Category Archives: News

Cottonwood’s portfolio company Orange Quantum Systems developed the first industrial quantum chip testing device

Cottonwood’s portfolio company Orange Quantum Systems developed the first industrial quantum chip testing device.

The OrangeQS MAX is an important product for the quantum industry.

Quantum chip producers need to perform cryogenic testing on every single chip, so addressing testing is essential for them. When they want to scale up the size of their quantum chips and the quantum computers they are deployed in, testing becomes a significant bottleneck. The OrangeQS MAX addresses this, as the only turn-key test equipment for utility-scale quantum chips available in the market at the moment.

📰 Read more about the first OrangeQS MAX shipment here: https://lnkd.in/e22h_-c7

First OrangeQS MAX is shipped to IQM in Espoo, Finland

The first OrangeQS MAX has been shipped to the quantum chip fabrication facility of IQM in Espoo, Finland. Quantum chip producers still need to perform cryogenic end-of-line testing on every single chip and the OrangeQS MAX is currently the only turn-key test equipment for utility-scale quantum chips in the market.

Part of the crates with OrangeQS MAX components on their way to IQM in Espoo, Finland.

Part of the crates with OrangeQS MAX components on their way to IQM in Espoo, Finland.

 

In November 2024, we successfully completed the Factory Acceptance Test of our first OrangeQS MAX. This was followed by a memorable product launch and reveal of the launching customer of the OrangeQS MAX, namely IQM Quantum Computers.

The OrangeQS MAX is now shipped to the quantum chip fabrication facility of IQM in Espoo, Finland, where the OrangeQS deployment team will be assembling it onsite.

The OrangeQS MAX is an important product for the quantum industry. Quantum chip producers need to perform cryogenic testing on every single chip, so addressing testing is essential for them. When they want to scale up the size of their quantum chips and the quantum computers they are deployed in, testing becomes a significant bottleneck. The OrangeQS MAX addresses this, as the only turn-key test equipment for utility-scale quantum chips available in the market at the moment.

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Gilde Healthcare company GT Medical Technologies raises $37 million in to advance GammaTile® for patients with operable brain tumors

January 17, 2025
Tempe, Arizona (United States)

GT Medical Technologies, Inc. (GT MedTech), a medical device company with a corporate purpose of improving the lives of patients with brain tumors, today announced the company has completed a $37 million first close of a Series D financing round.

The financing was led by Evidity Health Capital, alongside new investor Accelmed Partners. Also participating were existing investors Gilde Healthcare, MVM Partners, and Medtech Venture Partners. The funds will accelerate the completion of the ROADS clinical study that is focused on GammaTile for newly diagnosed brain metastases, and the GESTALT clinical trial for patients with newly diagnosed glioblastomas (GBMs). In addition, the funds will support the continued commercialization of GammaTile®, the Company’s FDA cleared bioresorbable radiotherapy implant for the treatment of brain tumors.

By delivering tile-based radiation therapy directly into the surgical cavity at the time of tumor removal, GammaTile provides immediate, localized treatment. This approach targets remaining cancer cells when they are at their lowest levels to help prevent regrowth while minimizing radiation exposure to healthy brain tissue.

About GT Medical Technologies, Inc.
GT MedTech was founded by a dedicated team of brain tumor specialists to address unmet needs in brain tumor treatment. The company is committed to improving the lives of patients with brain tumors through innovative solutions that elevate the standard of care.

About GammaTile®
Since its initial market release in the United States in January 2019, GammaTile has been adopted by more than 100 leading centers, underscoring its growing acceptance in both academic and community healthcare settings. For more information, visit gammatile.com and follow @GammaTile on Facebook, Instagram, LinkedIn and X.

About Gilde Healthcare
Gilde Healthcare is a transatlantic specialist investment firm managing over €2.6 billion across two fund strategies: Venture&Growth and Private Equity. The Venture&Growth fund of Gilde Healthcare invests in fast growing companies active in digital health, medtech and therapeutics, based in Europe and North America. The Private Equity fund of Gilde Healthcare participates in profitable lower mid-market healthcare companies based in North-Western Europe. For more information, visit the company’s website at www.gildehealthcare.com.

 

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KKR and Gulf Data Hub Form Strategic Partnership to Scale One of the Middle East’s Largest Independent Data Center Platforms

  • Strategic partnership between a leading global investment firm and a leading UAE business with a regional footprint
  • KKR and GDH are committing to support over $5 billion of total investment to build-out data center capacity, supporting the significant rise in hyperscale demand, AI and digital-focused national priorities across the Gulf countries
  • First data center investment for KKR in the Middle East, adding to KKR’s unique global portfolio of four hyperscale platforms comprising several GW of deployed assets across 100+ facilities

DUBAI & LONDON & NEW YORK–(BUSINESS WIRE)– Gulf Data Hub (“GDH” or the “Company”), one of the largest independent data center platforms in the Middle East focused on serving hyperscale demand across the Gulf countries, and KKR, a leading global investment firm, today announced that funds affiliated with KKR will acquire a stake in GDH. The investment, which is subject to customary regulatory approvals, is being made through KKR’s Global Infrastructure strategy.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250117834785/en/

H.E. Dr Thani Bin Ahmed Al Zeyoudi and H.E. Omar Sultan Al Olama, presiding over the official signing of the strategic partnership between KKR and Gulf Data Hub by Tara Davies Co-Head of KKR EMEA and Co-Head of European Infrastructure and Tarek Al Ashram, CEO of Gulf Data Hub (GDH) (Photo: Business Wire)H.E. Dr Thani Bin Ahmed Al Zeyoudi and H.E. Omar Sultan Al Olama, presiding over the official signing of the strategic partnership between KKR and Gulf Data Hub by Tara Davies Co-Head of KKR EMEA and Co-Head of European Infrastructure and Tarek Al Ashram, CEO of Gulf Data Hub (GDH) (Photo: Business Wire)

Established in 2012 and headquartered in Dubai, GDH, is one of the largest independent carrier and vendor neutral data center platforms in the Middle East with significant operating capacity and pipeline of projects. With an owned portfolio of seven purpose-built and state-of-the art data centers in the UAE and Saudi Arabia, and additional facilities planned in Kuwait, Qatar, Bahrain and Oman, GDH is focused on delivering the infrastructure required to meet hyperscale demand across the region to support increasing data consumption driven by the growing trends in digital connectivity, cloud and artificial intelligence.

The transaction marks one of the largest international investments into a UAE-founded and managed business in a fast-growing sector that benefits from high demand and major competitive advantages, reaffirming the UAE’s leadership in accelerating digital and AI capabilities. Upon completion, KKR and GDH have committed to support over $5 billion of total investment to grow GDHs’ market leading position and to support its international growth plans through organic and inorganic strategies.

GDH has successfully built on its first mover advantage and leveraged its scalable platform and large powered landbank to create a sizeable pipeline of assets. The Company’s proven track record of data centre buildouts, reliable delivery of availability, performance, security and support for hyperscale customers, and successful operation of secure data centers which have been built to ensure continuous operation, have consolidated its position as a standout business in a rapidly growing sector.

Commenting on the transaction, His Excellency Omar Sultan Al Olama, UAE’s Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, who witnessed the signing ceremony in Dubai, remarked: “The UAE exemplifies visionary leadership, driving digital and AI capabilities to new heights. By transforming ambitious visions into the achievements we are witnessing today, it sets a global benchmark for innovation and progress. Through groundbreaking initiatives and strategic investments, the UAE is shaping a future where technology enhances lives, fuels economic prosperity, and unlocks boundless opportunities.”

Al Olama further added: “This milestone underscores the strength of the UAE’s digital economy, enhances the journey of growth, and aligns with the National Strategy for Digital Economy. Building on the momentum of 2024, marked by the launch of numerous data centers, it represents a strong start to 2025 and reaffirms the UAE’s dedication to strengthening its digital infrastructure. With an unwavering commitment to excellence, the UAE continues to lead, inspiring the world by advancing human potential and creating a smarter, more connected tomorrow.”

Tarek Al Ashram, Founder and CEO of Gulf Data Hub, said: “Today marks a milestone in our growth journey as we welcome KKR, a global leader in digital infrastructure investing, as a strategic partner in our business. Over the past 12 years, GDH has grown into one of the most successful data center platforms in the region, supporting the business needs of sophisticated cloud and enterprise software customers. The strategic partnership with KKR will enable us to leverage their deep expertise, positioning us to achieve our pan-regional ambitions and deliver on our mandate of being a partner and provider of choice.”

