Category Archives: News

Carlyle and SK Capital Partners Announce Extension of bluebird bio Tender Offer to May 28, 2025

Carlyle

WASHINGTON, DC and NEW YORK, NY—May 13, 2025—Carlyle (NASDAQ: CG) (“Carlyle”), SK Capital Partners, LP (“SK Capital”) and Beacon Parent Holdings, L.P. (“Parent”) today announced that Beacon Merger Sub, Inc. (“Merger Sub”) has extended the expiration date of its offer (the “Offer”) to acquire all of the outstanding common stock of bluebird bio, Inc. (NASDAQ: BLUE) (“bluebird”), to expire at one minute after 11:59 p.m., New York City time, on May 28, 2025.  The Offer was previously scheduled to expire one minute after 11:59 p.m., New York City time, on May 12, 2025.

Equiniti Trust Company, LLC, the depositary for the Offer, has advised Merger Sub that as of the close of business on May 12, 2025, approximately 2,502,927 shares of bluebird common stock have been validly tendered and not properly withdrawn pursuant to the Offer. Holders that have previously tendered their shares do not need to re-tender their shares or take any other action in response to this extension.

The Offer is being made pursuant to the terms and conditions described in the Offer to Purchase, dated March 7, 2025 (as amended or supplemented from time to time, the “Offer to Purchase”), the related letter of transmittal and certain other offer documents, copies of which are attached to the tender offer statement on Schedule TO filed by Parent and Merger Sub with the U.S. Securities and Exchange Commission (the “SEC”) on March 7, 2025, as amended.

The Offer is conditioned upon the fulfilment of certain conditions described in “Section 15—Conditions to the Offer” of the Offer to Purchase, including, but not limited to, the tender of a majority of the outstanding shares of bluebird and other customary closing conditions.

About bluebird bio, Inc.

Founded in 2010, bluebird has been setting the standard for gene therapy for more than a decade—first as a scientific pioneer and now as a commercial leader. bluebird has an unrivaled track record in bringing the promise of gene therapy out of clinical studies and into the real-world setting, having secured FDA approvals for three therapies in under two years. Today, we are proving and scaling the commercial model for gene therapy and delivering innovative solutions for access to patients, providers, and payers.

With a dedicated focus on severe genetic diseases, bluebird has the largest and deepest ex-vivo gene therapy data set in the field, with industry-leading programs for sickle cell disease, ß-thalassemia, and cerebral adrenoleukodystrophy. We custom design each of our therapies to address the underlying cause of disease and have developed in-depth and effective analytical methods to understand the safety of our lentiviral vector technologies and drive the field of gene therapy forward.

bluebird continues to forge new paths as a standalone commercial gene therapy company, combining our real-world experience with a deep commitment to patient communities and a people-centric culture that attracts and grows a diverse flock of dedicated birds.

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 $441 billion of assets under management as of December 31, 2024, 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 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About SK Capital 

SK Capital is a transformational private investment firm with a disciplined focus on the life sciences, specialty materials, and ingredients sectors. The firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $12 billion annually, employs more than 25,000 people globally, and operates more than 200 plants in over 30 countries. The firm currently has approximately $9 billion in assets under management. For more information, please visit www.skcapitalpartners.com. 

 

Additional Information and Where to Find It

This communication is not an offer to buy nor a solicitation of an offer to sell any securities of bluebird. The solicitation and the offer to buy shares of bluebird’s common stock is only being made pursuant to the Tender Offer Statement on Schedule TO, including an offer to purchase, a letter of transmittal and other related materials, that Parent and Merger Sub filed with the SEC. In addition, bluebird filed with the SEC a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. Investors may obtain a free copy of these materials and other documents filed by Parent, Merger Sub and bluebird with the SEC at the website maintained by the SEC at www.sec.gov. Investors may also obtain, at no charge, any such documents filed with or furnished to the SEC by (i) bluebird under the “Investors & Media” section of bluebird’s website at www.bluebirdbio.com or (ii) by Parent and Merger Sub by calling Innisfree M&A Incorporated, the information agent for the Offer, toll-free at (877) 825-8793 for stockholders or by calling collect at (212) 750-5833 for banks or brokers.

INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THESE DOCUMENTS, INCLUDING THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 OF BLUEBIRD AND ANY AMENDMENTS THERETO, AS WELL AS ANY OTHER DOCUMENTS RELATING TO THE TENDER OFFER AND THE MERGER THAT ARE FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY PRIOR TO MAKING ANY DECISIONS WITH RESPECT TO WHETHER TO TENDER THEIR SHARES INTO THE TENDER OFFER BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE TENDER OFFER.

Investors & Media Contacts 

Bluebird 

Investors: 

Courtney O’Leary

978-621-7347

coleary@bluebirdbio.com

Media: 

Jess Rowlands

857-299-6103

jess.rowlands@bluebirdbio.com

 

Carlyle 

Media: 

Brittany Berliner

+1 (212) 813-4839

brittany.berliner@carlyle.com

SK Capital 

Ben Dillon

+1(646)-278-1353  

bdillon@skcapitalpartners.com

Categories: News

Ardian and Rockfield strengthen PBSA Strategy with new investment in Milan

Ardian

Ardian, a world-leading private investment house, and Rockfield Real Estate, a vertically integrated living platform, consolidate their position in the student living sector with a new investment in Milan as part of their pan-European strategy dedicated to Purpose-Built Student Accommodation (PBSA). They have signed a preliminary purchase agreement to acquire shares in a corporate vehicle backed by Blue Noble, an international real estate investment manager, and Hines, a global firm specialized in real estate investment, development, and management.

This transaction concerns aparto Milan Durando, a complex located on Via Giovanni Durando, in the Bovisa district, just a short walk from the Politecnico di Milano campus. It marks the fifth deal closed by Ardian and Rockfield in just six months since the launch of their European PBSA strategy. With four more deals in advanced stages across France, Spain, and the Netherlands set to be completed within the next two months, the European platform will have a total of 5,000 beds available.

The property consists of two buildings with approximately 610 beds. The first building, operational from January 2025, has already achieved nearly 100% occupancy, while the second one will be completed by September of this year. The entire complex, managed by aparto – Hines’ management platform for purpose-built student accomodation – offers a high-quality, sustainable living experience tailored to the needs of students, demonstrating how careful and innovative management can significantly contribute to the long-term value and attractiveness of the asset. The asset offers a rich program of activities and services designed to empower young talent communities and foster their connection with the city’s urban and social fabric.

Accommodation options include studio apartments with private kitchens and bathrooms, single rooms with private bathrooms in shared apartments, and double rooms with shared kitchens and bathrooms. In addition, the complex features numerous common areas, such as a lounge, cinema room, gym, yoga room, study areas, laundry facilities, and reception, all designed to encourage socialization and wellness.

Around 40% of the housing units are regulated and offer subsidized rents to address the growing demand for more affordable accommodation.

The student residence aims to achieve LEED Gold certification and features an EPC A energy class, reinforcing Ardian and Rockfield’s commitment to environmental and social sustainability and energy efficiency.

The property is strategically located and well connected to the center of Milan and is served by the Milano Bovisa FS railway station. The area will be further enhanced by the future North Interquartier Metrotramway, with completion expected by 2026.

Bovisa district is emerging as a rapidly growing area, thanks to the Politecnico di Milano campus, the Bovisa Technology Park, numerous start-ups, green spaces, and a growing network of services, making it one of the most dynamic hubs for the student community.

“This investment represents a strategic step in our long-term European vision dedicated to Purpose-Built Student Accommodation, a rapidly growing sector that is increasingly central to urban transformation. With this acquisition in Milan, we complete our fifth investment in facilities located in international university cities, with the aim of offering modern, sustainable, and high-quality housing solutions designed to meet the needs of new generations. For us, investing in student housing means contributing to the development of more inclusive, innovative, and green cities, by providing students with spaces that are not only functional but also stimulating and environmentally conscious”. Rodolfo Petrosino, Head of Real Estate Southern Europe and Senior Managing Director, Ardian

“Milan continues to establish itself as one of the leading university hubs in Europe, with over 200,000 students enrolled in the 2023/2024 academic year, including a growing share of non-resident and international students. Despite the growing number of students, Milan is one of the European cities with the lowest supply of available housing. This structural gap makes Milan one of the cities with the greatest investment opportunities. Our new investment, located in the heart of the Bovisa district facing the Politecnico university campus, directly addresses this need by offering approximately 610 beds in a modern facility that is seamlessly integrated into the urban fabric. The first building, already operational since January 2025, has reached nearly 100% occupancy within the first few months, confirming the strong market interest. This development not only enhances a fast-growing area but also helps strengthen Milan’s strategic role on the European student housing map”. Matteo Minardi, Head of Real Estate Italy and Managing Director, Ardian

“Ardian and Rockfield’s strategy is to create a diversified portfolio of high-quality assets, across continental Europe. The demand for student housing in Milan is in high demand and short supply driven by a growing student population. This acquisition perfectly fits our strategy of targeting acquisitions and forward-funding opportunities of best-in-class PBSA schemes. This acquisition underlines our clear ambition to become a leading player in the in the PBSA sector across Italy and southern Europe”. Juan Manuel Acosta, CIO Rockfield Real Estate

ABOUT ARDIAN

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

ardian.com

ABOUT ROCKFIELD REAL ESTATE

Rockfield was established in 2014 with a clear mission to create high quality and sustainable housing solutions for students, young professionals and families in urban areas. Our founders recognized the growing demand for affordable housing in major cities, coupled with an increasing need for innovative living concepts that not only provide a place to live but also enable residents to grow and thrive within a community.
With this vision in mind, Rockfield started a journey to build a fully integrated real estate company. From the start, we chose to keep all aspects of real estate management in-house, from project development and acquisition to investment and property management. This approach has allowed us to offer tailored solutions that meet needs of both investors and tenants.
Since our inception, we have experienced impressive growth and evolved into a leading investment manager with a portfolio of over €2 billion in assets under management and around 8,000 housing units across various European cities.

rockfield.nl

Media Contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

ROCKFIELD REAL ESTATE

Sander van Essen

Sander.van.essen@rockfield.nl

Categories: News

Tags:

Apollo Hybrid Funds to Acquire PowerGrid Services from The Sterling Group

Apollo logo

Investment Will Support Leading Provider of Electric Utility Maintenance and Construction Services in its Mission to Address Growing US Power Demand and Needed Grid Improvements

HARTSELLE, Ala. and NEW YORK, May 13, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE:APO) today announced that Apollo-managed funds and affiliates associated with its hybrid strategies (the “Apollo Funds”) have agreed to acquire a majority stake in PowerGrid Services (“PGS”), a leading provider of maintenance and construction services to electric utilities across the United States. The Apollo Funds will partner with existing PGS investors, including company management and The Sterling Group, to support PGS’s continued growth.

PowerGrid Services keeps the lights on across America by delivering essential utility services—from routine construction and maintenance to emergency response. With over 1,400 skilled in-house professionals and thousands more through its national vendor network, PGS brings scale and speed to utility customers nationwide. Its hybrid service model supports construction, repair and maintenance of the full power grid, including transmission, distribution, substations and vegetation management. PGS’s safety-first culture and reliability has made it a go-to partner for grid modernization and resilience efforts in over 35 states.

Quentin Gillette, CEO of PGS, and Beth Gillette, PGS Board Member and Strategic Advisor, said, “We are thrilled to announce this transaction with Apollo, which marks an exciting milestone for our company. We founded PGS with a clear vision to be a trusted utility partner dedicated to solving challenges, strengthening our nation’s electric grid and improving quality of life in the communities where we operate. Apollo’s operational and strategic support will help us level up our capabilities and growth while remaining true to our culture and core mission of providing safe and reliable services to our customers. We are also grateful for The Sterling Group’s support over the past several years.”

Craig Horton, Partner at Apollo, said, “We are proud to partner with Quentin, Beth and the entire PGS leadership team to support PGS’s growth as a trusted partner to electric utility customers across the US. Apollo is focused on meeting the capital needs of industries that are driving a Global Industrial Renaissance, and we believe PGS is well positioned to help meet the growing demand for power across the country through its contributions to grid stability and electric infrastructure. The investment by the Apollo Funds enables us to bring the considerable resources of the Apollo platform to bear to help accelerate PGS’s geographic expansion, both organically and through its targeted acquisition strategy.”

Kent Wallace, Partner at The Sterling Group, said, “Since 2021, our team has worked closely with PGS’s leadership group to help the company triple in size and deliver the infrastructure needed to meet critical electric grid services. We look forward to supporting the company’s continued success.”

The transaction is subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals.

J.P. Morgan Securities LLC acted as financial advisor to the Apollo Funds on the transaction, while Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel.

Lincoln International acted as financial advisor to PGS and its shareholders, including management and The Sterling Group, while Kirkland & Ellis LLP served as legal counsel.

About PowerGrid Services

PowerGrid Services (“PGS”) is a national provider of mission-critical electric utility services, offering a uniquely integrated platform across planned infrastructure work and rapid emergency response. Leveraging a hybrid service model that combines an in-house team of more than 1,400 skilled professionals with access to thousands of additional resources through our national vendor network, the company is built to respond quickly and safely when it matters most. PGS supports the full electrical infrastructure lifecycle, providing construction, repair, and maintenance from distribution and transmission to substations and vegetation management. The company’s commitment to safety and service excellence has made it a trusted partner for grid modernization, hardening, and event response to investor-owned utilities, municipalities, and co-ops across 35 states.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit www.apollo.com.

About The Sterling Group

Founded in 1982, The Sterling Group is a private equity investment firm that targets investments in manufacturing, distribution, and industrial services companies. Typical enterprise values of these companies at initial formation range from $100 million to $750 million. Sterling has sponsored the buyout of 74 platform companies and numerous add-on acquisitions for a total transaction value of over $25 billion. Sterling currently has $9.4 billion of assets under management. For further information, please visit www.sterling-group.com.

Past performance is no guarantee of future results and all investments are subject to loss.

Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

Franny Jones
Partner, Investor Relations
The Sterling Group
713-341-5756
IR@sterling-group.com

Categories: News

Tags:

AE Industrial Partners Closes Aerospace Leasing Fund II with $418 Million in Capital Commitments

No Comments
Ae Industrial Partners

Oversubscribed fund highlights strong investor interest in durable, risk-adjusted asset class

BOCA RATON, Fla.–(BUSINESS WIRE)–AE Industrial Partners, LP (“AE Industrial”), a private investment firm specializing in National Security, Aerospace, and Industrial Services, today announced the close of its second aerospace leasing fund, AE Industrial Partners Aerospace Leasing Fund II, LP (“Aerospace Leasing Fund II”), which was oversubscribed with total capital commitments of $418 million, reflecting strong support from both existing and new investors. Commitments came from a diverse mix of institutional investors, including public and private pensions, family offices, and endowments.

Established in 2020, AE Industrial’s aerospace leasing platform leverages its core competencies in sourcing, structuring, and managing late life current technology commercial aircraft and engines, business jets, and special mission aircraft modified for government contracts. To date, Aerospace Leasing Fund II has committed over 35% of its capital to acquire a fleet of 20 assets. With the close of Aerospace Leasing Fund II, AE Industrial broadens its leasing strategy, seeking attractive risk-adjusted returns designed to produce current income and capital appreciation for investors.

“We are grateful for the strong interest we have seen in our latest fund from both existing and new investors,” said David Rowe, Co-CEO & Managing Partner at AE Industrial. “This enthusiastic response underscores our team’s deep experience, track record, and global network. It also demonstrates that investors are looking for longer-term opportunities with strong underlying assets that can insulate them from market volatility while providing more predictable returns.”

“A convergence of industry tailwinds, including production bottlenecks, and airlines becoming more focused on utility and reliability, have continued to drive strong demand for commercial leased aerospace assets. This, coupled with the robust global growth for specialized or modified aircraft, creates unique well-structured investment opportunities,” said Nathan Dickstein, Partner and Head of Aerospace Leasing at AE Industrial. “With our dedicated capital and broader leasing platform, we will continue to provide innovative solutions to our global base of customers.”

About AE Industrial Partners Aerospace Leasing:
AE Industrial Partners Aerospace Leasing, the leasing platform of AE Industrial Partners, invests in asset-backed opportunities across the commercial, business, and special mission aerospace sectors. The dedicated investment team focuses on offering bespoke leasing solutions to its global customer base of airlines, corporates, and government entities. Leveraging the team’s deep technical knowledge and aircraft management expertise, AE Industrial Partners Aerospace Leasing seeks to build diversified, income-producing portfolios by opportunistically investing in assets under operating and finance leases. For more information, please visit www.aeroequity.com/aerospace-leasing/.

About AE Industrial Partners:
AE Industrial Partners is a private investment firm with $6.4 billion of assets under management focused on highly specialized markets including national security, aerospace, and industrial services. AE Industrial Partners has completed more than 130 investments in market-leading companies that benefit from its deep industry knowledge, operating experience, and network of relationships across the sectors where the firm invests. With a commitment to driving value creation in partnership with the management teams of its portfolio companies, AE Industrial Partners invests across private equity, venture capital, and aerospace leasing.

Media Contact:
Stanton Public Relations & Marketing
Matt Conroy
mconroy@stantonprm.com
(646) 502-3563

Categories: News

Tags:

Didask Secures €10M Investment to Enhance Corporate Online Learning

AVP
  • By placing skill development at the heart of organizational strategy, Didask transforms every training course into a true lever for sustainable, accessible, and personalized growth and performance.
  • Its eLearning platform is based on a unique approach combining instructional AI and cognitive science to rethink the way knowledge is transmitted and assimilated.
  • The company is now preparing for European expansion and  launching  a Knowledge Assistant dedicated to informal learning.

Paris, April 15th, 2025

Didask, a SaaS eLearning platform focused on significantly improving online training, has announced a successful €10 million fundraising round led by AVP (Atlantic Vantage Point) and Citizen Capital, with support from MAIF Impact, JuneX, and historical investor Takara Capital.

The company distinguishes itself with its scientific approach, while many competitors rely on gamification or ergonomics. The startup prioritizes educational effectiveness, offering structured and accessible training  to upskill employees.

An expert is not necessarily a teacher

The journey began in 2006 at ENS, where Son Ly and Arnaud Riegert observed that eLearning often fails to transmit skills effectively without a solid educational framework. Convinced of the key role that cognitive science plays in learning, they launched Didask in 2017 with Philip Moore. Their core ambition was to enable every expert to transmit their knowledge, regardless of their pedagogical skills.

Driven by this vision, they have continued to innovate. In 2019, they reimagined the LMS (Learning Management System) with a unique, scientifically validated authoring tool to structure training creation. Then, in 2022, they launched Didia, an intelligent teaching assistant that combined  AI and cognitive science to provide engaging,  highly accessible, and immediate applicable training.

Didask’s instructional AI empowers experts to develop engaging,  pedagogically sound online learning and microlearning content regardless of their technical skills. This technology streamlines the creation of high-quality training materials across diverse fields. Leveraging insights from cognitive science research, Didask incorporates evidence-based recommendations throughout the  training creation process. From defining learning goals and sub-goals to selecting effective pedagogical approaches and creating content, it automatically generates the most suitable formats to enhance learner engagement and progress (simulations, feedback, flashcards, micro-challenges, practical cases corrected by AI), tailoring a learning path for each learner’s needs.

Growth focused on international markets and informal learning

Already adopted by over 200 companies and training organizations (ENGIE, DEKRA, KEDGE Business School, MAGORA, BestDrive, Suez, DGAFP, PELLENC, Pierre et Vacances, French National Order of Chartered Accountants, etc.), Didask will continue to innovate thanks to this latest round of fundraising.

The company, which has doubled its revenue every year since 2022, will accelerate the technological development of its platform and instructional AI. The latter will soon include a Knowledge Assistant designed to boost informal learning and facilitate daily learning. Directly accessible from work tools, Didia will thus help employeesupskill  seamlessly and sustainably.

With a team of over 80 experts, Didask also aims for international expansion, particularly in Europe.

“I thank our investors for trusting in our vision: to develop a robust technology based on cognitive science to transform corporate training. This fundraising is a key step in making our educational technology accessible to all, helping employees learn effectively on a daily basis, and expanding our impact internationally.”, says Son Ly, CEO and co-founder of Didask.

“We are thrilled to partner with Didask, a pioneering company in the evolution of online learning. Their platform combining instructional AI and cognitive science. is revolutionizing training and skill development. This investment reflects our commitment to backing AI-powered vertical applications. We applaud the work of Son and his team and look forward to supporting them in their next steps,” says François Robinet, Managing Partner at AVP.

“What convinced us about Didask is a strong conviction carried by a committed founding team: training is not just a channel for transmission, it is above all, a driver of transformation. A powerful lever not only for greater efficiency, but also for greater equity and impact on learners. Their approach, rooted in the principles of equal opportunity and powered by distinctive educational technology, fully aligns with our values at the crossroads of impact, tech, and the future of work.”, explains Mehdi Belkahla, Investment Director at Citizen Capital.

“After three years alongside Didask as a seed investor, this transaction validates our initial conviction, inspired by a remarkable scientific team. Didask is exactly the kind of company that can lead the new AI supercycle by applying this new technology vertically in a unique field of expertise.”, says Thomas Le Forestier, co-founder of Takara Capital.

About Didask

Founded in 2017, Didask is a SaaS e-learning solution that deeply transforms online training by combining cognitive science and artificial intelligence. Its platform enables organizations to create effective training programs adapted to how the brain works, for genuine skill development. Adopted by over 200 companies (ENGIE, DEKRA, KEDGE Business School, MAGORA, BestDrive, Suez, DGAFP, Pellenc, Pierre et Vacances, French National Order of Chartered Accountants, etc.), Didask aims to become a major player in digital learning in Europe. Learn more at www.didask.com.

Categories: News

Tags:

Rentsync Raises Significant Growth Investment Led by Silversmith Capital Partners

Rentsync, a leading software and data company serving Canada’s rental housing industry, today announced it has raised a significant growth investment led by Silversmith Capital Partners. The partnership with Silversmith will enable the company to further invest in technology, expand its team, and pursue strategic acquisitions as it builds a comprehensive platform of data, software, and analytics to address the challenges of Canada’s rental housing ecosystem.

With a consistent track record of strong growth and profitability, Rentsync serves thousands of customers across Canada, including REITs, property management companies, and property developers. The company offers a range of innovative products and services designed to empower owners and landlords to streamline workflows, engage tenants, and maximize property potential.

“We are thrilled to partner with the team at Silversmith, who bring not only deep sector and operational expertise but also a successful history of backing Canadian growth companies,” said Max Steinman, CEO of Rentsync. “Silversmith’s commitment to building category-leading businesses aligns perfectly with our long-term vision to simplify and optimize the rental housing experience for owners, managers, marketers, and renters alike.”

Silversmith has a long and successful history of investing in, and partnering with, Canadian software companies and entrepreneurs, having led growth investments or supported acquisitions in every major region of the country—including Calgary, Montreal, Toronto, and Vancouver. Notable investments in which Silversmith served as the first institutional investor include Absorb Software and Apryse (fka PDFTron Systems).

“As a firm, we are focused on partnering with growing, profitable businesses led by domain experts, and Rentsync embodies these attributes,” said Jim Quagliaroli, Managing Partner at Silversmith. “We’re excited to support Max and his talented team as their first institutional investor as they continue to grow both organically and through strategic acquisitions.”

“The combination of software and data via its numerous listing sites, sticky workflow software, and data and analytics offerings make Rentsync’s value proposition clear. The best is yet to come for Rentsync and its valued customers,” remarked Matthew Nash, Vice President at Silversmith.

In connection with the investment, Silversmith Senior Advisors Mike Owens, Co-Founder & former CEO of Absorb Software, and Mike Volpe, former CEO of Lola.com (acquired by Capital One) and former CMO of HubSpot (NYSE: HUBS), have joined Rentsync’s Board of Directors alongside Quagliaroli and Nash. The Board also includes CEO Max Steinman and Dan Jauernig, former CEO of Apartments.com and Cars.com (NYSE: CARS).

Stikeman Elliott and Kirkland & Ellis served as legal counsel to Silversmith Capital Partners. Software Equity Group (SEG) and Borden Ladner Gervais (BLG) served as advisors to Rentsync.

About Rentsync

Based in Toronto, Rentsync is a leading software and data company, specializing in serving the Canadian rental housing industry. Rentsync offers a range of innovative products and services designed to streamline rental property marketing, leasing, and property management. It also owns and operates the Rentals.ca Network, the leading online marketplace for rental housing in Canada. Its commitment to professionalism, innovation, and accessibility has made it a trusted leading partner for rental housing marketers, leasing agents, and renters.

About Silversmith Capital Partners

Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $3.3 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Apryse, DistroKid, impact.com, Iodine Software, LifeStance Health, Onbe, and Webflow. For more information, including a full list of portfolio investments, visit www.silversmith.com or follow the firm on LinkedIn.

Categories: News

Tags:

Novacap Portfolio Company Revau Scales Operations Through U.S. Expansion with Brazos and Twenty Mile

No Comments
Novacap

Novacap is pleased to announce that its portfolio company, Revau, has successfully partnered with Brazos Specialty Risk Insurance and Twenty Mile Insurance Services, two independent Texas-based managing general agents (MGAs). The transaction significantly expands Revau’s presence and operational capabilities in the United States, firmly positioning the combined company as a pre-eminent player in the specialty-insurance market across North America.

Brazos, a distinguished provider of specialty trucking insurance, and Twenty Mile, a specialist in construction-focused liability solutions, bring extensive market reach and deep industry expertise to Revau’s growing platform. In return, Revau contributes advanced data-analytics capabilities, a robust capital base, and an industry leading digital infrastructure—giving the combined group the capacity to deliver tailored products and services to brokers, carriers, and insureds across the continent.

By pairing Brazos and Twenty Mile’s data-rich underwriting infrastructure with Revau’s advanced analytics platform, the combined group will command an end-to-end data capability—from acquisition and management to predictive modelling—that will:

  • Uncover deeper insights: identify hidden patterns in risk, customer, and market data.
  • Enable faster decisions: arm underwriters and leaders with real-time, data-driven intelligence.
  • Fuel innovation: surface opportunities for new products, services, and business models.
  • Boost efficiency: optimize processes, reduce cost, and improve productivity across the enterprise.

This transformational combination propels Revau from a domestic specialist to a North American platform, expanding its addressable market, adding two high-performing underwriting teams, and unlocking powerful data and distribution synergies. By uniting complementary cultures and capabilities, the group is poised to accelerate product innovation, deliver superior outcomes for carriers and brokers, and create new career opportunities for its growing roster of insurance professionals.

“This is an incredible milestone for Revau, marking our evolution from a small regional MGA with ambitious goals to an industry leader expanding beyond Canada,” stated Jean-François Raymond, President and CEO of Revau. “We have always believed our growth strategy extends globally, and today’s achievement demonstrates our commitment to teaming up with the right partners. We are thrilled to collaborate with such an experienced and talented group, building a strong partnership model that delivers value for all stakeholders and sets the stage for future success.”

Marcel Larochelle, Managing Partner at Novacap, shared: “We are proud of what Revau has accomplished since the start of our partnership in 2020 and thrilled to support Jeff and the Revau team in this transaction. Revau is a shining example of Novacap’s objective of building scalable, tech-enabled platforms in financial services. We look forward to supporting Revau’s new chapter of growth and innovation.”

Revau is pleased to confirm that Tom Spitalny, President of Brazos, and Christopher Polk, President of Twenty Mile and CEO of both entities, together with their teams, will remain integral to the combined company. Working shoulder to shoulder with Revau’s leadership, they have already launched integration workstreams spanning underwriting, claims, technology, and culture ensuring a seamless continuation of the outstanding service and deep market knowledge for which Brazos and Twenty Mile are known. As part of the cash-and-equity structure, the leadership teams of Brazos and Twenty Mile become meaningful shareholders in Revau, fully aligning long-term interests.

“This merger represents a significant step forward in our commitment to helping our businesses harness the full potential of their data,” said Chris Polk and Tom Spitalny. “By joining forces with Revau, we are creating a unique entity with the scale and expertise to tackle even the most complex data challenges and deliver the best possible results for our trading partners.”

The alignment leverages the complementary strengths and distinctive market positions of the three companies, significantly augmenting Revau’s operational depth and expanding its capacity to deliver specialized solutions across diverse insurance sectors. The integration is expected to drive innovation and provide an enhanced value proposition for brokers and policyholders alike.

This marks Revau’s 8th strategic transaction—and its largest and most transformational since partnering with Novacap in 2020. These initiatives reinforce Revau’s commitment to expanding specialized-insurance capabilities and cementing its leadership position in the North American market. Today’s announcement is a defining milestone in the firm’s strategy to build a continental leader in specialty insurance.

Fasken Martineau DuMoulin LLP and Willkie Farr & Gallagher LLP acted as lead external legal counsels to Revau. Howden Capital Markets & Advisory acted as exclusive financial advisor to Brazos and Twenty Mile, and Covington Burling LLP served as legal counsel to Brazos and Twenty Mile.

About Revau
Revau Advanced Underwriting Inc. is a leading Canadian Managing General Agent (MGA) specializing in property and casualty insurance. With a strong presence across Canada, Revau delivers tailored insurance solutions for specialized risks through its national network of brokers. Headquartered in Quebec, with offices and teams located in Quebec, Ontario, the Maritimes, Manitoba, Alberta and British Columbia, Revau combines deep industry expertise with a cutting-edge digital platform to simplify the commercial insurance process and deliver exceptional value to brokers and their clients. For more information, please visit www.revau.com.

About Brazos Specialty Risk Insurance
Brazos Specialty Risk, Inc. is a provider of tailored commercial insurance solutions across the United States. With deep expertise in sectors such as transportation, construction, and energy, Brazos partners with independent agents and brokers to deliver comprehensive coverage through a wide network of respected insurance carriers. Their client base includes insurance professionals seeking access to both admitted and non-admitted markets for complex risks. Brazos is committed to helping clients protect their businesses while supporting growth and retention through responsive, knowledgeable, and relationship-focused service. For more information, please visit www.bsrinsurance.com.

About Twenty Mile Insurance Services, Inc.
Twenty Mile Insurance Services is a trusted program manager specializing in primary commercial general liability insurance across the United States. With a focus on commercial and residential contractors, Twenty Mile partners with a select network of surplus lines brokers to deliver tailored insurance solutions. Their commitment to thorough risk assessment and price adequacy ensures clients receive coverage that aligns with their operational needs. By offering flexible underwriting, access to A-rated carriers, and broad coverage forms, Twenty Mile supports the growth and stability of businesses within the construction industry through attentive and efficient service. For more information, please visit www.twentymileins.com.

About Novacap
Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market companies in four core sectors: Technologies, Industries, Financial Services, and Digital Infrastructure. Novacap combines deep sector-specific expertise with strategic and operational excellence to support entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over C$11 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap continues to drive innovation and growth. For more information, please visit: https://novacap.ca.

Categories: News

Audax Private Equity and Lovell Minnick Partners Make Strategic Investment in Fortis

Audax Group

LMP, an existing investor in Fortis, is committing new equity into the joint investment to strengthen the company’s market position and technological capabilities.

PLANO, TEXAS; BOSTON, MA; NEW YORK, NY – March 12, 2025 – Audax Private Equity (“Audax”) and Lovell Minnick Partners (“LMP”) today announced a joint investment in Fortis, a payments technology leader for software providers, ERP customers, and scaling businesses. The investment, which closed on March 11, 2025, will enable Fortis to continue seeking to drive innovation and operational excellence, enhance its product and service offerings, accelerate its M&A growth strategy, and scale infrastructure to meet the evolving needs of businesses. Terms of the investment were not disclosed.

Founded in 2010 and based in Plano, Texas, Fortis has distinguished itself in embedded payments, delivering payment-enablement solutions to software partners, developers, and their businesses. Through its proprietary and integrated platform, Fortis bolsters the software capabilities of its clients via secure, end-to-end payment solutions with the aim of facilitating a reliable and seamless omnichannel-payment experience for businesses, processing billions of dollars in payments annually. LMP made its initial investment in Fortis in December 2019, and since then, the company has expanded its reach across the B2B enterprise and software ecosystem, providing tailored payment solutions that can drive efficiency and improved customer and business experiences.

“When we first invested in Fortis in 2019, we were drawn to the founders’ vision and the strength and capabilities of the company’s technology,” said Trevor Rich, Partner at LMP. “We’re pleased to offer both financial and operational support to advance the company’s mission of offering an unparalleled, holistic commerce experience to its customers.”

“The management team, led by CEO Greg Cohen and Co-Founder Jimmy Nafso, have positioned Fortis as a leader in the embedded payments industry,” said Spencer Hurst, Principal at LMP. “We’re looking forward to continuing to support the company as they build on this momentum and partnering with the Audax team to shape the future of embedded commerce.”

“Fortis’ ability to simplify very complex, multi-channel payment environments through a single integration point represents an integral link in the payments value chain,” noted Tim Mack, Partner at Audax Private Equity. “In our opinion, the Fortis API unlocks omnichannel strategies for businesses and unifies all transaction data to create a single ‘source of truth’ – a powerful value proposition that differentiates Fortis’ software partners, merchants who leverage the technology, and the company itself.”

Since LMP’s investment in 2019, Fortis has completed over 10 acquisitions that collectively have enhanced the company’s integration capabilities and its vertical specialization. Greg Cohen, who was appointed as executive chairman parallel to LMP’s initial investment, has served as CEO since July 2021.

“We’re excited to invest alongside LMP and support an exceptional management team that has built a scaled and differentiated player in the integrated-payments processing space,” added William Allen, a Managing Director at Audax. “Given the company’s track record driving organic and inorganic growth, we believe Fortis represents a compelling fit for our Buy & Build approach.”

“The payments market is undergoing a fundamental transformation, with software platforms needing sophisticated payment capabilities that go far beyond basic processing,” said Greg Cohen, CEO of Fortis. “Our philosophy around a sound business model, management team, and capital structure is critical as our organization and the market continues to mature. LMP has been a tremendous partner over the past five years who intimately understands the financial services and payments landscape. The addition of Audax adds financial strength, market expertise, and deep operational resources to accelerate our product roadmap, pursue strategic acquisitions, and expand our global footprint.”

William Blair served as Fortis’ sell-side advisor, while Morgan Lewis served as legal counsel. Raymond James served as the buy-side advisor to Audax Private Equity, while Kirkland & Ellis provided legal counsel to both Audax Private Equity and LMP.

About

ABOUT FORTIS
Fortis is a leader in embedded payments for software providers, processing billions of dollars annually by delivering comprehensive payment solutions and commerce enablement to software partners and developers. The company’s mission is to forge a holistic commerce experience, guiding businesses to reach uncharted growth and scale. As the solution of choice for the future of payments, Fortis moves commerce closer to invisible with a proprietary platform that supports and strengthens the commerce and payments capabilities of software partners. For more information, visit fortispay.com.

ABOUT AUDAX PRIVATE EQUITY
Headquartered in Boston, with offices in San Francisco, New York, and London, Audax Private Equity manages three strategies: its Flagship and Origins private equity strategies, seeking control buyouts in the core middle and lower middle markets, respectively, and its Strategic Capital strategy that provides customized equity solutions to PE-backed portfolio companies to help drive continued growth. With approximately $19 billion of assets under management as of June 2024, over 280 employees, and 100-plus investment professionals, Audax has invested in more than 170 platforms and 1,350 add-on acquisitions since its founding in 1999. Through our disciplined Buy & Build approach, across six core industry verticals, Audax seeks to help portfolio companies execute organic and inorganic growth initiatives with the aim of fueling revenue expansion, optimizing operations, and significantly increasing equity value. For more information, visit www.audaxprivateequity.com or follow us on LinkedIn.

ABOUT LOVELL MINNICK PARTNERS
Lovell Minnick Partners is a private equity firm with a 25-year track record of partnering with growth-oriented companies. LMP leverages deep sector experience and a broad network of strategic advisors to help founders scale their companies at an accelerated pace. The firm collaborates with management teams seeking to achieve long-term success and value creation through organic growth and strategic acquisitions. Since inception in 1999, LMP has raised over $5 billion of committed capital, invested in more than 50 unique platform companies and completed over 200 add-on acquisitions. LMP targets growth-oriented, middle-market companies with a particular focus on companies in the financial services, business services and financial technology sectors. For more information, please visit www.lmpartners.com.

“Fortis’ ability to simplify very complex, multi-channel payment environments through a single integration point represents an integral link in the payments value chain. In our opinion, the Fortis API unlocks omnichannel strategies for businesses and unifies all transaction data to create a single ‘source of truth’ – a powerful value proposition that differentiates Fortis’ software partners, merchants who leverage the technology, and the company itself.”
Tim Mack
Partner at Audax Private Equity.

Categories: News

Tags:

Olio Raises $11M Series B Funding to Expand Product Innovation and Market Reach

Fulcrum

Investment led by Fulcrum Equity Partners to accelerate Olio’s mission of transforming care coordination.

Published on

May 12, 2025

Olio, the leading software platform streamlining care coordination, announced today the closing of an $11 million Series B funding round. The round was led by Fulcrum Equity Partners with participation from Mutual Capital Partners (MCP), a growth equity firm specializing in scaling innovative healthcare and B2B software companies.

Philip Lewis, Partner at Fulcrum Equity Partners, states, “Olio is transforming a manual, error-prone, and unscalable discharge process. With real-time patient status across the care continuum, providers can truly drive performance.” Bill Trainor, Partner at Mutual Capital Partners, adds, “With rising demand for operational efficiencies and data-driven cost savings, we’re excited to continue partnering with Olio to improve patient outcomes and reduce readmissions and costs.”

Olio empowers payers, health systems, and physician groups to efficiently manage patient transitions across care settings: Skilled Nursing, Home Health, Behavioral Health, Long-Term Care, and more. Olio delivers improved outcomes and operational efficiencies, enabling organizations to engage their entire footprint at scale, addressing a critical need in the care continuum.

With new capital, Olio plans to expand its product offerings and accelerate go-to-market initiatives, deepening its impact on healthcare organizations nationwide.

“Olio is solving one of healthcare’s most critical challenges — connecting care across the continuum in a scalable, impactful way,” said Jill Sharp, Sr. VP of Care Delivery, Emcara Health, and Olio board member. “I’m thrilled to support a company that is not just innovating, but truly transforming how providers partner with each other for better patient care.”

“At Olio, our mission is to transform the way healthcare organizations coordinate care,” said Ben Forrest, CEO of Olio. “The continued investment from Fulcrum Equity Partners, combined with the support from Mutual Capital Partners, positions us to scale our impact and drive meaningful change across the industry.”

Olio’s growth reflects a broader shift in healthcare toward operational excellence, where seamless transitions and stakeholder alignment are paramount. With proven success stories and new strategic partnerships, Olio is poised to lead this next chapter of healthcare innovation.

‍

‍

About Olio
Olio makes complex care more organized, coordinated, and effective, improving patient outcomes by requiring mutual participation in processes that work. When providers work together seamlessly and effectively, people and populations get better.

About Fulcrum Equity Partners
Fulcrum Equity Partners is an Atlanta-based growth equity firm that gives entrepreneurs the capital and hands-on support they need to take their companies further, faster. Fulcrum invests in healthcare services and B2B tech executives searching for $5 million to $35 million of equity in minority and majority growth opportunities. Fulcrum’s partners believe in building businesses the right way, meeting teams where they are, and helping them imagine a bigger and brighter future by building the right systems, processes, teams, and culture. All of that starts with the right experience, the right support, and the right relationship. Learn more at http://www.fulcrumep.com.

About Mutual Capital Partners
‍Mutual Capital Partners is a Cleveland-based venture capital fund that helps innovative healthcare startups reach their full potential. Our investment is more than just financial; we become partners and lend full support to our portfolio companies’ efforts. Learn more at https://www.mutualcapitalpartners.com/.

Categories: News

Tags:

Qlik Announces Close of Significant Investment Led by ADIA and Thoma Bravo

Thomabravo

With strong market adoption and platform innovation, Qlik continues advancing enterprise AI with discipline and scale

Philadelphia and San Francisco—Qlik®, a global leader in data integration, data quality, analytics, and AI, today announced the close of a previously disclosed significant minority investment led by a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). As part of the transaction, Thoma Bravo, a leading software investment firm, remains Qlik’s majority owner and has made a new equity investment alongside ADIA. A select group of institutional investors have also co-invested. The transaction, originally signed in November 2024, has now received all necessary regulatory approvals.

Qlik helps organizations move from AI ambition to execution by turning raw data into trusted insights and proactive decisions. Through a unified platform that integrates data, analytics, and governance, Qlik provides the foundation enterprises need to scale AI initiatives with confidence. Across industries, customers rely on Qlik to stay agile in the face of market shifts, global disruptions, and unexpected challenges.

“Support from Thoma Bravo and a long-term investor like ADIA reinforces the strength of our strategy and the results we’re delivering,” said Mike Capone, CEO of Qlik. “In a market full of AI ambition, Qlik stands out for execution—helping enterprises move fast, act with trust, and turn data into confident decisions. This investment enables us to stay focused and scale that impact.”

“Qlik has consistently executed against one of the most important challenges facing modern enterprises: turning data and AI into real business outcomes,” said Seth Boro, a Managing Partner at Thoma Bravo. “Our continued majority ownership and additional investment reflect our conviction in Qlik’s platform, its performance, and its ability to scale meaningful impact for customers worldwide.”

“Enterprises around the world are moving from experimentation to execution with AI, and that shift is accelerating demand for trusted, scalable solutions,” said Mike Hoffmann, a Partner at Thoma Bravo. “Qlik is uniquely positioned to meet this moment—at the intersection of data integration, governance, and analytics—making it a clear fit with our long-term thesis around mission-critical enterprise software. We’re proud of the significant growth Qlik has achieved since we took the company private in 2016 and are excited to continue this momentum with Mike and ADIA.”

Building on its recent acquisition of Upsolver and its advancements in agentic AI solutions and conversational analytics, Qlik continues to expand its unified platform for trusted, scalable AI. As enterprises invest in AI while seeking to lower costs and maintain trust across the AI value chain, Qlik is increasingly the partner of choice—enabling faster execution with open architectures, governed data, and real-time insights. Guggenheim Securities LLC served as financial advisor and Kirkland & Ellis LLP acted as legal advisor to Thoma Bravo and Qlik. Evercore served as financial advisor and Gibson, Dunn & Crutcher LLP served as legal advisor to ADIA.

About Thoma Bravo

Thoma Bravo is one of the largest software-focused investors in the world, with over US$179 billion in assets under management as of December 31, 2024. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo’s deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in approximately 520 companies representing approximately US$275 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo’s website at thomabravo.com.

About Abu Dhabi Investment Authority

Established in 1976, the Abu Dhabi Investment Authority (“ADIA”) is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation.

About Qlik

Qlik converts complex data landscapes into actionable insights, driving strategic business outcomes. Serving over 40,000 global customers, our portfolio provides advanced, enterprise-grade AI/ML, data integration, and analytics. Our AI/ML tools, both practical and scalable, lead to better decisions, faster. We excel in data integration and governance, offering comprehensive solutions that work with diverse data sources. Intuitive analytics from Qlik uncover hidden patterns, empowering teams to address complex challenges and seize new opportunities. As strategic partners, our platform-agnostic technology and expertise make our customers more competitive.

© 2025 QlikTech International AB. All rights reserved. All company and/or product names may be trade names, trademarks and/or registered trademarks of the respective owners with which they are associated.

Read the release on Business Wire here.

Categories: News

Tags: