Category Archives: News

EQT to acquire Seven Seas Water Group, a leading provider of sustainable water and wastewater solutions

eqt

 

SSWG Alice TX

  • Seven Seas Water Group delivers water and wastewater solutions through its Water-as-a-Service® model to communities across the U.S., Caribbean and Latin America, addressing vital segments of the water value chain that are central to resilient supply and require significant long-term investment
  • Transaction underscores EQT’s commitment to investing behind essential infrastructure, partnering with established platforms that deliver sustainable, mission-critical services aligned with global needs for resource efficiency
  • EQT aims to accelerate Seven Seas Water Group’s continued growth and support the Company’s mission to provide safe, reliable and cost-effective water and wastewater treatment solutions to the people and regions it operates in

EQT is pleased to announce that the EQT Infrastructure VI fund (“EQT”) has agreed to acquire Seven Seas Water Group (“Seven Seas” or “the Company”) from Morgan Stanley Infrastructure Partners (“MSIP”).

Headquartered in Tampa and Houston, Seven Seas builds, owns, and operates water and wastewater treatment plants across the U.S., Caribbean, and Latin America, with over 220 plants currently under management. For more than two decades, the Company has successfully implemented its Water-as-a-Service® (or “WaaS®”) integrated model, which applies trusted capabilities in design, development, finance, risk management, and operations to greenfield and brownfield development, as well as the revitalization of existing water treatment plants.

Water access and wastewater treatment are critical services, particularly in communities facing water scarcity and aging infrastructure driven by population growth, suburban expansion, and extreme weather–pressures that are accelerating the shift toward decentralized utility systems. The U.S. Environmental Protection Agency estimates that up to $75 billion of investment will be required for decentralized wastewater treatment in the U.S. to meet water quality goals through 2042[1]. 

As a well-established owner and operator of decentralized water and wastewater treatment plants, Seven Seas is purpose-built to meet this evolving need and support the communities most affected by these challenges. The Company delivers flexible, scalable solutions where legacy water and wastewater infrastructure falls short, covering all aspects of the water cycle through customized desalination, advanced water purification, wastewater treatment and reuse and recycle services.

EQT will support the Seven Seas management team in accelerating the deployment of water and wastewater treatment plants. It will leverage its in-house digital expertise to support the Company in further optimizing the platform’s operations and efficiency, while drawing on its global network and deep industry expertise to expand into new geographies.

Alex Darden, Partner and Head of EQT’s Infrastructure Advisory Team Americas, said: “EQT has followed Seven Seas and the water sector closely for many years, recognizing the strong thematic tailwinds supporting the industry. Seven Seas provides critical access to potable water in areas where a large portion of the population would otherwise not have access to clean water and wastewater infrastructure. We’re excited to join forces with the Seven Seas team to help drive more efficient water and wastewater management and fulfill their mission to expand access to clean, affordable water in the communities where it is needed the most.”

Henry Charrabé, CEO of Seven Seas Water Group, said “We are excited to build upon the success we’ve achieved over the years and look forward to further accelerating Seven Seas’ growth trajectory alongside EQT. EQT’s long-term vision and focus on sustainability align closely with our strategy, and as an investor with deep infrastructure expertise, will further support and strengthen our platform expansion through our valued Water-as-a-Service® solutions. EQT’s financial strength and familiarity with the water and wastewater treatment business will allow us to execute on our ambitious growth plans while continuing to help deliver great value to our customers and partners.”

The transaction is subject to customary conditions and approvals.

EQT was advised by Royal Bank of Canada (financial) and A&O Shearman (legal).

With this transaction, EQT Infrastructure VI is expected to be 50-55 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

Contact

EQT Press Office, press@eqtpartners.com

[1] U.S. Environmental Protection Agency, 2022 Clean Watersheds Needs Survey

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About EQT

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

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

About Seven Seas Water Group

Headquartered in Tampa and Houston, with operations across the U.S., Caribbean, and Latin America, Seven Seas delivers water and wastewater treatment solutions to governmental, municipal, industrial, and hospitality customers and owns more than 220 water and wastewater treatment plants. The Seven Seas Water-as-a-Service® model has been successfully deployed for over 20 years, demonstrating our leading capabilities with project execution, financing, risk management, and operations. In addition to building new plants, the company is actively acquiring existing water and wastewater treatment plant operations. Seven Seas also operates AUC Group, a leading provider of decentralized water treatment plants throughout the U.S., with over 2,000 installations since 1970.

More info: https://sevenseaswater.com/

Categories: News

Ardian signs an exclusive agreement to acquire a majority stake in MasterGrid alongside the Management team

Ardian

Ardian, a world-leading private investment firm, today announces an exclusive agreement to acquire a majority stake in MasterGrid, a leading provider of maintenance services and manufacturer of equipment for critical electrical infrastructure, notably on the most technical high-voltage segment. The Company’s founders and employees will also significantly reinvest alongside Ardian, which will support the Company to accelerate its growth plans worldwide.

Headquartered in Grenoble and historically a business unit of Siemens, MasterGrid was carved out by Siemens to Andera Partners in 2019. Since then, the Group, which was focused on the manufacturing and maintenance of Merlin Gerin installed base of equipment, has successfully diversified its offering and expanded into 11 new countries both through organic and external growths (7 acquisitions realized since 2020).

Today, MasterGrid operates across three main segments: proprietary services and equipment (manufacturing, spare parts and maintenance), services on third party equipment, and engineering & solutions. The Company mainly provides its services and equipment to power generation companies, transmission & distribution system operators, and private connections for industries and infrastructures.

MasterGrid is ideally positioned in a market driven by key megatrends around the sustainable energy transition, ageing infrastructure, and growing electricity needs. These trends are expected to drive further demand from MasterGrid’s customers, enhancing the Company’s long-term growth prospects.

Ardian’s investment will support MasterGrid’s ambitious growth strategy. With its unique technical expertise and long-standing client relationships, the company plans to capitalize on the expected massive investments in the electricity infrastructures, pursue the diversification in new equipment, and further accelerate its international expansion, particularly in Europe and the Middle East.

The completion of the transaction is subject to the opinion of the Group’s employee representative bodies and the approval of the relevant regulatory authorities.

“MasterGrid’s success is a testament to the strength and vision of its management team. Since the carve-out from Siemens in 2019, they have demonstrated exceptional leadership, driving consistent growth and operational excellence. We are proud to support such a talented team and are confident in their ability to lead MasterGrid through its next chapter, as the company continues to capitalize on the opportunities presented by the energy transition.” Maxime Sequier, Managing Director Expansion, Ardian

“We are pleased to become MasterGrid’s new partner and look forward to supporting the Group’s growth journey by leveraging Ardian’s resources, experience and global network, particularly through targeted acquisitions.” Alexis Lavaillote, Managing Director Expansion, Ardian

“We are delighted to welcome Ardian as a majority shareholder to support us in the next stages of our development, both in France and internationally. Through our maintenance and retrofitting activities, we contribute to the growing need for the modernization and expansion of electrical infrastructure, as well as the transition to a decarbonized energy mix. The support of Ardian’s Expansion Team will enable us to accelerate our growth, broaden our geographic footprint, and strengthen our leadership in delivering innovative and sustainable solutions to our clients.” Ludovic Vallon, CEO and Founder, MasterGrid

“At the time of the 2019 carve-out, we shared a clear ambition with the management team: to establish a leading player in the T&D sector—independent, international, and combining customer proximity with high value-added services. This strategy has been very successfully executed, and we are proud to hand over the reins to Ardian and the management team to carry this outstanding journey forward.” Sylvain Charignon, Partner, Andera

List of participants

  • Participants

    • MasterGrid: Ludovic Vallon, Loïc Zangara, Benoît de Turckheim, Sébastien Thomasson
    • Ardian, Expansion: Maxime Sequier, Alexis Lavaillote, Steven Barrois, Hortense de Bray, Remi Guelagli
    • Andera Partners: Sylvain Charignon, Antoine Le Bourgeois, Vincent Bazzocchi, Aurelie Owona

  • Buyer advisors

    • M&A Advisors: Sycomore CF (Tristan Dupont), Natixis Partners (Olivier Dardel, Jerome Vivien), and Investec (Kilian de Gourcuff)
    • M&A Lawyers: Hogan Lovells (Stephane Huten, Arnaud Deparday)
    • Financing Lawyers: Paul Hastings (Olivier Vermeulen, Tereza Courmont)
    • Strategic Due Diligence: Kearney (Nicholas Veg, Sandra Pierrard)
    • Financial Due Diligence: Eight Advisory (Pierre-David Forterre, Alexandre Chapelle)
    • Legal, tax and social Due Diligence: KPMG Avocats (Xavier Houard, Florence Olivier, Albane Eglinger)
    • Insurance Due Diligence: Finaxy (Deborah Hauchemaille)

  • Sellers, company and management advisors

    • M&A Advisors: Amala Partners (Jean-Baptiste Marchand, Alexis Matheron)
    • Management Advisors: Duroc Partners (Alexandre Dejardin, Eleonore Gaulier), Chaouat & Associes (Stephane Chaouat, Alexandre Groult)
    • M&A Lawyers: Volt Associes (Emmanuel Vergnaud)
    • Strategic vendor Due Diligence: Lek (Serge Hovsepian, Benjamin Tuchman)
    • Financial vendor Due Diligence: Alvarez & Marsal (Benoit Bestion)
    • Vendor legal, tax and social: EY Societe d’Avocats (Sophie Allex-Lyoudi, Laure Tatin-Gignoux, Giani Michalon)

ABOUT ARDIAN

Ardian is a world-leading private investment firm, managing or advising $177bn of assets on behalf of more than 1,850 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT MASTERGRID

MasterGrid, an expert in electrical systems supporting the energy transition, manufactures equipment and provides maintenance and renovation services extending the lifecycle of electrical installations. Heir to a prestigious industrial heritage, MasterGrid was created in 2019 following the acquisition of the high-voltage assets of the Merlin Gerin brand. The company has since gone from strength to strength, consolidating its activities in France, diversifying its portfolio of products and services in medium and low voltage and exporting its expertise around the world. Today, MasterGrid brings together nearly 500 employees across 13 sites in France and 11 subsidiaries abroad. In 2024, the company achieved a turnover of over €110 million, 35% of which was generated from international markets.

mastergrid.com

ABOUT ANDERA PARTNERS

Created almost 25 years ago, Andera Partners is a major player in private company investments in France and internationally. Its teams manage over €4.8 billion in investments in life sciences (Andera Life Sciences), growth and buyout capital (Andera MidCap, Andera Expansion/Croissance, Andera Co-Invest), sponsorless transactions (Andera Acto) and ecological transition (Andera Infra).
Andera Partners’ mission is to work alongside companies and their managers to support them in achieving strong and sustainable growth. The quality of performance offered to our investors relies on a strong partnership between the entrepreneurs in our portfolio companies and our teams, based on shared values. Performance through collective engagement, the “Power of And”, constitutes Andera Partners’ DNA.
Based in Paris, with offices in Antwerp, Madrid Milan and Munich, Andera Partners counts 120 professionals, of which 74 investment professionals.

anderapartners.com

Media Contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Diverso Energy forms strategic partnership with Mattamy Homes

DIF

Borefield Mock Up The Clove

CVC DIF’s Diverso Energy forms strategic partnership with Mattamy Homes to accelerate geothermal heating and cooling in Canada

  • The newly formed strategic partnership will be the exclusive ground source heating and cooling utility provider to select Mattamy residential developments in Canada.
  • Mattamy is one of North America’s largest privately owned homebuilders, with more than 2,300 residential homes under construction in Canada that will serve as seed assets to the partnership and provide a strong foundation for future growth.
  • The partnership will deliver energy-efficient, cost-effective and low-carbon heating and cooling to Canadian homeowners.

CVC DIF, the infrastructure strategy of leading global private markets manager CVC, is pleased to announce the formation of a strategic partnership between its ground source heating and cooling (“geoexchange”) platform Diverso Energy (“Diverso”), the leading geoexchange utility in North America, and Mattamy Homes (“Mattamy”), one of the largest privately owned homebuilders in North America and an industry leader in sustainable low-carbon homebuilding.

The strategic partnership will make Diverso the exclusive geothermal provider for select Mattamy residential developments across Canada, spanning a range of single- and multi-family low-rise, mid-rise, and high-rise developments. As part of the groundbreaking partnership, Mattamy will also contribute its existing portfolio of operating and under construction geoexchange systems serving more than 2,300 residential units as seed assets to the partnership. It will ensure that homeowners can benefit from reliable, cost-effective and energy efficient heating and cooling solutions for decades to come, while aligning with the parties’ industry leading commitments to sustainability and decarbonization.

Brad Carr, CEO of Mattamy Homes, shares: “We look forward to working with the team at Diverso to expand our capabilities of delivering geothermal heating and cooling to our Mattamy homeowners, with a focus on reducing carbon emissions across our communities in Canada.”

Tim Weber, CEO of Diverso, notes: “This partnership marks a significant milestone for Diverso and we are thrilled to partner with Mattamy Homes, a company that shares our commitment to sustainability and innovation. This partnership will not only enhance the value proposition for Mattamy’s homeowners but also accelerate the adoption of geoexchange technology in residential developments across Canada. We look forward to working alongside Mattamy to support decarbonization across its strong pipeline of residential developments.”

Gijs Voskuyl, Managing Partner of CVC DIF, further highlights CVC DIF’s approach to scaling its platforms: “This strategic partnership continues to build on CVC DIF’s long standing track record of active value creation in supporting its portfolio companies’ growth and innovation, alongside world-class partners like Mattamy Homes. For our investors, the partnership represents a unique opportunity to add strategic scale to Diverso and grow its asset base, while underscoring our collective commitment to sustainability. We look forward to continuing to support Diverso in this collaboration with Mattamy and believe it will set a new standard in the geoexchange industry.”

CVC DIF, through its DIF Infrastructure VII fund, acquired a majority interest in Diverso in 2023 from its founders, who have continued to lead the company. Since then, CVC DIF has supported Diverso and its leadership team in becoming the leading geoexchange utility in North America. Diverso offers its unique geoexchange heating and cooling solution through an Energy-as-a-Service model, underpinned by long-term contracts.

About CVC DIF

CVC DIF (formerly DIF Capital Partners) is a leading global mid-market infrastructure equity fund manager.

Founded in 2005 and headquartered in Amsterdam, the Netherlands, CVC DIF has c. €19 billion of infrastructure assets under management in energy transition, transport, utilities and digitalisation.

With over 250 people in 12 offices, CVC DIF offers a unique market approach, combining a global presence with the benefits of strong local networks and sector-focused investment capabilities.

CVC DIF forms the infrastructure strategy of leading global private markets manager CVC. This partnership allows CVC DIF to benefit from CVC’s global platform, with 30 offices across five continents.

Press contacts

CVC DIF

Renate Klöters

press@dif.eu

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Clearlake Capital Completes Majority Investment in ModMed to Fund Growth

Clearlake

New Investment Accelerates the Growth and Innovation of ModMed’s AI-Powered Medical Practice Technology Platform BOCA RATON, Fla. – April 30, 2025 – ModMed® (the “Company”), a leader in specialty-specific healthcare SaaS technology, today announced that Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) has completed its investment in the Company. Financial terms of the transaction were not disclosed.

“Market demand continues to accelerate for AI-enabled technology that streamlines healthcare workflows, as providers look to improve patient experiences and drive time and cost efficiencies at their practices,” said Dan Cane, Co-Chief Executive Officer and Co-Founder, and Dr. Michael Sherling, Chief Medical and Strategy Officer and Co-Founder, at ModMed. “We believe our commitment to developing innovative technology has solidified our position as a leading provider of ambulatory healthcare software, resulting in outsized demand and growth across each of our medical specialties. We are grateful for the partnership of Warburg Pincus, Pentland Capital, Summit Partners, and others over the years, and are excited for the next phase of growth with Clearlake.”

“This recognition of ModMed underscores the potential we identified and have proudly supported from its early stages,” said Barry Mosheim, Director at Pentland Capital Limited. “As the Company embarks on its next chapter of innovation and growth, we remain confident in ModMed’s ability to achieve even greater success in the years to come.” “Clearlake’s investment in ModMed is an exciting and important step in our company’s evolution,” said Joe Harpaz, Co-Chief Executive Officer at ModMed. “Throughout our conversations, Clearlake has expressed confidence in our team and strategic direction. With their experience in driving growth through innovation and expansion, we will continue our efforts to advance practice solutions and expand our ability to further transform the patient-provider experience.” Founded in 2010, ModMed develops AI-powered practice technology to support the needs of providers and their staff in multiple medical specialties. The Company’s solutions leverage structured data collection and time-saving features like adaptive learning and automation to enhance both clinical and operational efficiency. ModMed offers a comprehensive suite of solutions designed to empower both providers and patients throughout their entire healthcare journey, including electronic health records (“EHRs”), practice management, revenue cycle management, patient engagement, payment processing, and native AI integrations, all working together to enable more efficient medical practices. “We are thrilled to complete our investment in ModMed and begin our new partnership with Dan, Michael, Joe, and the ModMed team. We share a vision for ModMed’s next phase of growth, and believe our industry experience and value-add capabilities will strengthen and expand the ModMed platform,” said Behdad Eghbali, Co-Founder and Managing Partner, Prashant Mehrotra, Partner, and Paul Huber, Partner, at Clearlake. “With this investment completed, we look forward to partnering with the Company to leverage our O.P.S.® framework and accelerate the growth of ModMed’s AI-enabled software offering to deliver more value to customers, employees, and shareholders.”

Advisors Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC served as financial advisors to Clearlake. Sidley Austin LLP served as legal advisor to Clearlake. Goldman Sachs served as exclusive financial advisor, Kirkland & Ellis LLP served as legal advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as finance counsel to ModMed.

About ModMed At ModMed, we empower medical practices to grow and scale by delivering better patient experiences with cloud, data, and AI technologies. Leveraging extensive clinical data sets, we design intelligent software solutions to simplify, automate, and streamline clinical workflows and drive practice efficiency. With our specialty-specific EHRs, Practice Management, Revenue Cycle Management, and Analytics solutions, as well as products for patient engagement, payment processing, and marketing, we are trusted by over 40,000 providers to drive clinical and operational success. Learn more at modmed.com or our blog and connect via Facebook, LinkedIn, X (Twitter) and Instagram.

About Clearlake Capital Clearlake is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core private equity target sectors are technology, industrials, and consumer. Clearlake currently has over $90 billion of assets under management, its senior investment principals have led or co-led over 400 investments, and has deployed over $57 billion in liquid and illiquid credit investments globally. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, Dublin, Ireland, Luxembourg, Abu Dhabi, UAE and Singapore.

Contacts:

ModMed Media Contact: press@modmed.com

Clearlake Media Contact:

Jennifer Hurson

Lambert jhurson@lambert.com

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Argon & Co expands its presence into Germany

Bridgepoint

Bridgepoint portfolio company Argon & Co, the global management consultancy that specialises in operations strategy and transformation, is delighted to announce it has been joined by Advyce & Company.

Founded in 2014, Advyce & Company has consultants based across the DACH region (Germany, Austria and Switzerland). Its deep-rooted expertise in transformation and strategy is paired with a strong footprint in automotive, industrial, energy and utilities and financial services.

The merger will blend the regional market knowledge and trusted C-level advisory capabilities of Advyce & Company with Argon & Co’s strong global network and operations expertise.

Together, the two companies can support clients as trusted advisers within the DACH region, helping them navigate growth markets, optimise performance and manage industry consolidation, all while achieving sustainable value.

Burkhard Wagner, Co-CEO and Co-founder of Advyce & Company, joins Argon & Co as Partner in Germany. He says: “I firmly believe that our merge with Argon & Co is a strategic step towards creating a powerhouse in management consulting. By combining our deep expertise in transformation and restructuring, our innovative mindset and strong client relationships with Argon & Co’s global reach and excellence in operations consulting, we are building a firm that will set new standards in the industry.”

Marc Staudenmayer, Co-CEO and Co-founder of Advyce & Company, also joins Argon & Co as Partner. He comments, “When we founded Advyce in 2014, our ambition was to rethink consulting in the DACH region – with bold thinking, real impact and a strong entrepreneurial spirit. Today, as we join forces with Argon & Co, we are taking that ambition to the next level. Together, we’ll continue to challenge conventional thinking, stay close to our clients and drive lasting change – across industries and borders.”

Jean-François Laget, Group CEO of Argon & Co, says, “I am delighted to welcome Advyce & Company. This is a fantastic fit culturally and strategically, and their cross-industry expertise within the DACH region will help Argon & Co offer even greater value to clients locally and globally.”

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MaxContact Strengthens AI Capabilities Through Acquisition of Conversational AI Firm, Curious Thing

FPE Capital

We are pleased to announce that MaxContact, a leading provider of customer engagement solutions, today announced its acquisition of Curious Thing, a conversational AI platform.

MaxContact was FPE’s seventh investment from FPE Fund II, the firm’s second specialist software and services fund. The move will significantly enhance MaxContact’s current AI capabilities while maintaining the company’s commitment to balancing technology with meaningful human connections in contact centres.

Integrating Curious Thing’s advanced conversational AI platform into MaxContact’s existing suite of solutions will accelerate the company’s product roadmap and provide clients with more sophisticated tools to enhance customer experiences. It also represents an exciting next step that builds upon MaxContact’s established AI offering, particularly its Spokn AI platform, which currently provides advanced speech analytics that helps businesses understand the ‘why’ behind 100% of contact centre conversations. The recent launch of Success Intelligence, an enhancement to Spokn AI that reveals the DNA of successful sales conversations through AI-powered analytics, further demonstrates MaxContact’s ongoing commitment to innovation in this space. Curious Thing’s conversational AI technology will strengthen these capabilities with the introduction of AI agents for sales, debt collection and customer use cases.

Ben Booth, CEO of MaxContactThe strategic acquisition of Curious Thing represents a major milestone in our AI strategy. We’ve always believed that the best conversation outcomes come from empowering human agents with the right technology, not replacing them. Curious Thing’s AI abilities will therefore help our clients’ contact centre teams become more efficient while maintaining that crucial human connection. We’re seeing a significant shift in how UK businesses approach customer engagement and digital transformation. Our clients are looking for solutions that empower their teams with AI-driven insights and assistance while preserving the authenticity and empathy that human agents can provide. This acquisition positions us perfectly to meet that need.

Chris Kay, Partner at FPEWe are thrilled to support MaxContact as they take this next strategic step. The acquisition of Curious Thing not only strengthens MaxContact’s AI capabilities but also reinforces our commitment to backing ambitious, innovative software companies. MaxContact is well-positioned to deliver enhanced solutions to their clients and drive continued growth in this rapidly evolving space.

The FPE investment was led by Chris Kay, Dan Walker and Sam Greenberg. MaxContact was advised on the transaction by Stephenson Harwood and Corrs Chambers Westgarth (Legal).

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Sterimed welcomes IK Partners and new partners alongside its longstanding investors

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IK Partners

IK Partners (“IK”) is pleased to announce that it has invested in Sterimed Group (“Sterimed” or “the Group”), a leading provider of sterile medical packaging solutions, as part of a management-led consortium. The consortium includes long-term investor Sagard, which has reinforced its position by increasing its investment, as well as a club of new investors Société Générale CP, Geneo CE, Capza and Investir pour l’Enfance, under the name of “Friends of Sterimed”. The families and entrepreneurs who have historically invested in Sterimed have also all chosen to remain shareholders in the Group by joining the “Friends of Sterimed”. Financial terms of the transaction are not disclosed.

Founded in 2016 by CEO Thibaut Hyvernat, who led a carve-out from Arjowiggins, Sterimed has established itself as a leading integrated sterile flexible medical packaging player globally. Headquartered in Boulogne-Billancourt, Ile-de-France, the Group produces medical grade paper, film substrates and assembled packaging, such as pouches, bags and wraps, for medical device manufacturers (“MDMs”), hospitals and intermediaries known as convertors. Sterimed counts leading MDMs, as well as key hospital organisations, among its large and diversified client base.

In recent years and with the backing of Sagard, Sterimed has embarked on a strategy of internationalisation in markets beyond Europe, most notably China, Mexico and the US, via eight strategic acquisitions. At present, the Group has more than 1,500 employees across 14 production sites and 24 warehousing and sales offices.

With the support of the entire consortium over the next few years, Sterimed aims to drive continued organic growth by expanding globally into less penetrated markets, cross-selling new products to existing clients and leveraging synergies from recent acquisitions. The Company also plans to support innovation in core and new markets, pursue further acquisitions and enter strategic adjacent sectors such as Pharma and Life Sciences.

Thibaut Hyvernat, Chairman and CEO of Sterimed, said: “I am proud of the journey Sterimed has taken over the past eight years as well as the unique, entrepreneurial spirit we’ve managed to cultivate alongside rapid growth. We’d like to thank Sagard and our existing partners for their guidance while accompanying us on the journey and are pleased that they have chosen to renew their investment in the Group on this next phase of growth. We are very excited to welcome IK as a new partner to the Sterimed business as we aim to continue our growth in international markets. The IK team has a great deal of experience in the Healthcare sector, as well as a proven track record of supporting European businesses seeking global expansion.”

Vincent Elriz, Partner at IK Partners and Advisor to the IK X Fund, added: “We are delighted to partner with Thibaut, his team, Sagard and all shareholders as Sterimed embarks on its next phase of development. The Group has delivered strong growth in recent years through the expansion of its product portfolio for both MDMs and hospitals, as well as a targeted M&A strategy. With the IK Platform, we are confident in our ability to further support the Group’s growth trajectory, both organically and through strategic add-on acquisitions.”

Saïk Paugam, Partner at Sagard, commented: “We are extremely proud of Sterimed’s journey since our investment in 2019. Thanks to the combination of eight carefully integrated acquisitions and ambitious organic growth initiatives through sustained investments, Sterimed has consolidated its position as a world-leading medical sterilisation packaging player. This outstanding performance has been driven by both the expertise of an outstanding management team and the continued internationalisation of the business. We look forward to continuing to work with Thibaut and his team on this next stage of the Group’s story, with the added experience of IK.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0)7787 558 193
vidya.verlkumar@ikpartners.com

 

About Sterimed

Over the past five years, Sterimed has experienced sustained growth, both organically and through strategic acquisitions, increasing its revenue from €135 million to over €300 million. This success has been driven by more than 1,500 highly committed employees, more than half of whom are shareholders in the group. Sterimed is now among the global leaders in medical packaging and aims to reach €600 million in revenue by 2030 while advancing its vision: “Pioneering a responsible medical packaging industry, we work together for the highest patient safety.” Its ambition remains unchanged: to serve all its customers—medical device manufacturers, hospitals, the pharmaceutical industry, and specialized packaging companies—with the highest quality and ever-greater patient safety. For more information, visit sterimed.fr

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About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €19 billion of capital and invested in over 200 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com

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About Sagard

Sagard is a French investment fund that provides equity capital to support the development of mid-sized companies led by ambitious teams. Founded in 2003 with the support of the Desmarais family, Sagard’s investors include leading industrial families and top-tier institutional investors. Since its creation, Sagard and its team of 14 professionals based in Paris and Milan have invested in 50 industrial and services companies in France. For more information, visit www.sagard.eu

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Sale Of Shares In Netel Holding AB

IK Partners

Cinnamon International S.à r.l. (whose majority shareholder is the IK VII Fund) (“IK Partners”) has successfully completed the sale of 22,641,829 ordinary shares in Netel Holding AB (publ), equal to approximately 46.7 percent of the share capital and votes of Netel, at a price of SEK 8.50 per share.

The shares were sold to a broad group of investors, including among others Etemad Group AB, Netel’s CEO and President Jeanette Reuterskiöld and CFO Fredrik Helenius. Other investors participating in the sale include, among others, TAMT AB, Stefan Lindblad, S- bolagen AB, Santhe Dahl Invest AB, Bernt Ivarsson and Cicero Fonder.

“We would like to thank IK Partners for their support during Netel’s growth journey,” says Alireza Etemad, Chairperson of Netel. “I am pleased to see strong commitment and trust from Board members, management, as well as new and existing shareholders for the future of Netel. We look forward to supporting Netel as it continues to deliver on its strategy as a leading specialist in critical infrastructure in Northern Europe.”

Following the sale, IK Partners no longer holds any shares in Netel.

Polar Advisory acted as Sole Manager and Bookrunner in the sale.

Contacts

Jeanette Reuterskiöld, President and CEO, +46 (0) 702 28 03 89, jeanette.reuterskiold@netel.se
Fredrik Helenius, CFO, +46 (0) 730 85 52 86, fredrik.helenius@netel.se
Åse Lindskog, IR, +46 (0) 730 24 48 72, ase.lindskog@netelgroup.com

About Netel

With 25 years of experience, Netel is a leader in the development and maintenance of critical infrastructure within Infraservices, Power and Telecom in Northern Europe. We are involved in the entire value chain from design, production and maintenance of our customers’ facilities. We are dedicated to securing an accessible and reliable future, where technology unites and transforms society. Netel reported net sales of SEK 3,300 million in 2024 and the number of employees in the group is about 840. Netel is listed on Nasdaq Stockholm since 2021. Read more at netelgroup.com.

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CapMan Real Estate launches Leona, a new Nordic residential concept

CapMan Real Estate launches Leona, a new Nordic residential concept

CapMan Real Estate has launched Leona, a new Nordic rental housing concept designed to provide Effortless Living to its clients. Leona, launched in May 2025 in Finland and set to expand to Denmark and Sweden in the near future, focuses on client experience and ease of living by utilising modern digital solutions. What differentiates Leona from the competition is the combination of quality housing, a user-friendly tenant app, an increased service offering, and the flexibility to move between Leona homes.

At the heart of Leona is the goal of making tenants’ everyday life more effortless and enjoyable. Clients will benefit from the MyLeona digital platform and mobile tenant application, which allow for the effortless management of all aspects of rental housing, from parking space and sauna bookings to club and laundry room reservations, as well as interactive maintenance requests. The Leona Plus programme, developed in collaboration with CaPS Procurement Services, offers exclusive benefits for clients, including practical housing-related services that support everyday living, along with wellness and travel benefits. Furthermore, Leona Flex enables tenants to transition smoothly between Leona apartments, ensuring their home can adapt to their changing needs and circumstances.

“Leona represents our ambition to reshape rental living to better serve the needs of a modern Nordic client. We believe that a highly digitalised and user-friendly tenant platform coupled with a market-leading service offering will drive occupancy, tenant retention and client satisfaction across our growing residential portfolio,” shares Ilkka Tomperi, COO and Partner at CapMan Real Estate.

CapMan Real Estate is a Nordic property investor managing approximately €5.5 billion in real estate assets (GAV), with a team of over 80 professionals located in Helsinki, Stockholm, Copenhagen, Oslo, London and Jyväskylä.

For more information, please contact:

Ilkka Tomperi, COO & Partner, CapMan Real Estate, ilkka.tomperi@capman.com

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6.4 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

Categories: News

Lido Advisors Enters into Strategic Partnership with HPS to Support Continued Growth

Charlesbank

LOS ANGELES – May 21, 2025 – Lido Advisors (“Lido”), a leading wealth advisory firm with over $30 billion in assets under management, today announced a strategic partnership with investment funds managed by HPS Investment Partners (“HPS”), a leading global alternative investment firm with approximately $150 billion in AUM. HPS joins Lido’s existing partner Charlesbank Capital Partners (“Charlesbank”) and more than 135 Lido employee-owners to support the firm’s continued growth and long-term vision.

Founded in 1999 and headquartered in Los Angeles, Lido delivers a personalized, family office-style experience to high-net-worth individuals, families, and institutions – offering a holistic approach to wealth advisory that includes investment management, estate and tax planning, and access to alternatives strategies. With the support of Charlesbank, Lido has significantly scaled its business, driven by a mission to help clients grow and protect their legacies. Lido’s new partnership with HPS further enhances the firm’s ability to strategically expand its business over the long term.

“This partnership with HPS marks an exciting new chapter for Lido, and we are extremely well positioned to continue our momentum delivering for our clients and team,” said Jason Ozur, CEO of Lido. “I’m incredibly proud of the growth we’ve achieved the past four years while staying true to our client-first values. Lido’s success has been a true team effort, and I’m especially happy for our more than 135 employee-owners, many of whom joined us through mergers, believing in our mission and growth trajectory. Seeing their commitment rewarded is one of the most fulfilling parts of this journey.”

“We are thrilled to partner with the HPS team. Their collaborative approach and long-term vision align perfectly with our goals, and we’re eager to begin this next phase of growth together,” added Mr. Ozur. “We are deeply grateful to Michael Choe, David Katz, Mutian Rui, Andrew Jackman, and the entire Charlesbank team for their exceptional partnership over the past four years. Their strategic guidance and alignment with our values played a critical role in our success, and we look forward to entering Lido’s next phase together.”

Charlesbank will continue its partnership with Lido. “Lido’s growth has been extraordinary, and we want to congratulate Jason, Ken, and the entire Lido team on their accomplishments,” remarked Michael Choe, Managing Director & CEO of Charlesbank. “We are pleased to welcome HPS as Lido begins this new chapter.” David Katz, Managing Director of Charlesbank, added, “Lido has made extensive investments in its team and capabilities in recent years, establishing the firm as a standout in the wealth management space. We’re excited to continue our partnership as Lido builds on its innovative strategies and differentiated client-first service model.”

Ken Stern, President of Lido, concluded, “Our new partnership with HPS validates the strength of our platform and underscores the significant opportunities ahead. Lido is extremely well positioned to continue growing and enhancing the services we can provide our clients.”

Ardea Partners LP served as lead financial advisor, and William Blair & Company LLC served as financial advisor to Lido. Houlihan Lokey and Piper Sandler & Co. also provided financial advice. Ropes & Gray LLP served as legal counsel to Lido and Charlesbank. Herrick, Feinstein LLP and Willkie Farr & Gallagher LLP also provided legal advice. Sidley Austin LLP served as legal counsel to HPS.

The transaction is expected to close in the third quarter of 2025.

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