Our Investment in Cursor – accel

Accel

We’re pleased to announce our investment in Cursor, the company shaping the future of software engineering. What Michael, Aman, Arvid, and Sualeh have accomplished in just a few short years is without precedent, and it’s clear they’re only getting started.

As software has accelerated every company and industry over the past several decades, tools supporting engineering teams have flourished – yet astonishingly, the process of writing code itself has hardly changed. Cursor shrinks the gap between human intent and action.  We believe it will become the collaborative interface between humans and computers, where every keystroke, action or inaction is an exchange of information that helps to accelerate cycles and achieve better outcomes. With relentless execution and distinctive product taste, the Cursor team is making software engineering a seamless extension of the human brain.

With over $1.5 billion invested in AI-native companies, we have observed the compounding leadership effect of winners in certain categories. In coding, developer choice —> wider distribution & deeper engagement —> higher fidelity keystroke data —> compounding product differentiation. With market leadership comes disproportionate access to talent, capital, GPU capacity, and marketplace influence.

The future is uncertain, but it will likely involve various configurations of humans and agents writing code together.  Today, Cursor changes the paradigm for building software; tomorrow, we believe it will be the operating system for human-machine collaboration across all developers.  We’re delighted to back Michael and this incredibly talented team for the ambitious journey ahead.

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Coller Capital expands global reach through strategic partnership with Allfunds

Coller Capital

  • The partnership will distribute CollerEquity and CollerCredit to accredited private investors, wealth managers and family offices.
  • It will provide global individual investors with access to institutional-quality private equity and credit secondaries, enabling them to benefit from the liquidity and resilience that private markets secondaries afford.

London 6th June 2025 – Coller Capital, the world’s largest dedicated private market secondaries manager, has today announced a global distribution partnership with Allfunds, the leading end-to-end WealthTech partner for the wealth and asset management industries with more than $1.5 trillion assets under administration across Mutual Funds, Alternative Assets and ETFs. This global partnership will see Coller Private Equity Secondaries (CollerEquity) and Coller Private Credit Secondaries (CollerCredit) made available to the 19,000 accredited private investors, wealth managers and family offices on the Allfunds platform.

CollerEquity launched in July 2024. The Fund’s portfolio consists of institutional quality private equity assets diversified by GP-manager, and fund vintage as well as by geography and sector. Alongside diversification, the Fund seeks to deliver a combination of absolute and risk-adjusted returns and the opportunity for more liquidity than traditional private equity funds.

CollerCredit launched in October 2024. The portfolio is diversified across vintages, managers, industrial sectors and geography. While its core focus is on senior direct lending opportunities, it has the flexibility to invest across other credit strategies opportunistically if risk-adjusted returns and liquidity profiles are deemed to be appropriate.

Both CollerEquity and CollerCredit and its regional feeder funds are available to professional and qualified investors in a range of global jurisdictions, including across Europe, the Middle East, Canada, Asia, and Australia in compliance with local law. The Funds’ clients are supported by Coller’s Private Wealth Secondaries Solutions (PWSS) team, which now consists of 50 dedicated professionals supported by the wider Coller platform. Both Funds provide investors with access to Coller Capital’s 35 years of secondaries investment expertise and its global platform. They offer monthly subscriptions and quarterly redemptions, and can be accessed with USD 50,000 minimum commitment.

Jake Elmhirst, Partner, Head of Private Wealth Secondaries Solutions and Deputy Head of Capital Formation at Coller Capital, said: “Coller Capital has a long-standing reputation for innovation in private markets secondaries, and that spirit drives our wealth strategy. The strategic investment approach underpinning CollerEquity and CollerCredit provides investors with diversified, risk-adjusted returns, as well as portfolio resilience in times of wider market dislocation. This partnership with Allfunds widens the spectrum of investors who have access to these benefits, and we look forward to working with their team.”

Boris Maeder, Managing Director and Head of International Private Wealth Distribution at Coller Capital, said: “Through this global partnership with Allfunds, we are making CollerEquity and CollerCredit more accessible to a wider range of investors. It represents a meaningful step in broadening access to private equity and private credit secondaries, which are powerful tools for portfolio diversification, liquidity and resilience – including in times of wider market uncertainty.”

Borja Largo, Chief Fund Groups Officer for Allfunds said: “This partnership with Coller Capital unlocks exciting new access to private market secondaries for our clients, strengthening Allfunds’ position as the largest and most comprehensive marketplace for wealth and asset management solutions. We remain dedicated to continuously enhancing our private markets offering to empower our clients and help them grow.”

Coller Capital has offices in London, New York, Hong Kong, Beijing, Seoul, Luxembourg, Zurich, Melbourne, Montreal and Singapore. The firm manages $40 billion in secondaries across private equity, private credit, and other private market vehicles and has 35 years of experience in the secondary private capital market.

About Coller Private Equity Secondaries – (“CollerEquity”) and Coller Private Credit Secondaries (“CollerCredit”)

THIS IS A MARKETING COMMUNICATION IN RESPECT OF THE FUND. PLEASE REFER TO THE PROSPECTUS, KEY INFORMATION DOCUMENT, GOVERNING AND OTHER RELEVANT DOCUMENTS FOR THE FUND BEFORE MAKING ANY INVESTMENT DECISION

Potential investors should be aware that an investment in the CollerEquity and/or CollerCredit (including any related overflow, co-investment, or other vehicles, the “Funds”) is speculative and involves a high degree of risk, and is suitable only for those investors who have the financial sophistication and expertise to evaluate the merits and risks of an investment in the Fund(s) and for which such Fund(s) do(es) not represent a complete investment program. An investment should only be considered by persons who can afford a loss of their entire investment. The following is a summary of only certain considerations and is qualified in its entirety by the more detailed risks and conflicts in the CollerEquity and CollerCredit prospectuses. Investors are urged to consult with their own tax and legal advisors about the implications of investing in the Fund. Fees and expenses can be expected to reduce the overall return of the Fund.

Investors should carefully consider the investment objectives, risks, charges and expenses of CollerEquity and/or CollerCredit. This and other important information about the Funds are contained in the relevant prospectus. Please read the prospectus(es) carefully before investing. The CollerEquity Prospectus can be found here. The CollerCredit Prospectus can be found here.

General Risks. Coller Capital cannot ensure that it can choose, make and realize investments in any particular investment fund or portfolio of investment funds. There is no assurance CollerEquity and/or CollerCredit will be able to generate returns for the investors or that returns will be commensurate with the risks of investing in the type of companies and investments in which CollerEquity and/or CollerCredit may indirectly invest. An investment in CollerEquity and/or CollerCredit should only be considered by persons who can afford a loss of their entire investment. There can be no assurance that CollerEquity and/or CollerCredit’s investment objectives will be achieved or that investors will receive a return on their capital. Any investment in CollerEquity and/or CollerCredit entails risks, including but not limited to the risk of losing all or part of the amount invested. There can be no assurance that CollerEquity and/or CollerCredit will be able to implement its investment strategy or achieve its investment objectives.

Specific risks: Lack of Operating History. Diversification. Competition. Limited Current Return. Illiquidity; Transfer Restrictions. Leverage. Exchange Rate Fluctuations.

Performance is generally subject to taxation which depends on the particular situation of each investor and which may change in the future. The operating or chosen currency of an investor may also impact upon returns that may be realised by that investor.

Capital is at risk and investors may not receive back the amount they invest. The strategy of the Funds does not guarantee a profit or ensure protection against losses. There can be no assurance that the Funds will achieve their objectives or avoid significant losses.

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Constant Contact acquires Moosend from Sitecore

Clearlake

Strengthens Constant Contact’s International Presence and Complements its Existing Marketing Software Tools

 

Waltham, MA and Athens, Greece, June 6, 2025 – Constant Contact, a leading provider of digital marketing tools for small businesses and nonprofits, today announced that it has acquired Moosend, an email marketing and automation platform, from Sitecore. The addition of Moosend complements Constant Contact’s existing SaaS marketing platform and strengthens Constant Contact’s presence in Europe.

The acquisition of Moosend will unlock strategic growth opportunities and allow for investment in Moosend’s product portfolio, which serves small businesses and marketing teams who utilize the solution to deliver personalized messaging, improve customer interactions, and build loyalty. Following the transaction, Moosend will continue to power Sitecore’s Send solution for new and existing customers.

“The acquisition of Moosend represents an important investment in our global growth strategy,” said Frank Vella, CEO, Constant Contact. “Moosend’s established presence in EMEA provides us with valuable access to key international markets, allowing us to accelerate our support for small businesses across the globe. Furthermore, Moosend’s robust white-label capabilities offer exciting new avenues for us to bring Constant Contact’s best-in-class digital marketing tools to a broader set of businesses that serve SMB customers.”

“Today marks an exciting new chapter for Moosend,” said Panos Melissaropoulos, Co-founder and General Manager of Moosend. “Our teams are united by a shared mission: to help marketers win with solutions that are not just powerful, but genuinely intuitive and adaptable to their needs. I’m incredibly grateful for the trust our customers have placed in us over the years, and we’re more committed than ever to delivering world-class innovation that drives real results.”

 

Terms of the transaction were not disclosed.

 

About Constant Contact

Constant Contact makes digital marketing easy and effective for small businesses and nonprofits across the globe. Whether just starting or managing complex multi-channel campaigns, SMBs benefit from our powerful SaaS platform that delivers a simplified marketing experience in less time and with better results. With cutting-edge technology, best-in-class deliverability, and award-winning customer support, we help the small stand tall. Learn more at constantcontact.com.

 

About Sitecore

Sitecore creates digital experiences so powerful they connect the world. Our agentic experience platform makes it simple for marketers to reach, engage, and serve customers with tailored journeys that make their stories relevant. With AI at the core, Sitecore transforms content delivery, drives engagement, and unlocks personalization at scale, redefining what’s possible in digital experience. Learn more at sitecore.com.

 

About Moosend

Moosend is an email marketing and automation platform that provides businesses with advanced tools to create, send, and track effective email campaigns. Known for its scalability and robust features, Moosend serves a diverse range of businesses globally and is a key technology underpinning Sitecore Send. For more information, visit Moosend.com.

 

Contact

Kristen Andrews

pr@constantcontact.com

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Bryntum, the leading scheduling web-component provider, partners with Adelis to drive continued growth and expansion

Adelis Equity
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Bryntum, the leading web-component provider of scheduling tools to project management applications, announces Adelis Equity as the new majority shareholder. Adelis will, through Adelis Equity Partners Fund III AB, support Bryntum in its next stage of growth and product development.

Bryntum, founded in 2009, is a leading provider of high complexity web-components used in project management. Bryntum offers high-performance scheduling and Gantt components for web applications, enabling developers to build complex scheduling, project management and resource planning tools.

Bryntum’s tools are used by thousands of customers across over 80 countries and trusted by developers across industries such as aerospace, healthcare, logistics and software development. The company is headquartered in Stockholm, Sweden, with a distributed team serving a global customer base.

“We are impressed by Bryntum’s world-class engineering team and the strong customer value proposition they have built through their products. Mats and his team have created a highly respected brand in the developer tools space, and we’re excited to support their next phase of growth,” say Joel Russ and Hampus Nestius at Adelis.

Through the partnership and support from Adelis, Bryntum will continue its international growth by scaling operations to reach new customers and markets, while continuing to expand the product suite.

“Partnering with Adelis gives us the strategic support we need to scale our operations, expand our product suite, and reach new markets,” says Mats Bryntse, founder and CEO of Bryntum, who will remain CEO and a significant owner in Bryntum. “We’re thrilled to continue our journey with a partner who shares our long-term vision and commitment to developer excellence.”

“I am very impressed by the technical strength and deep domain expertise that Bryntum has built over the years. The company’s global customer base and reputation for engineering excellence are truly remarkable. I’m excited to work closely with the team to take Bryntum to the next level and further accelerate its growth journey,” says the newly appointed Chairman Mikael Viotti.

For further information:

Mats Bryntse, Bryntum: mats@bryntum.com

Hampus Nestius, Adelis Equity Partners: hampus.nestius@adelisequity.com

Joel Russ, Adelis Equity Partners: joel.russ@adelisequity.com

About Bryntum

Bryntum, founded in 2009, is a leading provider of advanced web-components for project management applications. The company offers high-performance scheduling and Gantt chart solutions that enable developers to build complex, data-intensive applications with ease. Bryntum serves thousands of customers in over 80 countries and is headquartered in Stockholm, Sweden, with a globally distributed team. For more information, please visit https://www.bryntum.com.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned companies in the Nordic and DACH regions. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 47 platform investments and more than 270 add-on acquisitions. Adelis manages approximately €4.5 billion in capital. For more information, please visit www.adelisequity.com.

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AEP Closes on Transmission Investment Strategic Partnership with KKR and PSP Investments

KKR
  • KKR and PSP Investments have jointly acquired a 19.9% equity interest investment in AEP’s Ohio and Indiana Michigan transmission companies.
  • The transaction proceeds will be used to support AEP’s five-year, $54 billion capital plan.

COLUMBUS, OhioJune 5, 2025 /PRNewswire/ — American Electric Power (Nasdaq: AEP), KKR and PSP Investments have completed the transaction announced in January 2025 for KKR and PSP Investments to jointly invest $2.82 billion for a 19.9% equity interest in AEP’s Ohio and Indiana Michigan transmission companies. The 19.9% minority equity interest represents approximately 5% of AEP’s total transmission rate base.

More than 20 gigawatts of new power demand is expected across AEP’s footprint by the end of the decade. In addition, AEP continues to see further interest from almost 600 new and existing customers representing nearly 180 gigawatts of energy demand looking to connect to AEP’s transmission system. This strategic partnership will enable further infrastructure development to support the growth opportunities in AEP’s IndianaMichigan and Ohio service territories. AEP will continue to operate and maintain these transmission facilities.

“AEP built the nation’s largest transmission grid, and our position as an industry leader in the transmission space enabled us to attract world-class partners like KKR and PSP Investments that have a history of investing in and developing vital infrastructure projects,” said Bill Fehrman, AEP president and chief executive officer. “Our customers and communities will benefit from the initial investment, which supports the execution of our five-year, $54 billion capital plan, and this strategic partnership will facilitate ongoing investment in the critical infrastructure needed to support our customers and enhance reliability in IndianaMichigan and Ohio.”

“We are honored that AEP has entrusted us to support their efforts to modernize their transmission systems in order to better meet increased customer demand and further enhance grid reliability,” said Kathleen Lawler, managing director, KKR. “We look forward to working closely alongside PSP Investments to bolster AEP’s commitment to providing communities with reliable, affordable power.”

“PSP Investments is pleased to strategically partner with AEP to support its ambitious growth plan that will reinforce its position as an industry leader in the transmission space,” said Michael Rosenfeld, managing director, Infrastructure Investments, PSP Investments. “We look forward to participating in the development of critical transmission infrastructure in some of AEP’s fastest-growing service territories and are excited to embark on this journey alongside KKR.”

About AEP
Our team at American Electric Power (Nasdaq: AEP) is committed to improving our customers’ lives with reliable, affordable power. We are investing $54 billion from 2025 through 2029 to enhance service for customers and support the growing energy needs of our communities. Our nearly 16,000 employees operate and maintain the nation’s largest electric transmission system with 40,000 line miles, along with more than 225,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 29,000 megawatts of diverse generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in VirginiaWest Virginia and Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in ArkansasLouisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. AEP is headquartered in Columbus, Ohio. For more information, visit aep.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 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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investors with $264.9 billion of net assets under management as of March 31, 2024. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of Canada for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit investpsp.com or follow us on LinkedIn.

SOURCE American Electric Power

 

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AEP Closes on Transmission Investment Strategic Partnership with KKR and PSP Investments

KKR
  • KKR and PSP Investments have jointly acquired a 19.9% equity interest investment in AEP’s Ohio and Indiana Michigan transmission companies.
  • The transaction proceeds will be used to support AEP’s five-year, $54 billion capital plan.

COLUMBUS, OhioJune 5, 2025 /PRNewswire/ — American Electric Power (Nasdaq: AEP), KKR and PSP Investments have completed the transaction announced in January 2025 for KKR and PSP Investments to jointly invest $2.82 billion for a 19.9% equity interest in AEP’s Ohio and Indiana Michigan transmission companies. The 19.9% minority equity interest represents approximately 5% of AEP’s total transmission rate base.

More than 20 gigawatts of new power demand is expected across AEP’s footprint by the end of the decade. In addition, AEP continues to see further interest from almost 600 new and existing customers representing nearly 180 gigawatts of energy demand looking to connect to AEP’s transmission system. This strategic partnership will enable further infrastructure development to support the growth opportunities in AEP’s IndianaMichigan and Ohio service territories. AEP will continue to operate and maintain these transmission facilities.

“AEP built the nation’s largest transmission grid, and our position as an industry leader in the transmission space enabled us to attract world-class partners like KKR and PSP Investments that have a history of investing in and developing vital infrastructure projects,” said Bill Fehrman, AEP president and chief executive officer. “Our customers and communities will benefit from the initial investment, which supports the execution of our five-year, $54 billion capital plan, and this strategic partnership will facilitate ongoing investment in the critical infrastructure needed to support our customers and enhance reliability in IndianaMichigan and Ohio.”

“We are honored that AEP has entrusted us to support their efforts to modernize their transmission systems in order to better meet increased customer demand and further enhance grid reliability,” said Kathleen Lawler, managing director, KKR. “We look forward to working closely alongside PSP Investments to bolster AEP’s commitment to providing communities with reliable, affordable power.”

“PSP Investments is pleased to strategically partner with AEP to support its ambitious growth plan that will reinforce its position as an industry leader in the transmission space,” said Michael Rosenfeld, managing director, Infrastructure Investments, PSP Investments. “We look forward to participating in the development of critical transmission infrastructure in some of AEP’s fastest-growing service territories and are excited to embark on this journey alongside KKR.”

About AEP
Our team at American Electric Power (Nasdaq: AEP) is committed to improving our customers’ lives with reliable, affordable power. We are investing $54 billion from 2025 through 2029 to enhance service for customers and support the growing energy needs of our communities. Our nearly 16,000 employees operate and maintain the nation’s largest electric transmission system with 40,000 line miles, along with more than 225,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 29,000 megawatts of diverse generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in VirginiaWest Virginia and Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in ArkansasLouisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. AEP is headquartered in Columbus, Ohio. For more information, visit aep.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 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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investors with $264.9 billion of net assets under management as of March 31, 2024. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of Canada for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit investpsp.com or follow us on LinkedIn.

SOURCE American Electric Power

 

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Congratulations, Circle! – Accel

Accel

Today marks an exciting milestone for Jeremy Allaire and the Circle team as they go public. For those of us who have watched this journey up close, this is a milestone years in the making—and a testament to Jeremy and the Circle team’s persistence.

This isn’t Jeremy’s first time on the podium. He last rang the bell when he took Accel portfolio company Brightcove public in 2012. With Circle, he took on his next challenge: launching a company with the ambitious goal of building a new digital financial system in an industry characterized by complexity, intense public scrutiny, and regulatory uncertainty. It turns out that Jeremy and his team were more than up to the task.

Circle was founded in 2013 with a broad vision to facilitate the next stage of internet-driven globalization and commerce. Today, USDC—Circle’s stablecoin—has become one of the most widely used digital currencies in the world, with more than $25 trillion in on-chain transactions as of late March.

What stands out about the Circle team is their willingness to take the long view, even when it means doing things the hard way—in particular, through their commitment to a regulatory-first posture and their reputation for integrity and transparency.

Congratulations to Jeremy and everyone at Circle!

–The Accel Team

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Reddy Family and Bain Capital Announce Formation of Trillium Foods, Premium Liquid Food and Beverage Manufacturing Platform

BainCapital

Family-owned, private company launches with investment from Bain Capital

Trillium Foods (the “Company”), a premier liquid food and beverage company focused on manufacturing and innovation, today announced its official launch. The family-owned, privately held company is a scale North American platform with diverse product capabilities across dressings, sauces, mayonnaises, syrups, and beverage mixes for application in foodservice, retail, and food processing channels. Trillium Foods is majority owned by the Reddy Family and backed by an investment from Bain Capital’s Private Credit Group (“Bain Capital”). The Reddy family and Bain Capital will partner with Trillium’s management team, led by CEO Ash Reddy, to expand the Company’s capabilities and market position.

Founded in 2017 as Flavor Reddy Foods (“FRF”) by foodservice industry veteran Ram Reddy, the business has grown rapidly, driven by key partnerships with long-term strategic customers, deep expertise in culinary innovation, and a proven track record of high-touch service and execution. The Company has made three transformative acquisitions to drive growth and support its customer base, including:

  • In 2023, acquired Cincinnati, Ohio-based Dominion Liquid Technologies, which specializes in the production of liquid food and beverage products including syrups, beverage mixes, and sauces.
  • In 2024, acquired Lancaster, Pennsylvania-based, specialty-condiment manufacturer Lancaster Fine Foods as a carve-out from its previous owner.
  • In 2025, acquired Brundidge, Alabama-based Southern Classic Food Group, a premier manufacturer of branded mayonnaise, dressings, sauces, and syrups.

Bringing together these four businesses and manufacturing facilities have brought a diversified combination of talent, high quality existing customer relationships, increased manufacturing capabilities, and capacity across both savory and sweet liquid categories. Trillium Foods has a team of approximately 500 employees and a manufacturing footprint exceeding 500,000 square feet. The Company’s facility network can produce over 1 billion pounds of finished goods annually, with capacity to service existing and new customers.

“We are thrilled to announce the launch of Trillium Foods with the main purpose of helping our customers win through our innovation and execution capabilities,” said Ram Reddy, Chairman of the Company’s Board of Directors. “I am grateful for the support of our customers, employees, investors, and partners. Trillium will be a significant force in the industry, and we look forward to accomplishing great things as a unified company.”

“Our team is committed and completely aligned with our mission of delivering greater value for our customers, and we are excited about the opportunities this combination presents,” added Ash Reddy. “Bain Capital shares our long-term vision and collaborative approach to the partnership. I’m confident that by joining forces, we will execute on the aggressive growth agenda in front of us.”

“Ram and Ash have built an incredible business which has earned them the long-term trust of their customers to continually innovate and deliver on market-leading food and beverage products. Bain Capital has a long history of supporting founder-owned businesses and we are thrilled to partner with the Trillium team on their next stage of growth,” said June Huang, a Managing Director at Bain Capital. “Through our extensive experience investing in the food and beverage space, Trillium clearly stood out as a high-quality business with scale and product differentiation. We are pleased to provide a one-stop financing solution tailored to Trillium’s growth needs and look forward to a collaborative partnership with the Reddy family,” added Megan McKenzie a Vice President at Bain Capital.

Bain Capital has a long history of partnering with companies in the consumer, retail, and restaurant industries to accelerate growth. The firm’s restaurant and food-related investments have included Bloomin’ Brands, Brakes Group Food Distribution, Bread Holdings, Cuisine Solutions, Dessert Holdings, Dunkin’ Brands Group, Domino’s Pizza, Fogo de Chão, and Valeo Foods.

About Trillium Foods

Trillium Foods is a family-rooted, innovation-driven manufacturer of premium liquid food and beverage products. The company is a partner of choice to iconic Quick Service Restaurants (QSRs), Consumer Packaged Goods (CPG) brands, distributors, and food manufacturers across both savory and sweet liquid products. Guided by strong values and an entrepreneurial spirit, we specialize in creating high-quality products that meet the evolving needs of our customers. Trusted by industry leaders, we are known for our precision, consistency, and unwavering commitment to safety and quality. As we continue to grow, Trillium Foods remains dedicated to building lasting partnerships and helping our customers bring their delicious ideas to life.

About Bain Capital Credit

Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $53 billion in assets under management. Bain Capital Credit invests across the credit spectrum and in credit-related strategies, including leveraged loans, high-yield bonds, structured products, private middle market loans and bespoke capital solutions. Our team of more than 100 investment professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. Bain Capital Credit’s dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $150 million located in North America, Europe and Asia Pacific. In addition to credit, Bain Capital invests across asset classes including private equity, public equity, venture capital and real estate, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.

 Scott Lessne

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WGSN acquires IWSR, enhancing its AI, data analytics and business intelligence capabilities for the alcoholic beverage industry

Apax

WGSN, the world’s leading trend forecaster, has announced today that it has acquired IWSR, the global leader in data, analytics and insights for the beverage alcohol industry, from Bowmark Capital, the mid-market private equity fi rm. Funds advised by Apax Partners LLP (“Apax”) acquired WGSN in January 2024 and supported the IWSR acquisition.

The move supports WGSN’s strategy to expand its market-leading trend forecasting capabilities, AI, data analytics and insights across a broad range of consumer industries.

WGSN signalled this ambition with the launch of its Food & Drink platform in 2020, and the acquisition of IWSR is a decisive step in providing a holistic solution in this space.

Carla Buzasi, CEO at WGSN, commented: “We are delighted to be able to combine the depth of data and specifi c market expertise that IWSR possesses with WGSN’s proven trend forecasting methodology, which has been guiding the world’s biggest brands for almost 30 years. We believe that this move marks an important watershed for both WGSN and the food and beverage industry as a whole, as it illustrates the transformative power unleashed when data science and human expertise are combined.”

This move also provides IWSR with additional expertise in consumer behaviour tracking and trend forecasting as part of their product-led growth strategy

Julie Harris, CEO at IWSR, commented: “Joining forces with WGSN represents an exciting next phase for IWSR. Thanks to the expertise of our teams and deep customer trust we have built over the last four decades, IWSR is today the single source of truth for the beverage alcohol industry. Combining our proprietary data and analytics expertise with WGSN’s global leadership in consumer trend forecasting will deliver a truly world-class experience for clients worldwide.”

Mark Sykes, Principal at Apax, commented: “The pace of innovation at WGSN has been truly impressive, especially as it expands its insights, data, and forecasting capabilities across a range of consumer-facing sectors. The addition of IWSR, a clear market leader in the beverage alcohol space, will further enhance the products and services WGSN provides and create significant value for customers of both companies.”

Fiona McCormick, partner at Bowmark, commented: “Since 2021, we have supported the IWSR team in accelerating the company’s growth through product innovation, investment in technology and enhancement of its client proposition. With the expertise and reach of WGSN, IWSR is now ideally positioned to capitalise on its unique position in a dynamic market, delivering further value to its customers.”

The transaction closed in June 2025.

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