Category Archives: News

KKR acquires three self-storage properties serving the Atlanta, ST. Petersburg and Washington D.C. markets

KKR

Acquisitions Grow KKR’s Self-Storage Platform to Over 13,500 Units Across the U.S.

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has acquired three Class A self-storage properties in high-growth U.S. markets totaling approximately 2,000 units. The properties were acquired in three separate transactions with different sellers for an aggregate purchase price of approximately $70 million.

The newly acquired properties are located in Atlanta, Georgia, St. Petersburg, Florida and Alexandria, Virginia. Two of the assets were built between 2018 and 2020, while the third was built in 2001. The purchases mark KKR’s first self-storage real estate acquisitions in St. Petersburg and the Washington D.C. metropolitan statistical area (MSA), as well as the latest addition to KKR’s self-storage portfolio serving the Atlanta MSA.

“We are excited to expand our self-storage portfolio with the addition of these three high-quality properties, which deepen our presence in Atlanta and establish new foundations for growth in St. Petersburg and Washington D.C.,” said Ben Brudney, a Director in the Real Estate group at KKR. “We believe the self-storage sector has attractive long-term, through-cycle fundamentals and look forward to growing our footprint further in the space by investing in great properties located in markets with strong demand tailwinds.”

The purchases were made through KKR’s Americas opportunistic equity real estate fund, KKR Real Estate Partners Americas III. The transactions follow KKR’s announcement last year of the launch of Alpha Storage Properties (ASP) to acquire and manage a portfolio of self-storage assets in high-growth markets and strategic infill locations across the country. KKR’s self-storage portfolio currently includes properties serving the Austin, Atlanta, Charlotte, Denver, Inland Empire, Nashville, Orlando, Phoenix, St. Petersburg and Washington D.C. markets.

Since launching a dedicated real estate platform in 2011, KKR has grown real estate assets under management to approximately $41 billion across the U.S., Europe and Asia as of December 31, 2021. The global real estate team consists of over 135 dedicated investment professionals, spanning both the equity and credit businesses.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:

Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

Source: KKR

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Ardian-backed AD Education acquires the European operations of SAE International, a leader in Audiovisual and creative media higher education

Ardian

AD Education, a leading European higher education platform, announces the acquisition of the European operations of SAE International (“SAE Europe”), a leader in Audiovisual and Creative Media higher education, from Navitas. This marks an important milestone as AD Education extends its geographical footprint, notably in the DACH region, and strengthens its position as the largest Creative Arts pure player in Europe.

SAE Europe has developed a strong reputation across the Creative Arts industry and has been widely recognized, particularly in Audio. It has also developed a large footprint across Europe, with 22 campuses in Germany, Switzerland, Austria, the UK, France, Italy, Spain, Greece, Belgium and the Netherlands. SAE Europe delivers accredited Certificates, Diplomas, Bachelor and Master’s degrees in Audio, Video games, Filmmaking, and Website development to 4,000+ students and generates over €50 million of revenues.

Following the recent acquisitions of Barreira Arte y Diseño in 2020, a Design & Graphical Arts leading school in Spain, and IMAAT in 2021, a French specialist in Audiovisual, the acquisition of SAE Europe is a landmark transaction enabling AD Education to consolidate its strong position in Europe with a presence in 6 new countries while expanding its courses offering in Audiovisual.

Together, AD Education and SAE Europe will capitalize on their leading positions in their respective markets in order to roll out both AD Education and SAE programs in countries, schools and campuses where such programs are not yet in place. This will allow to reinforce the offering of the group, further enriching their educational content to the benefit of the students. Both companies actually share common DNA and visions, with their main focus being the students’ fulfilment and their employability in a growing Creative Arts job market.

Founded in 2009, AD Education is a leading European higher education platform, pure player in the field of Creative Arts and teaching to more than 18,000 students in 14 schools on 44 campuses in France, Italy, Spain and Germany. AD Education covers 4 main sub-segments: Design & Graphical Arts, Media & Digital, Audiovisual and Culture & Luxury.

“We are excited to welcome the SAE Europe family to the Group. We share common values, dedicating time and energy to the development of academic programs and accompanying students towards their professional lives. We strongly believe that this combination will be mutually beneficial to both companies and we look forward to working with SAE Management team and employees to make SAE brand thrive.” KEVIN GUENEGAN, CHAIRMAN OF THE AD EDUCATION GROUP

“We are very proud to accompany AD Education, Kevin Guenegan and the management team in this major acquisition which is a key milestone in the acceleration of the internationalization and development of the group. The partnership with SAE Europe will support AD Education’s strong growth in Europe and further improve value proposition for the combined Group’s students.“ EMMANUEL MIQUEL, MANAGING DIRECTOR IN THE BUYOUT TEAM AT ARDIAN

The joint company will teach to more than 22,000 students in 10 countries in Europe with combined revenues close to €200 million.

The transaction remains subject to antitrust approval.

