Category Archives: News

DIF Capital Partners signs acquisition of largest UK co-location solar and battery portfolio from Cero Generation and Enso Energy

DIF

DIF Capital Partners is pleased to announce that, together with ib vogt, it has signed the acquisition of a 100% interest in a greenfield portfolio of ready-to-build co-located solar and battery projects from Enso Green Holdings Limited (EGHL). This is a joint venture between Cero Generation and Enso Energy. DIF’s investment is being done through its DIF Infrastructure VII fund, which will acquire a 90% interest.

The UK-based portfolio has been developed by EGHL and is understood to be the largest co-location portfolio of solar and (battery) storage in the UK, consisting of seven sites with a total capacity of 720MW (380MW of solar and 340MW of battery storage). Solar EPC and O&M services will be provided by ib vogt.

The acquisition of each project will be completed once each site reaches the ready-to-build stage. The first two projects have already been acquired and have started construction; the expectation is that all projects are acquired by mid-2023 and that they are operational between 2024 and 2026. All individual sites are expected to benefit from CfD contracts or PPAs with corporate or utility offtakers.

DIF and ib vogt are currently in the process of raising a non-recourse debt financing facility to fund the construction of the portfolio.

Gijs Voskuyl, partner and Head of Infrastructure at DIF Capital Partners, said: “This transaction perfectly fits in DIF’s build to core strategy and will make a significant contribution to the UK’s efforts to achieve net zero by 2050. It represents DIF’s first direct investment into the asset class of utility scale energy storage, which is an essential component of future electricity markets. DIF is continuing to work closely with Enso Energy and Cero Generation to bring the remaining assets in the portfolio to ready-to-build stage and is excited to make this investment in a partnership with ib vogt”.

Commenting on the transaction, Marta Martínez Queimadelos, CEO of Cero Generation, said: “We are delighted that DIF and ib vogt will be taking forward this sizeable portfolio into the next phase of its lifecycle. They will be continuing our work with Enso Energy following the development of the projects from conception through planning, and successfully to ready-to-build. This portfolio will make a significant contribution to the UK’s efforts to achieve net zero by 2050, with the co-location of solar and battery storage playing a key role in the de-carbonisation of the grid. We will continue to develop and deliver the UK solar and battery projects in the joint venture’s existing pipeline, which extends to 5GW, and a further 5GW of early-stage opportunities.”

Andrew King, Managing Director of Enso, commented: “The sale of these ready-to-build assets is the culmination of a lot of hard work by the Enso and Cero teams, and we look forward to seeing the DIF/ib vogt team take them forward to construction and operation. This transaction provides further evidence that co-located solar and battery storage projects connecting directly to the transmission network are attractive to funders and investors and will play an important role in the delivery of the UK’s net zero plans”.

DIF was advised by Elgar Middleton, Lazard and CMS. EGHL was supported by PKF and TLT through the transaction.

 

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with more than EUR 15 billion of AUM. DIF was founded in 2005 and has built a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds invest in lower risk mid-sized infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as PPPs and concessions. The firm’s CIF funds invest in small to mid-sized companies that will thrive in the new economy. These companies are typically active in the digital, energy transition and sustainable transportation sector.

With a team of over 210 professionals in 11 offices, DIF Capital Partners offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

For more information, please visit www.dif.eu.

About Cero Generation

Cero Generation is a leading renewables platform working across Europe to support the transition to a net-zero future, for this and every generation.

Active throughout the project lifecycle, from development through to construction and operations, Cero’s highly experienced team brings world-class industrial, commercial and technical expertise to its projects.

Cero’s 11GW development portfolio is one of the largest in Europe, covering utility-scale solar as well as integrated energy storage solutions. Cero works closely with local development partners and suppliers to deliver high-quality, high-performing assets.

Cero is an independent portfolio company of Macquarie’s Green Investment Group (GIG), operating on a stand-alone basis.

About Enso Energy

Enso Energy is one of the UK’s most experienced renewable energy developers, focused on developing renewable energy sites that drive the transition to net zero.

Enso’s team of experts have a deep understanding of the energy industry and how to meet the requirements of a fast-moving sector. With a background in large scale renewable energy, the team have delivered over 1.2GW of renewable energy and storage projects since 2019.

Enso Energy believes that it is only with the support of the people most affected by renewable energy development that we can keep the lights on. That is why Enso’s expert team is honest, considerate and diligent with an ambition to use the latest solar technology to make a positive impact on the country and the communities it works in.

To find out more visit: https://www.ensoenergy.co.uk/

 

Contacts:

DIF: Diederik Heinink, d.heinink@dif.eu

Cero / Enso: cero@standagency.com

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Advent International invests in LBS Group, a leading pest control operation and hygiene solutions provider in Greater China

Shanghai, 23 February 2023 – Advent International (“Advent”), one of the world’s largest and most experienced private equity investors, today announced that it has invested in LBS Group (“LBS”), a leading pest control operation (PCO) and hygiene solutions provider in Greater China.

LBS Group offers a wide range of pest control and hygiene management products and services in Asia. It has grown its offering since it was established in 1998 to include integrated pest control management, hygiene services, Sani-Mist germicidal treatment and grease remedial services for global F&B customers, retailers, offices, hotels, and industrial and household customers. The company is a major player in the PCO industry and operates in more than 30 cities across Greater China and southeast Asia.

The PCO market in China is expected to see rapid growth at a mid-teen CAGR over the next five years thanks to increasingly stringent hygiene standards and pest control requirements as well as improving food safety regulations. Advent’s investment in LBS Group will support the company’s continuing growth initiatives and its leading position in China’s PCO industry.

Irene Liu, Principal of Advent, commented, “Riding on China’s steadily increasing urbanization rate and improved hygiene standards, we believe the PCO sector has strong growth prospects. We are impressed by LBS’ superior service quality and very pleased to partner with its experienced and highly motivated team. We plan to contribute our global resources and relevant industry expertise to support the business.”

Franco Lam, Chairman of LBS Group, said, “I am excited to work with Advent during our next stage of growth in Greater China. I believe we will be great partners and LBS Group will continue to deliver excellent customer services.”

Andrew Li, Managing Director, Head of Greater China of Advent, said, “This deal reflects Advent’s continued commitment to invest in the Greater China region and our confidence in building successful businesses with the support of our global network. LBS has a strong track record in providing pest control and hygiene solutions and quality services to customers. We look forward to helping it grow and expand its footprint in the region.”

Advent has made multiple investments across Greater China, including Wagas Group, a major lifestyle F&B group in China; AI Dream, China’s leading branded sleep solution provider and the largest player in the country’s premium mattress market; BioDuro, a global life sciences contract research and development organization with major operations in Shanghai, Beijing and San Diego; and GS capsule, the largest domestic capsule provider in China.

About LBS Group

Founded in 1998, LBS Group is a pest control and hygiene solutions company with complementary services such as digital IoT pest monitoring, air purification and desludging services. As Greater China’s leading pest control company, LBS meets the needs of a wide range of customers in Greater China and the broader region and is the go-to vendor for many of its business partners in Food Services, Retail, Hospitality, Manufacturing and other end markets. Central to LBS’ culture and philosophy is the importance of caring about people. The concept of “planting the seed and the fruit will follow” is a core value embraced by every LBS employee. Respect, collaboration, helping others to succeed and community service before self-advancement has empowered the LBS team to strive for sustainable growth and build a bright future together.

 

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 405 private equity investments across 42 countries, and as of September 30, 2022, had $89 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 290 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, please visit
www.adventinternational.com and follow Advent on LinkedIn.

 

Media contacts

FTI Consulting
Izzie Shen (Shanghai)
Tel: +86 21 2315 1068
izzie.shen@fticonsulting.com

Jenna Qian (Hong Kong)
Tel: +852 9839 0019
jena.qian@fticonsulting.com

 

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Gaw Capital Partners and A3 Capital Jointly Form a JV Platform with the Launch of the first Infinaxis Data Centre in Malaysia

Gaw Capital

Malaysian Investment Development Authority (MIDA) and Malaysia Digital Economy Corporation (MDEC) Welcome the JV Partnership to Enhance Digital Infrastructure in Malaysia

22 February 2023, Singapore/Kuala Lumpur — Real estate private equity firm Gaw Capital Partners announced today that the firm, has formed a JV platform jointly with A3 Capital to invest into greenfield and under-performing data centre assets across key markets in the Southeast Asia region. The collaboration is aimed to create a portfolio of Tier-3 certified data centre assets. This JV platform will also launch the Infinaxis Data Centre platform with a focus on developing Internet Data Centre (IDC) assets across the Southeast Asia region. The data centre assets under the JV platform will be managed by Infinaxis, staffed by an experienced data centre team originally under A3 Capital.  The JV platform’s first investment is located in Cyberjaya, Kuala Lumpur, Malaysia, with other pipeline opportunities in other neighboring countries like Indonesia and Singapore.

Cyberjaya is one of the largest IDC hubs in Malaysia, housing 67 per cent of the Multi-Tenant Data Centre market in Malaysia as of Q2 2021. Considered as the “Silicon Valley of Malaysia”, Cyberjaya, spanning around 29 square kilometers, is the nucleus of the Multimedia Super Corridor in Malaysia. Cyberjaya houses over 2,000 businesses, including SMEs, startups and multinational companies such as IBM, Fujitsu, Panasonic and Huawei, as well as seven universities, turning it into a regional and global ICT hub. Located in Cyberjaya, the seed investment consists of two greenfield sites with a combined plot area of 12,490 square meters. The JV platform will develop a 12 MW IT load IDC facility on one of the plots. The IT capacity will potentially be doubled in the future, with the second plot to be developed as an expansion site. The data centre assets under the JV platform will be operated by Infinaxis, which consists of seasoned industry experts with decades long track records in data centre, real estate and technology industries.

Kok Chye Ong the Managing Director and Head of IDC Platform, Asia (Ex-China) of Gaw Capital Partners said “Gaw Capital Partners is honored to work together with Infinaxis Data Centre Holdings as the platform operator. By forming this strong partnership, we will develop, acquire or reposition four to five data centres in different locations throughout Southeast Asia. The data centre demand in Malaysia is underpinned by strong internet traffic and high amount of data consumption. In recent years, the internet data growth in these areas have been further accelerated by the continued digital transformation of enterprises and 5G penetration. Also, several government initiatives over the last decade have made Malaysia an attractive market for data centres. However, the supply of quality data centres has not caught up with the technical demand from customers. We look forward to exploring more investment opportunities in this market.”

Zahri Mirza, Chief Executive Officer (CEO) for Infinaxis further added, “The outlook for data centre demand in Southeast Asia is indeed highly positive and our collaboration with Gaw Capital will allow us to fast track the delivery of services for our customers. Indeed, through our Gaw Capital partnership we have been able to gain support from MIDA and MDEC in processing the necessary regulatory approvals in a timely manner.”

The Malaysian Investment Development Authority (MIDA) and Malaysia Digital Economy Corporation (MDEC) welcome the JV partnership formed by Gaw Capital Partners and A3 Capital to launch the Infinaxis Data Centre platform, enhancing digital infrastructure in Malaysia. Data center facilities are now at the forefront of innovation and have been supporting the demand for mission-critical digital infrastructures and the cumulative growth of data. Not only do businesses rely on data centers for storage, but for disaster recovery and data management too.

Datuk Wira Arham Abdul Rahman, CEO of MIDA said “My sincere compliments to Gaw Capital Partners and A3 Capital for launching the Infinaxis Data Centre platform. Malaysia is the location of choice for industry leaders to site their best-in-class data centres. These combined efforts will definitely play a key role in enhancing our digital infrastructure.”

“The Government is committed to growing Malaysia as a data centre hub by developing infrastructure, facilitating innovation and strengthening frameworks guided by the MyDigital Blueprint and National Investment Policy (NIP). Anchored by the National Investment Aspirations (NIA), the NIP will outline practical strategies to prioritise nurturing innovative, high-impact, high-tech investments that create high value jobs,” added Datuk Wira Arham.

Ts. Mahadhir Aziz, CEO of MDEC, said, “As the nation’s lead digital economy agency, we are pleased to have facilitated this expansion in raising the overall infrastructure capacities in the data centre sector. This will be crucial as we seek to continue accelerating the growth of our digital economy, guided by the new national strategic initiative, Malaysia Digital (MD). MDEC will strive to form more effective collaborations and drive further facilitation on this front to ensure that the nation remains competitive and attractive to investments, towards establishing Malaysia as the digital hub of ASEAN.”

The JV platform is committed to incorporating ESG principles. Infinaxis plans to apply a staged implementation of more advanced sustainability features over time, considering the availability of options and unique circumstances at the respective sites. The data centres will be more efficient and sustainable, fundamentally making them more competitive which will increase the platform’s long-term value.

Gaw Capital Partners was named ‘Alternatives Investor of the Year: Asia’ at the PERE Awards 2021 after receiving the largest number of votes in a public ballot of the real estate industry. In recent years, IDC has been a focus sector for Gaw Capital Partners as the data centre industry is one of the cornerstones of the digital economy, which is growing rapidly with broad prospects. The firm was also highlighted for launching two data centre platforms in China and two in Pan-Asia. In September 2020, the firm closed fundraising for its first IDC platform, which invested in a portfolio of projects in partnership with IDC developers and operators in China, bringing the total equity raised to approximately USD1.3 billion with the aim to build “green, efficient, innovative and recyclable” data centre clusters.

The Asia region represents as one of the geographic frontiers in the data centre space with greater opportunities. The Gaw Capital data centre platform will also comprise data centres located in China, Indonesia, Japan, South Korea, Vietnam and now in Malaysia.

-END-

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Precision Strategies Secures Strategic Investment

Abry Partners logo

Precision Strategies (“Precision”), a leading strategy and marketing agency, today announced a new strategic investment from Abry Partners, a Boston-based investment firm. The partnership will fuel and accelerate Precision’s long-term growth and expansion strategy.

Founded in 2013, Precision brings integrated, campaign-style advocacy that harnesses strategic communications, digital, creative, paid media, data analytics, and organizing to help clients achieve their goals.  The agency’s work has been widely recognized, including an Emmy nomination, a Cannes Grand Prix, and multiple Gold Lion Awards, Webbys, and agency of the year awards.

“We founded Precision as a truly integrated agency that could bring world class expertise and cutting-edge services to campaigns, causes and corporations,” said co-founders Stephanie Cutter and Teddy Goff. “We’re excited to find a new partner in Abry to expand our reach and  work with us to drive continued growth and innovation as we enter our second decade.”

Abry Partners is known for its expertise in helping high-growth businesses reach their full potential, and their minority investment in Precision will bring new resources and valuable experience to the table. The firm’s investment will provide Precision with the strategic support it needs to expand its services, reach new markets, and continue delivering exceptional results to its clients.

“Precision’s decade-long record of groundbreaking growth and success make them an ideal partner,” said Medhini Srinivasan, Principal at Abry Partners. “We are proud to invest in Precision and are confident that this partnership will help accelerate its growth and drive positive outcomes for its clients.”

GP Bullhound served as advisor to Precision and BrightTower served as advisor to Abry Partners.

About Precision:

Precision is a leading public affairs firm providing integrated services and exceptional results for campaigns, corporations and causes. With offices in Washington DC and New York, the company provides services including strategic communications, digital engagement, paid media, crisis management, organizing and data analytics.

About Abry Partners:

Abry Partners is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over $90 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across its active funds.

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Gimv participates in Paleo’s Series A of EUR 12m, a Belgian pioneer in the alternative protein market

GIMV

Topic: Investment

Paleo is a Belgian precision fermentation company that allows food manufacturers to offer a “real taste” experience, by providing key ingredients for environmentally friendly and cruelty-free meat and fish alternatives. To scale and grow, Paleo raised EUR 12m euro in a Series A financing round, led by DSM Venturing and Planet A Ventures and joined by Gimv, SFPIM Relaunch, Beyond Impact, and Siddhi Capital.

Paleo focuses on myoglobin, a protein that makes plant-based foods look and taste like meat or fish in terms of color, smell, taste, and aromatic experience and provides added nutritional value. The meat and fish proteins of Paleo are identical to animal proteins and GMO-free, providing an important competitive advantage.

Michaël Vlemmix, Principal in the Life Sciences-platform of Gimv, indicates: “We are very enthusiastic to be able to support a Belgian pioneer in the Foodtech space and provide our expertise and network to build a leading company. Being able to produce a GMO-free myoglobin through precision fermentation is highly exciting and offers the possibility to become one of the key catalysts to bring the plant-based food industry to the next level. I am looking forward to being able to grow this company together with management and our international syndicate of specialized investors in the space.”

Bram Vanparys, Managing Partner and Head of Life Sciences adds: “The mission of Gimv’s Life Sciences platform is to invest in companies developing products that are significantly benefiting society, which perfectly matches Paleo’s mission of combining people’s health with our planet’s health.”

For more information, please read the full press release from Paleo attached.

 

Read the full document
 

Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

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PCF Insurance Services Secures $500 Million Preferred Equity Investment Co-Led by Carlyle Global Credit and HGGC

Valuation of $4.7 billion driven by 10% organic growth

LEHI, UTAH—February 17, 2023 — PCF Insurance Services (“PCF”), a top 20 U.S. insurance brokerage firm, today announced that it has secured a $500 million preferred equity investment in a transaction co-led by Carlyle’s Global Credit platform and private equity firm HGGC, an existing minority investor. PCF Insurance, led by Founder, Chairman and CEO Peter C. Foy and Chief Financial Officer and Chief Operating Officer Felix Morgan, also received significant investment participation in the transaction with funds managed by Owl Rock, a division of Blue Owl, and Crescent Capital, both of which have existing minority equity stakes in the business. At the time of investment, the valuation of PCF Insurance is $4.7 billion. J.P. Morgan served as the sole placement agent to PCF Insurance in connection with the transaction.

 

PCF Insurance is a risk management, benefits design, and insurance brokerage services company serving more than 415,000 clients. Since executing its management-led buyout in November 2021, PCF Insurance completed more than 100 partner transactions and increased its revenue to $700 million, while maintaining organic growth of 10%, by year-end 2022. Focusing on its proven practices, innovative, data-driven strategies, entrepreneurial spirit and the strong local relationships of its Agency Partners, PCF Insurance leverages the industry knowledge and experience of its more than 3,100 employees across 38 states to provide its first-class, highly diversified suite of services.

 

“This transaction marks a significant milestone in our pursuit of building a premier insurance brokerage firm in the U.S.,” said Foy. “We have built our agency-centric business model around long-term, sustainable growth, and I’m proud that PCF is positioned to continue investing in the growth of our agencies, especially during these recent times of economic uncertainty. We are grateful for the contributions of our partner investors who have supported us with the unique opportunity to accelerate growth.”

 

Gary Jacovino, Managing Director for Carlyle Global Credit, said: “PCF Insurance Services has experienced tremendous growth as a result of its unique client- and employee-centric operating model. We are delighted to be partnering with an exceptional management team and group of Agency Partners, and are confident PCF will achieve its long-term strategic growth objectives with the support of Carlyle Global Credit, HGGC and our partner investors.”

 

Matt Roesch, Principal of HGGC and PCF Insurance board member, added: “We continue to be impressed with the growth and operational advancements PCF has achieved since the onset of our partnership in 2020. We elected to continue as minority shareholders after the management buyout in 2021 because we see a very bright future for the business, and we are thrilled to extend our partnership with PCF, working in collaboration with Carlyle’s Global Credit platform, to help fuel its next phase of growth.”

 

 

About PCF Insurance Services

A top 20 U.S. broker headquartered in Lehi, Utah, PCF Insurance Services is a leading full-service consultant and insurance brokerage firm offering a broad array of commercial, life and health, employee benefits, and workers’ compensation solutions. Propelled by its people, PCF Insurance’s agency-centric operating model and entrepreneurial environment support its tremendous growth profile, offering partner agencies alignment through equity ownership, significant leadership incentives, and resources. Ranked #20 on Business Insurance’s 2022 Top 100 Brokers and #13 on Insurance Journal’s 2022 Top Property/Casualty Agencies, PCF Insurance is a notable leader in the insurance space, with 3,100 employees across the U.S. Learn more at pcfins.com.

 

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $373 billion of assets under management as of December 31, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which it lives and invests. Carlyle employs more than 2,100 people in 29 offices across five continents. Further information is available at carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

 

About HGGC

HGGC is a leading middle-market private equity firm with over $6.9 billion in cumulative capital commitments. Based in Palo Alto, California, HGGC is distinguished by its Advantaged Investing approach that enables the firm to source and acquire scalable businesses through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Since its inception in 2007, HGGC has completed more than 600 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of over $71 billion. More information, including a complete list of current and former portfolio companies, is available at hggc.com.

 

About Blue Owl

Blue Owl is a global alternative asset manager with $138.2 billion of assets under management as of December 31, 2022. Anchored by a strong permanent capital base, the firm deploys private capital across Direct Lending, GP Capital Solutions and Real Estate strategies on behalf of Institutional and Private Wealth clients. Blue Owl’s flexible, consultative approach helps position the firm as a partner of choice for businesses seeking capital solutions to support their sustained growth. The firm’s management team is comprised of seasoned investment professionals with more than 30 years of experience building alternative investment businesses. Blue Owl employs over 545 people across 10 offices globally. For more information, please visit blueowl.com.

 

About Crescent Capital

Crescent Capital is a global credit investment manager with $40+ billion of assets under management. For over 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately originated debt securities including senior bank loans, high yield bonds, and private senior, unitranche, and junior debt securities. Crescent Capital is headquartered in Los Angeles with offices in New York, Boston, Chicago and London and more than 210 employees globally. For more information, please visit crescentcap.com.

 

# # #

 

 

For PCF Insurance Services

Dix & Eaton

Amy McGahan

216-241-3027

amcgahan@dix-eaton.com

 

For Carlyle

Charlie Bristow

+44 7384 513568
charlie.bristow@carlyle.com

 

For HGGC

Tom Faust

646-502-3513

tfaust@stantonprm.com

 

For Blue Owl

Nick Theccanat

212-970-6868

nick.theccanat@blueowl.com

 

For Crescent Capital

Investor Relations

310-235-5901

investor.relations@crescentcap.com

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Donier Gastronomie Oy continues its expansion by acquiring Cheese Witches Oy

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Folmer

Donier Gastronomie Oy, a portfolio company of Folmer Equity Fund II Ky, has acquired its
long-term business partner Cheese Witches Oy. The deal implements Donier
Gastronomie’s growth strategy and brings more know-how and opportunities for the
specialty cheese segment.

Fast-growing wholesaler Donier Gastronomie Oy, which serves high-quality domestic and European food products,
expands its operations by acquiring Cheese Witches Oy. With the acquisition, Donier Gastronomie’s operational
capabilities in the specialty cheese market expand further. Donier Gastronomie’s current service offering and
networks will be supplemented, especially on the retail side, with possibilities to realize significant synergies. Cheese
Witches continues to operate as part of the Donier Gastronomie group. The transaction has no impact on the
companies’ employees or other relations.

Cheese Witches’ revenue is approximately EUR 3 million, and its employees have extensive experience of working
with special cheeses. Cheese Witches’ entrepreneur Merja Sydänmaa-Kaartinen continues to manage the company
and becomes a shareholder of the Donier Gastronomie group. After the acquisition, the revenue of the Donier
Gastronomie group is approximately EUR 16 million.

For more information:
Managing Director, entrepreneur Alexandre Donier, Donier Gastronomie Oy, tel. +358 44 033 0028,
alexandre.donier@doniergastronomie.fi (in English)
Merja Sydänmaa-Kaartinen, entrepreneur, Cheese Witches Oy, tel. +358 41 319 5672,
merja.sydanmaa-kaartinen@cheesewitches.fi

Donier Gastronomie Oy is a Finnish wholesaler of high-quality food products specializing in the import and
wholesale of dairy, meat, seafood and poultry products. www.doniergastronomie.com
Cheese Witches Oy is a full-service specialty cheese house. The company’s products are sold in more than 60 retail
stores.

Folmer Management Oy is a Finnish private equity company investing in Finnish SMEs. Folmer creates value
through active development work. Folmer provides companies with support and professional experience – a
requirement for success. www.folmer.fi
Folmer Equity Fund II Ky benefits from the support of the European Union under the Equity Facility for Growth
established under Regulation (EU) No 1287/2013 of the European Parliament and the Council establishing a
Programme for the Competitiveness of Enterprises and small and medium enterprises (COSME) (2014-2020).
Businesses can contact selected financial institutions in their country to access EU financing:
www.access2finance.eu.

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Altor acquires majority of VTU and partners with management

Stockholm/Vienna, 17/02/2023 – Altor Funds (“Altor”) have signed an agreement to acquire a majority in VTU Group GmbH (“VTU”), a leading Life Sciences and Green Transition process engineering company, from funds advised by DPE Deutsche Private Equity Management III GmbH. VTU’s management will reinvest in the Company.  Altor will support VTU’s strategy to become a European leader in high value-added process engineering services for Life Sciences industries and a sector specialist in Green Transition process engineering.  The closing is subject to regulatory approval.

 

Founded in 1990 in Graz, Austria, VTU is a process engineering company servicing blue-chip customers in the Life Sciences and Fine Chemicals industries as well as in Green Transition projects in existing and emerging industries. The Company provides quality services for its customers along the whole value-chain of their investment projects: from project development, design, high-end digitalisation to project management as an integrated part of VTU’s services for structurally growing industries. VTU is an EPCMv provider (Engineering, Procurement, Construction Management and Validation) with more than 1,200 employees across Austria, Germany, Switzerland, Italy, Poland, Romania, and Belgium.

 

In 2022, VTU reported annual revenues of approx. 175 million Euros. Over more than a decade, VTU has grown revenues and its employee base by a compound annual growth rate (CAGR) of around 20 percent.  

 

Dr. Friedrich Fröschl, CEO at VTU Group, said: “We were deeply impressed by the Altor partnership approach from the outset: an entrepreneurial mindset, with curiosity, creativity, and sustainability at the core of its DNA. We are convinced that Altor is a perfect match for VTU Group as we embark on the next phase of VTU’s success story. We are very excited to working together with the Altor team and create sustainable value for our customers, employees and allstakeholders.“

 

Giovanna Maag, Partner at Altor, said: “We are excited to invest in VTU and looking forward to partnering with its strong and experienced management team. The Company builds on very strong foundations: it has advanced process engineering capabilities, a reputation for quality, long-standing and trusted relationships with numerous blue-chip clients in the Life Sciences sector and provides process engineering know-how for Green Transition applications.” 

  

The investment in VTU marks Altor’s fifth acquisition in the DACH region. Currently, Altor is invested in Zahneins (dental practices), oceansapart (athleisure), Käfer (industrial services),  and Kommunalkredit (financial services; closing pending).

The Altor investment in VTU is another example for the firm’s investment strategy that puts a strong emphasis on partnering with companies with compelling sustainability agendas. Examples for this approach are H2GreenSteel (green steel powered by green hydrogen), OX2 (one of Europe’s leading developers of renewable energy sources) and Trioworld (circular plastics), amongst others.   

 

 

 

About Altor

Since inception, the family of Altor funds has raised EUR 8.3 billion in total commitments. The funds have invested in more than 85 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 Carnegie, C WorldWide, Sbanken, OX2, H2 Green Steel, Vianode and Svea Solar.

For more information visit www.altor.com

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Open-source platform Kern AI raises €2.7 million in seed funding to power data-centric natural language processing

Seedcamp

The advent of ChatGPT is just the tip of the iceberg of the emerging natural language processing (NLP) technologies and applications that are fundamentally changing human-computer interaction and, ultimately, our daily work.

With the increased adoption of model architectures and frameworks, developers are focusing more and more on improving the data used to train AI systems. Taking a data-centric approach enables them to use a set of common algorithms and then increase the number of training samples severalfold (e.g., from 10,000 to 50,000) or reduce the number of errors in the training data.

This is why we are excited to back Kern AI, a data-centric platform to power natural language products, workflows, and ETL pipelines. Founded by Johannes Hötter and Henrik Wenck in November 2020, the Germany-based company is building a platform designed for developers who want to implement data-centric NLP solutions. Its use cases range from internal workflows for operational or analytical purposes, such as complex customer-facing services, to building sophisticated NLP applications with their platform as the training database.

Johannes Hötter highlights:

“Kern AI aims to build software with an outstanding developer experience. We strive to provide users with the flexibility to create what they want and to reduce the time between an idea and its implementation. We are confident that Natural Language Processing (NLP) will continue to grow, and with Kern AI’s modular platform, developers have all the resources they need to deploy use cases. This is what we excel at and what we want to demonstrate to the world.”

Since launching in July 2022, the open-source version of refinery and of the content-library bricks have reached several thousand developers. Both projects are available to download on Kern AI’s GitHub page.

Aiming to empower developers to manage complexity, the Kern AI ecosystem consists of four products:

  • refinery – combines training data and algorithms in a way that developers and data scientists can easily build NLP automations
  • bricks – a collection of modular and standardized code snippets which can be directly integrated into refinery
  • gates – an online monitoring and inference API for data-centric models
  • workflow – the orchestration layer for natural language-driven tasks that allows building complex workflows, which can be triggered by a variety of events

The company’s suite of products is used by data scientists at AI-driven organizations (including Samsung, Barmenia, DocuSign, co:here, and Seedcamp-back crowddev) to perform label automation, cleansing, and monitoring. Further possible applications include retrieval, outbound classification, named entity recognition, sentimental analysis, and more.

On why we invested, our Managing Partner Carlos Espinal comments:

“Johannes and Henrik have a deep understanding of the needs of NLP developers and data scientists and the ability to execute efficiently at scale. With their unique product insights and developer-centric approach, Kern AI is well positioned to become a fundamental tool for every company leveraging NLP.”

We are excited to co-lead Kern AI’s  €2.7 million seed round alongside Faber, with participation from xdeck, another.vc, TKM Family Office, and business angels Marcus Nagel, Julius and Sebastian Heinz, Nicolas Peters, and Gerrit de Veer.

With the fresh funding, the team plans to expand their platform’s capabilities and use case catalogue, grow their developer community, and make it generally available to the public.

Starting today, Kern AI also onboards individual developers in their free tier. Join the waitlist and request a demo at kern.ai.

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Wendel Growth invests in Brigad, an online tool connecting self-employed professionals with hospitality and care establishments

Wendel

Wendel (Euronext: MF.FP), through its Wendel Growth1 investment arm, announced today the acquisition of a minority stake in Brigad with an equity investment of €7 million.

Brigad is an online tool connecting self-employed professionals with hospitality and care establishments.
Brigad meets a dual need:
• offering companies operating in tense sectors the support they need by connecting them with a community of around 15,000 skilled professionals and,
• meeting the growing demand for more flexible and diversified work patterns. Indeed, self-employed professionals are free, allowing them to choose their missions and arrange their work, according to their personal schedule and professional objectives.

Founded in 2016, Brigad has been a mission-driven company since 2020. It now operates in the 5 main cities in France (Paris, Lyon, Lille, Bordeaux and Marseille) as well as in London, Manchester and Birmingham. Brigad has 150 employees.
Antoine Izsak, Head of Growth Equity, said:
« We have been very impressed by the level of satisfaction expressed by talents and companies who are using Brigad. We look forward to working with Brigad to expand the company’s mission and technical skills of its teams far beyond its current borders, into new geographies and sectors.”

Florent Malbranche, Brigad CEO, stated:
“We are delighted to welcome Wendel into Brigad’s capital as it shows its willingness to invest and promote professions. In addition, its financial expertise will be a major asset for Brigad’s future growth.”
1 Formerly Wendel Lab

About Wendel Growth:
With Wendel Growth (formerly Wendel Lab), Wendel invests via funds or directly in innovative, high-growth companies. With close to €192 million already committed through the initiative in recent years, Wendel Growth seeks direct investment and coinvestment opportunities in startups. To make these direct investments, like the 2019 investment in AlphaSense and Tadaweb that should be finalized in 2023, Wendel Growth is supported by a team experienced in this asset class, including Antoine Izsak, who joined Wendel early 2022 as Head of Growth Equity. Mr. Izsak was previously Investment Director at Bpifrance. Wendel’s ambition is to invest up to €50 million in scale ups in Europe and North America and will continue to invest in funds.

More information: https://www.wendelgroup.com/en/companies/wendel-growth/

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