Category Archives: News

HEMA continues growth strategy under full ownership of the van Eerd Family

Parcom

Mississippi Ventures, the investment vehicle of the van Eerd family and owner of Jumbo, is acquiring the remaining 50% of HEMA shares from Parcom after five years. Following nearly five years of investments in product quality, employees, customers, stores, and an innovative assortment, HEMA has grown in revenue, volume, profit, and customer satisfaction. HEMA is once again truly HEMA. The van Eerd family’s full acquisition aligns with the philosophy that Jumbo and HEMA, as two strong independent brands, can reinforce each other. This enables HEMA to continue investing in the brand and customer experience in the coming years, further developing its growth and appeal.

In recent weeks, HEMA presented the next steps in its growth strategy, aimed at further expanding revenue, volume, profit, and customer satisfaction. HEMA will continue investing in improving and renewing products and stores. An additional 100 stores will be renovated, and 15 new stores will be added, including expansions in Belgium and France. HEMA is also optimizing the integration of in-store and online experiences, building on its online growth.

Saskia Egas Reparaz, CEO of HEMA: “Despite the challenging retail market, HEMA is performing strongly. In the first nine months of 2025, we achieved growth in revenue, volume, profit, and customer satisfaction. To maintain this momentum and because we believe there is still great potential in the HEMA brand, we are raising the bar. We shared this ambition with our employees, franchisees, suppliers, and partners in recent weeks. We will continue investing in attractive stores and friendly, engaged employees. We are constantly improving and renewing our assortment, focusing on clothing, small seasonal moments, home, and personal care. To remain affordable in times when everything is becoming more expensive, we organize the process from product sourcing to store placement as efficiently as possible. We do this together with our 17,000 colleagues, franchisees, suppliers, and partners, always guided by our mission: a better everyday life in a more beautiful world.”

“HEMA is once again truly HEMA”
Saskia continues: “For HEMA, it is an important milestone that the van Eerd family is acquiring the remaining shares from Parcom. And it’s a wonderful start to our 100th anniversary year. Over the past years, we have received tremendous support from our shareholders. Parcom and the van Eerd family played a key role in HEMA’s transformation, and together we succeeded in restoring growth. Always in a highly professional yet pleasant and constructive manner. HEMA is once again truly HEMA. It is therefore great that, with a long-term owner, we can enter the next phase for HEMA. They know our sector like no other and, like us, focus on customers. Jumbo and HEMA are two brands that play a role in customers’ everyday lives. We have seen how valuable that is in recent years. We look forward to this next phase of our collaboration.”

Colette Cloosterman-van Eerd, on behalf of the van Eerd family: “Almost five years ago, we became a shareholder in HEMA, and I can only say that we have fallen even more in love with HEMA. It is impressive to see how Saskia and her team have brought the soul back into the HEMA brand and returned it to growth. At HEMA, everything revolves around a great customer experience. HEMA dares to invest in quality, convenience, fun, and affordability. That is crucial for successful retail. Together with Parcom, we ensured that HEMA is once again rock solid and ready for the next growth phase. We have chosen to fully support that next phase. Employees, franchisees, customers, and suppliers of HEMA can count on that. Retail has a few iconic names in the Netherlands, including HEMA and Jumbo. Both have a rich history and a shared love for everyday life. We are convinced that HEMA and Jumbo, as two individually strong brands, can strengthen each other in various ways. Next year, HEMA celebrates its 100th anniversary—a remarkable milestone—and we are extremely proud to celebrate that as owner.”

Bas Becks, Parcom: “When we became a shareholder in HEMA almost five years ago, in the midst of the covid-pandemic, we promised to bring HEMA into calmer waters. In an extraordinary market context, the HEMA team succeeded in making HEMA a store where people love to shop again. HEMA is now ready for the next growth phase, which requires a committed and experienced shareholder with a true retail heart. That is how we have come to know the Van Eerd family over the past five years. For HEMA, this is a fantastic starting point for continuing its outstanding performance.”

The proposed transaction is subject to customary conditions, including obtaining competition law approval and advice from HEMA’s works council.

 

Categories: News

Tags:

Biotalys Receives Regulatory Approval by U.S. EPA for EVOCA

GIMV

U.S. Registration Marks a Significant Milestone as the First Protein-Based Biofungicide of its Kind to be Approved by the EPA.

Ghent, BELGIUM – 2 December 2025, 07:00 CET – Biotalys (Euronext: BTLS) is excited to announce it has received regulatory approval from the U.S. Environmental Protection Agency (EPA) for its first biofungicide, EVOCA™*. This product was developed using Biotalys’ AGROBODY™ technology platform and is the first protein-based biofungicide of its kind to be approved by the EPA.

EVOCA is a precision biocontrol solution with a new mode of action** that targets the fungal pathogens botrytis (grey mold) and powdery mildew in high-value fruits and vegetables while minimising the risk to beneficial organisms or the environment.

With this approval in hand, Biotalys can proceed with the dossiers for state registrations in California and Florida, two of the most important growing regions for fruit and vegetables in the United States***. In Europe, EVOCA has entered the peer review phase, and the Netherlands – as the rapporteur member state – has proposed approval in Europe, subject to the provision for certain additional data as requested during the peer review phase.

Additionally, the company can move forward with building up the U.S. regulatory submission for EVOCA NG – its next-generation product – currently in the final phases of development. The regulatory review process for EVOCA NG is expected to be significantly shorter, as the product contains the same active ingredient as EVOCA and features enhanced formulation and production methods. Biotalys envisages obtaining registration of EVOCA NG in the U.S. in 2028-29 and in the EU and Brazil in 2029-30, and subsequently launching it commercially in these markets worth around USD 1.2 billion combined1.

“This approval marks a major regulatory milestone for EVOCA and moves us closer to delivering a new, sustainable tool for farmers to protect their crops,” said Kevin Helash, CEO of Biotalys. “The product has an entirely new mode of action to target fungal diseases, highlighting the uniqueness of Biotalys’ technology platform as a pathway to discovering many new modes of action in the coming years. The EPA’s decision reinforces the potential of our technology to help shape the future of agriculture and is a testament to the dedication of our entire team.”

Categories: News

Tags:

Laurentian Bank Accelerates Strategic Shift to Specialty Commercial Bank

LaCaisse
  • Laurentian Bank Board of Directors approves acceleration of its specialty commercial bank strategy, leading to an exit from retail and SME banking sectors.
  • National Bank will acquire Laurentian Bank’s retail and SME banking portfolios and syndicated loan portfolio, complementing its activities in Québec.
  • Fairstone Bank to acquire all issued and outstanding common shares of Laurentian Bank and combine commercial lending operations, leveraging both organizations’ expertise to strengthen capabilities and expand market presence.

Laurentian Bank of Canada (“Laurentian Bank”), a Schedule I bank offering a wide range of financial services and advice-based solutions to customers across Canada and the United States, today announced a significant acceleration of its 2024 Strategic Plan toward its specialty commercial bank model, resulting in its exit from the retail and SME banking business. This transformation will position Laurentian Bank as a commercially oriented bank, concentrating on commercial real estate lending, inventory and equipment financing, intermediary services and capital markets activities.

National Bank of Canada (directly or through one or more affiliates) (“National Bank”) has entered into a definitive agreement to acquire Laurentian Bank’s retail and SME banking portfolios (the “Retail/SME Transaction”). Customers will benefit from National Bank’s enhanced offering of retail and business banking solutions, including deposits, loans and investments. They will also be served through National Bank’s leading digital services, expanded product and service offerings, and a broader branch network and business banking teams. Laurentian Bank and National Bank have also entered into a definitive agreement in respect of the sale to National Bank of Laurentian Bank’s syndicated loan portfolio (the “Syndicated Loan Transaction” and, collectively with the Retail/SME Transaction, the “National Bank Transactions”).

In parallel, Fairstone Bank of Canada (“Fairstone Bank”), Canada’s leading alternative lender and a Schedule I bank, has entered into a definitive agreement (the “Acquisition Transaction Agreement”) to acquire all issued and outstanding common shares of Laurentian Bank (the “Laurentian Bank Shares”) (the “Acquisition Transaction” and, collectively with the Retail/SME Transaction, the “Transactions”). Fairstone Bank will combine its commercial lending operations with Laurentian Bank’s commercial specialization, leveraging the expertise of both organizations to strengthen capabilities and expand market presence. Laurentian Bank will retain its brand identity and head office in Montreal, continuing its legacy of over 175 years. Éric Provost will continue to serve as Laurentian Bank’s President and CEO, spearheading the accelerated execution of its strategic growth plan with a concentrated focus on commercial banking activities.

These coordinated transactions reflect a shared commitment to supporting a strong and competitive Canadian banking system, creating value for shareholders and customers, and reinforcing Québec’s leadership within the national financial landscape.

Until the Transactions close, Laurentian Bank’s daily operations will continue as usual and in the normal course, and stakeholders are not expected to see any immediate changes. At conversion, all branches of Laurentian Bank located in Québec will be closed by Laurentian Bank. Both National Bank and Fairstone Bank have proven expertise in managing successful integrations, ensuring seamless continuity and superior service throughout the transition period.

Complementary Strengths for Enhanced Service

The Acquisition Transaction will provide Fairstone Bank additional scale and accelerate growth in commercial real estate across the country, particularly in Québec. It also adds complementary business lines in inventory and equipment financing. The Laurentian Bank brand will be retained.

“We view Québec as a key market and are excited to continue building our presence with the expertise we’re acquiring from Laurentian Bank,” said Scott Wood, President and CEO of Fairstone Bank. “This transaction strengthens Fairstone Bank’s competitive position, diversifies revenue streams, and deepens our national lending footprint. It’s a disciplined step forward that is very much aligned with our value creation plan.”

“This announcement is aligned with the acceleration of Laurentian Bank’s commercial specializations, as announced in our 2024 Strategic Plan,” said Éric Provost, President and CEO of Laurentian Bank. “Joining forces with Fairstone Bank will allow us to grow our specialized commercial business even further, while maintaining our brand identity and head office in Montreal, where we were founded over 175 years ago. Partnering with National Bank will allow our customers to benefit from a broader range of services and improved, modern technology.”

“Leveraging our strong presence in Québec, this transaction aligns with our domestic growth strategy and is a natural fit,” stated Laurent Ferreira, President and CEO of National Bank. “We look forward to welcoming Laurentian Bank’s retail, SME, and syndicated loan clients, who will soon benefit from National Bank’s leading digital services, an expanded range of financial products, and access to our extensive branch network and business banking teams.”

Commitment to Employees and Stakeholders

Fairstone Bank, Laurentian Bank and National Bank are committed to transparency and ongoing communication with employees and stakeholders. They will work together to ensure a smooth transition. Detailed integration plans will be shared in due course to provide clarity and support throughout the transition period.

Pursuant to the National Bank Transactions, Laurentian Bank’s branches and employees will not be transferred to National Bank. Once the Transactions are completed, affected Laurentian Bank employees who are interested will be able to apply for open roles at National Bank through a dedicated channel.

National Bank will preserve Laurentian Bank’s longstanding commitment to community investment by doubling its corporate philanthropic program, ensuring continuity and amplifying impact for the future.

Shareholder Support

La Caisse (“La Caisse”), which holds approximately 8% of the Laurentian Bank Shares, has entered into a voting and support agreement under which it has agreed to vote in favour of the Acquisition Transaction, subject to certain conditions.

“La Caisse is supportive of this transaction and considers it to be a positive outcome for shareholders in light of the competitive landscape and strategic review initiated by the board of Laurentian Bank,” said Kim Thomassin, Executive Vice President and Head of Québec of La Caisse.

“Our support is also predicated on the fact that the proposed offer is attached to guarantees obtained regarding maintaining Laurentian Bank’s commercial head office locally and moving Fairstone Bank’s head office to Montreal, Québec. In addition, with National Bank participating in the transaction, Laurentian Bank’s retail clients will continue to be served by a solid and growing Québec bank of which we are the largest shareholder,” she added.

Complementary Legal Information

Acquisition Transaction Details
Under the terms of the Acquisition Transaction Agreement, Fairstone Bank will acquire all of the issued and outstanding common shares of Laurentian Bank at a price per Laurentian Bank Share of $40.50, in cash, representing a premium of approximately 20% over the closing price of the Laurentian Bank Shares of $33.76 on the Toronto Stock Exchange (the “TSX”) on December 1st, 2025, the last trading day prior to the announcement of the Acquisition Transaction, and a premium of approximately 22% over the 20-day volume-weighted average trading price of the Laurentian Bank Shares for the period ended on December 1st, 2025. The total cash consideration payable under the Acquisition Transaction is approximately $1.9 billion. The Acquisition Transaction will provide Laurentian Bank Shareholders with immediate liquidity and certainty of value.

The Acquisition Transaction is subject to approval of 662/3% of the votes cast by Laurentian Bank Shareholders at a special meeting of Laurentian Bank Shareholders (the “Meeting”) expected to be held in the first quarter of 2026 to approve an amendment to Laurentian Bank’s by-laws to provide for the acquisition of the Laurentian Bank Shares pursuant to the terms of the Acquisition Transaction Agreement. The Acquisition Transaction Agreement contains customary non-solicitation covenants on the part of Laurentian Bank, subject to customary “fiduciary out” provisions, as well as “right to match” provisions in favour of Fairstone Bank. A termination fee of $40 million would be payable by Laurentian Bank to Fairstone Bank in certain circumstances, including in the context of a superior proposal supported by Laurentian Bank’s board of directors (the “Laurentian Bank Board”). A reverse termination fee of $40 million would be payable by Fairstone Bank to Laurentian Bank in certain circumstances where key regulatory approvals are not obtained prior to the outside date.

The Acquisition Transaction is subject to the closing of the Retail/SME Transaction and will close on the date of, and immediately following, the closing of the Retail/SME Transaction, subject to customary closing conditions, including receipt of key regulatory approvals. The Acquisition Transaction is not subject to any financing condition.

Assuming the timely receipt of all required key regulatory approvals and shareholder approval, and the satisfaction of other customary closing conditions, the Transactions are expected to close by late 2026.

Following completion of the Transactions, it is expected that the Laurentian Bank Shares will be delisted from the TSX. However, Laurentian Bank’s Non-Cumulative Class A Preferred Shares, Series 13, Non-Cumulative 5-Year Fixed Rate Reset Class A Preferred Shares, Series 17, 5.30% Limited Recourse Capital Notes, Series 1 and 5.095% subordinated non-viability contingent capital notes are expected to remain outstanding in accordance with their terms following the completion of the Transactions. Laurentian Bank’s Non-Cumulative Class A Preferred Shares, Series 13 will continue to be listed on the TSX and, as a result, Laurentian Bank will continue to be a reporting issuer under applicable Canadian securities laws following completion of the Transactions.

National Bank Transactions Details
Immediately prior to the closing of the Acquisition Transaction, National Bank will acquire certain assets and assume certain liabilities related to the retail and SME banking sector being exited by Laurentian Bank in the Retail/SME Transaction pursuant to a definitive asset purchase agreement entered into concurrently with the Acquisition Transaction Agreement (the “Retail/SME Agreement”). As at July 31, 2025, the retail loans and deposits totalled approximately $3.3 billion and $7.6 billion, respectively, while the SME loans and deposits totalled approximately $0.8 billion and $0.6 billion, respectively.

In addition, the Retail/SME Agreement provides that National Bank will assume the distribution agreement for certain mutual funds. As at July 31, 2025, the underlying mutual funds totalled approximately $3.4 billion.

The closing of the Retail/SME Transaction is conditional on all conditions precedent to the closing of the Acquisition Transaction having been satisfied or waived and will occur immediately prior to the closing of the Acquisition Transaction. The Retail/SME Agreement includes terms and conditions that are customary for transactions of this nature. The Retail/SME Transaction is not subject to the approval of Laurentian Bank Shareholders and is subject to customary closing conditions, including receipt of key regulatory approvals.

None of the employees or retail branches of Laurentian Bank will be transferred to National Bank. Laurentian Bank will be responsible for closing its branches and terminating the employment of certain employees (or reassigning them to other lines of business or to Fairstone Bank or its affiliates) prior to the closing of the Retail/SME Transaction.

A termination fee of $10 million would be payable by Laurentian Bank to National Bank in certain circumstances, including in the context of a termination of the Retail/SME Agreement resulting from a termination of the Acquisition Transaction Agreement to accept a superior proposal. A reverse termination fee of $10 million would be payable by National Bank to Laurentian Bank in certain circumstances where key regulatory approvals are not obtained prior to the outside date.

Separately, concurrently with the execution of the Retail/SME Agreement, Laurentian Bank and National Bank have also entered into a definitive loan purchase agreement in respect of the Syndicated Loan Transaction. As at July 31, 2025, the syndicated loans totalled approximately $0.9 billion. The closing of the Syndicated Loan Transaction is not conditional upon the closing of the Retail/SME Transaction or the Acquisition Transaction. The Syndicated Loan Transaction is expected to close in approximately three months, subject to customary closing conditions.

The National Bank Transactions will be fully settled in cash and cash equivalents, with the final consideration based on outstanding balances at closing. If the purchase price was calculated as at July 31, 2025, the result would approximate net book value.

The National Bank Transactions are expected to be accretive to National Bank’s adjusted earnings per share by approximately 1.5% to 2% in the first year following the closing of the Retail/SME Transaction and marginally accretive to adjusted return on equity, before any potential revenue synergies. Collectively, the National Bank Transactions are expected to reduce National Bank’s Common Equity Tier 1 ratio by approximately 25 to 30 basis points, of which approximately 5 basis points relate to the Syndicated Loan Transaction, with the regulatory capital treatment expected to be under the Standardized Approach at each closing.

For further details on the National Bank Transactions, please refer to National Bank’s Transaction Fact Sheet made available on National Bank’s website.

Board Support, Fairness Opinions and Laurentian Bank Shareholder Meeting Matters

The Transactions are the result of a comprehensive negotiation process between Laurentian Bank, Fairstone Bank and National Bank.

The Laurentian Bank Board established a special committee of independent directors to oversee, support and assist management in connection with the Transactions (the “Special Committee”). Each of J.P. Morgan Securities Canada Inc. (“J.P. Morgan”), as lead financial advisor to Laurentian Bank, and Blair Franklin Capital Partners Inc. (“Blair Franklin”) provided a verbal fairness opinion to the Special Committee and the Laurentian Bank Board to the effect that, as of December 1, 2025, subject to the assumptions, limitations and qualifications communicated to the Special Committee and the Laurentian Bank Board, and to be contained in their respective written fairness opinions (collectively, the “Fairness Opinions”), the consideration to be received by Laurentian Bank Shareholders for their Laurentian Bank Shares under the Acquisition Transaction is fair, from a financial point of view, to such shareholders.

The Special Committee, after receiving the Fairness Opinions as well as legal and financial advice, and after considering several factors which will be outlined in public filings to be made by Laurentian Bank, has unanimously recommended to the Laurentian Bank Board to approve the Transactions and recommend to Laurentian Bank Shareholders to vote in favour of the Acquisition Transaction at the Meeting.

The Laurentian Bank Board has evaluated the Transactions with Laurentian Bank’s management and legal and financial advisors and has unanimously determined, after receiving the Fairness Opinions and the unanimous recommendation of the Special Committee, and after considering several factors which will be outlined in public filings to be made by Laurentian Bank, that the Transactions are in the best interests of Laurentian Bank and that the Acquisition Transaction is fair to Laurentian Bank Shareholders, and to recommend that the Laurentian Bank Shareholders vote in favour of the Acquisition Transaction at the Meeting.

La Caisse, the Board members of Laurentian Bank and its Executive Office members have entered into voting and support agreements pursuant to which they have agreed, among other things, to support and to vote all Laurentian Bank Shares held in favour of the Acquisition Transaction, subject to certain customary conditions.

Important Additional Information and Where to Find It
Copies of the Fairness Opinions, as well as additional details regarding the terms and conditions of the Transactions and the rationale for the recommendations made by the Special Committee and the Laurentian Bank Board, will be set out in the management information circular to be mailed to Laurentian Bank Shareholders in connection with the Meeting and filed by Laurentian Bank on its profile on SEDAR+ at www.sedarplus.ca. Copies of the Acquisition Transaction Agreement, the Retail/SME Agreement and the form of support and voting agreement will be available under Laurentian Bank’s profile on SEDAR+ at www.sedarplus.ca.

Avisors
J.P. Morgan is acting as lead financial advisor and Osler, Hoskin & Harcourt is acting as legal counsel to Laurentian Bank. Norton Rose Fulbright is acting as counsel to Laurentian Bank on diverse regulatory matters. Blair Franklin is acting as independent financial advisor to the Special Committee. National Bank Capital Markets is acting as financial advisor and both Torys LLP and Stikeman LLP are acting as legal advisors to Fairstone Bank. McCarthy Tétrault LLP is acting as legal advisor to National Bank.

About Laurentian Bank

Founded in Montreal in 1846, Laurentian Bank is committed to serving its customers and fostering deep relationships with specialized groups. Laurentian Bank runs operations across Canada – primarily in Québec and Ontario – as well as in the United States and competes where it sees market opportunity and has an edge, while harnessing the power of partnerships and collaboration.

About Fairstone Bank

Fairstone Bank of Canada and its subsidiaries, including Fairstone Financial Inc. and Home Trust Company, deliver innovative, accessible and reliable financial solutions that enable Canadians to reach their financial goals. Collectively, we offer residential and commercial mortgages, consumer deposits and GICs, retail and automobile financing, credit cards and digital lending, in addition to unsecured and secured personal loans online and at more than 255 branches coast to coast. With a long-established history, we are proud to be Canada’s leading alternative lending bank. Learn more at fairstone.ca.

About National Bank

With $553 billion in assets as at July 31, 2025, National Bank is one of Canada’s six systemically important banks. The Bank has approximately 34,000 employees in knowledge-intensive positions and operates through three business segments in Canada: Personal and Commercial Banking, Wealth Management and Capital Markets. A fourth segment, U.S. Specialty Finance and International, complements the growth of its domestic operations. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities at nbc.ca or via social media.

* * *

Non-GAAP Financial Measures
This press release contains references to certain financial measures and ratios such as “adjusted earnings per share”, “adjusted return on equity”, and “Common Equity Tier 1 ratio” that do not have standardized meanings under GAAP and therefore should not be confused with, or used as an alternative for, performance measures calculated according to GAAP. Furthermore, these measures should not be compared with similarly titled measures provided or used by other issuers. For more information on the non-GAAP financial and other measures used by National Bank in this press release, refer to the “Financial Reporting Method” section on pages 14 to 20 of National Bank’s 2024 Annual Report.

Caution Regarding Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects”, “is expected”, “an opportunity exists”, “budget”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projects”, “projection”, “prospects”, “strategy”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or, “will”, “occur” or “be achieved”, and similar words or the negative of these terms and similar terminology. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information.

Specifically, statements regarding the anticipated benefits of the Acquisition Transaction and the National Bank Transactions (collectively, in this section only, the “Transactions”) for Laurentian Bank, Laurentian Bank Shareholders, other Laurentian Bank stakeholders, Fairstone Bank, and National Bank, including, plans, objectives, expectations and intentions of Laurentian Bank, Fairstone Bank or National Bank; statements regarding the timing and receipt of Laurentian Bank Shareholder approval or regulatory approvals in respect of the Transactions; anticipated timing of the Meeting; the satisfaction of the conditions precedent to the Transactions; the proposed timing and completion of the Transactions; the closing of the Transactions and the delisting from the TSX; and other statements that are not statements of historical facts are all considered to be forward-looking information.

Statements containing forward-looking information are not historical facts but instead represent expectations, estimates and projections of management of Laurentian Bank, Fairstone Bank or National Bank, as applicable, regarding future events or circumstances. This forward-looking information is based on opinions, estimates and assumptions that, while considered by Laurentian Bank, Fairstone Bank and National Bank to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the risk that the Transactions will not be completed on the terms and conditions, or on the timing, currently contemplated; that the Transactions may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required Laurentian Bank Shareholder and regulatory approvals and other conditions to the closing of the Transactions or for other reasons; the risk that competing offers or acquisition proposals will be made; the negative impact that the failure to complete the Transactions, for any reason, could have on the price of the Laurentian Bank Shares or on the business of Laurentian Bank; the possibility of adverse reactions or changes in business relationships resulting from the announcement or completion of the Transactions; risks relating to Laurentian Bank’s ability to retain and attract key personnel during and following the interim period; the possibility of litigation relating to the Transactions; credit, market, currency, operational, liquidity and funding risks generally and relating specifically to the Transactions, including changes in economic conditions, interest rates or tax rates; and those other risks discussed in greater detail under the “Risk Factors” section of Laurentian Bank’s most recent annual information form and in other filings that Laurentian Bank has made or may make with securities regulatory authorities in the future, which are available under Laurentian Bank’s profile on SEDAR+ at www.sedarplus.ca. If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although Laurentian Bank, Fairstone Bank and National Bank have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to such parties or that they presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information.

There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in forward-looking statements included herein. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, any forward-looking statements included herein are made as of the date of this news release and, except as expressly required by applicable law, each of Laurentian Bank, National Bank and Fairstone Bank assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

No Offer or Solicitation
This press release is for informational purposes only and shall not constitute an offer to purchase or a solicitation of an offer to sell any securities, or a solicitation of a proxy of any securityholder of any person in any jurisdiction. Any offers or solicitations will be made in accordance with the requirements under applicable law. Shareholders are advised to review any documents that may be filed with securities regulatory authorities and any subsequent announcements because they will contain important information regarding the Transactions and the terms and conditions thereof. The circulation of this press release and the Transactions may be subject to a specific regulation or restrictions in some countries. Consequently, persons in possession of this press release must familiarize themselves and comply with any restrictions that may apply to them.

– 30 –

For more information

Categories: News

Tags:

Stonepeak Acquires Student Housing Portfolio

Stonepeak

NEW YORK, NY – December 2, 2025 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the acquisition of a portfolio of three purpose-built student housing assets with approximately 2,300 beds in partnership with Cardinal Group.

The portfolio’s assets are located on average 0.1 miles from campus at leading four-year public universities across the Sunbelt with an average enrollment of approximately 40,000 students. The Class A properties feature a wide range of best-in-class amenities and were built on average in 2020.

“This acquisition reflects our conviction in the resilience and long-term fundamentals of well-located student housing, and we are excited to add these assets to our portfolio,” said Phill Solomond, Senior Managing Director and Head of Real Estate at Stonepeak. “With growing enrollment trends and embedded demand for assets adjacent to campus, we look forward to delivering both high-quality living experiences for students and strong performance for our investors.”

Stonepeak’s real estate team invests thematically in real estate assets that demonstrate infrastructure characteristics. The team invests in high conviction sectors including supply chain, residential, healthcare, and technology real estate. With the benefit of the strength and insights of the broader Stonepeak platform, the team targets opportunities supported by strong macro tailwinds that have durable cash flow profiles, embedded demand drivers, high barriers to entry, inflation protection, and are mission critical to the businesses and communities they serve.

Simpson Thacher & Bartlett LLP served as legal counsel and Jones Lang LaSalle served as financial advisor to Stonepeak and Cardinal Group.

About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $80 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit www.stonepeak.com.

About Cardinal Group
Cardinal Group Companies (“CGC”) is a fully integrated real estate management, investment, construction, consulting, and marketing firm focused on multifamily and student housing throughout the country. Headquartered in Denver, Colorado, CGC affiliate companies are all firmly built atop the company’s “Cardinal Culture.” Since 2007, CGC has been operating successful partnerships, focused on creating efficiency and above-market performance via their commitment to challenging the status quo of the industry. Cardinal Group Companies’ management platform oversees over 100,000 student housing beds and more than 11,000 conventional and affordable housing units nationwide.

Contacts

For Stonepeak
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (212) 907-5100

For Cardinal Group
PR@CardinalGroup.com

Categories: News

Tags:

EQT completes public offering of common stock of Kodiak Gas Services

eqt
  • The offering resulted in gross proceeds of approximately USD335.5 million

Frontier TopCo Partnership, L.P. (the “Selling Stockholder”), an affiliate of the funds known as EQT Infrastructure III and EQT Infrastructure IV, is pleased to announce the completion of an underwritten public offering (the “Offering”) of 9,762,573 shares of common stock of Kodiak Gas Services, Inc. (NYSE: KGS) (the “Company”) for gross proceeds of approximately USD335.5 million. Goldman Sachs & Co. LLC acted as the underwriter for the Offering, which was completed on December 2, 2025. The Company did not sell any shares of its common stock in the Offering and did not receive any proceeds from the sale of the shares of its common stock sold by the Selling Stockholder.

Contact

EQT Press Office, press@eqtpartners.com

Downloads

About EQT

EQT is a purpose-driven global investment organization with EUR 267 billion in total assets under management (EUR 139 billion in fee-generating assets under management) as of 30 September 2025, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership

More info: www.eqtgroup.com
Follow EQT Real Estate on LinkedIn 

About Kodiak

Kodiak is a leading contract compression services provider in the United States, serving as a critical link in the infrastructure that enables the safe and reliable production and transportation of natural gas and oil. Headquartered in The Woodlands, Texas, Kodiak provides contract compression and related services to oil and gas producers and midstream customers in high–volume gas gathering systems, processing facilities, multi-well gas lift applications and natural gas transmission systems.

Categories: News

Tags:

Asurion to acquire Domestic & General, establishing a global leader in technology and appliance care committed to excellence in customer service

CVC Capital Partners

The combined company will accelerate Asurion’s vision to become CTO of the home, by delivering seamless, intelligent care for every connected device and appliance in the home and making technology simpler, more reliable, and more sustainable for millions of customers 

Asurion, a global leader in technology care, support, and protection, today announced it has reached a definitive agreement to acquire Domestic & General, one of the largest appliance care providers across the UK and Europe.

Asurion has distinguished itself by delivering world-class customer experiences and deep partnerships with major wireless carriers, OEMs, and retailers. As a result of these innovative solutions, Asurion has built a customer base of more than 230 million customers around the world, more than half of which have recurring subscriptions for its services.

The combined company will provide customers worldwide with a single, trusted provider for every device and appliance, ensuring faster service and a more seamless experience.

Together, Asurion and Domestic & General unite omnichannel scale with deep service expertise to meet the rapid convergence of technology and appliances head on. Asurion will extend its leadership in the fast-growing, $154 billion connected home devices market. The combination will broaden Asurion’s customer-end markets, extend its geographic reach and create new channel partnerships. Domestic & General will gain access to Asurion’s deep global market expertise, service infrastructure and digital capabilities, including innovations like predictive diagnostics, intelligent logistics and AI-powered service to accelerate its successful growth.

Domestic & General has a legacy of over 110 years in appliance care, with a growing repair network of more than 25,000 independent engineers. It is trusted by millions of households and partners with leading manufacturers and retailers such as Whirlpool, Sky, Hoover-Candy, and John Lewis. With a growing book of 6.8 million subscription customers, Domestic & General has a proven track record of financial strength, delivering over two decades of uninterrupted organic revenue growth. Upon closing, Domestic & General will continue to operate under its brand as a business unit of Asurion.

“Our vision is to be the CTO of the home, and we are focused on delivering world-class customer experiences by making technology work better for everyone,” said Guru Gowrappan, Chief Executive Officer of Asurion. “Domestic & General’s deep customer relationships and expertise in appliance protection make them a natural, highly complementary partner as we expand our support of every connected device and appliance in the home. We look forward to welcoming the Domestic & General team to Asurion as we work together to elevate the standard for industry-leading customer experience globally.”

Domestic & General is being acquired from certain funds (“CVC Funds”) advised by CVC Capital Partners (“CVC”) and Luxinva S.A., an entity wholly-owned by the Abu Dhabi Investment Authority (“ADIA”).

“Asurion and Domestic & General are united by a shared commitment to customer and partner excellence, sustainability, and innovation in their respective sectors. At Domestic & General we have built over a century of trust in our services, and we are the cornerstone of appliance care in millions of homes,” said Matthew Crummack, Chief Executive Officer of Domestic & General. “Joining Asurion is a natural fit given our complementary business models, bringing fresh and exciting growth opportunities for the people and the business, while creating stronger outcomes for our customers. I’d like to personally thank CVC and ADIA for their consistent support and trust throughout this last investment cycle.”

Quotes

Under CVC’s and ADIA’s ownership, Domestic & General has transformed from a UK-focused warranty provider into a global, subscription-based and digitally-enabled appliance care leader.

Pev HooperManaging Partner at CVC

Pev Hooper, a Managing Partner at CVC said, “Under CVC’s and ADIA’s ownership, Domestic & General has transformed from a UK-focused warranty provider into a global, subscription-based and digitally-enabled appliance care leader. It surpassed £1 billion ($1.32 billion) in annual revenue, expanding into 12 markets whilst establishing a major business in the US. We are proud of how Domestic & General has grown and wish Asurion and Matthew and his team every success in building on this strong platform.”

The transaction is expected to close in mid-2026 subject to regulatory approvals.

The terms of the transaction were not disclosed.

Categories: News

Tags:

Volve Capital closes its first €9 million fund to back tech founders at the earliest stages

Volve Capital

volve_image

Amsterdam, 2 December 2025 – Volve Capital is proud to announce the final close of its first fund at €9 million, dedicated to investing in startups in their earliest stages across the Benelux and DACH regions.

Founded by Dutch entrepreneurs Joost Bijlsma (30) and Maurits Hovius (32), Volve Capital was built on a simple insight: early-stage founders need investors who actually understand what “day zero” feels like. Having experienced the process of building companies from scratch, both as founders and as investors, Bijlsma and Hovius created Volve Capital to be the partner they once needed.

Unlike traditional venture capital funds, Volve Capital operates with the speed, energy, and pragmatism of the startups it backs. Supported by a network of operators, Volve Capital helps founders level up in tech, data, GTM, marketing, ops, and finance – giving them the momentum they need right from the start.

After twelve months of fundraising, Volve Capital officially launches its first fund, Fund I, at €9 million. The fund focuses on pre-seed (very early) stage companies, with initial investments ranging from €150,000 to €500,000 and follow-on capacity of up to €1 million per company. Volve Capital plans to make approximately 12 to 15 investments in total, seven of which have already been completed in the startups Eddygrid, NOX Energy, Stippl, Conservio, Whisper, Twindo and Supplied.

“Founders need the right partner from the very beginning. Going from zero to one is the hardest step – I’ve lived it. We want to be that partner; offering capital and, more importantly, support,” says Joost Bijlsma.

“There’s plenty of funding available in the ecosystem once founders start to show traction, but at day zero it’s still often hard to find – especially when looking for investors willing to take the lead in these early rounds. That’s exactly where we step in. And yes – we actually do lead pre-product and pre-revenue deals,” Maurits Hovius adds.

Fund I is supported by approximately 30 Dutch entrepreneurs as limited partners, including Henk Jan Beltman (Tony’s Chocolonely), Roelof Bijlsma (former founder of Conclusion), Heleen Dura van Oord (Peak Capital), and Mathieu Zwinkels (former Waterland), who also serve on Volve Capital’s advisory board. Additional financial backing was provided through the RVO Seed Capital program.

After completing all 12 to 15 investments, Volve Capital aims to continue its mission with the launch of a second fund.

About Volve Capital

Volve Capital is an early-stage venture fund founded in 2024 by Joost Bijlsma and Maurits Hovius, investing in ambitious founders across the Benelux and DACH regions. By combining capital with operational expertise, Volve helps teams build faster, scale smarter, and create lasting value.

Categories: News

Tags:

Stonepeak and Energy Equation Partners Complete Acquisition of Majority Interest in JET

Stonepeak

LONDON & HOUSTON – December 1, 2025 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and Energy Equation Partners (“EEP”), an investment firm with significant expertise in fuel retail, today announced the completion of their previously announced acquisition of a 65% interest in JET Tankstellen Deutschland GmbH (“JET”), a leading fuel retailer in Germany and Austria, from a subsidiary of Phillips 66 (NYSE: PSX), in a transaction valuing the business at an enterprise value of approximately €2.5 billion.

“We are delighted to complete this acquisition and to partner with Stonepeak and Phillips 66 to take JET to the next level,” said Javed Ahmed, Managing Partner of Energy Equation Partners. “This investment reflects EEP’s commitment to investing in established players in the energy sector who have the potential to make a meaningful impact on the energy transition, and we are excited to work alongside the entire JET team, including its dedicated service station operators, to realize this vision.”

“The completion of this transaction marks an important step forward for JET,” said Anthony Borreca, Senior Managing Director and Co-Head of Energy at Stonepeak. “With its extensive network of service stations, trusted brand, and the combined expertise that we and EEP bring, JET is well positioned to continue providing reliable service to its customers across Germany and Austria.”

Akin Gump Strauss Hauer & Feld LLP and Hengeler Mueller served as legal counsel to Stonepeak and EEP. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as financing counsel to Stonepeak and EEP.

About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $80 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit www.stonepeak.com.

About Energy Equation Partners
Energy Equation Partners is an energy specialist investment firm that seeks to invest in companies that are well established in the energy sector and have the potential to play a valuable role in the shift from “brown to green”. Over the past two decades, the principals of EEP have deployed over $10 billion of equity capital across the energy value chain globally and have significant experience in fuel retail.

Contacts

For Stonepeak:
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (646) 540-5225

For Energy Equation Partners:
Sari Haidar
sari@energyequationpartners.com
+44 75 5112 5113

Categories: News

Tags:

Edizione, the Benetton family’s long-term holding company,is joining 21 Invest’s capital to support its next phase of platform development

Treviso, December 1, 2025 – Edizione, 21 Invest and Tages have reached a preliminary agreement for the creation of 21 Next, an innovative alternative asset manager dedicated to private markets. Upon completion of the transaction, the newly created platform will wholly own 21 Invest and Tages. The founding shareholders of the two companies as well as their respective senior managers will reinvest in significant minority stakes in the new entity, ensuring strategic continuity and alignment with investor interests.

Alessandro Benetton is appointed Chairman of 21 Next, with Panfilo Tarantelli taking the role of CEO.

21 Next will leverage its Italian roots to pursue an innovative, industrially focused international approach to offer a diverse range of complementary private market strategies. The new platform will operate through a wholly owned asset management company, capitalising on 21 Invest’s expertise in Private Equity and Venture Capital, along with Tages’s experience in Energy Transition, Infrastructure and Private Credit. This combined industry know-how will underpin an ambitious expansion plan across Europe, focusing on high-potential investment sectors with significant global growth opportunities.

With the backing of its founding partners, 21 Next aims to at least double its assets under management to over €10 billion in the coming years. The new vehicle will continue to invest across Europe, a particularly dynamic market with an average annual growth of over 8%, a trend expected to continue. Its highly fragmented nature combined with an attractive growth potential provide meaningful consolidation opportunities.

This flexible investment model also opens pathways to future partnerships with leading market operators.

21 Next will harness the diversified and complementary expertise of each of the three founding partners. The management of 21 Invest and Tages will continue to manage their existing funds, and drive the launch of new ones under the 21 Next’s umbrella, providing investors with a broader, more international platform.

21 Next will also benefit from €500 million in seed capital from Edizione to fund ambitious new initiatives. The platform will deliver strategic business development and coordinate the expertise of its three founders:

Edizione, a financial and industrial holding company valued over €14 billion, and active in more than 100 countries through 15 leading companies. Edizione brings a vast global partnership network and extensive know-how in the sectors in which it operates, fostering business synergies and supporting international growth. Cross-sector diversification and pollination is central to Edizione’s growth strategy.

21 Invest, founded by Alessandro Benetton in 1992, with approximately €1.5 billion of AUM, has for the last 30 years been one of Europe’s leading private equity firms focusing on the small & mid-cap sector, with offices in Italy and France and a growing presence in Spain. Having invested over €2 billion in the growth and industrial development of more than 110 Italian and French SMEs since inception, 21 Invest has delivered aggregate portfolio company sales growth of 70% and created over 10,000 jobs. Its extensive experience investing in Europe will play a key role in the platform’s future expansion. The firm has recently launched a new healthcare-focused fund.

Tages, founded by Panfilo Tarantelli, Sergio Ascolani and Salvatore Cordaro in 2011, with Umberto Quadrino as current CIO and Chairman, boasts a seasoned international management team. Tages is a leader in renewable energy –Italy’s second-largest solar energy producer with installed capacity of approximately 1 GW – and infrastructure and energy transition sectors, with AUM of approximately €1.4 billion and over €3 billion in invested capital. Recent investment strategy expansions include the launch of the Tages Credit Fund. Tages is also about to launch Tages Infra Plus, a new fund dedicated to value-add infrastructure investment opportunities, focused on the mid-market.

Guided by sustainable investment principles, the three founding partners will collectively strengthen 21 Next’s platform, combining complementary expertise and driving innovation across their respective asset classes.

Transaction closing is anticipated by the summer of 2026, subject to necessary clearances and customary regulatory approvals.

Categories: News

Fusable leverages Reltio’s real-time intelligence capabilities to revolutionize its customer data solutions.

.406 Ventures

reltio seo image

Redwood Shores, CA and Charlotte, NC — December 1, 2025 — Reltio®, a leader in real-time data intelligence, and Fusable, a leader in data-driven solutions for the trucking, agriculture, and construction industries, today announced their collaboration using Reltio Data Cloud to deliver enhanced functionality to Fusable’s customers as well as improved internal efficiencies.

Fusable’s decision to select Reltio was the result of a vigorous evaluation process, centered on a thorough review of business requirements and a successful proof of concept (POC). A key factor that stood out was the Reltio POC team’s expertise, which provided exceptional detail and helped Fusable translate its requirements into actionable solutions. The POC successfully validated Reltio’s ability to ingest and manage data from multiple sources, ensure data quality and governance, manage complex company hierarchies, and enable real-time data synchronization.

“Our search for a unified, trusted data solution was driven by two needs–to improve the efficiency of our data management and to provide an enhanced experience for our customers,” said Matthew Cox, Chief Data Officer at Fusable. Our data landscape spans complex and diverse sources, making data unification across fragmented datasets challenging and resource-intensive. With Reltio’s capabilities, we can now deliver a unified, seamless view of our data—creating a powerful competitive advantage for our customers.”

Since going live, Fusable has achieved its goal of gaining a unified view of its product data—a significant milestone. The implementation automatically clusters records from multiple distinct sources, revealing new business opportunities through cross-source data. The consolidation has had an immediate impact on data quality, drastically reducing the manual stewardship workload.

Reltio’s unified data capabilities are central to Fusable’s long-term strategy, empowering it to deliver a single, trusted view of data across all products. This unified foundation will fuel the next generation of Fusable solutions—from prospecting and market intelligence to risk assessment and performance management. In the near term, Fusable is expanding Reltio mastering to include internal corporate data and developing a robust data governance framework, with Reltio serving as the core platform for our data stewards.

“We were pleased to collaborate with Fusable on their quest to tap into the tremendous power of their data using our innovative platform, which helps them build trust and get the most value from this unified data,” said Ansh Kanwar, Chief Product Officer at Reltio. “Organizations across all industries rely on data from myriad sources tracking information about their customers, suppliers, geographic markets, regulatory compliance and much more. The need for accurate, real-time insights generated from unified data will become even more critical as organizations continue to embrace agentic AI to better serve their customers.”

“Reltio” is a registered trademark, and “Reltio AgentFlow” and “Reltio Data Cloud” are each trademarks of Reltio, Inc. All Rights Reserved.

About Fusable

Fusable is a leading provider of data-driven solutions for industrial and infrastructure markets and the financial services ecosystem that supports them. Focused on innovation and customer-centricity, Fusable leverages extensive datasets to help businesses understand markets, drive sales and manage risk. Fusable is known for its flagship brands, including EDA, Iron Solutions, Central Analysis Bureau, RigDig BI, Price Digests, and EquipmentWatch. Discover more at fusable.com.

Contact

Reltio
Mary Ellen Higgins
781.789.1911
maryellen@satuitgroup.com

Fusable
Michelle Reyes
321-805-1607
michellereyes@fusable.com

Categories: News

Tags: