Category Archives: News

Investcorp acquires leading Chinese renewable energy critical components manufacturer Shandong Jianuo Electronics Co. Ltd.

Investcorp

17 May 2023

Investcorp, a leading global alternative investment firm, announced that it has completed the acquisition of a controlling stake in Shandong Jianuo Electronics Co. Ltd. (“Jianuo”). Operating out of the Shandong Province and China’s Greater Bay Area, Jianuo is a leading provider of specialty premium components used in fast-growing high-end applications such as electric vehicles power management, battery charging infrastructure, solar and wind power generation, and 5G base station infrastructure.

Jianuo is well-positioned to benefit from the domestic and international drive for energy transition, decarbonization and increasing automation. It has become a highly regarded Research and Development and advanced manufacturing partner to a wide group of global providers of alternative energy solutions including in the US, Europe and Japan.

The acquisition represents a continuation of Investcorp’s strategy of investing in and scaling category-leading growth companies with deep engineering and technology know-how, particularly those with a strong sustainability mission.

Commenting on the acquisition, Hazem Ben-Gacem, Co-CEO of Investcorp, said: “The shift to a low-carbon economy will create entirely new industries and value chains within the next five to 15 years, and Jianuo is right at the heart of that evolving trend. This acquisition reflects our strategy of investing in innovative and growing mid-sized companies and offering investors high-quality alternative investment opportunities in future-focused industries that are key to the global energy transition efforts. This acquisition marks our first control buyout in China. Investcorp is pleased to partner with Jianuo and to leverage our long-standing global expertise in elevating family-run businesses into institutionally managed global players.”

Duncan Zheng, Head of Private Equity China at Investcorp, added: “We look forward to partnering with Jianuo’s founders, management and over 400 employees as we embark on the next phase of Jianuo’s growth journey. Jianuo is well-positioned to expand and deepen its strong relationships with leading global renewable energy players through its extensive R&D capabilities and proprietary manufacturing know-how in producing innovative specialty components.”

Wang Chuanli and Wang Chuanwei, Jianuo’s Co-Founders, said: “We are pleased to partner with Investcorp as we bring our family business into its next stage of corporate evolution. We remain committed to Jianuo and look forward to expanding its operations into new markets. Through Investcorp’s global platform, we will be able to better serve our existing and new customers in leading the alternative energy transition.”

Categories: News

Tags:

TidalSense completes major rebrand and raises £7.5m for innovative medical device

BGF

Healthtech company TidalSense, formerly Cambridge Respiratory Innovations (CRI), has closed a £7.5 million funding round. 

The round was led by BGF and Downing, with the capital going towards building out TidalSense’s diagnostics business further, and targeting the primary care and diagnostics provider market in the UK.

BGF has backed TidalSense since 2020 and is continuing to support its growth following this latest investment, which has also seen the business complete a major rebrand and change of name.

The Cambridge-based company has created a handheld medical device (N-Tidal) that detects changes in lung function sensitively, and enables quicker, more accurate and automated diagnosis of chronic obstructive pulmonary disease (COPD), with asthma to follow.

COPD and asthma currently affect 1/10 of the world’s population—a figure that is rising steadily. It is one of the costliest conditions within healthcare systems, with the majority of costs associated with hospitalisations due to patient exacerbations in the later stages of disease. Early detection and diagnosis have the potential to slow the trajectory of the disease and, globally, the COPD and asthma diagnostics and monitoring market is estimated to be worth $8.2 billion per year.

Dr Ameera Patel, CEO of TidalSense, commented: “COPD is the third leading cause of death in the world and prevalence of respiratory diseases is rising. But the current clinical pathway for COPD diagnostics is stuck in the 1800s, and is ineffective, inefficient and expensive. In England alone, the NHS estimates that a third of people with hospital admissions from COPD have not been diagnosed, by which point their disease has progressed, their quality of life has deteriorated, and the cost to the healthcare system has ballooned.

Quick, reliable and accurate diagnostics have the potential to slash waiting lists and slow the trajectory of respiratory diseases. That’s why we’ve developed N-Tidal, which will enable earlier, accurate detection of COPD and will result in better patient outcomes and reduced costs for healthcare environments in the long-term.

Dr Ameera Patel, CEO, TidalSense

Tim Rea, head of early stage at BGF, commented: “As investors, we are focused on supporting transformational innovation. We have evaluated a broad range of propositions that involve the application of machine learning and are excited by the opportunities in the healthcare sector where we see scope to apply new tools to unmet needs.”

“The number of people living with respiratory diseases, particularly COPD and asthma, is rising globally, yet diagnosis and management are poor and expensive. The current standard of care leads to increased hospitalisations and deaths, and puts additional burden onto already stretched healthcare systems. TidalSense’s solution is a prime example of where advanced machine learning techniques can be applied to deliver faster diagnostics, greater efficiencies and better patient outcomes.”

Categories: News

Tags:

KKR Prices ¥61,500,000,000 of Senior Notes

KKR

NEW YORK–(BUSINESS WIRE)– KKR & Co. Inc. (“KKR”) (NYSE: KKR) today announced that it has priced an offering of ¥44,700,000,000 aggregate principal amount of its 1.428% Senior Notes due 2028 (the “2028 notes”), ¥1,800,000,000 aggregate principal amount of its 1.614% Senior Notes due 2030 (the “2030 notes”), ¥1,500,000,000 aggregate principal amount of its 1.939% Senior Notes due 2033 (the “2033 notes”), ¥3,000,000,000 aggregate principal amount of its 2.312% Senior Notes due 2038 (the “2038 notes”), ¥4,500,000,000 aggregate principal amount of its 2.574% Senior Notes due 2043 (the “2043 notes”) and ¥6,000,000,000 aggregate principal amount of its 2.747% Senior Notes due 2053 (the “2053 notes” and, together with the 2028 notes, the 2030 notes, the 2033 notes, the 2038 notes and the 2043 notes, the “notes”) issued by KKR Group Finance Co.XI LLC, its indirect subsidiary. The notes are to be fully and unconditionally guaranteed by KKR & Co. Inc. and KKR Group Partnership L.P.

KKR intends to use the net proceeds from the sale of the notes for general corporate purposes.

The notes will be offered and sold to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”).

The notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, pertaining to KKR. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. These forward-looking statements can be identified by the use of words such as “outlook,” “believe,” “think,” “expect,” “potential,” “continue,” “may,” “should,” “seek,” “approximately,” “predict,” “intend,” “will,” “plan,” “estimate,” “anticipate,” the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. These forward-looking statements are based on KKR’s beliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or within its control. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. We believe these factors include those in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should be read in conjunction with the other cautionary statements that are included in our periodic filings. Past performance is no guarantee of future results. All forward-looking statements speak only as of the date of this press release. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of this press release except as required by law.

Investor Relations:
Craig Larson
Tel: +1 (877) 610-4910 (U.S.) / +1 (212) 230-9410
investor-relations@kkr.com

Media:
Kristi Huller, Miles Radcliffe-Trenner or Julia Kosygina
Tel: + 1 (212) 750-8300
media@kkr.com

Source: KKR & Co. Inc.

Categories: News

Oakley Capital extends IU Group partnership with continuation vehicle

Oakley

Oakley Capital (“Oakley”) is pleased to announce it has raised a continuation fund to extend its partnership with IU Group (“IU” or “the Group”), the largest and fastest growing university in Germany and a global leader in education technology. Oakley’s continuation fund, backed by investors including TPG GP Solutions, HarbourVest Partners, Goldman Sachs Asset Management, Glendower Capital and Pantheon, is acquiring the business alongside Oakley Capital Fund V from Oakley Capital Fund III (“Fund III”). The business has performed significantly ahead of its original investment case and Fund III will realise a gross return of 85% IRR on its exit subject to completion.

IU is a digital disruptor in the very large and structurally growing higher education market, providing high quality, flexible and affordable online learning to adults and high school leavers.

IU Group
Fund III first invested in IU Group in 2017.

The transaction

The transaction extends Oakley’s successful partnership with IU Group and its senior management which began with its investment back in 2017. Oakley’s continued ownership and control of IU in combination with the leadership team running the business will ensure the long-term delivery of the Group’s vision to democratise education globally.

IU is a digital disruptor in the very large and structurally growing higher education market, providing high quality, flexible and affordable online learning to adults and high school leavers. The Group was an early adopter of artificial intelligence, successfully leveraging AI tools including early ‘natural language processing’ to scale its offering, and improve learning delivery and engagement with students. IU has the highest form of state accreditation in Germany and recently added separate U.K. and Canadian accreditations to its portfolio.

Oakley’s investment

Oakley has supported IU with investment in talent acquisition by leveraging its network to broaden the Group’s management team, as well as investing in student outcomes and marketing excellence. Significant investment in technology has enhanced IU’s IT delivery platform, enabling it to accelerate and scale every step in the value chain, from content creation to marketing and learning delivery. The Group has also hired more professors and opened new campuses to support blended teaching.

These investments have helped deliver strong student outcomes and increased enrolments. Student numbers have grown from 15,000 in 2017 to over 100,000 today. IU’s unique, digital platform now offers 350 accredited bachelor and master courses, representing the largest portfolio of degree programmes worldwide. IU has achieved an industry leading Net Promoter Score of 50+ and best-in-class student retention and outcomes.

Quote Sven Schütt

We are pleased to continue our partnership with Oakley which will help us drive the next phase of growth and continue our vision to democratise education across the globe. We are excited by the tremendous opportunity to further scale our business in our core markets as well as internationally.

Sven Schütt

CEO — IU Group

IU are democratising higher education by making it accessible to all:

Non-academic backgrounds

70% of IU students come from non-academic backgrounds.

Scholarships

The Group offers thousands of scholarships every year to students from disadvantaged backgrounds and developing countries.

B Corp

In keeping with its commitment to ESG, the business is working towards becoming a B Corp company.

IU Group is now on track to deliver c.€500 million in revenues in 2023. Oakley’s renewed partnership with IU will drive the next phase of the Group’s growth, with continued growth in existing markets, accelerated internationalisation driven by organic growth and acquisitions in key geographies. IU already offers more than 70 English language accredited bachelor’s and master’s degrees and will expand the portfolio over the next phase.

IU is also leveraging the power of Artificial Intelligence as the first global university to deploy an AI-powered teaching assistant across all its English programmes in order to enhance the individual learning journey for students.

Lazard acted as sole financial advisor to Oakley Capital in connection with the transaction.

Quote Peter Dubens

Sven and his team have redefined modern university education. They have consistently delivered on their ambitious targets, improved student outcomes, innovating with AI driven delivery, and expanding into new verticals and geographies. We are excited to continue to support IU as the Group accelerates its international growth.

Peter Dubens

Managing Partner — Oakley Capital

Categories: News

Tags:

Portfolio reaches a record level in a challenging economic environment

GIMV

Topic: Results publication

CEO Koen Dejonckheere:

2022 represented for our companies yet another period of severe turbulence and necessity to realign in terms of supply, energy, inflation, skilled teams, interest rates, financing and economic demand. Once more, they demonstrated their robustness and vitality by posting strong revenue growth (+24% for the second year in a row) and maintaining profitability (-1.7%). Our confidence in their solid foundations, strong entrepreneurship, and the perseverance of their management and staff has been confirmed. Although the first half of 2022 was difficult, effective pricing policies and cost management translated into a recovery in the second half of the year. During this period, the solid performance of our companies supported a positive portfolio result, with the platform portfolio return thus remaining positive on a year-on-year basis.

We continued our intensive investment activity in the past year, resulting in a record investment amount of EUR 261 million. We not only welcomed nine new companies to our portfolio, but the growth momentum through buy-and-build also continued to accelerate with no fewer than 36 acquisitions by our companies. As a result, the overall investment portfolio could reach a record level of over EUR 1.5 billion, an important source of sustainable value creation in the coming years. Combined with our solid balance sheet, this means we can confirm our dividend of EUR 2.60 per share for the past financial year.

Chair Hilde Laga adds:

Gimv is committed to integrate sustainability into the dialogue with our portfolio companies to ensure they are – and remain – future-proof. They can count on Gimv to guide them in achieving their sustainability goals. Gimv’s inclusion in the BEL ESG index is a public recognition of our sustainability vision and ESG efforts.

The results for the 2022–23 financial year relate to consolidated figures for the period from 1 April 2022 to 31 March 2023.

Key elements

Results

  • Sustained strong revenue growth at portfolio companies in 2022 (+24%) and maintained profitability (-1.7%) despite strong inflationary pressure on costs (e.g. energy, commodities and salaries).
  • Although the first half of 2022 was difficult, effective pricing policies and cost management and lower working capital requirements translated into a positive portfolio result (EUR +50 million) in the second half of the year. The return on the platform portfolio remained positive for the full financial year (EUR +4.7 million or +0.4%; the total portfolio result was EUR -1.2 million).
  • Net result (group share): EUR -59.5 million (or EUR -2.20 per share)

Investments / Exits

  • A record investment level of EUR 260.6 million, spread across nine new holdings and a growing number of additional investments in our portfolio companies with 36 add-on acquisitions in the past 2022–23 financial year as part of a continued intensive buy-and-build strategy.
  • Total proceeds from divestments: EUR 175 million, with a total realised money multiple of 1.8x compared to the invested amount.

Balance sheet and portfolio

  • Sustained high investment rhythm and a record number of acquisitions made by portfolio companies ensured continued growth of the investment portfolio by 5.1% to a new record level of EUR 1,523 million (invested in 59 companies).
  • Available liquidity on the balance sheet increased from the end of the first half of the 2022–23 financial year to EUR 194.4 million (EUR 350 million financed by LT bonds). Gimv also has EUR 200 million of undrawn credit lines at banks.

Equity

  • Value of equity (group share): EUR 1,312 million (or EUR 48.20 per share compared to EUR 50.40 per share (excluding dividends) as at the end of March 2022).

Dividend

  • Proposal to maintain the dividend of EUR 2.60 gross (EUR 1.82 net) per share for the 2022–23 financial year, subject to general meeting approval on 28 June 2023.

Payment in principle through an optional dividend, which will allow Gimv, as appropriate, to strengthen its cash position with a view to continued portfolio growth.

 

Read the full document
 

Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

Categories: News

GPR Announces Series A Funding on Back of Customer Traction

RHapsody
·3 min read

SOMERVILLE, Mass., May 18, 2023–(BUSINESS WIRE)–GPR, the world’s only provider of Ground Positioning Radar™, today announced it has secured an undisclosed amount of Series A funding led by top technology investor Rhapsody Venture Partners.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230518005231/en/

As the world’s most reliable vehicle positioning system, GPR allows vehicles to determine their precise location with centimeter-level accuracy, no matter how challenging road conditions become. (Photo: Business Wire)

GPR’s technology enables precise – centimeter level – vehicle localization in all visibility circumstances. Precise localization is an unresolved issue for vehicles in limited visibility environments such as snow, heavy rain and fog, and in unstructured environments such as mining sites, sidewalks, ports, tarmacs, etc. Currently, Global Navigation Satellite Systems (GNSS) sensors are complimented with cameras and Lidar systems to overcome the GPS limitations, but these systems rely on clear above ground visibility. GPR is unique in its approach to look underground, scanning the ground below the road and creating a 3-D map of the road’s unique subsurface signatures. This map then allows reliable and precise localization, no matter the aboveground visibility conditions.

“Over the past months, we’ve seen an exciting influx of customer demand for our solution,” said Moran David, Chief Executive Officer of GPR. “Customers from all sectors are recognizing that the past approach to localization produces too many blackouts. There’s always been a great deal of curiosity for our solution and the recent completion of our MVP has now unlocked a swath of customer projects. Securing this Series-A allows GPR to serve its lighthouse customers and meet demand through the commercialization and industrialization of our technology. We are planning to be on thousands of vehicles in 2024.”

“GPR is fundamental to create safe advanced driving systems,” said Carsten Boers, Managing Partner at Rhapsody Venture Partners. “You can’t have reliable self-driving without knowing your precise location. The market was betting that localization would solve itself with enough computation of miles, but that bet is lost. The complexity of above ground data, paired with imperfect visibility conditions in the real world make the past approach not reliable enough. We’re excited about the potential for GPR’s first commercial deployment and for it eventually to become a safety standard.”

About GPR
Founded in 2017, GPR, formerly known as WaveSense, is pioneering the highest-performing localization solution for autonomous capabilities through its Ground Positioning Radar™. As the world’s most reliable vehicle positioning system, GPR allows vehicles to determine their precise location with centimeter-level accuracy, no matter how challenging road conditions become. Whether on-road in conditions such as unmarked roads, poor weather, urban canyons, off-road, or even underground, vehicles fitted with Ground Positioning Radar™ deliver a more robust, higher quality assisted, and autonomous driving experience that other sensors can’t. GPR works closely with OEMs and Tier 1 partners to help vehicles safely navigate where current ADAS sensors, including lidar and camera-based systems, fall short. For more information, visit www.GPR.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230518005231/en/

Contacts

Kathryn Blackwell +1(248)210-8310
kathrynblackwell@yahoo.com

Categories: News

Ardian signs agreement to sell ASR Wind to Naturgy

Ardian

The sold portfolio includes 12 wind farms with an installed capacity of 422 MW, spread throughout Spain.
• The portfolio also includes a hybrid photovoltaic farm of 435 MW developed by AGR-AM, a renewable asset manager operating exclusively for Ardian in Spain and Latin America.
• The transaction is expected to be completed by the end of July, subject to Naturgy receiving approval from relevant authorities.

Ardian, a world-leading private investment house, has agreed to sell ASR Wind, a portfolio of 12 wind farms, to Naturgy, the Spanish renewable energy group. The wind farms are in different regions across Spain. Commissioned between 2005 and 2012, the farms have an installed capacity of 422 MW.

Ardian has used the ASR Wind platform to manage other renewable energy projects in Spain and Italy, totaling 1GW, which were excluded from this transaction.

Ardian acquired 95% of the ASR Wind portfolio in 2019, representing the first investment of its fifth-generation fund, Ardian Infrastructure Fund V. The remaining percentage is held by Exus Management Partners, which will also exit the company’s ownership following the transaction.

“This transaction marks a milestone moment for Ardian’s Infrastructure strategy. Our team is now a pioneer in Spain in developing wind-solar hybrid systems, optimizing their production capacity and improving their industrial value. The attractiveness of this type of asset has also been demonstrated by the strong interest it has received in the market. Furthermore, we will continue to develop our remaining 1GW portfolio with AGR-AM and continue to create value.” Juan Angoitia, Co-Head of Infrastructure Europe, Ardian

The closing of the transaction is scheduled for the end of July, once Naturgy has completed the competition procedures required by the authorities.

Commitment to Spain

Alongside the management of wind farms, the company is driving several other value-creating initiatives, including the hybridization of wind assets with solar photovoltaic power generation systems led by AGR-AM, the renewable asset manager dedicated exclusively to Ardian’s portfolio in Spain and Latin America.

The hybridization of wind assets with solar photovoltaic production systems is particularly noteworthy. The 435 MW of hybrid photovoltaic farms included in the sale are currently being developed as part of a pioneering project in Spain, maximizing the quality of connection points and stabilizing the energy production of the assets once hybridized.

Participants

  • ARDIAN

    • Financial advisors: Santander CIB and BBVA CIB
    • Legal advisor: Clifford Chance

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $150bn of assets on behalf of more than 1,400 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 is majority-owned by its employees and places 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  

 

Categories: News

Tags:

Apax Funds make approximately $450m investment in travel tech company IBS Software

Funds advised by Apax Partners LLP (“Apax”) announced today that they have reached a definitive agreement to invest approximately $450m to acquire a significant minority stake in IBS Software, a leading provider of modern Software-as-a-Service (SaaS) solutions to the global travel and logistics industry, from Blackstone. Following the transaction, Apax will partner closely with IBS Software’s Founder and Executive Chairman, V K Mathews, who will remain the majority shareholder.

IBS Software Logo (002)

Founded in 1997 with a vision of redefining the future of travel through technology innovation, IBS Software provides next-generation SaaS solutions that power the most mission-critical operations at the world’s leading aviation, tour and cruise, hospitality and logistics companies. With a comprehensive portfolio of modular, cloud-based solutions purpose-built for the travel industry, IBS Software helps travel companies accelerate innovation and drive efficiency across a broad set of core business processes, including cargo and logistics, flight operations, passenger services, loyalty programs, cruise operations, energy & resource logistics and hospitality distribution platforms. Backed by a team of 4000 professionals across the world with more than 25 years of deep domain expertise, IBS Software’s scalable, cloud-native platform and demonstrated market leadership, position it to define the future of mission-critical technology for the travel industry.

V K Mathews, Founder and Executive Chairman of IBS Software said: “We’re excited to partner with Apax as we enter a new phase in our mission to transform how travel companies operate in a digital world. This investment is an endorsement of our strategy and our commitment and contribution to the industry, and we have a shared vision with Apax for the future of the business. We thank our customers and employees who have been instrumental in our success so far. We’re grateful to the Blackstone team for their invaluable support over the years and we look forward to an exciting and fulfilling journey ahead with Apax.”

Anand Krishnan, CEO, IBS Software, added: “As the travel industry rapidly embraces digitalisation, we have a vital role to play in helping our customers accelerate revenues, drive efficiency and create differentiated customer experiences. Apax has deep experience in partnering with leading SaaS providers and will be a strategic partner for IBS Software as we embark on a new phase of growth. We thank Blackstone for helping us create real value and a true partnership.”

Jason Wright, Partner, Apax, commented: “We are thrilled to partner with VK and the management team at IBS Software. Having closely monitored the travel software sector over the last several years, IBS Software stood out to us as uniquely positioned in the industry, offering a next-gen software suite that we believe is truly unrivalled. Over the last two decades, IBS Software has invested in products, innovation, and culture, while continuing to scale the business. We believe there is tremendous growth potential ahead and look forward to leveraging our software experience to help IBS Software become a world leader in travel and logistics software.”

Amit Dixit, Head of Asia Private Equity, Blackstone, said: “We are happy to have played an important role in IBS Software’s transformation to a SaaS company with global leadership in Travel and Logistics. IBS is already one of the largest enterprise SaaS companies out of India. We thank VK for his strategic vision and for being a terrific partner, and Anand and the management team for their impeccable execution. Value creation at IBS Software demonstrates our business-building approach to investing and reinforces our conviction in Technology as a sectoral theme.”

The transaction is subject to customary closing conditions and is expected to close end of Q2 2023. Financial terms were not disclosed.

J.P. Morgan is acting as financial advisor to IBS Software and Blackstone, Drew & Napier LLC is acting as legal counsel to IBS Software and Simpson Thacher & Bartlett LLP is acting as legal counsel to Blackstone.

Kirkland & Ellis LLP is acting as legal counsel and Jefferies LLC is acting as financial advisor to Apax.

 

-ENDS-

 

ABOUT IBS SOFTWARE

IBS Software is a leading SaaS solutions provider to the travel industry globally, managing mission-critical operations for customers in the aviation, tour & cruise, hospitality, and energy resources industries. IBS Software’s solutions for the aviation industry cover fleet & crew operations, aircraft maintenance, passenger services, loyalty programs, staff travel and air-cargo management. IBS Software also runs a real time B2B and B2C distribution platform providing hotel room inventory, rates and availability to a global network of hospitality companies and channels. For the tour and cruise industry, IBS provides a comprehensive, customer-centric, digital platform that covers onshore, online and on-board solutions. Across the energy & resources industry, we provide logistics management solutions that cover logistics planning, operations & accommodation management. The Consulting and Digital Transformation (CDx) business focuses on driving digital transformation initiatives of its customers, leveraging its domain knowledge, digital technologies and engineering excellence. IBS Software operates from 16 offices across the world. Further information at www.ibsplc.com. Follow us: Blog | Twitter | LinkedIn | Facebook | Instagram

 

ABOUT APAX

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Internet/Consumer, Tech, Services, and Healthcare. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Apax Partners is authorised and regulated by the Financial Conduct Authority in the UK.

Global media contact

Katarina Sallerfors

t: +44 20 7872 6300

Luke Charalambous

t: +44 20 7872 6300

Categories: News

Tags:

Kirkman Company, YSE and Dialogue join forces in new venture: Kyden

No Comments
Fields Group

Full-service provider focuses on Environmental , Social and Governance (ESG)
AMSTERDAM, Wednesday, May 17, 2023 – Kirkman Company, YSE and Dialogue today announced that they will continue under the name Kyden . This new organization has the mission to accelerate the transition to a sustainable society. By joining forces, the founders expect to be able to make an even greater impact. The partly B Corp-certified companies have the in-house expertise to accelerate the transformation of organizations on ESG-related themes (Environmental, Social and Governance). It is Kyden’s ambition to gain a prominent position in the European market as an ESG specialist. Investor FIELDS Group, with offices in Amsterdam and Munich, has joined as a shareholder.

Full-service ESG service provider
Kirkman Company, YSE and Dialogue are established names in their specific fields and areas of expertise. Organizational consultancy firm Kirkman Company has been successfully transforming organizations for 23 years in order to achieve their objectives in harmony with people, society and nature. YSE specializes in the interim deployment of young professionals, recruitment, selection, training and coaching of individuals and organizations. As a training agency, Dialogue specializes in training, mediation, coaching and intervision. The three organizations have been working closely together for some time. Joining forces in Kyden is therefore a logical next step, creating a unique full-service ESG service provider. Kyden offers services within the following three domains: consultancy & transformation, education & talent and technology & data. The executive team consists of Harry de Haas (Dialogue), Stefanie van de Griendt (YSE), Roy Klaassen (Kirkman Company) and Joris van Gils (FIELDS). The non-executives will be Monique van de Griendt (owner of Dialogue), Erik van der Meulen and Han Hendriks (co-owners of the Kirkman Company and YSE).

Full steam ahead
Roy Klaassen, member of Kyden’s executive team, sees the accelerated transition to a sustainable society as the most important challenge of our time. “Organizations are all, to a greater or lesser extent, concerned with guidelines on the environment, social conditions and governance. Fortunately, a lot is already happening to increase the positive impact on people and the planet, but the pace must and can be increased. We must go full steam ahead. Due to radical changes in the field of environmental, social and governance requirements and an increasing intrinsic motivation from consumers, employees and directors, we guide companies at all levels in the organization towards future-proof business operations. At Kyden, we believe in the power of positive change of individuals and teams to improve the performance of both individual organizations and entire ecosystems.”

Strengthen market position
To accelerate Kyden’s positioning and growth as a leading ESG player, investor FIELDS Group joins as a shareholder. Kyden has had around 175 employees since its launch, positioning itself as a full-service provider within the growing ESG domain. Kyden is also actively looking for companies that fit within its strategy to further strengthen its market position and make a greater impact. The company has the ambition to become a prominent player in the ESG domain at European level and to accelerate the transition to a sustainable society. Kirkman Company, YSE (including the SKLLS and Connectors labels) and Dialogue brands will continue to exist alongside Kyden for the time being. In time, these brands will transition into the new company.

About Kyden
Three established impact companies with years of experience in various fields join forces: Kirkman Company, YSE (including labels SKLLS and Connectors) and Dialogue. We have been working together for a long time and complement each other in terms of services, skills, network and capacity. The merger gives us, as a full-service ESG service provider, a strong position in the market. This way we can help organizations even better with their sustainable transformation.
www.kyden.com

About Kirkman Company
Kirkman Company – founded in 2000 by Han Hendriks, Cas van Arendonk and Ivar Davids – is a consultancy firm that helps organizations to successfully transform in order to achieve their goals in harmony with people, society and nature. We hold the key to a more beautiful world ourselves by not only talking about it, but above all by doing it. Kirkman Company is a certified B Corp since 2016.
www.kirkmancompany.com

About YSE
Since 2007, YSE has been there for those who want to grow and for projects that need a boost with the temporary deployment of young professionals. These young professionals follow a two-year development program and help organizations during this period through interim assignments to change, accelerate and innovate within the organization.
www.yse.nl

About Dialogue
Dialogue , founded in 2003 by Monique van de Griendt, is a training and consultancy agency specialized in mediation and training, coaching and intervision in the field of professional and personal development. Dialogue’s mission is to develop sustainable organizations by strengthening people and teams in the organizations and to make dialogue the norm in society. Dialogue is a certified B Corp since 2019.
www.dialoguebv.nl

About FIELDS Group
FIELDS Group is an entrepreneurial hands-on investor that focuses on the sustainable development of companies with potential. FIELDS Group invests in companies with headquarters in the Benelux and the DACH region and realizes real transformations with its team.
www.fields.nl

Categories: News

Tags:

BGF leads £19 million investment in Brompton Bicycle

BGF

BGF has led a £19 million investment into Brompton, to further accelerate the growth of the iconic folding bike brand. 

Since 1975, Brompton has been independent, owned by the founder Andrew Ritchie, current CEO Will Butler-Adams, their friends and family, and its staff. Following the investment, BGF has taken a minority stake to support Brompton’s ambition to create urban freedom for happier lives.

Will Butler-Adams, CEO at Brompton, said: “Over the last two decades, Brompton has grown organically at circa 20% a year, funded by reinvesting our profits. For the year ended March 2023, turnover grew 21% to £130 million, supported by the launch of the Superlight T Line and Electric P Line products.”

“We export 80% of our bikes to 46 countries and, in November 2022, made our one-millionth bike, a great achievement. But this is not enough, we need to move faster. The impact of climate change is being felt by us all and the greatest carbon emissions come from our cities where most of the world’s population now lives.”

Our team at Brompton is brimming with ideas to accelerate our growth through product innovation, storytelling, outstanding stores, and having fun with our amazing community. But if we are really going to go for it, we need to strengthen our balance sheet to give us the confidence to be more ambitious.

Will Butler-Adams, CEO, Brompton

Daina Spedding, investor at BGF, said: “We are incredibly excited to be backing an iconic British brand that is rich in heritage and engineering prowess, with an outstanding track record of profitable, global growth.”

“From the outset, there has been a clear synergy between Brompton and BGF, with shared long-term goals and a focus on sustainable growth that is good for both people and planet. We look forward to supporting the business as it continues to expand into new markets and invest in new technologies and manufacturing capabilities to meet ever-growing demand for its revolutionary cycling range.”

Categories: News

Tags: