Category Archives: News

Nordic Capital-backed iLOQ expands to Australia

Nordic Capital

iLOQ, a provider of digital access management solutions, will continue to fulfil its growth strategy by expanding to Australia.

Founded in Finland in 2003, iLOQ currently has sales offices in thirteen countries in Europe, the Middle East, USA and Canada, as well as a comprehensive global partner network. Starting operations in Australia will advance iLOQ’s growth strategy and open up a large new market for the company.

Mike Smits has been appointed Country Manager, iLOQ Australia, from the beginning of September. His role is to develop the Group’s business into new markets and business models by launching operations in Australia and building a local country organization. He is also responsible for leading the smart-locking revolution as iLOQ expands to a new continent.

Before joining iLOQ, Mr Smits held senior management roles in multinational companies such as Honeywell, VACON and Danfoss. He also brings a wealth of market experience from the Asia Pacific region.

“iLOQ continues to grow in line with its strategy. We bring to new markets state-of-the-art digital- and mobile-based locking solutions that are flexible, sustainable and reduce lifecycle costs,” said Heikki Hiltunen, CEO of iLOQ.

 

For more information, please contact:

Heikki Hiltunen
President and CEO, iLOQ
e-mail: heikki.hiltunen@iloq.com

Thomas Thörewik
Chief Sales Officer, iLOQ
e-mail: thomas.thorewik@iloq.com

About iLOQ
iLOQ is a rapidly growing Finnish company that is leading the technological revolution in the digital locking industry. iLOQ transforms mechanical locks into digital and mobile access management. iLOQ solutions are based on technologies developed and patented by the company, enabling electronic and mobile locking without batteries or cables. iLOQ replaces mechanical and electromechanical locking systems with environmentally friendly solutions that solve the problems of lost or copied keys, reduce lock maintenance and minimise lifecycle costs. For more information about iLOQ, please see: www.iloq.com

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Thompson Street Capital Partners Announces the Sale of ZymeFlow to ShawKwei & Partners

Thompson

Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, MO, announced today it has completed the sale of ZymeFlow and its related group of companies to ShawKwei & Partners (ShawKwei), an Asian private equity industrial investor. Terms of the transaction were not disclosed.

Based in Houston, Texas, ZymeFlow’s ecofriendly and patented products and services are highly efficient in the decontamination and maintenance of chemical plants and energy refinery facilities in the US and around the world. ShawKwei purchased ZymeFlow in partnership with management from investors, including TSCP. The acquisition supports ShawKwei’s energy transition investment strategy of a lower carbon economy.

“Our collaboration with ZymeFlow’s leadership team enabled the company to strengthen its management team and enhance its products and services while maintaining the highest level of customer service,” said Harry Holiday, Managing Director at Thompson Street Capital Partners. “ZymeFlow is well positioned for both strategic and geographic expansion and we’re excited to see what the future holds.”

Founded more than 35 years ago, ZymeFlow provides customers with innovative solutions using proprietary advanced chemistries that are biodegradable, environmentally safe, and cost efficient. ZymeFlow owns patented products and engineering application methods including ZymeFlow®, Rezyd-H™, CatZyme RT™, and Vapour-Phase® together with service staff and equipment for the decontamination of process equipment in refineries, chemical plants, and industrial facilities. ZymeFlow products and application services are sold to both onshore and offshore energy and chemical customers in over 55 countries.

“Today there is an urgent need to use the safest and most effective ZymeFlow decontamination products and services that are 100% biodegradable, safe, non-toxic, and incredibly powerful,” said Tom McQuery, Founder and President of ZymeFlow. “ShawKwei is an experienced global investor in the energy transition industry and is committed to growing ZymeFlow in both the US and international markets. The ZymeFlow management team is excited to be part of the ShawKwei group of companies, and in combination with CR3’s capabilities ZymeFlow will be able to expand into an even larger combined customer base.”

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Yellowtail Conclusion adds fintech ADPI to its portfolio

NPM Capital

Joining forces for the most progressive consultancy platform

Yellowtail Conclusion has acquired ADPI, the innovative mortgage SaaS platform for lenders and intermediaries, from founder Maarten Tellegen and investor Beekers Capital. With the addition of the ADPI SaaS platform for mortgage orientation, consultancy, mediation and management, Yellowtail Conclusion has all the components for a digital and efficient mortgage process. From the first customer contact to active management.

