Category Archives: News

Skechers Agrees to Be Acquired by 3G Capital

3G Capital
  • Skechers will continue to be led by Chairman and Chief Executive Officer Robert Greenberg, President Michael Greenberg, and Chief Operating Officer David Weinberg
  • The Company will remain focused on its successful strategy of delivering style, comfort, quality, and innovation at an affordable price
  • Skechers and 3G Capital have a shared vision for the long-term future growth of the business
  • 3G Capital to pay $63.00 per share in cash for Skechers, representing a premium of 30% to the Company’s 15-day volume-weighted average stock price
  • 3G Capital to offer all existing Skechers stockholders an alternative mixed consideration option
  • Skechers to become a privately held company upon completion of the transaction

LOS ANGELES & NEW YORK–(BUSINESS WIRE)– Skechers U.S.A., Inc. (“Skechers” or the “Company”) (NYSE: SKX), a Fortune 500 company and the third largest footwear company in the world, today announced that it has agreed to be acquired by 3G Capital, a global investment firm built on an owner-operator approach to long-term investing.

One of the largest founder-led consumer product companies in the world with $9 billion in annual sales, Skechers’ significant growth over the past 30 years has been driven by a relentless focus on delivering style, comfort, quality, and innovation at an affordable price. Known as the Comfort Technology Company®, Skechers is a growth-oriented, product-driven brand with a diverse distribution network, and highly loyal customers and consumers.

“Over the last three decades, Skechers has experienced tremendous growth,” began Robert Greenberg, Chairman and Chief Executive Officer of Skechers. “Our success has been due to our commitment to excellence and innovation across the entire Skechers organization, in-demand comfort-focused product offering, and loyal partners. With a proven track-record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital. Given their remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the Company’s long-term growth.”

“We are thrilled to be partnering with Skechers and look forward to working with an entrepreneur of Robert’s caliber and the talented Skechers team. Skechers is an iconic, founder-led brand with a track record of creativity and innovation. We have immense admiration for the business that this team has built, and look forward to supporting the Company’s next chapter. Our team at 3G Capital is built to partner with companies like Skechers,” said Alex Behring, Co-Founder and Co-Managing Partner, and Daniel Schwartz, Co-Managing Partner, of 3G Capital.

Following the completion of the transaction, Skechers will continue to execute its ongoing strategic initiatives including designing award-winning and innovative product, international development, direct-to-consumer expansion, domestic wholesale growth, and strategic investments in global distribution, infrastructure and technology.

This transaction, which was unanimously approved by the Skechers board of directors (the “Skechers Board”) including an independent committee of independent directors, is a transformational long-term partnership opportunity for Skechers to further evolve as a global leader in both lifestyle and performance footwear. The Company’s senior management team will lead that transition alongside 3G Capital, one of the foremost growth-focused investors in the world. Further, the Company will continue to be led by Chairman and Chief Executive Officer Robert Greenberg, President Michael Greenberg, and the rest of the current management team. It will remain headquartered in its hometown of Manhattan Beach, California where it was founded over 30 years ago. 3G Capital brings decades of successful stewardship alongside market‑leading companies worldwide.

Under the terms of the definitive merger agreement (the “Merger Agreement”), 3G Capital has agreed to pay $63.00 per share in cash for all outstanding shares of Skechers, representing a premium of 30% to Skechers’ 15-day volume-weighted average stock price. The transaction includes the option for existing shareholders of Skechers to instead receive $57.00 in cash and one unlisted, non-transferable equity unit (the “LLC Unit”) in a newly-formed, privately held company that, following the closing of the transaction, will be the parent company of Skechers (the “New LLC”). The ability to make this election is subject to the restrictions described in “Election Mechanics” below.

Transaction Details

Under the terms of the Merger Agreement, subject to the conditions set forth therein and election mechanics described below, Skechers shareholders can elect to receive:

  • $63.00 per share in cash (the “Cash Election Consideration”); or
  • $57.00 per share in cash and one LLC Unit (such consideration, subject to the proration as described below, the “Mixed Election Consideration”).

Both the Cash Consideration and Mixed Election Consideration are available to each share of Skechers stock on the same terms, regardless of whether it is Class A or Class B shares of Skechers stock.

Election Mechanics

  • No shares that are sold, transferred, assigned, or otherwise disposed of (including by derivative or hedging arrangement) between the close of trading on May 2, 2025, and the closing of the transaction will be eligible to receive the Mixed Election Consideration.
  • The amount of Mixed Election Consideration available is limited. A maximum of 20% of the outstanding shares of Skechers common stock will be eligible to receive the Mixed Election Consideration. If holders of shares representing more than the 20% of the outstanding Skechers stock elect to receive the Mixed Election Consideration, these elections will be subject to proration.
  • Shares for which an election has not been made will be converted into the Cash Election Consideration.

Important Information about the LLC Units

  • Holders of LLC Units may not transfer their LLC Units except with 3G Capital’s consent, subject to very limited exceptions set forth in the LLC agreement.
  • Transfers of LLC Units in violation of the LLC agreement will be deemed void and will be subject to forfeiture.
  • The LLC Units will neither be listed on a stock exchange (unless the LLC makes an initial public offering in the future, which it is not obligated to do and may never do) nor will the LLC Units be otherwise tradable.
  • Holders of LLC Units will be subject to non-disparagement and confidentiality obligations and will not have any information rights.
  • 3G Capital is expected to hold approximately 80% of New LLC’s outstanding units immediately following the closing of the transaction, subject to the number of Skechers shares that convert into the Mixed Election Consideration and finalization of the closing capital structure.
  • The New LLC will terminate its periodic reporting obligations under the Securities Exchange Act of 1934 as soon as practicable after the closing of the transaction.
  • Further information about the LLC Units and the New LLC including the New LLC’s capital structure and pro forma financial information will be provided in the Form S-4 and related information statement when filed. We encourage you to review such information when available before making any decision with respect to your shares. Additional information on the terms of the LLC units will be included in the Current Report on Form 8-K to be filed by Skechers.

