Bure completes acquisition of Silex Microsystems – a Swedish world-leading semiconductor company

Bure
Regulatory

Bure announces today that it has completed the acquisition of 17.0 percent of the shares in the Swedish semiconductor company Silex Microsystems (“Silex” or “the Company”), as previously disclosed on June 13, 2025. The transaction has now been finalized following the fulfillment of all closing conditions. The acquisition is being carried out together with a consortium (the “Consortium”) of long-term Swedish investors led by Bure and Creades, which collectively acquires 48.2 percent of the shares in the Company. The Consortium, along with the Company’s management and founders, becomes the new majority owner of Silex, thereby regaining Swedish majority ownership of the Company.

Other members of the Consortium include Grenspecialisten, 3S Invest, SEB-Stiftelsen, and TomEnterprise. Together with the Company’s founder and CEO Edvard Kälvesten and the management team, whose combined ownership amounts to 6.5 percent, the Consortium will thereby control 54.8 percent of the Company.

In connection with the change in ownership, Patrik Tigerschiöld will assume the role of Chairman of the Board of the Company.

Henrik Blomquist, CEO of Bure, comments: “We are pleased that the transaction has now been completed and look forward to beginning our long-term commitment to Silex together with the Company’s management. The Company holds an impressive global market position in a rapidly growing technology segment, and we are excited to contribute to its continued expansion.”

In connection with the transaction, the Consortium has engaged SEB Corporate Finance, law firm Cederquist, and EY-Parthenon as advisors on financial, legal, and tax matters.

For further information, please contact:
Henrik Blomquist, CEO
Phone: +46 8 614 00 20

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Ardian and Rockfield strengthen European PBSA Strategy with a new acquisition in Terrassa (Barcelona) from ACCIONA

Ardian

The PBSA asset comprises a seven-floor building located on the former AEG factory in Terrassa
● It comprises 12,700 sqm, with 358 rooms with capacity for 369 beds, and indoor and outdoor amenities totaling more than 2,600 sqm
● This deal marks the second acquisition in Spain and the seventh closed by Ardian and Rockfield in just eight months since the launch of their European PBSA strategy

Ardian, a world-leading private investment firm, and Rockfield Real Estate, a vertically integrated living platform, consolidate their position in the student living sector with a new investment, a 369-bed student accommodation asset located in Terrassa (Barcelona). This marks the second deal in Spain, after the acquisition of Cristóbal de Moura 196 in Barcelona, and the seventh deal closed by Ardian and Rockfield in just eight months since the launch of their pan-European Purpose-Built Student Accommodation (PBSA) strategy.

The asset comprises a seven-floor building located on the site of the former AEG factory in Terrasa, Avinguda Jaume I, 60, acquired from ACCIONA Living & Culture. With its extensive experience in residential development, ACCIONA has transformed the site into a masterplan that will feature residential, tertiary uses, green spaces and over 3.500 sqm of retail.

The recently completed asset, which includes 358 rooms and almost 3,000 sqm of indoor and outdoor amenities, will be a reference in the city for university housing.

Located in close proximity to the main university centers and the Nord train station, the asset provides excellent connectivity to the city center and Barcelona. The property has been designed to offer a sustainable, modern living environment, with spacious, fully furnished rooms, gym, canteen, swimming pool and large gardens and green areas.

“Spain presents a highly attractive student-to-bed ratio, reflecting strong demand and limited supply. In Terrassa, there are currently just 315 beds available for an estimated demand of 2,200. Existing options are outdated and lack the premium services students increasingly expect. This asset represents a unique opportunity to enter the PBSA market in Catalonia’s second most important university city, in a prime location. It fully aligns with our investment strategy, meeting top international standards of quality and sustainability.” Edmund Eggins, Managing Director, Real Estate, Ardian

“This acquisition perfectly fits our strategy of targeting acquisitions and forward-funding opportunities of best-in-class PBSA schemes. 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.” Juan Manuel Acosta, CIO Rockfield Real Estate

ABOUT ARDIAN

Ardian is a world-leading private investment firm, managing or advising $180bn 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.

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.