Matthijs Mons, Managing Director of Yellowtail Conclusion: “With ADPI, together with our existing components, we now have by far the most modern, innovative and secure SaaS platform in the financial consultancy market. The combination of the innovative ADPI platform within the solid Yellowtail Conclusion environment is truly unique. This means our dream of developing the consultancy platform of the future is now very close.”

Maarten Tellegen, founder of ADPI: “Yellowtail Conclusion is the ideal acquisition partner for us. Yellowtail’s reach in the sector will accelerate ADPI’s growth in the market for intermediaries, service providers and lenders alike. In addition, Yellowtail’s professional organisation guarantees the stability and innovative power to continue to offer the most progressive software package in the market. A win-win situation for everyone involved.”

ADPI will be integrated into Yellowtail Conclusion and continue as Hypact Advisor. This makes ADPI part of the complete Hypact Suite, including Hypact, Online Advice, Hypact Hub and Hypact HypotheekAssist. This enables Yellowtail Conclusion to serve all parties in the mortgage chain, from independent consultant, via service provider to lender. Founder Maarten Tellegen and his team remain involved and Maarten will continue to manage the company in the future. The operational teams will work closely together to ensure a smooth transition. Existing ADPI customers can rest assured that their ongoing projects and contracts will continue without interruption.

The combination will benefit from maximum sector knowledge, an extensive talent pool and the synergies between the two companies will contribute to further innovation and growth.

 

 

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Main Capital Partners acquires Danish market leading industry-specific software provider Unik System Design

Main Capital Partners

Main Capital Partners is delighted to announce the signing of the acquisition of a majority stake in Unik System Design (‘Unik’).

Main Capital Partners (‘Main’) is delighted to announce the signing of the acquisition of a majority stake in Unik System Design (‘Unik’), a leading software vendor with deep industry and domain knowledge within housing- & property management and legal administration. Main will act as a strategic partner to the management team, supporting Unik in its ongoing journey towards becoming a leading pureplay Software-as-a-Service provider (‘SaaS’), underpinned by an international buy & build strategy.

Founded in 1985, Unik is an innovative Danish industry-specific software vendor with +240 employees and consultants in Vejle, Aalborg, Copenhagen and Warsaw. With close to four decades of experience, the company has positioned itself with the market’s most used software solutions, servicing more than 900 clients ranging from large scale private and public housing associations to law offices and legal corporate departments throughout Denmark.

Unik is in the state of re-inventing itself, not only to be able to provide a higher degree of efficiency, automation and digitalization to its daily users, but also to push the limits for what happens when digital innovation meets deep industry knowledge. Over the next couple of years, the two new SaaS products, HabiCen for housing- & property management, and JustiCase for legal administration, will gradually replace the current products, Unik Bolig og Unik Advosys.

Looking ahead, Main Capital Partners will actively support Unik in maintaining the strong growth momentum by further broadening the product offering to its existing customers. In addition to organic growth initiatives, strategic add-on acquisitions will be an important pillar of the strategy to complement the innovative product portfolio as well as to strengthen the market position, both in Denmark and abroad.

Jens Find, CEO of Unik System Design, comments: “We were not in the market for a partner, but in our dialogue with Main we realized the potential this partnership could bring to the table. After 38 years as CEO and main owner, it is my clear impression that it is the right decision for Unik, our customers and our employees. We will continue with the current management and the current owners will retain a significant ownership of 40%. For us it is more of a partnership than a sale.”

Tonni Rasmussen, CTO of Unik System Design, comments: “Our customers rely on our ability to innovate and leverage our industry expertise to establish the benchmark for how software can automate their business operations. Developing two cutting-edge SaaS-products, HabiCen and JustiCase, is part of the next big innovation of Unik, with focus on enhanced security and operational efficiency. I am convinced our strategic partnership with Main will further accelerate this transition, enabling us to expedite the delivery of the next generation Enterprise software solutions.”

Wessel Ploegmakers, Partner at Main Capital Partners, concludes: “Unik has been on our radar for a long time as one of the leading Danish software vendors, and we are pleased to be given the opportunity to support the company going forward in its journey to become an international leading SaaS-provider. We are confident that our focused organic growth initiatives coupled with a selective buy-and-build strategy will result in an improved value proposition towards existing and new customers.”

We are confident that our focused organic growth initiatives coupled with a selective buy-and-build strategy will result in an improved value proposition towards existing and new customers.

– Wessel Ploegmakers, Partner at Main Capital Partners

About

Unik System Design

Unik System Design is a Danish software company developing industry solutions for housing- & property management and legal administration, with more than 240 employees and consultants in Vejle, Aalborg, Copenhagen and Warsaw. Unik has over 35 years of experience in creating the most efficient digital workday for their customers, developing and supplying selected industries with the market’s most used software solutions.

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twig secures £3 million in funding to bioengineer eco-friendly products at scale

Seedcamp

Our planet’s natural resources are increasingly under strain due to climate change and overconsumption. Novel and more eco-friendly solutions to how we produce food and essential everyday items are urgently needed to sustain a growing global population.

This is why we are excited to back twig, a UK-based bioengineering company that harnesses an AI-first approach to develop eco-friendly alternatives to everyday ingredients in consumer goods, and replace environmentally harmful chemicals and ingredients (e.g. acetone, palm oil, or isoprene), which are typically produced from fossil fuels, or hyper-intensive farming.

Founded by Dr. Russ Tucker (who previously founded UK cultivated meat pioneer Ivy Farm), Dr. James Allen, and Dr. Satnam Surae, twig is on a mission to radically improve the speed and efficacy of lab-based bioengineering, creating affordable, scalable, and dependable ingredients that producers can use in the everyday items the world relies on.

Dr. Russ Tucker, co-founder of twig highlights: 

“Many of the biggest little ingredients that go into the products we use in our daily lives are hugely damaging for the planet. This needs to change, and this needs to happen fast. (…) through the right combination of  AI and automation, we can deliver a step-change in bioengineering, driving a global transition from unsustainably resourced ingredients to bio-fermented ingredients in a way that benefits everyone – people, producers, and the planet.” 

twig’s new approach fundamentally reduces the time and costs of conventional bioengineering processes for developing potential ingredient strains. Combining AI and SynBio (synthetic biology), twig relies on three distinct tech pillars:

1) Bio:Builder: a best-in-class biological tool that allows it to create the building blocks to develop its new sustainable ingredients.

2) Grow:Bot: a dependable, programmable, and scalable robotics, enabling the manipulating and analysis of tens of thousands of bacteria variations each month.

3) ML:Bridge: twig’s AI connects the dots across the ever-growing standardised and formatted data library generated by Bio:Builder and Grow:Bot. ML:Bridge reviews production yields against target thresholds and recommends pathway improvements.

Since its beginnings in late 2022, twig has already tested thousands of strains through their automated platform in just five short months in the lab.

On why we invested, our Partner Tom Wilson comments:

“We believe the timing is perfect for seeing a real breakthrough in bioengineered products due to advancements in AI and automation. The Twig team have the perfect combination of technical and domain expertise to make their vision a reality and we’re thrilled to have the opportunity to partner with them.“

We are excited to participate in twig’s £3 million seed round, alongside Project A, Zero Carbon Capital, UK Innovation and Science Seed Fund, Gaingels, and expert angels.

For more information, visit twig.bio.

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KKR Provides £75 million Financing Facility to TalkTalk

KKR

NEW YORK & LONDON–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that funds and accounts managed by its credit business have agreed to provide a £75 million non-recourse financing facility to TalkTalk, a leading value for money connectivity provider in the UK. The facility, which is collateralized by certain accounts receivables originated by TalkTalk and its subsidiaries, replaces a prior £75 million financing facility, which matures in September 2023.

The new facility will give TalkTalk access to additional liquidity for a term of approximately three years.

“We are pleased to use our experience in receivable financing globally to support TalkTalk with capital that will help the company continue to grow and connect consumers and businesses across the United Kingdom,” said Giacomo Picco, a Managing Director at KKR.

Demica served as advisor to TalkTalk and will act as the reporting and calculation agent for the program.

About KKR

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

About TalkTalk​ Group

TalkTalk is the UK’s leading value for money connectivity provider. It believes that simple, affordable, reliable and fair connectivity should be available to everyone.

From its HQ in Salford, TalkTalk is rolling out the UK’s latest fibre technology, bringing 100% full fibre directly into homes and businesses across Britain.

KKR Americas:
Julia Kosygina
+1 212-750-8300
Media@kkr.com

KKR EMEA:
Annabel Arthur
+44 20 7839 9800
kkrpr-uk@kkr.com

Source: KKR

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Jeito Capital co-leads eur 65 million (USD 71 MILLION) financing in Corteria Pharmaceuticals, a French Biopharmaceutical company

Jeito Capital
  • Jeito Capital co-leads oversubscribed financing
  • Corteria, a late preclinical stage company, is developing first-in-class therapies with promising novel approaches for unaddressed heart failure subpopulations, addressing high unmet medical needs
  • Jeito Capital marks its first investment in the cardiovascular space, further diversifying its strong portfolio

Paris, France, September 7th 2023 – Jeito Capital (“Jeito”), a global leading investment firm dedicated to healthcare and biopharma, announced today that it is co-leading a EUR 65m (USD 71m[1]) Series A financing round in Corteria Pharmaceuticals (“Corteria” or the “Company”), a biopharmaceutical company specialized in the development of transformative therapies for unaddressed heart failure subpopulations.

The oversubscribed financing was co-led by new investors Jeito and Orbimed, with participation from existing investors Kurma Partners, Fountain Healthcare Partners, V-Bio Ventures, Invivo Capital, and Omnes Capital.

Corteria was founded in 2021 by Sanofi’s former head of cardiovascular research, Philip Janiak and Marie-Laure Ozoux, former cardiovascular project leader at Sanofi, around two cardiovascular programs in-licensed from Sanofi[2].

Proceeds from the financing will be used to advance the Company’s heart failure pipeline into the clinic.

Since its inception, Corteria’s pipeline has expanded rapidly and comprises today three first-in-class therapies:

  • A once-daily subcutaneous CRF2[3] agonist for the treatment of Worsening Heart Failure. It is anticipated that Corteria will bring this lead asset, into clinical trials to validate the treatment pathway in early 2024.
  • A once-monthly subcutaneous CRF2[3] agonist, specifically developed for Right Heart Failure treatment. This compound also holds potential for broader applications in chronic cardiometabolic diseases, particularly those with coexisting conditions such as obesity and sarcopenia.
  • An AVP (arginine vasopressin) neutralizing monoclonal antibody for the treatment of Acute Heart Failure with Hyponatremia.

Jeito Capital has partnered with Corteria Pharmaceuticals, reflecting its vision to champion promising French and European biopharma companies with the potential to become global market leaders especially in Europe and the US. This collaboration marks Jeito’s first investment in the cardiovascular space, where emerging innovations and a supportive regulatory environment offer transformative potential for patient outcomes. Andreas Wallnoefer, Partner at Jeito Capital and with strong industry experience in the cardiovascular field, will join Corteria’s Board of Directors.

Dr. Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, commented: “With our first investment in the cardiovascular field, we are partnering with Corteria Pharmaceuticals, a French company with a global vision to address well-defined sub-populations of heart failure, with an urgent need for new and effective treatments. Corteria’s strong pipeline of assets, backed by a dedicated and highly experienced team with a proven track record in cardiovascular development, represents an exciting opportunity to expand treatment options. Their commitment to transformative therapies as a leading French biopharma with global aspirations perfectly aligns with Jeito’s mission, and we see great potential to make a meaningful difference in patient lives.”

Andreas Wallnoefer, Partner at Jeito Capital added: “Despite current treatments, heart failure is a progressing disease that impacts severely the lives of many patients and remains one of the leading causes of mortality worldwide. Corteria focuses on translating important therapeutic innovations in cardiology into clinical practice. Our investment in Corteria reflects Jeito’s commitment to address significant unmet needs in the realm of cardiology. We are excited to join forces with Corteria’s dedicated team to develop a portfolio of medicines with important clinical benefits for patients.”

“This financing marks a major milestone in our mission to bring therapies to heart failure subpopulations with high unmet needs,” said Philip Janiak, Founder and CEO of Corteria Pharmaceuticals. “We are extremely grateful to Jeito and OrbiMed as our new investors for their trust in our science and team and to our existing investors for their support and commitment since inception. We are looking forward to working all together to develop next generation transformative therapeutics.”

About Jeito Capital

Jeito Capital is a global leading Private Equity company with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito Capital has €534 million under management and a rapidly growing portfolio of investments. Jeito Capital is based in Paris with a presence in Europe and the United States.

For more information, please visit www.jeito.life or follow us on Twitter or LinkedIn.

About Corteria Pharmaceuticals

Founded in 2021, Corteria Pharmaceuticals is a privately held biopharmaceutical company developing first-in-class drugs in heart failure subpopulations. Despite some improvements in the management of this serious disease, the prevalence of heart failure keeps increasing with more than 60 million patients worldwide. Corteria’s strategy implies innovative patient stratification and target selection based on human evidence and a better understanding of the disease biology in patients with a focus on worsening and acute heart failure and right heart failure.

More information available at: www.corteriapharma.com

[1] Applying an 1.0886 EUR/USD exchange rate as of 30 August 2023 (Banque de France) rounded to $71m

[2] CRF2 peptide agonist and AVP neutralizing monoclonal antibody programs

[3] Corticotropin-releasing hormone receptor 2

For further information please contact:

Jeito Capital
Rafaèle Tordjman
Assia Mouhout, EA
assia@jeito.life
Tel: +33 6 76 49 37 94

Maior
Stéphanie Elbaz
stephanie.elbaz@maior-conseil.com
Tel: +33 6 46 05 08 07

Consilium Strategic Communications
Mary-Jane Elliott /
Davide Salvi / Kris Lam
Jeito@consilium-comms.com
Tél. : +44 (0) 20 3709 5700 

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ASSA ABLOY acquires Lawrence Hardware and Gallery Specialty in Canada

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ASSA ABLOY has acquired Lawrence Hardware and Gallery Specialty, leading providers of commercial hinges, locksets, exit devices and door hardware accessories in Canada.

“I am very pleased to welcome Lawrence and Gallery into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business,” says Nico Delvaux, President and CEO of ASSA ABLOY.

“Lawrence and Gallery are well-known, respected brands in Canada and I’m excited for them to become part of ASSA ABLOY,” says Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. “This acquisition supports our growth ambitions and commitment to the Canadian market by further strengthening our core business and expanding our product portfolio.”

Lawrence Hardware was founded in 1876 and Gallery Specialty in 1989, together employing some 50 employees. The main office and factory are located in Toronto, Canada.

Sales for 2022 amounted to about MCAD 25 (approx. MSEK 200) with a good EBIT margin. The acquisition will be accretive to EPS from the start.

For more information, please contact:

Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68, e-mail: bjorn.tibell@assaabloy.com

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 52,000 employees and sales of SEK 121 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

 

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KKR Invests in Zenobē to Accelerate Global Transport Decarbonisation and Provide Essential Grid Services

KKR
  • KKR to invest approximately $750m to scale Zenobē across two of the largest decarbonisation market opportunities in infrastructure – fleet electrification and battery storage solutions
  • KKR and current majority shareholder, Infracapital, to become joint majority shareholders in a strategic partnership; Infracapital to reinvest into the business
  • Investment is the first through KKR’s global climate strategy, dedicated to scaling net-zero solutions and transitioning higher emitting assets

LONDON–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced it is investing approximately $750m to scale Zenobē, a market leader in transport electrification and battery storage solutions, to accelerate the global decarbonisation of diesel fleets and provide grid services that are critical for the decarbonisation of the energy sector.

Infracapital, the infrastructure equity investment arm of M&G Plc and current majority shareholder, will invest further alongside KKR and the management team, with KKR and Infracapital becoming joint majority shareholders. The transaction is subject to customary closing conditions and regulatory approvals.

KKR’s investment in Zenobē is the first to be made through the firm’s global climate strategy, which is part of KKR’s $54 billion global Infrastructure business and dedicated to investing in solutions at scale to support the transition to a low-carbon economy.

Founded in 2017 and headquartered in London, Zenobē is a global player in electrification solutions for fleets and battery storage solutions for grid network infrastructure, with leading positions in the UK, Australia and New Zealand, and a growing presence in continental Europe. Today, Zenobē is one of the leading fleet electrification platforms in the world, helping bus and increasingly HGV operating companies to decarbonise their fleets and meet emission-reduction objectives.

Zenobē’s EV fleet business provides end-to-end solutions to transition conventional internal combustion engine vehicles to electric, including financing of chassis, batteries on the vehicles, and charging infrastructure in depots, complemented with an integrated software solution. Through its network infrastructure business, Zenobē develops and builds large scale batteries that connect to transmission grids, providing essential grid services to complement the growth of intermittent low carbon energy generation and allowing economies to achieve their net zero ambitions, without compromising the grid stability.

Decarbonising transportation, reducing pollution in big cities and towns and meeting national net-zero targets will require substantial investment and a rapid shift to electric vehicles. The transport sector is the largest source of carbon emissions globally, resulting in tightening regulations related to emissions by public transport.

KKR plans to work with Zenobē to meet the growing demand for EV adoption from bus operators and other commercial fleet businesses globally. KKR also expects to help Zenobē expand its grid-scale battery storage capacity through the construction and expansion of new and existing sites. The investment will help Zenobē to build on its leadership positions in the UK, Australia and New Zealand, while continuing to grow across continental Europe, and also expand into North America.

Alberto Signori, Partner in KKR’s European Infrastructure team, said: “This is a rare opportunity to support a clear leader in transport decarbonisation and battery storage, two sectors which are critical in driving the transition to a net-zero world. As a significant contributor to the decarbonisation of our economies, Zenobē is an exemplary first investment in KKR’s global climate strategy which seeks to scale up businesses at the forefront of delivering real-world solutions to reduce carbon emissions. Zenobē’s management team and Infracapital have built a unique and hard to replicate global platform, and we look forward to working alongside them to further scale the business internationally.”

Shreya Malik, Director in KKR’s European Infrastructure team, added: “We believe Zenobē will continue to benefit from strong secular tail winds including stricter emission regulation in urban and regional areas, and the greater use of low carbon generation in the energy mix driving a need for grid balancing solutions. We see significant growth opportunities within Zenobē’s existing customer base, as well as huge potential in new markets globally. We are excited to bring our operational expertise within KKR’s global platform to actively support the company in continuing to further build a market leading and climate critical business.”

Nicholas Beatty, Co-founder and Director of Zenobē, said: “This investment acknowledges the significant role that transport decarbonisation and battery storage have to play in our net-zero future. It’s also a significant vote of confidence in our business, its achievements to date and future aims. Batteries are the under-recognised crucial component of our future energy and transport systems, and they’re available now. KKR provides Zenobē with a leading international strategic partner to support our expansion plans, taking our experience in accelerating the electrification of fleets and maximising the uptake of renewables into North America, Europe, Australasia and other markets. It also provides support for our ability to raise further debt funding for these expansion plans.”

Andy Matthews, Head of Greenfield at Infracapital, said: “Since our initial investment in 2020, Infracapital has supported Zenobē’s significant innovation and expansion as it has gone from strength to strength in both the battery storage and transportation sectors. We are delighted to announce our further investment into the business, and to embark on this exciting journey alongside KKR as joint shareholders in Zenobē. This strategic partnership marks a significant milestone for the business and fulfils our confidence in its ability to continue to play a leading role in sustainable solutions. We look forward to continuing to contribute our expertise and resources to support Zenobē’s further success on a global scale, whilst creating long-term value for our investors.”

With over 15 years of experience in infrastructure investing, and a long history in the industrials space, KKR has deep expertise in renewable energy and climate-related investments. Since 2010, KKR has committed more than $40 billion to sustainability-focused investments, including over $30 billion to climate and environmental sustainability investments, accelerating net-zero solutions such as X-Elio and Sol Systems, building out net-zero platforms in transportation with Q-Park and Ritchies, and driving transitions with investments including Albioma and ContourGlobal.

KKR has been investing in the UK for over two decades, having deployed almost $24 billion in equity across all investment platforms, including almost $5 billion in sustainability-related investments over the past 3 years in investments such as Citation, ERM, John Laing and Viridor.

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 X (formerly Twitter) @KKR_Co.

About Zenobē Energy Ltd. (Zenobē)

Zenobē is an EV fleet and grid-scale battery storage specialist, headquartered in the UK. The company began operations in 2017 with three founders and has over the past 6 years increased its staff to >230 FTEs with a wide range of leading skills including electrical engineering, software development, computer sciences and financing. It now operates in Europe and Australasia and is expanding into North America. Zenobē has 430MW of battery storage in operation or under construction with another 1.2GW of projects in advanced development in the UK which equates to circa 20% market share forecast by 2026. It has around 25% market share of the UK EV bus sector and c.1000 electric vehicles supported globally. The company is the largest owner and operator of EV buses in the UK, Australia and New Zealand.

Zenobe’s services are supported by market leading financing capability. This has included completing and drawing down against the Fleet private placement in February 2022 which raised over £240 million long term debt for the financing of Fleet customers, principally bus operators in the UK, over up to 16 years. This also included the financing of grid-scale batteries completed in February 2023 which raised £635m of debt including an accordion for the development of Zenobē’s grid-scale battery storage assets in Scotland.

For more information, please visit www.zenobe.com/ or follow on LinkedIn.

About Infracapital

Infracapital invests in, builds and manages a diverse range of essential infrastructure to meet the changing needs of society and support long-term economic growth. We take an active role in all of our investments, whether nascent or large, to fulfil their potential and ensure they are adaptable and resilient. Our approach creates value for our investors, as we target investments with the scope for stable and sustainable growth. Our portfolio companies work closely with the communities where they are based, to the benefit of all stakeholders. Infracapital is well positioned to deliver the significant investment required to help build the future. The founder-led team of experienced specialists has worked with more than 60 companies around Europe and has raised and managed over €7.8 billion of client capital across six funds. Infracapital is part of M&G Plc, an international savings and investments business, managing money for around 5 million retail customers and more than 800 institutional clients in 28 markets. Total assets under management are £342 billion (as at 31 December 2022). https://www.infracapital.co.uk/

KKR
Alastair Elwen
FGS Global
T: +44 20 7251 3801
E: KKR-Lon@FGSGlobal.com

Zenobē
Beth Townsend
Hill + Knowlton Strategies
T: +44 7510 768007
E: Zenobē@hkstrategies.com

Infracapital
Colette Cahill
T: + 44 7500 547034
E: Infracapital@teneo.com

Source: KKR & Co. Inc.

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Groupe Sinari announces Bridgepoint Development Capital as new majority shareholder

Bridgepoint

Groupe Sinari, a French publisher and leader in software solutions for the road haulage and logistics sector, is pursuing its ambitious development strategy. With 260 employees and offices in France and Belgium, Sinari supports its customers in the transport and logistics sectors, helping them meet the challenges of tomorrow.

With revenues amounting to almost €40 million and more than 6,000 customers, Sinari opted for a new LBO in which Bridgepoint Development Capital (BDC) acquired a majority stake, alongside its existing shareholders (New Alpha Verto and its management).

Groupe Sinari is positioned in a particularly buoyant software publishing market, mainly addressing the transport and logistics industries:

  • The breadth of Sinari’s offering enables them to address both small companies with flexible, easy-to-use solutions, and large international transport groups.
  • Sinari and its subsidiaries offer a complete range of Transport Management Systems (TMS), Fleet Management Systems (FMS), Onboard Computing and Social Management, Warehouse Management Systems (WMS), Route Optimisation, Garage Management and Career Management.
  • Demand is increasing in certain verticals, notably as a result of regulatory changes.
  • The digitisation of data exchanges between players in the supply chain eco-system (shippers, logistics providers and carriers) is accelerating and becoming a driving force behind market development.
  • In addition, the Covid-19 crisis and the rise of e-commerce have highlighted the importance for all companies to control their logistics flows.

 

The company, born of the merger of OMP and GPI in 2019, has thus enjoyed significant growth in recent years following successive acquisitions that have enabled the group to strengthen its core market (TMS, telematics and WMS) and expand into new geographies (Benelux). The company is the market leader in France, and very well positioned to continue consolidating the European market. To achieve this, Sinari has chosen to enter into a partnership with Bridgepoint – notably due to its extensive experience in this field, thanks to its investments in Memnon Networks (TMS) and more recently PTV (traffic management solution). BDC will support the group in accelerating its international development and developing in new vertical markets.

Sébastien Rufflé, CEO of Groupe Sinari, comments:

“My team and I are delighted to have Bridgepoint Development Capital join us. It is a partner who shares our vision of the market and supports the project we launched five years ago. We are convinced that the digitalization of supply chain operating methods is a driving force for simplifying exchanges and making them more responsible. We are already a major player in this transformation in France, thanks to the experts in the transport sector that have joined the Group over the years. We must continue to develop this knowhow, but also extend it to other geographies to support this transformation that transcends borders. That is what this new partnership is all about”.

Thomas Moussallieh, Bridgepoint Development Capital Director, comments:

“We are delighted to have the opportunity to support the Sinari teams in their ambitious European development project, which is at the heart of BDC’s strategy, in particular to support a software leading player in its segment. In addition to the company’s market potential and its leading position in France, we were quickly won over by Sébastien and his team: his vision of tomorrow’s challenges and his determination to anticipate the changes taking place in the world of software for carriers convinced us to get on board this ambitious project. We are also particularly sensitive to the projects of companies supported by our investments, and Sinari’s project to reduce CO2 emissions, thanks to its telematics and route optimisation solutions, echoes the values we support”.

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