In connection with entering into the Merger Agreement, on May 4, 2025, Skechers entered into a support agreement with Robert Greenberg and other members of the Greenberg Family (each, a “Supporting Stockholder”), pursuant to which each Supporting Stockholder has agreed to, among other things, elect to receive the Mixed Election Consideration in the transaction.

The Skechers Board formed an independent committee of independent directors to evaluate the transaction. The independent committee reviewed, negotiated, unanimously approved and recommended the transaction for approval by the Skechers Board. Following approval by the Skechers Board, the Merger Agreement was signed.

Skechers stockholders holding approximately 60% of the combined voting power of the outstanding shares of Skechers common stock have approved the transaction by written consent. As a result, no further actions by other Skechers stockholders will be required to approve the transaction. The transaction is subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals. The transaction is expected to close in the third quarter of 2025.

The transaction will be financed through a combination of cash provided by 3G Capital as well as debt financing that has been committed by JPMorgan Chase Bank, N.A.

Upon completion of the transaction, the Company’s common stock will no longer be listed on the New York Stock Exchange, and Skechers will become a private company.

Advisors

Greenhill, a Mizuho affiliate, acted as exclusive financial advisor and Latham & Watkins LLP acted as lead legal counsel to Skechers.

J.P. Morgan Securities LLC acted as exclusive financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as lead legal counsel to 3G Capital, with Kirkland & Ellis LLP serving as financing legal counsel.

About Skechers U.S.A., Inc.

Skechers, The Comfort Technology Company® based in Southern California, designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in approximately 180 countries and territories through department and specialty stores, and direct to consumers through skechers.com, and more than 5,300 Skechers retail stores. A Fortune 500® company, Skechers manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit about.skechers.com and follow us on Facebook, Instagram and TikTok.

About 3G Capital

3G Capital is a global investment firm and private partnership built on an owner-operator approach to investing over a long-term horizon. For decades, 3G partners have teamed with world-class management and founding families to acquire iconic businesses, unlocking durable growth and enduring value. Founded in 2004, 3G Capital is led by Alex Behring, Co-Founder and Co-Managing Partner, and Daniel Schwartz, Co-Managing Partner.

Special Note on Forward-Looking Statements

This communication includes certain disclosures which contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Exchange Act including but not limited to those statements related to the Transaction, such as financial estimates and statements as to the expected timing, benefits and effects of the Transaction, the likelihood of completion of the Transaction, and information regarding the businesses of the Company and Parent, including Parent’s and the Company’s objectives, plans and strategies for future operations. In most cases, you can identify these statements by forward-looking words such as “anticipate,” “believe,” “confidence,” “could,” “estimate,” “expect,” “guidance,” “intend,” “indicate,” “may,” “plan,” “potential,” “project,” “outlook,” “should,” “will” and “would,” or similar words or expressions that refer to future events or outcomes. These forward-looking statements, including statements regarding the Transaction, are based largely on information currently available to management of the Company and/or Parent and their current expectations and assumptions, and are subject to various risks and uncertainties that could cause actual results to differ materially from historical results or those expressed or implied by such forward-looking statements. Although the Company and Parent believe their expectations are based on reasonable estimates and assumptions, such expectations are not guarantees of performance. There is no assurance that the Company’s and Parent’s expectations will occur or that their estimates or assumptions will be correct, and we caution investors and all others not to place undue reliance on such forward-looking statements.

Important factors, risks and uncertainties that could cause actual results to differ materially from such plans, estimates or expectations include but are not limited to: (i) the completion of the Transaction on the anticipated terms and timing or at all, including obtaining regulatory clearances, and the satisfaction of other conditions to the completion of the Transaction; (ii) potential litigation relating to the Transaction, including the effects of any outcomes related thereto; (iii) the risk that disruptions from the Transaction will harm the Company’s business, including current plans and operations during the pendency of the Transaction; (iv) the ability of the Company to retain and hire key personnel; (v) the diversion of Company and Parent management’s time and attention from ordinary course business operations to completion of the Transaction; (vi) potential business uncertainty and changes to existing business relationships, including changes to existing business relationships, during the pendency of the Transaction; (vii) the ability of Parent to cause an initial public offering or another liquidity event, or to realize the anticipated benefits of and implementing its strategy following the Transaction within the expected time period or at all, or the risk that the successful implementation of such a strategy will not result in improved operating results; (viii) the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (ix) the risk that there may be liabilities that are not known, probable or estimable at this time or unexpected costs, charges or expenses, including unexpected capital expenditures; (x) certain restrictions during the pendency of the Transaction that may impact the Company’s ability to pursue certain business opportunities or strategic transactions; (xi) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, outbreaks of war or hostilities or pandemics and other public health issues, as well as the response of management of the Company and/or Parent to any of these events; (xii) global economic, political, legislative, regulatory and market conditions (including competitive pressures), including the effects of tariffs, inflation and foreign currency exchange rate fluctuations around the world, the challenging consumer retail market in the United States and the impact of war and other conflicts around the world; (xiii) the ability to obtain the necessary financing arrangements set forth in the commitment letter received in connection with the Transaction; (xiv) the occurrence of any event, change or other circumstance that could give rise to the termination of the Transaction; (xv) the risk that the Company’s stock price may decline significantly upon this announcement and while the Transaction is pending; (xvi) Parent’s ability to maintain the Company’s brand name and image with customers; (xvii) Parent’s ability to respond to changing consumer preferences, identify and interpret consumer trends, and successfully market new products; (xviii) the potential impact of the announcement or consummation of the Transaction on the Company’s relationships with suppliers, customers, employers and regulators; (xix) those risks and uncertainties set forth under the headings “Special Note on Forward-Looking Statements” and “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports filed by the Company with the SEC from time to time, which are available via the SEC’s website at www.sec.gov; and (xx) those risks that will be described in the information statement that will be filed with the SEC in connection with the Transaction and available from the sources indicated below.

There can be no assurance that the Transaction will be completed, or if it is completed, that it will close within the anticipated time period. While the list of factors presented here is, and the list of factors to be presented in the registration statement on Form S-4 are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. The forward-looking statements relate only to events as of the date on which the statements are made. Neither Parent nor the Company undertakes to update or revise, and expressly disclaims any obligation to update or revise, any of their forward-looking statements, whether resulting from circumstances or events that arise after the date the statements are made, new information, or otherwise, except as required by law. If one or more of these or other risks or uncertainties materialize, or if Parent or the Company’s underlying assumptions prove to be incorrect, Parent’s or the Company’s actual results may vary materially from what the parties may have expressed or implied by these forward-looking statements. We caution that you should not place undue reliance on any of the parties’ forward-looking statements. You should specifically consider the factors identified in this communication that could cause actual results to differ. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect the Company or Parent.

No Offer or Solicitation

This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.

Important Additional Information and Where to Find It

In connection with the Transaction, Parent expects to file a registration statement on Form S-4 with the SEC containing the Company’s preliminary information statement and the Parent’s preliminary prospectus. After the registration statement is declared effective, the Company will mail to its stockholders a definitive information statement that will form part of the registration statement on Form S-4. This communication is not a substitute for the information statement/prospectus or registration statement or for any other document that the Company or Parent may file with the SEC and send to the Company’s stockholders in connection with the Transaction. STOCKHOLDERS ARE URGED TO READ THE INFORMATION STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION. Stockholders will be able to obtain free copies of the information statement/prospectus (when available) and other documents filed with the SEC by Parent and the Company through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by the Company will also be available free of charge on the Company’s website at https://investors.skechers.com/financial-data/all-sec-filings.

 

Steve Lipin / Felipe Ucrós
Gladstone Place Partners
(212) 230-5930

Jennifer Clay
Media Relations
Skechers
jennc@skechers.com

Sonia Reback / Eunice Han
Investor Relations
Skechers
investors@skechers.com

Source: Skechers U.S.A., Inc.

Released May 5, 2025 • 8:50 am EDT

Categories: News

Tags:

Gimv partners with Ambulantis to support the company’s growth ambitions

GIMV

  • Gimv invests in the German Ambulantis Group, a fast-growing care provider with a focus on outpatient care in assisted living facilities and day care.

  • The company currently employs more than 500 people and operates in 6 cities in northern and eastern Germany, in some cases with multiple locations.

  • This transaction is part of a growth plan with the company’s founders and managing directors, Dr. Stefan Buchkremer, Richard Simm and Dr. Matthias Weber, continuing to be key shareholders of the company.

Ambulantis (www.ambulantis.de) is committed to enabling people in need of care to lead a fulfilling life in their own home or shared apartment. To this end, the company offers nursing care including outpatient care, day care, care in assisted living facilities and residential care communities. Its approach enables customers to maintain a high degree of privacy and independence while benefiting from nursing care tailored to their individual needs. In addition, the Ambulantis concept promotes social interaction and participation in society through numerous joint activities.

Ambulantis fosters a value-oriented corporate culture based on appreciation, care and participation. The intensive and diverse engagement of the company’s employees leads to a high level of employee satisfaction across all locations.

“We are convinced that Gimv’s experience in building and scaling healthcare providers makes it the ideal partner to help us realize the company’s growth ambitions and expand Ambulantis’ presence in Germany,” declare Dr. Stefan Buchkremer, Richard Simm and Dr. Matthias Weber, Managing Partners of Ambulantis.

“Ambulantis has a focused and proven concept that serves the preferences of clients and relatives as well as caregivers. Thanks to Ambulantis’ clear commitment to quality, its skilled and motivated staff and its highly structured and scalable processes, we are convinced that Ambulantis is the right platform to build a leading provider of comprehensive care services in assisted living facilities in Germany. We are excited to supporting the management and the entire Ambulantis team in realizing their ambitious growth plans, ” explain Philipp v. Hammerstein and Lars Timmer, Partner and Senior Principal specializing in healthcare in the Munich office of Gimv.

Gimv will hold a significant stake in Ambulantis and will support Dr. Stefan Buchkremer, Richard Simm and Dr. Matthias Weber in the further development of the group. The transaction is still subject to the usual regulatory approval and is expected to be completed in the coming weeks.

Categories: News

Tags:

Rubicon Technology Partners Completes Successful Sale of Vision Government Solutions

Rubicon

Boulder, Colo. – May 5, 2025 – Rubicon Technology Partners (“Rubicon”), a private equity firm specializing in enterprise software investments, announced the successful sale of Vision Government Solutions, Inc. (“Vision”), a provider of property tax software and appraisal services, to Great Hill Partners.

Headquartered in Hudson, Massachusetts, Vision Government Solutions offers software solutions and appraisal services designed to assist local governments in managing property valuation and taxation efficiently and accurately. Under Rubicon’s ownership, Vision enhanced its market position by implementing strategic growth initiatives, expanding product capabilities, and extending geographic reach through targeted acquisitions and organic growth.

“We are proud of the transformation Vision has undergone during our partnership,” said Alex Kleiner, Partner at Rubicon Technology Partners. “The Vision team successfully executed on an ambitious strategic plan, strengthening its technology offering and customer relationships. We look forward to following Vision’s next chapter of growth.”

Paul Smith, CEO of Vision Government Solutions, added, “Our partnership with Rubicon enabled Vision to accelerate our strategic initiatives, expand into new markets, and deliver exceptional value to our customers. Their operational experience and industry expertise has been instrumental in our ability to strategically scale the business and we’re grateful to the entire Rubicon team.”

Shea & Company served as exclusive financial advisor to Rubicon and Vision, and Cooley LLP served as legal counsel to Rubicon.

Certain statements quoted in the above article were made by an executive of a Rubicon portfolio company. Such executive has not received compensation for the above statement and this statement is solely his or her opinion and representative of his or her experience with Rubicon. Other portfolio company executives may not necessarily share the same views. A Rubicon portfolio company executive may have an incentive to make a statement that portrays Rubicon in a positive light as a result of the executive’s ongoing relationship with Rubicon and any influence Rubicon may have over the governance of the portfolio company and the compensation of its executives. It should not be assumed that Rubicon’s investment in such portfolio company has been or will ultimately be profitable.

Vision Government Solutions logo

Vision Government Solutions provides property tax administration, appraisal and collections software to over 430 municipalities and counties throughout the United States. The company’s mission-critical software is used by the tax assessor’s office to manage detailed property-level data, perform property assessments and advanced valuations and collect property taxes, which typically account for approximately 40% of a municipality’s annual revenue. Vision’s innovative software products are leading the industry towards the digital future of assessing.

Learn About Vision Government Solutions

Categories: News

Tags:

Carlyle and SK Capital Receive All Required Regulatory Approvals to Complete the Acquisition of bluebird bio

Carlyle

bluebird Board of Directors unanimously supports the transaction as the only viable option for stockholders to receive consideration for their shares and recommends that all stockholders immediately tender their shares into the offer

Parties expect the merger to be completed promptly following the successful completion of the ongoing tender offer

 

SOMERVILLE, Mass.–(BUSINESSWIRE)–May 5, 2025–bluebird bio, Inc. (NASDAQ: BLUE) (“bluebird” or “the Company”),  Carlyle (NASDAQ: CG) (“Carlyle”), SK Capital Partners, LP (“SK Capital”) and Beacon Parent Holdings, L.P. (“Parent”) announced today that all required regulatory approvals to complete the previously announced acquisition of the Company by Carlyle and SK Capital have been received.

 

No further regulatory approvals are required to complete the transaction. The parties expect to complete the merger promptly following the successful completion of the ongoing tender offer, which is scheduled to expire one minute after 11:59 p.m. New York City time on May 12, 2025, unless the tender offer is further extended or earlier terminated.

 

Under the terms of the merger agreement, stockholders will receive an upfront payment of $3.00 per share in cash and a contingent value right (CVR) of $6.84 per share in cash payable upon achievement of a net sales milestone, for a total potential value of $9.84 per share. The bluebird board of directors (the “Board”) unanimously recommends that stockholders tender into the offer.

 

“The bluebird Board unanimously recommends that stockholders tender into the offer, which expires May 12, 2025. Absent a majority of stockholders tendering, bluebird is at significant risk of defaulting on its loan agreements with Hercules Capital and it is extremely unlikely that stockholders would receive any consideration for their shares in a bankruptcy or liquidation,” said Mark Vachon, chairman of the bluebird bio Board of Directors. “The bluebird Board considered all reasonable alternatives during its review of strategic alternatives and concluded that the proposed transaction with Carlyle and SK Capital is the only viable solution to generate value for bluebird stockholders. We strongly urge stockholders to tender their shares before the expiration date to ensure the best possible outcome for all bluebird stakeholders and the patients that depend on its treatments.”

 

“The receipt of all required regulatory approvals is excellent news for stockholders as well as for patients and families seeking to be treated with bluebird gene therapies,” said Andrew Obenshain, chief executive officer, bluebird bio. “With this update, we have a clear path forward to close the transaction and officially begin the next chapter of bluebird’s journey to deliver potentially curative gene therapies in the commercial setting.”

 

Stockholders who need assistance with tendering their shares of common stock of bluebird may contact the Information Agent, Innisfree M&A Incorporated, by calling toll-free at (877) 825-8793.

 

About bluebird bio

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 being made pursuant to a Tender Offer Statement on Schedule TO, including an offer to purchase, a letter of transmittal and other related materials, that were filed by Beacon Parent Holdings, L.P. (“Parent”) and Beacon Merger Sub, Inc. (“Merger Sub”) with the SEC on March 7, 2025. In addition, bluebird has filed a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer with the SEC on March 7, 2025. The tender offer materials and the Solicitation/Recommendation statement, as they may be amended from time to time, contain important information that should be read carefully when they become available and considered before any decision is made with respect to the tender offer. Investors will be able to 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, copies of these materials and other documents 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.

 

Forward-Looking Statements

The statements included in this press release that are not a description of historical facts are forward-looking statements. Words or phrases such as “believe,” “may,” “could,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “seek,” “plan,” “expect,” “should,” “would” or similar expressions are intended to identify forward-looking statements. The forward-looking statements are based on bluebird’s current beliefs and expectations and include, but are not limited to: statements regarding beliefs about the potential benefits of the transaction contemplated by the Agreement and Plan of Merger, dated as of February 21, 2025 (the “Merger Agreement”), by and among bluebird, Parent and Merger Sub; the planned completion and timing of the transaction contemplated by the Merger Agreement; statements regarding bluebird’s future results of operations and financial position; bluebird’s expectations with respect to the commercialization of its products, including without limitation, patient demand, the timing and amount of revenue recognition; and bluebird’s ability to establish favorable coverage for its therapies. Risks and uncertainties that could cause results to differ from expectations include: uncertainties as to the timing and completion of the offer and the merger; uncertainties as to the percentage of bluebird stockholders tendering their shares in the offer; the possibility that competing offers will be made; the possibility that various closing conditions for the offer or the merger may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable regulatory and/or governmental entities (or any conditions, limitations or restrictions placed on such approvals); risks relating to bluebird’s liquidity during the pendency of the offer and the merger or in the event of a termination of the Merger Agreement; risks that the milestone related to the contingent value right is not achieved; the effects of disruption caused by the transaction making it more difficult to maintain relationships with employees, collaborators, vendors and other business partners; risks related to diverting management’s attention from bluebird’s ongoing business operations; the risk that stockholder litigation in connection with the transactions contemplated by the Merger Agreement may result in significant costs of defense, indemnification and liability; delays and challenges in bluebird’s commercialization and manufacturing of its products, including challenges in manufacturing vector for ZYNTEGLO and SKYSONA to meet current demand; the internal and external costs required for bluebird’s ongoing and planned activities, and the resulting impact on expense and use of cash, has been, and may in the future be, higher than expected, which has caused bluebird, and may in the future cause bluebird, to use cash more quickly than it expects or change or curtail some of its plans or both; substantial doubt exists regarding bluebird’s ability to continue as a going concern; bluebird’s expectations as to expenses, cash usage and cash needs may prove not to be correct for other reasons such as changes in plans or actual events being different than bluebird’s assumptions; the risk that additional funding may not be available on acceptable terms, or at all; risks related to bluebird’s loan agreement, including the risk that operating restrictions could adversely affect bluebird’s ability to conduct its business, the risk that bluebird will not achieve milestones required to access future tranches under the agreement, and the risk that bluebird will fail to comply with covenants under the agreement, including with respect to required cash and revenue levels, which could result in an event of default; the risk that the efficacy and safety results from bluebird’s prior and ongoing clinical trials will not continue or be seen in the commercial context; the risk that the QTCs experience delays in their ability to enroll or treat patients; the risk that bluebird experiences delays in establishing operational readiness across its supply chain; the risk that there is not sufficient patient demand or payer reimbursement to support continued commercialization of bluebird’s therapies; the risk of insertional oncogenic or other safety events associated with lentiviral vector, drug product, or myeloablation, including the risk of hematologic malignancy; the risk that bluebird’s products, including LYFGENIA, will not be successfully commercialized; and other risks and uncertainties pertaining to bluebird’s business, including the risks and uncertainties detailed in bluebird’s prior filings with the SEC, including under the heading “Risk Factors” in bluebird’s Annual Report on Form 10-K for the year ended December 31, 2024, and any subsequent Quarterly Reports on Form 10-Q filed with the SEC.

 

You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update these statements to reflect events or circumstances after the date hereof, except as required by law.

 

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

Categories: News

Tags:

Main Capital Partners announces strategic partnership with Norwegian enterprise fintech platform Aritma

Main Capital Partners

The partnership will accelerate Aritma’s European expansion, boost innovation in financial automation, and enable strategic growth through acquisitions.

Stockholm, May 1, 2025 – Main Capital Partners (“Main”) is acquiring a majority stake in Aritma, a fast-growing Norwegian fintech offering cloud-based solutions for payments, reconciliation, and bookkeeping automation. This Main Foundation II investment further strengthens Main’s presence in the Nordic enterprise software landscape. Through the partnership, Main will support Aritma’s continued expansion of its product suite, international growth, and selective strategic acquisitions.

Founded in 1990 and headquartered in Bergen, Aritma is a key enabler for ERP vendors, accounting platforms, and financial institutions. Its modular, API-first platform connects ERP systems with the banking ecosystem, automating essential financial workflows such as payments, reconciliation, and data validation. Today, the company serves approximately 900 customers, including leading ERP providers, supported by a modern tech stack and scalable architecture suited for high-volume, regulated use cases.

Attractive market dynamics and international scalability
The primary motivations behind the strategic partnership with Aritma are its strong product-market fit, deep workflow integration, and high scalability. In an increasingly regulated and digitized financial environment, Aritma enables customers to automate critical financial operations while ensuring compliance with evolving standards. This backdrop, combined with structural drivers such as growing regulatory complexity, rising demand for real-time financial data, and the shift to cloud-based infrastructure, creates a favorable environment for Aritma’s modern platform and extensive bank integration network.

The company is ready to accelerate international expansion, building on its Nordic footprint and growing embedded partner model. Leveraging Main’s strategic expertise and track record in supporting cross-border growth, both organically and through acquisitions, Aritma aims to become a leading European platform for payment and reconciliation automation. The experienced management team will remain closely involved post-closing to help drive the next phase of growth alongside Main.

We are excited to partner with the Aritma team as they continue building one of the most compelling platforms in financial workflow automation.

– Wessel Ploegmakers, Partner at Main Capital Partners

Thor Kristian Seth, CEO of Aritma: “We are very proud to announce our partnership with Main Capital Partners, a collaboration that marks a key milestone in Aritma’s history. Main’s proven track record in building and scaling software companies fits perfectly with our ambitions. Together, we are committed to accelerating Aritma’s growth, expanding into new markets, and strengthening our position as a trusted enabler of financial automation in Europe”

Wessel Ploegmakers, Partner at Main Capital Partners: “We are excited to partner with the Aritma team as they continue building one of the most compelling platforms in financial workflow automation. Aritma’s strong market position, modern architecture, and mission-critical offering make it a great fit with our investment strategy. Together, we look forward to accelerating their international growth and supporting the next phase of their journey”

About Aritma

Founded in 1990 and headquartered in Bergen, Aritma is a cloud-native provider of banking and finance automation solutions. The company’s API-first platform connects ERP systems with the banking ecosystem, streamlining critical processes such as payments, bank reconciliation, and data validation. Aritma serves approximately 900 customers across the Nordics, including leading ERP vendors, accounting platforms, and financial institutions, with a growing presence across Europe. Its modular infrastructure is designed to support high-volume, regulated environments and enable automation at scale.

Nothing contained in this Press Release is intended to project, predict, guarantee, or forecast the future performance of any investment. This Press Release is for information purposes only and is not investment advice or an offer to buy or sell any securities or to invest in any funds or other investment vehicles managed by Main Capital Partners or any other person.

Categories: News

Liftoff Announces Minority Growth Equity Investment from General Atlantic at $4.3 Billion Valuation

Blackstone

Partnership underscores Liftoff’s industry leadership as an AI-enabled growth platform for the mobile app economy

REDWOOD CITY, Calif. – May 5, 2025 – Liftoff, a global leader in performance marketing and monetization solutions for the app economy, today announced that private equity funds managed by Blackstone (“Blackstone”) signed an agreement to sell a minority stake in Liftoff to General Atlantic, a leading global investor. As part of the terms of the transaction, long-time investor Blackstone will remain as the majority shareholder.

Liftoff is a leading AI-enabled end-to-end platform that enables mobile developers to build, drive discovery of, and monetize their apps. Blackstone drove the formation of the company from the transformative merger of its portfolio companies Liftoff and Vungle in 2021, which combined two scaled and highly complementary industry leaders. Following the merger, Liftoff has grown rapidly under CEO Jeremy Bondy and the current management team through an expanded portfolio of solutions and industry-leading product and technical innovation.

General Atlantic has a long history of investing in disruptive consumer technology businesses. General Atlantic will join Blackstone in supporting Liftoff’s next phase of growth as it scales its proprietary Cortex AI platform, builds on its leadership across the broader app economy, and looks to add capabilities through strategic M&A.

Jeremy Bondy, CEO of Liftoff, said: “This moment represents a potent combination of continuity and ambition. Our partnership with Blackstone has been transformative – over the past three years, we’ve merged Liftoff and Vungle, launched Cortex, and delivered significant momentum. The investment from General Atlantic is a testament to that progress, marking the next phase of our ascent and reinforcing our leadership across performance-driven mobile growth. While I’m proud of what we’ve accomplished, we’re still in the early innings of growth in a large and rapidly evolving category, with a team built for this moment and the rare opportunity to shape its future. We look forward to building the leading platform for the largest and fastest growing media environment in the world: the mobile phone.”

Tanzeen Syed, Managing Director and Head of Consumer Internet and Technology at General Atlantic, said: “We are thrilled to partner with Jeremy and his management team to help fulfill Liftoff’s vision of serving the mobile app ecosystem and continuing to power growth through its combination of innovative AI technology, superior execution, and unwavering customer centricity. Liftoff has reached an exciting business inflection point, and we look forward to providing support alongside Blackstone, who have shepherded the Company through a transformative period.”

Sachin Bavishi, Senior Managing Director at Blackstone, said: “It has been a pleasure to work alongside Jeremy and the entire management team over the past five years through Liftoff’s evolution into a leading mobile app growth platform. This investment is a prime example of Blackstone’s approach to partnering with highly talented management teams and deeply supporting them with value-added resources and expertise to drive material business transformation and outsized results for all stakeholders. We are thrilled to continue this journey with Liftoff and welcome General Atlantic as a new investor as we jointly support the company’s rapid growth trajectory.”

Goldman Sachs & Co. LLC and Jefferies LLC are serving as financial advisors and Simpson Thacher & Bartlett LLP is acting as legal advisor to Liftoff and Blackstone. Morgan Stanley & Co. LLC is serving as financial advisor and Paul Weiss is serving as legal advisor to General Atlantic. The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in mid-2025.

About Liftoff
Liftoff helps mobile businesses maximize their revenue. It provides machine learning-powered marketing, monetization, and creative solutions that create better ad experiences and connect people with the products they love. Founded in 2012 and headquartered in Redwood City, CA, Liftoff has a diverse, global presence.

About General Atlantic
General Atlantic is a leading global investor with more than four and a half decades of experience providing capital and strategic support for over 830 companies throughout its history. Established in 1980, General Atlantic continues to be a dedicated partner to visionary founders and investors seeking to build dynamic businesses and create long-term value. Guided by the conviction that entrepreneurs can be incredible agents of transformational change, the firm combines a collaborative global approach, sector-specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with and scale innovative businesses around the world. The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment platform spanning Growth Equity, Credit, Climate, and Sustainable Infrastructure strategies. General Atlantic manages approximately $108 billion in assets under management, inclusive of all strategies, as of March 31, 2025, with more than 900 professionals in 20 countries across five regions. For more information on General Atlantic, please visit: www.generalatlantic.com.

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s nearly $1.2 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.
 
Media Contacts

Liftoff
Casie A. Jordan
cjordan@liftoff.io
732-614-3880

General Atlantic
Emily Japlon & Sara Widmann
media@generalatlantic.com

Blackstone
Matthew Anderson
matthew.anderson@blackstone.com
518-248-7310

Categories: News

Tags:

PeakAvenue strengthens its product and knowledge leadership in FMEA software by joining forces with APIS

Main Capital Partners

PeakAvenue accelerates its buy-and-build strategy with APIS acquisition, strengthening product leadership, global footprint, and value creation in critical software markets.

Düsseldorf, May 5th 2025 – PeakAvenue, a leading provider of Engineering & Quality Management software, acquired the Failure Mode and Effects Analysis (“FMEA”) software specialist APIS Informationstechnologien (“APIS”). With the two companies joining forces, PeakAvenue strengthens its product and knowledge leadership in FMEA software. The acquisition of APIS marks the fourth acquisition in PeakAvenue’s buy-and-build strategy backed by Main Capital Partners.

Founded in 1988 and headquartered at Wörth an der Donau (Germany), APIS provides FMEA and risk analysis software. APIS’s software helps to systematically identify potential failure modes, assess their impact, and prioritize them for mitigation. The impact on companies using the solutions is an early failure prevention and improved regulatory compliance, leading in each case to substantial savings. The company employs more than 50 employees and serves a diverse blue chip customer base of more than 1,500 customers from various industries. Reference customers include Infineon, ZF, Bosch and Schaeffler.

The business combination will not only strengthen PeakAvenue’s knowledge and product leadership in FMEA and functional safety software but will also provide its customers the benefit of an integrated product suite covering the entire digital thread – from idea to product over the entire product lifecycle. This includes – amongst others – the deep integration of FMEA software with PeakAvenue’s best-of-breed software offerings in RAMS (reliability, availability, maintainability, safety) and quality management.

With APIS’s strong presence in the US and in Asia, PeakAvenue will also further expand its growing US footprint and significantly increase its customer base in Asia. The combined group employs a seasoned team of over 200 employees with offices in Germany, the US, the UK, and China and serves 3,000 customers around the globe.

Dorian Berndt, Investment Director at Main Capital Partners

The acquisition of APIS will significantly strengthen PeakAvenue in its quest to become a global leader in engineering & quality management software.”

– Dorian Berndt, Investment Director at Main Capital Partners

Peter Rosenbeck and Julia Dietz, Co-CEOs of APIS, comment: “The sale of APIS to PeakAvenue represents a significant step in our company’s history. We are delighted that our company and our solutions will now continue in such a forward-looking and innovative environment. We are convinced that APIS will benefit enormously from being part of this new, global force – and that together we will set new standards in the world of engineering and quality management. This partnership will create real value for our employees, customers and the industry as a whole.”

Ulrich Mangold, CEO at PeakAvenue, emphasizes: ”We are thrilled to announce the acquisition of APIS, a renowned provider of world-class FMEA software. This strategic addition marks a significant milestone in enhancing the PeakAvenue platform. By integrating APIS’s FMEA capabilities into our cloud-based solution, we will significantly elevate the value delivered to our customers. The integration will enable seamlessly connected quality loops, access to intelligent AI-driven solutions, and audit-proof data storage—further strengthening our commitment to smarter, more integrated engineering and quality management.”

Dorian Berndt, Investment Director at Main Capital Partners, concludes: “Managing the ever-growing complexity in product development and quality management processes has been the focus of PeakAvenue’s buy-and-build strategy. We see FMEA software as key to operate safety critical functions reliably, reducing the risk of accidents and system failures. The acquisition of APIS will significantly strengthen PeakAvenue in its quest to become a global leader in engineering & quality management software.”

About APIS

Established in 1988, APIS is a software provider in the FMEA software space. With around 53 employees across three subsidiaries in Germany, USA and China, APIS provides functional safety analysis, FMEA, FTA and design review by failure mode applications. APIS’ software is used by over 1,500 companies worldwide with customers from various engineering verticals such as transportation, telecommunications, electronics and automotive.

About PeakAvenue

PeakAvenue is a dynamic and innovative international provider of software solutions specializing on engineering and quality management. With a focus on setting new benchmarks across the product life cycle, the company empowers organizations to work smarter and more efficiently in an increasingly complex environment. Through the strategic integration of best-in-class companies in the domains of RAMS (Reliability, Availability, Maintainability & Safety), Risk Management, and Quality Management Systems (QMS), PeakAvenue delivers a unified, user experience–optimized platform that supports the entire digital thread. This modular integration acts as a cohesive force, seamlessly aligning and enhancing customer workflows. With over 30 years of industry expertise, PeakAvenue serves a global customer base exceeding 2,500 organizations.

Nothing contained in this Press Release is intended to project, predict, guarantee, or forecast the future performance of any investment. This Press Release is for information purposes only and is not investment advice or an offer to buy or sell any securities or to invest in any funds or other investment vehicles managed by Main Capital Partners or any other person.

Categories: News

Elanco Sells Royalty and Milestone Rights for Lotilaner in Human Health to Blackstone; Accelerates Debt Paydown

Blackstone

GREENFIELD, Ind. (May 5, 2025) Elanco Animal Health Incorporated (NYSE: ELAN) today announced the sale of certain future tiered royalties and commercial milestones associated with XDEMVY® (lotilaner ophthalmic solution) 0.25%, for the human health application of lotilaner, to funds affiliated with Blackstone Life Sciences and Blackstone Credit & Insurance for $295 million in cash. Monetization of this non-core asset will be used to accelerate debt reduction, positioning Elanco to achieve an expected net leverage ratio of 3.9x to 4.3x adjusted EBITDA by the end of 2025. Elanco will repay portions of its outstanding term loans on a pro-rata basis, which is expected to reduce interest expense by approximately $10 million, offset by the sale of approximately $10 million of royalties based on Elanco’s initial 2025 guidance.

In 2019, Elanco exclusively licensed lotilaner to Tarsus Pharmaceuticals, Inc. (NASDAQ: TARS) for exploration as a solution to several unmet human health needs. In 2023, XDEMVY became the first lotilaner-based product approved for human use and the only FDA-approved medicine for treatment of Demodex blepharitis (DB), a common eyelid disease in humans caused by Demodex mites.

“Elanco’s team of scientific experts is focused on identifying and developing molecules to generate high-impact innovation, not just in our own portfolio, but in adjacent industries to create broader value,” said Jeff Simmons, Elanco President and CEO. “As we continue to focus on launching our recent innovation and accelerating our core business sales growth in 2025, this transaction delivers incremental cash that advances our deleveraging goals making high 3x net leverage a real possibility by the end of 2025. We appreciate Blackstone’s collaborative investment to further Elanco’s goals and their recognition of the positive potential impact of XDEMVY on millions of DB patients in the U.S.”

“Elanco’s innovation served as the basis for XDEMVY’s strong efficacy and safety profile, and Tarsus’ executional strength has led to its rapid adoption and commercial success. We are pleased to partner with both leading pharmaceutical companies and back this first-in-class treatment that addresses a pervasive and damaging eyelid disease,” said Craig Shepherd and Kiran Reddy, MD, Senior Managing Directors, Blackstone Life Sciences.

The agreement applies to certain tiered royalties associated with the U.S. net sales of XDEMVY from April 2025 through August 2033 and certain commercial milestones. Elanco retains the rights to all royalty payments on net sales outside the U.S. as well as any future human applications of lotilaner beyond ophthalmic solutions.   

Morgan Stanley & Co. LLC acted as the sole structuring agent.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, including, without limitation, statements concerning the expected financial impacts of the royalty sale on our financial results, plans for using the cash we receive in the sale, and expected financial results for 2025. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important risk factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, including our ability to recognize the expected financial and cash generation benefits of the transaction and additional factors that could cause actual results to differ materially from forward-looking statements described in the company’s latest Form 10-K and Form 10-Qs filed with the Securities and Exchange Commission. We caution you against relying on any forward-looking statements, which should also be read in conjunction with the other cautionary statements that are included elsewhere in this press release. Any forward-looking statement made by us in this press release speaks only as of the date thereof. We undertake no obligation to publicly update or to revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

About Elanco
Elanco Animal Health Incorporated (NYSE: ELAN) is a global leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating value for farmers, pet owners, veterinarians, stakeholders and society as a whole. With 70 years of animal health heritage, we are committed to breaking boundaries and going beyond to help our customers improve the health of animals in their care, while also making a meaningful impact on our local and global communities. At Elanco, we are driven by our vision of Food and Companionship Enriching Life and our Elanco Healthy Purpose™ sustainability pillars – all to advance the health of animals, people, the planet and our enterprise. Learn more at www.elanco.com.

About Blackstone Life Sciences
Blackstone Life Sciences (BXLS) is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, BXLS helps bring to market promising new medicines and medical technologies that improve patients’ lives and currently has $12 billion in assets under management.

About Blackstone Credit & Insurance
Blackstone Credit & Insurance (“BXCI”) is one of the world’s leading credit investors. Our investments span the credit markets, including private investment grade, asset-based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.

Elanco Contact
Investors: Tiffany Kanaga
(765) 740-0314
tiffany.kanaga@elancoah.com

Media: Colleen Dekker
(317) 989-7011
colleen.dekker@elancoah.com

Blackstone Contact
David Vitek
David.Vitek@blackstone.com

Categories: News

Tags:

Thoma Bravo Announces More Than $100M Strategic Growth Investment in HubSync

Thomabravo

MIAMI and FRANKLIN, Tenn.—Thoma Bravo, a leading software investment firm, today announced a strategic growth investment of more than $100 million in HubSync, the premier all-in-one tax and accounting platform, automating CPA firms. The investment is expected to accelerate HubSync’s product roadmap and customer service, as well as enable continued growth and innovation.

HubSync is a leader in tax and accounting automation and client experience, empowering accounting firms and tax professionals with its innovative platform that drives efficiency, accuracy, and enhanced workflows for its clients. More than 85% of top CPA firms rely on five or more software point solutions to manage their workflows—which allow all-in-one modern and automated solutions like HubSync to drive significant ROI in comparison.

Founded in 2019, HubSync has experienced rapid growth, achieving 744% revenue expansion from 2020 to 2024 while delivering strong profitability. Today, HubSync serves some of the largest CPA firms in the U.S. who have transformed their client facing experience and internal accounting preparation workflow with HubSync’s innovative solutions. HubSync has over 40% of the top 25 accounting firms in the United States as customers, with a robust pipeline of future growth.

“HubSync’s mission to modernize tax and accounting technology has reshaped the industry,” said John McGowan, Founder and CEO of HubSync. “Thoma Bravo’s expertise in scaling software companies will help accelerate our innovation, expand our industry reach, and enhance the value we deliver to our clients.”

Prior to founding HubSync, John spent more than 20 years driving technology and innovation as KPMG’s Chief Information Officer for global tax and and leading Tax Technology at Deloitte.

“This investment is a testament to the strength of our platform and team. We look forward to partnering with Thoma Bravo to drive further growth and transformation of the tax and accounting landscape,” says John McGowan.

“HubSync’s cutting-edge technology and market leadership position it as a standout in the tax and accounting software space,” said Ross Devor, a Partner at Thoma Bravo. “John and his team have used their deep industry experience to build a platform that meets the critical needs of tax and accounting professionals as they seek to unlock efficiencies and streamline their workflows, as well as elevate customer experience and satisfaction. We see tremendous potential to scale HubSync’s solutions and capture a larger share of this growing market.”

“We’ve been impressed by HubSync’s rapid growth and innovative approach,” said Dillon Biddiscombe, a Vice President at Thoma Bravo. “We’re excited to leverage our operational expertise to support HubSync’s next phase of expansion.”

Kaizen Equity Partners served as financial advisor and Taft Law acted as legal counsel to HubSync. Goodwin served as legal counsel to Thoma Bravo.

About HubSync
HubSync is a leading provider of tax compliance and workflow automation software currently servicing the leading CPA firms across the US and Canada, representing over 100% customer growth over the last year. Headquartered in Franklin, Tennessee, HubSync was founded in 2019 and has been recognized on the 2024 Deloitte Technology Fast 500 for its 550% revenue growth. For more information, visit www.hubsync.com.

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.

Read the release on PR Newswire here.

Categories: News

Tags:

Ivanti Announces Successful Refinancing and New Capital Infusion to Support Key Strategic Initiatives

Clearlake

Optimized Capital Structure Bolsters Ability to Invest Across Full Spectrum of IT, Network Security, and Exposure Management to Empower Customers’ Business Goals

May 2, 2025 — SALT LAKE CITY — Ivanti, the enterprise software company that provides a comprehensive IT and security cloud-based platform, announced today that it has successfully closed a refinancing transaction. This was achieved with the support of an overwhelming majority of its existing lenders.

As part of this transaction, Ivanti raised $350 million of new capital and extended the maturity of its existing debt facilities to 2029, bolstering its liquidity position and financial flexibility to support the Company’s key strategic initiatives. The transaction was open to all holders of its existing first lien and second lien term loans.

“We greatly appreciate the broad-based support from investors across our capital structure to reach this positive outcome, demonstrating their continued confidence in our business,” said Dennis Kozak, CEO of Ivanti. “With additional capital and extended debt maturities, we believe that we are well positioned to progress our ongoing transformation, provide customers with improved capabilities and security, and deliver long-term success.”

Over the past year, Ivanti has made substantial advancements to its products and processes, and the Company’s strengthened financial foundation is expected to enhance its ability to invest across its solutions to empower customers’ business goals and provide seamless, flexible solutions that are built to address the evolving threat landscape. Ivanti is backed by Clearlake Capital Group, L.P., Charlesbank Capital Partners, LLC, and TA Associates Kirkland & Ellis LLP and Evercore Group LLC are serving as legal and financial advisors to Ivanti.

About Ivanti Ivanti is an enterprise software company that provides a comprehensive IT and security cloudbased platform. Ivanti provides software solutions that scale with our customers’ needs to help enable IT and Security to improve operational efficiency while reducing costs and proactively reducing security risk. The Ivanti Neurons platform is cloud-native and is designed as a foundation of unified and reusable services and tools for consistent visibility, scalability and secure solution delivery. Over 34,000 customers, including 85 of the Fortune 100, have chosen Ivanti to meet challenges head-on with its end-to-end solutions. At Ivanti, we strive to create an environment where all perspectives are heard, respected and valued and we are committed to a more sustainable future for our customers, partners, employees and the planet. For more information, visit www.ivanti.com and follow @GoIvanti.

Categories: News

Tags: