Category Archives: News

Protix joins forces with Tyson Foods securing new funding for the next step in its growth phase

Rabo Investments

Tyson Foods invests in Rabo Investments portfolio company Protix in new capital round to significantly scale its production capacity and expand globally. Oct. 17, 2023 – We are proud to announce that our portfolio company Protix, a leading Dutch company in insect-based ingredients, has entered into a strategic partnership with Tyson Foods, one of the world’s leading food companies.

An important milestone for Protix and the insect industry! With this capital round we welcome Tyson Foods, a listed multinational, protein-focused food processing company based in the US and customer of Rabobank, as new investor to the group of existing shareholders. We are excited about this partnership, which also includes the formation of a joint venture to build an insect ingredients plant in the United States. In addition, Tyson Foods is investing in Protix to help accelerate their global expansion plans. This major capital injection underlines the progress and continued long term potential of Protix and will be used to further strengthen and optimise the organisation, make the necessary steps to advance commercial traction and accelerate (international) growth. Protix is a producer of insect protein and fats from the Black Soldier Fly. These insect ingredients offer nutritious and sustainable inputs for pet food, aqua culture and livestock feed and organic fertilizer. Insect ingredients are so green because of their circular nature: Insects are fed with local food waste streams and the mature insects are in turn upscaled into high value ingredients. The substrate in which the insects are farmed is subsequently used as fertiliser, thus completing a circular and sustainable way of food and feed production.

This partnership offers an opportunity for Tyson Foods to deploy its waste streams in a commercial way and acquire broader expertise in the alternative protein market. For Protix it is the outstanding opportunity to further build scale in partnership with a major player that has the necessary funding and access to the US market and their customer base. Protix has been a long time banking relationship of Rabobank, as we have supported the company from its earliest beginnings back in 2009.

Rabo Investments became shareholder of the company in 2019, on the back of its growth potential and the clear links with two of our core investment pillars: Food & Agri and Sustainability. As a committed shareholder, Rabo Investments is also participating in the capital raise and will remain actively involved to help the company meet the short-term challenges and opportunities associated with an ambitious growth agenda.

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OSI Group and Egeria have reached agreement for the sale of IQI to OSI Group

Egeria

OSI Group (“OSI”), the premium global supplier of custom value-added food products to
the world’s leading foodservice and retail food brands, and Egeria Private Equity (“Egeria”),
a leading investment company in the Netherlands and the DACH region, are pleased to
announce the agreement for the sale of IQI (International Quality Ingredients), a
Netherlands-based, global provider of premium petfood ingredients, to OSI.

IQI will provide OSI with broader and integrated capabilities in the global petfood market
whilst benefitting from the opportunity to leverage OSI’s extensive supply chain network to
reach new geographies, develop additional supplier relationships and create unique,
innovative, premium animal protein and vegetable ingredients for petfood.

Mark Oostendorp, CEO of IQI, along with the IQI management team, look forward to
partnering with OSI leadership, stating, “This acquisition will greatly benefit our supply
partners and customers. OSI’s drive to provide any solution needed for their customers is
exactly how IQI has been developing solutions for our suppliers and customers in the
petfood space. The enormous OSI network and capabilities gives IQI the opportunity to
become a global leader of animal products and vegetables. This is like a playground for our
team, and we are excited to co-create new solutions for our suppliers and customers.”
“This partnership more closely connects OSI’s extensive industry relationships and animal
protein and vegetable capabilities directly to IQI’s customers.” said Mark Richardson, Senior
Executive Vice President, OSI International. “OSI welcomes IQI to the global OSI family
and looks forward to partnering with IQI to create new and innovative ingredients that
deliver unique solutions for their customers.”

Simone Poelen, Investment Manager at Egeria stated, “We would like to thank Mark,
Lennard and the entire IQI organization for the enjoyable and entrepreneurial partnership
over the past six years. Working together with our co-shareholders, founder Sven
Gravendeel and SAPI S.p.a, was a great experience. We are proud that we have been able
to support IQI in its transformation from a specialized trading company to becoming a
critical link in the petfood value chain and a frontrunner in sustainable ingredients and
animal welfare. With this solid foundation in place, we are confident that IQI will develop
further by leveraging the global scale, customer relations, manufacturing assets and
suppliers of OSI.”

About IQI
IQI, headquartered in Amersfoort, Netherlands, was founded in 1994 as a trading company
specializing in the supply of proteins to the petfood and livestock feed industries. Today,
IQI is a global industry partner that specializes in petfood claim and functional ingredients
across 10 different categories including animal protein, high omega 3 fish oil, vegetable,
and novel ingredient categories such as algae and fermented soy. The company offers
dedicated solutions for the entire process from sourcing ingredients to co-development of
sustainable concepts, technical service support, quality checks and improvement,
warehousing, logistics, and distribution to 60 countries around the world.

About OSI
OSI Group, LLC is a 100-plus year old, privately held company that is a global leader in
supplying value-added beef, poultry, pork, vegetable, and other food products to leading
global brands. The company currently has 65 facilities/offices in 17 countries covering 5
continents, with its global headquarters located in Aurora, Illinois, a suburb of Chicago.

About Egeria
Egeria is a leading investment company in the Netherlands and the DACH region, employing
over 75 people directly in five locations, with annual sales of around €2.5bn, providing
employment for almost 12,500 people and building on and investing in great places to live
and work through our investments together with management teams.

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KKR And Etche Complete The Acquisition Of Over 160,000 Square Meters Of Logistic Properties In France From Ivanhoé Cambridge

KKR

Transaction is KKR’s first in France via its Core+ real estate strategy, and fourth for the strategy in Europe this year following UK, Finland and Sweden acquisitions

 

Paris October 19th, 2023 – KKR and Etche, KKR’s logistics real estate platform in France, today announced the acquisition of the SCOTT logistics portfolio from Ivanhoé Cambridge, comprising five buildings with a total area exceeding 160,000 square meters. These assets, two of which have just been completed, are strategically located in prime logistics zones in the ‘Dorsale’ on the outskirts of Lyon, Grenoble, Orléans, Compiègne and Strasbourg. The buildings are fully occupied by quality anchor tenants on long-term leases.

The acquisition continues Etche’s strategic focus on the logistics sector and is KKR’s first transaction in France through its European Core+ real estate strategy, which focuses on investing in high quality, substantially stabilised assets with medium-term value growth potential.

“The acquisition of this portfolio is a clear demonstration of our ability to swiftly execute significant deals in a challenging market environment, thanks in large part to the reinforcement of our teams with Joffrey Houdoux (Investment Manager) and Julien Chevrier (Chief Administrative and Financial Officer) who joined the firm this year. This strategic portfolio combines strong fundamentals and significant potential for value appreciation, which will allow us to navigate the current period with confidence. It serves as an excellent foundation upon which we can soon aggregate new buildings of similar quality,” said Vincent Lauret, President of Etche.

 

“This first acquisition through our Core+ strategy in France reflects our desire to acquire a quality portfolio for the long term, particularly in the logistics sector. We expect that the sector fundamentals will continue to be very positive for the years to come, particularly given the lack of future supply in France, which should continue to benefit owners of existing, quality assets,” commented Mai-Lan de Marcilly, Managing Director and Head of Transactions France & Hotels at KKR.

 

“This transaction is exemplary of our broader ambition in France and regionally – to invest in high-quality assets in prime locations and with strong fundamentals, and where we have the potential to drive value. The collaboration with Etche in France has created a strong basis for our team to invest behind the themes that we like, particularly logistics which is benefiting from the rise in e-commerce penetration rates and on-shoring of supply chains. We’re delighted to have expanded the portfolio into France and look forward to building further on this,” continued Ian Williamson, Managing Director and Head of Core+ Real Estate in Europe at KKR.

 

“We are delighted to have successfully and seamlessly concluded the sale of these five assets from our Hub&Flow logistics platform to KKR-Etche. This transaction is the result of our asset management efforts and enables us to recycle our capital in the logistics market. We remain convinced of the logistics sector’s resilience, and this sector will continue to be a strategic priority for us over the long term through the growth of the Hub&Flow platform in Europe along main logistics corridors,” added Maud Wargny, Senior Director, Investments, Europe, at Ivanhoé Cambridge.

KKR is an active investor in logistics real estate across Europe and has a strong track record of investing across real estate sectors in France. The Etche platform currently owns and operates a portfolio of over fifty logistics and light industrial properties across the country. This latest acquisition builds on the regional expansion of KKR’s Core+ strategy since launching in 2022, following acquisitions in Sweden, Finland and the UK earlier this year across logistics, residential and student housing, and in logistics in the Netherlands last year.

CA-CIB provided funding for the operation through a structured financing arrangement in the form of a green loan.

About Etche

Founded in 2010, Etche is a privately-owned French real estate company. A portfolio company of global investment firm KKR, Etche also carries out asset management assignments on behalf of real estate investors. With a portfolio of around fifty assets across France in the corporate real estate sector (business parks, industrial, and logistics properties), Etche is currently undergoing a strategic shift to prioritise logistics-oriented real estate through divestitures or the acquisition of existing or planned properties. With a strong ESG (Environmental, Social, and Governance) strategy, the company has launched an ambitious decarbonization plan for its portfolio, encouraging its suppliers and employees to identify innovative and more environmentally friendly solutions.

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 @KKR_Co.

 

About Ivanhoé Cambridge

Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.

Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in 1,500 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$77 billion in real estate assets as of December 31, 2022, and is a real estate subsidiary of CDPQ (cdpq.com), a global investment group. For more information:  ivanhoecambridge.com.

MEDIA CONTACTS

ETCHE

Treize Cent Treize

Aurélie Caron / Lou Girault-Solal / Alain N’Dong – +33 1 53 17 97 13 – Presse_Etche@1313.fr

KKR

FGS Global

Alastair Elwen / Sophia Johnston – KKR-Lon@FGSGlobal.com – Tel: +44 (0) 20 7251 3801

IVANHOE CAMBRIDGE

Galivel & Associés

Carol Galivel / Sébastien Matar – + 33 1 41 05 02 02 – galivel@galivel.com

   Thomas Carlat – Ivanhoé Cambridge – +33 6 73 46 00 97 – thomas.carlat@ivanhoecambridge.com

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Ardian innovates with pioneering semiconductor investment platform

Ardian

Pioneering private equity investment platform dedicated to the semiconductor industry that will invest across the value chain focusing on Europe, with a unique approach combining Ardian’s expertise and world-class semiconductor leaders.

Ardian, a world-leading private investment house, today announces that it is expanding into semiconductor investment with the launch of Ardian Semiconductor. This innovative platform will invest across the semiconductor value chain with a focus on Europe and will enable companies to grow into global leaders in their markets.

Semiconductor devices are pervasive in the world economy and are the critical enablers of the digital transformation and green transition of key sectors, such as data infrastructure, mobility, industrial and consumer. Following several decades of consistent mid to high single digit growth, industry analysts believe the semiconductor industry will continue to grow and reach $1 trillion by 2030, driven by predictable megatrends such as artificial intelligence, cloud computing, electrification and automation of mobility and industry, or smart & connected devices.

Europe is one of the most attractive regions to invest in the coming decade. European companies in the value chain are global leaders in semiconductors for the mobility and industrial end-markets that are experiencing rapid technological transformation and expected to grow the fastest. Europe also leads through its innovation ecosystems, IP, specialized equipment and materials companies, that underpin major megatrends such as the artificial intelligence revolution. Europe leverages strong foundations and attractive government incentives, including the €43 billion European Chips Act, to strengthen its leadership and benefit from an increased regionalization of the global supply chain.

Ardian Semiconductor aims at becoming the partner of choice of the European semiconductor value chain, bringing innovative and flexible capital solutions, as well as strategic and operational expertise, to companies with the potential to enable megatrends leveraging their distinctive technologies.

Ardian is launching the Ardian Semiconductor platform through an exclusive strategic partnership with Silian Partners, a team of highly successful senior executives from the semiconductor industry with more than 115 years of combined experience in the space, bringing unique industry relationships, strategic vision, and operational focus. Ardian and Silian Partners will work as One Team, and will bring together Ardian’s proven and successful private equity capabilities and investment processes with unparalleled industry leadership and expertise.

Ardian Semiconductor is managed by Ardian France. Silian Partners assists Ardian as an industry expert.

Ardian Semiconductor will be powered by a detailed analysis of technology megatrends and their implications across the semiconductor value chain. The team will work together to identify attractive opportunities, carry out expert due diligence, and work closely with entrepreneurs and management teams to define strategic roadmaps and execute.

This expansion builds on Ardian’s track record of investing in attractive high-growth sectors, in addition to its flagship investment activities.