PARTIES TO THE TRANSACTION

  • AD EDUCATION

    • KEVIN GUENEGAN, MARTIN CORIAT, BENOIT WECKX

  • ARDIAN

    • EMMANUEL MIQUEL, NICOLAS TRANI, JEAN-BAPTISTE HUNAUT, ANOUK DAOUDAL

  • LEGAL ADVISORS

    • CORPORATE ADVISOR: WILLKIE FARR & GALLAGHER (EDUARDO FERNANDEZ, PHILIP COLETTO, WILLIAM BUCHANAN, GIL KIENER, SARAH BIBAS)
    • FINANCING ADVISORS: LATHAM & WATKINS (XAVIER FARDE, CARLA-SOPHIE IMPERADEIRO)
    • STRUCTURING ADVISORS: LATHAM & WATKINS (OLIVIA RAUCH-RAVISÉ, CLÉMENCE MOREL) AND KPMG AVOCATS (SOPHIE FOURNIER-DEDOYARD, GAUTHIER MOULINS)

  • BUYER DUE DILIGENCE

    • COMMERCIAL DUE DILIGENCE: BCG (BENJAMIN ENTRAYGUES, GUILLAUME DARRIEUS, CONSTANT MOREZ, JEAN-BAPTISTE POIRET)
    • FINANCIAL DUE DILIGENCE: KPMG (GUILHEM MAGUIN, CHARLES LAPORTE, LAUREN GOODENOUGH)
    • CARVE-OUT DUE DILIGENCE: KPMG (ANTOINE VIRY, JOSSELIN DU PLESSIS)
    • LEGAL DUE DILIGENCE: KPMG AVOCATS (BENOIT ROUCHER, JULIE BRUBACH)
    • TAX DUE DILIGENCE: KPMG AVOCATS (SOPHIE FOURNIER-DEDOYARD, GAUTHIER MOULINS)
    • LABOR DUE DILIGENCE: KPMG AVOCATS (OLIVIER MASI, CHRISTINE PIAULT)

ABOUT AD EDUCATION

Founded in 2009, AD Education is a leading European higher education platform, pure player in the field of Creative Arts and teaching to more than 18,000 students in 14 schools on 44 campuses in France, Italy, Spain and Germany. AD Education covers 4 main sub-segments: Design & Graphical Arts, Media & Digital, Audiovisual and Culture & Luxury. Following the acquisition, AD Education will operate in 10 countries in Europe with a turnover close to €200 million.

https://www.ad-education.com

ABOUT SAE

SAE Creative Media Institute is the place for creatives and innovators. Since 1976 we’ve been the leaders in creative media education across animation, audio, creative industries, creative technologies, design, film, games, and music. Every year, we support more than 10,000 students globally to develop the skills and experience needed to carve successful careers. Students enjoy access to the latest technology and are taught by industry-experienced faculty, while putting their skills to the test in small class environments. Our graduates become part of a highly-respected global community of creatives that’s been around for over 40 years. We pride ourselves on being technically explorative, transformative and brave through our range of creative media programs, from short courses and professional training through to bachelor and postgraduate degrees. In Australia, our programs are delivered at campuses in Sydney, Brisbane, Byron Bay, Melbourne, Perth and Adelaide. SAE is a part of Navitas Pty Ltd.

https://www.sae.edu

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$125bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 850 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

https://www.ardian.com/

MEDIA CONTACTS

ARDIAN

HEADLAND ELLEN JOHNSON

ejohnson@headlandconsultancy.com+44 207 3435 7469

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Baird Capital Exits Portfolio Company Nigel Wright Group

Baird Capital
Baird Capital’s Private Equity team recently announced that portfolio company Nigel Wright Group has refinanced the business and purchased all outstanding equity from their two institutional shareholders (Baird Capital and Beechbrook Capital). This move completes the full exit for Baird Capital following the MBO initiated in October 2020.Nigel Wright has operated for over 30 years from its headquarters in Newcastle upon Tyne where it remains the leading and largest specialist recruitment firm in the North of England. It has expanded across Europe to become Europe’s number one consumer sector search specialist. Baird Capital initially invested in Nigel Wright in 2010.

“It was a pleasure to partner with Nigel Wright over the last 10 years, and we wish Paul Wilson and his talented team of executive directors great success,” said Dennis Hall, Partner and Head of Portfolio Management with Baird Capital. “This exit marks a new chapter for the firm, and we look forward to seeing what they do next.”

Learn more here.

Baird Capital Partners Europe Limited is authorised and regulated by the Financial Conduct Authority.

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The Hg Foundation forms a €750,000 partnership with The Technical University of Munich (TUM)

HG Capital

The programme will support mathematics, IT, natural sciences & technology (MINT) education for young women through tailored courses at rural Bavarian schools.

  • The MINT-Impulse project aims to reach 600 girls & young women per year at select schools from rural areas across Bavaria, focused on those facing barriers to access extracurricular programmes.
  • Female TUM instructors will work on modern research projects, side-by-side with the participants for one school day, offering hands-on exposure to the research field whilst also providing much needed role models.
  • The project offers participants a protected space to gain personal experience in natural sciences and technology, helping to boost self-confidence in their MINT abilities.
  • The Hg Foundation will support MINT-Impulse an der Schule for an initial 3-year period worth €750,000, and will be accompanied by a longitudinal study to trace long-term benefits of the programme.

The Technical University of Munich (“TUM”) today announces that it has formed a €750,000 partnership with The Hg Foundation, a grant-giving charity with a defined focus on education and technology.

Despite the propagation of equal opportunity in Germany, many professional fields in mathematics, natural sciences, IT and technology are still regarded as male domains. The effects of gender stereotyping remain strong and young women who decide against role-conforming occupations need support. Many still have little opportunity to gain regular practical experience in MINT subjects outside traditional school lessons and this lack of exposure can lead to a low MINT self-concept. In 2019, 48% of all pupils graduating from secondary school in Germany were female. In the same year, however, only 21% of all young people who chose a career with a focus on MINT subjects were women. TUM sees positive personal experience in working with MINT topics can counteract this issue, yet only a few such programmes exist.

The partnership between TUM and The Hg Foundation will support MINT-Impulse an der Schule – a mobile programme tailored specifically for girls in grades 9 and 10 (between ages 14 and 16 years old). MINT-Impulse projects focus on practical learning and will take place at various schools across Bavaria that face barriers accessing extracurricular programmes, either due to lack of resource, or simply because they are in more remote, rural locations. Female TUM instructors who are active in current research projects at TUM will travel to their students providing project work, side-by-side for one school day, offering them hands-on exposure to the research field, whilst also providing role models for participants. Equipped with first project knowledge from an online meeting before the on-site meeting, the girls will meet their instructors at their school and work in small groups on their projects. The programme is completed by an online-follow-up.

The Hg Foundation was formed in 2020 with the goal to make an impact on the development of skills most required for employment within the technology industry, focusing on individuals who may otherwise experience barriers to access. The Hg Foundation is backed by Hg, a leading software and services investor.

Grant funding from The Hg Foundation will enable more staff to be hired exclusively for the MINT-Impulse programme. It will also fund the expansion and development of new courses, source better material resources and enable gender-sensitive seminars for educators. The support will also commission an evaluation programme and scientific longitudinal panel study to determine the long-term effect of the programme. This research will inform the international student lab community and provide evidence needed to support further work in this field.

Christine Hager, Team leader at ExploreTUM, said: “Science and technology – that’s not for girls!” Unfortunately, you still hear such sentences. With our programme, we want to counteract this persistent stereotype. And the first test runs at the schools show: The mix of exciting project topics, hands-on exposure and authentic role-models works! After the project day many girls are enthusiastic – about the topics, the female TUM instructors and especially about their own abilities in this environment. We are excited to partner with The Hg Foundation, who shares our vision and who have been very entrepreneurial and pragmatic in their support. Their help will not only support the programme itself but also further important research on the impact and success factors.”

Cornelius Becker, Trustee at The Hg Foundation, added: “Across many of The Hg Foundation’s partnerships we have been strong believers in the effectiveness of in-person mentoring and role-models. We are delighted to be supporting a programme that uses these tools to empower young women to take a conscious decision about furthering interest and skills in MINT subjects. TUM is one of the world’s leading technical research universities and they have put forward some truly inspiring female instructors for the programme. We look forward to seeing what we can achieve together.”

The Technical University of Munich (TUM)

The Technical University of Munich (TUM) is one of Europe’s top universities. It is committed to excellence in research and teaching, interdisciplinary education and the active promotion of promising young scientists. Its unique range of disciplines includes engineering, natural sciences, life sciences, medicine, political and social sciences as well as management. The university forges strong links with companies and scientific institutions across the world, and is represented internationally with locations on several continents, among them the first German academic venture abroad, TUM Asia. Its main campuses span several large sites in Bavaria and southern Germany, which are also home to the TUM Schools and Departments. TUM was also one of the first universities in Germany to be named a University of Excellence, regularly ranks among the best European universities in international rankings and is one of the most renowned technical universities worldwide.

TUM Entdeckerinnen

“TUM Entdeckerinnen” (TUM Female Explorers), a programme of the Technical University of Munich (TUM) tailored specifically to support girls in the mathematics, information technology, natural sciences and technology (STEM) subjects. Department chairs at TUM prepare compelling and up-to-date research topics within the STEM subjects as project courses for girls in grades 9 and 10 between the ages of 14 and 16 (one day as an on-site course, plus preparation and follow-up). For more information visit:  https://www.explore.tum.de/en/explore/mintimpulse/

About The Hg Foundation:

The Hg Foundation is a grant-giving charity with a defined focus on education and technology. Our goal is to support those who may otherwise experience barriers to access, with the acquisition of skills that are often required for employment within the technology industry. We aim to achieve this by providing funding and operational support to charitable schemes and partnerships across the UK, USA and Europe where we can demonstrate measurable, long-term and scalable impact and make a difference to those that need it most.

These partnerships include Sponsors for Educational Opportunity’s SEO Tech Developer programme in the USA; a partnership with Imperial College London providing a variety of interventions for Further Maths A-Level students; upReach’s Tech500 programme which looks to support 500 undergraduates from disadvantaged backgrounds who are looking to secure graduate roles in the technology sector; Generation France’s new tech-focused partnership, supporting unemployed and underemployed individuals into life‑changing tech careers in France; and The Tutor Trust, which is testing a pilot hybrid online /offline tutoring scheme to support interventions under the UK’s National Tutoring Programme. The Hg Foundation is registered Charity no. 1189216.

For more information, please visit the website at www.thehgfoundation.com.

Categories: News

Onex Partners to Invest in Analytic Partners

Onex

Toronto, ON, New York, NY, February 8, 2022 – Onex Corporation (“Onex”) (TSX: ONEX)
today announced that Onex Partners V, Onex’ $7.2 billion fund, has agreed to make a significant
investment in Analytic Partners, Inc. (“Analytic Partners” or the “company”) in partnership with
the company’s founder.

Analytic Partners is a leading cloud-based, managed software platform which helps global F1000
customers assess marketing spend effectiveness and optimize future allocations across offline and
online media channels. Founded in 2000 and headquartered in Miami, Florida, Analytic Partners
deploys its solutions, supported by a proprietary longitudinal dataset, across 55 countries with
approximately 270 employees throughout 14 offices globally. In The Forrester Wave™:
Marketing Measurement and Optimization Q1 2022 report, Analytic Partners was named a Leader
and was top ranked in the Strategy category among all evaluated vendors.

“We are delighted to add the intellectual and financial firepower of Onex Partners to Analytic
Partners to further accelerate our growth,” said Nancy Smith, Founder, President and CEO of
Analytic Partners. “Our partnership with Onex Partners aligns perfectly with our core values of
People, Passion and Growth. Through our employee equity plan I am proud to announce that
every member of our team will benefit from this investment. Our customers, who are the
motivation for our Passion, will also benefit greatly as our partnership with Onex Partners will
further accelerate our technology leadership, drive more innovation, and help us deliver the
solutions our clients need to Adapt, Evolve and Thrive in a rapidly changing marketing landscape.
This is a true win/win/win for our customers, our team and our partners.”
“We feel incredibly privileged that Nancy has chosen us as her partner to continue building
Analytic Partners. The company’s GPS Enterprise managed software solution, supported by its
proprietary ROI Genome dataset and analytical capabilities, have allowed Analytic Partners to
provide a compelling value proposition to its customers and we expect this to continue,” said Kosty

Gilis, a Managing Director at Onex Partners. “We are extremely enthusiastic about the company’s
prospects as the need to accurately assess the effectiveness of marketing campaigns will continue
to grow which, combined with the opportunity to further leverage Analytic Partners’ capabilities
across a wider range of end markets and geographies, presents a compelling value creation
opportunity over the coming years.”
The transaction is anticipated to close later this year subject to customary closing conditions. The
terms of the transaction are not being disclosed at this time.

On this transaction, Goldman Sachs & Co. LLC acted as exclusive financial advisor and Willkie
Farr & Gallagher LLP acted as legal counsel to Analytic Partners. Latham & Watkins LLP acted
as legal counsel to Onex Partners.

About Onex
Founded in 1984, Onex manages and invests capital on behalf of its shareholders, institutional
investors and high net worth clients from around the world. Onex’ platforms include: Onex
Partners, private equity funds focused on mid- to large-cap opportunities in North America and
Western Europe; ONCAP, private equity funds focused on middle market and smaller
opportunities in North America; Onex Credit, which manages primarily non-investment grade debt
through tradeable, private and opportunistic credit strategies as well as actively managed public
equity and public credit funds; and Gluskin Sheff’s wealth management services. In total, as of
September 30, 2021, Onex has approximately $47 billion of assets under management, of which
approximately $7.9 billion is its own investing capital. With offices in Toronto, New York, New
Jersey, Boston and London, Onex and its experienced management teams are collectively the
largest investors across Onex’ platforms.
Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more
information on Onex, visit its website at www.onex.com. Onex’ security filings can also be
accessed at www.sedar.com.

About Analytic Partners
Analytic Partners is the leading cloud-based, managed software platform which provides adaptive
solutions for deeper business understanding and right-time planning & optimization for marketing
and beyond. We turn data into expertise so that our clients can create powerful connections with
their customers and achieve commercial success. For more information on Analytic Partners, visit
its website at www.analyticpartners.com.

Forward-Looking Statements
This press release may contain, without limitation, statements concerning possible or assumed
future operations, performance or results preceded by, followed by or that include words such as
“believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of
similar connotation, which would constitute forward-looking statements. Forward-looking
statements are not guarantees. The reader should not place undue reliance on forward-looking
statements and information because they involve significant and diverse risks and uncertainties
that may cause actual operations, performance or results to be materially different from those
indicated in these forward-looking statements. Except as may be required by Canadian securities
law, Onex is under no obligation to update any forward-looking statements contained herein
should material facts change due to new information, future events or other factors. These
cautionary statements expressly qualify all forward-looking statements in this press release.

For Further Information:
Onex
Jill Homenuk
Managing Director – Shareholder Relations
and Communications
+1 416.362.7711
Analytic Partners
Kendall Allen Rockwell
WIT Strategy
kallen@witstrategy.com

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Biolam, the French group of medical laboratories, accelerates

GIMV

Daniel Attias and Gimv continue their organic and external growth strategy in Hauts-de-France and Normandy, enabling Biolam – a group of medical laboratories – to exceed EUR 60 million in turnover (pro forma of the latest acquisitions).

Starting from scratch in 2019, Daniel Attias was supported by Gimv in his first MBI takeover of the Biolam group of laboratories in Amiens. Didier Thibaud joined in 2020 to strengthen the Biolam presence in Normandy. Today, this duo is pursuing an accelerated growth strategy. After four acquisitions and four laboratory creations in 2020, Biolam (www.groupebiolam.fr ) realised three new acquisitions over 2021. The group has consolidated its position in Normandy with the acquisition of Boyer Laboratories, contributing approximately EUR 8 million in additional turnover. In the Hauts-de-France region, Biolam acquired the Mine laboratories in the Valencienne region, where it began its growth by opening two laboratories (Marly and La Madeleine), as well as the acquisition of the Tabardel and Viart laboratory in Béthune.

In 2022, Biolam intends to continue its organic growth with the opening of 6 new laboratories, several acquisitions under negotiation and significant investments in the renewal of its industrial equipment, in Normandy as well as in the Hauts-de-France.

The success of this buy-and-build platform demonstrates once again that the Gimv Health & Care team, together with ambitious management teams, is expert in consolidation projects in Europe.

Gautier Lefebvre, Partner at Gimv, and Kevin Klein, Principal at Gimv, state: “We are impressed by the trajectory of Biolam, which, under the leadership of Daniel Attias and Didier Thibaud, continues to grow extremely fast while investing heavily in its teams and tools in order to build a high quality healthcare offering. This entrepreneurial adventure is a perfect illustration of our ability to support managers in rapid external growth strategies. Over the past two years, Gimv’s Health & Care team has completed 32 acquisitions via 6 build-up platforms.”

Daniel Attias, Chairman of the Biolam Group, says: “We have already exceeded the targets we initially set ourselves with the Gimv team, which is a sign of a very effective collaboration. We start 2022 with great ambitions in a sanitary context where our willingness to invest, our agility and the total engagement of our teams are more necessary than ever.”

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EQT Private Equity and Verdane to sell Forsta to Press Ganey

eqt
  • EQT Private Equity and Verdane to sell Forsta, an industry-leading global provider of customer experience and market research technology, to Press Ganey
  • Forsta was formed through the merger of Confirmit and FocusVision in March 2021, creating a full-service provider of qualitative and quantitative customer experience solutions
  • Under Verdane and EQT Private Equity’s ownership, Forsta has been transformed into a scaled technology platform serving over 5,000 customers in more than 100 countries around the world

EQT and Verdane are pleased to announce that the EQT Mid Market US fund (“EQT Private Equity”), together with the Verdane Capital IX fund (“Verdane”) have agreed to sell Forsta (the “Company”) to Press Ganey, a leader in patient, member, employee and consumer experience across the healthcare ecosystem.

Headquartered in London, U.K., Forsta is a leading provider of customer experience and market research software and services to enterprise customers and market research professionals. Forsta provides solutions in Quantitative (including Surveys & Reporting), Qualitative (including Digital Qual & Live Video, Video Insights), and Voice of the Customer / Voice of the Employee segments, to help deliver intelligence with clarity, confidence, and impact.

The company now known as Forsta was born in 2021 out of a shared thesis at EQT and Verdane of creating an integrated quantitative and qualitative offering for market research agencies and corporate customers. The move was achieved by combining Verdane-owned Confirmit, which Verdane merged with its portfolio company Dapresy in 2020, with FocusVision, acquired by EQT Private Equity in 2015.

The combination doubled the size of the business to create scale for increased investment in product development and go-to-market, while further shifting the business mix towards software. The combined company was subsequently rebranded as “Forsta” to unify the brand strategy and create an integrated go-to-market approach, focused on delivering holistic human insights.

Hajo Krösche, Managing Director within EQT Private Equity’s Advisory Team, said, “Our investments in Forsta’s digital backbone and people have resulted in a compelling technology offering and a track record in human experience solutions, which will serve as invaluable assets to the combined platform going forward. We are excited to have found a long-term home for Forsta in Press Ganey, a company and team with whom we have had a strong relationship for many years.”

Pål Malmros, Partner at Verdane, said, “Forsta will now make the next generation of patient and customer experience better and truly human-focused through its world-leading customer experience and market research technology, allowing Press Ganey to make a quantum leap in its ‘experience of care’ technology solution. Press Ganey’s relationship to Forsta dates back to the Confirmit years, and this event marks the culmination of a growth journey the Verdane team originally set out on in 2017 through our investment in Dapresy. We want to thank the Forsta and EQT teams for an excellent partnership that we now look forward to continuing with Press Ganey.”

Kyle Ferguson, CEO of Forsta, said, “With the critical support of EQT and Verdane, we have created and scaled a comprehensive platform for human experience insights. We look forward to partnering with Press Ganey and to leveraging our world class technology and expertise to accelerate growth across the combined business.”

The transaction is subject to customary conditions and approvals, and is expected to close in H1 2022.

Jefferies acted as financial advisor and Sidley Austin LLP acted as legal advisor to Verdane, EQT Private Equity and Forsta.

Contact for EQT
US media inquiries: mathilde.milch@eqtpartners.com, +1 (917) 510-6626
European media inquiries: press@eqtpartners.com, +46 8 506 55 334

Contact for Verdane
Verdane press office: press@verdane.com, +46 76 27 28 100

About EQT
EQT is a purpose-driven global investment organization with more than EUR 73.4 billion in assets under management across 28 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Verdane
Verdane is a specialist growth equity investment firm that partners with tech-enabled and sustainable European businesses to help them reach the next stage of international growth. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy behind three core themes; the Digital Consumer, Software Everywhere and Sustainable Society. Verdane funds hold €3.6bn in total commitments and have made over 135 investments in fast-growing businesses since 2003. Verdane’s team of 100 investment professionals and operating experts, based out of Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.

More info: www.verdane.com
Follow Verdane on LinkedIn

About Forsta
Forsta is an Experience and Research Technology Platform that gathers and analyzes data, and translates the findings into shareable actions to inform decision making and drive growth. Forsta’s technology is designed to discover, analyze and share smart insights packed with real action potential, and help organizations better understand the full Human Experiences of their audiences.

More info: www.forsta.com

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Livspace turns Unicorn with USD $180 million series F round led by KKR

KKR

SINGAPORE & BENGALURU, India–(BUSINESS WIRE)– Livspace (the “Company”), one of Asia’s largest omni-channel home interior and renovation platforms, and KKR, a global investment firm, today announced a US$180 million Series F fundraising in which KKR will participate as the lead investor. The Series F round also witnessed participation from existing investors such as Ingka Group Investments (part of largest IKEA retailer Ingka Group), Jungle Ventures, Venturi Partners, and Peugeot Investments, among others.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220207005993/en/

Anuj Srivastava, Co-Founder and CEO of Livspace, said, “We are honored to collaborate with KKR in our next phase of growth and for the trust expressed by our existing shareholders. Their deep understanding of global markets, strong brand name and proven expertise in partnering with new age digital brands will help us scale our business 10x in the coming duration. Our business is growing exponentially in both India and Singapore and we aim to replicate this playbook, launch new solutions and accelerate our launches across new markets with operations across APAC, MENA and Australia.”

Ramakant Sharma, Co-Founder and COO of Livspace, added, “As the largest player in this industry, we look to expand our spectrum of new offerings for the homeowner, create the best technology for our marketplace partners and deliver dream homes to our customers across all geographies. With the fresh investments, we are well set up to launch new solutions for homeowners and become the go-to platform brand for all things home.”

To support its ambitious expansion plans, Livspace will launch in new markets, double down on brand building in India and Singapore, and continue investing in its pioneering platform technology and digitally integrated supply chain; and hire, develop and nurture talent across the board to support both new and existing businesses. The funds will also be channeled towards strategic investments into innovative companies to help them scale and grow even faster. The Company recently acquired a majority stake in Qanvast, a Singapore-based home remodeling and design platform connecting homeowners and trusted home professionals.

Gaurav Trehan, Partner and CEO of KKR India, said, “We are pleased to invest in Livspace, a unique, tech-enabled business with terrific growth potential. Our investment in Livspace extends KKR’s long-term commitment to Indian consumers made through our growth technology strategy in India. Anuj and Ramakant have been leaders in evolving the home renovation industry, and KKR looks to draw on our deep technological and operational expertise, as well as our regional and global network, to support Livspace’s continued growth.”

Louis Casey, KKR’s growth technology lead in Southeast Asia, added, “Livspace is solving a complicated, multi-stakeholder problem which requires a mix of sophisticated software applications, strong execution capability, and a consumer-centric approach. We believe that over time, this combination of competencies will build a strong competitive advantage that will see Livspace extend its leadership position, enter new markets and broaden its offerings. We are excited to work together with Anuj, Ramakant, and the Livspace team on this journey.”

KKR is making the investment in Livspace from its Asia next generation technology strategy. Livspace is KKR’s latest growth technology investment in Asia and adds to other recent investments in the region including Lenskart, an omni-channel eyewear retailer in India, moody, a tech-enabled eyewear company in China, Adopt A Cow, a digitalized, direct-to-consumer dairy company in China, GrowSari, an e-commerce platform serving micro, small and medium-sized enterprises (MSMEs) in the Philippines, and KiotViet, a merchant platform for MSMEs in Vietnam. Additional details of the transaction are not disclosed.

Founded by Anuj Srivastava and Ramakant Sharma in 2015, Livspace has become synonymous with end-to-end seamless home interiors and renovation services. Through its pioneering technology platform, one of the largest digitally integrated supply chains in the home improvement industry and a unique three-sided marketplace-based approach, the Company has created a strong value chain helping homeowners, vendors and designers.

About Livspace

Livspace is one of Asia’s largest and fastest-growing omni-channel home interiors and renovation platform. Using its proprietary technology, Livspace provides a one-stop renovation solution for homeowners—from design to managed last mile fulfillment for all rooms in a home. The platform has organized a fragmented industry, bringing together designers, brands, manufacturers and contractors to enable an eCommerce-like trusted and predictable experience. Livspace currently serves Singapore and Malaysia, as well as 30 metro and non-metro areas in India. Livspace has showcased phenomenal growth since its launch, having delivered over 100,000 rooms and selling over 7.5 million SKUs through its platform. The company has raised around USD 450 million in capital from some of the top global investors including KKR, Ingka Group Investments (part of largest IKEA retailer Ingka Group), TPG Growth, Goldman Sachs, Kharis Capital, Venturi Partners, FFP (Peugeot Group’s Holding Company), EDBI, Bessemer Venture Partners, Jungle Ventures, Helion Ventures and UC-RNT.

For more information, please visit: www.livspace.com

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries.

For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

For Livspace:
Nafeesa Tasneem | nafeesa.tasneem@livspace.com | +91 8588835054

For KKR:
Wei Jun Ong | WeiJun.Ong@kkr.com | +65 6922 5813

Source: KKR

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RES to receive new investment from Onex Partners and continued investment from KKR

KKR

Significant Investment to Fuel Next Phase of Growth as RES Achieves National Scale, Targets Growing Infrastructure and Resiliency Drivers

HOUSTON & TORONTO–(BUSINESS WIRE)–Resource Environmental Solutions, LLC (“RES” or “the company”), the nation’s largest ecological restoration company, today announced that Onex Partners V, Onex Corporation’s (“Onex”)(TSX:ONEX) $7.2 billion fund, has agreed to make a significant investment in RES, together with funds affiliated with the company’s existing investor, KKR. This investment, made in partnership with management, is in support of RES’ continued growth and development.

RES’ mission is to restore a resilient earth for a modern world, project by project. The company supports the public and private sectors with solutions for environmental mitigation, stormwater, water quality, and climate and flooding resilience. RES delivers durable ecological uplift on its sites, based on science-led design, full delivery, long-term stewardship, and guaranteed performance.

“We could not be more excited to have these two firms backing us,” said Darrell Whitley, RES President and CEO. “In our first 14 years, we’ve proven that ecological restoration can be trusted to improve and preserve the environment in balance with human progress. Today, RES is the environmental employer of choice. With the backing of Onex Partners and KKR, we will continue to invest in talent and capabilities, and grow into new markets and new communities. Our access to additional investment capital will also help us to continue with product line expansion into coastal resiliency, large scale water quality projects, new mitigation banks, and carbon solutions,” Whitley continued.

Amir Motamedi, a Managing Director of Onex Partners, said: “RES is the nation’s leading provider of nature-based solutions and green infrastructure thanks to the contributions of every team member at the company. With its strong culture and can-do spirit, we’re confident RES will continue its growth trajectory both organically and through acquisitions. We are delighted to be partnered with Darrell, the entire RES team and KKR during this next chapter.”

Robert Antablin and Ken Mehlman, Co-Heads of KKR Global Impact, added: “We are thrilled to continue our relationship with RES and support them, alongside Onex Partners, on their mission to help communities navigate the impacts of climate change. While we have made great progress since KKR’s initial investment in helping to establish RES as an industry leader while growing the company’s operations, capabilities and team, we are looking forward to even more growth ahead.”

Elliott Bouillion, Founder and Executive Chairman, concluded, “I am thrilled to see RES continue its journey and mission to restore a resilient earth for our modern world. I believe that Onex Partners and KKR will be formidable partners and dedicated stewards of our business during the next phase of ownership. I look forward to working closely with Onex Partners, KKR, Darrell and the rest of the RES management team as we aim to take RES to the next level and drive even more growth and transformation in the years ahead.”

The transaction is anticipated to close in the first quarter subject to customary conditions and regulatory approvals. Financial details for the transaction are not being disclosed at this time.

About RES

RES (Resource Environmental Solutions) is restoring a resilient earth for a modern world, project by project. As the nation’s largest ecological restoration company, RES provides environmental mitigation, stormwater and water quality, and climate and flooding resilience solutions with a focus on full delivery, long-term stewardship and guaranteed performance. RES designs, builds, and sustains sites that preserve the environmental balance, restoring our land and waters to enhance lives for generations to come.

For more information, visit www.res.us.

About Onex

Founded in 1984, Onex manages and invests capital on behalf of its shareholders, institutional investors and high net worth clients from around the world. Onex’ platforms include: Onex Partners, private equity funds focused on mid- to large-cap opportunities in North America and Western Europe; ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through tradeable, private and opportunistic credit strategies as well as actively managed public equity and public credit funds; and Gluskin Sheff’s wealth management services. In total, as of September 30, 2021, Onex has approximately $47 billion of assets under management, of which approximately $7.9 billion is its own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.

Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Contacts

RES
Gaye Denley
Director, Marketing
gdenley@res.us
+1.303.815.5211

Patrick Ryan
VP, Corporate Development
pryan@res.us
+1.713.325.7213

Onex
Jill Homenuk
Managing Director – Shareholder Relations and Communications
jhomenuk@onex.com
+1.416.362.7711

KKR
Cara Major or Julia Kosygina
Media@kkr.com
+1.212.750.8300

Categories: News

Reliance Health raises $40M in Series B led by General Atlantic

Growth investment will fuel continued growth in Nigeria, expansion into additional emerging markets, and allow for the scaling of product lines such as diaspora plans.

February 7, 2022

Reliance Health, an emerging markets-focused digital healthcare provider, today announced the completion of a $40M Series B funding round led by General Atlantic, a leading global growth equity investor, with participation from Partech, Picus Capital, Tencent Exploration, AAIC (Asia Africa Investment and Consulting), P1 Ventures, Laerdal Million Lives Fund, M3, Inc., and Arvantis Social Foundation. With this funding, Reliance Health has successfully closed the largest Series B round in the African HealthTech industry to date. The newly-established partnership also marks General Atlantic’s first technology investment in Africa. To date, Reliance Health has raised $48M in total funding, including a $6M Series A funding round in January 2020 led by Partech, with participation from Y Combinator, LoftyInc Capital, Golden Palm Investments, Ventures Platform, and Picus Capital.

Reliance Health uses technology to bring more affordable and accessible healthcare to leading companies in emerging markets including Biersdorf Nivea, Jumia, PWC, Merrybet, Regus, and others. Reliance has averaged 3.5x YOY revenue growth and offers an integrated approach that includes flat fee healthcare plans, telemedicine, prescription delivery, and a combination of partner and proprietary healthcare facilities in one single platform with one single fee. Headquartered in Lagos, Nigeria and Austin, Texas, Reliance Health began operations in Nigeria in 2015 as a telemedicine-focused startup, Kangpe, founded by Femi Kuti, Opeyemi Olumekun, and Matthew Mayaki, and later expanded into a single-fee healthcare provider to better address the complex, evolving needs of patients.

This new Series B investment will accelerate Reliance Health’s efforts in expanding the platform in emerging markets around the world while adding new products that complement existing proprietary technology, facilities, and partnerships. Reliance will also leverage the funds to hire additional top talent.

“Healthcare in emerging markets is often overlooked by private initiatives because it’s an extremely complex challenge to solve. At Reliance Health, by leveraging new innovations to break the constraints of legacy solutions, we believe there is an opportunity to solve some of these tough problems and even for aspects of healthcare in emerging markets to leapfrog to other parts of the world. We are excited to work with our investors towards bringing affordability and accessibility in healthcare to underserved markets, ultimately saving lives around the world,” said Femi Kuti, Reliance Health CEO and Co-Founder.

“General Atlantic is thrilled to announce our first technology investment in Africa in Reliance Health, backing a team focused on improving healthcare quality for millions of patients in Nigeria and abroad,” said Chris Caulkin, Head of EMEA Technology and Managing Director at General Atlantic. “We have been consistently impressed by Femi and Ope, who exemplify the entrepreneurialism and innovation we see across the African continent. We look forward to sharing our experience as a leading global growth equity investor in support of Reliance Health’s exciting and important mission.”

“We led Reliance Health’s Series A because we saw a team that combines great vision with superb execution. They have proven this by delivering a product that is successful with large corporate as well as micro-businesses, opening up access to healthcare for underserved segments of the population. All of the Partech team feels proud and excited to see top global investors join the company as it scales in Nigeria as well as new markets,” said Tidjane Dème, General Partner at Partech.

“Financial barriers prevent millions of people from receiving the life-saving and life-improving care that they need in low- and middle-income countries. Ensuring equitable access to healthcare coverage is something we care deeply about as mission-driven healthcare investors, and we’re honored to partner with Femi Kuti and the entire Reliance Health team to help scale their offering to achieve the largest potential impact,” said Jeff Trost, Managing Partner at Laerdal Million Lives Fund.

About Reliance Health

Reliance Health is a healthcare company using technology to make healthcare more affordable and accessible. Using an integrated approach that includes affordable health insurance, telemedicine, and a combination of partner and proprietary healthcare facilities. In its five years, Reliance has impacted over 200,000 lives, 600 companies, and has risen to become one of the leading digital health providers in emerging markets. The company employs over 230 “Rhomans”, has been recognized on “Jobberman’s 2019 Top 100 Companies in Nigeria” list, and was shortlisted on Techpoint Africa’s “Most Outstanding HealthTech Startup 2021” list.

For more information, please visit www.getreliancehealth.com

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About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, 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 great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $86 billion in assets under management inclusive of all products as of September 30, 2021, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore, and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

About Partech

Born in San Francisco and Paris, Partech is one of the most active tech investors in the world, bringing together capital, operational experience, and strategic support for entrepreneurs at seed, venture and growth stages. The current portfolio includes 200+ companies in more than 30 countries, of which 14 are valued at more than $1B.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlanticmedia@generalatlantic.com

Reliance Healthmedia@getreliancehealth.com

Isabelle Tresson
Partech+ 33 7 86 08 85 85itresson@partechpartners.com

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