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Apollo Infrastructure Funds Announce Structured Equity Investment in Intermodal Tank Transport

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Apollo

NEW YORK, June 13, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that funds managed by Apollo affiliates (the “Apollo Funds”) have agreed to make a structured equity investment in Intermodal Tank Transport (“ITT” or the “Company”), a leading global provider of ISO tank transportation logistics and depot services for bulk-liquid chemical and food-grade products. ITT will continue to be led by President and Chief Executive Officer Jon Hulsey and the existing management team. Financial terms were not disclosed.

Founded in 1993, Intermodal Tank Transport is a recognized leader in ISO tank container transportation and logistics, serving hundreds of customers via its leading tank fleet and depot locations. ITT serves an essential role in the transportation value chain, arranging end-to-end logistics of bulk liquids for blue-chip customers across all major modes of transportation.

In addition to being the largest U.S.-based ISO tank operator, the Company provides ISO tank maintenance, cleaning and inspection services across its global depot network. In the current market environment, ISO tanks are becoming an increasingly favored mode of transport due to higher reliability, safety, flexibility and ease-of-use compared to other alternatives.

“We are thrilled to partner with Apollo to help accelerate our next phase of growth,” said Jon Hulsey, President and CEO of ITT. “We have a number of compelling opportunities to strengthen our global platform, and we believe Apollo’s deep understanding of our business, scale and extensive value-creation expertise will help us unlock the significant growth potential of our business. I look forward to continuing to lead the dedicated, hardworking team at ITT as we continue driving value and enhancing customer experience.”

“Jon and the team have done an exceptional job building ITT into an industry leader with high-quality assets and an unwavering commitment to customer service,” said David Cohen, Partner at Apollo. “As food, chemical and other industries increasingly turn to ISO tanks for reliable, safe transport, we believe ITT is well positioned to expand its leadership position as a specialty logistics provider serving supply chains and owners of infrastructure around the globe.”

“This investment in ITT demonstrates our ability to partner with leading global businesses and management teams to unlock value in complex operating environments,” said Dylan Foo, Head of Global Infrastructure at Apollo. “With our flexible capital, global resources and significant industry experience, we believe we are well positioned to support Jon and the ITT team as they continue to drive sustainable long-term success.”

Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to the Apollo Funds. ITT was advised by Raymond James & Associates, Inc. as financial advisor and McGinnis Lochridge LLP as legal advisor.

About Intermodal Tank Transport
Intermodal Tank Transport a leading global provider of ISO tank transportation logistics and depot services for bulk-liquid chemical and food-grade products. Founded in 1993, the company has demonstrated consistent growth for nearly three decades. Headquarters in the United States, ITT serves a global client base of blue-chip customers from 15 offices around the globe spanning North America, South America, Europe and Asia.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2023, Apollo had approximately $598 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo Contacts

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

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

 


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Radiologists from the CRP, Imacam and I-Series groups are joining forces to create Imaneo, a leading group of independent radiologists in Occitanie

Parquest

Radiologists from the CRP, Imacam and I-Series groups are joining forces to create Imaneo, a leading group of independent radiologists in Occitanie.

Press release

Montpellier, 13 June, 2023

Radiologists from the CRP, Imacam and I-Seris groups have decided to partner around a common project by creating Imaneo, a group of independent radiologists in Occitanie.

Based in Hérault and Gard, Imaneo brings together nearly seventy radiologists, all shareholders of the group. To support this project and enable ambitious long-term development, they have partnered with the French investment fund Parquest, which benefits from a long experience in supporting the development of companies in healthcare services. In addition to the existing teams and Parquest, they have also recruited a seasoned management team that will support radiologists in the operational implementation of their project.

Thus, Imaneo radiologists intend to pursue and accelerate the development of their practices with the following objectives:

  • Ensure the development of an offer of medical excellence built around diagnostic imaging and interventional radiology guaranteeing patients a coordinated and high-quality healthcare journey within the region’s healthcare network
  • Benefit from the strength of a group and the expertise of a dedicated management team to address professional challenges (investments, recruitment and retention)
  • Lead an active strategy of development and innovation for the benefit of patients and the whole ecosystem (partnerships with CPTS and the Hospital, teleradiology, AI, screening, etc.)
  • Strengthen the support provided to their employees particularly through training around innovation and good medical practices.Imaneo’s radiologists intend to expand the association to new radiologists or groups of radiologists interested in actively participating in the development of radiology services in their territories. These new members will join as associated radiologists, preserving the autonomy and independence of their practices over time.Imaneo has already welcomed eight new radiologists in early 2023 and plans to welcome five more by the end of the year.Jérôme Bénis, radiologist and President of Imaneo, stated: “This association is an answer to the evolving radiology profession and its new challenges, which require advanced equipment and significant investments. While the sanitary crisis has shed light on the importance of high-quality and local medicine, we are thrilled to partner with Parquest, which brings its economic and managerial expertise as well as the necessary funds and human resources to achieve our ambitions”.Arthur Brézac, Deputy Chief Executive Officer of Imaneo, added: “Radiology in France is at a turning point, facing both organizational and demographic challenges. The Imaneo project, as it was conceived, paves the way for the radiology of tomorrow: care for patients as close as possible to their places of residence while offering innovative and high-quality medical care, allowing radiologists to focus on the development of diagnostic and therapeutic radiology. The medical independence of the radiologists will be the leading force of this adventure”.Laurence Bouttier, Associate Director at Parquest, asserted: “We are convinced by the quality of Imaneo’s medical offering and by the radiologists’ project, that makes Imaneo a unifying force in this sector under consolidation. This project perfectly aligns with our expertise in supporting the structuring of a group and providing the means to accelerate its development independently in the long run. What a promising alliance for the success of this project led by talented doctors.”

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BGF backs family-run business Troy with £15.5 million investment

BGF

Troy,

the largest independent network for industrial and engineering supplies in the UK, has today announced a £15.5 million investment from BGF to support its ambitious growth strategy.

A family-run business, founded in 1986 and based in Exeter, Troy is Britain’s leading independent MRO (maintenance, repair and overhaul) product distributor. It serves the industrial, engineering and trade sectors nationwide via its distribution centres and buying group of 400-plus members.

Passionate about championing independent merchant businesses, Troy delivers value for its members via instant access to more than 420 suppliers of leading industry brands at the best possible purchasing terms, a best-in-class business support system, an invaluable network of people, and an investment platform to ensure local businesses are future-proofed.

With investments in 16 member businesses to date, Troy has delivered value via system enhancements and group synergies. Troy and its members service a range of sectors, including general manufacturing, rail, renewable energy, automotive, medical, aerospace and trade, with a broad product offering including power tools, cutting tools, fixings, fastenings and PPE.

Under the leadership of Paul Kilbride, who acquired Troy in 2010, the business has experienced rapid growth and is now the largest independent distribution network in the industrial and engineering sector in the UK, with a turnover of over £300 million.

BGF’s financial support will further accelerate the company’s growth strategy. In addition to the investments Troy has made within the membership base over the last five years, there is also a significant pipeline of opportunities identified post-investment.

In addition to the funding, Troy has appointed former Wickes CEO Simon King as Non-Executive Chair, following an introduction from BGF’s Talent Network – the largest pool of non-exec talent in the UK.

Paul Kilbride, Chief Executive at Troy, said: “To deliver our strategy of structured growth, we required a minority investment partner that recognised the capabilities of Troy. We are confident that, with BGF as key allies, we will maintain our growth trajectory and realise the company’s ambition.”

The new £15.5 million investment deal was led by James Skade and Hannah Waters, investors in BGF’s Bristol-based South West team.

This is a great opportunity for BGF to invest in a thriving national business network with an excellent reputation and a huge potential for growth. We are delighted to be working alongside Paul and Simon, and look forward to supporting the business to deliver on its ambitious growth plans.

James Skade, BGF investor

Simon King, Non-Executive Chair of Troy, said: “I’m excited to be joining the board of Troy, working alongside the wider team and BGF to capitalise on significant market opportunities and to position the business for further growth.”

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Apollo Infrastructure Funds Announce Structured Investment in Yondr Group

Apollo
Proceeds to Facilitate the Continued Buildout of Yondr’s Portfolio of Hyperscale Data Center Facilities in Europe and the Americas

NEW YORK and LONDON , June 12, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Apollo-managed infrastructure funds (the “Apollo Funds”) have agreed to provide a significant capital commitment to Yondr Group (“Yondr”) via a structured instrument as the first step in a broader partnership. Proceeds from the investment will be utilized to further Yondr’s growth ambitions in support of client demand for its differentiated service proposition as Apollo and Yondr partner to facilitate the continued buildout of Yondr’s portfolio of hyperscale data center facilities. In connection with the investment, Apollo Partners Trevor Mills and Andrew Kirby will join Yondr’s Board of Directors.

Yondr, wholly owned by Cathexis Group (“Cathexis”), is a recognized global leader in developing, owning, and operating build-to-suit hyperscale data centers, primarily in Europe and the Americas. The Company operates a single-tenant, build-to-suit data center strategy, benefitting from key strategic partnerships across the globe which support development and speed to market. Today, Yondr owns and operates a hyperscale data center in the Netherlands, with four additional sites in construction across Europe and the United States expected to come online between 2024 and 2025, all of which are fully contracted with large, investment-grade counterparties.

Yondr has advanced plans to continue scaling its portfolio of build-to-suit hyperscale data centers with the support of Apollo to meet the rapidly growing needs of its high-quality customer base, with a continued focus on speed to market, top-tier facility design and performance while leveraging the Company’s local expertise.

Paul Cossell, CEO at Yondr Group, said, “Apollo’s support of our global growth ambitions is truly exciting for us at Yondr. This allows us to create long-term sustainable value for clients, and to rapidly deploy cloud solutions, in line with the growing demands of our select, blue-chip client base.”

Apollo Partners Trevor Mills and Andrew Kirby said, “With increasing global demand for hyperscale data center capacity, we believe that nimble, proven build-to-suit players like Yondr are well positioned for sustainable growth. Yondr has rapidly developed a leading position in the global hyperscale sector since its inception in 2019, and we are pleased to support Paul, the management team and Cathexis as they scale to meet the growing demand of their customer base. We are looking forward to our role as Board members as part of a long-term, wide-ranging partnership to help support their continued success.”

Dylan Foo, Head of Global Infrastructure at Apollo, added, “We believe this transaction demonstrates our ability to navigate complexity amid continued economic uncertainty and structure an attractive, tailored investment which supports the needs of both Yondr and Apollo Funds. We look forward to supporting Yondr’s continued expansion while pursuing the high growth secular trend of global cloud adoption.”

Simpson Thacher & Barlett LP served as legal advisor to the Apollo Funds. White & Case LLP served as legal advisor to Yondr.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2023, Apollo had approximately $598 billion of assets under management. To learn more, please visit www.apollo.com.

About Yondr Group
Yondr Group is a global developer, owner operator and service provider of data centers. The company specialises in delivering and operating dedicated infrastructure that is engineered for scale. As an organisation, our mission ‘Global capacity responsible delivery’ ensures that we achieve our vision of a tomorrow without constraints. For more information, visit www.yondrgroup.com

Apollo Contacts

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

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

Yondr Contact

Louise Donkor
Marketing Communications Manager
Yondr Group
info@yondrgroup.com

 


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Source: Apollo Global Management, Inc.

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NanoImaging Services Receives Growth Equity Investment from Ampersand Capital Partners

Ampersand

San Diego, California – June 12, 2023: NanoImaging Services (“NIS”), the leading provider of cryo-electron microscopy (“cryo-EM”) services to the pharmaceutical and biotechnology communities, announced today that it has received a growth equity investment from Ampersand Capital Partners.  Members of the NIS management team joined Ampersand in the financing.  The company will use this investment to support its worldwide growth initiatives, including expanding microscope capacity and adding complementary services to further serve the needs of existing and future customers.

NIS was founded in 2007 with the vision to make cryo-EM workflows accessible to all.  Subsequent advances in cryo-EM technology have enabled the technique to become an essential tool used in structure-based drug discovery as well as in later stage drug development applications, including antibody development, virus and vaccine studies, characterization of drug delivery vehicles, and biomanufacturing QA/QC.  NIS and its founders, Clint Potter and Bridget Carragher, have played pivotal roles in developing these applications for industry.  As the largest commercial provider of cryo-EM services today, NIS remains at the forefront of innovation and new application development for this powerful technique.

Peter Glick, Chairman of NIS, commented, “We are thrilled to have Ampersand joining NanoImaging Services as an investor and on the Board.  We have built the leading pharma services company for cryo-electron microscopy, and Ampersand’s support will fuel our continued growth in both structural biology for drug discovery and nanoparticle characterization to support drug product manufacturing.”

David Parker, General Partner at Ampersand Capital Partners who has joined NIS’s Board, added, “NanoImaging Services is an excellent fit with Ampersand’s strategy of partnering with specialized pharmaceutical services providers that have established leadership positions in attractive market segments based on differentiated science, strong technical expertise, and high service quality.  We look forward to supporting the NIS team to accelerate the company’s next phase of growth and further expansion of the cryo-EM market.”

Financial details of the transaction were not disclosed.

 

About NanoImaging Services, Inc.

NanoImaging Services, Inc. was launched in 2007 to provide imaging services to the pharmaceutical, biotechnology, and nanotechnology communities.  We have since built a client-focused organization with a reputation for expertise, reliability, and collaboration. NIS is committed to expanding our service capacity through microscope acquisition, workflow automation, recruitment and training of top talent, and development of new service offerings. Our state-of-the-art facilities include a range of electron microscopes, sample preparation equipment, and computational infrastructure to support structural biology and nanoparticle characterization workflows. NIS is the largest and most comprehensive provider of TEM and cryo-EM services to the industrial life science market. For more information, visit: www.nanoimagingservices.com.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm with $3 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit ampersandcapital.com or follow us on LinkedIn.

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Bain Capital Private Equity to acquire Porus Labs

BainCapital

Bain Capital Private Equity to acquire Porus Labs

Funding to drive expanded presence in specialty chemicals sector

MUMBAI – June 8, 2023 – Bain Capital Private Equity (“Bain Capital”), a leading global private investment firm, today announced the acquisition of Porus Labs, a leading manufacturer of agricultural and speciality chemicals. Bain Capital’s resources and industry experience will enable Porus Labs to unlock significant growth through investments in talent, business development, capacity expansion, process engineering and developing or acquiring distinctive chemical capabilities. Financial terms of the private transaction were not disclosed.

Founded in 1994 in Hyderabad, Porus Labs brings significant specialized knowledge in segments such as speciality polymers, electronic chemicals and agrochemicals. The company’s continuous efforts to increase capabilities through investments in research & development, process improvement and business development capabilities have resulted in robust organic growth and positioned it as a trusted partner of global customers in the industry.

“We are very excited to build a platform in the specialty chemicals contract development and manufacturing space, leveraging Porus Labs’ expertise and strong market position. We have high conviction in the industry’s growth prospects and see immense potential for expanding the company’s market by building or acquiring differentiated chemical capabilities in key sectors,” said Rishi Mandawat, a Partner at Bain Capital Private Equity.

“Porus Labs has been a trusted partner to large global customers for nearly three decades. Our customer-centric approach and chemistry capabilities have helped us gain strategic importance amongst our customers. We enjoyed interacting with the Bain Capital team over the last few months and are pleased to entrust Bain Capital to take Porus Labs on to its next stage of growth. We are confident in our ability to unlock the full potential of our market-leading position through this transformative partnership with Bain Capital by leveraging their extensive industry expertise and global network.” said Srinivasan Namala, CEO at Porus Labs.

The transaction is subject to receipt of necessary approvals from all relevant authorities.

About Bain Capital Private Equity:

Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 280 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. Since its inception, the firm has made primary or add-on investments in more than 1,150 companies. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $165 billion in total assets and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.

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

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Blackpoint Cyber Secures $190 Million Growth Investment from Bain Capital Tech Opportunities and Accel

BainCapital

Blackpoint Cyber Secures $190 Million Growth Investment from Bain Capital Tech Opportunities and Accel

Funding supports Blackpoint’s mission to be a one-stop-shop for MSPs to combat escalating cyber threats

ELLICOTT CITY, Md. and BOSTON – June 8, 2023 – Blackpoint Cyber (Blackpoint), a leading, technology-focused cybersecurity company providing its advanced security suite via managed service providers (MSPs), today announced it has received a $190 million growth investment led by Bain Capital Tech Opportunities, with participation from Accel. Bain Capital Tech Opportunities and Accel join existing investors including Adelphi Capital Partners, Telecom Ventures, Pelican Ventures and WP Global Partners. The investment will be used to fund further development of Blackpoint’s security technology and enable its MSP partners to combat a constantly changing threat landscape.

Founded in 2014 by CEO Jon Murchison, a former National Security Agency computer operations expert who spent more than a decade executing high-priority national security missions, Blackpoint leverages real-world cyber experience and deep knowledge of cyber defense tactics to help MSPs safeguard their customers from cyberthreats. Blackpoint’s Managed Detection and Response (MDR) technology rapidly detects and isolates threats at the earliest sign of a breach. Many security services place the burden of response and action on their customers, whereas Blackpoint’s 24/7 Security Operations Center (SOC) investigates suspicious activity and takes action to neutralize threats in real-time on behalf of its MSP partners. This eliminates alert fatigue and time spent on false positives.

“The MSP market is growing fast, and we are matching that growth by scaling and innovating new cybersecurity solutions,” said Jon Murchison, CEO and founder of Blackpoint Cyber. “Cyber-attacks are becoming more sophisticated and advanced, forcing MSPs to rapidly adapt to protect their customers and infrastructure. Bain Capital Tech Opportunities and Accel bring deep experience in cybersecurity, a sophisticated understanding of the threat landscape, and the resources needed to propel our next phase of growth, and we are thrilled to partner with them and continue providing our MSP partners with an elite and ever-innovative cybersecurity ecosystem.”

Blackpoint is committed to adding additional products to its platform and simplifying the security stack for its MSP partners as they play an ever-increasing role in cybersecurity. Blackpoint recently introduced its Managed Application Control solution to help MSPs ensure that only authorized applications are running on devices and reduce the risk of unauthorized activity or malware infiltration. Blackpoint also launched the Blackpoint University learning platform in 2023 to provide MSPs with access to sales and technical cybersecurity training and lessons from leaders in the military, intelligence, and business communities.

“Blackpoint sets itself apart as the security service of choice for MSPs with its next-gen MDR technology and integrations to detect and actively respond to threats,” said Dewey Awad, a Partner at Bain Capital Tech Opportunities. “We are thrilled to join Jon and the management team to help accelerate the growth of the business and drive new product development that delivers a unique value proposition to MSPs and their customers.”

Bain Capital has deep experience across the cybersecurity sector, having invested in and added value to a wide range of early-stage to mature software companies such as InAuth (acquired by American Express), Rapid 7, Check Point, Barracuda Networks, SolarWinds, Evident.io (acquired by Palo Alto Networks), Blue Coat (acquired by NortonLifeLock), ExtraHop, and BioCatch.

William Blair acted as exclusive financial advisor to Bain Capital Tech Opportunities.

About Blackpoint
Blackpoint Cyber offers the only world-class, nation state-grade cybersecurity ecosystem serving the MSP community. Using its own software and SOC, Blackpoint’s true 24/7 MDR service not only detects breaches earlier than any other solution on the market, but also provides an actual response rather than just an alert to keep your and your clients’ networks safe from widespread damage.

About Bain Capital Tech Opportunities
Bain Capital Tech Opportunities (www.baincapitaltechopportunities.com) aims to help growing technology companies reach their full potential. We focus on companies in large, growing end markets with innovative or disruptive technology where we believe we can support transformational growth. Our dedicated, tenured team has deep experience supporting growing technology businesses—bringing together differentiated backgrounds in private and public equity investing as well as technology operating roles. We invest behind fundamental long-term tailwinds as technology penetrates across industries, creating a large and growing number of investment opportunities. Bain Capital Tech Opportunities focuses on five priority sub-verticals: Application Software, Infrastructure & Security, Fintech & Payments, Healthcare IT, and Internet & Digital Media. We are a business unit of Bain Capital, one of the world’s leading private investment firms with approximately $160 billion in assets under management that creates lasting impact for our investors, teams, businesses, and the communities in which we live.

About Accel
Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Atlassian, Bumble, CrowdStrike, DJI, Fiverr, Flipkart, Freshworks, Qualtrics, Segment, Slack, Spotify, Squarespace, Tenable, and UiPath are among the companies Accel has backed over the past 40 years. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or www.twitter.com/accel.

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Ardian partners with Keflavík Airport in milestone project to track Scope 3 emissions via Ardian Air Carbon

Ardian

08 June 2023 Infrastructure France, PARIS

With Keflavík airport, Ardian Air Carbon now spans a network of 5 airports representing a total of 50 million passengers*.

Ardian, a world-leading private investment house, has partnered with Keflavík International Airport in Reykjavik, to help the airport measure its Scope 3 emissions, using the proprietary platform Ardian Air Carbon.

Ardian Air Carbon has been developed by the data science team at Ardian to measure indirect emissions, such as those generated by aircraft landings, take-offs, taxiing and ground vehicles. The tool uses real time, granular operational data to monitor and project emissions. Ardian Air Carbon is complying with the methodology published by the Airport Carbon Accreditation, the global carbon management certification programme for airports.

Ardian Air Carbon has already been rolled out across 4 airports:  Turin, Milan Malpensa, Milan Linate and Naples. Keflavík is Iceland’s primary international airport and welcomed 6.1 million passengers in 2022. In time, this open platform aims to become an ecosystem wide tool supporting airports and aviation industry stakeholders in their common fight to reach net zero.

The project with Keflavík Airport will focus on estimating scope 3 items emissions at the airport, including emissions related to landings, take-offs, taxi, and auxiliary power units (APU).

Today, air travel accounts for up to 3% of global CO2 emissions. However, in a scenario where aviation is the only industry that does not take necessary action to limit global warming to less than 2% of pre-industrial levels in line with the Paris Agreement, air travel has the potential to contribute to 22% of global carbon emissions by 2050, according to Ardian’s latest Augmented Infrastructure report, The Fight for Net Zero Aviation**.

Airports are critical infrastructure at the centre of the aviation industry. As a result, they can have a structural impact on decarbonisation efforts. Currently, 96% of an average airport’s carbon footprint consists of Scope 3 emissions (excluding cruise emissions), making accurate measurement and projection modelisation essential.

Last year, after using Ardian Air Carbon to improve the measurement of its Scope 3 emissions, Turin Airport achieved its Level 3 ‘Optimisation’ accreditation from the Airport Carbon Accreditation programme. This environmental sustainability programme is promoted by ACI Europe, the association of European airports, and is a respected protocol for actively managing airports’ carbon emissions through concrete, measurable results.

Isavia emphasizes that social responsibility is integral to the company’s strategy and operations. In its Sustainability Policy, the company is guided by sustainability in everything it does. Isavia focuses on climate issues and resource efficiency in relation to the environment, quality of life with regards to society and value creation when it comes to economy. Clear objectives, criteria and a five-year action plan have been set with clear responsibility for the sustainability policy.

“As a long-term investor and shareholder in airports, we believe we have a duty to support the transition to a more sustainable industry and, by doing so, to help future proof aviation for future generations. Airports can have a significant positive impact on the sector by acting to reduce their Scope 3 emissions, but to do so they need accurate data to underpin a realistic and sustainable decarbonisation programme. We created Ardian Air Carbon to break down silos between different stakeholder groups across the industry’s value chain and enable effective collective action to reduce carbon emissions. We look forward to working together with Isavia’s team to onboard them on Ardian Air Carbon platform which will support Keflavík International Airport’s sustainability targets.” Pauline Thomson, Director Infrastructure & Head of Digital Innovation, Ardian

“Keflavik International Airport has set itself the goal of achieving carbon-free operations by 2030 at the latest. This and the airport aiming for the third stage of Airport Carbon Accreditation calls for a reliable tool to measure emissions. Isavia and Keflavik Airport are very happy to enter this important cooperation with Ardian and look forward to a productive and beneficial partnership. We are heading into the future with regards to our operations and this tool will help us to get where we want to be as soon as possible.” Hrönn Ingólfsdóttir, Director of Corporate Strategy & Sustainability, Isavia

 

*based on the number of passengers of each airport in 2022

**https://www.ardian.com/sites/default/files/2022-11/The-Fight-for-a-Net-Zero-Aviation-Ardian.pdf, p.15

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Baird Capital Portfolio Company ‘UGSI’ Rebrands as ‘cleanwater1’

Baird Capital

‘UGSI’ Rebrands as ‘cleanwater1’

UGSI Solutions, Inc. (“UGSI”), one of the leading providers of water quality and chemical feed solutions to the municipal water,  wastewater utility, and industrial markets, announced its formal rebranding to cleanwater1, inc.The new name does not impact or change any product and service offerings; rather, the name change reflects the company’s well-established mission to be the optimal partner to utilities and industrial customers facing ever-evolving and demanding water quality goals. To achieve this objective, cleanwater1 will continue to acquire, develop, and optimize solutions that improve water quality.

“We have built a great company by combining proven brands with science, monitoring, and controls, to solve today’s utility operating challenges,” said David Stanton, President and CEO of cleanwater1. “Our new name and website are designed to make it easier for our customers to find us and learn how we can help.”

Read the full announcement here, or watch a video message from CEO, David Stanton.

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Baird Capital Invests in Parallax

Baird Capital

Baird Capital’s Venture Capital team today announced it led a Series B funding round in Parallax, a leading provider of predictive forecasting and capacity planning software for digital services and organizations. Parallax plans to utilize the new capital to fuel its product innovation initiatives, expand its market presence, and further scale its operations to meet the growing demand for solutions.

“Through our own investments in professional services businesses across the Baird Capital portfolio, we’ve witnessed firsthand the importance of effective resource management and its impact on workforce utilization and profitability,” said Jim Pavlik, Partner with Baird Capital’s Venture team and newly appointed Board member at Parallax. “We’ve been extremely impressed with Parallax’s cloud-based platform and its ability to optimize resource planning and forecasting for its clients and are very excited to partner with the Parallax team and support their continued investments in growing the business.”

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