Category Archives: News

Ardian and Rockfield secure a €550 million green financing package to support pan-European PBSA strategy

Ardian

Ardian, a world-leading private investment firm, and Rockfield, a vertically integrated living platform, today announce the successful closing of a sizable green financing package of €550 million for their Purpose-Built Student Accommodation (PBSA) strategy.

The latest financing provides additional capital for the platform to invest in PBSA across Europe and is structured to support further growth alongside the strategy. It demonstrates continued market confidence in the platform and provides additional resources to scale the strategy further by refinancing existing seed assets and securing funding for future acquisitions across the portfolio. The package combines c.€450 million of pan-European facilities, signed with ING (also acting as Agent and Global Coordinator), Société Générale CIB and HSBC Continental Europe as Mandated Lead Arrangers, together with additional financing of more than €100 million supporting existing investments in Italy. This green financing also underscores Ardian and Rockfield’s commitment to embedding sustainability at the heart of the PBSA strategy.

With a Core+ profile, the platform not only seeks to deliver long-term, risk-adjusted returns, but also to reduce greenhouse gas emissions in line with the Paris Agreement. So far, all assets are targeting or have achieved leading ESG certifications such as BREEAM and LEED, with climate risk assessments, renewable energy procurement, and wellbeing-focused design integrated into each project. Beyond environmental measures, the platform actively monitors socioeconomic impact, including affordability and accessibility.

“The strong support from our financing partners highlights both the momentum of our partnership with Rockfield and the growing relevance of sustainable purpose-built student housing. We’re proud to be at the forefront of this important market and look forward to continuing to develop our PBSA strategy with this scalable and innovative financing solution provided by leading banks within the real estate industry. With this new financing, we have greater flexibility of execution and the ability to deploy even more capital in PBSA across Europe.” Antoine Leboulanger, Co-Head of Capital Markets and Managing Director, Ardian

“Securing this financing package is a significant milestone for our European PBSA strategy. It not only allows us to further optimize our existing portfolio, but also creates the capacity to capture new opportunities and accelerate growth in markets with strong structural demand. The facility is designed to grow with the venture, supporting both standing assets and new-build projects, and strengthening our ability to meet the rising demand for student accommodation across Europe.” Florijn Diepstraten, CFRO Rockfield Real Estate

Since its launch in 2024, the pan-European PBSA strategy has built momentum, completing eight acquisitions across the Netherlands, Spain, Italy and Germany and establishing a diversified portfolio of more than 6,000 beds. Backed by significant support from CBRE Investment Management – which initially committed €500 million and increased this by €300 million in June 2025 – the platform now benefits from nearly €1.3 billion in investment capacity. These early developments reflect the strength of the strategy’s disciplined investment criteria and its ability to execute transactions in a timely and consistent manner.

About Ardian

Ardian is a world-leading private investment firm, managing or advising $192bn of assets on behalf of more than 1,850 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.

At Ardian we invest all of ourselves in building companies that last.

ardian.com

About Rockfield Real Estate

Rockfield Real Estate is a vertically integrated investment, development, and operating platform specializing in European residential real estate. Founded in 2014, the firm has built a strong presence, first in the Netherlands and now across Continental Europe, with offices in the Netherlands and Spain. Managing approximately €2 billion in assets under management, Rockfield oversees 8,000 residential units and has developed over 10,000 homes.

Catering to institutional clients, the firm leverages its expertise in sustainable and future-proof real estate, with a strong focus on ESG principles. Rockfield’s entrepreneurial mindset enables it to identify and execute high-quality investment opportunities. Looking ahead, Rockfield remains committed to creating enduring value for stakeholders and positively shaping communities through its forward-thinking residential real estate strategies.

rockfield.nl

Media contacts

Ardian

Headland

ardian@headlandconsultancy.com

Rockfield Real Estate

Sander van Essen

Sander.van.essen@rockfield.nl

Categories: News

Tags:

The ODP Corporation to be Acquired by Atlas Holdings in All-Cash Transaction

Atlas Holdings

The ODP Corporation Shareholders to Receive $28 Per Share in Cash, Representing a 34% Premium to Closing Stock Price on September 19, 2025

Transaction to Generate Significant Value for The ODP Corporation Shareholders

BOCA RATON, Fla. and GREENWICH, Conn. (BUSINESS WIRE) – The ODP Corporation (NASDAQ:ODP), a leading provider of products, services and technology solutions to businesses and consumers, today announced that it has entered into a definitive agreement to be acquired by an affiliate of Atlas Holdings, which owns and operates a global family of manufacturing and distribution businesses, for $28 per share in cash. The purchase price represents a premium of 34% to The ODP Corporation’s closing share price on September 19, 2025, valuing The ODP Corporation at approximately $1 billion. Upon completion of the transaction, The ODP Corporation will become a privately held company, and shares of common stock will no longer be listed on the NASDAQ stock exchange.

