Category Archives: News

Bencis announces closing of Bencis IV Continuation Fund

Bencis

Amsterdam, Brussels, Düsseldorf, 29 March 2023

Bencis Capital Partners B.V. (“Bencis”) is pleased to announce the closing of Bencis IV Continuation Fund (the “Continuation Fund”) at €123 million.

The Continuation Fund has been led by Committed Advisors SAS (“Committed Advisors”), who structured and priced the transfer of assets from Bencis’ existing funds. The Continuation Fund attracted strong support from existing investors alongside several new institutional investors, private investors, family offices, founders and managers of (former) portfolio companies, and the Bencis team.

Bencis identified the opportunity to continue to manage, invest in, and support its portfolio companies in Bencis Buyout Fund IV. The Continuation Fund will provide additional capital to support four portfolio companies from Bencis Fund IV: CurTec, The European Candy Group, Pressure Thermal Dynamics and Prinsen Berning in their further expansion and growth initiatives.

The Continuation Fund will be managed by the same team that has successfully managed Bencis’ other funds. The Bencis team will continue to work closely with the management teams of the portfolio companies to identify growth opportunities and provide them with the necessary capital and resources to achieve their goals.

“We recognized the opportunity to create a dedicated fund to help existing portfolio companies continue their growth trajectory beyond the typical holding period and at the same time provide liquidity for existing investors. Therefore, we are excited to announce the closing of the Continuation Fund, which represents a natural extension of our strategy,” said Robert Falk, Partner at Bencis.

Alexis Ruiz, Partner at Committed Advisors added: ”We are thrilled to partner with Bencis on this new chapter of value creation for these four companies, and to have contributed to providing a liquidity option to existing investors.”

Rede Partners served as the exclusive financial advisor for this transaction, from its newly opened Amsterdam office. Bencis was advised by Proskauer Rose LLP and Loyens & Loeff NV. Committed Advisors was advised by Hogan Lovells LLP.

Categories: News

pH7 Technologies closes successful series A financing round

Basf Ventures

Vancouver, BC – pH7 Technologies Inc, a pioneer in clean and sustainable critical metal extraction solutions, is pleased to announce the successful closing of its series A financing round.

The round was oversubscribed, raising $16 million USD from major investors such as TDK Ventures, Pangea Ventures, BASF venture Capital, FM Capital, Collaborative Fund, and Rhapsody ventures.

PH7 Technologies, a new Canadian sustainable startup, has developed a game changing metal extraction process that will reduce the environmental impact of the mining and convectional recycling process. The funding will be used to accelerate the development and commercialization of PH7’s innovative clean tech recycling solutions and scaling the company.

PH7’s proprietary closed-loop process provides near net-zero environmental impact in the extraction of key minerals and will serve as an enabler allowing metal supply to support the massive electrification movement.

“Our team is thrilled to have the support of our co-lead investors, TDK Ventures and Pangaea Ventures, as well as other new investors like Rhapsody Ventures, Collaborative Fund, FM Capital, and BASF Venture Capital, who will work with us to scale our sustainable metal-extraction process,” said Mohammad Doostmohammadi, CEO of pH7 Technologies.” We are committed to developing environmentally responsible solutions that address the challenges in the metal supply chain, and we believe that our technology can help accelerate the global transition to a more sustainable energy future.”

TDK Ventures, a subsidiary of TDK Corporation, is a leading corporate venture capital firm focused on investing in innovative technology startups. They co-lead the A series round with Pangea Ventures, a venture capital firm focused on investing in sustainability startups with a focus on materials and energy solutions.

“TDK Ventures will support pH7 Technologies in their mission to create a more sustainable and efficient metal-extraction process,” said Nicolas Sauvage, President of TDK Ventures.

“Environmentally-friendly metal extraction is a huge win for sustainability, as the process has demonstrated a net 95% reduction in CO2 emission, 95% increase in energy efficiency, absolutely no toxic emissions, and near-zero water consumption compared against current industry standards.”

“pH7 Technologies has created a path forward for key metals extraction and refining that will enable the transition to renewable energy in a much more clean and sustainable way,” said Sarah Applebaum, Partner with Pangaea Ventures. “We share pH7’s passion to create a more habitable and sustainable planet for future generations and are excited to be a part of this project.”

PH7 Technologies chemical process is gaining traction within industry OEMs, metal refiners, and suppliers due to its inherently scalable, high yield, and faster-than-acid-based solution. The new metal extraction process represents a practical solution to an industry pervasive problem while simultaneously creating a low-cost solution, with high environmental consideration, and a demonstrated technical maturity.

The successful closing of the A Series financing round is a significant milestone for pH7 Technologies, and the company is poised for growth and expansion in the coming years.

Categories: News

Tags:

Ratos Company HL Display to acquire Oechsle Display Systems and werba print & display

Ratos

HL Display has signed an agreement to acquire Oechsle Display Systems, a manufacturer of communication and shelf management solutions, and its sister company werba print & display, a provider of print and display solutions. The acquisitions are the sixth and seventh respectively since HL Display’s acquisition journey started in 2021, and they will create major industrial synergies.

The acquisition will expand HL Display’s footprint in Germany and further strengthen its position as the leading supplier for in-store merchandising and communication solutions to grocery retailers in Europe.

“HL Display’s growth journey is characterized by underlying good organic growth combined with a high acquisition rate of fine companies, precisely the type of deals that have great industrial synergies. Now HL Display is taking further big and important steps in Germany, and thereby strengthening its position as the leading European player. Furthermore, these ad-on acquisitions are numbers six and seven since HL’s acquisition journey started in 2021, it is impressive both in terms of quality and pace. We are very satisfied with the development so far and look forward to the next steps,” says Anders Slettengren, Chairman of the Board of HL Display and Executive Vice President, Ratos.

“I am glad to announce the acquisitions of Oechsle Display Systems and werba print & display. Both companies are a great addition to HL, given their impressive track record and strong footprint in Germany, a market where we are looking to expand our presence. As Oechsle’s product assortment is close to HL’s, the offering of both companies can be combined to provide a stronger proposition to our customers. werba on the other hand will enable us to provide printed and bespoke solutions to our customers in Central Europe, similar to our offer to customers in the UK today. I am confident this acquisition will set us up for a successful future together,” says Björn Borgman, CEO of HL Display.

Founded in 1956, Oechsle Display Systems is based in Leipheim, Germany and has 160 employees. The family-owned company has a track record of innovation, including the plastic poster frame introduced in the 1970ies. Today, Oechsle Display Systems has annual sales of €13M from a large assortment of solutions for shelf management, price labelling and sales promotion.

The Sister company werba print & display develops, designs and produces customised POS display solutions out of various materials but also offers high quality print products for grocery trade as well as non-food retailers such as drug stores and brand suppliers. Founded in 1975, the company has been owned by the Oechsle family since 2004 and generates an annual turnover of €13M. Its 140 employees are based in Buhl, Germany.

The acquisition is expected to be finalized by 3 April 2023.

About HL
HL is a global leader in in-store merchandising and communication solutions, helping customers to create a better shopping experience around the world. Founded in 1954, HL today is present in more than 70 countries and solutions can be found in 330,000 stores, supporting customers to grow sales, inspire shoppers, drive automation, and reduce waste. The three customer segments are retail food, branded good suppliers and non-food retail.

The HL Display Group has its headquarters in Stockholm, Sweden and sales offices in 23 countries covering 39 markets as well as distribution partners covering the remaining markets globally. The five production facilities are located in Sweden, Poland, the UK and China and handle a variety of industrial processes, including plastics and metal fabrication, printing and assembly.

The company has 1,100 employees and net sales of 1,900 MSEK.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21
Björn Borgman, CEO HL Display, +46 72 264 17 90

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 32 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

Categories: News

Tags:

EQT Growth to acquire GotPhoto, a leading vertical software platform helping photographers spend less time behind their desk and more time behind the lens

eqt
  • GotPhoto is dedicated to making photographers’ lives easier and more efficient. The Company provides an end-to-end workflow and e-commerce solution enabling its customers to digitalize key parts of their workflow, from photo management to payment and marketing automation, to order fulfilment, combining high functionality with a user-friendly platform
  • With over 4,000 customers in the US, UK and DACH, GotPhoto is already one of the largest players in the workflow and e-commerce solution market for volume photography, which is expected to grow 24% year-on-year through 2027
  • EQT Growth, in partnership with GotPhoto’s founders and management team, will support the Company’s continued organic and inorganic growth plans in its core markets and expansion into additional verticals and geographies, while further investing in the Company’s platform, product and commercial excellence

The EQT Growth fund (“EQT” or “EQT Growth”) has entered into an agreement to acquire a majority stake of GotPhoto Company (“GotPhoto” or “the Company”) from its founders, existing angel investors, and management team, who will remain minority owners. GotPhoto’s management team, including its CEO, Benedikt Greifenhofer, will continue to lead the Company, building on its strong track record of growth. As part of the transaction, EQT Growth will also invest additional primary capital into the business to further accelerate the company’s organic growth, including product & tech investments, as well as capitalize on attractive inorganic opportunities in the market.

Founded in 2012 and headquartered in Berlin, Germany, GotPhoto (and its German brand, fotograf.de) are dedicated to making the lives of photographers easier and more efficient, helping them spend less time behind their desk and more time behind the lens. By enabling photographers to digitalize key parts of their workflow, including photo management, photo editing, marketing automation, payment, and order fulfillment, GotPhoto effectively powers the daily operations of photographers, allowing them to save significant time and effort across photo shoots. The Company – which has over 4,000 customers, primarily SMBs and “solopreneur” photographers, across the US, UK and DACH – has managed to build a strong reputation as a leading vertical software solution within the people photography segment across its core markets, while being bootstrapped.

GotPhoto operates in a large but highly fragmented and antiquated market, in which digital services and products are not commonly used. As customers increasingly recognize the benefits of digital-native workflow management solutions like GotPhoto’s, it is expected that the underlying core market will grow 24% year-on-year through to 2027. Added to that, historically the volume photography market has proven to be more resilient than other parts of the wider photography market given people’s continued desire to purchase high quality photos as a way to “capture a moment” in time, like the first day of nursery or graduation day. GotPhoto is already well positioned in this market thanks to its seamless end-to-end functionality and user-friendly platform, which has allowed the Company to continue winning market share from legacy solutions, seeing consistent 50% year-over-year growth over the last five years.

EQT Growth will partner with GotPhoto’s founders and management team to further invest in the Company’s proprietary tech platform while it adds new product features. At the same time, as GotPhoto continues to build its commercial expertise it will benefit from access to EQT’s in-house digital team, EQT’s network of over 600 expert industrial advisors, and shared learnings across EQT’s global business, which is active in the Company’s core markets across in Europe and North America. With this support, GotPhoto plans to further expand its presence in areas such as sports and portrait photography as well as new attractive geographies, as it aims to strengthen its position as a leading global player in people photography. In addition to that, both EQT and GotPhoto believe there are a number of interesting M&A opportunities in the market, which should help complement the company’s organic strategy and accelerate the team’s ambitious growth plans.

Benedikt Greifenhofer, CEO of GotPhoto, remarked: “I’m very proud of everything that our team here at GotPhoto has achieved so far but, in many ways, this is just the beginning. Partnering with EQT Growth marks the beginning of an exciting new chapter for GotPhoto. It will enable us to accelerate our mission of driving the digitization of the people photography market and allowing photographers to do what they do best: taking photos. We look forward to leveraging EQT’s digital expertise and sector experience, combined with their local presence across Europe, the US, and Asia and their broad network of industrial advisors, to successfully take this next step on our journey.”

GotPhoto Co-Founder and former CEO Markus Posselt, who will transition to GotPhoto’s Advisory Board, commented: “I’m very happy that with EQT Growth we have found an ideal partner for GotPhoto’s next stage of growth. Not only was EQT our preferred partner of choice given their global scale, strong value-add capabilities, and sub-sector expertise across software and prosumer technology investments, but also given the great cultural fit with the EQT team and their alignment of vision and values with ours.”

Dominik Stein, Partner in the EQT Growth Investment Advisory Team who will also join GotPhoto’s Advisory Board, concluded: “GotPhoto is a prime example of a technology company supported by long-term macro trends and led by an excellent management team that is ready to embark on the next phase of its growth journey. Benedikt and the entire GotPhoto team have accomplished so much, having to-date been entirely bootstrapped, and we are delighted to partner with them as we continue to build on GotPhoto’s market-leading position in the US, UK, and DACH.”

The transaction is subject to customary conditions and approvals. It is expected to close in April 2023.

BCG, PwC, Willkie, Awelin, Netlight, and Aon served as advisors to EQT Growth.
Stout, KPMG, and Springer Kuss served as advisors to GotPhoto.

Contacts

Finn McLaughlan, +44 77 1534 1608, finn.mclaughlan@eqtpartners.com
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT Growth
EQT Growth supports leading growth-stage technology companies as they take the next step to scale. The strategy seeks to invest around EUR 50 million to EUR 200 million, backing strong management teams of companies supported by secular macro trends primarily within four tech sub-sectors: enterprise, con/prosumer, health, and climate. Based in five countries across Europe, the EQT Growth team has extensive investing and operating experience that allows it to support its portfolio companies however called upon.

EQT is a purpose-driven global investment organization with EUR 113 billion in assets under management 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, Twitter, YouTube and Instagram

About GotPhoto
For the past decade, GotPhoto has been the leader in supporting high-volume photographers with its easy-to-use, comprehensive workflow and sales software. With a mission to make school, sports, and dance photographers more successful, whether you photograph 100 students or 100,000, GotPhoto can help you save time and increase your sales.

More info: https://www.gotphoto.com

Categories: News

Tags:

Hazy raises $9m to power synthetic data usage in enterprises

AlbionVC

We are thrilled to share that Hazy, the leading synthetic data disruptor, announced today that it has raised $9 million in Series A funding round backed by UCL Technology Fund, including investors Conviction, M12 (Microsoft), Wells Fargo, Nationwide Building Society, ACT Venture Partners, Terra VC, Evenlode, Logo Ventures, Sarus Ventures and Neva SGR, the Intesa Sanpaolo bank venture capital company.

Originally a UCL AI spin out, London-based Hazy uses AI-generated smart synthetic data that preserves the statistical quality of the real data but contains no real information and therefore eliminates the privacy risk. Hazy’s synthetic data can be used as a drop-in replacement for real data with AI/ML development, software testing and data commercialisation use cases.

“The response from businesses to the capabilities of synthetic data has been huge. Enabling our customers to access and actually use their data unlocks real commercial value… we’re very excited to be right at the forefront of the synthetic data revolution.”

HARRY KEEN, CO-FOUNDER & CEO, HAZY

Hazy’s meteoric rise began with winning the $1 million Microsoft Innovate AI prize for the best AI startup in Europe, and has gone from strength to strength since. Customers include Nationwide Building Society, Vodafone Group and Wells Fargo. This raise will enable Hazy to continue to grow within the banking and telecom sectors in the UK, Europe and the US.

Having worked with Harry for many years now, David Grimm, Investment Director, UCL Technology Fund said:

“Generative AI has only recently exploded onto everyone’s radar, but Hazy has been pioneering the use of this type of AI to keep personal data safe for some time now.”

DAVID GRIMM, INVESTMENT DIRECTOR, UCL TECHNOLOGY FUND

More on UKTN here.

More from Hazy’s CEO, Harry Keen here.

Categories: News

Tags:

Vyaire Medical to Sell Consumables Business to SunMed

Apax

Vyaire Medical today announced an agreement for the sale of the Vyaire consumables business to SunMed, a leading North American manufacturer and distributor of consumable medical devices for anesthesia and respiratory care. The Vyaire consumables portfolio encompasses leading airway management and operative care technology, including well-known brands such as AirLife™ oxygen therapy, Vital Signs™ anesthesia circuits and SuperNO2VA™ nasal PAP ventilation. These established products offer a differentiated portfolio of products for patients.

0094 Vyaire Medical

“This divestiture allows Vyaire to focus on its industry-leading respiratory diagnostics and ventilation businesses and accelerate our strategic growth plans,” said Gaurav Agarwal, chief executive officer, Vyaire. “Uniting the industry-leading Vyaire consumables portfolio with SunMed’s compatible suite of products is a win-win for both companies, as well as customers and patients, and will enhance the potential for long-term growth of the combined consumables portfolio.”
“We are extremely pleased with this transaction, which will empower Vyaire to focus squarely on its specialty in respiratory diagnostics and ventilation moving forward, cementing its position as a market leader in this space,” said Steven Dyson, Partner at Apax. “We look forward to working with the Vyaire team on this exciting new chapter for the business.”

Upon completion of the transaction, the combined businesses will create a premier dedicated manufacturer of respiratory and anesthesia consumables. Together, these complementary product lines will enhance the overall product offering for SunMed’s customers and patients globally.

Terms of the agreement were not disclosed. Vyaire will continue to fully manage its consumables business and products until the transaction is finalized, with full support to customers, and will work to ensure continuity for partners and suppliers. The agreement is subject to antitrust regulatory clearance in the US. Pending such regulatory clearance and fulfillment of other conditions, Vyaire currently anticipates closing the transaction in the coming months.

Vyaire remains committed to its mission to empower the global respiratory community to enrich patients’ quality of breathing throughout their lives.

Categories: News

Tags:

AnaCap and Founders sell minority stake in MRH Trowe to TA Associates at 4.3x money multiple

Anacap
  • Annual growth of >50% since initial investment in 2020 through a combination of 21 bolt-on acquisitions and strong organic performance
  • New partnership with TA Associates will see the acceleration of MRHT’s impressive growth story, further establishing its position as one of the leading commercial lines insurance broker in the DACH region
  • Sale of stake comes 2.5 years after initial investment at a 4.3x money multiple

AnaCap Financial Partners (“AnaCap”), a market-leading partner for founders and entrepreneurial management teams, across software, technology and services companies operating within the European financial ecosystem, today announces the sale of a minority stake in portfolio company MRH Trowe (“MRHT” or “the Group”), one of the largest owner-managed commercial lines insurance brokers in Germany.

AnaCap and MRHT’s founding managers have signed an agreement to sell a minority stake in the Group to TA Associates. The founding managers will remain the largest shareholder group post transaction and will be backed by both AnaCap and TA Associates moving forward. Closing of the transaction is subject to EU antitrust approval.

This transaction, which marks the fourth exit from AnaCap’s third fund, generates a 4.3x money multiple and follows shortly after the 4x exit of Oona Health to Topdanmark earlier this month.

MRHT is one of the ten largest German industrial insurance brokers, with more than 1,100 employees and €650 million of premium volume, offering comprehensive expertise in practically all insurance lines for industrial and commercial clients, financial institutions as well as high-net-worth individuals. The owner-managed company has a holistic advisory offering, specialised teams of experts and a high degree of digitalisation at the interfaces of clients, brokers and insurers.

The sale comes 2.5 years after AnaCap’s initial investment, during which time MRHT have completed 21 bolt-on acquisitions, complementing existing product propositions, client coverage and geographical footprint. During this time, MRHT has also demonstrated a strong double-digit organic growth rate.

The new growth partnership with TA Associates will further accelerate MRHT’s growth trajectory and cement its position as a leading insurance broker in the DACH region. The Group is now on track to deliver more than €150 million of revenue in 2023.

 

This transaction follows the recent completion of a debt refinancing for MRHT, led by Macquarie Capital Private Credit and existing lending partner Bain Capital Credit. This extended partnership will further optimise MRHT’s capital structure and provide the funding necessary to deliver on the next chapter of the company’s growth.

Ralph Rockel, Co-Founder and Chief Executive Officer at MRH Trowe, commented:

“Our partnership with AnaCap has already been one of significant support in the development of our business and brand. With the additional expertise of our new growth partner TA Associates and improved capital structure, we will be able to reach a new level of potential, both across DACH and internationally. This is an exciting time for both MRHT customers and employees.”

Tassilo Arnhold, Co-Managing Partner at AnaCap, added:

“To date, it has been an absolute privilege to work in partnership with the founders of MRHT and we are thrilled to continue this exciting journey together going forward. The investment in MRH Trowe is one of our most successful investments and we are now delighted to welcome an experienced investor like TA Associates to this successful partnership. Our core focus remains to back strong entrepreneurs in the financial services sector and the MRH Trowe founder management team with its vision to pursue an integrated buy-and-build model, holistic client servicing approach and strong value-based leadership culture continues to excite us tremendously.”

Arnhold continued:

“This transaction not only gives AnaCap and its investor base a very impressive return of a 4.3x money multiple but it also allows for significant further growth of the business. We see the DACH brokerage landscape continuing to undergo rapid consolidation and look forward to supporting MRHT together with TA Associates in the next phase of growth for the business.”

Chris Parkin, Managing Director and Co-Head of Financial Services at TA Associates, concluded:

“We believe MRH Trowe is uniquely positioned to consolidate its large and highly fragmented market. We have followed the company for many years and are truly impressed by the work that the Founders and broader team have accomplished. The combination of its holistic client approach, organic growth and best-in-class integration enables MRH Trowe to deliver superior client service while also enjoying sustained growth. We are excited to join AnaCap on this journey in support of the management team.”

Categories: News

Tags:

Alantra reorganizes its Investment Banking division to accelerate global growth ambitions

Alantra
  • The Firm announces the appointment of Miguel Hernandez as CEO of Investment Banking, based in London, and of Andy Currie and Franck Portais as Co-Chairmen
  • In Germany, Jan Caspar Hoffmann has joined the Firm as CEO and Managing Partner of Alantra Germany to develop Alantra’s Frankfurt office into one of the Firm’s key international hubs, next to London, Paris, and Madrid
  • The Firm has also promoted Philipp Krohn to CEO of Alantra in the US, based in New York and Boston, and Javier García-Palencia to CEO of Alantra Investment Banking in Spain
  • These appointments are part of a series of organizational changes aimed at fostering stronger integration and offering further value-accretive specialized services within Alantra’s Investment Banking division

London – Alantra, the independent global mid-market financial services firm, is pleased to announce the appointment of Miguel Hernandez as CEO and Andy Currie and Franck Portais as Co-Chairmen of the investment banking division, among other leadership appointments across the business. These changes aim to foster stronger collaboration and offer additional and value-accretive specialized services globally with cross-functional teams, focused, among others, on Advanced Analytics & AI and the Energy Transition. This is a natural extension of Alantra’s traditional offering and symbolic of the next phase of the Firm’s evolution.

Miguel Hernández, who has been with Alantra for over 20 years, has been appointed CEO of the Firm’s Investment Banking business and will be based in London. He has an extensive track record in cross-border and Spanish M&A deals, both on the sell- and buy-side, especially in real estate, and also in the industrial and consumer sectors. In addition to his managerial responsibilities, Miguel will coordinate the coverage of large multifunds and support business generation in Spain during a transition period.

Andy Currie and Franck Portais have been appointed Co-Chairmen based in London and Paris, respectively. They have led the development of Alantra’s London and Paris offices into two of Alantra’s principal hubs. Andy led the integration of Catalyst Corporate Finance with Alantra in 2017 and focuses on the professional services and industrials sectors, as well as advising private equity, bank consortia, and other complex shareholder structures. Franck leads the Paris office and has over 20 years of experience in corporate finance, having advised entrepreneurs, families, corporate and private equity funds in France and Europe.

In Germany, Jan Caspar Hoffmann has joined Alantra as the new CEO and Managing Partner of Alantra Germany. He has 25 years of investment banking experience, having worked in leading positions across bulge bracket banks and global independent firms in Frankfurt and London (Merrill Lynch, Société Générale, Moelis & Company). Jan Caspar has also been active as an investor and advisor to predominantly technology firms regarding disposal processes and strategic partnerships.

Philipp Krohn has been promoted to CEO of Alantra USA, having been with the Firm since 2010. His last role was Partner and Head of Corporate Development. Philipp will be based in Boston and New York and lead the expansion of Alantra’s US operations from there. Javier García-Palencia has been promoted to CEO of Alantra Investment Banking Spain. He has been with Alantra since 2015 and used to be Head of Debt. Javier has over 18 years of Corporate & Investment Banking experience in New York, London, Lisbon, and Madrid. Miguel Hernández, Andy Currie, and Franck Portais said: “With the series of appointments, we have laid the ground for a new chapter of growth focused on meeting the demands of sector specialization, the digital age, and the energy transition. In the coming weeks, we will be announcing the addition of further highly reputable professionals who will bring expertise in key sectors to our Firm. We want to grow across sectors and products and continue to position ourselves in transversal themes affecting mid-sized businesses across industries. We now have a strong team across our key international hubs to deliver on these growth opportunities.”

Categories: News People

Tags:

KKR and Gaw Capital Acquire Hyatt Regency Tokyo

KKR

Press Release

<< Back to Press Releases
Download PDF  

KKR and Gaw Capital Acquire Hyatt Regency Tokyo

March 27, 2023

Transaction marks KKR’s first hotel investment in Japan

Builds on KKR’s strong momentum in Japan’s real estate sector

TOKYO–(BUSINESS WIRE)– KKR, a leading global investment firm, and Gaw Capital Partners (“Gaw Capital”), a leading real estate private equity firm, today announced the signing of definitive agreements under which funds managed by KKR and Gaw Capital will acquire Hyatt Regency Tokyo (or “the Hotel”), an iconic luxury hotel located at the heart of Tokyo, from Odakyu Electric Railway Company.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230323005830/en/

Built in 1980, the Hyatt Regency Tokyo is a 746-room luxury hotel located in Shinjuku, one of Tokyo’s busiest business and retail districts, and adjacent to the Tokyo Metropolitan Government headquarters. The hotel sits in a prime location, among large-scale Class A office buildings and in close proximity to public transportation networks including Tochōmae and Shinjuku Stations.

Kensuke Kudo, Director, Real Estate, at KKR, said, “This investment is a rare opportunity to acquire an iconic hotel in one of the most energetic districts in the world. As Japan emerges strongly from the pandemic as a leading travel destination, and domestic and international business travel bounce back, we see great potential to refurbish and to enhance the Hotel’s offerings to both corporate and leisure guests while retaining its unique heritage. We are pleased to welcome Gaw Capital, with their hospitality expertise, as strategic partners here, which will enable us to tap into our collective strengths for the Hotel’s transformation.”

Isabella Lo, Managing Director, Principal – Investments and Head of Japan at Gaw Capital Partners, added, “We are delighted to collaborate with KKR in a rare opportunity to acquire the iconic full-service Hyatt Regency Tokyo in prime Shinjuku. With a full renovation of the hotel rooms and the public areas, the Hotel will enjoy the upside from the jump in the number of inbound travelers from overseas and its advantageous location in a global commercial hub.”

KKR is making its investment from Asia Real Estate Partners. This transaction marks KKR’s latest investment in Japan and the real estate sector in Asia Pacific. This builds on KKR’s continued activity and momentum in Japan’s real estate sector across different real estate investment strategies, including KJR Management (formerly Mitsubishi Corp.-UBS Realty Inc.), a leading Japanese real estate manager that oversees two Japanese REITS, a portfolio of multifamily properties in Tokyo, and office assets across Japan. Globally, KKR’s real estate team manages approximately US$65 billion in assets as of December 31, 2022.

Gaw Capital Partners entered the Japan market in 2014 through its first investment in Hyatt Regency Osaka and successfully exited as the second largest hotel deal in Osaka in 2016. Gaw Capital is currently managing properties of various asset class in Japan, including a logistics portfolio with seven fully-let assets across Greater Tokyo, Japan, a portfolio of multi-family residential assets in city center locations primarily in Tokyo and other major cities in Japan, a property in Fuchu Intelligent Park for redevelopment into a Tier III Data Center. In early 2022, Gaw Capital has also completed the US$3 billion privatization of Office J-REIT. As of Q3 2022, Gaw Capital commanded assets of US$33.6 billion under management globally.

The transaction is expected to be completed by Q2 2023, subject to regulatory approvals and closing conditions. Further details of the investment have not been disclosed.

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.

About Gaw Capital Partners

Gaw Capital Partners is a uniquely positioned private equity fund management company focusing on real estate markets in Asia Pacific and other high barrier-to-entry markets globally. Specializing in adding strategic value to under-utilized real estate through redesign and repositioning, Gaw Capital runs an integrated business model with its own in-house asset management operating platforms in commercial, hospitality, property development, logistics, IDC and education. The firm’s investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, serviced apartments, hotels, logistics warehouses and IDC projects.

Gaw Capital has raised seven commingled funds targeting the Greater China and APAC regions since 2005. The firm also manages value-add/opportunistic funds in the US, a Pan-Asia Hospitality Fund, a European Hospitality Fund and a Growth Equity Fund, and it also provides services for credit investments and separate account direct investments globally. Since 2005, Gaw Capital has commanded assets of US$33.6 billion under management as of Q3 2022.

Media

For KKR:
KKR Asia Pacific
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

FGS Global (for KKR Japan)
Samuel Brustad
+81 70 3853 3284
Samuel.Brustad@fgsglobal.com

For Gaw Capital:
Gaw Capital
Camille Lam
+852 2583 7717/ +852 9884 9198
camillelam@gawcapital.com

Citigate Dewe Rogerson (for Gaw Capital Japan)
Yas Fukuda
+81(0)3 4360 9241
gawcapital_japanpr@citigatedewerogerson.com

Source: KKR

Categories: News

Tags:

EQT Growth invests EUR 100 million in IntegrityNext, a sustainability software platform dedicated to making supply chains more transparent and compliant

eqt
  • Munich-based IntegrityNext empowers businesses to meet regulatory ESG requirements, manage ESG risks and improve supply chain sustainability.
  • The Company operates in a rapidly growing market that will likely benefit from the introduction of several major regulatory frameworks around climate protection and human rights, as ESG compliance and risk assessment becomes a “license to operate” issue
  • Its cloud-based software platform is used by more than 200 customers, including Siemens Gamesa, Infineon, SwissRe, Kion and Hilti. To date, the company monitors almost 1 million suppliers in more than 190 countries
  • EQT Growth will support the Company as its first institutional investor, leveraging its experience of investing throughout the tech value-chain, global network of sustainability and technology advisors, and in-house teams of digitization and sustainability experts

The EQT Growth fund (“EQT Growth”) has today announced a EUR 100 million investment in IntegrityNext (“the Company”), a sustainability software platform dedicated to enabling supply chain transparency and regulatory compliance. Co-founders Martin Berr-Sorokin (CEO), Simon Jaehnig (CRO) and Nick Heine (COO), who have grown the business whilst bootstrapped to date, will continue to lead the Company.

Founded in 2016 and headquartered in Munich, Germany, IntegrityNext has grown to serve more than 200 customers and monitoring almost one million suppliers, making it one of the leading environmental, social and governance (“ESG”) Certification software solutions in Europe. Its cloud-based platform enables enterprises – such as Siemens Gamesa, Infineon, SwissRe, Kion and Hilti – to assess risk and monitor a large portion of their supply chain for ESG metrics and compliance, allowing them to meet stakeholder demands and regulatory requirements. IntegrityNext has also partnered and integrated with leading enterprise software tools, including Celonis, Coupa and SAP, allowing it to offer supply chain assessments across numerous major industries.

The penetrated market in Europe for sustainability supply chain software solutions is expected to see strong growth over the next years. According to market estimates, the penetrated market is growing by more than 50 percent annually1 with an expected market volume of around EUR two billion in the medium term1,2. This development is driven by the introduction of several major regulatory frameworks across Europe. Most notably, these include the German Supply Chain Due Diligence Act (“LkSG”), the EU’s Green Deal and Corporate Sustainability Reporting Directive (“CSRD”). At the same, increasing stakeholder pressure is also expected to drive market expansion, as ESG compliance and risk assessment becomes a “license to operate” issue for companies worldwide.

EQT Growth will partner with IntegrityNext on the next phase of its growth journey as it looks to further cement its leading position within Germany, while expanding its core product to serve upcoming European regulations. EQT Growth will bring its experience of investing throughout the tech value-chain, supported by EQT’s dedicated in-house teams of digital and sustainability experts and network of 600 advisors. Together, EQT Growth and IntegrityNext will further invest in the tech platform to support the acceleration of the product offering, and position it for long-term success.

Martin Berr-Sorokin, CEO and co-founder of IntegrityNext, said: “The critical importance of ESG is not a new concept to modern businesses. However, as a raft of regulatory frameworks – like Germany’s LkSG or the EU’s CSRD – begin to take effect, supply chain transparency and sustainability is evolving from a nice-to-have to a must-have. As more clients entrust us and we embark on our next stage of growth, we’re excited to be partnering with an experienced and hands-on investor with European roots and global scale like EQT Growth.”

Dominik Stein, Partner in the EQT Growth Investment advisory team who will join IntegrityNext’s Advisory Board, said: “IntegrityNext’s technology provides a streamlined and automated way for customers to easily monitor and certify their supply chain for ESG risks. Their cutting-edge product and large footprint in their home market of Germany positions them well to expand across Europe, as they have already built a significant proprietary supplier database. We look forward to working with Martin and the entire IntegrityNext team as they accelerate on their journey to making supply chains more transparent.”

 

Notes to Editors
1Source: EQT Growth, Internal Market Sizing
2Source: PWC Market-Report

Contact
Finn McLaughlan, +44 77 1534 1608, finn.mclaughlan@eqtpartners.com
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
About EQT Growth

EQT Growth supports leading growth-stage technology companies as they take the next step to scale. The strategy seeks to invest around EUR 50 million to EUR 200 million, backing strong management teams of companies supported by secular macro trends primarily within four tech sub-sectors: enterprise, con/prosumer, health, and climate. Based in five countries across Europe, the EQT Growth team has extensive investing and operating experience that allows it to support its portfolio companies however called upon.

EQT Growth is an investment strategy of EQT, a purpose-driven global investment organization with EUR 113 billion in assets under management 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, Twitter, YouTube and Instagram

 

About IntegrityNext – Boost Supply Chain Sustainability

IntegrityNext is a leading solution for supply chain sustainability management that empowers companies to improve supply chain sustainability and meet regulatory ESG requirements. The cloud-based platform enables companies to quickly and cost-effectively check their supplier base against sustainability-related regulations (e.g. the German Supply Chain Act), standards (e.g. international human and labour rights), and voluntary commitments (e.g. supply chain decarbonization/Net Zero). IntegrityNext helps its clients identify and manage ESG risks along the value chain, reducing reputational and financial risks and improving sustainability performance.

More info: www.integritynext.com

Categories: News

Tags: