Category Archives: News

EcoOnline announces acquisition of Ecometrica, a Leader in Climate Metrics and ESG Software

Apax

EcoOnline, a leading EHS and ESG software provider, today announced it has signed a definitive agreement to acquire Ecometrica, a global ESG and Sustainability software leader. This strategic acquisition increases EcoOnline’s presence in the ESG market and further enhances the company’s existing platform capabilities, solidifying its position as an ESG software market leader across Europe, the UK, and North America. Together, EcoOnline and Ecometrica will deliver a broad ESG solution with strong capabilities in Carbon Accounting, ESG Framework reporting, Climate Risk, Environmental Compliance and more, enabling companies to systematically work to reduce their environmental footprint and comply with existing and future regulations.

Chris Joseph, Chairman of EcoOnline says, “The acquisition of Ecometrica provides a robust addition to our suite of solutions at EcoOnline. We know EHS data plays a critical role in ESG performance reporting, and many organisations currently struggle to bring a unified data strategy together. Our goal is to offer a holistic approach to ESG management, providing our clients with comprehensive solutions to manage, report, and deliver healthier, safer, and more responsible business.”

Dr Richard Tipper MBE, Chairman and Co-Founder of Ecometrica says, “We were immediately struck by the complementary nature of the EcoOnline and Ecometrica product suites. The combined entity will have an unrivalled depth and breadth of service offerings on health, safety, and ESG to bring the best-in-class sustainability reporting to the EcoOnline product suite. This comes at an ideal time for regulations coming into place in North America and Europe.”

Ecometrica is a market-leading sustainability software company that has been offering best-in-class climate accounting and reporting solutions since 2008, enabling companies to comply with the latest legislation. The Ecometrica Platform was built from the ground up by subject-matter experts who have delivered thousands of assessments and contributed to making the practice of greenhouse gas accounting the robust mission-critical practice it is today. Its modules cover a range of metrics including GHG emissions, ESG, TCFD, deforestation and biodiversity. Ecometrica’s platform delivers robust, accurate and transparent climate accounting and is considered by many to be the gold-standard of reporting.

David Metcalfe, CEO of Verdantix says, “Demand for ESG reporting and workflows is surging on a global basis. Global spend on ESG reporting software is set to surge from $1.4 billion in 2023 to $4.3 billion in 2027. EcoOnline’s acquisition of ESG and climate software solution, Ecometrica, underscores EcoOnline’s commitment to these important trends and increasing buyer focus on the nexus of EHS and ESG.”

Integrating Ecometrica with EcoOnline’s EHS and ESG will provide organisations with an increased ability to manage and leverage the data spread broadly across sustainability, employee health and safety and environmental compliance programs. This acquisition is a key step in EcoOnline’s journey to build a leading global software vendor dedicated to the mission of protecting our people and the environment.

-ENDS-

About EcoOnline:
EcoOnline is a leading Environmental, Health, Safety, and Quality (EHSQ) software solutions provider. For over two decades, EcoOnline has been dedicated to making workplaces safer by providing organisations of all sizes with user-friendly EHSQ software that creates engagement and operational excellence.
By developing user-friendly digital software that improves the flow of information and streamlines all documentation needed to reduce risks due to factors in the workplace, EcoOnline’s solutions solve real challenges with severe impact. Through a comprehensive platform that extracts and analyses intelligent business data, all organisations can drive efficiency while safeguarding their workforce, customers, the environment, and company reputation.
Today, EcoOnline helps 10,000 customers in over 80 industries to effectively spot risks and incidents, take corrective actions and protect employees, contractors, customers, the public, and the environment.
Supported by 900+ purpose-driven employees based in Norway, Sweden, Denmark, Finland, Germany, Ireland, the UK, the US, Canada, and New Zealand, EcoOnline enables companies to create healthier, safer, and more sustainable workplaces.

About Ecometrica
Established in 2008, Ecometrica provides the most rigorous, audit ready, yet simple to use GHG (greenhouse gas) accounting and climate risk software, enabling companies to accurately monitor their global climate impact and comply with legislation. In addition, Ecometrica tracks the impact and resilience of supply chains to monitor natural resources around the world, and as such, are CDP’s only gold partner across climate, forests and water. With offices in the UK and North America, their software has been used by numerous globally renowned companies as well as governments.

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DBAG elevates the energy transition and invests in Avrio Energie

Deutsche_Beteiligungs_AG
  • DBAG advances sustainable energy solutions through its investment
  • Biogas plant generates 77 gigawatt hours (GWh) per year

Frankfurt/Main, 5 July 2023. Deutsche Beteiligungs AG (DBAG) invests in best in-class biogas platform Avrio Energie. The investment is made alongside a fund advised by DBAG that will acquire a majority stake in Avrio Energie from family-owned Leyendecker Group. DBAG will contribute both financial resources and expertise to support the company’s expansion plans. The founders of Avrio Energie will retain a material minority share, ensuring a seamless continuation and even acceleration of the corporate strategy by capitalizing on their extensive industry experience. Consummation of the purchase agreement is expected end of July 2023. The parties have agreed not to disclose the terms of the sale.

This investment underscores DBAG’s commitment to supporting sustainable solutions by actively participating in the energy transition with further capital earmarked to expanding Avrio Energie’s business.

“By investing in Avrio Energie, we are taking a major step towards promoting a greener future and supporting the transition to renewable energy sources,” stated Tom Alzin, Spokesman of the Board of Management of Deutsche Beteiligungs AG. “We believe that biogas has immense potential in mitigating climate change and meeting the growing demand for sustainable energy solutions. Avrio Energie’s expertise in operating biogas plants positions them as a key player in this field, and we will support them in pursuing its organic growth and buy-and-build strategy.”

Avrio Energie, which is part of the family-owned Leyendecker Group headquartered in Frankfurt/Main, has established itself as a best-in-class operator of renewable energy plants. Their portfolio comprises a cutting-edge biogas plant that generates both electricity as well as biomethane (renewable natural gas) from agricultural produce as well as animal manure. Thereby the company supports the improvement of its clients’ CO2 footprint. The renewable natural gas finds its application both in energy generation as well as in green fuels.

Felix Becker, Co-Founder and Co-Managing Director, Avrio Energie, said: “We are delighted to welcome DBAG as an investor who shares our vision of deploying capital into the biogas sector as an important contributor to the ongoing energy transition. This investment will enable us to accelerate our growth plans and expand our operations, ultimately contributing to a more sustainable environment.”

“DBAG’s investment is a testament to our achievements and the potential of biogas as a renewable energy source. With their support, we strengthen our ability to drive innovation, reduce emissions and play a key role in shaping the renewable energy market,” said Lars Sittauer, Co-Founder and Co-Managing Director of Avrio Energie.

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Treebula secures SEK 28 million investment to realize the true value of forest and a greener future

Industriefonden

Treebula, a pioneering Swedish company with a vision to unlock the true value of forests, announced today an investment of SEK 28 million from Industrifonden and existing owners. The new investment will fuel Treebula’s mission to become the leading source of forestry information and digital platform connecting forest owners, buyers, and other stakeholders.

Treebula secures SEK 28 million investment to realize the true value of forest and a greener future

In a world that urgently requires adaptation to climate change across all sectors, forests play a crucial role. Recognizing this importance, multiple industries are increasingly turning to wood and forests as part of the solution for a more sustainable future. Such a shift in demand necessitates accurate and accessible information and Treebula aims to fill this gap by offering forestry management services, including forest management plans, a carbon credits marketplace, and comprehensive information on various forest management methods and their impacts on climate, economy, and biodiversity.

Adam Aljaraidah, CEO and co-founder of Treebula, said: “Interest in forests and their multifaceted applications is rapidly growing. The demand for the forest’s diverse values is on the rise, not only in Sweden but also on an international scale. The timing is perfect for us to keep establish the natural conduit between forest owners and those who wish to realize the forest’s true potential. The investment from Industrifonden not only brings us a competent and experienced partner but also provides the resources we need to solidify our position in Sweden and expand internationally under the Treebula brand.”

With this investment, Treebula is poised to accelerate its growth trajectory, leveraging the expertise and financial support from Industrifonden. Furthermore, the new capital will enable Treebula to further enhance its digital platform, broaden its services, and extend its reach both domestically and globally.

Anna Haupt, Investment Director at Industrifonden, commented: “We find ourselves amidst a changing forestry landscape, with rising demand for both wood and carbon sequestration. This predicts an evolving industry, driven by digitalization and forest owners’ growing engagement in the importance of biodiversity as well as of financial values. Treebula also recognizes the potential in carbon credits once the market matures and we’re proud to support their mission of a greener future.”

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GIC Affiliate and Genus Power & Infrastructures Limited (“Genus”) to set up a Platform to fund Smart Metering projects – USD 2 billion initial pipeline

GIC

From https://genuspower.com/wp-content/uploads/2023/07/84.-Press-Release-04.07.2023_GIC-JV.pdf

Jaipur, India, 4 July 2023 – Genus Power & Infrastructures Ltd (“Genus”) is excited to announce the signing of definitive agreements with Gem View Investment Pte Ltd, an affiliate of GIC, Singapore (“GIC”) for:

  • Setting up of a Platform (“Platform”) for undertaking Advanced Metering Infrastructure Service Provider (“AMISP”) concessions. GIC will hold 74% (seventy four percent) stake while Genus will hold 26% (twenty six percent) stake in the Platform. The partners have committed to an initial pipeline with a capital outlay of (approx.) USD 2,000,000,000 (USD Two billion). Genus would be the exclusive supplier to the Platform for smart meters and associated services; and
  • Investment by Chiswick Investment Pte Ltd, an affiliate of GIC, of up to INR 519,00,00,000 (INR Five Hundred and nineteen crores) by way of a preferential allotment of warrants which shall constitute (if and when GIC elects to exercise such warrants) 15% (fifteen percent) of the issued and paid-up share capital of Genus on a fully diluted/as converted basis.

The transactions are subject to the approval of Genus shareholders and fulfilment of customary closing conditions to the satisfaction of the GIC affiliates.

This represents the largest transaction in the smart metering space in the country and positions Genus at the forefront of the smart metering revolution underway in the country. With these transactions, Genus would supplement its manufacturing and execution prowess with access to capital. Genus will scale up the deployment of energy “smart meters” across India, supporting energy security and transition through grid optimization and efficiency.

Government of India (“GoI”) is implementing the National Smart Metering Project, under the Revamped Distribution Sector Scheme (RDSS), with a plan to install 250,000,000 (Two hundred and fifty million) meters by 2025 with an estimated investment of USD 30,000,000,000 (USD Thirty billion). With technical and commercial losses exceeding 15% (fifteen percent) for all major Indian utilities leading to high financial losses, smart metering projects under the RDSS scheme are conceptualised to reduce such losses, improve operational efficiency of DISCOMs and improve their financial sustainability by providing results linked financial assistance. Smart meters are also at the core of operationalizing the recently announced Time of the Day Metering (ToD) announced by GoI. AMISP concessions are awarded by various state utilities under RDSS with a concession life of upto 10 (ten) years and concessionaires receive a monthly service charge during this period for installing and maintaining meters and the associated infrastructure.

Speaking on the development, Mr Jitendra Kumar Agarwal, Jt MD, Genus, said, “We are delighted to have a long-term investor like GIC choosing Genus as its exclusive partner in the sector. GIC’s investment attests to the strong prospects of smart metering space, our manufacturing prowess and execution track record. We look forward to contribute to India’s sustainability goals by facilitating efficient use of energy envisioned under the Time of Day metering recently announced by Government of India”.

Mr Raj Agarwal, CEO & MD, Genus, added, “Genus has achieved market leadership through its strong focus on R&D and innovation. Our capacity to deliver next generation Smart meter technology and related Solutions for the evolving needs of Indian energy sector will be an asset to the Platform”.

Mr Ang Eng Seng, Chief Investment Officer of Infrastructure at GIC, said, “We are pleased to partner with Genus, one of the leading metering businesses in India, to create a new platform that supports the targeted roll out of smart meters in India. We believe smart meters will play a crucial role in India’s ongoing journey towards improving power sector efficiency. India remains a key long-term market for GIC given its strong economic fundamentals and favourable demographics, which are spurring opportunities in many sectors including infrastructure development.”

 

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Malteries Soufflet enters into Scheme Implementation Deed with United Malt Group Limited

KKR

Malteries Soufflet has entered into a Scheme Implementation Deed with United Malt under which Malteries Soufflet has agreed to acquire 100% of the shares in United Malt Group Limited by way of a scheme of arrangement
• Under the scheme of arrangement, United Malt shareholders will receive A$5.00 per United Malt Group’s share in cash
• The operation aims to create a leading global malt platform and accelerate Malteries Soufflet’s growth and value-generating strategy

Paris – 3 July 2023 – Malteries Soufflet, the second largest operator in the global malt industry and a subsidiary of InVivo Group, a leading European agricultural group, announced today that it has entered into a Scheme Implementation Deed (SID) with United Malt Group Limited (United Malt), a company listed on the Australian Securities Exchange (ASX) and the fourth largest maltster globally, to acquire 100% of the shares of United Malt by way of a scheme of arrangement for a cash price of A$5.00 per share (Scheme).

The entry by Malteries Soufflet and United Malt into the SID follows the announcement made by Malteries Soufflet on 28 March 2023, in which it advised that it had made a non-binding, indicative and conditional proposal to acquire all of United Malt’s shares (Offer).

Under the terms of the SID, Malteries Soufflet will acquire in cash all outstanding shares of United Malt at a price of A$5.00 per share.

The SID provides that implementation of the Scheme is subject to a number of conditions and notably:

• An independent expert report concluding (and continuing to conclude) that the Scheme is in the best interests of United Malt’s shareholders;
• Approval of the Scheme by United Malt’s shareholders;
• Merger control and anti-trust/competition-related regulatory approvals in relevant jurisdictions;
• Foreign investment approval in relevant jurisdictions;
• No material adverse change occurring in respect of United Malt; and
• Federal Court of Australia’s approval in respect of the Scheme.

As part of the transaction, Malteries Soufflet’s strategic partners, KKR, Bpifrance and Crédit Agricole Group, will also reinvest into the business to fund the acquisition and help accelerate the Company’s global growth plans.

Upon implementation of the Scheme, United Malt will become a wholly-owned subsidiary of Malteries Soufflet.

Thierry Blandinières, Chairman of Malteries Soufflet and CEO of InVivo Group, said: “We are excited to announce this significant milestone in our acquisition of United Malt. This marks an important step in the implementation of our strategy to create a global platform in the malt sector, which we developed with our strategic partners, KKR, Bpifrance and Crédit Agricole Group.”

“With complementary assets, both in terms of geographical footprint and business segments, the combination will enable us to better serve our customers from craft and industrial beer brewers to whisky distillers across international markets. We look forward to welcoming the talented United Malt team and enhancing Malteries Soufflet’s expertise, capabilities and global network,” said Mr Blandinières.

Mark Palmquist, Managing Director & Chief Executive Officer of United Malt, said: “We are pleased to join forces with Malteries Soufflet, a company that shares our commitment to delivering exceptional malt products to our customers. This is a fantastic outcome for our customers, employees, shareholders and other stakeholders and we look forward to completing the transaction.”

Goldman Sachs Bank Europe SE and Crédit Agricole CIB are serving as financial advisors to Malteries Soufflet and Allens, Vivien & Associés, Wilkie Farr & Gallagher, Aramis and Bredin Prat are serving as the company’s legal advisors.

Contacts

Malteries Soufflet/InVivo Group
Charlotte de Lattre
+33 6 01 06 12 74
cdelattre@invivo-group.com		 For Malteries Soufflet, Brunswick Group
Paris: +33 1 53 96 83 83
Sydney: +61 420 960 717
malteriessoufflet@brunswickgroup.com

About Malteries Soufflet
Malteries Soufflet is one of the world’s leading players in the malt industry, with an 11% share of the global market. Malteries Soufflet employs nearly 1,400 people in 29 malt plants in Europe, Latin America, Asia and Africa, with an annual production capacity of 2.4 million tonnes of malt. Thanks to its expertise in the barley sector, from seed to beer, Malteries Soufflet produces excellent malts, whether standard or special, pilsner, roasted or organic, as part of a continuous improvement process in the sustainability of its products. In partnership with its customers – major brewers and craft brewers, distillers and ingredient producers – Malteries Soufflet co-constructs the specifications for malts that meet the most demanding challenges, as part of a continuous improvement process.

About United Malt
United Malt is a leading global maltster, with a capacity of approximately 1.3 million tonnes of malt across 12 processing plants in Canada, the United States of America, Australia and the United Kingdom. United Malt also operates an international distribution business, which provides a full service offering for craft brewers and distillers, including malt, hops, yeast, adjuncts and related products.
To learn more, visit UnitedMalt.com

About InVivo Group
InVivo Group is one of Europe’s leading agricultural groups with revenues of nearly €12 billion, with more than half generated in France, and a workforce of 15,000 employees, including more than 10,000 in France. With operations in 38 countries, it has more than 90 industrial sites, including 63 in France. The Group operates along the entire value chain, from farm to fork, as a leader in each of its four major strategic business lines: international grain trade, agriculture, agri-food (Malting, Milling/ingredients/bakery, Wine), gardening and food distribution. A global cross-functional centre for innovative and digital solutions completes the structure to accelerate the transformation of these activities towards the 3rd agricultural revolution.

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KKR and Mirastar Sell Gorsey Point UK Logistics Assets

KKR

LONDON – 3 July 2023 – KKR and Mirastar, KKR Real Estate’s industrial and logistics platform in Europe, have completed the sale of three modern logistics assets totalling approximately 708,000 square feet at the Gorsey Point logistics park in Widnes, UK to a commingled fund managed by Clarion Partners Europe.

The properties were acquired through forward-purchase agreements by KKR Real Estate Partners Europe II Fund and were constructed in two phases by Commercial Development Projects Ltd throughout 2022. The assets were developed with a strong environmental focus, resulting in BREEAM “Excellent” certification and EPC “A” ratings. All units benefit from LED lighting, EV charging and water saving initiatives.

Gorsey Point has excellent connectivity to the regional motorway network, as well as the rail freight terminal at Widnes, Garston Docks, the Port of Liverpool and Liverpool John Lennon Airport. The properties were over 90% let prior to delivery to two high-quality tenants: Supply Chain Coordination Limited, manager of the NHS Supply Chain operations owned by the UK’s Secretary of State for Health and Social Care, and Kammac Limited, a 3PL operator.

Ekaterina Avdonina, CEO and co-founder at Mirastar, said: “The successful sale of Gorsey Point ahead of our business plan is testament to the strong relationship between Mirastar, KKR and Commercial Development Projects Ltd. These assets are located in an established logistics location and have been developed to excellent ESG credentials. This has enabled Mirastar to successfully achieve pre-lets on more than 90% of the space.”

Seb d’Avanzo, Managing Director and Head of Real Estate Acquisitions for KKR in Europe, said: “We are pleased to complete the sale of these three high-quality assets. This transaction is a great validation of our strategy with Mirastar to develop well-located logistics properties with state-of-the-art physical features that are in-demand across market environments. We maintain a strong conviction in the European logistics sector and will continue to actively seek value within it.”

KKR and Mirastar were advised by CBRE, DTRE, Clifford Chance and Osborne Clarke. Clarion Partners Europe was advised by Gerald Eve and Goodwin Proctor.


About Mirastar

Mirastar is a pan-European logistics developer, investor and asset manager, founded in 2019 by Ekaterina Avdonina, Chief Executive Officer, and Anthony Butler, Chief Investment Officer. The team currently comprises 35 senior real estate professionals and has offices in London, Madrid, Milan, Amsterdam and Stockholm. The team at Mirastar have collectively deployed over €16bn of capital across key European markets, built and constructed in excess of 3.0m sqm of logistics assets.


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 and on Twitter @KKR_Co.


Media Contacts
FGS Global (for Mirastar and KKR)
Alastair Elwen / Sophia Johnston
KKR-Lon@FGSGlobal.com
Tel: +44 (0) 20 7251 3801

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IK Partners enters into exclusive negotiations for the sale of its stake in Pr0ph3cy Group to Carlyle

IK Partners

Press Release
Monday, 3 July 2023

IK Partners (“IK”) is pleased to announce that the IK Small Cap III Fund (“IK SC III”) has entered into exclusivity negotiations for the sale of its stake in Pr0ph3cy Group (“Pr0ph3cy” or “the Group”), a leading ‘one-stop-shop’ cybersecurity business in France, to global investment firm Carlyle (NASDAQ: CG). This represents the first exit from the Development Capital pool within the IK SC III Fund, after a holding period of under two years. IK will be reinvesting alongside Carlyle and the management team. The financial terms of the transaction are not disclosed.

Led by CEO Arthur Bataille, Pr0ph3cy Group is a leading provider of IT and cybersecurity services to a highly diversified blue-chip customer base within the public and private sectors, including: Aerospace & Defence; Financial Services; Transport and Consumer. Resulting from the merger of Silicom and Seela in 2021 in a primary leveraged buyout led by IK and together with the subsequent acquisitions of OpenCyber and Harmonie Technologie in 2022, the Company now operates across the entire cyber services value chain with expertise in: cyber strategy, risk and identity management; audit and penetration testing; configuration of security software and hardware (NetSecOps and DevSecOps); cyber e-training and upskilling solutions; and artificial intelligence.

At present, Pr0ph3cy has around 600 employees who serve hundreds of customers from its nine offices across Europe and North America. With IK’s support and including the two add-ons, the Company roughly tripled its size through the acceleration of its activity through an ambitious recruitment strategy, initiation of a significant internationalisation effort in Canada and Belgium; and delivery of Seela.io’s product roadmap to become a best-in-class, global cyber-focused e-learning tool. An overall reinforcement of group processes and managerial structure also commenced.

The Carlyle Europe Technology Partners (“CETP”) platform will enable Pr0ph3cy’s continued growth and the Carlyle team will work with management and IK to continue the Company’s buy-and-build strategy to gain further scale, broaden its service portfolio and expand internationally. Upon acquisition, the Group will rebrand and change its name to “NEVERHACK”.

Pierre Gallix, Managing Partner at IK and Advisor to the IK SC III Fund, said: “Over the past two years, we’ve worked in partnership with the team at Pr0ph3cy to deliver their ambitious strategic agenda and pursue numerous value creation opportunities. We have been impressed with their dedication and hard work to date and look forward to continuing our work with them, alongside Carlyle.”

Arthur Bataille, Founder and CEO of Pr0ph3cy Group, said: “With the support of IK, we have experienced a significant acceleration in growth which has helped us to evolve substantially. They understood our vision and passion for innovation from the start and have worked with my team and I to help us begin releasing our ambitions. We are proud of all that we have achieved in such a short space of time with and look forward to welcoming Carlyle as we enter the next phase of our journey. We thank the team at IK for their continued support.”

Completion of the transaction is subject to works council consultation and customary regulatory approvals.

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 170 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

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About Pr0ph3cy Group

Pr0ph3cy (to be renamed NEVERHACK) is a fast-growing cybersecurity company dedicated to protecting digital infrastructures against cyber threats to businesses and individuals. Founded in 2021, the company has rapidly established itself as a key player in the sector, thanks to the expertise of the companies it has acquired in Harmonie Technologie, Silicom and OpenCyber (cyber strategy, integration and development, pentest and technical audit), Seela (training center) and weS4FE (risk rating service). The company currently employs 600 people in 4 countries.
Pr0ph3cy aims to become a leader in cybersecurity services, building a secure digital world for all.

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IK Partners invests in Cinerius Financial Partners alongside Summit Partners and Management

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IK Partners

Zug, Monday, 3 July 2023

Cinerius Financial Partners (“Cinerius”, “Cinerius Group” or “the Company”), a leading independent wealth management platform, today announced a majority investment from IK Partners (“IK”). IK is investing from its IK IX Fund and existing investor, Summit Partners, as well as the Cinerius management team are reinvesting significantly as part of the transaction. Financial terms of the transaction are not disclosed.

Founded in 2021 and headquartered in Zug, Switzerland, Cinerius is a leading platform for independent wealth managers (“IWMs”) from German-speaking European regions. The platform currently includes seven partner businesses, each of which offers a range of wealth management solutions, including opportunities to invest in proprietary funds and access advisory services. Cinerius partner businesses include: B&K Vermögen; BV & P Vermögen; Entrepreneur Partners; Habbel, Pohlig & Partner Vermögensverwaltung; KSW Vermögensverwaltung; Ringelstein & Partner Vermögensbetreuung; and VM Vermögens-Management.

Through its partner companies, the Cinerius Group manages assets for over 5,500 clients. With 13 locations and more than 140 employees across Germany and Switzerland, Cinerius collectively manages over 10 billion CHF of assets.

In the two years since Cinerius was founded, it has gone from strength-to-strength, seeking to promote the growth of its IWMs by offering strategic advice and access to a range of middle-office and back-office functions. The platform enables the provision of HR-related services as well as support in areas such as hiring, compliance, digital marketing and new customer acquisition. With IK joining as a majority shareholder, the Company aims to solidify its position as a leading wealth management platform by pursuing organic growth initiatives, investing in its people and technology and growing its group of partner businesses through a dedicated M&A strategy.

Christoph Lieber, CEO at Cinerius Financial Partners, said: “We look forward to the next chapter in our journey, drawing on IK’s extensive experience in the financial services sector. We believe that the IK team can help us realise our ambitions to further strengthen our position in the IWM marketplace through both organic and inorganic growth. We are grateful to have had the support of Summit Partners over the last two years and are pleased to see them reinvest in our dynamic company.”

Mirko Jablonsky, Partner at IK Partners and Advisor to the IK IX Fund, said: “We have been impressed with Cinerius’ track record to date and its ability to attract high-performing, complementary partner businesses to the platform. Within a short period of time, Cinerius has developed into the preeminent consolidation platform in a fragmented market in the DACH region, offering both growth support as well as succession solutions to IWMs. With a comprehensive range of services, Cinerius has exciting growth potential, which we aim to unlock during our partnership in the coming years. We look forward to working with Chris and his team, while continuing to draw on the expertise of Summit Partners, to develop the Company further.”

Johannes Grefe, Managing Director at Summit Partners, commented: “We have been fortunate to partner with ambitious and passionate partner businesses and work with an experienced Cinerius team these last few years. The Company has grown meaningfully since our initial investment in 2021 and today is a clear a market leader in the DACH wealth management industry. We are inspired by the hard work and commitment of the Cinerius team and our partner businesses and we are confident that with our continued support and the additional experience of our new partners at IK, the Company will continue to deliver on its ambitious growth strategy.”

Completion of the transaction is subject to competition authority approvals.

For further questions, please contact:

Cinerius Financial Partners
Goodkom Communications
Ari Dorbert
Phone: +49 172 9908632
ad@goodkom.de

IK Partners
Vidya Verlkumar
Phone: +44 7787 558 193
vidya.verlkumar@ikpartners.com

Summit Partners
Meg Devine
Phone: +1 617 824 1047
mdevine@summitpartners.com

About Cinerius Financial Partners

Headquartered in Zug, Switzerland, the company forms a group of reputable independent wealth managers from German-speaking European regions. To date, Cinerius and the group employ 140 people across 13 locations. Cinerius seeks to promote a higher growth dynamic by offering resources at scale and strategic support to partner businesses while allowing leaders to maintain operational independence. For more information, visit www.cinerius.com

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About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 170 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

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About Summit Partners

Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $36 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn

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HarbourVest and AP7 Partner to Launch New Private Equity Open-Ended Solution

Harvourvest

London, UK – HarbourVest Partners, a global private markets investment specialist, today announced its partnership with AP7, a Swedish government pension fund, as a founder investor in a new private equity strategy. The $835 million USD anchor investment was made in January 2023 in a new open-ended evergreen private equity solution designed for non-US institutional and High Net Worth (HNW) investors.

HarbourVest has offered a range of solutions which clients can select depending on their specific investment needs since it was founded in 1982. The open-ended nature of this new secondaries and direct co-investment solution further complements this range by including a liquidity-generating mechanism.

The partnership with AP7 is focused on delivering a solution for both institutional and private clients and continues HarbourVest’s commitment to the private client segment. This began in 2007 with the now  London-listed HVPE offering daily liquidity to non-U.S. investors, it continued in 2014 with the launch of a global annual programme offering clients a core diversified solution, and it progressed further in 2016 with the creation of one of the first dedicated private client groups.

HarbourVest’s 40-year private market tenure, scale, and ability to deploy more than $10 billion per annum in direct co-investments and secondaries enables the firm to access a large volume of what HarbourVest believes are quality deals from leading managers across open-architecture solutions.

“Private equity has historically outperformed public markets and offers the opportunity to deliver attractive returns at a time when private and institutional investors are looking for diversity and, if their investment parameters change, liquidity,” said Simon Jennings, Managing Director and head of HarbourVest’s private client group in EMEA and APAC. “This new solution provides this flexibility and access to investment solutions previously only available to very large institutional investors.”

Simon has over 20 years of experience operating at the cross-section of private markets and clients, both in EMEA and APAC.

“During our 20-year partnership with HarbourVest, we have built a relationship based on collaboration, insights, and opportunity,” added Per Olofsson, acting CIO at AP7. “This new open-ended solution presents a compelling opportunity to address AP7’s strategic objectives and continue to shape our private equity exposure achieving both short, and long-term goals.”

Olofsson continues, “While this solution started as a private client initiative, we have seen its effectiveness in helping to augment existing alternative allocations for institutional investors.” 1

ABOUT HARBOURVEST PARTNERS

HarbourVest is an independent, global private markets firm with 40 years of experience and more than $106 billion of assets under management as of December 31, 2022. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 1,000 employees, including more than 215 investment professionals across Asia, Europe, and the Americas.  Across our private markets platform, our team has committed more than $55 billion to newly-formed funds, completed over $46 billion in secondary purchases, and invested over $33 billion in directly operating companies. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities.

HarbourVest Partners, LLC is a registered investment adviser under the Investment Advisers Act of 1940. This material is solely for informational purposes and should not be viewed as a current or past recommendation or an offer to sell or the solicitation to buy securities or adopt any investment strategy.  The opinions expressed herein represent the current, good faith views of the author(s) at the time of publication, are not definitive investment advice, and should not be relied upon as such. This material has been developed internally and/or obtained from sources believed to be reliable; however, HarbourVest does not guarantee the accuracy, adequacy or completeness of such information. There is no assurance that any events or projections will occur, and outcomes may be significantly different than the opinions shown here.  This information, including any projections concerning financial market performance, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons. The information contained herein must be kept strictly confidential and may not be reproduced or redistributed in any format without the express written approval of HarbourVest.

 Nothing herein should be construed as a solicitation, offer, recommendation, representation of suitability, legal advice, tax advice, or endorsement of any security or investment and should not be relied upon by you in evaluating the merits of investing in HarbourVest funds or in any other investment decision. 

CONTACT

Lily Cabianca
+44 207 151 4261
lcabianca@harbourvest.com

ABOUT AP7

AP7 (Sjunde AP-Fonden) is the default alternative within the Swedish Premium Pension system with 5.5 million savers and SEK 1000 billion AUM in global equities, fixed income and alternative investments. With a diversified equity portfolio of more than 3,000 companies, AP7 has an ESG-strategy that focuses on active universal ownership and systemic risks. Read more at www.ap7.se.

  1. AP7 is a client of HarbourVest and has invested in a number of HarbourVest products.

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GIP Development sells Blaupunkt brand

Aurelius Capital

Munich/Luxembourg, June 30, 2023 – GIP Development SARL, an AURELIUS entity, announces the disposal of the Blaupunkt brand to Established. (USA), a private equity backed brand licensing company with broad industry expertise globally. Both parties have agreed not to disclose the purchase price.

The Blaupunkt brand was established in 1924 near Berlin, manufacturing audio products such as headphones. In 2023, the Blaupunkt brand still possesses a strong reputation for producing high-quality consumer lifestyle and electronic products within an affordable price range. Blaupunkt provides a secure and reliable licensing platform, enabling business partners to source, distribute, market and price their products.

Established. is a US-based creative licensing company. AURELIUS Equity Opportunities is confident that Established. will be a reliable partner that is able to sustain the growth path of the Blaupunkt brand and help it expand on a global basis.

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