“This transaction, fully supported by our Board, provides a substantial premium for The ODP Corporation’s shareholders and will improve the company’s position for the next phase of growth,” said Gerry P. Smith, Chief Executive Officer of The ODP Corporation. “Atlas brings an understanding of our industry, along with the operational expertise, resources and track record of supporting its companies that will fast forward our B2B growth initiatives and strengthen our position as a trusted partner to our customers. Atlas’ commitment demonstrates their confidence in our future and the strong momentum we’ve achieved through our focus on operational excellence and disciplined execution. We’re excited about our path for the future.”

“Atlas has a long history of transitioning public companies into successful private enterprises and we are uniquely positioned to do just that with The ODP Corporation – an iconic American company,” said Atlas Managing Partner Michael Sher. “Atlas operates like a diversified holding company, and we have a proven record of delivering the human and financial capital necessary to create long-term value in our businesses. The ODP Corporation’s leadership has already taken several steps to mitigate the challenging retail environment, and we are the right partners to support The ODP Corporation’s continued evolution in its next chapter. We look forward to completing this transaction which will provide a positive outcome for The ODP Corporation’s associates, customers, suppliers and shareholders.”

The Board of Directors of The ODP Corporation unanimously approved the transaction, which is expected to be completed by the end of 2025. The transaction is subject to customary closing conditions, including regulatory approvals and approval by The ODP Corporation shareholders.

J.P. Morgan Securities LLC is serving as exclusive financial advisor and Simpson Thacher & Bartlett LLP is serving as legal advisor to The ODP Corporation. Lazard is serving as financial advisor and Willkie Farr & Gallagher LLP is serving as legal advisor to Atlas Holdings.

About The ODP Corporation

The ODP Corporation (NASDAQ:ODP) is a leading provider of products, services, and technology solutions through an integrated business-to-business (B2B) distribution platform and omnichannel presence, which includes world-class supply chain and distribution operations, dedicated sales professionals, online presence and a network of Office Depot and OfficeMax retail stores. Through its operating companies ODP Business Solutions, LLC; Office Depot, LLC; and Veyer, LLC, The ODP Corporation empowers every business, professional, and consumer to achieve more every day. For more information, visit theodpcorp.com.

About Atlas Holdings

Headquartered in Greenwich, Connecticut and founded in 2002, Atlas and its affiliates own and operate 29 companies which employ more than 60,000 associates across 375 facilities worldwide. Atlas operates in sectors such as automotive supply, building materials, capital equipment, construction services, food manufacturing and distribution, metals processing, packaging, paper, power generation, printing, pulp, supply chain management and wood products. Atlas’ companies together generate more than $20 billion in revenues annually.

Categories: News

Tags:

Vivecti Group and Sana Einkauf join forces to create a leading technology-driven procurement alliance in European healthcare

Nordic Capital
  • Combination strengthens position of hospitals, practices, and care homes in a consolidating market facing major transformation
  • Bundling of demand volume and innovation capacity creates efficiency gains that strengthen both healthcare providers and industry
  • Consistent deployment of digital solutions aims to optimize processes, accelerate workflows, and sustainably improve quality of supply in the healthcare system

Berlin/Ulm, Munich (Germany), 19 September 2025 – Vivecti Group and Sana Kliniken AG are entering into a strategic partnership: Vivecti is acquiring the procurement alliance of Sana Kliniken AG, which serves more than 1,500 healthcare facilities in Germany and Switzerland. Simultaneously, Sana Kliniken AG will acquire a 21 percent stake in Vivecti Group, continuing to support the company’s success as a partner. The combination creates a leading, technology-oriented procurement alliance with innovative products and services for hospitals and other healthcare providers in the European healthcare space. Completion of the transactions is subject to customary regulatory approvals.

The German healthcare system faces significant challenges: While patient numbers stagnate, material costs continue to rise. At the same time, hospitals confront a highly consolidated, internationally operating supplier landscape. To ensure reliable supply and achieve economically viable prices under these conditions, high-performing procurement alliances and digitally controlled processes are becoming increasingly important. This is precisely where the Vivecti-Sana alliance comes in: It bundles demand volume, innovation capacity, and digital expertise, creating efficiency gains that strengthen both healthcare providers and industry, thereby sustainably supporting the healthcare system.

“Healthcare needs strong partnerships in a consolidating market facing transformation. Together with Sana Einkauf, we are laying the foundation for sustainable economic viability and innovative solutions that offer genuine added value to our customers. We are consistently continuing our successful digitalization course: Through coordinated exchange and intelligent analysis of structured data, we create transparency, enhance service quality, and optimize the entire supply process – to the benefit of both healthcare providers and industry,” says Prof. Dr. Benjamin I. Behar, CEO of Vivecti Group.

“With this partnership, we are following our proven strategy: working with partners to continuously improve healthcare supply for patients in a sustainable and forward-looking manner – while remaining part of an international network that guarantees security of supply and innovation. In addition to our long-standing procurement expertise, we will primarily contribute our experience and perspectives as a leading hospital group and customer of procurement services to the partnership,” explains Thomas Lemke, CEO of Sana Kliniken AG.

A Strong Partner for Healthcare Providers and Industry

Vivecti Group, headquartered in Berlin/Ulm, was founded under the name Prospitalia as a procurement group for hospitals. Over the years, the company has evolved into an integrated service provider for inpatient and outpatient healthcare providers and, together with Prospitalia, today comprises ten specialized group companies, including PCM, Wawibox, h-trak, and CoSolvia. As a comprehensive performance partner and digitalization pioneer, Vivecti supports its customers with procurement services and software, professional management and central services, as well as specialized consulting offerings.

Through the Sana procurement alliance, affiliated hospitals and healthcare facilities currently source goods worth approximately four billion euros under conditions negotiated by Sana Einkauf & Logistik GmbH with industry partners. The offering encompasses medical devices, consumables, capital goods, as well as pharmaceuticals and laboratory supplies. With integration into Vivecti Group, a total volume of more than seven billion euros emerges – creating one of Europe’s largest procurement alliances, from which numerous healthcare providers in Germany, Austria, and Switzerland will benefit in the future. Higher procurement volumes secure low price levels and thus comprehensively relieve the healthcare system. Simultaneously, combining both companies’ supplier partnerships leads to a more extensive product portfolio at competitively negotiated prices.

Together with Sana Einkauf, Vivecti will employ approximately 700 staff members and serve over 6,000 healthcare providers as customers across European healthcare. The goal of this step is to relieve economic pressure on hospitals, practices, and care homes, increase security of supply, and consistently advance digital innovations in procurement.

Sana’s hospital full-service supply (KVV) will remain a direct part of Sana Hospital Group and continue to supply over 150 owned and cooperating facilities from seven logistics centers with medical products – from ordering to modular supply to invoice processing. This preserves the proven structure and ensures security of supply and stability for the future.

Hospitals and Industry Benefit from Digital Competence

For affiliated hospitals, the combination opens a series of concrete advantages: They benefit from a strengthened position in procurement negotiations and from reliable supply – even during times of fragile supply chains. More efficient, digitally supported procurement and logistics processes provide additional relief. Simultaneously, the expanded network enables faster exchange of knowledge and best practices as well as comprehensive consulting in strategic supplier and category management.

Following the combination, there will be a particular focus on the digital competence that Vivecti brings to the partnership. Through consistent deployment of digital solutions, processes are to be optimized, workflows accelerated, and quality of supply in the healthcare system sustainably improved. AI-supported applications for procurement and logistics are to be used on a shared data basis – from master data management and data mapping to scanner-based warehouse management systems. The result: greater transparency, more efficient materials management, and strategically aligned procurement optimization.

Strengthening Outpatient Care

An important area of action is strengthening outpatient care – and thus supporting the politically demanded shift from inpatient treatments to the outpatient sector. Lean, digital processes and improved procurement conditions create the prerequisites for this. Vivecti already supports outpatient healthcare providers today – with intuitive materials management solutions and a digital marketplace for professional procurement, as well as with transparency and centrally negotiated procurement volumes that enable price advantages.

 

About Vivecti Group
Vivecti Group is an integrated, technology-supported healthcare partner. The portfolio encompasses procurement, managed services, and consulting, supported by proprietary platforms, data analytics solutions, and software tools. Under the holding company umbrella, specialized companies operate including Prospitalia, Pro Care Management, Wawibox, miralytik, h-trak, WMC/WMCF, Hospital Management Group, and CoSolvia. With approximately 550 employees, Vivecti generated revenue of 145 million euros in 2024.

About Sana Kliniken AG
Sana Kliniken AG is a leading integrated healthcare service provider in the German-speaking region. Comprehensive healthcare for four million patients annually extends from prevention services to outpatient and inpatient care to aftercare, rehabilitation, and the provision of medical aids and devices. These services are delivered nationwide across approximately 50 hospitals, 58 MVZ companies with about 550 physician positions, as well as over 60 medical supply stores and prevention practices combined. Additionally, Sana offers B2B services, including services and consulting for external hospitals, particularly in medical technology and management contracts. In 2024, approximately 41,500 employees generated revenue of 3.6 billion euros. The owners of Sana Kliniken AG, founded in 1976, are 24 private health insurance companies.

 

Media contacts:

Vivecti:

Harald Domke
FGS Global
Tel: +49 171 3383 836
Email: Harald.Domke@fgsglobal.com

Sana Kliniken AG:

Henning Stegmayer
Konzern-Bereichsleiter Unternehmenskommunikation
Tel: +49 151 7463 8356
Email: henning.stegmayer@sana.de

Categories: News

Tags:

French startup NxtFood (ACCRO) raises $58m to scale alt-meat platform, aims for profitability in 12-18 months

Agfund

While sales of plant-based meat are going backwards in many markets, French startup Nxtfood—best known for the ACCRO brand—has just secured a €49 million ($58 million) funding round on the back of rapid growth in retail and foodservice markets.

The round was backed by existing investors Creadev and Roquette Ventures, and new investors Clay Capital and IRD Invest (Groupe IRD).

The investment is Singapore-based Clay Capital’s first in plant-based meat alternatives, said managing partner Matthieu Vermersch. “We have long observed the plant-based meat market with caution, looking for the right alignment between product, strategy, and team. With Nxtfood, we have found a company that combines operational excellence at scale, European ambition, and a clear path to profitability – a challenge that few players in this sector are able to meet today.”

The capital will be used to expand production at Nxtfood’s site in Vitry-en-Artois, France, tripling its footprint to 12,000 square meters, and fund further R&D in high moisture extrusion.

It will also be used to accelerate sales and marketing in France via the ACCRO brand, and elsewhere in Europe via b2b and co-manufacturing opportunities, says the firm, which aims to achieve profitability in 12-18 months.

ACCRO products. Image credit: Nxtfood
Image credit: Nxtfood

Rapid growth

Founded in 2019 and with its first products into the foodservice market in late 2022, Nxtfood develops plant-based meat products from locally grown wheat and pea proteins. It claims to be the fastest-growing plant-based start-up in France, with 20+ products spanning alt chicken, beef and pork sold in all leading food retailers and 10,000+ foodservice outlets.

CEO Renaud Saïsset told AgFunderNews: “In 2022 we did €1 million ($1.2 million), last year we were at €9.2million ($10.8 million), and this year, we will finish the year at around €17.4 million ($20.5 million). So that’s a nice growth, but there’s still a lot to do.”

Reaching profitability is in part a function of economies of scale, said Saïsset. “With our new industrial plan, we will also improve efficiency and yield so we will improve our production margin, but we are also careful on controlling spending.”

The French alt meat market

While sales of meat alternatives are flat or down in many markets, the French market is growing at a double-digit rate, he claimed. “Retailers and foodservice companies want to catch the major part of this growth, so they are dedicating more space to these products and welcoming innovations, provided that they offer something new.

“Most of them have launched private labels, a key growth opportunity for us [as a co-manufacturer] … and they are investing in terms of advertising and promotions. The private label share of market is increasing very fast, so they are very excited about this category.”

On merchandising, he said, “There are still lots of questions to understand where would be the best place to put these products [in the store]. At the moment, most are gathered in the chilled prepared food area, and this seems to work. But they are thinking of other possibilities, so there are some tests to try to see what could be the best implementation in the future.”

In foodservice, meanwhile, “We are targeting all parts of the market,” said Saïsset. “QSR and commercial channels are working very well and it’s a good way of opening the market, because consumers are happy to try things [when they eat out] and discover this new generation of products. And then they are more eager to buy them in retail.

“There is also a strong opportunity in school canteens because there is experimentation in France to bring more plant-based menus. And this new generation of products is much more attractive because they don’t have so much waste. Before, with the plant-based menu that they proposed, they had a lot of waste, but now, the level of waste is the same as [conventional] meat.”

The trough of disillusionment  

Asked about the funding landscape, Saïsset said: “The global economic context is tougher than before, for sure. And I think investors have also been disillusioned about the plant-based market as expectations were too high. I think all the signs are good, but it takes time to change habits.”

In France, he said, the plant-based market “is a bit younger and less mature and if we are clever, we should learn from what happened in some other markets. We have to focus on bringing more innovation, not just more brands. I could see in the UK market some years ago for example that there were lots of brands, but they were all making the same products.”

While it’s only one factor, he said, consumers also want shorter ingredients list, balanced nutrition, and clean labels in the meat alternatives market.

“We have a very short ingredient list and a very clean product. We only have green [colors] in [front-of-pack nutrition labeling scheme] Nutri-Score and we are also very careful to bring the right level of proteins at the same level as meat, plus we are rich in fibers and low in saturated fat.”

The Nxtfood (ACCRO) team. Image credit Nxtfood
Image credit Nxtfood

Categories: News

Tags:

Candid Therapeutics Recognized as a 2025 Endpoints 11 Honoree

Vida Ventures

SAN DIEGO–(BUSINESS WIRE)–Candid Therapeutics, Inc. (“Candid”), a clinical-stage biotechnology company redefining the treatment of autoimmune and inflammatory diseases through novel T-cell engagers (TCEs), today announced that it has been named to the prestigious 2025 Endpoints 11 list. The Endpoints 11 annually recognizes the most promising private biotech companies in the world driving innovation and shaping the future of the industry.

“We are thrilled to receive this recognition after just one year of officially launching the company,” said Dr. Ken Song, Chairman, President, and Chief Executive Officer of Candid. “We believe T-cell engagers represent a transformative modality for patients with debilitating inflammatory conditions, and this recognition underscores the progress our team has made advancing potentially first-in-class and best-in-class programs into the clinic.”

Candid is advancing a comprehensive pipeline of T-cell engagers, anchored by cizutamig, a first-in-class and potentially best-in-class BCMA-targeting TCE currently in clinical evaluation across multiple autoimmune indications. In addition, the company is progressing next-generation CD19- and CD20-targeting programs, including CND261 and CND319, alongside a robust discovery engine designed to expand TCE applications across a broad range of autoimmune and inflammatory diseases.