Tara Davies, Co-Head of KKR EMEA and Co-Head of European Infrastructure, added: “The Middle East is a fast-growing region for hyperscale deployment. With competitively priced and readily available sources of energy, an unmatched ability to serve as a gateway hub for Asia and Africa, and sustained government commitment to power the growth of the digital sector, we believe it is today one of the most attractive investment destinations for long-term capital. Our investment in GDH aligns with our conviction in digital infrastructure and enables us to leverage our global connectivity to drive value and accelerate the growth of a leading business in the region. It also reinforces KKR’s continued commitment to the Middle East, following our landmark investment in ADNOC Oil Pipelines as well our work with Etihad alongside Altavair AirFinance.”

Waldemar Szlezak, Global Head of Digital Infrastructure at KKR, said: “Today’s digital assets form the backbone of our data-driven society. With the world set to generate 1.5 times more digital data than just two years ago, the demand for data center capacity is skyrocketing. The ongoing migration to cloud computing and the rise of AI are not just trends; they are reshaping the landscape of digital infrastructure. As business requirements evolve, strategic investments such as the one we have forged with GDH will be crucial to harnessing the full potential of our digital future. We look forward to working with Tarek and his team to power their success together.”

KKR has had a presence in the Middle East for over 15 years, with offices in Dubai and Riyadh. Prior investments in the region include the strategic partnership with ADNOC to create ADNOC Oil Pipelines, which marked the first midstream infrastructure collaboration between a leading global institutional investor and a national oil company in the Middle East. KKR also acquired a portfolio of commercial aircraft from Etihad Airways in 2020 through aircraft leasing investment platform Altitude Aircraft Leasing, which was established by KKR’s credit and infrastructure funds in 2018 to acquire aircraft serviced by Altavair.

KKR first established its global infrastructure team and strategy in 2008 and has since been one of the most active infrastructure investors around the world with $77 billion in infrastructure assets under management as of September 30, 2024. To date, KKR has invested more than $29 billion across 22 investments in relevant digital infrastructure companies across data centers and fiber, as well as $15 billion in power, utilities, and energy.

KKR’s significant global data center footprint spans four platforms with several GW of deployed assets across over 100 facilities and more under development globally. These platforms include US-based global data center infrastructure provider CyrusOne, Singapore-based data center operators STT GDC and Nxera, and UK-based hyperscale data center developer, owner, and operator GTR. KKR’s portfolio also includes over 10 renewable energy developers with over 50 GW of global development pipeline.

Advancements in AI are fueling an unprecedented demand for data centers, but a limited availability of reliable power is impeding the strategic goals of the world’s largest technology companies, enterprises, and governments looking to deploy AI. To help address this, KKR has formed a $50 billion strategic partnership with Energy Capital Partners, the largest private owner of power generation and renewables in the US, designed to deliver scaled data center and power solutions for hyperscalers and other market participants to support the rapid expansion of AI and cloud computing globally.

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 GDH

Gulf Data Hub (GDH) is a leading provider of state-of-the-art data center solutions across the Middle East, offering highly secure, scalable, and sustainable infrastructure for businesses in the digital economy. Since its inception in 2012, GDH has consistently innovated and sought ways to minimize the risks associated with downtime while maximizing operational efficiency. With facilities strategically located in key markets, GDH provides colocation, cloud, and connectivity services to a diverse portfolio of clients, including global enterprises, governments, and hyperscale cloud providers. Committed to innovation, operational excellence, and environmental sustainability, GDH empowers its clients to thrive in a rapidly evolving digital landscape. For additional information about GDH, please visit the GDH website at www.gulfdatahub.ae

Media

Middle East:
Mitali Atal: mitali.atal@fgsglobal.com
Aditi Mane: aditi.mane@fgsglobal.com

United Kingdom:
Alastair Elwen: alastair.elwen@fgsglobal.com
Jack Shelley: jack.shelley@fgsglobal.com

Source: KKR

 

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Equistone-backed Talon acquires Out of Home Masters

Equistone Partners Europe (“Equistone”), today announces that it has supported its portfolio company, Talon, the global independent Out-of-Home (OOH) media agency, with the acquisition of Out of Home Masters, the largest independent OOH specialist in the Netherlands. The transaction is the third announced by Talon since Equistone invested in the business in 2022. The financial terms of the transaction remain undisclosed.

Founded in 2015 by Frank Hardenberg – former Managing Director of Wall Netherlands, CBS Outdoor and Exterion Media – Amsterdam-based OOH Masters has grown to become a major player in the Dutch OOH market. With an established presence across the Netherlands, Belgium, and Luxembourg, the agency delivers innovative, data-driven campaigns for renowned brands and agencies such as Havas Media, Talpa Radio & TV, Hunkemöller, Coolblue, Enterprise, and Tony Chocolonely.

Headquartered in London with offices in Dubai, Dublin, Frankfurt, Manchester, New York, San Diego, Nashville and Singapore, Talon works with global brands to deliver innovative media solutions for OOH at global, national and regional levels. Since investing in the business in 2022, Equistone has worked closely with the Talon management team on executing an ambitious growth plan, which has focused on consolidating its leading position in the UK, growing its share in the US market and investing heavily in technology to capitalise on the rapidly growing programmatic OOH market. The acquisition of Out of Home Masters follows the acquisitions of Novus Canada and Evolve in 2023 and provides Talon with an important foothold in the attractive Benelux market.

Paul Harper at Equistone said: “Since 2022, we have worked closely with the Talon management team on implementing and pursuing an ambitious buy-and-build strategy. This latest acquisition represents another important milestone for this strategy, which, in combination with accelerated investment into technology and talent, is focused on cementing Talon as the global leader in Out-of-Home advertising.”

Tristan Manuel at Equistone added “OOH Masters provides access to the highly attractive Dutch OOH market which benefits from high programmatic adoption and provides a bridgehead for Talon to expand into the broader Benelux region.”

Sue Frogley, Global CEO of Talon, said: “OOH Masters has been a valued partner in our international network for several years, so this acquisition is a natural next step. Frank and his team have built an exceptional business with a strong reputation for delivering innovative, data-driven solutions in one of Europe’s most dynamic OOH markets. Their expertise and vision align perfectly with our strategy, and together, we’re well-positioned to drive even greater value for our clients and growth across the region.”

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Bridges Consumer Healthcare Announces Acquisition of Category-Leading Consumer Health Brand KT Tape

Charlesbank

Chattanooga, TN, January 16, 2025 – Bridges Consumer Healthcare LLC (“Bridges” or the “Company”), a consumer healthcare platform made up of nine over-the-counter (“OTC”) and personal care brands, today announced the acquisition of KT® Tape (“KT”), the leading kinesiology tape brand designed to provide drug-free pain relief and support for muscles, tendons and ligaments. The strategic move diversifies and strengthens Bridges’ portfolio of specialty OTC brands, increasing the Company’s scale and positioning Bridges for accelerated organic growth and further add-on opportunities. Terms of the transaction were not disclosed.

Founded in 2008, KT Tape has been a pioneer in providing drug-free, innovative solutions to prevent and relieve pain and promote recovery. The company partnered with Palladin Consumer Retail Partners (“Palladin”) in 2014 and has earned high customer advocacy with products that appeal to all consumers from professional athletes to those seeking effective relief from everyday pain and soreness. KT is a category leader used by notable athletic organizations including the U.S. Olympic and Paralympic Teams. The addition of KT to Bridges represents the next phase of growth for the brand, with further investment in demand generation, product innovation and omnichannel distribution as part of the Bridges platform. KT is also the fourth acquisition completed since the inception of Bridges and opens the door for additional opportunities for accretive M&A.

“We are excited to join forces with KT Tape to advance our shared goal of delivering innovative over-the-counter healthcare solutions to improve our customers’ everyday health and quality of life,” said John Speranza, CEO at Bridges Consumer Healthcare. “KT’s innovative solutions enhance Bridges’ already-strong position in pain relief, alongside our current brands in the external pain category, ThermaCare and Absorbine Jr. As we begin executing on our vision for growth, we look forward to exploring partnerships with similar brands that can help us scale further.”

“Today’s announcement marks an exciting new chapter for KT, positioning us to reach more customers and continue to drive meaningful innovation through the added scale of the Bridges platform,” said Jessica Klodnicki, CEO at KT Tape. “We have been impressed by Bridges’ leadership and depth of expertise across several consumer health verticals, as well as the Company’s steadfast focus on its customers. We are thrilled to have found another collaborative strategic partner that shares a similar vision for the future of our business.”

Bridges was founded in 2020 by a team of industry executives and Charlesbank Capital Partners to build a market-leading consumer healthcare platform. Since its formation, Bridges has executed on this mission, acquiring nine brands focused on pain relief, women’s health and supplements, and accelerating double-digit growth through strategic marketing, innovation and a diverse range of sales channels, including e-commerce and B2B partnerships.

“Since its formation, Bridges has demonstrated a strong track record of growth, scaling both organically and through M&A, and we are thrilled to welcome another marquee brand like KT to the Bridges family,” said Jesse Ge, Principal at Charlesbank. “This marks an exciting milestone for the Bridges team, as they continue to build a leading consumer healthcare company.”

Mark Schwartz, CEO of Palladin, added, “It has been a pleasure working with the founders of KT, Jessica and the entire leadership team to build a leading consumer product company providing health and wellness solutions for athletes at all levels. We’re confident that Bridges will be a good platform for KT’s next stage of growth.”

Weil, Gotshal and Manges served as legal counsel to Bridges and Charlesbank. Palladin and KT were represented by Houlihan Lokey and advised by Latham & Watkins, RSM US and Andersen.

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Gryphon Investors-Backed Repipe Specialists Acquires A-1 Total Service Plumbing

Gryphon Investors

Expanding Capabilities in Residential, Multi-Family, and Commercial Plumbing and Piping Solutions

Repipe Specialists (“Repipe”), a leading residential and commercial piping and water services company, announced today that it has acquired A-1 Total Service Plumbing (“A-1” or the “Company”), a Los Angeles area provider of residential, commercial, municipal, and industrial plumbing and lining services. Repipe is backed by middle market private equity firm Gryphon Investors. Terms of the transaction were not disclosed.

Founded in 2004 and headquartered in Los Angeles, CA, A-1 is a full-service provider of traditional residential and commercial plumbing services along with lining and pipe rehabilitation services. The A-1 management team will remain with the Company, and founder and owner Raymond Gray is retaining a significant ownership stake.

“We are thrilled to add A-1 to the growing Repipe team,” said Repipe’s CEO Jay Teresi. “A-1’s strong expertise in plumbing and lining services perfectly complements Repipe’s nationwide capabilities. This partnership expands our service offerings, enhances our technical expertise, and allows us to deliver more comprehensive one-stop solutions for our customers. Ray and the A-1 team share our core values, purpose, and vision: delivering high-quality piping systems and plumbing services that provide clean, clear flowing water essential to everyday life.”

“As we considered our options, joining forces with Repipe and Gryphon was the obvious choice given their added financial and operational resources, national reach, and complementary service offerings,” said Mr. Gray. “Repipe has an unmatched reputation as the premier player in the market, and we are excited for our customers and employees to benefit from the comprehensive product and service portfolio this combination offers.”

A-1 marks the first add-on acquisition that Repipe has made since being acquired in 2022 by Gryphon’s Heritage Fund, the firm’s small-cap investment strategy. Repipe is actively seeking to partner with additional businesses to further expand its premium portfolio of brands and products.

“Our aim is to be the premier provider of residential and commercial piping, lining, and plumbing services, and this acquisition helps achieve our goals,” said Jeff Pembroke, operating partner and co-head of Gryphon’s Heritage Fund. “We look forward to continued and accelerated growth as a result of this acquisition.”

About A-1 Total Service Plumbing

Founded in 2004 by Raymond Gray and headquartered in Los Angeles, CA, A-1 is a leading full-service provider of plumbing and lining services. The company operates in two segments: service plumbing and repair, and lining and pipe rehabilitation. Known for its superior quality service, A-1 has built a strong reputation for plumbing and lining services across California, Nevada and Arizona, while offering commercial lining services nationwide.

About Repipe Specialists

Founded in 1991 and headquartered in Burbank, California, Repipe Specialists is a market leader in residential, multi-family, and commercial repiping. With their proven One-Stop Repipe™ process, they complete installations in just 1–2 days using high-quality materials backed by a lifetime warranty. Having repiped over 75,000 properties in more than 30 years, they are a nationally recognized leader and locally trusted for their efficient and reliable service. For more information, visit www.repipe.com.

About Gryphon Investors

Gryphon Investors is a leading middle-market private investment firm focused on profitably growing and competitively advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, Software, and Technology Solutions & Services sectors. With approximately $10 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon’s highly differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance, and accounting expertise. Gryphon’s three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $500 million per portfolio company. The Junior Capital strategy targets investments of $10 million to $25 million in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon’s targeted investment sectors.

# # #

Contact:

Lambert

Caroline Luz

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cluz@lambert.com

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Jennifer Hurson

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jhurson@lambert.com

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Shriram Housing Finance Unveils its New Brand Identity “Truhome Finance” Following its Acquisition by Warburg Pincus, QIA, and Others

Warburg Pincus logo

Mumbai, 15 Jan 2025 – Shriram Housing Finance, one of India’s leading affordable housing finance companies, announced the launch of its new brand identity – Truhome Finance (the “Company”).

The rebranding follows its acquisition by Warburg Pincus and its co-investors, including QIA, Qatar’s sovereign wealth fund. As part of the agreement, Shriram Finance Group received an investment of ₹1,225 crore, helping the Company augment its net worth to over ₹3,300 crore and marking a significant milestone in the Company’s growth journey.

Truhome Finance, the new brand identity reflects the Company’s commitment to providing the best service to its customers while fostering the aspirations and dreams of homeownership for many. The rebranding also underscores the Company’s steadfast focus on enabling affordable housing finance to the underserved population of the country. The new brand aligns with the Company’s vision of empowering individuals to achieve their homeownership dreams and ensuring financial accessibility where every individual, regardless of their socio-economic background, has access to a transparent, trustworthy, and supportive partner on their journey to owning a home. Truhome Finance also aims to create lasting value for all stakeholders.

“We are thrilled to unveil our new brand, Truhome Finance, which reflects our strategic vision and forward-thinking approach,” said Ravi Subramanian, CEO, Truhome Finance. “While our name has changed, our core mission remains the same — to make affordable home loans accessible to every individual together with our commitment to quality and customer satisfaction. This rebranding marks a new chapter in our journey and positions us for greater growth and success,” he added.

Mr. Subramanian reiterated, “Our customers will continue to enjoy the same great products and services they know and trust. The Company’s leadership team and contact information will remain unchanged, ensuring seamless continuity in all business operations. Our new brand identity represents not just a name change, but also an evolution of who we are and what we stand for. We are excited to continue serving our customers and partners under the banner of Truhome Finance, as we set our sights on the future. As an organization, we have always strived for TRUENESS in everything we do: to be TRUE to our customers, stakeholders, regulators, employees, and above all be TRUE to our conscience. The core fabric of our organization is now reflected in our brand name Truhome Finance.”

“We are thrilled to embark on this new journey with Truhome Finance, a trusted brand and leader in the affordable housing finance sector. This acquisition aligns seamlessly with our mission to drive financial inclusion and support the aspirations of underserved communities. Together, we aim to scale up operations, enhance offerings, and make homeownership a reality for countless families across India.” said Narendra Ostawal, Managing Director & Head of India Private Equity, Warburg Pincus.

About Truhome Finance Limited (Formerly Shriram Housing Finance)

Truhome Finance Limited, is a leading housing finance company in India, registered with the National Housing Bank (NHB). The Company commenced operations in December 2011. Truhome Finance Limited is amongst the fastest growing and most profitable affordable housing finance companies with a network of over 165 branches and Assets Under Management (AUM) of over INR 16000 Cr as of December 2024. The company is rated AA/Stable by CRISIL, India Ratings, and CARE. Truhome Financewas acquired by Warburg Pincus, a pioneer of private equity growth investing, from the Shriram Finance Group in December 2024.

About Warburg Pincus

Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $86 billion in assets under management, and more than 230 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com or follow us on LinkedIn.

For media inquiries or further information, please contact:

Amit Bhatia

Mobile: +91 8971900311
E-mail: amit.bhatia@shriramhousing.in

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Plantagen restructuring approved

Ratos

Plantagen in Norway and Sweden have been undergoing restructuring since August 22. At the end of December, Plantagen submitted proposals for debt settlements with the creditors. These proposals have been accepted by the majority of the creditors and today approved by the respective courts in Norway and Sweden.

Since August 22, 2024, Plantasjen Norge AS and Plantagen Sverige AB have been undergoing restructuring to ensure continued operations. The court approvals of the debt settlements in both countries means that the purpose of the restructuring can be achieved.

When the court decisions have gained legal force, the companies can exit restructuring. This is expected to take place February 18.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 16 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 32 billion in net sales (September LTM). We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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KKR Invests in smaXtec to Accelerate Global Growth

KKR

Investment to Support Dairy Industry with Innovative Technology and Global Expansion

London, UK & Graz, Austria – 16 January 2025 – smaXtec, a leading provider of agri-tech for the global dairy industry, today announced a growth investment led by global investment firm, KKR, alongside technology investor Highland Europe (“Highland”). Existing shareholder Sophora Unternehmerkapital (“Sophora”) retained a minority stake in the business. Financial terms of the transaction were not disclosed.

 

smaXtec is a leading monitoring platform that transforms dairy farming by enhancing efficiency and promoting animal health through its proprietary technology. The platform enables early disease detection, monitors fertility with heat detection, and reduces birth-related complications, all contributing to improved cow welfare and farm productivity.

At the heart of smaXtec’s innovation is the in-vivo bolus, a proprietary sensor placed inside a cow’s stomach. This sensor provides real-time, accurate data, seamlessly integrated with a cloud-based, AI-powered analytics platform. Farmers can access actionable insights and alerts via remote monitoring, empowering them to make timely and informed decisions. Founded in 2009 in Graz, Austria, smaXtec has established a global presence, serving dairy farmers across Europe, North America, and Australia & New Zealand.

KKR’s investment is to fuel smaXtec’s product innovation and accelerate its international growth as the global dairy industry increasingly adopts digital tools to improve animal health. smaXtec expects to benefit from KKR’s operational expertise, leveraging the firm’s platform to scale as a leader in agricultural technology. Additionally, smaXtec will access KKR’s extensive network of industry professionals, particularly in agriculture and technology, to strengthen its position as a pioneer in dairy farming solutions.

Stefan Scherer, CEO of smaXtec said: “smaXtec has emerged as the leading dairy cow health management system, revolutionizing the industry. Our system empowers thousands of farmers worldwide to achieve a true triple win: enhanced animal welfare, reduced greenhouse gas emissions, and increased earnings. I am thrilled that KKR is able to ensure and accelerate our global growth, which has consistently doubled over the past five years. smaXtec consists of a competent and committed team that will achieve a lot in the future. I would like to thank them for our cooperation and look forward to the future.”

Marta Szczerba, Director in European Tech Growth at KKR, said: “smaXtec’s technology has emerged as a disruptive force in the dairy industry, enabling farmers to significantly increase the efficiency of their operations. With a deeply engaged user base, high pace of product innovation and dedication to supporting its customers, smaXtec is well-positioned to continue to drive digitalization of the dairy sector globally. We are excited to support the next chapter of the company’s growth story.”

David Blyghton, General Partner at Highland Europe, added: “By providing real-time, actionable insights into herd health, smaXtec is empowering farmers across the globe to improve animal welfare, enhance productivity and drive operational sustainability. smaXtec’s vision and product leadership in AI-powered dairy health monitoring is driving rapid revenue growth and global customer adoption – we’re delighted to be part of the journey.”

Benjamin Hubner, Managing Partner of Sophora, said: “We are excited to continue our partnership with smaXtec and join forces with KKR and Highland in the next phase of smaXtec’s development. Over the past two years, smaXtec has consistently demonstrated its ability to drive innovation and create significant value for the dairy industry. By reinvesting, we reaffirm our confidence in smaXtec’s disruptive technology and its potential to further transform the market globally.”

Today’s announcement of KKR and Highland’s investment in smaXtec is also a success story for the Styrian regional start-up ecosystem. From university spin-off to global success – smaXtec and Styria prove what a positive economic ecosystem can achieve.

KKR is making the investment in smaXtec primarily through its Next Generation Technology Growth Fund III, a fund dedicated to growth equity investment opportunities in the technology space. KKR has established a proven track record of supporting technology-focused growth companies, having invested over $21.6 billion in related investments since 2014 and built a dedicated global team of more than 35 investment professionals with deep technology growth equity expertise.

William Blair & Company is acting as exclusive financial advisor to smaXtec. The transaction is still subject to the approval of the relevant antitrust authorities.

About smaXtec

smaXtec provides dairy farmers with the most advanced health monitoring system, designed to prevent diseases in cows, boost milk yields, improve animal welfare, and reduce methane emissions in milk production. By integrating cutting-edge AI technology, such as the TruAdvice™ system, smaXtec detects potential diseases long before they become clinical. This enables farmers to prevent most diseases altogether by applying milder and alternative treatments. The combination of accurate data and intelligent insights helps farmers around the world to optimize their operations, improve the efficiency of daily tasks and reduce antibiotic use. SMAXTEC is committed to enhancing the stability, sustainability and profitability of dairy farming globally. For more information, visit smaXtec.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 Highland Europe

Highland Europe invests in exceptional growth-stage technology and consumer companies. Formally launched in 2012, Highland Europe has raised over €2.75 billion and has invested in companies such as Adjust, AMCS, Camunda, ContentSquare, Deepki, Descartes Underwriting, GetYourGuide, Featurespace, Finbourne, Huel, ME+EM, Nexthink, Nothing, Oritain, PVcase, SoSafe, Supermetrics and Zwift. Highland’s collective history of investments across the US, Europe and China includes 45+ IPOs, 150+ M&A exits and 40 billion-dollar-plus companies.

About Sophora Unternehmerkapital

Sophora Unternehmerkapital, based in Munich, is an independent and owner-managed investment company with a focus on medium-sized companies in Germany, Austria and Switzerland. Sophora consists of an interdisciplinary team of entrepreneurs with many years of experience in the investment business and as founders and Managing Directors of companies. As a value-creating partner of entrepreneurs and management teams of medium-sized companies, Sophora provides strategic and operational know-how as well as a comprehensive network of experts and flexible capital in order to jointly discover and develop potentials. For additional information about Sophora, please visit Sophora’s website at www.sophora.de/en.

smaXtec

smaXtec animal care GmbH

Stefanie Murauer

+43 664 88440916

press@smaxtec.com

KKR

FGS Global

Alastair Elwen / Jack Shelley

+44 20 7251 3801

KKR-LON@fgsglobal.com

Sophora Unternehmerkapital

Sophora Unternehmerkapital GmbH
Melaine Louis
info@sophora.de

 

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CapMan Real Estate acquires a brownfield logistics development project outside Gothenburg, Sweden

Capman

 

CapMan Real Estate acquires a brownfield logistics development project outside Gothenburg, Sweden

The CapMan Nordic Real Estate III fund (“CMNRE III”) has signed an agreement with Mitsubishi Logisnext Europe AB to acquire a brownfield logistic development project situated in the Gothenburg region which is the highest ranked logistics hub in the Nordics. The plan is to demolish the current outdated industrial buildings and, in their place, construct an EU taxonomy aligned modern logistics facility. This new facility will provide high-quality logistics spaces suitable for multiple tenants, thereby bolstering CapMan Real Estate’s footprint in the Swedish logistics market.

The project is situated in Mölnlycke along highway 40 outside central Gothenburg, a city which houses the largest port in the Nordics and is central to the “Logistic Triangle” connecting the Nordic capitals. As a result, the demand for logistics space in the area is typically very high coupled with low vacancy rates.

The project site holds two outdated buildings which CapMan Real Estate plans to demolish and replace with an EU Taxonomy aligned logistics facility of approx. 43,000 m2. The new facility will allow for up to six different units and is planned to welcome new tenants by summer 2026. The development project targets BREEAM-SE v.6 New construction certification at least on level Excellent as well as energy performance certificate rating B. The construction site will target a minimum 90% waste recycling rate aiming to reuse as much as possible within the new development.

“We’re very happy to acquire this project in such an excellent logistic location outside central Gothenburg, increasing our presence in the Swedish logistics segment. We look forward to developing a sustainable*, top-of-the-art logistic facility and attract tenants who value the unique opportunity to lease space in this location”, comments Marcus Lotzman, Head of Transactions at CapMan Real Estate Sweden.

The acquisition is expected to close during Q1 2025. Mannheimer Swartling acted as legal advisors for CapMan Real Estate in this transaction.

CapMan Real Estate manages approximately €4.4 billion in real estate assets, with a team of over 80 professionals located in Helsinki, Stockholm, Copenhagen, Oslo, London and Jyväskylä. This is the 6th investment in Sweden for CMNRE III, a value-add fund investing mainly in Nordic office, logistics and selected residential assets.

*EU Taxonomy aligned.

For more information, please contact:

Marcus Lotzman, Head of Transactions at CapMan Real Estate Sweden, +46 706 806 081

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

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