Category Archives: News

Royal Buisman acquired by Nactarome

Bencis

Amsterdam – On 31 March 2023, the shareholder of Royal Buisman (or the “Company”) entered into a definitive agreement to sell the Company to Nactarome. The sale follows the carve-out of Royal Buisman from its ultimate parent Prinsen Berning, a portfolio company of Bencis Capital Partners. Current management will continue in its position and looks forward to the next growth journey together with its new partner.

Royal Buisman is an established producer of natural caramelised ingredients for the food and beverage industry.
International customers use its products to improve the taste and intensify the natural colour of their products.

Headquartered in Zwartsluis, The Netherlands, Royal Buisman leverages 150 years of knowledge and expertise
in the field of caramelised sugars, enriching sugars into 100% pure and natural caramel ingredients for B2B food
and beverage producers. The Company produces dry powder and liquid caramel ingredients that strengthen the
‘signature’ of a wide range of bakery, instant hot drinks, meat, meat replacers and savoury food products as well
as (alcoholic) beverages. Royal Buisman’s products deliver taste, aroma, colour and texture enhancement to its
customers, providing a unique experience for end-consumers and a cost-effective and natural ’’clean-label” alternative.

Royal Buisman was acquired in 2016 by Prinsen Berning, a group that is ultimately controlled by Bencis Capital
Partners. While the coffee powder business of Royal Buisman was integrated within the group, the natural
caramelised ingredients production remained in Zwartsluis as an independent subsidiary. Since the focus of the
group shifted to the B2B active nutrition segment, Prinsen Berning decided to sell Royal Buisman.

With the acquisition, Nactarome further broadens its product assortment of natural ingredients for speciality
products. Furthermore, the company strengthens its customer base with blue-chip food and beverage
companies, who are primarily based in Europe. Royal Buisman and Nactarome envisage strong collaborative
opportunities in several end-markets as well as diversifying the customer base of the Company. Nactarome has
a strong foothold in Asian markets, that Royal Buisman could benefit from.

The sale of Royal Buisman was overseen by Squarefield, a Food & Agri focused corporate finance advisor with
offices in Amsterdam, Frankfurt, and Antwerp.

Robert Hoopman – CEO Royal Buisman: “The Buisman team is excited to become part of the Nactarome group,
an organisation that is well-known in the market for its focus on high-quality natural ingredients. Our products
are complementary to the existing assortment of Nactarome and we share the same values and strategy. We are
thankful for Squarefield’s long-term support and in-depth knowledge of the ingredients market.”

Renske Vriend – Investment Director Bencis Capital Partners: “This transaction benefits the strategy of both
parties involved. On the one hand Prinsen Berning can have a more focused approach on the active nutrition
market, and on the other hand, Royal Buisman can continue its strategy of offering high-quality natural
ingredients to global blue-chip customers as part of a dedicated functional ingredients supplier. Our cooperation
with Squarefield went as expected, Squarefield is a long-term partner to Bencis in global food and agri.”

 

About Royal Buisman

Royal Buisman (www.royalbuisman.com) is a supplier of natural caramelised ingredients for the international
food and beverage industry. The Company is a market leading expert in natural, clean label caramel ingredients
that are used in bread, hot drinks, savoury & convenience, fine bakery and meat & meat replacer products. Royal
Buisman is headquartered in Zwartsluis, The Netherlands.

About Nactarome

Nactarome (www.nactarome.eu) is a producer of colours, flavours and ingredients for the food, beverage and life
sciences industries. It has a strong European presence with specialised manufacturing plants and commercial
offices and serves over 4,500 customers across 100 countries worldwide. The company employs more than 500
employees worldwide and is headquartered in Milan, Italy. Nactarome is a portfolio company of TA Associates, a
US-based private equity fund with offices around the world.

About Bencis Capital Partners

Bencis is an independent investment company that supports business owners and management teams in
achieving their growth ambitions. Working out of offices in Amsterdam, Brussels and Düsseldorf, Bencis has been
investing in strong and successful businesses in the Netherlands, Belgium and Germany since 1999.

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FiVerity Announces $4 Million Financing Round to Launch Anti-Fraud Collaboration with Banks and CUs

Fin Capital

Appoints Veteran Banking Investor John Clausen to Board of Directors 

BOSTON – April 20, 2023—FiVerity, creators of the Anti-Fraud Collaboration platform, today announced a $4 million seed financing round, led by Mendon Venture Partners, a venture capital investment and strategic advisory firm focused on the intersection of financial technology companies and traditional banks. Joining Mendon on the cap table are FinCapital, Mendoza Ventures, Service Provider Capital, and Grasshopper Bank.

john_clausen

As part of the investment, John Clausen, a Partner at Mendon Venture Partners, veteran financial services investor, and former N.Y. Federal Reserve Bank regulator, will join FiVerity’s board of directors.

“Financial institutions are under attack from fraudsters who are upping their game by employing increasingly sophisticated tactics, resulting in significant financial losses, reputational damage, and compliance risks,” said Clausen. “We strongly agree with FiVerity’s view that stopping fraud requires a twofold approach that combines actionable intelligence and a collaborative model, enabling businesses to act swiftly. Now, with this infusion of capital, the team can continue evolving its offerings to keep customers ahead of the ever-evolving digital fraud landscape.”

According to Alloy’s Annual State of Fraud Benchmark Report, 91% of respondents said that fraud rates have increased at their organization year-over-year. But this growth is only part of the challenge. Fraudsters have also steadily increased their use of sophisticated automation and AI-based tools, making it far more difficult for financial institutions to quickly identify incidents of fraud. The failure to quickly identify and stop fraud can result in legal repercussions and the loss of important customer relationships.

With this investment, FiVerity will expand its network of information providers and data, while introducing advanced machine learning algorithms. These will identify the methods fraudsters are using, and compare patterns against those within a financial institution’s systems. It is through this unique approach that FiVerity not only accelerates the detection of fraudulent accounts, but the sharing of these threats within the larger financial community in order to protect personally identifiable information (PII) and stop these activities before significant damage is inflicted.

FiVerity has worked closely with financial institutions, regulators and organizations such as the U.S. Federal Reserve and FinCEN throughout the development of its innovative Anti-Fraud Collaboration platform to better understand the needs of the industry and ensure they can be addressed through its solution. FiVerity led a team in the 2022 FDCI/FinCEN Tech Sprint that was recognized as the top solution for effectiveness and impact in digital identity proofing for remote customers.

“Fraudsters have become increasingly innovative, turning to new AI and automation techniques to successfully deceive financial institutions into granting loans, opening accounts, and approving transactions,” said Greg Woolf, CEO of FiVerity. “This latest investment provides the additional resources needed to expand our offerings with new real-time collaboration and information capabilities that allow financial institutions to take a proactive approach to fraud detection – identifying fraudulent activity before it impacts their business, like an ‘antivirus for fraud’.”

Financial institutions, data providers, government agencies, and other stakeholders interested in learning more about the Digital Fraud Network can visit www.fiverity.com or contact info@fiverity.com.

About FiVerity
FiVerity’s mission is to fight fraud with the power of collaboration. The FiVerity Anti-Fraud Collaboration platform enables real-time information sharing among financial institutions, data providers, and anti-fraud solutions through the anonymized exchange of fraud intelligence. FiVerity accelerates the detection and prevention of both known and unknown fraud, delivering proactive alerts, transparent risk scoring, and automated fraud classification. Government regulators have recognized FiVerity’s unique approach to fighting fraud for its effectiveness and impact in reducing industry-wide fraud. For more information, visit www.fiverity.com and follow us on LinkedIn and Twitter.

About Mendon Venture Partners
Mendon Venture Partners is a venture capital investment firm focused on the intersection of innovative technology and traditional banks. Mendon Ventures BankTech Fund is dedicated to investing in technologies that predominantly serve incumbent regional and community banks across foundational pillars of financial services including data & analytics, automation, payments, core banking & processing, and risk & compliance. Mendon Ventures intends to realize and add value through its unique approach, aligned partnerships, rigorous analytics, and trusted advisory role among market participants.

Media Contact:
Jeff Drew
Guyer Group for FiVerity
fiverity@guyergroup.com  
P: (617) 233-5109

SOURCE: FiVerity

Categories: News

Aspia accelerates international expansion with new acquisition in Norway

IK Partners

Stockholm 2023-05-04 – Aspia acquires Prokuria Polar, Norwegian accountancy group specialized in accounting, payroll and business advisory.

Aspia is a leading business partner in accounting, payroll, tax and business advisory and has been operating in the Nordic market since 2018. Aspia now strengthens its offering with the acquisition of Prokuria Polar.

Prokuria Polar is a fast-growing Norwegian service provider represented in several Norwegian cities. They are specialized in accounting, payroll and business advisory.

Prokuria Polar will become part of Aspia and thereby strengthening Aspia’s existing Nordic offering and scaling up its presence in the Norwegian market.

Ola Gunnarsson, CEO at Aspia stresses that there is an increased demand for Nordic solutions among both Swedish and Nordic companies. The acquisition of Prokuria Polar will strengthen Aspia’s offering of day-by-day accounting and financial reporting as well as advisory services. “We recognize a growing complexity as companies expand from national to a Nordic or international market. This acquisition makes us at Aspia a reliable business partner that can support businesses’ growth journey and assure both value and confidence in this process. I value that Prokuria Polar, just like Aspia, has a perfect combination of both people and technology”, says Gunnarsson and adds: “They also believe in automation and digitalization, while striving to deliver the most advanced advisory offering on the market.”.

Together with Aspia, Prokuria Polar will continue to be a local and digital partner that delivers the markets best offering to their clients.

Aspia, including the newly acquired Prokuria Polar, will form a solid cornerstone for continued growth in the Nordic market as a leading business partner in accounting, payroll & HR, business advisory and tax.

For further information:

Pia Törnqvist
CMO Phone: +44 (0) 7787 558 193
pia.tornqvist@aspia.se
+46 706 897 659

Categories: News

Ardian acquires majority stake in LIFTKET

Ardian

Acquisition will support the leading supplier of electric chain hoists and control systems to accelerate its international growth plan.

Ardian, a world-leading private investment house, has acquired a majority stake in LIFTKET Group (“LIFTKET”) from Afinum, to support the company’s growth strategy.

As part of the transaction, LIFTKET’s management team, led by CEO Jürgen Dlugi, will reinvest significantly. Afinum will continue to support the company as a minority shareholder.

Founded in 1948 in Wurzen, Germany, LIFTKET is a leading European supplier of electric chain hoists and control systems for sensitive uses. Today, the company employs 300 people across the development, production and sale of its products, which meet the highest safety standards. The group operates internationally and serves over 800 customers in Europe, North America and other selected countries and regions.

The company is grouped into three verticals: Stage, Industrial and Renewables. Its Stage division includes LIFTKET’s ChainMaster and Movecat brands, which manufacture electric chain hoists, complex kinetics systems and control systems for almost any stage setting, including conference halls, open-air events, sports arenas, theatres and amusement parks.

It’s Industrial division primarily serves SMEs, offering tailor-made electric chain hoists for a wide range of applications. Its modular approach to manufacturing ensures LITKET’s products are fully adapted to the individual requirements of each customer. The Renewables division focuses on wind turbine maintenance, serving major wind turbine manufacturers, who together account for a large share of the world’s installed wind power capacity.

The company will continue to be led by CEO Jürgen Dlugi and the experienced management team. With the support of Ardian and Afinum, LIFTKET plans to solidify its position as a market leader in Europe and North America, and expand its market share in Asia. Its growth strategy will focus on enhancing its product range with more complex control solutions, increasing its customer base and targeting select acquisitions in key markets.

“LIFTKET has become a leading player in the European market through the absolute reliability, durability and safety of our products. Based on our strong competitive position and innovative products, as well as the fundamental growth of our customer markets, we continue to see significant growth potential for our company. In Ardian, we have found a partner that will actively support us in realizing this potential. We look forward to working with Ardian and would like to thank Afinum, who will continue to accompany us as a minority investor, for their continued trust.“ Jürgen Dlugi, CEO of LIFTKET

“LIFTKET stands out for its long history of organic growth. Led by an experienced management team with highly motivated employees, its customers value the outstanding product quality, demonstrated by a very high level of customer satisfaction. The electrical chain hoists are used in critical applications where failure would involve significant safety risks or long downtimes of equipment. Combined with the company’s strong performance, its broadly diversified customer base, which operates in growing markets such as the stage sector, and the fragmentation of its international markets, has created significant growth opportunities. We look forward to working with the management team through this exciting period of expansion.”
Marc Abadir, Managing Director, Expansion at Ardian

LIST OF PARTICIPANTS

  • Ardian:

    • Marc Abadir, Yannic Metzger, Nicolas Münzer, Vanessa Pitko

  • Financial:

    • Deloitte (T. Fehr / N. Nobereit)

  • Commercial:

    • Bain & Co. (F. Müller / H. Lamché / F. Piotrowski)

  • Legal Corporate / M&A:

    • Latham & Watkins (B. Hesse / S. Pauls / S. Decker / S. Süss)

  • Legal Financing:

    • Willkie Farr & Gallagher (J. Wilms / C. Clerihew)

  • Tax Structuring / DD:

    • Taxess (G. Thomas / R. Schäfer)

  • ESG:

    • PwC (M. Göbbels / J. Spaleck / J. Braun)

  • Debt Advisory:

    • Network Corporate Finance (S. Voigt / N. Rusch)

  • M&A:

    • William Blair (D. Felsmann / M. Brune)

ABOUT LIFTKET

LIFTKET was founded in Wurzen in 1948 and today is a European market leader in electric chain hoists and associated control systems for critical applications. On the company premises near Leipzig, around 300 employees currently develop, produce and sell electric chain hoists for the three business units Stage, Industrial and Renewables as well as tailor-made solutions for niche applications. The group operates internationally and serves over 800 customers worldwide.

liftket.de

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

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SunPower Secures $550M Loan Purchase Commitment From KKR

KKR

RICHMOND, Calif., May 3, 2023 /PRNewswire/ — SunPower (NASDAQ:SPWR), a leading residential solar technology and energy services provider, and KKR (NYSE: KKR), a leading global investment firm, today announced that they have signed a definitive agreement under which credit funds and accounts managed by KKR will commit to purchasing $550 million of solar energy loans made to SunPower customers.  This transaction, which is subject to customary post-closing conditions, will support SunPower Financial’s continued ability to offer attractive loan options to its customers.

“With the closing of this transaction, we have raised sufficient capital year-to-date to fund a total of $1 billion of incremental solar loans for SunPower’s customers.  As demand continues to rise, we expect this additional capital will power our loan bookings volume into 2024 and enable SunPower to increase access to the benefits of solar for more homeowners” said Guthrie Dundas, interim CFO of SunPower.

“Residential solar is a key area of focus for our Asset-Based Finance business,” said Avi Korn, Managing Director at KKR. “We look forward to supporting one of the industry’s leading platforms to provide solar and energy services through this transaction.”

SunPower launched SunPower Financial™ in 2021 to help make switching to solar even easier. With SunPower Financial, SunPower offers a seamless solution for purchasing solar and other home energy services through a single provider, including design, sales, installation, warranty and financing. In 2022, SunPower’s loan business grew 99% year-over-year.

About SunPower  
SunPower is a leading solar and energy services provider in North America. SunPower offers solar + storage solutions designed and warranted by one company that give customers control over electricity consumption and resiliency during power outages while providing cost savings. For more information, visit www.sunpower.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 and on Twitter @KKR_Co.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding expected business plans, customer financing offerings and capabilities, expected demand and our ability to meet it, and cost savings. These forward-looking statements are based on our current assumptions, expectations, and beliefs and involve substantial risks and uncertainties that may cause results to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, regulatory changes and the availability of economic incentives promoting use of solar energy and fluctuations or declines in the performance of our solar panels and other products and solutions. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent report on Form 10-K, particularly under the heading “Risk Factors.” Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpowercorp.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.

SOURCE SunPower Corp.

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KKR to Acquire CoolIT Systems

KKR

Investment to Support Company’s Growth as Demand for Energy-Efficient Data Center Cooling Grows

CALGARY, Alberta & NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, and CoolIT Systems (“CoolIT” or the “Company”), a leading provider of scalable liquid cooling solutions for the world’s most demanding computing environments, today announced the signing of a definitive agreement under which KKR will acquire CoolIT. The investment will support the Company’s ability to scale and serve its global customers across the data center market, including the enterprise, high-performance computing, and cloud service provider segments as well as in desktop computing.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230502006157/en/

Founded in 2001, CoolIT designs, engineers and manufactures advanced liquid cooling solutions for the data center and desktop markets. CoolIT’s patented Split-Flow Direct Liquid Cooling technology is designed to improve equipment reliability and lifespan, decrease operating cost, lower energy demand and carbon emissions, reduce water consumption and allow for higher server density than legacy air-cooling methods.

“Our business has evolved tremendously over the past few years and today we are proud to be one of the most trusted providers of liquid cooling solutions to the global data center market,” said Steve Walton, Chief Executive Officer of CoolIT. “KKR shares our perspective on the significant opportunity ahead for liquid cooling. Having access to KKR’s expertise, capital and resources will put us in an even better position to keep scaling, innovating and delivering for our customers.”

Kyle Matter, Managing Director and Head of KKR’s Global Impact team in North America, said, “Increasing data and computing needs are on a collision course with sustainability considerations – the data center industry is expected to consume 8% of the world’s energy by 2030.1 As a firm, we have committed more than $17 billion to digital infrastructure since 2011 and deeply appreciate the mission critical role that it plays in enabling our economy. We also recognize that as a society, we are grappling with the enormous energy usage and related environmental impacts that are only expected to accelerate with the rise of AI and other high performance applications. We believe that liquid cooling has a critical role to play in helping to reduce the emissions footprint of our digital economy and we are thrilled to back CoolIT, a leader in this space.”

Evan Kaufman, Director at KKR, added, “By combining our manufacturing and decarbonization expertise with CoolIT’s track record of product innovation, we expect to further scale its best-in-class direct liquid cooling solution to meet the anticipated demand for higher density, more energy efficient data centers. Importantly, we look forward to working with Steve and the entire CoolIT management team to invest additional capital and resources into expanding its cooling solutions across new applications, customers and end markets.”

As part of this transaction, CoolIT will expand its equity ownership program to make all employees owners of the Company. This strategy is based on the belief that employee engagement is a key driver in building stronger companies. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 50,000 non-management employees across nearly 30 companies.

KKR is investing in CoolIT through its Global Impact strategy, which is focused on identifying and investing behind opportunities where financial performance and societal impact are intrinsically aligned. Specifically, the strategy focuses on investing in companies that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals (“SDGs”). CoolIT directly supports SDG 7 (Affordable and Clean Energy), 9 (Industry, Innovation and Infrastructure) and 13 (Climate Action).

The transaction is expected to close in the second quarter of 2023, subject to regulatory approvals and customary closing conditions.

About CoolIT Systems

CoolIT Systems specializes in scalable liquid cooling solutions for the world’s most demanding computing environments. In the enterprise data center and high performance computing markets, CoolIT partners with global leaders in OEM server design to develop efficient and reliable liquid cooling solutions for their own leading-edge products. In the desktop enthusiast market, CoolIT provides unparalleled performance for a range of gaming systems. Through its modular, Direct Liquid Cooling technology, Rack DLC™, CoolIT enables dramatic increases in rack densities, component performance and power efficiencies. Together, CoolIT and its partners are leading the way for widespread adoption of advanced cooling technology. For additional information on CoolIT Systems, please visit CoolIT’s website at www.coolitsystems.com and on LinkedIn at http://www.linkedin.com/company/coolit-systems-inc-.

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 Twitter @KKR_Co.

________________________________
1 “On Global Electricity Usage of Communication Technology: Trends to 2030,” Challenges, 2015.

Media:
For CoolIT:
Brandon Peterson, SVP Product and Caroline Penrose, Director, Business Development
403-235-4895
media@coolitsystems.com

For KKR:
Julia Kosygina and Emily Cummings
212-750-8300
media@kkr.com

Source: KKR

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Woven Capital, Nvidia back Foretellix’s autonomous vehicle validation tech

83North logo

Foretellix

Startups working on driverless cars fully may no longer attract the kind of nine-figure acquisition or funding offers that were prevalent just a few years ago. But there are still pockets within the broader automated vehicle technology sector that have captured the interest and investment of strategic investors.

“We’re looking for solutions that can integrate into our own tool stack,” Betty Bryant, a principal at Woven Capital, Toyota’s growth fund, told TechCrunch. “So a company that can provide a menu of options or just provide a specific piece of the stack, instead of a full stack company,” which Bryant says is “not really an attractive model or solution for OEMs anymore.”

One such company Woven has strategically invested in is Foretellix, an Israeli startup that gives other companies the tools to verify  autonomous vehicle technology at any level. This capability, says Bryant, is essential for safety validation so that companies can actually commercialize and scale everything from Level 2 advanced driver assistance systems (ADAS) to Level 4 autonomous technology.

(According to the Society of Automobile Engineers, Level 2 systems automate two primary functions — maintaining speed and distance on a highway and keeping the vehicle in lane — and still have a human driver in the loop at all times. Level 4 systems mean the vehicle can handle all aspects of driving in certain conditions without human intervention.)

Woven Capital, alongside Nvidia and Artofin VC, participated in the first closing of Foretellix’s $43 million Series C, which was led by 83North.

Ziv Binyamini, CEO at Foretellix, said the company will use the funds to continue to invest in the deep technology needed to verify autonomy while hiring sales teams to help the company expand across more geographies. Foretellix already has around 150 employees spread across Israel, California, Detroit, Germany, Sweden, China and Japan.

“We need to beef it up because demand is growing significantly,” Binyamini told TechCrunch.

At a high level, Foretellix’s offerings can be boiled down to two core technologies: Scenario generation and big data analytics.

Every company building autonomous vehicle technology tests their systems in simulation against various scenarios geared toward finding edge cases. Foretellix’s technology automatically generates “an unlimited number of variations of scenarios” that companies can use, according to Binyamini.

“We also complement that core technology with libraries of what we call content,” he said. “Libraries of scenarios, libraries of KPIs. So if you’re developing ADAS, we have libraries for all the dysfunctions like automatic emergency braking, for example. For each such dysfunction, we also have a library of all the relevant scenarios and associated KPIs or metrics.”

Once a company tests a system, either virtually against generated scenarios or physically on real roads, they then have to analyze the results, which is the second core technology Foretellix offers.

Some of Foretellix’s biggest customers are Daimler Trucks and Volvo Group, both of which are building autonomous trucks. The company also works closely with Nvidia by integrating into its Drive SIM platform, Nvidia’s end-to-end simulation platform. Last September, Nvidia said Drive SIM got a new suite of AI tools to help test and develop self-driving vehicles.

“Nvidia is an infrastructure provider for the whole economy, from the hardware to the software to the simulator to a full software stack,” said Binyamini. “Our solution is complementary to their offering because in the end, to build a full-blown autonomous system, you need to validate it. It’s one of the biggest, probably the biggest remaining challenge, to get autonomy to commercial, scalable deployment.”

In a similar vein, Bryant said Woven by Toyota (formerly Woven Planet) is partnering with Foretellix because the startup’s solution complements Woven’s technology in-house. The mobility technology subsidiary is working on both ADAS and L4 technology, according to Bryant.

“Foretellix has found an interesting niche area in the simulation space,” said Bryant. “Foretellix is not a simulation company, but it’s supporting simulation work. And I find that other players might be trying to work on building robust verification technology, but no one has quite the focus and depth of technology that Foretellix does.”

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Altano Group expands its activities into the USA

Ufenau

Dear Investors, Pfäffikon SZ, April 2023

Partners and Friends of Ufenau Capital Partners and the Altano Group,
We are delighted to announce that the Altano Group has acquired Avanti Equine Veterinary Partners (“Avanti”).
Avanti is the leading – exclusively specialized in equine medicine – clinic group in the United States. Founded in 2017 with a focus on sustainable veterinary medicine, the group expanded its footprint from the east- to west coast over the past 5 years.

With more than 190 employees, including over 50 vets, Avanti is an ideal strategic fit for the Altano Group to roll out its philosophy globally. “As an international pioneer for modern & sustainable veterinary medicine, Altano stands for professionalism, welfare and outstanding medical quality. These basic principles match the one’s of Avanti: practicing veterinary medicine with integrity and transparency, and serving both patients and clients with excellence.”- Lisa Floyd, COO Avanti.
With the acquisition of Avanti, the Altano Group aims to become the leading equine clinic group, serving more than 100’000 clients in 7 countries globally.
Dieter Scheiff, Managing Partner at Ufenau, views Avanti as “the best, scalable platform and the ideal basis for Altano’s market entry into the United States. We see a strong continued potential for future organic growth and further Add-On acquisitions in the US-market, which is why this lighthouse investment is such an important step both for Altano and Ufenau. Together, Altano and Avanti will form a neverseen knowledge sharing platform to accelerate research and promote sustainable medical progress in the field of equine medicine.”
Dr. Victor Baltus, CEO Altano Group, adds that “together with the current Avanti team, Altano wants to expand the local market presence, invest into the clinics and staff and further enhance specialization across the group. We always remain true to our promise: animal health and welfare our priority! Without the help of Ufenau, this expansion of the Altano Group outside Europe would not have been possible. ”
Your Ufenau Team

About the Altano Group
In 2017, the Altano Group was found, as part of the management buyout of the highly renowned clinic “Tierärztliches Kompetenzzentrum Karthaus”, which served as the platform to enter the highly regulated and fragmented market. Today, the Altano Group comprises of more than 50 clinics and practices throughout Europe and the USA. Driven by its entrepreneurial management and more than 1’500 employees, the Altano Group offers the full spectrum of veterinary services, to a diversified customer base of >100’000 clients with >150’000 animals treated per year. Altano stands for the highest medical standards, a sustainable business model, excellent customer service and the employer.

About Ufenau Capital Partners
Ufenau Capital Partners is a privately-owned Swiss Investor Group headquartered at Lake Zurich which advises private and institutional investors with their investments in private equity. Ufenau Capital Partners is focused on investments in service companies in German-speaking Europe, Iberia and the Benelux region and invests in Education & Lifestyle, Business Services, Healthcare, IT Services and Financial Services sectors. Since 2011, Ufenau invested in over 300 service companies in Europe. Through a renowned group of experienced Industry Partners (owners, CEOs, CFOs), Ufenau has an active value-adding investment approach at eye-level with entrepreneurs and managers. Ufenau raised its seventh flagship fund with a volume of EUR 1.0bn and advises capital of EUR 2.5bn.
Altano Group expands its activities into the USA

Ufenau Capital Partners AG
Huobstrasse 3
CH 8808 Pfäffikon, Schwyz
www.
ucp .ch

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Innovad to acquire Herbonis to strengthen natural specialty feed ingredients portfolio

IK Partners

Antwerp – Innovad®, a leading provider of animal nutrition and health solutions, is pleased to an- nounce that it is acquiring all the shares of Herbonis a Swiss-based company and its affiliates, including Wyreside in the UK. The acquisition aims to strengthen Innovad’s portfolio of natural speciality feed ingredients and align with its strategy of expanding into primary ingredients. Herbonis is recognised as a leader in a niche market and Panbonis, a product containing the plant-based source of the metabolic active form of Vitamin D, represents a unique and highly technical product with proven health benefits in poultry, swine and dairy. From its inception, Innovad has been formulating its products with plant- based ingredients and this acquisition will strengthen its position — adding capacity and knowledge to support the growth in its botanicals, nutraceuticals product portfolio.

Ben Letor, Innovad CEO: “We view Herbonis as a high quality and recognised leader operating in a niche market. Herbonis has an impressive track record, dedicated team, independent mindset, and outstanding know-how on botanicals. Herbonis Group highly scientific and plant-based proposition matches perfectly with Innovad’s strong strategic commitment to becoming the centre of excellence and knowledge in phytogenic and plant-based products. Natural solutions represent a megatrend in our industry to address sustainability objectives as well as consumer demand, provided that such plant-based alternatives are well-researched, well-documented, cost-effective and with the lowest carbon footprint.”

Raetus Boehlen, Herbonis CEO: “Having deep understanding of bioactive plants with proprietary analytical tools, Herbonis has succeeded in bringing to the market an effective 100% plant-based technology. Panbonis has demonstrated its performance and return through its strong customer base & partnership. Many publications and outstanding scientific dossier evidence its unique mode of action. Being able to include Panbonis as part of Innovad’s broader product portfolio will allow Herbonis to tap into new entry points with a broader customer base. It was essential for the owners of Herbonis to hand the company to a group that would continue to invest, support and recognise the value of Herbonis and its team.”

Massimo Neri, Innovad Director Europe: “We are highly motivated to combine Herbonis with Innovad. We believe that Innovad’s strong sales organisation, well-established European footprint and global commercial network perfectly fits with our strategy of delivering the Panbonis brand more directly to end users. With a presence in 75 countries, we expect Innovad’s platform to help accelerate brand awareness and market access for Herbonis’s products. Together, we can create a strong portfolio of innovative and sustainable solutions which will support animal health and welfare.”

Remko Hilhorst, Managing Partner at IK Partners and Advisor to the IK IX Fund: “In today’s volatile environment, it is exciting to be adding Herbonis to Innovad’s product portfolio as we continue to work with the management team to unleash its plan for further sustainable growth. We hope this will help establish the Innovad Group as a global primary producer and leader focused on botanicals, biomonitoring programmes and specialised in feed solutions.“

About Innovad

Innovad is a leading provider of animal nutrition and health solutions. The company offers a wide range of innovative and sustainable solutions to the livestock industry. Its patented, innovative Myco-marker® biomonitoring programme is truly a game changer in the industry. Innovad services integrators, producers, nutritionists, veterinarians, feed companies with a focused range of on farm water soluble and in-feed solutions. www.innovad-global.com

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About Herbonis

Herbonis is a company specialising in plant-based bioactive molecules, the leader in the niche vita- min D3 market with its product Panbonis, which offers a powerful natural source of the metabolic active form of Vitamin D. With a focus on sustainability and natural ingredients, Herbonis is commit- ted to providing innovative solutions to the animal feed industry. www.herbonis.com

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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 €14 billion of capital and invested in over 170 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 www.ikpartners.com

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KKR Acquires Namsan Green Building

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KKR

SEOUL, South Korea–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the signing of definitive agreements under which funds managed by KKR will acquire Namsan Green Building, a quality office building in Seoul’s Central Business District (“CBD”) through collective investment vehicles established under the Financial Investment Services and Capital Markets Act of Korea.

Completed in 1994, Namsan Green Building is a 57,574-square-meter office building in Seoul that is centrally located near major transportation networks, including Seoul Station that connects to all the major cities in Korea, and the Seoul Station Bus Transit serving the Greater Seoul area. Today, the building operates as the headquarters of SK Broadband, a subsidiary of SK Telecom, Korea’s largest wireless carrier1 and the telecommunications arm of SK Group, one of the country’s largest conglomerates.

This acquisition takes place at a time when office market fundamentals are robust and demand for office space continues to rise strongly in the face of a resilient labor market and limited office space in Korea.

David Cheong, Managing Director, Real Estate at KKR, said, “Our investment in Namsan Green Building provides us with a unique opportunity to acquire a high-quality asset in a strategic location and add value by leveraging our real estate expertise to enhance its offerings for today’s modern office demands. We remain confident in the long-term prospects of Korea’s office real estate market, where future supply is extremely limited and demand for office space continues to be resilient, and look forward to helping the country meet its office space needs.”

KKR is making its investment primarily from Asia Real Estate Partners, KKR’s Asia-dedicated value-add and opportunistic real estate fund. Namsan Green Building is KKR’s latest real estate investment in South Korea, and adds to past office investments in the country and across Asia including Namsan Square, an office tower located in Seoul’s CBD, K Twin Towers, a premium commercial property in Seoul’s CBD, Centerfield, a prime office complex in Seoul’s Gangnam Business District, Twenty Anson, a prime-grade office building in Singapore’s CBD, and office assets across Japan. Globally, KKR’s real estate team manages approximately US$65 billion in assets as of December 31, 2022. The transaction is expected to be completed in May 2023.

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 Twitter @KKR_Co.

1 Statista (2022). Market share of mobile phone service providers based on user numbers in South Korea in 2022

Media
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

Source: KKR

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