About Candid Therapeutics

Candid Therapeutics is a clinical-stage biotechnology company focused on transforming the treatment of autoimmune and inflammatory diseases through novel T-cell engager (TCE) platforms. Candid is advancing two lead B-cell depleting TCE antibody drug candidates, with a goal to broadly explore the potential of TCEs across multiple autoimmune diseases by targeting different B-cell protein targets, as well as evaluating different depths of B-cell depletion. Established in 2024 and headquartered in San Diego, CA, Candid is led by a team of entrepreneurial executives who have a track record of advancing programs into and through development and is supported by a distinguished syndicate of premier life science investors.

 

Contacts

Arvind Kush
info@candidrx.com

Categories: News

Tags:

Onex Partners to Acquire Integrated Specialty Coverages from KKR

KKR

Transaction Highlights Successful Employee Ownership Model with All Employees to Earn Significant Cash Payouts

NEW YORK & CARLSBAD, Calif.–(BUSINESS WIRE)– Leading global investment firms KKR and Onex today announced that Onex Partners will acquire Integrated Specialty Coverages (“ISC” or “the Company”), a tech-enabled insurance platform dedicated to designing, underwriting, and distributing insurance solutions. All ISC employees will receive substantial cash payouts on their ownership stakes in the Company.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250918990358/en/

ISC employees celebrate news of cash payouts at ownership eventISC employees celebrate news of cash payouts at ownership event

“It’s been an extraordinary journey partnering with ISC’s employees and leadership team, including Founder & CEO Matt Grossberg, who has been instrumental in bringing ownership culture to life and shepherding the Company’s next era of growth and innovation,” said Chris Harrington, Partner at KKR. “Together, we’ve significantly expanded ISC’s market presence, enhanced its product offerings, and accelerated its mission to transform the underwriting and operation of complex insurance programs, creating a best-in-class network that supports the entire insurance ecosystem. This transaction represents a terrific result for ISC’s employee-owners and our investors in KKR’s Americas XII Fund, underscoring our commitment to serving as a catalyst for growth and value creation.”

Since KKR’s initial investment in 2021, ISC has scaled into an industry-leading platform driven by targeted investments in technology and data, expansion of its specialty retail and wholesale capabilities, and formation of its first ever national sales and marketing team.

Matt Grossberg, Founder and CEO of ISC, added, “The ownership mindset fundamentally transformed our organization at every level, cultivating an exceptional workforce of true stakeholders. This powerful shift inspired our team of owners to approach their responsibilities with heightened purpose and commitment, knowing they play a firsthand role in the company’s success. This alignment of individual and organizational interest has been vital to our achievements during our strategic partnership with KKR. We look forward to our next chapter in partnership with Onex.”

Adam Cobourn, a Managing Director at Onex Partners, said, “We are thrilled to be partnering with Matt Grossberg and all of ISC’s employee-owners in this next phase of the Company’s growth. ISC operates in a market sector that we understand very well, and we see tremendous opportunities to leverage our industry experience and network to help drive value creation. Alignment of interests between all stakeholders is a cornerstone of Onex Partners’ investing philosophy, and we look forward to continuing ISC’s highly successful employee ownership program.”

During its strategic partnership with KKR, ISC has cultivated an entrepreneurial, ownership-oriented culture that has delivered measurable results across the organization:

  • Employee Engagement: Advanced from the 76th to the 91st percentile in Gallup assessment scores
  • Ownership Culture: Achieved top-decile performance on the Ownership Works index, with employee ownership sentiment increasing by 23%
  • Talent Retention: Realized a 50% reduction in voluntary employee attrition since 2022

These outcomes were achieved through targeted workforce development initiatives including training, seminars, and employee-led committees.

As a result of ISC’s employee ownership program, all of the Company’s nearly 400 employees will receive cash payouts upon closing of the transaction, with payouts ranging from three months to over two years of annual pay, depending on tenure.

“ISC exemplifies the power of ownership cultures in creating value for both employees and companies,” said Pete Stavros, Co-Head of Americas Private Equity at KKR and Founder of the nonprofit Ownership Works. “The proof is in the data, which shows that over the last three years, ISC’s ownership culture and engagement scores have risen from the 60s and 70s respectively to the top decile in both, while the quit rate was more than halved from 18% to 6%. ISC will be in great hands with Onex, which shares our commitment to ownership and will continue an employee ownership program at the Company following the close of the transaction.”

Since 2011, KKR has implemented broad-based employee ownership and alignment programs throughout its portfolio, first pioneered by KKR’s U.S. Industrials private equity team and more recently expanding across all control investments within KKR’s Americas Private Equity franchise. To date, 71 KKR portfolio companies have awarded billions of dollars in equity to nearly 180,000 non-senior management employees.

KKR and ISC were advised by Morgan Stanley & Co. LLC as lead financial advisor and Kirkland & Ellis as legal advisor on the transaction.

About ISC
Integrated Specialty Coverages (ISC) is a leading, multi-line program administrator dedicated to underwriting excellence, client service, and customer experience. ISC has built an end-to-end insurance platform by connecting a broad network of insurance markets and distribution channels with proprietary data analytics capabilities. The firm uses sophisticated technology and analytics to revolutionize how complex programs are underwritten and operated. They are joined by experienced professionals from all spheres of the insurance ecosystem. ISC’s strategy is focused on a combination of strategic M&A, data-driven decision-making, and an innovative means of delivery. Please visit: https://iscmga.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 Onex
Onex invests and manages capital on behalf of its shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, banks, insurance companies, family offices and high-net-worth individuals. In total, Onex has approximately $55.9 billion in assets under management, of which $8.4 billion is Onex’ own investing capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms. Onex is listed on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit its website at www.onex.com.

Media Contacts

KKR
Brooke Rustad / Sarah Moon
media@kkr.com

ISC
Hadar Raz
hadar.raz@iscmga.com

Onex
Jill Homenuk
jhomenuk@onex.com

Source: KKR

 

Download PDF

Categories: News

Tags:

KKR Expands Boston Presence with First Downtown Office at International Place

KKR
  • Leading global investment firm signs 15-year lease at Two International Place to bolster capabilities and support global operations
  • 132,529-square-foot commitment marks major milestone for Boston’s office market

BOSTON–(BUSINESS WIRE)– The Chiofaro Company, in partnership with PGIM’s real estate business, today announced that KKR, a leading global investment firm, has signed a 15-year lease for 132,529 square feet at Two International Place, representing a significant milestone for Boston’s office market. KKR will relocate to the new office space to accommodate its growth in Boston, expanding its U.S. footprint, and bolstering its capabilities across key strategic areas to support its global operations. Currently, more than 300 KKR employees are based in the Boston area, primarily serving the firm’s insurance business.

This signing coincides with a major milestone for the property, the $100 million reinvestment of International Place, a transformative project designed to enhance the tenant experience and further cement the property’s standing as one of the most vibrant and sought-after destinations in New England. Two International Place offers tenants expansive views of Boston’s waterfront with access to a private roof deck.

“We are excited to establish our new Boston office at International Place and intend to grow this location over time to help us deliver on the firm’s future goals,” said Ryan Stork, Chief Operating Officer, KKR. “We see great potential for Boston to support the broader firm like our offices in Gurugram and Dublin. Our investment in Boston is consistent with our desire to have a U.S.-based location in a similar vein.”

Burke Malek, Head of KKR’s Boston office, commented: “As we’ve outgrown our existing space, this strategic move downtown positions us to invest in local talent and expand our operating platform to support our U.S. and global operations. The combination of a top-tier office space with world-class amenities and unmatched location made this the ideal choice for our growing team.”

The transaction was brokered by Jones, Lang LaSalle, Newmark and Cushman & Wakefield, reflecting a collaborative effort to complete one of Boston’s most significant recent transactions.

“KKR’s decision to plant a substantial flag at International Place is a major milestone for both the building and Boston’s business community,” said Don Chiofaro Jr., Vice President of The Chiofaro Company. “As one of the most prominent investment firms in the world, KKR’s arrival further validates our vision for International Place as the preeminent address for global business leaders. This move reflects the resurgence of office demand in the downtown market, and the value tenants continue to place on locating in the highest-quality work environments. We are proud to have partnered with PGIM Real Estate to elevate International Place to deliver a best-in-class office location for today and tomorrow’s business leaders.”

“International Place with its best-in-class location and amenities fits the profile that high-caliber tenants continue to seek,” said Joanna Mulford, Managing Director and Senior Portfolio Manager for PRISA, PGIM’s flagship core equity real estate strategy. “We remain confident in the long-term strength and appeal of Boston’s office market, and through this opportunity, we look forward to cultivating new tenant relationships and supporting exceptional workplace experiences.”

KKR’s commitment comes as PGIM and The Chiofaro Company near completion of the $100 million reinvestment in their flagship 1.8 million-square-foot office property. The redevelopment includes a complete transformation of the ground level’s lobbies and entrances, and the Aries Club – a 25,000-square-foot, state of the art amenity center.

About International Place

Developed by The Chiofaro Company and designed by renowned architect Philip Johnson, International Place is among Boston’s most recognized office addresses, offering 1.8 million square feet of Class A office and retail space across two towers. Situated along the Rose Kennedy Greenway across on the city’s downtown waterfront, the dual towers have maintained a prominent profile on the city’s skyline for decades. In 2024 The Chiofaro Company and PGIM Real Estate with the help of global architecture firm Gensler embarked on a significant reinvestment in International Place to create an unparalleled workplace experience.

About The Chiofaro Company

The Chiofaro Company is a privately held, independent firm engaged in the development, investment, leasing, management, and ownership of high-quality real estate properties. As one of New England’s leading developers and operators of first-class commercial projects, our success is driven by an uncompromising focus on creating and maintaining workplaces of extraordinary value that enhance the competitiveness of our tenants and clients.

About PGIM

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU) is built on a 150-year legacy of strength, stability, and disciplined risk management through more than 30 market cycles. Managing more than $1.44 trillion in assets,1 PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions — including fixed income, equities, real estate and other retail investment vehicles. With 1,450+ investment professionals across 42 offices in 19 countries, we serve retail and institutional clients worldwide. For more information visit pgim.com.

PGIM’s real estate business is the world’s third-largest real estate investment manager, with $213 billion in gross assets under management and administration2, and real estate professionals located in 30+ cities worldwide. Through our full suite of real estate equity and debt solutions, we aim to achieve exceptional outcomes on behalf of investors and borrowers. Our uncompromising commitment to building lasting relationships with our clients is founded on trust, transparency, and mutual respect.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.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.

1 As of June 30, 2025.

2 As of June 30, 2025. Net AUM is $138 billion and AUA is $47.5 billion. PGIM Real Estate is the third-largest real estate investment manager (out of 72 firms surveyed) in terms of global real estate assets under management based on Pensions & Investments’ “Largest Real Estate Investment Managers” list published October 2024. This ranking represents AUM as of 6/30/24. Participation in the ranking is voluntary and no compensation is required to participate in the ranking.

Media Contacts:

For The Chiofaro Company:
Carolyn Spicer
(617) 908-7701
carolyn@mcdvent.com

For PGIM:
Josette Thompson
Pro-PGIMRE@prosek.com

For KKR:
Kenny Juarez or Liidia Liuksila
(212) 750-8300
media@kkr.com

Source: KKR

 

Download PDF

Categories: News

Bencis partners with Omega Group

Bencis

Limbach-Oberfrohna – 18.  September 2025

Omega Group partners with Bencis to build the leading European system supplier of large and complex metal assemblies for the Industrial Technology and Defense sector

BBOF VI Holding C.V. (“Bencis”) has partnered with Omega Group, a leading specialized system supplier of large and complex metal components and modules. Omega Group consists of five companies in Saxony, Germany, offering a wide range of advanced metal processing technologies.

For decades, Omega has been a trusted partner to top-tier Industrial Technology and Defense OEMs, building on long-standing, recurring customer relationships. The company distinguishes itself by its ability to cover the full value chain – from engineering and manufacturing to coating and final assembly – delivering mission-critical solutions at the highest quality standards.

Omega Group offers extensive technological capabilities such as welding, glueing, drilling, milling, cutting, bending and coating which enable the company to provide clients with a holistic offering from a single source. It further stands out through its ability to assemble complex modules bringing together internally and externally sourced components.

Omega Group has continuously invested in its state-of the art machine park and highly skilled employees resulting in today’s strong positioning. Bencis will now support Omega in capturing the unique growth opportunities in the current market environment. As a joint ambition, the partners aim to create a leading pan-European system supplier for the Industrial Technology and Defense sector.
About Omega Group

Omega Group is a producer of complex metal components and modules serving clients from the Industrial Technology and Defense industries. It consists of five entities with complementary capabilities and specialisations, thereby covering a wide range of metal processing technologies. The group headquartered in Limbach-Oberfrohna, Saxony, Germany operates four locations around Chemnitz.
About Bencis

Bencis is an independent investment company with advisory offices in the Netherlands, Germany, and Belgium that supports business owners and management teams in achieving their growth ambitions. Managing six funds totalling €2.2 billion, Bencis has invested in over 80 companies and completed more than 330 follow-on acquisitions since 1999. For more information, visit: www.bencis.com

Categories: News

Tags:

Acuity Knowledge Partners acquires Ascent

Equistone

Acuity Knowledge Partners (Acuity), a leading global provider of bespoke research, data management, analytics and AI solutions to the financial services sector, has announced that it has exchanged on the acquisition of Ascent. The transaction is expected to close on 30th September 2025.

This strategic move is expected to significantly expand Acuity’s Data and Technology Services (DTS) division and its offering of technology and AI services and solutions.

Ascent, a leading European provider of AI-powered digital transformation services, supports over 170 clients globally, with 550 data, software, and cloud specialists operating across seven European jurisdictions.

“Our acquisition of Ascent is a transformative moment,” said Robert King, Chief Executive Officer at Acuity. “Acuity has invested in and built a fast-growing practice delivering data management and technology led services and solutions. By acquiring Ascent, we are taking our expertise and ability to offer our clients innovative AI-led solutions to another level. We are turbo-charging the way we can assist Acuity and Ascent clients with their digital transformations and AI adoption. This acquisition also takes us into new sectors such as reinsurance, pharma, manufacturing and retail for the first time. The acquisition enables Acuity to deliver from, and into, new markets. I am really excited at the prospect of what we can achieve together, and we warmly welcome the Ascent staff to the Acuity family.”

Jon O’Donnell, Chief Operating Officer at Acuity, said, “The Ascent business is a great addition to Acuity and will build on the progress we have made with our AI solutions following the launch of our Agentic AI platform, Agent Fleet. The acquisition of Ascent will boost our capacity to provide best-in-class technology advisory services to our clients. I am excited to partner with Stewart and the Ascent team to significantly grow our DTS business.”

Stewart Smythe, Chief Executive Officer at Ascent, commented, “Combining Ascent’s market-leading data and AI capability in Europe with Acuity’s industry-leading AI innovation and deep domain expertise is exciting. Acuity’s strategic aim to build a global technology services business unit to complement its capabilities and build broader relationships with its existing clients is exactly the opportunity my team were looking for, and we are excited to work with Robert King, Jon O’Donnell and the entire Acuity team.”

In recent years, Acuity has identified a compelling opportunity to build a technology services and solutions division that is complementary to its core capabilities in research, analytics and data management.

This acquisition enhances Acuity’s capabilities and expands the firm’s global network of delivery locations. Furthermore, Acuity will continue to build on Ascent’s strong alliance with Microsoft. Acuity was advised on the transaction by DC Advisory and Ascent by Canaccord Genuity.

Equistone acquired a majority stake in Acuity in November 2019 through its Fund VI, carving the business out of Moody’s Inc. Following a period of strong organic growth, Equistone completed the exit of its majority stake to funds advised by Permira in April 2023. As part of the transaction, Equistone reinvested in a minority position and remains involved through board representation.

Categories: News

Tags:

GrowthCurve Capital Acquires PlanHub

Mainsail partners

WEST PALM BEACH, Fl., September 16, 2025 — PlanHub (“PlanHub” or the “Company”), a leading cloud-based software platform for commercial construction professionals, today announced that it has been acquired by GrowthCurve Capital (“GrowthCurve”). GrowthCurve is acquiring the business from affiliates of Mainsail Partners and other shareholders. Mainsail will continue to participate as a minority shareholder in PlanHub. Terms of the transaction were not disclosed.

PlanHub is an industry-leading preconstruction platform designed to empower construction professionals by simplifying the bidding and project management process. With a mission to connect subcontractors, general contractors, and suppliers, PlanHub provides a centralized digital hub where industry professionals can discover and manage new growth opportunities, collaborate seamlessly, and make data-driven decisions. By integrating high-quality project listings with powerful workflow management tools, PlanHub removes inefficiencies and streamlines communication, ensuring businesses can scale effectively and focus on building America’s infrastructure. PlanHub has over 500,000 construction professionals in its proprietary network nationwide, and in 2025, the Company was named to the Inc. 5000 list of the fastest-growing private companies in America for the fifth consecutive year.

GrowthCurve Capital is a private equity firm focused on investing in data-rich businesses with a proprietary approach that seeks to unlock the power of a company’s data through the integration of AI, digital transformation, and human capital to accelerate growth and create sustainable value.  GrowthCurve will partner with PlanHub to further accelerate its AI-enabled product strategy, including the development of new prescriptive AI features inside the platform, support the launch of new business lines, and expand into new markets.

Ro Bhatia, CEO of PlanHub, said, “PlanHub is where preconstruction happens. We’ve built a connected network of contractors and suppliers and now we’re transforming that network into the industry’s first true end-to-end platform. Under one roof, PlanHub delivers project access, bid management, CRM, estimation, and AI-driven insights embedded in every workflow — so every bid, decision, and interaction becomes smarter and faster.

This industry doesn’t need more complexity — it needs clarity. With GrowthCurve, we’re scaling PlanHub into the AI-powered operating system for preconstruction: smart, connected, and built to help contractors win more work with less friction.”

Read the Case Study: Beyond Bidding: PlanHub’s Product-Led Expansion Strategy

Matthew Popper, Head of Technology and Information Services Investing at GrowthCurve, said, “PlanHub is a leader in the fast-growing construction management software market, with a differentiated, highly data-rich bid network and vertical software platform that helps clients grow their business and manage pre-construction workflows and decisioning at scale. We look forward to partnering with Ro and the rest of the management team to accelerate PlanHub’s growth, including applying GrowthCurve’s functional capabilities in data science and AI-enabled product development to further enhance the platform’s value proposition for general constructors, subcontractors, and suppliers on the network.”

Sim Allan, Principal at GrowthCurve, added, “PlanHub is uniquely positioned to become the leading AI-powered, end-to-end operating system for pre-construction. The Company’s rich data assets and intuitive workflows provide the foundation for accelerating the adoption of analytics and AI, enabling seamless collaboration across general contractors, subcontractors, and suppliers, and assisting them in their most critical business decisions and processes. We are thrilled to partner with PlanHub to continue delivering innovative solutions to the construction industry.”

Vinay Kashyap, Partner at Mainsail, shared, “It has been a true pleasure to partner with Ro Bhatia, the PlanHub founders, and the entire PlanHub team through their evolution from bootstrapped to market leadership. PlanHub is not just simplifying the pre-construction process – they are reimagining how the construction industry connects, collaborates, and builds for the future. We are proud to continue supporting PlanHub in this next phase of growth.”

Houlihan Lokey served as exclusive financial advisor, and Wilson Sonsini Goodrich & Rosati served as legal counsel, to PlanHub. William Blair served as lead financial advisor, Lincoln International served as co-advisor, and Davis Polk & Wardwell served as legal counsel to GrowthCurve.

About PlanHub
PlanHub is an all-in-one cloud platform that helps commercial construction professionals grow their businesses by expanding their network, improving workflows, and making collaboration easier. From discovering new bid opportunities to building winning proposals, PlanHub supports contractors and suppliers throughout the entire preconstruction process. Learn more at www.planhub.com.

Categories: News

Tags: