincus Announces Partnership with Marissa Thomas and Steve Varley to Launch Unity Advisory, a Next-Generation CFO Advisory Firm

Warburg Pincus logo

London, June 30, 2025 – Warburg Pincus, the pioneer in private equity global growth investing, has announced a partnership with Marissa Thomas and Steve Varley, two of the UK’s most accomplished professional services leaders, to establish Unity Advisory, a next-generation CFO advisory firm. Unity Advisory will initially provide Office of the CFO services spanning business finance, finance operations, tax and compliance, deal readiness, digital and transformation to private equity-backed and other upper mid-market businesses.

Unity Advisory is financed through an initial equity line of up to $300 million from funds affiliated with Warburg Pincus, along with a substantial additional commitment from the founders. Further capital may be deployed to support future expansion and enhance the value proposition.

The firm sets itself apart by offering Partner-led, high-touch, technology-driven services without the constraints of audit conflicts. From day one, AI will play a central role in how the firm works and serves clients. A key focus of investment will be in AI and cutting-edge automation, which—combined with an experienced and expert team—will help deliver exceptional service, be outcome driven, with client service leaders who are client-focused. Headquartered in London, the firm plans to expand into other key markets and geographies over time.

Marissa Thomas, formerly Managing Partner of PwC UK, founded Unity Advisory and serves as CEO. Steve Varley, formerly EY UK&I Regional Managing Partner and Chair of EY UK, assumes the role of Chairman. David Tapnack joins the team as Managing Partner. Unity Advisory launches with an initial group of experienced partners and team members recruited from the Big Four and other market leading firms. Rapid expansion is anticipated through accelerated hiring of partners and other talent, as well as selective acquisitions.

“We believe there is a more effective way to serve CFOs, and our extensive market research supports this belief,” said Marissa Thomas, CEO of Unity Advisory. “Clients desire senior-level attention, strong technical and industry expertise and a firm that matches their pace. We have assembled a highly experienced team and are committed to building a leading business with strong support from a premier global private equity investor.”

“Unity Advisory offers clients greater choice in CFO services, reflecting a deep understanding of what clients want,” stated Steve Varley, Chairman of Unity Advisory. “Our goal is to create a next generation firm that is entrepreneurial in spirit and rigorous in execution. The business has launched with great momentum; we already have significant client interest which will fuel growth, and a strong recruitment pipeline of talented individuals seeking more variety, reward, and pace in their careers, with a path to Partnership based on an inclusive meritocracy.”

The partnership with Warburg Pincus builds on the firm’s successful and entrepreneurial track record in professional services, including its historical investment in Evelyn Partners’ professional services business and backing the launch of new platforms such as insurance brokerage McGill and Partners.

David Reis, Managing Director, and Rianne Schipper-Kogel, Principal at Warburg Pincus, commented: “We are thrilled to support Marissa, Steve, David and the broader team in the creation of Unity Advisory. Based on our sector experience, we believe the Company will offer a highly distinctive proposition to CFOs and be uniquely positioned to capitalize on what we believe is a substantial market opportunity.”

About Unity Advisory

Unity Advisory is a London-based firm providing Office of the CFO services to private equity-backed and other upper mid-market businesses. With offerings across business finance,  finance operations, tax and compliance, deal readiness, digital and transformation, the firm delivers Partner-led, high-touch, technology-driven solutions — free from the constraints of audit conflicts.

From inception, Unity Advisory has embedded AI at the core of its operations and client delivery. Combining deep experience with a forward-looking technology vision, the firm is redefining how CFO functions are supported in today’s fast-moving business environment. With plans to expand into other key markets and geographies, Unity Advisory is poised for growth while remaining committed to excellence, innovation, and client success.

Unity Advisory was founded by Marissa Thomas, formerly Managing Partner of PwC UK, who now serves as CEO. Steve Varley, former EY UK&I Regional Managing Partner and Chair of EY UK, joins as Chairman. David Tapnack takes on the role of Managing Partner. Together, the leadership team brings deep expertise and a bold vision for transforming finance functions through innovation and experience.

For more information, please visit: https://unity-advisory.com/

About Marissa Thomas, Steve Varley and David Tapnack

Marissa Thomas was a partner at PwC for over twenty years, holding a number of leadership roles in the UK partnership. Most recently until June 2024, she was Managing Partner and COO. Marissa is an experienced and well known adviser to the private equity industry. Today, Marissa is a non executive director for ECIT, a professional and technology services business which has a minority investment by funds advised by TowerBrook Capital Partners (U.K.) LLP. Marissa is CEO of Unity Advisory, a next-generation CFO advisory firm, backed by Warburg Pincus.

Steve Varley was a Partner at Andersen Consulting, and then Accenture, before joining EY in 2005. In 2011 he was elected as the UK&I Regional Managing Partner and UK Chair of EY, a role he held for 9 years.  Steve’s last role at EY was as Global Vice-Chair Sustainability. He left EY at the end of 2023 and now chairs DWF Group, a global law firm and portfolio company of Inflexion, and is Chairman of Unity Advisory, a next-generation CFO advisory firm, backed by Warburg Pincus.

David Tapnack was a partner at PwC for sixteen years, where he founded the firm’s tech-enabled CFO Office and Insight & Analytics business. He subsequently held several senior roles in the UK firm including Head of Commercial, Chief People Officer for Transaction Services, and Chief Operating Officer for Forensics. David has advised private equity investors and their portfolio companies for twenty years. He left PwC in 2024, and is the Managing Partner of Unity Advisory, a next-generation CFO advisory firm, backed by Warburg Pincus.

About Warburg Pincus

Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $87 billion in assets under management, and more than 220 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com or follow us on LinkedIn.

Media Contact:

Alice Gibb
+44 20 730 603 90
alice.gibb@warburgpincus.com

Categories: News

Tags:

Ardian Clean Energy Evergreen Fund (ACEEF) expands its footprint in Italy with the acquisition of a portfolio of 117 solar plants

No Comments
Ardian

ACEEF acquired a 100% stake in a 116MW portfolio comprising 117 solar plants in operation located across multiple Italian Regions
• The portfolio enhances technology diversification of the existing ACEEF Italian platform with state-of-the-art revamped solar asset still benefiting from attractive feed in tariffs
• The seller is E2E, an Italian company active in the renewable energy sector led by entrepreneur Gianluca Lancellotti

Ardian, a world-leading private investment firm, announces that it has acquired a portfolio of 117 solar PV plants in operation, with a total capacity of 116 MW, located in several Italian regions and benefitting from feed in tariffs (Conto Energia tariffs).

The solar assets have more than 10 years of strong operating track record and many of them have been recently repowered and revamped with Tier 1 technology, delivering improved operational performance, reliability and uplift the installed capacity of the portfolio.

This transaction is fully aligned with ACEEF’s strategy focused on highly contracted (through incentive tariffs or long-term PPAs)brownfield renewable assets, with a balanced and diversified portfolio of generation capacity and offer highly visible opportunities to enhance capacity thanks to the strategic location of the assets across Italy.

This acquisition further strengthens ACEEF’s Italian fleet, which now holds ca.  400MW of wind, solar, hydro and biogas asset in operation and more than 400MW of asset under development, consistently with Ardian value creation strategy.
InEnergy, ACEEF Italian platform managing all renewable energy assets of the Fund in Italy will provide asset management and development services to the portfolio with its 50+ Team of experienced professionals.

”E2E has been active for a decade in the acquisition, optimization, and management of primarily incentivized photovoltaic assets. Over the past nine years, we have consolidated portfolios totaling more than 300 MW. This transaction marks the successful completion of a journey that began three years ago with the acquisition of the initial assets in this portfolio and continued through the implementation of our value creation strategy, including the revamping and repowering of the plants. In the last 12 months, we worked closely with Ardian to further enhance the operational efficiency of the portfolio, achieving an average annual revenue exceeding €630,000 per MW for the incentivized plants. This sale will enable us to consolidate new portfolios and continue advancing our mission. Collaborating with Ardian on this deal has been an excellent experience, and we look forward to continuing our partnership in the future—working together toward an energy transition grounded in tangible, immediate impact.” Gianluca Lancellotti, Founder and General Manager, E2E

“This acquisition is consistent with ACEEF strategy to consolidate renewable asset in the Italian market. The E2E asset will complement our existing wind and hydro portfolio adding further geographic and technological diversification. Thanks to ACEEF evergreen structure we can deploy long-term value creation plan, through repowering, hybridization and greenfield development. Under ACEEF control we intend to further improve the performance of the portfolio, thanks to our digital tool OPTA and our unique position in the market, and expand the portfolio with additional growth, leveraging on the industrial capabilities of our Italian platform InEnergy. We are pleased to begin our long lasting partnership with E2E.” Federico Gotti Tedeschi, Managing Director Infrastructure, Ardian

ACEEF is Infrastructure’s first open-ended clean energy fund, which was launched in early 2022 and whose fundraising reached €1.0bn at the closing in July 2023. The fund offers professional investors the opportunity to enhance their exposure to renewable assets and the energy transition. The fund commits to make investments with an environmental objective as described in Article 9 fund of the EU Sustainable Finance Disclosure Regulation (SFDR) and invests globally, with a focus on Europe.

ACEEF will continue to focus on core renewable assets including solar, wind and hydro, as well as emerging technologies across biogas, biomass, storage and energy efficiency.

Ardian has been a pioneer in the energy transition, having started investing in renewable assets in 2007. Across all Infrastructure Funds at Ardian, the team manages more than 8GW of thermal and renewable energy capacity in Europe and the Americas.

List of participants

  • Ardian

    • M&A: Vitale and InEnergy
    • Legal: Legance
    • Technical: EOS
    • Accounting and Tax: PWC

  • E2E

    • M&A: L&B Partners SpA
    • Legal: L&B Partners Avvocati Associati
    • Tax: Torresi

ABOUT ARDIAN

Ardian is a world-leading private investment firm, managing or advising $180bn of assets on behalf of more than 1,850 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT E2E

E2E S.p.A. is a leading Italian operator in the photovoltaic sector, specializing in the acquisition of medium-sized photovoltaic plants and their subsequent technical management and optimization. Founded in 2016 by Gianluca Lancellotti, who brings over 25 years of experience in the energy sector, E2E has achieved outstanding results. As of today, the company has acquired more than 350 photovoltaic plants with a total installed capacity exceeding 300 MW, completing over 230 acquisitions and investing approximately €1bn.

E2E-Power.com

Media Contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com 

Categories: News

Tags:

Torrent Pharma to Acquire Controlling Stake in J. B. Chemicals & Pharmaceuticals from KKR

KKR

Acquisition to be followed by merger; strengthens Torrent’s IPM market presence

MUMBAI, India–(BUSINESS WIRE)– Torrent Pharmaceuticals Limited (“Torrent”) and global investment firm KKR today announced that Torrent has entered into definitive agreements to acquire controlling stake in J. B. Chemicals and Pharmaceuticals (“JB Pharma”) from KKR at an Equity Valuation of INR 25,689 crores (on fully diluted basis), followed by a merger of the two entities. The transaction marks a significant step in Torrent’s ambition to create a future-ready, diversified healthcare platform combining a deep chronic segment heritage with emerging international CDMO capabilities.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250629033492/en/

The transaction will be executed in 2 phases:

  1. Acquisition of 46.39% equity stake (on a fully diluted basis) through a Share Purchase Agreement (“SPA”) at a consideration of INR 11,917 crores (INR 1,600 per share) followed by a mandatory open offer to acquire up to 26% of JB Pharma shares from public shareholders at an open offer price of INR 1,639.18 per share. In addition to the above, Torrent has also expressed its intent to acquire up to 2.80% of equity shares from certain employees of JB Pharma at the same price per share as KKR.
  2. Merger between Torrent and JB Pharma through a scheme of arrangement. As per the approval given by the Board of Directors of both companies, upon merger of JB Pharma with Torrent, every shareholder holding 100 shares in JB Pharma shall receive 51 shares of Torrent.

Samir Mehta, Executive Chairman, Torrent, commented: “We are pleased to have on board the JB Pharma heritage and build on the platform for the future. Torrent’s deep India presence and JB Pharma’s fast growing India business, combined with the CDMO and international footprint offers immense potential to scale both revenue and profitability. This strategic alignment furthers our goal of strengthening our presence in the Indian pharma market, and build a larger diversified global presence. Moreover, the CDMO platform provides a new long-term avenue of growth for Torrent.”

Gaurav Trehan, Co-Head of Asia Pacific and Head of Asia Pacific Private Equity, KKR, and CEO of KKR India, said: “JB Pharma’s transformation under our stewardship is a testament to KKR’s ability to scale high-quality companies. We are proud to have collaborated with JB Pharma’s management team, led by Nikhil Chopra, to bring the breadth of KKR’s global experience and operational expertise to support the company’s organic and inorganic growth, and help JB Pharma become one of India’s fastest growing branded pharmaceutical companies. We believe the company is well-positioned for continued growth ahead and wish the team every success in its next chapter with Torrent.”

Nikhil Chopra, Chief Executive Officer and Whole Time Director of JB Pharma, remarked: “Over the past five years, JB Pharma has emerged as one of India’s fastest growing pharmaceutical players, owing to KKR’s strategic guidance, stewardship of our independent directors and a focused strategic and executional excellence by the management team. We have built a strong foundation to deliver market-leading growth, as well as consistent improvement in profitability in the medium and long term. As we now enter a new chapter alongside Torrent Pharmaceuticals, we are confident that the combined strengths of our organizations will unlock greater opportunities to enhance healthcare access across our markets.”

Strategic Rationale for Acquisition

  • Acquisition provides access to a fast-growing India franchise, with leading brands in the chronic segment, and entry into untapped therapeutic areas like ophthalmology
  • Strengthens market share in the IPM for Torrent
  • Operational synergies across multiple business functions
  • Platform diversification: entry into the CDMO segment with long-term potential
  • Consolidation in key international markets and greater ability to scale up

Transaction Structure & Approvals

  • Torrent will acquire 46.39% stake (on a fully diluted basis) through an SPA and additional potential acquisition of up to 2.80%, aggregating to 49.19% which will trigger a mandatory open offer of 26.0% as per Regulation 3 and 4 of SEBI (SAST) Regulations followed by a merger through a Scheme.
  • Both the SPA and Scheme are subject to standard requisite statutory and regulatory approvals, including from Securities and Exchange Board of India (SEBI), Stock Exchanges, the Competition Commission of India (CCI), National Company Law Tribunal (NCLT), and other approvals, as applicable.

Advisors
Moelis & Company and NovaOne acted as financial advisors for Torrent. Khaitan & Co. acted as legal counsel to Torrent. Ernst and Young Merchant Banking Services LLP (for Torrent) and BDO Valuation Advisory LLP (for JB Pharma) acted as independent registered valuers. Kotak Investment Banking and Rothschild & Co acted as financial advisors to KKR. Shardul Amarchand Mangaldas & Co acted as legal counsel to KKR and JB Pharma. Goldman Sachs (India) Securities Pvt. Ltd. acted as the financial advisor to JB Pharma. AZB & Partners acted as legal counsel to the Board of Directors of JB Pharma. Fairness opinion on the share exchange ratio recommended by the valuer was provided by Axis Capital Limited to the Board of Torrent and by ICICI Securities Limited to the Board of JB Pharma.

About Torrent
Torrent Pharma is a leading player in the Indian pharmaceutical sector, concentrating on the chronic and sub-chronic therapeutic segments. The Company has established itself as a leader in developing niche pharmaceutical solutions through its patient-centric innovation. It also has a strong global presence across Brazil, Germany, and the United States.

About JB Pharma
J.B. Pharma (BSE: 506943 | NSE: JBCHEPHARM | ISIN: INE572A01028), is one of the fastest growing pharmaceutical companies in India and a leading player in the hypertension segment. Besides its strong India presence, which accounts for majority of its revenue, its other two home markets are Russia and South Africa. In India, the company has six brands among the top 300 IPM brands in the country. The company exports its finished formulations to over 40 countries including the USA, and is also a leading CDMO player in the segment of medicated lozenges. It has eight state of the art manufacturing facilities in India including a dedicated manufacturing facility for lozenges. The manufacturing facilities are certified by leading regulators across the world.

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.

Media Contacts

For KKR:
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

For Torrent Pharma:
Jayesh Desai
+91 9824501396

Source: KKR

 

Download PDF

Categories: News

Tags:

EQT to sell Pioneer Corporation, a leading Japanese provider of in-car sound and multimedia products and solutions, to CarUX for USD 1.1 billion

eqt

Pioneer

  • EQT to sell Pioneer, a leading Japanese provider of in-car sound and multimedia products and solutions for global OEMs and the consumer aftermarket, for USD 1.1 billion
  • Under EQT’s ownership, Pioneer has transformed into a global industrial tech firm with solid financials and strong cash flow, poised to build on its current growth momentum
  • Pioneer’s new partnership with CarUX, a leading innovator in smart cockpit solutions and a subsidiary of top panel supplier based in Taiwan, Innolux, will create strong synergies with Pioneer’s existing capabilities to continue on its global expansion trajectory

TOKYO – 26 June 2025 – EQT is pleased to announce that BPEA Private Equity Fund VI and BPEA Private Equity Fund VII (“EQT”) have agreed to sell Pioneer Corporation (“Pioneer” or the “Company”) for USD 1.1 billion[1] to CarUX, a leading innovator in smart cockpit solutions and a subsidiary of top panel supplier based in Taiwan, Innolux Corporation (3481.TW). The transaction marks a significant milestone in Pioneer’s growth journey, following its transformation since EQT’s initial investment in 2019.

Pioneer is a Japanese automotive technology leader in sound and navigation systems. Since its establishment in 1938, Pioneer has become an engineering powerhouse with strong R&D capabilities, and industry-leading manufacturing capabilities. In addition to in-car navigation and audio electronics systems for OEMs and the consumer aftermarket, Pioneer offers software capabilities and a range of hardware products for the automotive industry.

Since acquiring Pioneer in 2019, EQT has led a comprehensive transformation to regain financial strength and position the business for long-term growth. For the fiscal year ending March 2025, the Company delivered double digit EBITDA margins and strong free cash flow. EQT enhanced corporate  governance, installed a new leadership team, and executed cost and capital discipline measures across the organization, resulting in significant improvement in profitability and cash generation. Pioneer returned to its roots and core competencies in automotive sound, launching its new amp  technology platform and securing large projects from domestic and overseas clients. Leveraging Pioneer’s existing technologies, new growth verticals were launched in Mobility Services (software-led navigation with proprietary Japan-specific map data) and Mobility AI Connectivity (AI-based dash cams for international markets). Through improved operational efficiencies and strategic divestments of non-core assets, the Company was able to remain resilient even during COVID and periods of semiconductor shortage.

Shiro Yahara, President and CEO of Pioneer, said: “EQT has been instrumental in helping us drive transformation and innovation while preserving our DNA as a global leader in automotive technology. We look forward to this next chapter of growth with CarUX, building on the solid foundation that EQT helped us establish. We are proud to celebrate this milestone and look forward to partnering with CarUX to continue our product innovations and accelerate our global expansion.”

Sanjay Dhawan, Chairperson of the Board and independent director of Pioneer, said: “The automotive industry is undergoing a profound digital transformation, with digital content in vehicles rising from 27% to 40% and software playing an increasingly central role in cars. Under EQT’s ownership, Pioneer has embarked on a transformative journey—embracing innovation to lead in this new, software-defined era of mobility. This innovation has created substantial value across the board, benefiting customers, employees, and shareholders alike.”

Shane Predeek, Partner within EQT Private Capital, said: “We are proud to have helped revitalize one of Japan’s most iconic brands and reposition it for long-term success. This milestone marks an exciting new chapter for Pioneer, and we believe that there are synergies with CarUX and its parent company, Innolux, that will greatly benefit the business and its future potential. At EQT, we are committed to being responsible stewards of our companies – ensuring they are handed over to owners who can continue the momentum we’ve built and support their next phase of growth. This transaction also reflects EQT’s growing momentum in Japan, where we continue to execute on our strategy of building stronger, more resilient businesses with global ambition.”

The transaction is subject to customary conditions and approvals and is expected to be completed in Q4 2025.

Deutsche Securities served as lead financial advisor. BofA Securities also acted as financial advisor, and Morrison Foerster, White & Case, and Nagashima Ohno & Tsunematsu served as legal counsel to EQT.

[1] Converted at an exchange rate of 148.5 JPY/USD

Contact

EQT Press Office, press@eqtpartners.com

Downloads

About EQT

EQT is a purpose-driven global investment organization with EUR 273 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2025, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

 

About Pioneer

Pioneer is a leading global manufacturer that has been developing an array of world-first products and services since its inception in 1938 based on its corporate mission of “Move the Heart and Touch the Soul.” Through our core car electronics business, we propose new and unique value by providing products and services that realize comfort, excitement, safety and security in vehicle interiors, utilizing unique and innovative ideas combined with cutting-edge technologies. We have formulated the goal of “Creating the Future of Mobility Experiences” as our corporate vision and are committed to transforming into a solution company that uses products and services to solve the myriad challenges of the mobility field. For more information on Pioneer, please visit https://global.pioneer/en/

Categories: News

Tags:

Atlantic Union Bank Closes Sale of Approximately $2 Billion of Commercial Real Estate Loans to Blackstone

Blackstone

Richmond, Va. & New York, June 26, 2025 – Atlantic Union Bankshares Corporation (NYSE: AUB) (“Atlantic Union”), the holding company for Atlantic Union Bank (the “Bank”), and Blackstone (NYSE: BX) jointly announced today the closing of the sale of approximately $2 billion of the Bank’s performing commercial real estate (“CRE”) loans acquired from Sandy Spring Bank to vehicles affiliated with Blackstone Real Estate Debt Strategies (“BREDS”). The CRE loan sale was contemplated and announced as part of Atlantic Union’s merger with Sandy Spring Bancorp, Inc., which closed on April 1, 2025.

“After closing our acquisition of Sandy Spring, we have been focused on integration and execution,” said John Asbury, president and CEO of Atlantic Union. “Today’s announcement is another proof point of Atlantic Union’s ability to execute and deliver on transactions that create long-term value for our shareholders. We were pleased to work with Blackstone Real Estate on this transaction, which both sides executed seamlessly. The loan sale transaction reduces our CRE concentration and frees up capacity for potential future growth.”

Tim Johnson, Global Head of Blackstone Real Estate Debt Strategies, said: “This transaction demonstrates the breadth of our market-leading platform and deep expertise providing solutions to financial institutions for their commercial real estate portfolios. With $76 billion of AUM, including the recent closing of one of the largest real estate debt funds ever, we believe we are well-positioned to access differentiated real estate credit investment opportunities on behalf of our institutional, insurance and individual investors.”

The final CRE loan pool sold by the Bank had balances totaling approximately $2 billion which were previously identified and transferred to held for sale as of April 1, 2025. The loan pool was sold in the low 90s as a percentage of par value, and the Bank retained customer-facing servicing responsibilities.

The Bank intends to use the proceeds from the loan sale to pay down certain high-cost deposits and certain other high-cost funds, as well as to add to its securities portfolio.
For Blackstone Real Estate, this transaction follows the acquisition of $20 billion of CRE loan portfolios in the last 24 months, including the acquisition of an approximately 20% stake in the $17 billion Signature Bank CRE debt portfolio and the $1 billion performing senior mortgage loan portfolio acquisition from PBB.

Morgan Stanley & Co. LLC served as sole structuring advisor to Atlantic Union and Hunton Andrews Kurth LLP acted as its legal advisor on the transaction.

Citigroup Global Markets Inc. and CBRE National Loan & Portfolio Sale Advisors acted as financial advisors to Blackstone. Gibson, Dunn & Crutcher LLP, Ropes & Gray LLP and Benesch Friedlander Coplan & Aronoff LLP acted as legal advisors to Blackstone.

About Atlantic Union Bankshares Corporation
Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB) is the holding company for Atlantic Union Bank. Atlantic Union Bank has branches and ATMs located in Virginia, Maryland and North Carolina. Certain non-bank financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment Finance, Inc., which provides equipment financing; Atlantic Union Financial Consultants, LLC, which provides brokerage services; and Union Insurance Group, LLC, which offers various lines of insurance products.

About Blackstone Real Estate Debt Strategies
Blackstone Real Estate Debt Strategies (“BREDS”) is the largest alternative asset manager of real estate credit with $76 billion of investor capital under management. Serving institutional, insurance, and individual investors, BREDS originates loans and makes debt investments across global private and public real estate credit markets and across the capital structure and risk spectrum. BREDS also manages Blackstone Mortgage Trust (NYSE: BXMT), a publicly-traded commercial mortgage REIT, and is a fully integrated part of the Blackstone Real Estate platform, the largest owner of commercial real estate globally.

Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder, which statements involve inherent risks and uncertainties. Examples of forward-looking statements include, but are not limited to, statements regarding the loan sale, including Atlantic Union’s intended use of proceeds from the sale and the expected benefits of the sale to Atlantic Union. Such statements are often characterized by the use of qualified words (and their derivatives) such as “intend,” “may,” “will,” “potential,” “anticipate,” “could,” “should,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” and “project,” as well as words of similar meaning or other statements concerning opinions or judgment of us or our management about future events. Forward-looking statements are based on assumptions as of the time they are made and are subject to risks, uncertainties and other factors that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results expressed or implied by such forward-looking statements. Such risks, uncertainties and assumptions, include, among others, the following: the possibility that the intended use of proceeds from the loan sale may change as a result of changes in economic conditions, market interest rates, volatility in the financial services sector, Atlantic Union’s capital position, or as a result of other unexpected factors or events; Atlantic Union’s ability to deploy the net proceeds in the manner it expects; and other factors, many of which are beyond Atlantic Union’s control.

Although Atlantic Union believes that its expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that our actual results will not differ materially from any projected future results expressed or implied by such forward-looking statements. Additional factors that could cause results to differ materially from those described above can be found in Atlantic Union’s most recent annual report on Form 10-K and other documents subsequently filed by Atlantic Union with the Securities Exchange Commission.

Investors are cautioned not to rely too heavily on any such forward-looking statements. Forward-looking statements speak only as of the date they are made and Atlantic Union undertakes no obligation to update or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

Contact
Bill Cimino, 804.448.0937, Senior Vice President and Director of Investor Relations of Atlantic Union

Jeffrey Kauth, 212.583.5395, Blackstone

Categories: News

Tags:

Bain Capital and 11North Partners Acquire Portfolio of Open-Air Lifestyle Retail Centers in Oklahoma City

BainCapital

Classen Curve - Night Aerial

BOSTON AND NEW YORK – June 25, 2025 – Bain Capital and 11North Partners (“11North”), a retail-focused investment platform, today announced the acquisition of three open-air, lifestyle retail centers in Oklahoma City for approximately $212 million.  The private transaction was completed via an exclusive joint venture between Bain Capital Real Estate and 11North that focuses on acquiring and operating open-air retail centers throughout the U.S. and Canada.

Competitively located in the affluent and growing Nichols Hills submarket of Oklahoma City, the portfolio includes Nichols Hills Plaza, The Triangle at Classen Curve, and Classen Curve, which together comprise  nearly 40 acres of high-performing open-air lifestyle centers with occupancy rates exceeding 97%.  The properties are recognized as the go-to choice for national retailers seeking to enter the market and are among the most frequented neighborhood centers in the state.  The three centers are anchored by Whole Foods and Trader Joe’s and complemented by more than 50 unique-to-market tenants including Lululemon, Warby Parker, West Elm, Anthropologie, Sephora, and Kendra Scott, the portfolio benefits from high traffic volumes and enjoys proximity to the two largest private employers in the city – Integris Baptist Medical Center and Chesapeake Energy Headquarters.

Bain Capital Real Estate and 11North, founded by CEO Brian Harper, a 25-year real estate industry veteran with deep retail experience, formed a strategic joint venture in April 2024 to acquire open-air retail assets with a high concentration of necessity-based tenants.  At 11North, Mr. Harper is joined by several senior executives from RPT Realty, who have a long track record of working as a team to create value and transform assets.

“We believe the market opportunity today represents a compelling time to be investing in open-retail centers, an asset class which has proven resilient through multiple economic cycles and continues to benefit from attractive, long-term fundamentals, a convenience-oriented and necessity-driven consumer, and strong retail sales and tenant demand,” said Mr. Harper.  “As one of the most dominant, highest quality assets in the region, the acquisition of these three trophy assets is representative of our platform’s differentiated sourcing capabilities and deep industry relationships.  Together with the partnership and support of our partners at Bain Capital, along with our global investors, we are well-positioned to capitalize on the many opportunities ahead of us as we seek to create a high-quality portfolio of scale.”

“This portfolio’s combination of national retailers and superior demographics strongly aligns with our strategy of investing in well-located, open-air properties that serve as essential retail centers in the communities where people live and work,” said Martha Kelley, a Managing Director at Bain Capital Real Estate.  “Through Bain Capital’s more than 40 years of investing in the consumer and retail sector and our collaborative partnership with Brian and the 11North team, we have created a differentiated platform that is well-capitalized to seize the compelling open-air retail opportunity and create value for our trusted investors.”

###

About Bain Capital Real Estate
Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested and committed over $9 billion of equity across multiple sectors. Bain Capital Real Estate focuses on assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate’s strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm’s global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities. Bain Capital is one of the world’s leading private investment firms with approximately $185 billion of assets under management. For more information, visit https://www.baincapitalrealestate.com.

About 11North Partners 
11North Partners is a real estate investment firm focused on curating a portfolio of retail investments diversified across markets and product types. With a focus on the intersection of superior performance and bold vision, the 11North team is dedicated to redefining the traditional approach to retail real estate.

The team’s combination of deep industry expertise, retailer and owner relationships, and blue-chip institutional partners provides unique insight into the ever-evolving retail landscape and unparalleled access to deal flow. 11North seeks to deliver attractive risk-adjusted returns through unlocking value across retail verticals including real estate ownership, debt and operating company investment. For more information, visit https://www.11northpartners.com.

Categories: News

Tags:

EQT exits property remediation specialist Recover

eqt

pexels-nicobecker-5667392

  • Following EQT’s acquisition in 2020, Recover has invested in its digital capabilities while divesting non-core business units to sharpen focus on water, fire and other core property remediation services

Recover, a leading Scandinavian property remediation specialist, today announced a change of ownership from EQT VIII (“EQT”) and minority investors to industrial investment company Pangea AS.

Recover, which employs approximately 1,730 people across the Nordics, plays a critical role in providing essential restoration services following water, fire, and environmental damage. EQT acquired the Company in early 2020 and despite the challenges presented by the COVID-19 pandemic, Recover has undergone a significant transformation. The Company has been future-proofed through strategic investments in digitization, including a new ERP and FSM system, and has sharpened its focus by divesting non-core business units.

Åge Landro, CEO of Pangea and Chair of Recover, commented: “Recover is a market-leading platform with strong operations and highly dedicated employees. We are excited to partner with the Company and look forward to supporting its continued growth journey across the Nordics and beyond.”

Juho Frilander, Managing Director in the EQT Private Equity advisory team, added: “We would like to thank the management team and all employees at Recover for their hard work and commitment over the past years. The transformation of the business has been impressive and Recover is now well-positioned to thrive in the years to come.”

The transaction is subject to customary conditions and regulatory approvals.

Contact
EQT Press Office, press@eqtpartners.com

Downloads

About EQT
EQT is a purpose-driven global investment organization with EUR 273 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2025, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram 

About Pangea
Pangea AS is an investment company focused on fostering sustainable growth by partnering with businesses across various industries and sectors. Its mission is to drive long-term value and success through strategic investments. Pangea is headquartered in Norway, with operations in 8 countries.  Pangea takes an active ownership approach and collaborates closely with management teams and employees.

Categories: News

Tags:

Gimv invests in Alpine to support its growth ambition and enhance its leading position in consumer hearing protection

GIMV

Gimv acquires a majority stake in Alpine, one of the leading international consumer brands providing passive hearing protection solutions, from Vendis Capital, the founders and management team. The management team reinvests part of its proceeds and teams up with Gimv to realize the next growth chapter of the company.

Alpine (www.alpine.nl), founded in 1994 and headquartered in the Netherlands, is a leading international brand in passive, premium consumer hearing protection. The company operates in more than 65 countries worldwide, benefiting from strong global omni-channel capabilities.  Alpine offers an extensive product portfolio of high-quality earplugs and earmuffs, designed to meet the evolving needs of consumers worldwide. Backed by a strong management team with a proven track record, Alpine emphasizes ESG principles, demonstrated by its recently acquired B-Corp status and focus on reusable products.

The passive hearing solution market is growing rapidly, with Alpine standing out as one of the global leaders in a fragmented landscape. Its strong international presence and well-executed multi-channel strategy – spanning OTC/retail, events, and e-commerce – position the company for sustained long-term growth. The company enjoys attractive margins and strong cash conversion, driven by scale advantage and premiumization.

As a premium, purpose driven consumer brand Alpine perfectly fits Gimv Consumer’s investment focus. The hearing protection market is benefiting from powerful underlying trends, including increased health awareness, a growing demand for more premium reusable alternatives, and a heightened focus on ESG. As consumers shift away from disposable products toward innovative, sustainable solutions, Alpine is well-positioned to lead this transformation. The partnership reflects Gimv’s commitment to supporting consumer businesses that promote long-term consumer well-being while driving positive environmental and social impact.

Patrick Franken and Jelle Assink, Partner and Principal in Gimv’s Consumer team, declare: “We are very excited to partner with the Alpine team and support them on their mission to shape the future of hearing protection. As the world grows louder, consumers are becoming increasingly aware of the importance of protecting their hearing. With its strong brand, an innovative product portfolio and broad international multi-channel reach, Alpine is uniquely positioned to elevate the global consumer awareness and lead the shift toward reusable hearing solutions. Alpine can count on Gimv on their growth journey, strengthening Alpine’s presence in key markets and exploring new opportunities for sustainable, long-term growth.”

Koen Bouckaert, Managing Partner Gimv Consumer, declares: “The Consumer investment in Alpine is another proof point that Gimv is willing and able to deploy larger investment tickets in fast-growing, more mature companies, supported by long-term fundamental trends and enabled by a seasoned management team.” 

Arthur van Keeken, CEO of Alpine, declares: “We are delighted to be partnering with Gimv, united by a clear ambition and vision. Over the past years, Alpine has firmly strengthened its position as a leading player in the fast-growing premium hearing protection market. At the same time, we have transformed our internal organization into a professional and sustainable growth platform. Thanks to this strong foundation, we are fully ready for the next step — and Gimv is the perfect fit. With Gimv by our side, we are confident that we can further accelerate our growth and mission.”

The size of this investment is in line with Gimv’s strategic ambition to increase the average ticket size of its investments. Alpine directly enters the top 5 participations in Gimv’s current portfolio. No further financial details on this transaction are being disclosed. The transaction remains subject to the works council advisory procedure.

Categories: News

Tags: