Category Archives: News

£3.1mn investment in leading digital health platform Mable Therapy

Gresham House

We are pleased to announce a £3.1 million investment into Mable Therapy, the UK’s leading digital health platform for children’s speech and language therapy and counselling services.

The business addresses a significant and growing area of need – 1.4mn children in the UK have long-term speech, language or communication needs and one in five children aged 5-16 have a diagnosed mental health problem.

Founded by Martha Currie and Elliot Agró in 2015, Mable provides easy access to a nationwide network of therapists who deliver live, 1-2-1 sessions through a bespoke online platform that facilitates improved therapeutic outcomes in a child-friendly environment.

Mable offers an affordable direct-to-consumer service, as well as solutions for the education and healthcare sectors, where technology adoption is now seen as vital to address the growing unmet demand.

In the last year alone, Mable has delivered over 22,000 hours of therapy to over 3,000 children.

As part of the investment, Gresham House Ventures has supported the appointment of Oli White as Mable’s CEO, bringing significant commercial expertise in the health and education technology sectors, most recently as Chief Commercial Officer at Doc Abode. Education business leader, Andrea Carr, will also join Mable as independent Chair.

The investment, led by Benjamin Faulkner and Tom Makey, follows several recent investments in the healthcare and education sectors.

In April 2023, Gresham House Ventures invested £4.0mn into neuro-inclusion solutions provider Cognassist, whose software platform supports individuals with hidden learning needs across education and the workplace. This followed a £4.5mn investment in September 2022 in Orri, a specialist clinic for the treatment of eating disorders. The investment in Mable represents the fourth new investment by Gresham House Ventures in 2023.

Mable Therapy was advised on the transaction by Zuleika Salter and James Balicki at finnCap Group.

Benjamin Faulkner, Associate Director at Gresham House Ventures said:

“Mable’s technology transforms the lives of children in their crucial early stages of development. There is significant growth potential for Mable within the wider education and health sectors where its technology offering can drive meaningful efficiencies for public service providers. Martha and Elliot have built an excellent business that is backed by a wealth of clinical and technological expertise, and we are confident that Mable can continue to revolutionise the provision of this vital support across the UK.”

Co-founders, Martha Currie and Elliot Agró said:

“Mable’s mission has always been to design therapy that puts children at its core, giving them the best chance to reach their full potential. Our pioneering technology has already helped thousands of families across the UK, and with this investment by Gresham House Ventures we can take this support even further. The investment will facilitate the development of an intra-therapy app designed to engage and empower children beyond session hours, and school screening tools to help educators in assessing students’ mental health and speech and language needs. We also look forward to welcoming to the team Oli and Andrea, whose expertise will be instrumental as we continue to enhance and expand our service beyond the UK.”

Oli White, Chief Executive said:

“This investment will enable us to extend our reach in the sectors where our technology is already helping schools and other care providers to support children facing complex challenges. With Gresham House Ventures’ outstanding track record of working with businesses in this sector, Mable is well-positioned to accelerate its growth trajectory in the coming years.”

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RFA secures €30m investment from KKR

KKR

KKR will become a leading investor in RFA alongside the existing strategic investor OHB

ž  New convertible debt investment comes after RFA’s successful completion of its upper stage hot fire test in May 2023, which was the first of its kind in Europe

ž  With the capital from KKR, RFA will bring its RFA ONE micro launcher to the launchpad at SaxaVord Spaceport in Scotland

ž  RFA offers cost-effective and flexible launch services to space as global demand for access to space rises

 

 

Augsburg, Germany –  August 7th 2023. Launch service provider Rocket Factory Augsburg AG (RFA) today announced that it has raised a €30 million investment from KKR, a leading global investment firm. The fresh funding is a vote of confidence for RFA as global demand for access to space continues to grow. The investment will facilitate RFA’s upcoming integrated first stage test and complete the company’s launch pad at SaxaVord Spaceport in Scotland, to eventually bring the RFA ONE microlauncher to the launchpad. The first flight is scheduled for Q2 2024. With its €30 million convertible bond investment, KKR will become a leading investor in RFA alongside the existing strategic investor OHB.

 

Stefan Tweraser, CEO at RFA: “We aim to provide cost-effective access to space and data-generating business models in space for monitoring, connecting, and protecting our planet. This new financing reflects confidence in RFA and validates our cost-efficient approach and technical achievements. Partnering with KKR as a long-term investor makes us proud – their financial resources, global network and industrial expertise will accelerate our mission, and support RFA towards our first launch next year and beyond.”

 

As global demand for cost-effective and flexible launch services to access space rises, RFA’s launch service offering is ideally positioned to benefit from this market opportunity. KKR’s investment follows the company’s successful completion of its upper stage hot fire test in May 2023, the first of its kind in Europe. This underlines investors’ trust in the business model of RFA, which prioritizes speedy and sustainable growth and maintains strong investment value for existing and new investors, and extends RFA’s technology and cost leadership.

 

Christian Ollig, Partner and Head of the DACH region at KKR: “KKR is excited to support RFA in its efforts to revolutionize access to space, which is crucial for emerging technologies that will shape our future. The team’s exceptional track record of achieving technical milestones and their unwavering focus on cost leadership are precisely the right strategy for future success in the global marketplace. We look forward to supporting RFA on its growth path.”

 

KKR’s investment comes from a holding company owned by its newest European private equity fund, KKR European Fund VI.

 

–ENDS–

 

About Rocket Factory

Rocket Factory Augsburg was founded in 2018 with the vision to enable data generating business models in space to better monitor, protect and connect our planet Earth. The company’s goal is to offer launch services of up to 1.300kg into low Earth orbits and beyond on a weekly basis at highly competitive prices. RFA wants to democratize access to space and reduce the launch costs in the space industry. The RFA ONE launch service combines three key competitive advantages: A customer-focused service with precise in-orbit delivery and a high degree of mission flexibility through its Redshift OTV; at a highly competitive price; made possible by superior staged combustion technology, low-cost stainless-steel structures and usage of industrial components. In June 2023, RFA became the first company in Europe to hot fire a complete staged combustion engine upper stage over its entire flight duration. Including this milestone, RFA has invested a total of less than €50m.

For more information, please visit: www.rfa.space

 

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.

 

+++

Media Contact:

Jonas Kellner                                                                         

Phone: +49 821 999576-21                                               

Email: jonas.kellner@rfa.space                                       

 

Rocket Factory Augsburg AG

Berliner Allee 65

86153 Augsburg

Germany

 

Chairman of the Supervisory Board: Jean-Jacques Dordain

Board of Directors: Stefan Tweraser, Stefan Brieschenk, Jörn Spurmann

Seat of the company: Augsburg

Registry Court: AG Augsburg, HRB 34251

USt-ID/Tax-ID: DE319402838

 

Media Relations KKR:

 

Thea Bichmann

Tel.: + 49 (0)172 13 99 761

E-Mail: kkr@fgsglobal.com

 

Emily Lagemann

Tel.: + 49 (0)160 992 713 35

E-Mail: kkr@fgsglobal.com

 

 

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Cegeka to Acquire CTG for $10.50 Per Share, Enhancing Value to Customers Across North America and Europe

GIMV

09/08/2023 – 14:08 | Portfolio

Cegeka finds in CTG a partner that complements its customer and service portfolio and strengthens Cegeka’s capabilities and knowledge. Cegeka and CTG together can deliver enhanced value to customers across North America and Europe. Cegeka will acquire CTG for $10.50 per share in cash in a transaction valued at approximately $170 million. The acquisition is expected to bring Cegeka to an annual turnover in 2024 of €1.4 billion, employing over 9,000 people in 18 countries. 

HASSELT, BELGIUM/LIMBURG and BUFFALO, N.Y.—August 9, 2023: Cegeka Groep nv (“Cegeka”), a leading European IT solutions company, and Computer Task Group, Incorporated (Nasdaq: CTG) (“CTG”), a leader in North America and Western Europe helping companies employ digital IT solutions and services to drive their productivity and profitability, today announced that they have entered into a definitive agreement under which Cegeka agreed to acquire CTG for $10.50 per share of common stock in an all-cash transaction, representing an implied equity value of approximately $170 million.

CTG is a leading provider of digital transformation solutions with a strong client base across high-growth vertical markets, focused primarily on healthcare, finance, energy, manufacturing, and government. The Company had $325 million in 2022 revenue and $306 million in trailing 12-month revenue as of June 30, 2023. CTG operates in three segments: North America IT Solutions and Services, Europe IT Solutions and Services, and Non-Strategic Technology Services. Since 2018, CTG has transformed into a provider of recurring and higher-margin Solutions work, which has significantly expanded its gross margin from 19.1% in 2018 to 28.1% as of June 30, 2023.

This transaction aligns with Cegeka’s long-term strategic vision for growth and ambition. “This merger is a logical next step in the continuous growth journey of Cegeka. In CTG, we find a partner that complements our customer and service portfolio and strengthens our capabilities and knowledge,” said Stijn Bijnens, CEO of Cegeka.

“Together, we can deliver enhanced value to customers across North America and Europe. As we proceed with the acquisition process, we look forward to welcoming the employees of CTG across India, Colombia, Europe, and North America,” said André Knaepen, Chairman of the Board of Directors of Cegeka.

“We are excited to enter into this transaction with Cegeka, which is a testament to the significant efforts we have undertaken to drive our transformation strategy to make CTG a pure-play digital IT solutions provider,” said Filip Gydé, CTG President and CEO. “At CTG, our mission is to drive better, faster results for our customers with high-value digital transformation solutions. In Cegeka, we are pleased to have found a partner that will enable us to accelerate this important work. We are confident that joining with Cegeka is in the best interest of our employees, will continue to drive the high-value services and solutions our customers have come to expect, and will deliver immediate value to our shareholders.”

You can find the full press on the website of Cegeka

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GP Bullhound and North Ridge Partners announce exclusive collaboration

Gp Bullhound

London, August 9 2023 – GP Bullhound and North Ridge Partners (NRP) have today announced an exclusive collaboration which will see NRP support GP Bullhound’s clients across APAC and GP Bullhound support NRP’s clients across Europe, the UK, and North America.

The partnership represents a formalisation of the firms’ multi-year relationship, adding to their mutual strength and depth in global coverage of Technology investors and strategic consolidators. This will help unlock growth in key geographies, supporting founders and investors to access a thriving interconnected technology ecosystem.

Together, GP Bullhound and NRP have completed over 700 transactions serving both private and public tech companies in geographic destinations as diverse as Indonesia, Vietnam, Thailand, Singapore, Australia, China and New Zealand, with cross border transactions involving European, UK, APAC, and American acquirers and investors.

Hugh Campbell, Co-founder and Managing Partner at GP Bullhound, said: “Technology has always been global, and so are we. Our partnership with NRP represents a milestone in our mission to support exceptional technology companies as they scale worldwide. We’re excited to collaborate with a like-minded and highly successful partner to accelerate our strong track records in these regions and provide the highest quality investment and advisory services to tech companies.”

Roger Sharp, Co-founder and Chair of North Ridge Partners, said: “We’re delighted to formalize our relationship with GP Bullhound. Their focus, tenacity, and track record have impressed us over the years. In today’s global tech sector, regional financing and M&A solutions no longer suffice. Clients seek specialized global funding and exit opportunities. With our longstanding collaboration with GP Bullhound, we’re excited about the cultural alignment and special relationship we’re developing. Together, we offer an extensive network in Southeast Asia, Australia, and New Zealand, providing a comprehensive global toolkit for investors, founders, and tech company boards.”.

About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders.  Founded in 1999, with a global team of 180+ employees, the firm now has 14 offices across key hubs such as London, San Francisco, New York, and Paris. For more information, please visit www.gpbullhound.com.

About North Ridge Partners
North Ridge Partners (NRP) is a Singapore-based regional technology investment bank. Formed in 2003, NRP is a partnership between its executives and Singapore-based PrimePartners with offices in Singapore, Australia and New Zealand. For more information, please visit www.northridgepartners.com and www.primepartners.com.sg.

Categories: News

MW Investment B.V. completes take-private acquisition of Meltwater

SAN FRANCISCO, August [9], 2023 —Meltwater, a global leader in media, social and consumer intelligence, today announces that is has completed the acquisition by MW Investment B.V, an entity jointly controlled by Marlin Equity Partners (“Marlin”) and Altor. The offer and subsequent post-closing restructuring were originally announced on January 18,2023 and completed on August 9, 2023. Meltwater shareholders were entitled to receive NOK 18.00 settled in cash, shares in the Offeror, or a combination thereof. As a result of the transaction, Meltwater has been delisted from trading on the Oslo Stock Exchange.

“We look forward to partnering with Marlin and Altor to execute on our vision and mission to be the global leader in digital and social media monitoring and intelligence, to help customers monitor, understand, and influence the world around them based on data insights from the outside. I am proud of our proven track record of profitable growth, underpinned by product leadership and a committed customer base. We believe this transaction will bring new opportunities to Meltwater and we look forward to working with new ownership to drive our continued success,” said John Box, CEO of Meltwater.

“We believe Meltwater represents a unique opportunity to invest in an industry leader in the media intelligence software space with proven strategic product capabilities. Meltwater’s solutions have a significant market opportunity and are critical to strategic brand decisions across enterprises globally. We are eager to work together in partnership with Altor and management to fuel the strong growth trajectory of the company,” said Nathan Pingelton, a managing director at Marlin.

“Meltwater has a history of industry disruption and is now strategically poised to further capture a significant market opportunity. We are committed to supporting Meltwater with the strategic and financial resources that will accelerate overall growth, technological innovation and the delivery of a top-of-the-line product offering to its customers,” added Natasha Mann, a principal at Marlin.

“Altor and Marlin are aligned with Meltwater’s strategy and taking Meltwater private will enable a greater ability to execute on this strategy by investing in product, sales, and strategic M&A, as Meltwater has successfully pursued historically. Our longstanding investment in Meltwater is based on our confidence in its leadership position, strong culture, and team, and we remain very confident in the company’s future potential. We are also happy to see the support from the current shareholders and many of them believing in Meltwater’s strategy and therefore continuing as shareholders of the company.” said Mattias Holmström, Partner at Altor.

J.P. Morgan Securities plc and DNB Markets, a part of DNB Bank ASA, served as financial advisors to Meltwater. Schjødt, Houthoff and DLA Piper acted as legal advisors to Meltwater.

Carnegie AS acted as financial advisor in connection with the Offer. Advokatfirmaet Thommessen AS, Freshfields Bruckhaus Deringer LLP, Advokatfirmaet Wiersholm AS, Goodwin Procter LLP and AKD N.V. acted as legal advisors to the buyer.

About Altor

Since inception, the family of Altor funds has raised more than EUR 10 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are H2 Green Steel, Silo AI, ARC, Rillion and QNTM. For more information visit www.altor.com.

About Meltwater

Meltwater provides social and media intelligence. By analyzing approximately one billion online documents daily, Meltwater enables PR, Communications and Marketing professionals to make informed strategic decisions and influence the world around them. The company was founded in Oslo, Norway in 2001 and now has 50 offices across six continents. Meltwater has 2,300 employees and 27,000 corporate customers, including industry leaders in several sectors. For more information, please visit www.meltwater.com.

About Marlin Equity Partners

Marlin Equity Partners is a global investment firm with over $8.9 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 200 acquisitions. The firm is headquartered in Los Angeles, California, with an additional office in London. For more information, please visit www.marlinequity.com.

Press contact

Tor Krusell

Head of Communications

tor.krusell@altor.com

+46 705 43 87 47

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Artificial intelligence and robotics in the textile industry: Bayern Kapital to participate in Series A funding round for sewts

Bayern Kapital

Landshut/Munich, Germany, 09 August 2023 Robotics start-up sewts has successfully completed a Series A funding round with a total volume of EUR 7 million. The Munich-based firm´s business model won over several top-tier robotics investors. A number of renowned international capital providers, namely Emerald Technology Ventures, CNB Capital, EquityPitcher Ventures and Nabtesco Technology Ventures, have joined existing investors Bayern Kapital, APEX Ventures and HTGF, which are increasing their investment from the seed funding round in 2021.

Driven by technological progress, solutions based on robotics and AI are becoming increasingly prevalent in the world of work across a range of different industries. In the manufacturing and processing industry, there are already countless solutions for processing solid, form-stable raw materials such as metals. However, automation continues to pose a challenge when dealing with deformable and soft materials such as textiles or semi-finished products made from carbon fibre. This affects the clothing and textile industry and large-scale laundries in particular, which are struggling to find staff.

sewts GmbH, founded in 2019 by engineering students Alexander Bley, Tim Doerks and Till Rickert using an EXIST Business Start-up Grant, endeavours to meet this need. With its unique combination of AI, robotics and material simulation, the Munich-based company has a vision to become the world´s  leading partner for automation processes for easily deformable materials. sewts has designed innovative control and image processing software that allows robots to use smart algorithms developed in house to predict in real time how materials with an unstable form will behave when gripped and to respond with precision.

Market introduction and further use cases in textile production

In 2022, sewts launched VELUM, its first product ready for series production. VELUM is a robotic unit designed for industrial laundries that feeds wrinkled towels and other towelling products into the folding machine, thus helping to automate a predominantly manual activity. Up to 700 items can be processed per hour, at a speed similar to that achieved by humans. The product helps to overcome core challenges in the textiles sector, such as labour shortages, and considerably enhance process efficiency.

Alongside the market launch of VELUM, sewts is already developing further automation solutions along the textile production life cycle. Last year, with support from the Otto Group, the Munich-based startup created a prototype for the automated handling of returns in online shopping. The founders´  long-term vision is to manufacture clothing using automated robotics solutions.

“We are delighted to announce that our Series A funding round has concluded and would like to thank all of the investors for the trust they have placed in us”, says  sewts co-founder and co-CEO Alexander Bley. “We will use this fresh capital to progress with our growth targets internationally. These include launching further VELUM systems in international large-scale laundries and, as a next step, refining our prototype for the automated handling of returns in online shopping.”

“With VELUM, sewts has brought an innovative product solution to markt maturity and is already planning further promising automation solutions for the textile industry”, says Monika Steger, Managing Director of Bayern Kapital.  “textiles recycling are returning closer to the consumer market. In this way, sewts is making a key contribution to overcoming staff shortages in textile firms and reaching global climate targets.”

 

About sewts:
Founded in 2019 and based in Munich, sewts GmbH provides cutting-edge perception software, pushing the boundaries of robotics in processing of easily deformable materials. sewts has developed and demonstrated a unique technology that uses high-precision simulations to efficiently train machine learning algorithms. The intelligent software solution is being combined with suitable hardware and enables countless applications in industrial automation like the handling of textiles in industrial laundries or the manufacturing of garment. sewts is backed by APEX Ventures, Bayern Kapital, CNB Capital, Emerald Technology Ventures, EquityPitcher Venture, High-Tech Gründerfonds, UnternehmerTUM Initiative for Industrial Innovators, Nabtesco Technology Ventures and a couple of highly experienced business angels.
www.sewts.com

 

About Bayern Kapital:
Bayern Kapital GmbH, based in Landshut (Germany), is the venture/growth capital company of the Free State of Bavaria. It supports innovative high-tech companies in Bavaria through their various growth phases, from seed to later stage, with equity capital from EUR 0.25 to 25 million. Bayern Kapital often closes gaps in the VC area in proven consortium arrangements with private investors (business angels, family offices and corporate ventures).

Bayern Kapital manages specialist investment funds with a volume of around EUR 700 million. Since its formation in 1995 at the initiative of the state government, the wholly-owned subsidiary of LfA Foerderbank Bayern has invested around EUR 450 million of its own equity capital so far in around 300 start-ups and scale-ups from industries such as life sciences, software & IT, materials & new materials, nanotechnology and environmental technology. More than 8,000 long-term jobs in sustainable companies have been created in Bavaria. The active portfolio currently comprises around 80 companies.

Examples of the many ground-breaking success stories that Bayern Kapital has already supported at an early stage include EOS (now the world´s leading technology provider in industrial 3 Dprinting of metals and plastics), Proglove, Fazua, SimScale, Scompler, egym, Parcellab, Cobrainer, Quantum Systems, Casavi, Riskmethods, Tubulis, Catalym, Immunic, Sirion, tado and many more.
www.bayernkapital.de

Press contact Bayern Kapital:
IWK Communication Partner
Florian Bergmann
Ohmstraße 1, 80802 München
+49 89 200030-39
bayernkapital@iwk-cp.com
www.iwk-cp.com

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KKR Acquires $373 Million Portfolio of Prime Auto Loans

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that private credit funds and accounts managed by KKR have purchased a $373 million portfolio of prime auto loans from Synovus Bank.

This investment aligns with KKR’s asset-based finance (ABF) strategy, which focuses on privately originated and negotiated credit investments that are backed by large and diversified pools of financial and hard assets, with attractive risk-adjusted returns. KKR has made 65 ABF investments globally since 2016 through a combination of portfolio acquisitions, platform investments and structured investments. The firm has approximately $42 billion in ABF assets under management and a team of more than 50 professionals directly involved in the ABF effort globally.

“We continue to see opportunities to provide capital to the banking community and believe that the combination of our scale, deep ABF investment expertise and ability to execute efficiently positions us to be a partner of choice for these types of transactions,” said Dan Pietrzak, Global Head of Private Credit at KKR.

“There is an immense opportunity for scaled private capital investment across the ABF space, especially as traditional lenders increasingly focus on optimizing their balance sheets and increasing liquidity,” said Avi Korn and Chris Mellia, Managing Directors at KKR.

KKR made the investment through its private credit funds and accounts.

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.

Media:
Julia Kosygina
+1 212-750-8300
Media@kkr.com

Source: KKR

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Tripleseat Announces Strategic Acquisition of Attendease for Unparalleled Event Management Solutions

Vista Equity

CONCORD, Mass., Aug. 8, 2023 /PRNewswire/ —  Tripleseat, the leading innovator in cloud-based event management software for the hospitality industry, proudly announces today the strategic acquisition of Attendease, a world-class meeting and event software for enterprise and corporate event planners.

The acquisition is a natural fit. It combines two separate ecosystems, social and corporate event planners and event managers at restaurants and hotels. The sales and event management platform of Tripleseat and the Attendease event planner application come together for a frictionless planning process, further entrenching Tripleseat as the powerhouse in end-to-end event management solutions. The combined company will operate under the Tripleseat brand and will be managed by Jonathan Morse, Tripleseat co-founder and CEO.

“With this acquisition, we will expand our offerings with specialized and flexible event planning and management tools – for social and corporate event planners. Tripleseat will now be the one-stop shop for people to locate the perfect venue and manage and market their event,” Morse said in a statement. “Attendease provides functionality that empowers planners with dynamic features such as event registration, ticketing, VIP and speaker management, website building, and data-driven reporting  that will integrate with Tripleseat’s sales and event management platform.”

The Tripleseat acquisition of Attendease is a game-changer for restaurants and hotels. It provides a one-of-a-kind integration to event planners looking to book an event at their venue. In addition, event planners will now have a seamless and easy experience finding, booking, and planning their weddings, corporate events, birthday parties, or tradeshows.

Tripleseat will always continue providing award-winning customer support for existing and new customers. As the event industry continues to evolve, Tripleseat remains committed to delivering innovative solutions to empower event professionals with the tools to thrive.

About Tripleseat
Tripleseat is a sales and event management platform used by more than 15,000 venues globally, enabling event managers to streamline the planning process and increase sales. To date, the Tripleseat platform has helped venues book over 10 million events and capture $15 billion in event leads. To learn more about Tripleseat or to schedule a demo, please visit www.tripleseat.com.

Media Contact: 
Dana Yerid
Vice President of Marketing
978-614-0490
363515@email4pr.com

SOURCE Tripleseat

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ToxStrategies Acquires Modality Solutions

Renovus

August 8, 2023 – PHILADELPHIA – ToxStrategies, a best-in-class, multidisciplinary scientific consulting firm, today announced the acquisition of Modality Solutions (“Modality”). Founded in 2011 by Gary Hutchinson and Dan Littlefield, Modality optimizes the biopharmaceutical cold chain for novel, fragile, and controlled-temperature medical therapies and provides expert counsel on the complex filing requirements for these advanced drug products. In addition, Modality specializes in shipping validation testing using next generation, multi-modal simulation technologies. Pharmaceutical and biotech clients increasingly depend upon Modality to assist in the development of cold chain operations, as therapies have become more sensitive to changes in temperature. ToxStrategies is a portfolio company of Renovus Capital Partners. Terms of the transaction were not disclosed.

ToxStrategies partnered with Renovus Capital Partners in November 2022 with the goal of expanding its existing client base and developing new end markets. The acquisition of Modality by ToxStrategies brings together two best-in-class consulting firms within the life sciences industry, creating greater diversification across the customer base. Mssrs. Hutchison and Littlefield will continue to lead Modality as a Division of ToxStrategies.

“The partnership between ToxStrategies and Modality is an ideal strategic fit,” said Laurie Couture Haws, President of ToxStrategies. “Our centralized platform will allow us to cross leverage expertise to better serve our clients across life sciences sectors. We are pleased to welcome Gary, Dan, and the Modality team to ToxStrategies.”

Mr. Hutchison added, “We are thrilled to become part of the ToxStrategies platform. The combination of our capabilities will provide continued growth opportunities by allow us to engage with a broader client base, as well as with a with additional segments of the drug development life cycle than before.”

“ToxStrategies has benefitted from being one of several Renovus portfolio companies in the life sciences industry, giving it access to a vast network of relationships, capabilities, and industry expertise,” said Jesse Serventi, a founding partner at Renovus Capital Partners. “We are now excited to support ToxStrategies’ acquisition of Modality, which brings deep expertise in cold chain development and the regulatory processes central to the life sciences industry. We are confident that this acquisition will further enhance ToxStrategies’ capabilities as a leading life sciences consultant and create numerous growth opportunities for the company.”

About ToxStrategies

ToxStrategies is a multidisciplinary scientific consulting firm specializing in toxicology, epidemiology, exposure sciences, industrial hygiene and safety, and regulatory compliance. They are a cutting-edge firm that strives to develop innovative solutions to address the complex scientific, technical, and regulatory challenges confronting their clients. ToxStrategies has a reputation for applying sound science and novel approaches tailored to meet the specific needs of their clients, whether a rapid response or a comprehensive analysis is required. The ToxStrategies’ team of toxicologists, epidemiologists, industrial hygienists, engineers, exposure scientists, modelers, biostatisticians, information specialists, and regulatory specialists are recognized as leaders in their respective disciplines and bring a high level of technical expertise to every project. ToxStrategies has extensive experience assessing potential health risks associated with exposures to a wide variety of consumer products, food ingredients and additives, pharmaceuticals, medical devices, pesticides, industrial chemicals and environmental contaminants. ToxStrategies is headquartered in Texas and has offices and remote consultants throughout the US, Canada and England. For more information, please visit www.toxstrategies.com and on LinkedIn.

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Carlyle and Quest Global Enter into a Strategic Partnership

Carlyle

Singapore, August 8, 2023 – Global investment firm Carlyle (NASDAQ: CG) and Quest Global, one of the world’s leading engineering services firms, today announced they have reached a definitive partnership agreement whereby Carlyle will be acquiring a significant minority stake in the company. Equity for this transaction will come from funds managed and advised by entities affiliated with Carlyle Asia Partners.

As part of this transaction, current investors Bain Capital and Advent International will exit; Quest Global will repurchase its company shares; and Ajit Prabhu, Chairman and CEO of Quest Global, will acquire an additional stake in the company. The partnership approach taken for this transaction demonstrates Quest Global’s commitment to the long-term success of its business strategy and its employees.

Established over 25 years ago and headquartered in Singapore, Quest Global is a leading global player in engineering, research and development (“ER&D”) services for the design, product development and operations of complex engineering systems. It currently has a multi-disciplinary team of over 17,500 engineers, across 67 delivery centers and offices, in 17 countries globally, that is dedicated to helping solve its clients’ engineering challenges better and faster.

Amit Jain, Managing Director and Head of Carlyle India Advisors, said, “We have known Ajit for two decades and we believe he has demonstrated visionary leadership over these years. Carlyle was the first early-stage private equity investor in Quest Global and we are proud to partner again. We believe the company’s undivided client centricity, drive for engineering excellence, differentiated global delivery model and the entrepreneurial energy of the management team have enabled it to scale successfully across a diverse set of industry verticals. Looking ahead, our view is that Quest Global is well-poised to benefit from the growing focus on product innovation, digital engineering, embedded systems, increased outsourcing and disruptive technology advancements across industries. We look forward to working closely with Quest Global’s management team while leveraging Carlyle’s deep sector expertise and global network to help the company expand its global leadership in the ER&D space.”

“At Quest Global, we believe engineering has the unique opportunity to solve the problems of today that stand in the way of tomorrow – to create a brighter future. It was a great value-added partnership with Carlyle the first time around, and I look forward to working with Carlyle again, to propel us in the journey ahead. Together, I am confident we will deliver on our mutual commitment to provide cutting edge engineering solutions to our clients around the world, while preserving our entrepreneurial culture,” said Ajit Prabhu, Chairman and CEO of Quest Global.

“We are thankful for the partnership of Bain and Advent for their instrumental role in advancing the company’s purpose and growth trajectory. Their strategic insights and unwavering support have been invaluable,” added Mr. Prabhu.

The transaction remains subject to satisfaction of certain conditions precedent to closing, including customary regulatory approvals.

Barclays, J.P. Morgan, BNP Paribas and Latham & Watkins served as advisors to Quest Global on the transaction; and Deutsche Bank, Clifford Chance, KPMG and Trilegal served as advisors to Carlyle. Barclays, BNP Paribas, Citibank, Deutsche Bank, HSBC, ING, J.P. Morgan, Nomura, Standard Chartered Bank, Allen & Overy and Linklaters helped arrange financing for the transaction.

Carlyle’s buyout funds, including Carlyle Asia Partners, have well-established experience investing in the technology and business services sector, and have invested over US$35 billion of equity in over 280 deals globally as of June 30, 2023, with approximately US$5.6 billion of this in Asia.

 

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About Quest Global

Founded in 1997, Quest Global is one of the world’s leading engineering research and development (ER&D) services companies. Quest Global believes engineering has the unique opportunity to solve the problems of today that stand in the way of tomorrow. For more than 25 years, the Company has strived to be the most trusted partner for the world’s hardest engineering problems. As a global organization headquartered in Singapore, team at Quest Global live and work in 17 countries, with 67 global delivery centers and offices, driven by 17,500+ extraordinary employees who make the impossible possible every day. Quest Global delivers world-class end-to-end engineering solutions by leveraging deep industry knowledge and digital expertise. By bringing together technologies and industries, alongside the contributions of diverse individuals and their areas of expertise, Quest Global is able to solve problems better, faster. This multi-dimensional approach enables the team to solve the most critical and large-scale challenges across the aerospace & defense, automotive, energy, hi-tech, healthcare & medical devices, rail, and semiconductor industries.

 

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $385 billion of assets under management as of June 30, 2023, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

 

Media Contacts

Quest Global

Anubhuti Agarwal

Tel: +91 990 331 6945

Email: Anubhuti.Agarwal@quest-global.com

Quest Global LinkedIn: https://www.linkedin.com/company/quest-global/mycompany/

 

Carlyle

Lonna Leong

Tel: +852 9023 1157

E-mail: lonna.leong@carlyle.com

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