ABOUT ACCIONA LIVING & CULTURE

ACCIONA Living & Culture is a global company that combines innovative urbanism and culture to develop sustainable projects around the world. With more than 30 years of experience and presence in over 40 countries, the company has created responsible urban solutions that include residential complexes, iconic offices, interior design projects and logistics spaces, as well as museums, exhibitions, immersive experiences and sports and entertainment events. Notable cultural projects developed by ACCIONA Living & Culture include the Grand Egyptian Museum, the House of European History Museum in Brussels and the Qatar Olympic & Sports Museum. In the residential sector, it has developed more than 13,000 homes in Spain, Mexico, Poland, Portugal and Brazil, as well as offices and major logistics projects.
ACCIONA is a global company and a leader in the provision of regenerative solutions for a decarbonized economy. Its business offer includes renewable energy, water treatment and management, eco-efficient transportation and mobility systems, resilient infrastructures, etc. The company has been carbon neutral since 2016. ACCIONA recorded sales of €17 billion in 2023 and has a business presence in more than 40 countries.

Press contact

Ardian

Press contact

ROCKFIELD REAL ESTATE

Sander van Essen

Sander.van.essen@rockfield.nl 

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Concord Closes $1.765 Billion ABS to Fuel Continued Growth

Apollo logo
Transaction Features First of its Kind 10-Year Tranche, Demonstrating Continued Innovation in Music Securitization

NASHVILLE AND NEW YORK – July 22, 2025 – Concord, the world’s leading independent music company, has successfully issued $1.765 billion in a series of new five-year, seven-year, and ten-year senior notes. The ten-year tranche was privately placed and represents the longest duration ABS issuance at scale in the music sector. The notes are secured by Concord’s catalog of over 1.3 million music copyrights, featuring the songs and recordings of marquee artists such as The Beatles, Beyonce, Bruno Mars, Carrie Underwood, Creedence Clearwater Revival, Daddy Yankee, Ed Sheeran, Genesis, Imagine Dragons, John Fogerty, Kiss, Michael Jackson, Otis Redding, Phil Collins, Pink Floyd, R.E.M., Rihanna, Rodgers & Hammerstein, Taylor Swift, and The Rolling Stones. The latest issuance represents Concord’s fourth securitization offering and the largest and longest tenured asset-backed term securitization of music rights to date.

Concord’s securitization catalog is valued at more than $5.1 billion and the notes were rated A+ by KBRA and A2 by Moody’s. Apollo (NYSE: APO), through its Capital Solutions business and affiliates ATLAS SP Partners and Redding Ridge Asset Management, structured the ABS transaction and formed an investor syndicate led by Apollo-managed funds and affiliates. Proceeds from the issuance will be used to repay the company’s $1.65 billion 2022-1 note series and refinance and extend its $100 million variable funding note. The transaction was more than three times oversubscribed, reflecting robust investor demand underpinning Concord’s ABS strategy.

“As Concord continues to grow both our catalog and frontline roster, ensuring long-term access to institutional capital and continuing to build upon our strong financial foundation are crucial. ABS transactions like the one we just closed will remain a vital part of our growth strategy, allowing us to continue to lower our cost of capital while expanding our global capabilities in support of the artists and songwriters we serve,” said Bob Valentine, CEO of Concord. “I am incredibly grateful to the Apollo team, who continue to provide customized solutions so that Concord can live out its mission to elevate the voices of artists around the world.”

“We are pleased to structure and lead this landmark ABS transaction for Concord, which represents a continuation of our long-term financing partnership and demonstrates Concord’s innovative approach to music securitization through the issuance of the industry’s first 10-year tranche,” said Apollo Partner Michael Paniwozik. “We continue to be impressed by the quality and breadth of the actively managed catalog that Concord has built and look forward to supporting its journey for years to come.”

“It has been immensely rewarding to support Concord’s continued evolution leveraging the ABS structure that we established in 2022,” said Apollo Managing Director Paul Sipio. “Since that time, Bob and team have made tremendous progress advancing the company’s growth strategy through several additive acquisitions. We believe the four transactions that we’ve executed with Concord to date reflect the differentiated nature of Apollo’s integrated platform, bringing together combined capabilities of Apollo, ATLAS SP, and Redding Ridge to provide tailored structured solutions.”

Apollo Global Securities, LLC and ATLAS SP Securities acted as joint bookrunners for the transaction, Redding Ridge Asset Management served as structuring agent, with the Bank of New York Mellon acting as trustee. Virtu Global Advisors, LLC provided valuation services, while DLA Piper provided legal counsel for Concord and Milbank LLP for Apollo affiliates.


CONCORD is the world’s leading independent music company. The Company supports more than 125,000 artists and songwriters whose works are licensed, marketed, and performed globally. Concord’s growing catalog of 1.3 million songs, compositions, sound recordings, films, plays, and musicals is one of the most impactful and culturally relevant collections of creative rights in history. Concord is headquartered in Nashville with offices in Los Angeles, New York, London, Berlin, Melbourne, and Miami.

Supporting Concord and its predecessor companies since 2006, GREAT MOUNTAIN PARTNERS (“GMP”) is a New Haven, CT based asset manager with more than $10BN AUM, founded by Alex Thomson and Jon Rotolo. GMP’s team are longtime investors in the media and entertainment industry with experience across music, film and TV, live events and other IP based assets. GMP brings a long-term and solutions-oriented mindset to partnering with institutional investors and portfolio company leadership.

CoSolvia becomes part of the Vivecti Group, backed by Nordic Capital

Nordic Capital

CoSolvia will be the tenth company to join the Vivecti Group, thus extending the range of expertise of the market-leading performance partner for healthcare providers in the fields of medical and operational technology.

As a specialized service provider for the optimization of hospital equipment, CoSolvia brings new expertise to the Group. For the Vivecti Group, this is a further logical step in the execution of its vision to comprehensively and sustainably increase the efficiency, cost-effectiveness and quality of healthcare providers.

“Over the last two decades, CoSolvia has built an excellent reputation and we are delighted to welcome CoSolvia to the Vivecti Group. With this acquisition, we will expand our portfolio with comprehensive optimization and support services for the procurement and operation of medical and operational technology,” explains Dr. Benjamin I. Behar, CEO of the Vivecti Group.

CoSolvia is a leading provider of modular services for hospitals in the fields of medical and operational technology. With intelligent and specialized approaches, the company supports hospitals in reducing costs and optimizing processes – by optimizing the device inventory and maintenance and service costs or through investment planning aligned with a clinic’s operational needs. Hence, CoSolvia’s expertise contributes directly to increasing the efficiency and competitiveness of healthcare providers.

The acquisition of CoSolvia marks the next step in the long-standing, trusting cooperation between the two companies. The Vivecti subsidiary Prospitalia and CoSolvia are already cooperating successfully in the field of medical technology procurement and have created significant value for a wide range of customers. WMC has also been able to draw on CoSolvia’s expertise in selected consulting projects in the past.

“We are very proud to have CoSolvia joining Vivecti, as their expertise and range of services have already impressed us in the past,” Dr. Behar continues. “In addition, we complement each other perfectly.”

A view that Christian Somberg shares. As Managing Director of CoSolvia, he will continue to run the company together with Cord Brüning under the umbrella of the Vivecti Group. “Together, we will be able to offer hospitals even more comprehensive and effective solutions – a real win-win situation for our customers and the entire healthcare sector.”

Somberg and Brüning can both draw on many years of experience in the German healthcare sector. Christian Somberg worked for many years at Dräger, a leading international company for medical and safety technology, before becoming Managing Director of HERMED Technische Beratungs GmbH, a Fresenius subsidiary. Cord Brüning founded CoSolvia more than twenty years ago as a subsidiary of EADS in order to focus on services and consulting for technical operations in hospitals. In addition, he volunteers as chairman of the Wissenschaftliche Gesellschaft für Krankenhaustechnik e.V. (Scientific Society for Hospital Technology) to transfer know-how and promote young talent.

“The Vivecti Group is the partner of choice for us. My team and I have already enjoyed working with Vivecti to date and have shown that together we will be able to even better address our customers‘ challenges and achieve an even greater impact,” says Brüning, explaining this strategic move.

The Vivecti Group is known for its excellent services and innovative, technology-based solutions in the healthcare industry. With a holistic offering that focuses on the optimization and digitalization of processes ranging from procurement services and software to clinic management and specialized consulting services, the Vivecti Group currently helps more than 4,500 healthcare facilities to work more efficiently, sustainably and economically in challenging times.

With the integration of CoSolvia, the Vivecti Group is taking the next step in its mission to elevate healthcare providers’ performance to a new level through holistic approaches, innovation and partnership.

“This strategic acquisition is a win-win situation for everyone involved: our customers benefit from an even broader and more efficient range of services, and we can strengthen our contribution to a sustainable healthcare system,” summarizes Dr. Behar.

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Forecast announces acquisition by Accelo

Balderton

Accelo, a leading platform for professional services automation (PSA), announced today its acquisition of Forecast, a global provider of AI-powered project and resource management software. Balderton first invested in Forecast’s Series A in 2021.

We want to share our congratulations to Dennis and the Forecast team on joining Accelo. Dennis was early to recognise the potential of AI when applied to tasks like project management, and we look forward to the product going from strength to strength with this new capital and platform behind them.