“Semiconductors are everywhere and enable the world’s digital transformation and green transition. As demand for semiconductors is expected to more than double over the next decade, a whole supply chain needs to scale and bring continued innovation, including countless European mid-sized companies. We’re assembling a unique team with tremendous experience and track-record, and I can’t enjoy more than welcoming Paul, Christophe, Helmut and Thomas. It’s therefore the perfect time to launch Ardian Semiconductor, leveraging Europe’s leading positions in critical segments of the semiconductor value chain. Building on Ardian’s proven track record as a global private investment leader, the platform will bring innovative capital solutions to this strategic value chain at a pivotal moment, working alongside world-class industry leaders.” Thibault Basquin, Member of the Executive Committee, Ardian

“We are delighted to partner with Ardian, who perfectly understand the unique opportunity to address a critical need of the European semiconductor value chain and become its financial sponsor of choice. Through a bespoke strategic partnership, we bring together in One Team seasoned private equity investors, proven investment processes, and successful semiconductor leaders. Ardian is the ideal firm with the right people and culture to build this first-of-its-kind investment platform together. As we initiate dialogues with companies and entrepreneurs, we have confirmation that we enable solutions for the industry that do not exist today and that our approach will create significant value across the board.” Paul Boudre, Senior Managing Director & Co-Founder of Silian Partners

Silian Partners is led by:

  • Paul Boudre, Senior Managing Director & Co-Founder, who brings c.35 years of semiconductor experience. As Chief Executive Officer of Soitec from 2015 to 2022, he successfully led the company through a restructuring and positioned it as a global leader of engineered semiconductor materials. Prior to Soitec, he held senior positions in semiconductor equipment and manufacturing with KLA, STMicroelectronics, IBM Microelectronics, Motorola Semiconductor and Atmel.
  • Christophe Duverne, Senior Managing Director & Co-Founder, who has been a semiconductor and electronics executive for the past c.30 years. He was President and Chief Executive Officer of Linxens from 2010 to 2020, which he founded from a corporate carve-out, and led through two successful buyout transactions sponsored by CVC, Astorg and Bain Capital, to create a global leader in smart card components manufacturing. Prior to founding Linxens, he worked for over 10 years at NXP Semiconductors where he was Senior Vice President of the Identification business unit.
  • Dr Helmut Gassel, Senior Managing Director & Co-Founder, who contributes c.30 years of semiconductor industry experience. He served as a member of Infineon’s Management Board as Chief Marketing Officer from 2016 to 2022 with responsibilities encompassing marketing, sales, strategy and M&A. In this capacity, he led the €9bn acquisition and integration of Cypress Semiconductor and contributed to transform Infineon into a global top 10 semiconductor company. Prior to joining Infineon in 1995 as a semiconductor design engineer, he worked in semiconductor research at Fraunhofer Institute
  • Thomas Pebay-Peyroula, Managing Director & Co-Founder, who brings c.15 years of investment banking experience and has advised many European semiconductor companies on strategic, M&A and financing matters. He is joining from Rothschild & Co, and started his career with Lazard.

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $156bn of assets on behalf of more than 1,470 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 16 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

PRESS CONTACT

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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aPriori Receives Growth Investment from Vista Credit Partners for its Manufacturing Insights Platform

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Vista Equity

CONCORD, Mass.–(BUSINESS WIRE)–aPriori today announced a growth investment from Vista Credit Partners, a subsidiary of Vista Equity Partners and strategic financing partner focused on the enterprise software, data, and technology markets. The funding will be used to support continued innovation and meet growing demand for aPriori’s cloud-based solution, which empowers manufacturers and product designers to accurately estimate, manage, and optimize production costs and sustainability.

“Vista Credit Partners is proud to support innovative enterprise software companies like aPriori with flexible capital solutions and operational support to further establish market leadership”

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“The aPriori Manufacturing Insights Platform helps manufacturing executives transform their businesses by simulating the digital impact that new and existing product designs will have on cost as well as carbon emissions, manufacturability, supply chain availability, and other attributes,” said Stephanie Feraday, aPriori President and Chief Executive Officer. “Vista Credit Partners provides us with resources and expertise to help drive our continued success.”

Rising material and energy costs, supply chain instability, and an evolving regulatory environment make it difficult for manufacturing leaders to optimize production costs and sustainability efforts. The aPriori Manufacturing Insights Platform helps meet these challenges by connecting teams and their product data – including design and cost engineering departments, sourcing and procurement teams, sustainability groups, and suppliers. This provides an end-to-end solution to automate product manufacturing cost estimations to increase profitability while mitigating downstream production issues and time-to-market delays.

Leading global manufacturers including Carrier, Boeing, Danfoss, GE Appliances, Thales, Vestas, Navistar, and Toyota trust aPriori to drive product design efficiency and cost savings.

“Vista Credit Partners is proud to support innovative enterprise software companies like aPriori with flexible capital solutions and operational support to further establish market leadership,” said David Flannery, President, Vista Credit Partners. “aPriori is providing manufacturers with valuable insights to make impactful business decisions, and we look forward to supporting the company in its next phase of growth,” added Pete Fisher, Managing Director, Vista Credit Partners.

To learn more about aPriori, view our customer case studies and register for our Manufacturing Insights Conference (MIC), November 6-8, 2023, at the Hyatt Regency Grand Cypress in Orlando, Florida. This year’s conference will address how manufacturers use digital transformation across product design, manufacturing processes, and production to develop more profitable and sustainable products.

About aPriori

aPriori provides a unique, end-to-end digital twin solution that empowers manufacturers to unlock and identify new opportunities rapidly for innovation, growth, cost savings, and sustainability. With aPriori, customers achieve a ~600% ROI within three years and payback within six months of adopting our software platform. And companies use our automated manufacturing insights to eliminate product cost, improve productivity, and reduce their products’ carbon footprint. aPriori also boosts manufacturers’ digital thread investments to deliver business value at scale, increase agility, and minimize risk. To learn more about aPriori’s cloud and on-premise solutions, visit www.apriori.com.

aPriori on LinkedIn
aPriori on YouTube
aPriori Blog

About Vista Credit Partners

Vista Credit Partners is the credit-investing arm of Vista Equity Partners and is a strategic investor and financing partner focused on the growing enterprise software, data, and technology market. Vista Credit Partners employs a highly disciplined approach to credit investing while maintaining flexibility to pursue investments offering the best relative value and investing across the capital structure. As of June 30, 2023, Vista Credit Partners has grown to over $7.7 billion of assets under management. Since its formation in 2013 and as of September 30, 2023, Vista Credit Partners has deployed over $11 billion. For more information, please visit www.vistacreditpartners.com.

Vista Credit Partners offers solutions tailored to strategic objectives with growth-friendly terms and long-term investment horizons across both the private and broadly syndicated markets, sourcing deals directly from founder-led companies, through sponsor relationships, and from its deep network of experts, advisors, and other intermediaries to support growth and unlock value through creative capital solutions and operational partnership. Vista Credit Partners has completed more than 560 software and technology transactions since its inception.

aPriori and aPriori Technologies are registered trademarks of aPriori Technologies Inc. All other trademarks, registered trademarks, or service marks belong to their respective holders.

Contacts

aPriori Media Contact
Alex Wallace
Associate Director of Public Relations
aPriori
awallace@apriori.com
978.451.7687

Vista Credit Partners Media Contact
Brian Steel
media@vistaequitypartners.com
212.804.9170

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KKR Closes Third Tech Growth Fund At Nearly $3 Billion

KKR

Latest Fund Represents KKR’s Largest Commitment to the Technology Growth Equity Sector

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the final close of KKR Next Generation Technology Growth Fund III (“NGT III” or the “Fund”), an approximately $3 billion fund focused on investing in leading growth technology companies across North America, Europe and Israel.

NGT III is the successor to the firm’s NGT I and NGT II growth funds. It continues KKR’s strategy of supporting high-growth technology companies by providing equity capital and access to the firm’s global capabilities and network.

The new fund comes at a time of accelerated digital transformation within enterprises globally, the next evolution of AI applications and the increasing adoption of technology in consumers’ daily lives. This has created an environment that will enable many new growth technology companies to emerge and scale.

“Even in challenging market environments, focusing on investing in technology that solves for the real needs of companies creates a long-term opportunity for performance. We’ve seen firsthand that innovation is a critical driver of investment returns,” said Dave Welsh, KKR Partner & Global Head of Tech Growth. “With the new fund, we are deepening our commitment to investing in leading companies that are advancing digital transformation by helping businesses operate and serve their customers better, and more securely.”

“KKR’s deep network of global resources has made us a partner of choice for some of the most innovative technology companies in the world, and our experience in the space has demonstrated a proven ability to add value and scale growing businesses,” said Jake Heller, Partner & Head of Tech Growth, Americas.

“Innovation across verticals coupled with organizations’ increasing reliance on technology has created an environment that is ripe for entrepreneurs to build sustainable and attractive business models. We see significant opportunity to continue partnering with the entrepreneurs leading these businesses and helping them achieve their growth ambitions,” said Stephen Shanley, Partner & Head of Tech Growth, Europe.

The Fund received strong support from a diverse group of both new and existing investors globally, including public pension plans, sovereign wealth funds, insurance companies, financial institutions, endowments, private wealth and fintech platforms, family offices and high-net-worth individual investors. KKR will be investing approximately $435 million of capital in the Fund alongside investors through the Firm’s balance sheet, affiliates and employee commitments.

KKR has established a proven track record of supporting technology-focused growth companies, having invested over $21.6 billion in related investments since 2014 and built a dedicated global team of more than 35 investment professionals with deep technology growth equity expertise. The Firm has executed several transactions as part of its tech growth strategy, including DarkTrace, KnowBe4, 09, Onestream, OutSystems, NetSPI and Restaurant365.

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:
Liidia Liuksila
212-750-8300
media@kkr.com

Source: KKR

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CIRCOR International Announces Completion Of Acquisition By KKR And Welcomes Dan Daniel As Board Chair

KKR

NEW YORK & BURLINGTON, Mass.–(BUSINESS WIRE)–CIRCOR International, Inc. (“CIRCOR” or the “Company”), one of the world’s leading providers of mission critical flow control products and services for the Industrial and Aerospace & Defense markets, today announced the successful completion of its acquisition by investment affiliates of KKR for $56.00 per share. As a result of the completion of the transaction, CIRCOR common stock has ceased trading and will no longer be listed on the New York Stock Exchange.

“Today marks an exciting new chapter for CIRCOR,” said Tony Najjar, President and Chief Executive Officer of CIRCOR. “KKR’s exceptional track record in the flow control space and commitment to invest in employees makes them a perfect strategic partner for our future. We look forward to working with KKR as we continue to grow, innovate, and improve CIRCOR for the benefit of our customers.”

In conjunction with the transaction close, Dan Daniel will assume the role of Chair of CIRCOR. “I am honored to be joining the Board of CIRCOR as Chair and admire the Company for its leadership in the flow control space,” said Mr. Daniel. “I look forward to working with CIRCOR’s talented team to take the business to new heights as a private company.”

Mr. Daniel has three decades of experience leading U.S. industrial companies. Prior to becoming a KKR Executive Advisor, he served as Executive Vice President at Danaher for numerous years, where he oversaw the Industrial Technologies, Life Sciences, Diagnostics and Dental segments. He also currently serves as Chair of Bettcher Industries and Therapy Brands.

KKR will also support CIRCOR in implementing a broad-based employee ownership program to allow all of its employees to have the opportunity to participate in the benefits of ownership of the Company. This strategy is based on the belief that employee engagement and a strong ownership culture are key drivers in building stronger companies. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-senior management employees across more than 35 portfolio companies.

The parties have selected Equiniti Trust Company, LLC as the paying agent for the merger consideration.

About CIRCOR International, Inc.

CIRCOR International, Inc. is one of the world’s leading providers of mission critical flow control products and services for the Industrial and Aerospace & Defense markets. The Company has a product portfolio of market-leading brands serving its customers’ most demanding applications. CIRCOR markets its solutions directly and through various sales partners to more than 14,000 customers in approximately 100 countries. The Company has a global presence with approximately 3,100 employees and is headquartered in Burlington, Massachusetts. For more information, visit the Company’s website at http://circor.com.

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.

Contacts

Media:

For CIRCOR:
Scott Solomon
Sharon Merrill Associates, Inc.
(857) 383-2409
CIR@investorrelations.com

For KKR:
Julia Kosygina
(212) 750-8300
media@kkr.com

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Ardian strengthens its commitment to Dedalus, driving the next phase of growth with a new investment and the appointment of a new Group CEO

Ardian

Ardian agreed to increase its stake in Dedalus to 92%, with founder Giorgio Moretti retaining a 6% stake in the Company and remaining board member.
• Alberto Calcagno appointed Group CEO and Andrea Fiumicelli made Chairman.

A consortium led by Ardian, a world leading private investment house, has agreed to acquire an additional 19% stake in Dedalus, a leading European player in the healthcare software industry, from founder Giorgio Moretti. Subject to customary authorizations by the competent authorities, upon completion of the transaction, the consortium led by Ardian will indirectly hold a 92% stake in the Company, with Moretti retaining a 6% stake and a seat in the board.

The agreement aims to support Dedalus through a new phase of expansion.

As part of this growth plan, Alberto Calcagno, former CEO of Italian ICT company Fastweb, which has seen significant constant growth over the past 10 years, has been appointed as new CEO, effective from October 18.

Andrea Fiumicelli, who has managed Dedalus over the last few years and contributed significantly to the company’s further development through several strategic M&A deals, has been appointed Chairman.

“Ardian is fully committed to supporting Dedalus throughout its next period of growth, in which it aims to serve its clients and deliver its mission of improving healthcare for over 500 million patients globally. Ardian and I want to thank Giorgio Moretti for his vision and execution since our initial investment”. Marco Bellino, Managing Director Buyout, Ardian

“After a long journey that began in Florence 40 years ago, the time has come for Dedalus to expand. This agreement will help the company to further invest in innovation, in line with our mission. Alberto Calcagno will bring strong skills and new energy to the Group’s operations and future strategic development. I will remain a shareholder in Dedalus, together with my longtime partner Three Hills, fully supporting the new CEO and the company’s project”. Giorgio Moretti, Founder, Dedalus

“I am very happy to join Dedalus to drive its ambitious growth plans. Today, the healthcare software industry is privileged to have the responsibility of leading on critical digital transformation to improve the well-being of millions of patients. Dedalus’ mission is to accelerate and deliver this change as soon as possible”. Alberto Calcagno, new CEO, Dedalus

“In the last four years we have successfully re-designed our software portfolio and established sales and delivery operations in 25 countries. This new governance structure strengthens our commitment to our mission and future clients. We aim to deliver faster innovation and high-quality services, be the best employer in the sector and serve our shareholders’ ambitions”. Andrea Fiumicelli, new Chairman, Dedalus

Ardian has invested in Dedalus in several stages since 2016, supporting a strong M&A strategy which has seen the Company become a pan-European leader in its sector.

ABOUT DEDALUS

Founded in 1982 in Florence by Giorgio Moretti, Dedalus Group is the leading healthcare and diagnostic software provider in Europe, supporting globally the digital transformation of 6700 Healthcare Organisations and 5700 Labs and Diagnostic centres worldwide, processing its solutions for more than 540 millions of population worldwide. Dedalus offer supports the whole continuum of care, offering open standards-based solutions serving each actor of the Healthcare Ecosystem to provide better care in a healthier planet. Life Flows through our software.

dedalus.com

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $156bn of assets on behalf of more than 1,470 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 16 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

PRESS CONTACT

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Ratos Company Semcon spins off its Product Information business area, introduces Aleido

Ratos

Semcon announces the successful spinoff of its Product Information business area, marking the official launch of new and stand-alone company Aleido. This strategic step has been taken to strengthen both businesses and to continue growing their offers, dedicated teams, and profitability.

The Product Information business area, with its 850 employees in five countries, is known for its expertise in creating user-friendly digital aftermarket solutions for complex products. As a global leader, it serves customers such as Volvo Cars, Tetra Pak, Alstom, AGCO, Jaguar Land Rover and Epiroc.

“At Ratos we are strong believers of a decentralised model and are convinced that it drives entrepreneurial spirit, growth and efficiencies. This move ensures that each company can follow its own independent growth journey and realise its true potential,” says Anders Slettengren, Chairman of the Board of Semcon and Aleido and Executive Vice President at Ratos.

Leaders in aftermarket information
Aleido specialises in both aftermarket information and learning solutions. Within aftermarket information, the company can draw on decades of experience and today support customers in five different markets. And thanks to recent acquisitions within learning, Aleido is the largest digital learning company in Scandinavia. Guided by its mission, ‘to make the advanced simply understood’, Aleido provides knowledge that bridges the gap between technology and people.

“This is a significant milestone, and we can proudly announce that the former Semcon business area, Product Information, is now a stand-alone company: Aleido. As we embark on this new journey, we’re eager to embrace the opportunities ahead with even more focus and dedication,” says Johan Ekener, CEO of Aleido.

A strategic technology partner
Semcon has more than 40 years of experience of product, production and service development. Going forward, it will pursue its strong position as an international technology partner for companies and organisations in transformation. With a unique offering combining engineering, digital excellence and sustainability know-how, Semcon’s experts and cross-functional teams makes its customers more competitive and improve the user experience and sustainability of their solutions.

“Every day, our experts add new perspectives that help create solutions that make a difference to people and the planet. With a more focused operation, we are now accelerating our combined offering to provide even greater customer value,” says Markus Granlund, CEO of Semcon.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21
Lena Söderholm, Chief Communication Officer, Aleido, +46 706 121 346
Kristina Ekeblad, Head of Communication and Marketing, Semcon,+46 704 130 926

About Ratos
Ratos is a business group consisting of 17 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 33 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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KKR To Invest In Life Sciences Firm Catalio Capital Management

KKR

KKR buys minority stake in Catalio and invests in its funds

Investment is additive to KKR’s existing health care growth strategy

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced an agreement to invest in Catalio Capital Management, LP, a multi-strategy investment firm focused on breakthrough biomedical technology and innovative health care companies. The addition of new capital is expected to accelerate Catalio’s growth trajectory and talent acquisition, as well as anchor its investment strategies. Pursuant to the agreement, KKR is acquiring a minority economic stake in Catalio and will invest in Catalio’s funds.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231017308280/en/

Henry Kravis, Co-Founder and Co-Executive Chairman of KKR, will be named as the Chairman of a new Board of Advisors for Catalio that will help guide the strategic growth of the business. Members of the Catalio Board of Advisors will include, among others, Alex Gorsky, the retired Chairman & CEO of Johnson & Johnson, Andrew Liveris, the retired Chairman & CEO of Dow Chemical Co., Dina Powell McCormick, the Vice Chairman & President of Global Client Services at BDT & MSD, and Tim J. O’Neill, a longtime Partner and retired Co-Head of Goldman Sachs Asset Management.

“The life sciences sector represents a growing market opportunity and has been an important area of focus for our health care growth strategy, which will be further accelerated through our partnership with Catalio. We are impressed not only by Catalio’s entrepreneurial leadership team but also by its vast network of leading scientists who serve as venture partners,” said Ali Satvat, Partner, Co-Head of Americas Health Care and Global Head of Health Care Strategic Growth at KKR. “We look forward to supporting Catalio in taking the platform to the next level and unlocking the next generation of biomedical technology.”

“We are grateful to KKR for its support, which we believe affirms the success of Catalio’s strategy and recognizes the value of our experienced life sciences investment team,” said George Petrocheilos and R. Jacob Vogelstein, Co-Founders and Managing Partners of Catalio. “KKR’s investment comes at an exciting time in Catalio’s development. We believe that we will now be even better positioned to empower the world’s most innovative clinical scientists to turn next-generation biomedical discoveries into valuable treatments and cures and create profitable, well-run companies that advance the boundaries of care.”

Following the completion of the transaction, Mr. Petrocheilos and Dr. Vogelstein will continue to own a controlling stake in Catalio, and the day-to-day management and operation of the Catalio business will remain the same.

KKR has a long track record of supporting health care companies globally, having committed over $20 billion to the sector since 2004. In the life sciences sector specifically, KKR has already committed well over $1 billion in capital from its health care growth strategy, including investments in BridgeBio Pharma, Dawn Bio and Treeline Biosciences, and will be funding this investment from its balance sheet. KKR’s health care growth strategy is focused on investing in high-growth health care-related companies to which KKR can be a unique strategic partner in helping reach scale.

Kirkland & Ellis LLP served as legal advisor to KKR. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to Catalio.

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 Catalio

Catalio Capital Management, LP, is a multi-strategy life sciences investment firm focusing on breakthrough biomedical technology companies developing the next generation of drugs, devices, diagnostics, and data-driven insights. Catalio has partnered with over 44 world-renowned scientists with extensive academic and scientific achievements who have each also started well-established companies based on their research. Catalio has offices in New York and London. Learn more about Catalio Capital Management by visiting www.cataliocapital.com.

Media:
Liidia Liuksila
212-750-8300
media@kkr.com

Charles V. Zehren
212-843-8590
czehren@rubenstein.com

Source: KKR

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