James WisePartner, Balderton

By combining Accelo’s comprehensive quote-to-cash project management solutions with Forecast’s AI-driven capacity planning capabilities, customers will gain smarter workflow automation, advanced resource planning and actionable profitability insights.

The Forecast team will join Accelo to accelerate innovation across both platforms, with a shared vision to eliminate operational blind spots and empower teams to do their best work. Customers of both platforms can expect continued support and improvements, with future product enhancements driven by collaborative innovation and customer feedback.

Joining forces with Accelo unlocks a huge opportunity to accelerate our shared mission—streamlining complex workflows, reducing operational friction, and helping teams deliver profitable project outcomes.

Dennis KayserCEO, Forecast

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Gimv invests in Hemink, a Dutch renovation and maintenance specialist with focus on sustainable real estate

GIMV

Hemink Group welcomes Gimv as a new investor. Gimv acquires a majority stake from minority shareholder Pontex and the former management of Hemink. The latter will retain a minority stake in the new structure. Hemink’s current management team will co-invest, underlining their long-term commitment to the company’s further growth. In collaboration with Gimv, Hemink aims to further expand its activities as a national player in property maintenance in a sustainable manner. This will enable Hemink to respond even better to the growing demand from clients while continuing to offer good conditions for their employees.

Hemink has been a leading player in the finishing, and sustainable renovation and maintenance of real estate for more than 65 years. The company specialises in circular project approaches and results-oriented property maintenance, with a specific focus on large-scale and extensive sustainable renovation projects.

Over the years, Hemink has experienced strong growth and built a solid reputation by completely unburdening their clients with their comprehensive set of services. Quality, flexibility and craftsmanship are core values that are decisive for clients. Due to this approach, Hemink has built up an impressive client base consisting of long-term partnerships and many multi-year contracts. With over 370 employees and a network of loyal partners, the company can respond quickly and flexibly to local needs. Hemink operates from four locations and is headquartered in Holten.

Shared ambition, moving forward together
The sustainable renovation of real estate requires an integrated approach. The focus is shifting to results-oriented property maintenance, in collaboration with all stakeholders, and aimed at long-term performance, optimized total cost of ownership, minimal environmental impact and maximum value for residents.

Circular maintenance and renovation enable the reuse of materials, reduction of waste and limit CO₂ emissions. This transition requires cooperation across chains, smart planning and data-driven decision-making, ensuring that sustainability, maintenance and improvement go hand in hand, efficiently, measurably and with a long-term impact. This approach is essential to keep the housing stock sustainable and affordable for the future.

Established foundation, new opportunities
For employees, customers and partners, very little will change. Hemink will continue to operate under its own identity, with the same people, the same approach and the same ambition. The partnership with Gimv provides significant opportunities: additional knowledge and experience, and strength to further contribute to building a future-proof Netherlands.

Rutger Vrielink (CEO) and Dennis Schasfoort (CFO), explain: “With our qualified employees and extensive range of services, we add value for our clients and actively contribute to making the Netherlands more sustainable. Pragmatic, creative and results-oriented: that is what defines us! We would like to thank Pontex for the pleasant cooperation over the past years and, together with Gimv, we are taking the next step to serve our clients even better.”

Rombout Poos (Partner) and Cos Vrins (Principal) in Gimv’s Sustainable Cities form the deal team and describe the investment as follows: “Hemink is a strong player in a segment that responds to important trends that closely align with the strategy of our Sustainable Cities platform. We look forward to working with the Hemink team to realise further expansion and, with it, the further sustainability of the Dutch housing stock.”

Franck Marra (Partner) and Luuk Boere (Investment Manager) at Pontex Investment Partners state: “Hemink has achieved strong growth over the past four years. Its strong entrepreneurial spirit and innovative culture have been key drivers for its success. We are proud that Pontex has been able to contribute to this growth as an actively engaged shareholder. We would like to thank all employees for their continued commitment and dedication and, in particular, Jan, Bert, Robert, Dennis and Rutger for their leadership and vision.”

The transaction is subject to customary conditions, including approval by the competition authorities. No further financial details will be disclosed.

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Why We Invested in inforcer: The fastest-growing MSP platform that brings security and AI to every small business

Dawn

Win-win-win in delivering AI 

Today, everyone wants AI. Not just the world’s largest enterprises but also small and medium-sized businesses (SMBs), who form the backbone of economies around the world. However, SMBs lack the appetite and capability to either build custom AI in-house or to sift through the exploding number of external options. So, they turn to their existing, trusted platforms of work to deliver the solutions they need – just like in technology revolutions of the past. For many, this is Microsoft. After all, you cannot go wrong with a brand that gave you your first assistant, Clippy.

Microsoft, the world’s second most valuable company by market cap, has long seen this as a huge opportunity. They have been investing heavily in their SMB offering, not just in AI, but across security and cloud more broadly. In fact, its best-in-class suite makes it a vendor of choice for 80% of SMBs, spanning 350 million users globally and representing around 35% of Microsoft’s revenue.

But Microsoft’s platform is horizontal by design – complex and difficult to use out of the box. While enterprises can get white-glove service from system integrators to ‘tune’ it to their needs, it is impossible to offer the same to the fragmented tail end of the SMBs. So, Microsoft relies on its channel partners, the 150,000 Managed Service Providers (MSPs) worldwide, to provide the last mile of context and customisation. MSPs serve as the translation layer between Microsoft’s products and the needs of SMBs using them. MSPs love this trade: they want to co-sell with Microsoft’s trusted branding in hand or, as the industry talks about, become a “Microsoft Service Provider”. Microsoft estimates that MSPs can earn up to $10 in attached services revenue per $1 of software spend (!).

However, MSPs face scaling challenges in delivering these custom services, within a business model that is already very labour-intensive. Microsoft doesn’t help: under the hood of a mighty ‘platform’, it represents dozens of SKUs that are often updated, with continually evolving pricing and packaging. It is challenging to distribute, implement and use scalably.

There is a massive opportunity in connecting and enabling these three actors – SMBs, Microsoft, and MSPs. This is where inforcer fits in: a platform that bridges the gap. For inforcer, MSPs are not the channel but the end-customer. But by serving MSPs, inforcer enables SMBs to access Microsoft products, and with that, the latest technology toolkit they deserve. inforcer creates a “win-win-win” for all three across cloud, security and AI. And it shows: its founders – Jamie (CEO), Richard (CFO) and Will (CCO) – have become an unstoppable ‘force’ in the market (pun very much intended).

Two acts to conquer billions of spend

inforcer is a bit of a revolution in the world of MSPs. It is the “most loved” tool that solves their hardest business problems: sell more Microsoft, delight SMBs (otherwise known as ‘tenants’), and, ultimately, make more money by growing revenue and improving margins.

So what does this mean in practice? The founders are conquering billions of dollars that MSPs represent, both in direct spend and budgets they advise on, in two acts. Their first act is to help MSPs scale: configuring tenants more quickly and effectively, and moving upmarket with a security offering. Their second act is to help MSPs become the strategic AI partner to SMBs – the holy grail of opportunity in today’s ‘AI or die’ world.

(i) inforcer helps MSPs scale and sell more Microsoft cloud and security to SMBs

The Microsoft suite is painful for MSPs to use “out-of-the-box”. It is insecure and unconfigured. It is not multi-tenant, meaning that manual changes need to be made for each SMB individually (an MSP might repeat the same process >50 times!). Finally, it is highly complex – with a steep learning curve and a labyrinth of individual portals. All of this means that MSPs and SMBs don’t get full use out of products already included in their licences – like Entra (SSO), Intune (MDM), and Defender (Security).

inforcer helps MSPs scale their operations with a single point of control, enabling them to implement, configure, and manage all of Microsoft’s suite. This includes: i) rapidly deploying and backing up new tenant-specific set-ups; ii) conducting in-depth audits and reports; and iii) providing prospecting tools to demonstrate the value of tenant security,  all informed by inforcer’s best practice. This enables every MSP to spend more time where it counts: with customers, deepening their relationship and curating the perfect setup for them./

Uniquely, MSPs win with inforcer across their entire P&L:

  • On the topline, inforcer lets MSPs upsell more “wrap-around” services. These are services where MSPs previously had resource or knowledge gaps, such as identity and access management or endpoint protection.
  • On the bottom line, inforcer saves MSPs hours of painful manual work across all their tenants. It also helps MSPs utilise the full suite of specialist products already included with their Microsoft business license, which they previously did not know how to leverage, saving even more on expensive third-party tooling or outsourcing services.
  • And a bonus compliance point: MSPs benefit from significantly reduced risk, provided by previously unfeasible continuous monitoring.
             Figure: The Microsoft MSP stack - powered by inforcer

(ii) inforcer helps MSPs become the strategic AI partner to SMBs.

MSPs have been a trusted advisor to SMBs for decades. They have enabled SMBs to adopt technology in waves, from break-fix to cloud to security. Now, inforcer is powering the next big wave: AI.

Microsoft has bet its future on AI and Copilot. Just read their earnings calls: it was mentioned 117 times in Q1-25 alone. And 60% of organisations plan to rely on Microsoft for most of their AI needs, according to Gartner.

SMBs, as ever, expect MSPs to guide them through this transition. Some of this is new: building and enabling AI-powered workflows, with tools like M365 Copilot and increasingly Copilot Studio Agents. But, much resembles what MSPs are already great at: maintaining systems in production. They’ll govern and secure AI use cases, ensure data governance, and track success.

          Figure: The Microsoft AI stack - powered by inforcer

This is what makes inforcer truly strategic. It is not “just another tool for MSPs”. It is a platform that is riding on the coattails of an AI giant to enable billions of MSP spend and, as a result, is upskilling and protecting thousands of small businesses.

From Richmond to Redmond and beyond

The real force of inforcer is its exceptional team. It brought together formidable executors, with decades of combined experience at the service of MSPs and SMBs. Another member of the ecosystem talked about the difficulty he had finding talent – “Jamie had already hired the A-team!” True industry heavyweights – the likes of Matthé (CPO), Christian (Chief Strategy Officer) and Jake (VP of Global Sales) – anchor a deep bench of phenomenal operators, where not a single team member is accidental.

Born in Richmond three years ago, where the founders built and sold their first MSP venture, inforcer is already off to conquer the rest of the world. They are scaling incredibly fast: in the last twelve months, inforcer grew 10x and now serves over 800 MSPs, with offices across the US, the UK, the Netherlands, Denmark and Australia.

We’re delighted to team up with our friends at Meritech Capital, with inforcer being the first Series A they have ever led, and look forward to joining forces with Jamie, Richard, Will and the whole team to make inforcer a truly generational business.

Knowtion Health Completes Acquisition of Switch RCM, Strengthens Executive Team and Innovation Capabilities

Arsenal Capital Partners

Boca Raton, FL – Knowtion Health (“Knowtion”), a leading healthcare revenue cycle company, today announced it has completed the acquisition of Switch RCM (“Switch”), a data- and technology-first company that uncovers and resolves overlooked reimbursement entitlements through intelligent automation and data-driven innovation.

“This acquisition brings four new service solutions, powerful technology, and exceptional leadership that will significantly strengthen our ability to serve clients and deliver greater impact,” said Jayson Yardley, Chief Executive Officer of Knowtion. “Importantly, Switch shares our unwavering commitment to helping healthcare providers recover more earned revenue from insurance payers, especially when it comes to the most complex and challenging reimbursement opportunities.”

To support its continued growth and strategic direction, Knowtion also announced key executive leadership appointments.

  • Erica Tingley has been named President, reporting to CEO Jayson Yardley. This role is in addition to her current role as Chief Financial Officer, as she will take responsibility for delivery of the company’s solutions.
  • Jon Scala, former Chief Executive Officer of Switch, joins Knowtion as Chief Strategy Officer. Jon will focus on acquisition growth, hiring strategic new talent, and expanding client relationships. He brings extensive experience in identifying market opportunities and driving operational excellence across the revenue cycle.
  • Ryan Feldt, former President and Chief Operating Officer of Switch, transitions to Chief Customer Officer of Knowtion, bringing a client-first mindset to strengthen partnerships and elevate experience.
  • Adam Cartabiano, former Commercial Advisor to Switch, joins Knowtion as Chief Growth Officer, responsible for accelerating market expansion, driving customer acquisition, and scaling the goto-market strategy.
  • Switch co-founders Nate Pluke and Melissa Pluke will partner with Ryan Clark to launch our new innovation laboratory, where they will drive expansion of innovation, data analytics, and AI and machine learning capabilities. The innovation lab will harness the power of our data, talent, and expertise to uncover emerging trends, accelerate solution development, and deliver greater impact to providers.

“These leadership additions underscore our commitment to innovation, growth, and delivering unmatched value to our clients,” said Yardley. “Each leader brings exceptional experience in businesstransformation, and we’re excited for what’s ahead.”

“This is more than an acquisition—it’s an acceleration,” Yardley continued. Together, and with the launch of our innovation lab, we are fast-tracking the development of smarter solutions that improve financial performance for healthcare organizations.”

About Knowtion Health:

Knowtion Health is a leading provider of technology-enabled revenue cycle management services serving more than 550 hospitals nationwide and managing over $4.5 billion annually in outstanding balance accounts for clients. Recognized as an Inc. 5000 fastest-growing company, Knowtion Health is a multi-year recipient of the Black Book award, which honors top partners as ranked by healthcare providers. Knowtion Health is a portfolio company of Arsenal Capital Partners, a leading private equity firm specializing in building technology-rich, market-leading healthcare and industrial growth companies, and Sunstone Partners, a premier private equity firm focused on accelerating growth in technologyenabled services and software companies. For more information, visit KnowtionHealth.com

Bridgepoint exits Vermaat, a leading European premium caterer

Bridgepoint
  • Expanded the Dutch model into new markets, notably in France and Germany, which was a key value driver, with over 25% of revenue now generated outside of the Netherlands
  • Revenues more than doubled to c. €700 million under Bridgepoint’s ownership, driven by strong organic growth and strategic acquisitions
  • Launched Join Program, a digital and innovative delivery platform, expanding the addressable market and helping clients meet sustainability goals
  • New owner Compass is exceptionally well placed to scale this strategy further, leveraging its industry scale and global footprint

 

Bridgepoint, one of the world’s leading quoted private asset growth investors, today announced the sale of its majority stake in Vermaat Groep B.V. (“Vermaat” or the “Company”), the Netherlands-based premium catering and hospitality services provider, to Compass Group PLC, a global leader in food services, in a transaction that values the company at c. €1.5bn. The sale is subject to consultation of the Dutch Works Council, approval from relevant regulatory authorities and completion.

Bridgepoint will fully exit its holding, alongside Partners Group (acting on behalf of its clients), which first acquired Vermaat in 2015 and remained a minority shareholder after Bridgepoint’s investment in 2019.

Established in 1978 as a delicatessen shop, Vermaat first partnered with Bridgepoint in 2019, having grown into a clear leader in the Dutch market known for its high-quality, bespoke catering concepts across corporate, leisure, and healthcare locations. Since Bridgepoint’s investment, and despite the significant challenge brought to the industry through Covid, Vermaat has transformed into a clear European leader, doubling its revenue to c.€700 million by year end and serving 700+ locations across multiple sectors.

International expansion has been a core driver of Vermaat’s transformation. Under Bridgepoint’s ownership, the Company brought its proven Dutch model into France and Germany, building scale through selective acquisitions and operational improvements. In France, Vermaat acquired Paris-based premium caterer Serenest and worked with new leadership to strengthen the division’s performance and extend its reach. In Germany, it acquired L&D, giving Vermaat meaningful scale in the market with over €100 million in revenue by 2024. Reflecting this strong growth trajectory and proof of concept under Bridgepoint’s ownership, more than 25% of Vermaat’s revenues are now generated outside its home market.

Vermaat has built an innovative delivery proposition, ‘Join Program’, combining chef-quality food with delivery capabilities. It has fully digitised the offering to provide the next generation of premium catering for customers providing a more flexible solution easily tailored to historically underserved customers such as smaller office sites and SME businesses. Join Program has been commercially successful and reinforces its strategic importance as a scalable, digital revenue stream. Today, Join Program is used by major clients and is being rolled out in France and Germany.

In parallel, Vermaat has professionalised its operations, strengthened its leadership, and invested significantly in digital capabilities. Under Bridgepoint’s ownership, the Company implemented a clear ESG roadmap through its Food Vision 2027 programme, focused on reducing food waste, offering more plant-based options, and using local sourcing and responsible packaging to meet the demands of its pan-European client base.

Olivier van Riet Paap, Partner at Bridgepoint and Head of Benelux, said:

“Vermaat represents everything we look for in a partner – an ambitious team, a strong and distinctive culture, and a relentless focus on quality. This is a world-class business that not only weathered the pandemic but came out stronger – growing internationally into France and Germany, innovating with Join Program, and leading the way in sustainable hospitality. We’re proud of what we’ve built together and look forward to seeing Vermaat continue its journey with Compass.”

Rick Zeelen, CEO of Vermaat, said:

“Bridgepoint has supported us through one of the most challenging and defining periods in Vermaat’s history during Covid. From navigating lockdowns to accelerating our international ambitions, they have been true partners. As we begin our next chapter with Compass, we remain committed to our purpose: creating places where people feel at home and where hospitality is personal.”

Nicolas Petitjean, Managing Director, Co-Head Private Equity Partnership Investments, Partners Group, said:

“Vermaat is a strong example of our transformational investing approach. Since 2015, we’ve supported the Company in scaling operations, driving digital innovation, and advancing sustainability, all while preserving its unique culture. We’re proud to have been part of this journey and thank Rick and the team for their partnership. We wish them continued success with Compass.”

Bridgepoint was advised by Goldman Sachs Bank Europe SE (“Goldman Sachs”) (M&A Advisor), Rothschild & Co (M&A Advisor), Clifford Chance (Legal Advisor) and KPMG (Financial & Tax Advisor). The refinancing completed in parallel was advised by Goldman Sachs, Rabobank and SMBC (joint global coordinators).

Partners Group was advised by Ropes & Gray (Legal Advisor).

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Blackstone Makes a Significant Growth Investment into NetBrain to Rapidly Expand Network Automation and AI Solutions to Global Enterprises at a $750M Valuation

Blackstone

Investment Seeks to Accelerate Adoption of AI in the $30 Billion Networking Operations (NetOps) Solutions Market

New York, NY – July 22, 2025 – Blackstone (NYSE: BX) announced today that Blackstone Growth (BXG) and affiliated funds (collectively “Blackstone”) have entered into a definitive agreement to make a majority growth investment in NetBrain Technologies, a market-leading Network Automation and AI platform. The investment, which values NetBrain at $750 million, is intended to enable the company to accelerate innovation, expand its global footprint, and scale its AI-powered platform to meet the rising demand for intelligent network automation solutions.

NetBrain is the market leader in network automation and AI, powering some of the world’s largest and most complex networks – including those of more than one-third of the Fortune 500. The company pioneered intent-based network automation technology, which creates a digital-twin of the network and enables AI to orchestrate and automate many of the manual tasks in network operations.

As enterprise networks rapidly evolve in size and complexity – particularly with the adoption of cloud and SDN architectures – traditional automation and observability tools are struggling to deliver timely value and measurable ROI. NetBrain’s next-generation automation platform, the result of years of R&D often in close collaboration with the world’s most demanding network operators, eliminates manual dependencies in critical network operations and security workflows. By consistently shifting operational workloads to automation and AI, NetBrain is redefining how hybrid networks are managed. With its industry-leading intent discovery engine, NetBrain transforms network management from a device-centric to an intent-centric model – allowing networks to be governed by self-assessable intents. This advancement enables faster outage resolution, safer change execution, and stronger security – often without human intervention.

“While NetBrain is already the market leader in network automation and AI and continues to grow rapidly, I’m thrilled to partner with Blackstone Growth to accelerate our next phase of expansion,” said Lingping Gao, Founder and CEO of NetBrain Technologies. “Blackstone’s global reach, operational expertise, and deep commitment to innovation will be instrumental in helping us seize this once-in-a-lifetime opportunity to lead the AI transformation of network operations.”

“AI has the power to transform how enterprises manage network operations and security,” said Vishal Amin, Senior Managing Director at Blackstone Growth. “NetBrain is at a pivotal inflection point, with increasing demand for automation across IT, networking, and security teams. Blackstone is excited to help NetBrain expand its global reach while continuing to invest in innovation for customers. Together, we seek to drive the future intersection of network operations (NetOps), security operations (SecOps) and AI, empowering enterprises to achieve total observability and operational excellence.”

Blackstone’s investment in NetBrain reflects its commitment to supporting market-leading and category-defining technology companies that address enterprise challenges. The firm believes NetBrain’s solutions address a critical need in the $30 billion NetOps market, where enterprises face increasing pressure to optimize IT operations, ensure reliability, and mitigate security risks. With no debt, significant cash reserves, ongoing profitability, and a growing global footprint, NetBrain is poised to accelerate its mission of transforming network automation and empowering organizations to thrive in an increasingly interconnected and AI-driven world.

McDermott Will & Emery served as legal counsel to NetBrain. Simpson Thacher & Bartlett LLP served as legal counsel to Blackstone.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our 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.

About NetBrain Technologies
NetBrain, since 2004, has pioneered network automation, empowering IT teams with no-code and AI. Its Next-Gen platform shifts from reactive visibility to proactive observability. Automating troubleshooting and change management, it boosts efficiency, reduces errors, and provides insights. Powered by a Digital Twin and intent-based automation, NetBrain scales automation and simplifies adoption. NetBrain is in use by more than one-third of the Fortune 500. For more information, please visit www.netbrain.com.

Media Contacts

Blackstone
Jennifer Heath
(347) 603-9256
Jennifer.Heath@Blackstone.com

NetBrain Technologies
Ryan Couch
979-220-4586
Ryan.Couch@netbrain.com

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